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ISBN: 9781773634197-05

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Marx’s Law of Profitability

Evidence and Controversy


From: Twilight Capitalism


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.



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.