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New imperialism or new capitalism?

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Author Info
Nitzan, Jonathan
Bichler, Shimshon

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Abstract

Over the past century, the institution of capital and the process of its accumulation have been fundamentally transformed. By contrast, the theories that explain this institution and process have remained largely unchanged. The purpose of this paper is to address this mismatch. Using a broad brush, we outline a new, power theory of capital and accumulation. We use this theory to assess the changing meaning of the corporation and the capitalist state, the new ways in which capital gets accumulated and the specific historical trajectory of twentieth-century capitalism up to the present.

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File URL: http://mpra.ub.uni-muenchen.de/5578/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 5578.

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Date of creation: 2006
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Publication status: Published in Review 1.XXIX(2006): pp. 1-86
Handle: RePEc:pra:mprapa:5578

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Related research
Keywords: arms accumulation capital flow capitalism conflict corporation crisis distribution elite energy finance globalization growth imperialism GPE liberalism Marxism Middle East military national interest neoclassical economics neoliberalism nomos oil OPEC ownership peace power profit ruling class security stagflation state stock market TNC United States US utility value violence war

Find related papers by JEL classification:
G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
P1 - Economic Systems - - Capitalist Systems
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
F5 - International Economics - - International Relations and International Political Economy
F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
F54 - International Economics - - International Relations and International Political Economy - - - Colonialism; Imperialism; Postcolonialism
D21 - Microeconomics - - Production and Organizations - - - Firm Behavior

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  1. Harcourt, G C, 1969. "Some Cambridge Controversies in the Theory of Capital," Journal of Economic Literature, American Economic Association, vol. 7(2), pages 369-405, June. [Downloadable!] (restricted)
  2. Steedman, Ian, 1975. "Positive Profits with Negative Surplus Value," Economic Journal, Royal Economic Society, vol. 85(337), pages 114-23, March. [Downloadable!] (restricted)
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