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The Equalization of the Rate of Profit Reconsidered

  • Ryuzo Kuroki
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 275)

Abstract

It is well-known that Adam Smith distinguished between “the market price” and “the natural price”, and considered the latter as the central price to which the former tends to converge with the passage of time1). The concept of “the normal rate of profit (or the general rate of profit)” that is equal among all sectors and industries, which is common to David Ricardo, Karl Marx, and other Classical Schools, is also closely related to the concept of the central price.

Keywords

Equilibrium Price Relative Price Capital Good Excess Demand Uniform Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 1986

Authors and Affiliations

  • Ryuzo Kuroki
    • 1
  1. 1.Department of EconomicsOsaka Industrial UniversityDaito, OsakaJapan

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