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ISBN: 9781773634197-05

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Marx’s Law of Profitability

Evidence and Controversy

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From: Twilight Capitalism

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This chapter surveys several attempts to empirically evaluate Marx’s law of the tendency of the rate of profit to fall, with a view to establishing its actuality as a law governing the cyclical dynamics of capitalist economies and influencing the secular

evolution of the capitalist mode of production.

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Contributors

Murray E.G. Smith

Murray E.G. Smith is Professor of Sociology at Brock University. He has been active on the socialist left in Canada since the 1970s, participating in a variety of campaigns and progressive movements for social change.

Jonah Butovsky

Jonah Butovsky is associate professor of sociology at Brock University.

Josh J. Watterton

Joshua J. Watterton is pursuing a PhD in geography at York University.