EconPapers    
Economics at your fingertips  
 

Putting Power Back Into Growth Theory

Blair Fix

Review of Capital as Power, 2015, vol. 1, issue 2, 1-37

Abstract: Neoclassical growth theory assumes that economic growth is an atomistic process in which changes in distribution play no role. Unfortunately, when this assumption is tested against real-world evidence, it is systematically violated. This paper argues that a reality-based growth theory must reject neoclassical principles in favour of a powercentered approach. Building on Nitzan and Bichler’s Capital as Power hypothesis, I argue that hierarchy formation is an integral part of the growth process. I hypothesize that the role of capital accumulation (through profit) is to facilitate hierarchy formation by legitimizing the authority of capitalists.

Keywords: economic growth theory; distribution; power; hierarchy; energy (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (5) Track citations by RSS feed

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/157914/1/b ... to_growth_theory.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:caprev:157914

Access Statistics for this article

More articles in Review of Capital as Power from Capital As Power - Toward a New Cosmology of Capitalism
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().

 
Page updated 2018-11-24
Handle: RePEc:zbw:caprev:157914