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Título

A Marxian Model of the Breakdown of Capitalism

AutorPetith, Howard
Palabras claveMarx, Karl
Rate of profit
Rate of exploitation
Composition of capital
Fecha de publicación19-abr-2001
SerieUFAE and IAE Working Papers
484.01
ResumenThis paper sets out a Marxian model that is based on the one by Stephen Marglin with one sector and continuous substitution. It is extended by adding technical progress and land as a factor of production. It is then shown that capital accumulation causes the preconditions for the breakdown of capitalism to emerge; that is, it causes the organic composition of capital to rise, the rate of profit to fall and the rate of exploitation to rise. A compressed history of the idea of the breakdown of capitalism is then set out and an explanation is given as to how the model relates to this and how it may serve as the basis for further research.
DescripciónThis paper first appeared as a working paper of the UAB in 1992.
URIhttp://hdl.handle.net/10261/1907
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