The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Profit and Profit Theory

  • Meghnad Desai
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1319

Abstract

A theory of profit should address itself to at least three questions – about the size (volume) of profit, its share in total income and about the rate of profit on capital invested. Each of these three issues (size, share, rate, hereafter) can be examined at three separate levels of aggregation, the firm, the industry or the economy.

Keywords

Abstinence theory of profits Aggregate production function Arrow−Debreu model of general equilibrium Capital accumulation Capital theory Clark, J.B. Cobb−Douglas functions Constant and variable capital Contingent commodities Depreciation Division of labour Entrepreneurship Exchange value and use value Exploitation Falling rate of profit Innovation Interest Investment rate Joint production Kaldor Kalecki, M. Keynes, J. M. Kondratieff cycles Labour power Lamberton, D. M. Luxemburg, R. Marginal productivity theory Marx, K. H. Organic composition of capital Physiocracy Population growth Produit net Profit and profit theory Quasirent Rent Risk Saving and investment Schumpeter, J. A. Shackle, G. L. S. Sraffa, P. Surplus Surplus value Taylorism Technical progress Technology Uncertainty Use value Variable capital von Neumann, J 

JEL Classifications

D2 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Meghnad Desai
    • 1
  1. 1.