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Primitive accumulation, growth and the genesis of social classes

  • Jacques, Jean-François
  • Rebeyrol, Antoine

The aim of this paper is to show that inequalities of wealth can be necessary conditions to explain the apparition and rise of a capitalistic system. We try to highlight Marx's insights on primitive accumulation. Our dynamic framework is consistent with Roemer's idea of endogenous class stratification. We extend this calculation by incorporating some features of the Pasinetti–Samuelson–Modigliani model, and provide an example of possible microfoundations.

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File URL: http://basepub.dauphine.fr/xmlui/bitstream/123456789/1799/2/WP_EcoX_2007-10.pdf
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Paper provided by Paris Dauphine University in its series Economics Papers from University Paris Dauphine with number 123456789/1799.

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Date of creation: 2010
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Publication status: Published in Metroeconomica, 2010, Vol. 61, no. 3. pp. 540-557.Length: 17 pages
Handle: RePEc:dau:papers:123456789/1799
Contact details of provider: Web page: http://www.dauphine.fr/en/welcome.html

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  1. Stiglitz, Joseph E, 1969. "Distribution of Income and Wealth among Individuals," Econometrica, Econometric Society, vol. 37(3), pages 382-97, July.
  2. Piketty, Thomas, 1997. "The Dynamics of the Wealth Distribution and the Interest Rate with Credit Rationing," Review of Economic Studies, Wiley Blackwell, vol. 64(2), pages 173-89, April.
  3. Oded Galor & Joseph Zeira, 2013. "Income Distribution and Macroeconomics," Working Papers 2013-12, Brown University, Department of Economics.
  4. Roemer, John E, 1982. "Origins of Exploitation and Class: Value Theory of Pre-Capitalist Economy," Econometrica, Econometric Society, vol. 50(1), pages 163-92, January.
  5. Bourguignon, Francois, 1981. "Pareto Superiority of Unegalitarian Equilibria in Stiglitz' Model of Wealth Distribution with Convex Saving Function," Econometrica, Econometric Society, vol. 49(6), pages 1469-75, November.
  6. Moav, Omer, 2002. "Income distribution and macroeconomics: the persistence of inequality in a convex technology framework," Economics Letters, Elsevier, vol. 75(2), pages 187-192, April.
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