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Real and Financial Determinants of the Profit Share of Income: The Financial Profit Squeeze

Author

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  • Matthew J. Bezreh
  • Jonathan P. Goldstein

Abstract

This paper conducts a causal analysis of determinants of the profit share of income for nonfinancial corporations in the Neoliberal era. The analysis focuses on power relations across and amongst three classes: labor, industrial capitalists and financial capitalists. Particular attention is paid to the multidimensional power spectrum of financial capitalists. Regression results establish a financial profit squeeze, the specific elements of financial capitalist’s power responsible for the squeeze and the pervasive nature of low road labor strategies in the Neoliberal era.

Suggested Citation

  • Matthew J. Bezreh & Jonathan P. Goldstein, 2013. "Real and Financial Determinants of the Profit Share of Income: The Financial Profit Squeeze," Working Papers wp307, Political Economy Research Institute, University of Massachusetts at Amherst.
    • Handle: RePEc:uma:periwp:wp307
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    File URL: https://per.umass.edu/fileadmin/pdf/working_papers/working_papers_301-350/WP307.pdf
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    Cited by:

    1. Constantinos Alexiou & Joseph G. Nellis, 2016. "Investment Decisions within the Context of Financialization: Cointegration Evidence from the UK Economy," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 63(1), pages 113-133, March.
    2. Ivan Mendieta‐Muñoz & Doğuhan Sündal, 2022. "Business cycles, financial conditions, and nonlinearities," Metroeconomica, Wiley Blackwell, vol. 73(2), pages 343-383, May.

    More about this item

    Keywords

    profit share; financial profit squeeze;

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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