Technical Change and the Rate of Profit: An Obituary for Okishio's Theorem

1990 ◽  
Vol 22 (8) ◽  
pp. 1039-1050 ◽  
Author(s):  
D L Rigby
2021 ◽  
pp. 048661342110058
Author(s):  
Junshang Liang

In a two-sector model with circulating capital, Laibman (1982) shows that a capital-using and labor-saving technical change in the consumption goods sector lowers the rate of profit under the assumption of constant rate of exploitation. This paper generalizes his finding in a two-department multi-sector model that considers the capital advanced. JEL Classification: B51, C67


1988 ◽  
Vol 20 (11) ◽  
pp. 1487-1505 ◽  
Author(s):  
M Webber ◽  
S Tonkin

In this paper the histories of profitability and accumulation in the textile, knitting, and clothing industries of Canada are examined, over the period 1952–81. These histories are quite different from those of other industries and of Canadian manufacturing as a whole. In the clothing industry, capitalists have relied upon increasing rates of exploitation to maintain their high rates of profit, and there has been only limited technical change; in the textile industry, the technical composition of capital has risen, and its negative effects on profitability have been offset by changes in the turnover time and the rate of exploitation; the knitting industry lies between these two extremes.


2019 ◽  
pp. 15-35
Author(s):  
David Harvey

David Harvey apresenta uma crítica à importância dada à lei da queda tendencial da taxa de lucro, sugerindo que Marx derivou a “lei” de pressupostos “draconianos” e que Engels foi bem mais entusiasta dela do que Marx, que nunca voltou adiante à teoria apesar de sua evidente incompletude. Portanto, ele argumenta, não deveríamos levar suas conclusões teóricas muito longe. Em sua visão, Marx concebeu as crises como erupções momentâneas e violentas que resolviam as contradições existentes, que podem ser consideradas oportunidades para a reconstrução capitalista ao invés de um sinal do fim eminente do capitalismo. Harvey defende que a taxa de lucro pode ser estabilizada por uma variedade de fatores como uma desvalorização do capital constante devido à mudança tecnológica, a monopolização ou a aceleração do tempo de rotação tanto na produção como na circulação. Ele argumenta, ainda, que um aumento da produtividade que não seja associado a perdas de emprego não reduziria a produção de mais-valia. Ademais, uma queda nas taxas de lucro pode resultar de muitos outros motivos além do aumento da composição orgânica do capital. ABSTRACTDavid Harvey’s article argues against the importance given to the law of the tendency of the rate of profit to fall (TRPF), suggesting that Marx derived the “law” under “draconian” assumptions and that Engels was far more enthusiastic about it than Marx, who never went back to the theory later in his life despite its evident incompleteness. Therefore, he argues, we should not take his theoretical conclusions too far. In his view, Marx perceived crises as momentary and violent eruptions that resolve the existing contradictions which can be considered as opportunities of capitalist reconstruction rather than a sign of the imminent end of capitalism. Harvey argues that the rate of profit can be stabilized by a variety of factors such as a devaluation of the existing constant capital due to technical change, monopolization, or accelerating turnover times in both production and circulation. He argues, moreover, that a productivity increase that is not associated with job losses would not reduce surplus value production. Moreover, a fall in profit rates could result from a number of reasons rather than an increase in the organic composition of capital. Tradução: Cássio Arruda Boechat ([email protected])


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