The paper criticizes the conception of value on behalf of the conventional economic theory, blaming it for the current economic school’s incapacity to explain the actual economic crisis and to offer an adequate perspective to settle a solution. It proposes an explanation based on the tendency to concentration and centralization of capital’s accumulation and its effects on income distribution, which conforms inadequate and unbalanced structures of production and distribution, withdrawn from the appropri-ate and thorough use of scarce common resources. In the middle, long term, these structures determine ruptures in the process of accumulation of capital triggering crisis like the actual. The theory of regulation is used in this paper, in order to explain the growth of concentration and centralization of capital and of social gap during the last years, which is understood as the result of the crisis of Fordist regime of accumu-lation and of the surge of a new transnational regime.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
15048.
Find related papers by JEL classification: P0 - Economic Systems - - General D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement D33 - Microeconomics - - Distribution - - - Factor Income Distribution O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
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