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Devaluation and Marx's Law of the tendential fall in the rate of profit

Jones, Peter


Marx's law of the tendential fall in the rate of profit predicts that the rate of profit will decline over the long term as the forces of production develop, and move cyclically in a way that explains crises and economic recoveries. This interpretation is substantiated with textual evidence, and with a method for measuring the dynamic of devaluation and revaluation which Marx uses to explain the profit rate cycle. This method is shown to be consistent with temporalism, meaning it avoids the...[Show more]

CollectionsANU Research Publications
Date published: 2016
Type: Journal article
Source: Review of Political Economy
DOI: 10.1080/09538259.2016.1142714


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