Capital Mobility and the Threat to American Prosperity

.

Chapter 11 in Neoliberalism and the Road to Inequality and Stagnation, 2021, pp 179-185 from Edward Elgar Publishing

Abstract: This chapter anticipated and explained how deepened global capital mobility, promoted by both technological developments and neoliberal globalization policy, would transform the political economic landscape by changing the distribution of bargaining power between capital and labor. In turn, that promised to change the distribution income and exacerbate long run deflationary tendencies inherent in the neoliberal model. It argued mainstream economics misunderstands the significance of transaction costs and market frictions, which are characterized as unambiguously bad and deserving of elimination. In a bargaining power world such costs and frictions serve to equalize bargaining power, giving them a valuable function in ensuring shared prosperity. That calls for policy to recognize distinctions between frictions, and actually promote frictions which contribute to socially desired economic outcomes.

Keywords: Business and Management; Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.elgaronline.com/view/9781802200072.00020.xml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

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:elg:eechap:20890_11

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().