Date of Award
2015
Document Type
Thesis
Degree Name
Bachelors
Department
Social Sciences
First Advisor
Khemraj, Tarron
Keywords
Macroeconomics, United States, Capitalism, Profit Rate
Area of Concentration
Economics
Abstract
This thesis seeks to uncover determining factors of the behavior of the U.S. profit rate, which has exhibited a persistent downward trend for most of the 20th century. After neoclassical vs. Marxian theories of profit as well as a review of the profit rate literature are presented, a linear regression, utilizing an ARDL framework, tests for the potential impact of various macroeconomic variables. The final significant variables include the GDP growth rate, labor productivity, the interest rate, and the unemployment rate. The thesis concludes by considering the implications of these results for capitalist firms, with particular regard to labor productivity.
Recommended Citation
Moore, Tanya, "MACROECONOMIC DETERMINANTS OF THE U.S. PROFIT RATE, 1949-2001" (2015). Theses & ETDs. 5073.
https://digitalcommons.ncf.edu/theses_etds/5073