By Malcolm C. Sawyer (auth.)
Read Online or Download The Economics of Michał Kalecki PDF
Similar economic policy books
The Strange Non-death of Neo-liberalism
Winner of the Friedrich Ebert Stiftung prize
The monetary predicament appeared to current a primary problem to neo-liberalism, the physique of principles that experience constituted the political orthodoxy of such a lot complicated economies in contemporary a long time. Colin Crouch argues during this ebook that it'll shrug off this problem. the reason being that whereas neo-liberalism appears to be like approximately loose markets, in perform it's excited about the dominance over public lifetime of the large company. This has been intensified, now not checked, by way of the new monetary predicament and recognition that sure monetary organisations are ‘too tremendous to fail'. even though a lot political debate is still preoccupied with conflicts among the industry and the country, the effect of the company on either those is this day way more important.
Several elements have introduced us to this situation:
• most glaringly, the lobbying strength of businesses whose donations are of turning out to be value to cash-hungry politicians and parties;
• The weakening of aggressive forces through businesses sufficiently big to form and dominate their markets;
• the ability over public coverage exercised through agencies having fun with distinctive relationships with executive as they agreement to convey public services;
• the ethical initiative that's grasped by way of firms that devise their very own agendas of company social responsibility.
Both democratic politics and the loose marketplace are weakened by way of those methods, yet they're mostly inevitable and never regularly malign. wish for the long run, for that reason, can't lie in suppressing them as a way to reach both an economic system of natural markets or a socialist society. really it lies in dragging the large company absolutely into political controversy. the following a key function is performed via the small, cash-strapped campaigning teams who, with necessary little aid from confirmed events, search to accomplish company social accountability.
Global Institutions and Development: Framing the World?
This e-book examines the ideas that experience powerfully motivated improvement coverage and extra generally seems to be on the position of rules in foreign improvement associations and the way they've got affected present improvement discourse. The authors study why a few principles are taken up by way of those associations, how the guidelines commute in the platforms and the way they're translated into coverage, changed, distorted or resisted.
On Studying Organizational Cultures: Diagnosis and Understanding
Ebook through Schultz, Majken
- The Age of Diminished Expectations, Third Edition: U.S. Economic Policy in the 1990s
- Supply Shock: Economic Growth at the Crossroads and the Steady State Solution
- Economic Policy Options for a Prosperous Nigeria First Edition ( Paperback ) by Collier, Paul pulished by Palgrave Macmillan
- Age Shock: How Finance Is Failing Us
Extra info for The Economics of Michał Kalecki
Sample text
G. extent of collusion not directly related to concentration, the elasticity of demand) , these studies have often provided support for the Kaleck ian view. In other words , concentration, advertising intensity and (to a lesser extent) capital intensity have often been shown to influence in cross-sectional studies the price-cost margin . It should also be noted that many of these studies have made the assumption that unit costs are constant with respect to output. This discussion on the testability of the degree of monopoly approach also serves to overthrow the tautology charge.
A third response is that the mark-up is not expected to tend to zero as the degree of monopoly tends to zero. Kalecki argued that there was an influence of overhead costs (including capital costs) on the mark-up (a point to which we return below). But it is a clear prediction of Kalecki's theory that the share of manual labour in value added will decline as the degree of monopoly increases (cf. 6) above), and indeed this is a proposition which has been tested by Cowling and Molho (1982). Kalecki anticipated this line of attack.
Whitman observed that the same degree of monopoly (leading to the same profit-output ratio) would lead to different rates of profit on capital when capital intensity differed between industries. ), where Y* is a measure of capacity-output. e, Y/ Y* = 1), then for the same rate of profit on capital, a more capital-intensive industry requires a higher degree of monopoly. In the absence of that higher degree of monopoly, the firms will not get the equalised rate of profit and in that sense the source of profits is seen as being the possession of monopoly power.