Centralization of capital and economic conditions for peace

Emiliano Brancaccio, Raffaele Giammetti () and Stefano Lucarelli

Review of Keynesian Economics, 2024, vol. 12, issue 4, 365-384

Abstract: This paper explores the implications of global capital centralization, defined as increasing ownership of the global capital stock by the dominant economic power. The paper explores a capitalist ‘reproduction’ scheme detailing a ‘zero steady state’ of capital centralization. The scheme examines the links between trade imbalances, capital centralization, and ‘imperialism’ and analyzes how these affect the stability of international relations. The study examines steady state properties as potential ‘economic conditions’ that influence the deterioration or pacification of international political relations.

Keywords: Centralization of capital; International relations; Imperialism; War; Peace (search for similar items in EconPapers)
JEL-codes: A12 D74 F02 F21 F51 (search for similar items in EconPapers)
Date: 2024
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