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Dominant Capital is Much More Powerful Than You Think

Author

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  • Bichler, Shimshon
  • Nitzan, Jonathan

Abstract

How should we measure the power of dominant capital? Economists, although seldom if ever referring to ‘dominant capital’, quantify the relative size of large firms by measuring their so-called aggregate concentration. But for all their insight, measures of aggregate concentration have one serious shortcoming: they tend to underestimate the power of dominant capital and its temporal growth – by a lot.

Suggested Citation

  • Bichler, Shimshon & Nitzan, Jonathan, 2021. "Dominant Capital is Much More Powerful Than You Think," EconStor Preprints 229151, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:229151
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    More about this item

    Keywords

    capital as power; corporate concentration; differential accumulation; dominant capital;
    All these keywords.

    JEL classification:

    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • G3 - Financial Economics - - Corporate Finance and Governance

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