WHY THE PROFIT RATE MUST FALL PART 1. INTRODUCTION

The tendency of the rate of profit to fall is a necessary consequence of the evolutionary development of the capitalist mode of production, as it spreads through the world, conquers all the sectors of production and commerce, reaches its peak of expansion, and then enters into its declining phase. This was explained by Marx in Capital, Vol. III. There are extensive passages in Marx's notebook, Grundisse, which demonstrate his reasoning in support of the necessary character of the tendency of the rate of profit to fall. Yet many academicians and writers who take Marx's works as their primary field of study do not agree....

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