The Dynamics of Competition

Ewa Karwowski

Chapter 6 in Economic Crisis and Political Economy, 2014, pp 88-105 from Palgrave Macmillan

Abstract: Abstract This chapter links Michal Kalecki’s and Josef Steindl’s analysis of dynamics of competition (Kalecki, 1932, 1933b, 1935, 1939; Steindl, 1945a, 1952) to the concept of overcapitalisation and the theory of capital market inflation (Toporowski, 1993, 2000). In this way it extends the Kalecki-Steindl argument that the maldistribution of profits, meaning the concentration of profits in industries with market power, be it cartels or oligopolies, introduces economic instability into the financial realm, where that maldistribution leads to financial fragility.

Keywords: Business Cycle; Profit Margin; Liquid Asset; Total Liability; Price Power (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:pal:pshchp:978-1-137-33575-3_7

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137335753

DOI: 10.1057/9781137335753_7

Access Statistics for this chapter

More chapters in Palgrave Studies in the History of Economic Thought from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().