Behind the Crisis: The Exhaustion of a Regime of Accumulation. A "regulation school" perspective on some French empirical works

Abstract

The theory of a fall in the rate of profit due to a rise in the organic composition of capital has been too quickly discarded in recent years. A mathematical theorem shows that this phenomenon is viable under a "monopoly regulation." Data suggest that both a rise in organic composition and a "productivity-pull profit squeeze" could be at the root of the present crisis.