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Where do we go from here?

Published online by Cambridge University Press:  17 August 2016

Duncan K. Foley*
Affiliation:
Barnard College, Columbia University, New York
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Summary

Duménil and Levy’s Economics of the Profit Rate makes major contributions to our theoretical and empirical understanding of advanced capitalist economies. Questions and problems for further research raised by their work concern their definition of stability, the relation of finance to production, the role of the profit rate in the Great Depression, the secular rise in real wages and the pattern of technical change in the U.S. economy, econometric problems identifying low frequency macroeconomic patterns, and the relation of the corporate revolution to macroeconomic performance.

Résumé

Résumé

The Economics of the Profit Rate, de Duménil et Levy, apporte une contribution majeure à notre compréhension théorique et empirique des économies capitalistes avancées. Les questions et problèmes que soulève leur travail pour des recherches futures concernent leur définition de la stabilité, la relation entre finance et production, le rôle du taux de profit dans la Grande Dépression, la croissance séculière des salaires réels et le processus de changement technique dans l’économie américaine, des problème économétriques dans l’identification des régularités macroéconomiques à basses fréquences et le lien entre la révolution dans l’organisation des firmes et la performance macroéconomique.

Type
Research Article
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1995 

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References

Duménil, G. and Levy, D. [1993], The Economics of the Profit Rate: Competition, Crises, and Historical Tendencies in Capitalism, Aldershot, England, Edward Elgar Publishing.Google Scholar
Marglin, Stephen A. [1984], Growth, distribution and prices, Cambridge, Mass., Harvard University Press.Google Scholar
Minsky, Hyman P. [1986], Stabilizing an unstable economy, New Haven, CT, Yale University Press.Google Scholar