Power and Profits: The Social Structure of Accumulation and the Profitability of the Postwar U.S. Economy

Samuel Bowles, David M. Gordon and Thomas E. Weisskopf
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Samuel Bowles: Economics Department, University of Massachusetts at Amherst, Amherst, MA 01003
David M. Gordon: Department of Economics, New School for Social Research, New York, NY. 10011
Thomas E. Weisskopf: Department of Economics, University of Michigan, Ann Arbor, MI 48109.

Review of Radical Political Economics, 1986, vol. 18, issue 1-2, 132-167

Abstract: This paper seeks to explain trends in United States corporate profitability since World War II through an analysis of the rise and subsequent demise of a postwar social structure of accumulation (SSA). Building from a formal model of the determinants of profitability, we provide econometric support for the hypothesis that variations in profitability can be explained to a large extent by variations in quantitative indicators of capitalist power in the postwar SSA.

Date: 1986
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