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Joan Robinson - If knowledge develops as capital...

If knowledge develops as capital accumulates, there need be no tendency to diminishing returns, and with constant returns there can be no tendency for the rate of profit to fall (always assuming that the problem of effective demand as ruled out). (Joan Robinson)

If knowledge develops as capital accumulates, there need be no tendency to diminishing returns, and with constant returns there can be no tendency for the rate of profit to fall (always assuming that the problem of effective demand as ruled out).

Joan Robinson

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assuming capital constant demand diminishing effective fall knowledge need problem profit rate tendency returns

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