Here’s a new paper:
We use a vector autoregression (VAR) methodology to assess the empirical relevance of an augmented CPS [cyclical profit squeeze] model for the U.S. economy…Our results are consistent with the operation of the CPS mechanism, both under regulated and neoliberal capitalism. This suggests that Marx’s analysis of the fluctuations of the reserve army of labour…remains a powerful analytical framework for understanding macroeconomic fluctuations in capitalism.
Latest posts by Tombuktu (see all)
- Pareto at Melos | Cosma Shalizi - September 13, 2012
- The G192 report | Robert H Wade - August 15, 2012
- Can Europe’s Mainstream Left Reconnect with Socialism and Economic Democracy? | Nyegosh Dube - July 17, 2012
- Mark Ames | The Quiet Extermination Of Labor Rights From Human Rights - June 25, 2012
- Chris Dillow | Marx was right - March 20, 2012