Profits and Fractal Properties: Notes on Marx, Countertendencies and Simulation Models

Leonardo Costa Ribeiro, Leonardo de Deus (), Pedro Mendes Loureiro and Eduardo Albuquerque

Review of Political Economy, 2017, vol. 29, issue 2, 282-306

Abstract: There are new reasons for revisiting Marx’s elaboration on the rate of profit because contemporary debates provide findings from the MEGA Project, long-term data on the rate of profit, and tools for dealing with complexity and non-equilibrium systems. This article proposes that the interplay between the tendency and the countertendencies of the rate of profit to fall can be translated into a simple system of equations, one based on each chapter of Section Three of Capital—as if Marx sought to mathematically formalise his insights. This article reviews previous debates, presents data and runs a simulation model, showing that the rate of profit behaves as fractals.

Date: 2017
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DOI: 10.1080/09538259.2016.1265823

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