Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/157868
Authors: 
Fix, Blair
Year of Publication: 
2014
Series/Report no.: 
Working Papers on Capital as Power 2014/05
Abstract: 
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 power-centered 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.
Subjects: 
distribution
hierarchy
energy
growth
neoclassical
economics
power
URL of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc-nd/4.0/
Document Type: 
Working Paper

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