E11 - General Aggregative Models: Marxian; Sraffian; KaleckianNávrat zpět

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Analysis of the Law of Falling Rate of Profit: European Case

Víctor M. Fernández-Aguilera, Ignacio Amate-Fortes, Almudena Guarnido-Rueda

Politická ekonomie 2022, 70(2):193-208 | DOI: 10.18267/j.polek.1342

This work aims to analyse the existence or non-existence of a decreasing rate of profit in Europe and determine the factors influencing it according to the Marxist theory of profitability. To do so, a panel data model was estimated for seven European countries over more than 60 years (from 1960 to 2021, inclusive). The results obtained allow us to verify the tendency for profitability to fall, which could lead the capitalist system to fail.