A bridge over troubled water: A Structural Political Economy of vertical integration

Ivano Cardinale

Structural Change and Economic Dynamics, 2018, vol. 46, issue C, 172-179

Abstract: This article proposes a new interpretation of the logical process of vertical integration, exploring its socio-political dimension. The first step is to show that models of industrial interdependencies (in the Leontief and Sraffa formulations) and vertically integrated models (in the Pasinetti formulation) imply profoundly different views on production, distribution, and socio-political conflicts. The next step is to focus on the process of vertical integration in itself—on its being a ‘bridge’ between such different views. Because analytically equivalent representations of economic structures have such different socio-political implications, economic structures cannot be seen as univocally determining economic interests or conflicts in society. This result opens up a new field for structural analysis: studying how the formation of interests in society is influenced, but not determined, by economic structures. The article suggests a route to address the socio-political dimension of economic structures, which is largely left on the background by structural economic analysis.

Keywords: Structural Political Economy; Structural economic analysis; Economic interests; Vertical integration; Input-output analysis (search for similar items in EconPapers)
JEL-codes: B10 B20 D57 D70 L16 P16 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:46:y:2018:i:c:p:172-179

DOI: 10.1016/j.strueco.2018.05.007

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