Does capital dream of chronic depression?
The study asks what role Karl Marx’s theory of the law of the tendency of the rate of profit to fall has in explaining transformation, crises and secular stagnation in Sweden. Support is presented for the “law”, with Sweden exhibiting a long-term secular decline in the rate of profit throughout the late 19th and 20th century. For the period 1950-2016, there is a strong tendency towards “Marx-biase
