Dumenll & LevyIBrenner on Distribution Brenner on Distribution Gerard Dumenil and Dominique Levy Introduction This paper discusses one important component of the analysis of the decline of the profit rate in recent decades in Robert Brenner's Economics of Global Turbulence. Our single focus in this paper is Brenner's implicit theory of distribution. It must be emphasised from the outset that the present discussion does not question the central role given by Brenner to the profit rate in his investigation of the crisis which began in the 1970s. There is nOWa significant convergence among Marxists concerning the decline of the profit rate, diminished accumulation rates, and the slowdown of labour productivity - in the US as well in major capitalist countries. In combination with the reassertion of the power of financ,:ialcapital within neoliberalism and the threat of a major financial crisis, these developments have sparked new interest in Marxist economics and Marxism in general. One can distinguish between two components in Brenner's approach to the decline of the profit rate. A first aspect, to which he devotes much attention, concerns competition within manufacturing industries among major capitalist countries. The second aspect is Brenner's analysis of distribution. A discussion of
Historical Materialism – Brill
Published: Jan 1, 1999
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