TY  - CHAP
AB  - Dumenil-Levy and Foley (DLF) attempt to show that the falling rate of profit can be induced by applying Okishio's criterion of technical choice to DLF's framework on the evolution of potential technical change. This paper examines what would happen if Shaikh's criterion is applied to DLF's framework on the evolution of potential technical change. The following result is derived: while both criteria induce the K/L (capital-labor ratio) — increasing falling rate of profit at a sufficiently high wage share, only Shaikh's criterion induces the K/L — increasing falling rate of profit under a constant real wage (or a low wage share).
VL  - 19
SN  - 978-0-76230-838-5, 978-1-84950-133-0/0161-7230
DO  - 10.1016/S0161-7230(01)19005-X
UR  - https://doi.org/10.1016/S0161-7230(01)19005-X
AU  - Park Cheol-Soo
ED  - Paul Zarembka
PY  - 2001
Y1  - 2001/01/01
TI  - Criteria of technical choice and evolution of technical change
T2  - Marx's Capital and Capitalism; Markets in a Socialist Alternative
T3  - Research in Political Economy
PB  - Emerald Group Publishing Limited
SP  - 87
EP  - 106
Y2  - 2024/05/03
ER  -