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Title: | Capital intensity, unproductive activities and the Great Recession in the US economy |
Authors: | Tsoulfidis, Lefteris Paitaridis, Dimitris |
Type: | Article |
Subjects: | FRASCATI::Social sciences FRASCATI::Social sciences::Economics and Business::Economics |
Keywords: | Composition of capital capital accumulation rate of profit growth accounting |
Issue Date: | 2019 |
Source: | Cambridge Journal of Economics |
Volume: | 43 |
Issue: | 3 |
First Page: | 623 |
Last Page: | 647 |
Abstract: | The purpose of this article is to show that the ‘great recession’ of 2007 in the USA is of the classical type with basic features the rising value composition of capital which more than fully offset the rising rate of surplus-value giving rise to a falling rate of profit. The tendential fall of the latter, from a point onwards, led to a nearly stagnant mass of real net profits, thereby decreased net investment and eventually impacted on employment. The evolution of capital intensity and the consequences of unproductive activities remain key issues in the discussions of capital accumulation and its periodic ruptures. |
URI: | https://doi.org/10.1093/cje/bey051 https://ruomo.lib.uom.gr/handle/7000/845 |
ISSN: | 0309-166X 1464-3545 |
Other Identifiers: | 10.1093/cje/bey051 |
Appears in Collections: | Department of Economics |
Files in This Item:
File | Description | Size | Format | |
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Capital Intensity Unproductive Activities.pdf | 1,1 MB | Adobe PDF | View/Open |
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