Akademik Veri Yönetim Sistemi
15th Annual Conference in Political Economy Immigration: Crisis of the World Capitalist System, Crisis for the World Capitalist System, Ankara, Türkiye, 17 - 20 Eylül 2025, (Yayınlanmadı)
The
law of tendency of the profit rate to fall (LTRPF) has been a highly debated
area of research within Marxian Political Economy, as it highlights both to the
capabilities and inherent limitations of
the capitalist system. Although there is a substantial literature focused on
the behavior of the profit rate at both global and national levels, research on
the dynamic relationship between the tendency of the profit rate to fall and
the counter tendencies remains underdeveloped (with Basu and Manolakos (2012)
and Maniatis and Passas (2015) being exceptions). This study evaluates the
trend of profit rate in the Turkish manufacturing sector, spanning the period
between 1988-2020, replicating the methodology introduced by Basu and Manolakos
(2012). While the 2000s witnessed a significant decline in the profit rate, the evidence presented in the study reveals a
weak rising trend in the general rate of profit over the entire period, which
is mainly attributed to the reduction of real wages below the value of labor
power and the rise in the intensification of exploitation, which can be
referred as the increase in absolute surplus value. Considering that the LTRPF
appears in the long run, the study seeks to identify the underlying factors
cause profit rate rising temporarily.