Power, Profits and Inflation: A Study of Inflation and Influence in Pakistan
The analysis seeks to look at inflation as a political economic phenomenon, based on a framework devised by Jonathan Nitzan and christened differential accumulation. The theory of differential accumulation rejects the conventional definitions of capital and draws upon Veblenian economics to integrate the definitions of power and capital by describing the ownership of capital as differential power claims over social processes. In order to maximize capital accumulation, businessmen allocate resources, in response to the socio-political environment, to beat a certain benchmark rate of return in their pursuit of maximizing capital accumulation. [SBP No. 43]. URL:[http://www.sbp.org.pk/publications/wpapers/2011/wp43.pdf].
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Veblen, Thorstein, 1904. "Theory of Business Enterprise," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1904.
- Khan, Safdar Ullah & Saqib, Omar Farooq, 2011.
"Political instability and inflation in Pakistan,"
Journal of Asian Economics,
Elsevier, vol. 22(6), pages 540-549.
- R. Mehra & E. Prescott, 2010.
"The equity premium: a puzzle,"
Levine's Working Paper Archive
1401, David K. Levine.
- International Monetary Fund, 2005.
"Three Attempts at Inflation Forecasting in Pakistan,"
IMF Working Papers
05/105, International Monetary Fund.
- Madhavi Bokil & Axel Schimmelpfennig, 2006. "Three Attempts at Inflation Forecasting in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 45(3), pages 341-368.
- Benartzi, Shlomo & Thaler, Richard H, 1995.
"Myopic Loss Aversion and the Equity Premium Puzzle,"
The Quarterly Journal of Economics,
MIT Press, vol. 110(1), pages 73-92, February.
- Shlomo Benartzi & Richard H. Thaler, 1993. "Myopic Loss Aversion and the Equity Premium Puzzle," NBER Working Papers 4369, National Bureau of Economic Research, Inc.
- Kahneman, Daniel & Tversky, Amos, 1979.
"Prospect Theory: An Analysis of Decision under Risk,"
Econometric Society, vol. 47(2), pages 263-91, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
When requesting a correction, please mention this item's handle: RePEc:ess:wpaper:id:4693. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Padma Prakash)
If references are entirely missing, you can add them using this form.