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Published in:
1991 | OriginalPaper | Chapter
Marx, Keynes, Kalecki and Kaldor on the Rate of Interest as a Monetary Phenomenon
Author : B. J. Moore
Published in: Nicholas Kaldor and Mainstream Economics
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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In the investigation of how the social surplus was distributed, Adam Smith, David Ricardo, J. S. Mill and Karl Marx all viewed the rate of interest as some proportion of the rate of profits. Their analysis attempted to describe the factors which determined this proportion, and which prevented the rate of profit from falling to the rate of interest.