Artikel
Putting Power Back Into Growth Theory
Neoclassical growth theory assumes that economic growth is an atomistic process in which changes in distribution play no role. Unfortunately, when this assumption is tested against real-world evidence, it is systematically violated. This paper argues that a reality-based growth theory must reject neoclassical principles in favour of a powercentered approach. Building on Nitzan and Bichler’s Capital as Power hypothesis, I argue that hierarchy formation is an integral part of the growth process. I hypothesize that the role of capital accumulation (through profit) is to facilitate hierarchy formation by legitimizing the authority of capitalists.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Review of Capital as Power ; Volume: 1 ; Year: 2015 ; Issue: 2 ; Pages: 1-37 ; s.l.: Forum on Capital As Power - Toward a New Cosmology of Capitalism
- Klassifikation
-
Wirtschaft
- Thema
-
economic growth theory
distribution
power
hierarchy
energy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Fix, Blair
- Ereignis
-
Veröffentlichung
- (wer)
-
Forum on Capital As Power - Toward a New Cosmology of Capitalism
- (wo)
-
s.l.
- (wann)
-
2015
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Fix, Blair
- Forum on Capital As Power - Toward a New Cosmology of Capitalism
Entstanden
- 2015
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