The Rate of Surplus Value, the Organic Composition of Capital and the Rate of Profit in Greek Manufacturing

Abstract

This is an empirical paper that reports estimates of some basic marxian variables for the Greek manufacturing sector for the period 1960-1983. It is shown that the organic composition of capital follows an increasing trend while the rate of surplus value and the rate of profit fluctuate with no apparent trend. It is also shown that the productivity of labor varies more than the wage rate.