Economics, Econometrics and Finance
3 years ago

Private capitalists maximize profits by choosing production techniques based on expected rates.

Palgrave Macmillan UK eBooks
Choice of Technique and the Rate of Profit
N. Okishio

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The main goal of the article is to understand how private capitalists make decisions about which production techniques to use in order to maximize their profits. They base their decisions on expectations of commodity prices and wage rates.