Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/324053 
Authors: 
Year of Publication: 
2021
Citation: 
[Journal:] PSL Quarterly Review [ISSN:] 2037-3643 [Volume:] 74 [Issue:] 298 [Year:] 2021 [Pages:] 219-245
Publisher: 
Associazione Economia civile, Rome
Abstract: 
It is assumed that Marx focuses on profits that are to be realized in larger production that permits some surplus production. This understanding underpins the importance of increasing returns embedded in employment dynamics associated with larger employment bases. This organizational form not only permits increases in profits in production but also supports employment-based learning by doing-led new investment opportunities that maintain and increase such profits. The conception of profits changes from the employment dynamics-based one, to one that relies more on market power-based returns. Accordingly, the present paper argues that empirical analyses should not focus on a falling rate of profits as such: they should rather focus on what factors make clear the behaviour of the rate of profit, and clearly distinguish between the employment dynamics-based profits and the profits that relate more to the returns to higher fixed costs.
Subjects: 
rate of profit
increasing returns
employment dynamics
scale economies
market power
JEL: 
B5
E11
O14
P17
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.