1,720,971 research outputs found
The Long Recession and the Economic Consequences of the Pandemic
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In this article, we argue the rate of profit in combination with the movement of the real net profits determines the phase-change of the economy in its long cyclical pattern. Since WWII, the US and the world economy have experienced two such long cycles. The pandemic COVID-19 has deepened a recession that has been already underway since 2007. The growth rates in the first post-pandemic years are expected to be high; however, soon after, the economies will find themselves back to their old recessionary growth paths. The onset of a new long cycle requires the restoration of profitability, which can be sustained only through the introduction of ‘disruptive’ innovations backed by suitable institutional arrangements
Long recession, secular stagnation, pandemic, long cycles, institutional changes, disruptive innovation
Financialization Historically Contemplated
Get PDFThis article examines the extent to which financialization is a new phase of capital accumulation characterized by its own economic laws in which the real (production) economy adjusts accordingly. In order to examine this hypothesis, we invoke the share of the financial sector in the GDP of the USA, as the best meaningful metric to approximate the expansion of the financialization over time. Our findings suggest that the financialization phenomena of the post-1982 years are comparable to those of the “roaring 1920s”. The observed differences are quantitative, in the main, and although they suggest the presence of regularities; nevertheless, they do not suggest an altogether different stage of a finance-led capitalism
Harrodian Instability: A Marxian Perspective
Get PDFThe analysis of a sustained long-run equilibrium path of economic growth goes back to Marx’s discussion of the schemes of reproduction and capital accumulation. In this paper, we indicate that the Harrodian ‘knife edge’ instability is a feature of the inner nature of the capitalist mode of production that is explained by the evolution of the rate of surplus-value. A fundamental category in Marx’s analysis, which is not restricted to income distribution, but also has further repercussions, which we grapple with in our analysis. In particular, we argue that the unbalanced economic growth path is the macroeconomic manifestation of the consequent antithesis between productive forces and productive relations formed during the process of capital accumulation and confined by the evolution of the rate of surplus-value
Financialization Historically Contemplated: Putting Old Wine in New Barrels
No full textThis article examines the extent to which financialization is a new phase of
capital accumulation characterized by its own economic laws in which the real (production)
economy adjusts accordingly. In order to examine this hypothesis, the authors invoke
the share of the financial sector in the GDP of the US, as the best meaningful metric to
approximate the expansion of the financialization over time. The findings suggest that
the financialization phenomena of the post-1982 years are comparable to those of the
“roaring twenties.” The observed differences are quantitative, in the main, and although
they indicate the presence of regularities, they, nevertheless, do not suggest an altogether
different stage of finance-led capitalism.14332835
Classical competition and regulating capital: theory and empirical evidence
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In this article we discuss the salient features of the classical and neoclassical theories of competition and we test their fundamental propositions using data from Greek manufacturing industries. The cross section data of 3-digit (total 91) industries of the three (pooled together) census years show no evidence of a direct statistical relationship between the degree of concentration and profitability. The econometric analysis of time series data for 2-digit industries lends support to the hypothesis for the long-run tendential equalization of incremental rates of profit to the economy’s average
The Long Recession and Economic Consequences of the COVID-19 Pandemic
Get PDFIn this article, we argue the rate of profit in combination with the movement of the real net profits determines the phase-change of the economy in its long cyclical pattern. Since WWII, the US and the world economy have experienced two such long cycles. The pandemic COVID-19 has deepened a recession that has been already underway since 2007. The growth rates in the first post-pandemic years are expected to be high; however, soon after, the economies will find themselves back to their old recessionary growth paths. The onset of a new long cycle requires the restoration of profitability, which can be sustained only through the introduction of ‘disruptive’ innovations backed by suitable institutional arrangements
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
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