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INTERNATIONAL PERSPECTIVES ON PROFITABILITY AND ACCUMULATION (Hardcover)
Loot Price: R3,085
Discovery Miles 30 850
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INTERNATIONAL PERSPECTIVES ON PROFITABILITY AND ACCUMULATION (Hardcover)
Series: New Directions in Modern Economics series
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Has the rate of profit been falling in industrialised countries?
What are the factors that are responsible for its increase over
time and what factors account for its decline. The rate of profit
is a key economic variable. It directly affects the rate of
economic growth, both as a source of funds and as an inducement for
new investment. It also bears on the distribution of income between
wage earners and owners of capital.This important volume of
original essays undertakes a rigorous statistical analysis of
profitability trends and factors that affect their movement. The
results indicate that the profit rate in industrialized economies
has been declining over the long term, but the trend is far from
uniform, with profitability increasing during the 1980s. The
authors also find that several factors have played key roles in
causing changes in profitability. Amongst the most important are
investment, technology change, movements in the real wage, turnover
rates, the growth of unproductive labour, structural change in the
economy, work effort, labour-capital relations and public policy.
International Perspectives on Profitability and Accumulation fills
an important gap in the literature on this important economic and
policy issue.
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