Marx’s economic law of motion
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Date
2010.
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Publisher
Thesis (M.A.)-Bogazici University. Institute for Graduate Studies in Social Sciences, 2010.
Abstract
As the economist Stephen Cullenberg pointed out, for Marx, the law of falling rate of profit is the most important law of political economy. The central theses of this study are [a] that Marx’s law of falling rate of profit is an idealized law in the sense that the law should be seen within a theoretical model Marx constructed to represent an aspect of capitalist mode of production, and [b] that the law is perspectival in the Gierean sense, that is, it is limited, partial, contingent, context-, agent- and purposedependent.