Profit Squeeze in the Duménil and Lévy Model-Reference-Cited by-同舟云学术

Profit Squeeze in the Duménil and Lévy Model

Published:2018-01-24 Issue:2 Volume:50 Page:297-316
ISSN:0486-6134
Container-title:Review of Radical Political Economics
language:en
Short-container-title:Review of Radical Political Economics

Author:

Thompson Stephen¹

Affiliation:

1. University of Maryland, Baltimore County, Baltimore, MD, USA

Abstract

This article looks at the implications of labor-supply limits and endogenous wage growth in the Duménil and Lévy model. A long-run relationship is established between the employment rate and capitalists’ decisions to reinvest profits. Elements of a Marxian approach to macroeconomic policy are sketched. New conditions are derived for being Kaleckian/Keynesian in the short run and classical Marxian in the long run.

Publisher

SAGE Publications

Subject

Economics and Econometrics,Philosophy

Link

http://journals.sagepub.com/doi/pdf/10.1177/0486613417701265

Reference36 articles.

1. An Introduction to the Wage Curve

2. Power and Profits: The Social Structure of Accumulation and the Profitability of the Postwar U.S. Economy

3. Growth cycles and inflation in a model of the class struggle

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