THE HISTORICAL PEAK OF THE RATE OF SURPLUS VALUE AND THE “NEW NORMAL” OF THE CHINESE ECONOMY: A POLITICAL ECONOMY ANALYSIS
Autor(a) principal: | |
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Data de Publicação: | 2018 |
Tipo de documento: | Artigo |
Idioma: | por |
Texto Completo: | https://revistas.ufrj.br/index.php/rec/article/view/20623 |
Resumo: | This paper reports homogenous series of the rate of surplus value for the Chinese economy over the period 1956-2015 with a Marxian approach. It finds that the rate of surplus value reached the historical peak of the whole period in 2008 and that the high profitability in the decade before the 2008 crisis had relied on the continuous growth in the rate of surplus value. It provides a time series analysis to show that the rising wage pressure and value composition of capitalhas restrained profitability since 2008. Thus, this paper interprets the so-called “new normal” of the Chinese economy as a stage of declining profitability that results mainly from the stagnant rate of surplus value and the rising value composition of capital. |
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UFRJ-2 |
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Revista de Economia Contemporânea |
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THE HISTORICAL PEAK OF THE RATE OF SURPLUS VALUE AND THE “NEW NORMAL” OF THE CHINESE ECONOMY: A POLITICAL ECONOMY ANALYSISHao, Qirate of surplus valueprofitabilitynew normalChinese economyB51O53P2This paper reports homogenous series of the rate of surplus value for the Chinese economy over the period 1956-2015 with a Marxian approach. It finds that the rate of surplus value reached the historical peak of the whole period in 2008 and that the high profitability in the decade before the 2008 crisis had relied on the continuous growth in the rate of surplus value. It provides a time series analysis to show that the rising wage pressure and value composition of capitalhas restrained profitability since 2008. Thus, this paper interprets the so-called “new normal” of the Chinese economy as a stage of declining profitability that results mainly from the stagnant rate of surplus value and the rising value composition of capital. IE-UFRJ2018-09-25info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArtigo avaliado pelos Paresapplication/pdfhttps://revistas.ufrj.br/index.php/rec/article/view/20623Revista de Economia Contemporânea; Rev. Econ. Contemp., v. 22, n. 1, jan./abr. 2018Journal of Contemporary Economics; Rev. Econ. Contemp., v. 22, n. 1, jan./abr. 20181980-5527porhttps://revistas.ufrj.br/index.php/rec/article/view/20623/11848Copyright (c) 2018 Qi Haooai:ojs.pkp.sfu.ca:article/206232019-01-21T19:09:44Z |
dc.title.none.fl_str_mv |
THE HISTORICAL PEAK OF THE RATE OF SURPLUS VALUE AND THE “NEW NORMAL” OF THE CHINESE ECONOMY: A POLITICAL ECONOMY ANALYSIS |
title |
THE HISTORICAL PEAK OF THE RATE OF SURPLUS VALUE AND THE “NEW NORMAL” OF THE CHINESE ECONOMY: A POLITICAL ECONOMY ANALYSIS |
spellingShingle |
THE HISTORICAL PEAK OF THE RATE OF SURPLUS VALUE AND THE “NEW NORMAL” OF THE CHINESE ECONOMY: A POLITICAL ECONOMY ANALYSIS Hao, Qi rate of surplus value profitability new normal Chinese economy B51 O53 P2 |
title_short |
THE HISTORICAL PEAK OF THE RATE OF SURPLUS VALUE AND THE “NEW NORMAL” OF THE CHINESE ECONOMY: A POLITICAL ECONOMY ANALYSIS |
title_full |
THE HISTORICAL PEAK OF THE RATE OF SURPLUS VALUE AND THE “NEW NORMAL” OF THE CHINESE ECONOMY: A POLITICAL ECONOMY ANALYSIS |
title_fullStr |
THE HISTORICAL PEAK OF THE RATE OF SURPLUS VALUE AND THE “NEW NORMAL” OF THE CHINESE ECONOMY: A POLITICAL ECONOMY ANALYSIS |
title_full_unstemmed |
THE HISTORICAL PEAK OF THE RATE OF SURPLUS VALUE AND THE “NEW NORMAL” OF THE CHINESE ECONOMY: A POLITICAL ECONOMY ANALYSIS |
title_sort |
THE HISTORICAL PEAK OF THE RATE OF SURPLUS VALUE AND THE “NEW NORMAL” OF THE CHINESE ECONOMY: A POLITICAL ECONOMY ANALYSIS |
dc.creator.none.fl_str_mv |
Hao, Qi |
author |
Hao, Qi |
author_facet |
Hao, Qi |
author_role |
author |
dc.subject.none.fl_str_mv |
rate of surplus value profitability new normal Chinese economy B51 O53 P2 |
topic |
rate of surplus value profitability new normal Chinese economy B51 O53 P2 |
description |
This paper reports homogenous series of the rate of surplus value for the Chinese economy over the period 1956-2015 with a Marxian approach. It finds that the rate of surplus value reached the historical peak of the whole period in 2008 and that the high profitability in the decade before the 2008 crisis had relied on the continuous growth in the rate of surplus value. It provides a time series analysis to show that the rising wage pressure and value composition of capitalhas restrained profitability since 2008. Thus, this paper interprets the so-called “new normal” of the Chinese economy as a stage of declining profitability that results mainly from the stagnant rate of surplus value and the rising value composition of capital. |
publishDate |
2018 |
dc.date.none.fl_str_mv |
2018-09-25 |
dc.type.none.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Artigo avaliado pelos Pares |
format |
article |
status_str |
publishedVersion |
dc.identifier.none.fl_str_mv |
https://revistas.ufrj.br/index.php/rec/article/view/20623 |
url |
https://revistas.ufrj.br/index.php/rec/article/view/20623 |
dc.language.none.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://revistas.ufrj.br/index.php/rec/article/view/20623/11848 |
dc.rights.none.fl_str_mv |
Copyright (c) 2018 Qi Hao |
rights_invalid_str_mv |
Copyright (c) 2018 Qi Hao |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
IE-UFRJ |
publisher.none.fl_str_mv |
IE-UFRJ |
dc.source.none.fl_str_mv |
Revista de Economia Contemporânea; Rev. Econ. Contemp., v. 22, n. 1, jan./abr. 2018 Journal of Contemporary Economics; Rev. Econ. Contemp., v. 22, n. 1, jan./abr. 2018 1980-5527 |
repository.name.fl_str_mv |
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repository.mail.fl_str_mv |
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_version_ |
1789436682298195968 |