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Study on the theoretical framework of monopoly capital school and its comparison with Minsky theory

Author

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  • Gendi WEN

    (School of Economics, Central University of Finance and Economics, China. :contentReference[oaicite:0]{index=0})

Abstract

Global financial crisis which broke out in 2008 triggered the great recession of the global economy, making the non-mainstream Monopoly Capital School of economics rise to fame. The mainstream economics attributed the crisis to the different external shocks and policy errors. On the contrary, Monopoly Capital School focused on the process of capital accumulation under the stage of monopoly capitalism, and offered perspective on inherent instability defects of capitalism. Based on teasing out the theoretical framework of Monopoly Capital School, this paper analyzed the standpoints, views and methods of monopoly capitalism through comparing the theory with Minsky theory, not only contributing to the understanding the instability defects of capitalism, but also contributing to the thinking of the future direction of capitalism.

Suggested Citation

  • Gendi WEN, 2018. "Study on the theoretical framework of monopoly capital school and its comparison with Minsky theory," Journal of Economics and Political Economy, EconSciences Journals, vol. 5(2), pages 250-265, July.
    • Handle: RePEc:cvv:journ1:v:5:y:2018:i:2:p:250-265
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    Keywords

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    JEL classification:

    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies

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