Download PDF by Michel Aglietta: A Theory of Capitalist Regulation: The US Experience

By Michel Aglietta

ISBN-10: 1784782394

ISBN-13: 9781784782399

Michel Aglietta’s path-breaking booklet is the 1st try at a rigorous historic conception of the complete improvement people capitalism, from the Civil battle to the Carter presidency. an enormous record of the “Regulation School” of heterodox economics, it was once obtained because the boldest e-book in its box because the vintage reviews of Paul Baran, Paul Sweezy and Harry Braverman.

This edition features a large postface by way of Aglietta, which situates legislation conception within the context of twenty-first-century capitalism.

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Additional resources for A Theory of Capitalist Regulation: The US Experience (Radical Thinkers)

Example text

There is now reasonably respectable formal statistical support, from research in probate court records, for the proposition that inheritance is a major factor in the perpetuation of capital wealth inequality. 2). 36. It is not extravagant to say, on the basis of this evidence, that possibly as much as 60 percent of capital wealth at a person's death is statistically directly attributable to inheritances received. But what of the remaining 40 percent? May this be attributed to 38 GENERAL EQUILIBRIUM EVALUATION the personal merit and social contributions of the capital owners?

Thus this feature of the model is fully realistic given certain undeniable empirical realities. 23 Now that the basjc building blocks which are common to both capitalist and pragmatic market socialist variants of the general equilibrium model have been introduced, namely the production function and the household utility function, it will hereafter be more convenient to deal with the two variants sequentially. Therefore we will complete the description of the capitalist variant, and then proceed on to the pragmatic market socialist variant.

It is certainly within the realm of possibility that the interest elasticity of private saving is indeed positive and numerically appreciable. If this turned out to be the case, social saving out of tax revenue would have to be undertaken to replace the private saving lost because of the abolition of interest payments on private savings. While the government would endeavor (implicitly rather than explicitly) to match up the marginal disutility to the representative taxpayer of paying taxes earmarked for business capital investment to the marginal productivity of capital investment to the representative business enterprise, it would doubtlessly be true that the marginal disutility of paying these taxes to each and every taxpayer would not be equal to the marginal productivity of capital investment to each and every business enterprise.

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A Theory of Capitalist Regulation: The US Experience (Radical Thinkers) by Michel Aglietta

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