Book contents
- Some Cambridge Controversies in the Theory of Capital
- Some Cambridge Controversies in the Theory of Capital
- Copyright page
- Contents
- Figures
- Tables
- Foreword
- Preface to the First Edition
- Preface to the Fiftieth Anniversary Edition
- Introduction
- 1 Search for a Will-O’-The-Wisp: Capital As a Unit Independent of Distribution and Prices
- 2 Treacle, Fossils and Technical Progress
- 3 Solow on the Rate of Return: Tease and Counter-Tease
- 4 A Child’s Guide to the Double-Switching Debate
- 5 The Rate of Profits in Capitalist Society: Whose Finest Hour?
- Introduction to the Afterwords
- References: Some Cambridge Controversies in the Theory of Capital
- Index
5 - The Rate of Profits in Capitalist Society: Whose Finest Hour?
Published online by Cambridge University Press: 10 June 2022
- Some Cambridge Controversies in the Theory of Capital
- Some Cambridge Controversies in the Theory of Capital
- Copyright page
- Contents
- Figures
- Tables
- Foreword
- Preface to the First Edition
- Preface to the Fiftieth Anniversary Edition
- Introduction
- 1 Search for a Will-O’-The-Wisp: Capital As a Unit Independent of Distribution and Prices
- 2 Treacle, Fossils and Technical Progress
- 3 Solow on the Rate of Return: Tease and Counter-Tease
- 4 A Child’s Guide to the Double-Switching Debate
- 5 The Rate of Profits in Capitalist Society: Whose Finest Hour?
- Introduction to the Afterwords
- References: Some Cambridge Controversies in the Theory of Capital
- Index
Summary
In order to determine the rate of profits in capitalist society it is necessary, as we saw in Chapter 4, to introduce further factors from outside the production system itself. Certain economists – Kaldor, Joan Robinson, Pasinetti – have argued that the factors are the saving propensities associated with different classes of income-receivers in the community and the rate of growth of the economic system as given either by the rate of growth of the labour force and Harrod neutral technical progress or by the capitalists themselves, depending upon the author concerned.
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- Some Cambridge Controversies in the Theory of CapitalFiftieth Anniversary Edition, pp. 212 - 260Publisher: Cambridge University PressPrint publication year: 2022