Abstract
Adam Smith, David Ricardo, Karl Marx, John Stuart Mill and John Maynard Keynes all expected the rate of profit to decline in the longest of long runs. It goes without saying that their reasons differ, with the result that we have several theories which point to this possibility.
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Eltis, W. (2018). Falling Rate of Profit. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_227
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DOI: https://doi.org/10.1057/978-1-349-95189-5_227
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