An Empirical Study on the Crisis Theory Concerning Profit Rate Decline:
A Review of The Failure of Capitalist Production: Underlying
Causes of the Great Recession

LIU Lei

Journal of Renmin University of China ›› 2014, Vol. 28 ›› Issue (2) : 117-124.

PDF(415 KB)
主管:教育部
主办:中国人民大学
ISSN 1000-5420  CN 11-1476/C
PDF(415 KB)
Journal of Renmin University of China ›› 2014, Vol. 28 ›› Issue (2) : 117-124.

An Empirical Study on the Crisis Theory Concerning Profit Rate Decline:
A Review of The Failure of Capitalist Production: Underlying
Causes of the Great Recession

  •  LIU  Lei
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Abstract

 In his book The Failure of Capitalist Production: Underlying Causes of the Great Recession, Andrew Kliman developed an empirical analysis on the 20072008 financial crisis, based on the law of the tendential fall in the rate of profit. He argues that the underlying causes of the last crisis is rooted in the continuous fall in the historicalcost rate of profit of US corporate since 1950s, and its historical foundation is the artificially stimulation against the relative stagnation in economy since 1970s crisis. The last crisis makes it clear that the capitalist production is proved to be a failure.

Key words

 historical-cost rate of profit  / the law of tendential fall in the rate of profit  / economic crisis

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LIU Lei. An Empirical Study on the Crisis Theory Concerning Profit Rate Decline:
A Review of The Failure of Capitalist Production: Underlying
Causes of the Great Recession[J]. Journal of Renmin University of China, 2014, 28(2): 117-124
PDF(415 KB)

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