Economía marxista para el Siglo XXI

Michael Roberts Blog

In my last post (, I updated my calculations on the US rate of profit since 1945 with the latest data on profits and fixed assets provided by the US Bureau of Economic Analysis.  Based on my measure of profits and assets, which I reckon is the closest to what Marx considered his rate of profit (with all the caveats and provisos that I and others have discussed at length – see my paper, The profit cycle and economic recession, I found this.

US rate of profit

My main conclusions were that: 1) there was a secular decline in the US rate of profit from 1946 to 2012; 2) but it was not in a straight line, because from about the early 1980s, the rate of profit recovered up until about 1997. The recovery did not restore the previous high level of the rate of profit seen in the 1960s; 3)…

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