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3 See R L Meek, "The Falling Rate of Profit", Science and Society, 1960, section II;
Roman Rosdolsky, ^ur neuren Kritik des Marxschen Geset^es der fallenden Prqfitrate^ Kyklos, volIX, 1956.
4 Joan Robinson, op.cit., pp 42-43,
5 The theoretical validity of Robinson's criticism cannot be conclusively disproved by the above findings which are based on the data from a narrow sector of the Indian economy. If the whole or a wider sector of the economy could be covered in the present study, Robinson's criticism might have found some empirical support.
6 Joseph M Gillman, The Falling Rate of Profit, Dennis Dobson, London 1957, ch 6.
7 Report of the Committee on Distribution of Income and Levels of Living, Govermnent of India, Planning Commission, part I, p 86; Ajit Ray, Planning in India, National Publishers, 1965, ch XX; Government of India, Report of the Monopolies Inquire Commission, 1965; Planning Commission, Report of the Industrial Licensing Policy Inquiry Committee, appendices, vol II; Suhas Chattopadhyay, Technological Progress and the Law of Falling Tendency of the Rate of Profit in Classical and Marxian Economics, unpublished Ph D thesis, Calcutta University.
8 Report of the Industrial Licensing Policy Inquiry Committee, Main Report, pp 150-53.
9 For studies on the nature and extent of technological changes in the Indian economy see P S Shanmukham and K V Santhanam, "Technological Changes in the Indian Economy, 1953-64 to 1964-65" presented at the Third Input-Output Seminar, Bombay, September 1970; George Rosen, Industrial Change in India, The Free Press, Glencoe, Illinois, 1961, pp 176-78; Suhas Chattopadhyay, op.cit.
10 George Rosen, op.cit, pp 176-78.
11 Association of Indian Trade and Industry, Financial Trends and Productivity in the Cement Industry, 1966, p 71.
12 Antonio Pesenti, "The Falling Rate of Profit", Science and Society, vol XXXIII, 1959, pp 245-46.
13 John Eaton, Political Economy, A Marxist Text Book, Current Book House, Bombay 1952, p 131. John Strachey, The Nature of Capitalist Crisis, Victor Gollancz Ltd., London 1936, p 239.
ld Karl Marx, "Wages, Price and Profit", Selected Works, vol II, p 61. r) See Maurice Dobb, Capitalism Testerday and Today, PPH, Bombay, 1959, p 45 and Political Economy and Capitalism, Routledge and Kegan Paul, London, 1960, p 110;
R L Meek, "Falling Rate of Profit", Science and Society, vol XXIV, 1960, section III; A A Konus, "On the Tendency for the Rate of Profit to Fall", Socialism, Capitalism and Economic Growth, C H Feinstein (ed.) Cambridge 1967, pp 72-73.
