Repository logo
 

Profits and Fractal Properties: Notes on Marx, Countertendencies and Simulation Models

Accepted version
Peer-reviewed

Type

Article

Change log

Authors

Ribeiro, LC 
de Deus, LG 
Albuquerque, EDM 

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.

Description

Keywords

Complex systems, Marx, MEGA2 Project, metamorphoses of capitalism, rate of profit

Journal Title

Review of Political Economy

Conference Name

Journal ISSN

0953-8259
1465-3982

Volume Title

29

Publisher

Informa UK Limited
Sponsorship
Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES, Brazil), grant (BEX 0840/14-9)