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The Composition of Capital and the Rate of Profit: A Reply to Laibman

dc.contributor.authorThompson, Franken_US
dc.date.accessioned2010-04-14T13:54:03Z
dc.date.available2010-04-14T13:54:03Z
dc.date.issued1998en_US
dc.identifier.citationThompson, Frank (1998). "The Composition of Capital and the Rate of Profit: A Reply to Laibman." Review of Radical Political Economics 1(30): 90-107. <http://hdl.handle.net/2027.42/68692>en_US
dc.identifier.issn0486-6134en_US
dc.identifier.urihttps://hdl.handle.net/2027.42/68692
dc.description.abstractIn response to a critique by Laibman (1996) of earlier work (Thompson 1995) exploring the effect of technical change and accumulation on the real wage rate and thus, via the Okishio Theorem, the rate of profit, it is demonstrated that in a wide range of one-sector models (including that of Laibman) of a capitalist economy, increases in the composition of capital do not cause a fall in the equilibrium rate of profit. On the contrary, if anything, increases in the composition of capital cause the rate of profit to be higher.en_US
dc.format.extent3108 bytes
dc.format.extent1878942 bytes
dc.format.mimetypetext/plain
dc.format.mimetypeapplication/pdf
dc.publisherSage Publications, Thousand Oaks, CAen_US
dc.titleThe Composition of Capital and the Rate of Profit: A Reply to Laibmanen_US
dc.typeArticleen_US
dc.subject.hlbsecondlevelEconomicsen_US
dc.subject.hlbsecondlevelPolitical Scienceen_US
dc.subject.hlbtoplevelGovernment, Politics and Lawen_US
dc.description.peerreviewedPeer Revieweden_US
dc.contributor.affiliationumDepartment of Economics, University of Michigan, Ann Arbor, MI 48109, fthom@umich.eduen_US
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/68692/2/10.1177_048661349803000104.pdf
dc.identifier.doi10.1177/048661349803000104en_US
dc.identifier.citedreferenceFoley, Duncan K. 1986. Understanding Capita L Marx's Economic Theory. Cambridge: Harvard University Press.en_US
dc.identifier.citedreferenceKatz, Arnold J., and Shelby W. Herman. 1997. Improved Estimates of Fixed Reproducible Wealth, 1929-95. Survey of Current Business (May): 69-92.en_US
dc.identifier.citedreferenceLaibman, David. 1996. Technical Change, Accumulation and the Rate of Profit Revisited. Review of Radical Political Economics28(2): 33-53.en_US
dc.identifier.citedreferenceMaddison, Angus. 1995. Monitoring the World Economy: 1820-1992. Paris: OECD.en_US
dc.identifier.citedreferenceMarx, Karl. 1981 (1894). Capita L A Critique of Political Economy, Volume 3. London: Pelican Books.en_US
dc.identifier.citedreferenceRomer, David. 1996. Advanced Macroeconomics. New York: Mc Graw-Hill.en_US
dc.identifier.citedreferenceThompson, Frank. 1995. Technical Change, Accumulation and the Rate of Profit. Review of Radical Political Economics27(1): 97-126.en_US
dc.identifier.citedreferenceU.S. Department of Commerce, Bureau of Economic Analysis. 1997. Survey of Current Business (May): 10-29.en_US
dc.owningcollnameInterdisciplinary and Peer-Reviewed


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