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Letting the Data Speak for itself?

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This paper reviews Andrew Kliman's recent book, The Failure of Capitalist Production: Underlying Causes of the Great Recession. His view on the rate of profit is critically appraised. It will also be shown that results from the book are not necessarily incompatible with the implication of the Okishio theorem. Contrary to Kliman’s claim, it is impossible to let the data speak for itself.

Abstract

This paper reviews Andrew Kliman's recent book, The Failure of Capitalist Production: Underlying Causes of the Great Recession. His view on the rate of profit is critically appraised. It will also be shown that results from the book are not necessarily incompatible with the implication of the Okishio theorem. Contrary to Kliman’s claim, it is impossible to let the data speak for itself.

참고문헌 (6)

  1. Fleetwood, S., "Laws and Tendencies in Marxist Political Economy", Capital and Class, 36(2), pp.235~262 (2012)
  2. Kliman, A., "Reclaiming Marx’s Capital: A Refutation of the Myth of the Inconsistecy" (2007), Lexington Books
  3. Kliman, A., "The Failure of Capitalist Production: Underlying Causes of the Great Recession" (2011), Pluto Press
  4. Kliman, A, "Why “Financialization” Hasn’t Depressed U.S. Productive Investment", Paper presented at Association for Heterodox Economics Conference, Paris (2012)
  5. Okishio, N., "Competition and Production Prices", Cambridge Journal of Economics, 25(4), pp.493~501 (2001)
  6. Rieu, Dong-Min., "HAS THE OKISHIO THEOREM BEEN REFUTED?", METROECONOMICA, 60, pp.162~178 (2009), Wiley-Blackewell

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