Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/227883
Authors: 
Polanco, Diego
Year of Publication: 
2019
Series/Report no.: 
Working Paper No. 2019-17
Abstract: 
The interest of this paper is to discuss the main features that characterize the accumulation regimes that have taken place during the twentieth century in Chile. Understanding that a set of institutionalized compromises and political con icts are inherent to any capitalist society, I rely on the body of literature of Marxist political economy, which focuses on the dynamics of profitability to describe its reproductive patterns. In light of this analysis, I argue that the main institutional transformations in Chilean history are better understood. I characterize long-waves of capitalist accumulation as accumulation regimes and identify three stages: early expansion, late expansion, and crisis. Using decomposition analysis, I identify recurrent patterns in each phase and also argue that the distributional con ict is historically contingent. Moreover, I implement a novel method proposed by Shaikh (2016) to identify the utilization rate, which allows me to discuss issues of aggregate demand in the decomposition analysis more accurately. Furthermore, I also discuss the relation of the process of urbanization with technical change relying on the Okishio-Marx debate. Finally, I argue that unlike previous accumulation regimes, the neoliberal period relies on reproductive patterns of profitability that makes it highly stable.
Subjects: 
Profit Rate
Accumulation Regimes
Economic Growth
JEL: 
B51
B52
E11
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.