Social Sciences
2 years ago

Okishio Theorem Debunked: Capitalist Profit Decline Inevitable Without Labor Distinction

World Review of Political Economy
Analysis of the Okishio Theorem
Bin Yu

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The Okishio theorem challenges Marx's idea that profit rates always decline in capitalism. By analyzing the theorem, it was found that it doesn't consider all types of labor and has flaws in its mathematical model. Surprisingly, a decline in profit rates can still happen even if not all companies increase their capital.