Bureaucrats, Interface administrators, Administrators (Semantic MediaWiki), Curators (Semantic MediaWiki), Editors (Semantic MediaWiki), Administrators, Widget editors
23,415
edits
Differential accumulation: Difference between revisions
From Cibernética Americana
no edit summary
No edit summary |
No edit summary |
||
| Line 1: | Line 1: | ||
'''Differential Accumulation''' is a theory of capital by [[Jonathan Nitzan]] <ref> ''Differential Accumulation: Toward a New Political Economy of Capital'' Johnathan Nitzan ''Review of Internation Political Economy'' Vol 5 No 2 Summer 1998 pp 169-216 </ref>. | '''Differential Accumulation''' is a theory of capital by [[:en:Jonathan Nitzan]] <ref> ''Differential Accumulation: Toward a New Political Economy of Capital'' Johnathan Nitzan ''Review of Internation Political Economy'' Vol 5 No 2 Summer 1998 pp 169-216 </ref>. | ||
{{TOCright}} | {{TOCright}} | ||
== English Lede == | == English Lede == | ||
The concept of differential accumulation emphasizes the powerful drive by dominant capital groups to beat the average and exceed the normal rate of return. This concept is tied to a definition of [[Capital (economics)|capital]] as a social category rather than a material category (as seen by [[Neoclassical economics|neo-classical]] and [[Marxist]] thinkers). "[[Capitalism]] is not an ‘economic system’, but a whole social order, and its principal category of capital must therefore have an ‘encompassing’ definition."<ref>[http://bnarchives.yorku.ca/9/ Differential Accumulation: Toward a New Political Economy of Capital.] Nitzan 1998, p. 175</ref> | The concept of differential accumulation emphasizes the powerful drive by dominant capital groups to beat the average and exceed the normal rate of return. This concept is tied to a definition of [[:en:Capital (economics)|capital]] as a social category rather than a material category (as seen by [[:en:Neoclassical economics|neo-classical]] and [[:en:Marxist]] thinkers). "[[:en:Capitalism]] is not an ‘economic system’, but a whole social order, and its principal category of capital must therefore have an ‘encompassing’ definition."<ref>[http://bnarchives.yorku.ca/9/ Differential Accumulation: Toward a New Political Economy of Capital.] Nitzan 1998, p. 175</ref> | ||
<blockquote>...capitalization is a forward-looking process. What is being accumulated are claims on the future flow of profit. The pace of accumulation therefore depends on two factors: (a) the institutional arrangements affecting profit expectations; and (b) the normal rate of return used to discount them into their present value. The effect of rising industrial capacity on these factors is not only highly complex and possibly non-linear, but its direction can be positive as well as negative. | <blockquote>...capitalization is a forward-looking process. What is being accumulated are claims on the future flow of profit. The pace of accumulation therefore depends on two factors: (a) the institutional arrangements affecting profit expectations; and (b) the normal rate of return used to discount them into their present value. The effect of rising industrial capacity on these factors is not only highly complex and possibly non-linear, but its direction can be positive as well as negative. | ||
