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- W2142301952 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." @default.
- W2142301952 created "2016-06-24" @default.
- W2142301952 creator A5025921795 @default.
- W2142301952 date "2015-01-01" @default.
- W2142301952 modified "2023-09-27" @default.
- W2142301952 title "Putting Power Back Into Growth Theory" @default.
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