In: Economics
This format should allow you more time to think about your answer. The length of your answers should range from 2-4 paragraphs, depending on the complexity of the question. Each question is worth 10 points. Remember to use the readings and your class notes to answer the questions. Use citations/quotes and then go on to interpret and explain the quote in your own words.
Modern Marxian economics has sought to adapt Marx’s theory to contemporary capitalism. Three empirical studies demonstrate this. Describe the additional insights brought to the analysis of: (1) the productivity slowdown of the 1970s (Weisskopf, Bowles, Gordon); (2) the long-run change in the rate of profit (Dumenil and Levy); (3) the identification of financialization as a new phase of capitalist development (Lapavitsas).