Destructive Creativity: Institutional Arrangements of Banking and the Logic of Capitalist Technical Change in the Perspective of Marx’s 1894 Law of Profit

Geert Reuten

Chapter 12 in Marxian Economics: A Reappraisal, 1998, pp 177-193 from Palgrave Macmillan

Abstract: Abstract The theory on ‘the law of the tendential fall in the rate of profit’ (TFRP) is very much the centrepiece of volume III of Marx’s Capital. It is presented in part 3 of that volume, prior to the theory on the differentiation of capital into several functional forms — the division of surplus value into profit, interest and ground rent (parts 4–6). This indicates that there is a long way to go from the methodologically abstract level of that law to its actual concrete application. This indication is confirmed by Marx’s plans for the contents of the respective volumes of Capital, as laid down in several notes and letters.2

Keywords: Central Bank; Banking System; Technical Change; Finance Capital; Profit Rate (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-26121-5_12

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DOI: 10.1007/978-1-349-26121-5_12

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