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The falling rate of profit and the great recession

Jones, Peter


This thesis develops a new, temporalist interpretation of Marx's value theory. It applies this to US national accounting statistics, in order to test Marx's Law of the Tendential Fall in the Rate of Profit (LTFRP) and whether it can explain the causes of the Great Recession of 2007 - 2009 in the US. It finds that movements in the rate of profit in the US conform to Marx's law and that the Great Recession can be explained by a prior decline in the US rate of profit. It also gives empirical...[Show more]

CollectionsOpen Access Theses
Date published: 2015
Type: Thesis (PhD)
DOI: 10.25911/5d5fc9a75f253
Access Rights: Open Access


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