Kalecki and the Declining Rate of Profit
Bibliographic Data
| ID | 12228892 |
|---|---|
| Authors | Jan Toporowski (0000-0001-8065-7157, corresponding author) |
| Year | 1999 |
| Volume | 11 |
| Issue | 3 |
| Pages | 355-371 |
| Publication date | 1999-07-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Review of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0953-8259 • E-ISSN: 1465-3982 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/095382599107075 |
| OpenAlex | W2005553010 |
| Language | EN |
| Citations received | 1 |
| References cited | 29 |
In Kalecki's business cycle theory a fall in the rate of profit plays a key role in the onset of recession, causing a fall in investment. This paper shows how the falling rate of profit is an eventual corollary of the steady rate of capital accumulation, which Keynes saw as the key to securing full employment. The decline in the rate of profit may be avoided by a shift to increasingly capital-intensive techniques of production, or greater government indebtedness or foreign trade imbalances. It is suggested that these disequilibrating factors lie behind the success of rapidly growing capitalist economies in the second half of the 20th century
Business cycle · Capital accumulation · Corollary · Economics · Exchange rate · Macroeconomics · Microeconomics · Monetary economics · Profit (economics · Profit rate · Rate of profit · Recession · Economic Theory and Institutions · Economic Theory and Policy · Political Economy and Marxism
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| Unique citing works | 1 |
|---|---|
| Citations per year | 1 |
| Citation span | 2025 - 2025 (1) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 1 |