Tag Archives: profit rate

Following below is the video recording of the PANEL 8. ‘Capitalist Accumulation and the Financialisation Hypothesis: a Critical Review‘, that took place during the 15th WAPE Forum. The chair and discussant of the panel was Lefteris Tsoulfidis (Professor of History of Economic Thought, Department of Economics, University of Macedonia, Thessaloniki, Greece). The panelists were: Stavros Mavroudeas (Vice Chair of the World Association for Political Economy, Professor of...

Last week I gave a lecture in the seminar series on Marxist political economy organised by the Department of Development Studies at the School of Oriental and African Studies (SOAS). The Marxist Political Economy series is a course mainly for post-graduates and has several lecturers on different aspects of Marxian economics. Course Handbook – Marxist Political Economy 2019-20 (8)Mine was on Marx’s law of the tendency of the rate of profit to fall. Not surprisingly, the department team has...

I have been reporting for months that the indicator we should all be monitoring is Real Gross Private Domestic Investment.... Forbes — Pragmatic EconomicsIs Falling Investment Spending The Last Nail In The Coffin? John T. Harvey | Professor of Economics, Texas Christian University

Michael Roberts reviews and critiques The Debt Delusion by John Weeks.Michael Roberts Blog — blogging from a marxist economistThe debt delusionMichael Roberts

Are the faults of capitalism curable, or are they instead symptoms of a chronic disease? This is the question posed by Martin Wolf: What we increasingly seem to have…is an unstable rentier capitalism, weakened competition, feeble productivity growth, high inequality and, not coincidentally, an increasingly degraded democracy. There is much to admire in this piece. But I fear it understates the problem with capitalism.... Falling rate of profit?Stumbling and MumblingThe trouble with...

Below follow the text and the links for downloading of my contribution title ‘The 4th Industrial Revolution: Myth or Reality?’ at the Workshop organized by Union of Economists of Secondary Education Teachers on 15/2/2019 in Thessaloniki Workshop: ‘The Economy on the Horizon of the Fourth Industrial Revolution’ Thessaloniki, 15/2/19 ‘’ Stavros Mavroudeas Prof. of Political Economy Panteion University e-mail: [email protected]   Abstract The term ‘4th Industrial Revolution’ is...

Falling aggregate profit rate? As James Montier, the post-Keynesian economist at GMO, the large asset fund manager, points out, real earnings growth in the corporate sector has been below the rate of real GDP growth even after the significant boost from the financial engineering from share buybacks. According to Montier, when you dig down into the market you find that a staggering 25-30 per cent of firms are actually making a loss. In Montier’s view, “the US is witnessing the rise of the...

Last Friday I took part in a panel to launch a new book, World in Crisis: A Global Analysis of Marx’s Law of Profitability, published by Haymarket Books, edited by Michael Roberts and Guglielmo Carchedi. The presentation was at this year’s Historical Materialism conference in London. My presentation was on ‘Finance, Imperialism and Profits’, in which I stressed the need to develop Marx’s theory in order to explain the world today. I argued that an accurate measure of a rate of profit (in...

Michael Roberts looks at past stock market declines from the POV of the profit rate. Different conditions applied in each case, and the contemporary situation is different, too.Michael Roberts BlogStock market crash: 1987, 2007 or 1937? Michael RobertsKeynes.Stumbling and MumblingEmergence in stock marketsChris Dillow | Investors Chronicle Markets in financial instruments are comprised of two principal cohorts. The first cohort is comprised of "investors," who buy to hold longer term....

The latest data for net fixed assets in the US have been released, enabling me to update the calculations for the US rate of profit a la Marx up to 2016. Last year, I did the calculations with the help of Anders Axelsson from Sweden, who not only replicated the results to ensure their accuracy (and found mistakes!), but also produced a manual for carrying out the calculations that anybody could use. As I did last year and in previous years, I have also updated the rate of profit using the...