Land, technical progress and the falling rate of profit

Übernahme per Copy & Paste
Bibtex-Export
Endnote-Export

[Zeitschriftenartikel]

Petith, Howard

(615 KByte)

Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-248113

Abstract	The paper sets out a one sector growth model with a neoclassical production function in land and a capital–labour aggregate. If the elasticity of substitution between land and the capital–labour aggregate is less than one and if the rate of capital augmenting technical progress is strictly positive, then the rate of profit will fall to zero. This result holds regardless of the rate of land augmenting technical progress: no amount of technical advance in agriculture can stop the fall in the rate of profit. The paper also discusses the relation of this result to the classical and Marxist literature.
Klassifikation	Volkswirtschaftslehre; Allgemeines, spezielle Theorien und "Schulen", Methoden, Entwicklung und Geschichte der Wirtschaftswissenschaften
Freie Schlagwörter	Marx; classical economics; the falling rate of profit
Sprache Dokument	Englisch
Publikationsjahr	2008
Seitenangabe	S. 687-702
Zeitschriftentitel	Journal of Economic Behavior & Organization, 66 (2008) 3-4
DOI	http://dx.doi.org/10.1016/j.jebo.2006.08.004
Status	Postprint; begutachtet (peer reviewed)
Lizenz	PEER Licence Agreement (applicable only to documents from PEER project)