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The Weisskopfian approach has dominated empirical studies of the US rate of profit for the last thirty-five years. Forty-five years earlier, Michal Kalecki developed a different frame suitable for empirical profit rate studies, which had the potential to give different, but complementary, insight into the profit rate analysis based on the Weisskopfian approach. This paper first presents a development of the Kaleckian frame. It then applies this frame to the US economy and presents some preliminary empirical results. [ABSTRACT FROM AUTHOR]

This is a short note on the limits of Varieties of Capitalism and the potential of the Keynes-Kalecki approach proposed by Baccaro and Pontusson for overcoming them. It identifies the main problem as a failure to define capitalism itself. This effectively reduces the approach to a comparison of the U.S. and German economies at the end of the 20th century. It is in particular unable to recognize let alone explain the very different U.S. economic system in the immediate postwar decades or how the more recent emphasis on the market emerged to take its place. The promise of the Keynes-Kalecki approach is that it will overcome these limits, but the promise has not yet been realized. [ABSTRACT FROM AUTHOR]