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Testing Marx

Author

Listed:
  • Charlotte Bartels

    (DIW Berlin)

  • Felix Kersting

    (HU Berlin)

  • Nikolaus Wolf

    (HU Berlin)

Abstract

We study the dynamics of capital accumulation, income inequality, capital concentration, and voting up to 1914. Based on new panel data for Prussian regions, we re-evaluate the famous Revisionism Debate between orthodox Marxists and their critics. We show that changes in capital accumulation led to a rise in the capital share and income inequality, as predicted by orthodox Marxists. But against their predictions, this did neither lead to further capital concentration nor to more votes for the socialists. Instead, trade unions and strike activity limited income inequality and fostered political support for socialism, as argued by the Revisionists.

Suggested Citation

  • Charlotte Bartels & Felix Kersting & Nikolaus Wolf, 2023. "Testing Marx," Rationality and Competition Discussion Paper Series 374, CRC TRR 190 Rationality and Competition.
    • Handle: RePEc:rco:dpaper:374
    as

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    References listed on IDEAS

    as
    1. Cinnirella, Francesco & Hornung, Erik, 2016. "Landownership concentration and the expansion of education," Journal of Development Economics, Elsevier, vol. 121(C), pages 135-152.
    2. Guido Alfani, 2021. "Economic Inequality in Preindustrial Times: Europe and Beyond," Journal of Economic Literature, American Economic Association, vol. 59(1), pages 3-44, March.
    3. Oliver Grant, 2002. "Does Industrialisation Push up Inequality? New Evidence on the Kuznets Curve from Nineteenth-Century Prussian Tax Statistics," Economics Series Working Papers 2002-W48, University of Oxford, Department of Economics.
    4. Oliver Grant, 2002. "Does Industrialisation Push up Inequality? New Evidence on the Kuznets Curve from Nineteenth-Century Prussian Tax Statistics," Oxford Economic and Social History Working Papers _048, University of Oxford, Department of Economics.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    income inequality; concentration; top incomes; capital share; capital accumulation;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • N30 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - General, International, or Comparative

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