Cyclical Growth: the Interdependent Dynamics of Industry and Agriculture

  • Edward J. Nell


Accumulation is one side of the golden coin of capitalism; the creation of the proletariat is the other. Historically, accumulation has meant the simultaneous dispossession of people and concentration of property, so that the dispossessed face the propertied in the free labor market (see Marx (1967), I, pp. 614, 620, 624).


Wage Rate Excess Capacity Profit Rate Effective Demand Golden Coin 
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Copyright information

© Edward J. Nell 1992

Authors and Affiliations

  • Edward J. Nell
    • 1
  1. 1.New School for Social ResearchNew YorkUSA

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