What does determine the profit rate? The neoclassical theories presented in introductory textbooks

Article Abstract:

The internal inconsistencies in textbook presentations of neoclassical theories of profit rate lies in the controversy over capital. The non-monotonic relationship between capital, interest rate, and problems of circularity in aggregating capital are generally ignored in the theories, causing inconsistencies. The neoclassical theory holds that the interest rate and normal profit rate are real phenomena, which are determined in the market for real wealth. The neoclassical school has failed to develop a coherent theory of profit rate.

Profit, Accounting and auditing, Profits, Influence, Interest rates

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Market, government and Malaysia's new economic policy

Article Abstract:

Research exploring political factors behind economic growth, redistribution and poverty alleviation in Malaysia is presented. Particular attention is given to the role of the government and of market coordination policies in promoting economic improvement.

Economic policy, Malaysia

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The demise of radical political economics? An essay on the evolution of a theory of capitalist production

Article Abstract:

There are problems with a move toward neoclassical economics by former radical economists, Herbert Gintis and Samuel Bowles. There is a need to understand class conflict under capitalism and to understand production in terms of social relations.

Economic aspects, Capitalism

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