The profit rate in the presence of financial markets: A necessary correction
In the past two decades the number, variety, and monetary value of marketable financial instruments, particularly securitized instruments, has grown by orders of magnitude. This is the most significant development in what many writers, for the most part Marxist, term 'financialisation'. It...
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Published in | Journal of Australian political economy no. 70; pp. 167 - 192 |
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Main Author | |
Format | Journal Article |
Language | English |
Published |
Sydney
Australian Political Economy Movement
22.06.2012
Journal of Australian Political Economy |
Subjects | |
Online Access | Get full text |
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Summary: | In the past two decades the number, variety, and monetary value of marketable financial instruments, particularly securitized instruments, has grown by orders of magnitude. This is the most significant development in what many writers, for the most part Marxist, term 'financialisation'. It brings to light, however, an anomaly in the way they calculate the profit rate. This calculation takes no account of the capital tied up in these instruments. |
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Bibliography: | JAPE.jpg Journal of Australian Political Economy, The, No. 70, Summer 2012: 167-192 |
ISSN: | 0156-5826 1839-3675 |