[PEN-L:4870] Re: profit-rate equalization

[Paul Bowles <paul@xxxxxxxx>]

Gerry Epstein has a good paper looking at US transnationals in the
post-war period and finds that, although FDI flows have increased
considerably, there has been no tendency for profit rates to be equalised
across countries or for the variance of profit rates to be reduced over
time.

The reference is:
Epstein, "International Profit Rate Equalization and Investment" in
Epstein and Gintis, (eds), Macroeconomics after the Conservative Era,
C.U.P. 1994

Paul Bowles