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Autoren: 
Fix, Blair
Datum: 
2014
Schriftenreihe/Nr.: 
Working Papers on Capital as Power No. 2014/05
Zusammenfassung: 
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.
Schlagwörter: 
distribution
hierarchy
energy
growth
neoclassical
economics
power
URL der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
https://creativecommons.org/licenses/by-nc-nd/4.0/
Dokumentart: 
Working Paper

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