Dual rates of profit and the turnover of capital in Karl Marx’s post-Capital manuscripts in 1868. An interpretation in terms of input-output analysis

Kenji Mori

The European Journal of the History of Economic Thought, 2024, vol. 31, issue 6, 925-947

Abstract: In 1868, Marx investigated the effect of turnover on profit rate in two large manuscripts, which were published in MEGA in 2012. The present study is the first attempt to analytically explore these manuscripts. As Chapter 4 of Capital Volume III titled “The effect of turnover on the rate of profit” was written by Engels, and not by Marx, those manuscripts shed the first light on Marx’s own thoughts that remained unknown so far. We show that Marx’s exposition differs completely from that of Engels. Furthermore, we try to consistently reconstruct Marx’s findings in a general framework of input-output analysis.

Date: 2024
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DOI: 10.1080/09672567.2024.2384881

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