The Non-Farm Rate of Profit and the Thai Economic Development: 1970–2010
The article measures the non-farm profit rate in Thailand from 1970 to 2010. The shape of the profit rate suggests that the Thai economy can be differentiated into four phases. The decomposition analysis reveals that the organic composition...
| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
Pluto Journals
2014-06-01
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| Series: | World Review of Political Economy |
| Online Access: | https://www.scienceopen.com/hosted-document?doi=10.13169/worlrevipoliecon.5.2.0172 |
| _version_ | 1797834187581947904 |
|---|---|
| author | Naphon Phumma |
| author_facet | Naphon Phumma |
| author_sort | Naphon Phumma |
| collection | DOAJ |
| description | The article measures the non-farm profit rate in Thailand from 1970 to 2010. The
shape of the profit rate suggests that the Thai economy can be differentiated
into four phases. The decomposition analysis reveals that the organic
composition of capital has greatly contributed to fluctuations of the profit
rate, while the rate of capacity utilization and the capacity—capital
ratio have positive impacts in three out of four phases. Meanwhile, the profit
share and the rate of surplus value have just slight impacts on the profit rate.
Furthermore, the article discusses that the capitalist class has always been a
dominant class who could benefit from economic development, and the profit rate
determines the growth rate of capital stock in Thailand. |
| first_indexed | 2024-04-09T14:35:32Z |
| format | Article |
| id | doaj.art-25959d029a9d43a68bdf2b8c4c08b4a8 |
| institution | Directory Open Access Journal |
| issn | 2042-891X 2042-8928 |
| language | English |
| last_indexed | 2024-04-09T14:35:32Z |
| publishDate | 2014-06-01 |
| publisher | Pluto Journals |
| record_format | Article |
| series | World Review of Political Economy |
| spelling | doaj.art-25959d029a9d43a68bdf2b8c4c08b4a82023-05-03T13:37:09ZengPluto JournalsWorld Review of Political Economy2042-891X2042-89282014-06-015217220310.13169/worlrevipoliecon.5.2.0172The Non-Farm Rate of Profit and the Thai Economic Development: 1970–2010Naphon PhummaThe article measures the non-farm profit rate in Thailand from 1970 to 2010. The shape of the profit rate suggests that the Thai economy can be differentiated into four phases. The decomposition analysis reveals that the organic composition of capital has greatly contributed to fluctuations of the profit rate, while the rate of capacity utilization and the capacity—capital ratio have positive impacts in three out of four phases. Meanwhile, the profit share and the rate of surplus value have just slight impacts on the profit rate. Furthermore, the article discusses that the capitalist class has always been a dominant class who could benefit from economic development, and the profit rate determines the growth rate of capital stock in Thailand.https://www.scienceopen.com/hosted-document?doi=10.13169/worlrevipoliecon.5.2.0172 |
| spellingShingle | Naphon Phumma The Non-Farm Rate of Profit and the Thai Economic Development: 1970–2010 World Review of Political Economy |
| title | The Non-Farm Rate of Profit and the Thai Economic Development:
1970–2010 |
| title_full | The Non-Farm Rate of Profit and the Thai Economic Development:
1970–2010 |
| title_fullStr | The Non-Farm Rate of Profit and the Thai Economic Development:
1970–2010 |
| title_full_unstemmed | The Non-Farm Rate of Profit and the Thai Economic Development:
1970–2010 |
| title_short | The Non-Farm Rate of Profit and the Thai Economic Development:
1970–2010 |
| title_sort | non farm rate of profit and the thai economic development 1970 2010 |
| url | https://www.scienceopen.com/hosted-document?doi=10.13169/worlrevipoliecon.5.2.0172 |
| work_keys_str_mv | AT naphonphumma thenonfarmrateofprofitandthethaieconomicdevelopment19702010 AT naphonphumma nonfarmrateofprofitandthethaieconomicdevelopment19702010 |