Description

In this important book, Gerard Dumenil and Dominique Levy assess the impact of the profit rate on modern economies, its role in the allocation of resources among industries, its influence on business fluctuations, and its relation to accumulation, technological change and wages.

The Economics of the Profit Rate presents a broad synthesis of recent work and builds on classical theory, using the tools of modern economics, to suggest alternative approaches to conventional microeconomics and macroeconomics. In sharp contrast to the general equilibrium theory, the emphasis is placed on dynamics and the reaction of individual agents to disequilibrium. This impressive book includes an assessment of the history of the US economy in which theoretical and empirical analyses are consistently combined.

THE ECONOMICS OF THE PROFIT RATE: Competition, Crises and Historical Tendencies in Capitalism

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Hardback by Gérard Duménil , Dominique Lévy

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In this important book, Gerard Dumenil and Dominique Levy assess the impact of the profit rate on modern economies, its... Read more

    Publisher: Edward Elgar Publishing Ltd
    Publication Date: 01/01/1993
    ISBN13: 9781852787608, 978-1852787608
    ISBN10: 1852787600

    Number of Pages: 416

    Non Fiction , Business, Finance & Law

    Description

    In this important book, Gerard Dumenil and Dominique Levy assess the impact of the profit rate on modern economies, its role in the allocation of resources among industries, its influence on business fluctuations, and its relation to accumulation, technological change and wages.

    The Economics of the Profit Rate presents a broad synthesis of recent work and builds on classical theory, using the tools of modern economics, to suggest alternative approaches to conventional microeconomics and macroeconomics. In sharp contrast to the general equilibrium theory, the emphasis is placed on dynamics and the reaction of individual agents to disequilibrium. This impressive book includes an assessment of the history of the US economy in which theoretical and empirical analyses are consistently combined.

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