Profits and Fractal Properties: Notes on Marx, Countertendencies and Simulation Models
View / Open Files
Publication Date
2017Journal Title
Review of Political Economy
ISSN
0953-8259
Publisher
Informa UK Limited
Volume
29
Issue
2
Type
Article
Metadata
Show full item recordCitation
Ribeiro, L., de Deus, L., Loureiro, P., & Albuquerque, E. (2017). Profits and Fractal Properties: Notes on Marx, Countertendencies and Simulation Models. Review of Political Economy, 29 (2) https://doi.org/10.1080/09538259.2016.1265823
Abstract
© 2017 Informa UK Limited, trading as Taylor & Francis Group. There are new reasons for revisiting Marx’s elaboration on the rate of profit because contemporary debates provide findings from the MEGA Project, long-term data on the rate of profit, and tools for dealing with complexity and non-equilibrium systems. This article proposes that the interplay between the tendency and the countertendencies of the rate of profit to fall can be translated into a simple system of equations, one based on each chapter of Section Three of Capital—as if Marx sought to mathematically formalise his insights. This article reviews previous debates, presents data and runs a simulation model, showing that the rate of profit behaves as fractals.
Keywords
Complex systems, Marx, MEGA2 Project, metamorphoses of capitalism, rate of profit
Sponsorship
Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES, Brazil), grant (BEX 0840/14-9)
Identifiers
External DOI: https://doi.org/10.1080/09538259.2016.1265823
This record's URL: https://www.repository.cam.ac.uk/handle/1810/285950
Rights
Licence:
http://www.rioxx.net/licenses/all-rights-reserved
Statistics
Total file downloads (since January 2020). For more information on metrics see the
IRUS guide.
Recommended or similar items
The current recommendation prototype on the Apollo Repository will be turned off on 03 February 2023. Although the pilot has been fruitful for both parties, the service provider IKVA is focusing on horizon scanning products and so the recommender service can no longer be supported. We recognise the importance of recommender services in supporting research discovery and are evaluating offerings from other service providers. If you would like to offer feedback on this decision please contact us on: support@repository.cam.ac.uk