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The Profit Rate In Chile: 1900-2010, Diego Polanco

Economics Department Working Paper Series

The interest of this paper is to discuss the main features that characterize the accumulation regimes that have taken place during the twentieth century in Chile. Understanding that a set of institutionalized compromises and political conflicts are inherent to any capitalist society, I rely on the body of literature of Marxist political economy, which focuses on the dynamics of profitability to describe its reproductive patterns. In light of this analysis, I argue that the main institutional transformations in Chilean history are better understood. I characterize long-waves of capitalist accumulation as accumulation regimes and identify three stages: early expansion, late expansion, …