Globalization, the Distribution of Power, and Full Employment

摘要: Power and conflict have virtually no role in mainstream economics, the main reasons being pervasive influence of competitive model difficulty incorporating power quantitatively formal models. However, two important contributions to our understanding impact on economy are Kalecki’s theory political business cycle (1971) Keynes’ analysis how persistent high unemployment affects struggles stability a capitalist system (1936, Chapter 24). In theory, is natural outcome social order that combines capitalism with full democracy, because tensions between demands flowing from universal suffrage distributional rewards generated by market system. Kalecki believed long run, employment democracy were incompatible. To survive, capital had retain minimum amount power, prolonged periods denied them this critical minimum. having upper hand both arena, could alter terms degree labour militancy varying distribution i.e. more or less economic unemployment.