Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/157770
Authors: 
Nitzan, Jonathan
Bichler, Shimshon
Year of Publication: 
2000
Citation: 
[Journal:] Science & Society [Volume:] 64 [Issue:] 3 [Pages:] 274-309
Abstract: 
The paper offers a new theoretical framework for linking inflation and accumulation, with the Israeli experience as a case study. The focal point is the process of differential accumulation by the largest core firms. The theory of differential accumulation suggests that the relative power of these firms can be augmented either through ‘breadth’ (relative employment) or ‘depth’ (relative profit per employee). In the Israeli case, inflation accelerated since the 1970s when the large core firm began shifting their emphasis from breadth to depth. The paper examines the political economic conditions typical to each of these regimes, why these conditions changed in Israel, and how the distributive gains of the core firms pushed the country onto the brink of hyperinflation. It then articulates the inherent limits of a ‘depth’ regime, why Israel reached those limits during the early 1980s, and how this brought the inflation spiral to an end.
Subjects: 
arms
breadth
capital
capitalism
corporation
crisis
DA
depth
distribution
finance
globalization
inflation
institutionalism
Israel
M&A
merger
Middle East
military
money
power
prices
profit
stagflation
state
TNC
URL of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by-nc-nd/4.0/
Document Type: 
Article

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