COMPARE
AND CONTRAST THE VIEWS OF JEVON, MARX, AND J.S. MILL ON THE POSSIBLE REASONS
FOR A FALLING RATE OF PROFIT (OR, IN THE CASE OF JEVONS, A FALLING RATE OF
INTEREST)
               Karl Marx., John Stuart Mills
and William Stanley Jevons all wrote on their views
of political economy in the late 19th century. Their writings had
profound influence of the thinking at the time and even influenced the
development of political systems. ‘Das Kapital’, by
Karl Marx was the blueprint for the socialist form of government. The three men
spoke out on the question of the dynamics of profit (or in the case of Jevons, interest) and the end result. The premise that the
rate of profit/interest will continue to rise unabated is challenged by them
for different reasons. They argue that the rate of profit declines and tends
towards zero in most cases. This phenomenon in Marx’s opinion would lead to the
collapse of the capitalist system of economy.
