The Falling Rate of Profit under Constant Rate of Exploitation: A Generalization

Junshang Liang

Review of Radical Political Economics, 2021, vol. 53, issue 3, 501-510

Abstract: In a two-sector model with circulating capital, Laibman (1982) shows that a capital-using and labor-saving technical change in the consumption goods sector lowers the rate of profit under the assumption of constant rate of exploitation. This paper generalizes his finding in a two-department multi-sector model that considers the capital advanced. JEL Classification : B51, C67

Keywords: falling rate of profit; technical change; constant rate of exploitation (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:53:y:2021:i:3:p:501-510

DOI: 10.1177/04866134211005881

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