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Power and Profits: The Social Structure of Accumulation and the Profitability of the Postwar U.S. Economy

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  • Samuel Bowles

    (Economics Department, University of Massachusetts at Amherst, Amherst, MA 01003)

  • David M. Gordon

    (Department of Economics, New School for Social Research, New York, NY. 10011)

  • Thomas E. Weisskopf

    (Department of Economics, University of Michigan, Ann Arbor, MI 48109.)

Abstract

This paper seeks to explain trends in United States corporate profitability since World War II through an analysis of the rise and subsequent demise of a postwar social structure of accumulation (SSA). Building from a formal model of the determinants of profitability, we provide econometric support for the hypothesis that variations in profitability can be explained to a large extent by variations in quantitative indicators of capitalist power in the postwar SSA.

Suggested Citation

  • Samuel Bowles & David M. Gordon & Thomas E. Weisskopf, 1986. "Power and Profits: The Social Structure of Accumulation and the Profitability of the Postwar U.S. Economy," Review of Radical Political Economics, Union for Radical Political Economics, vol. 18(1-2), pages 132-167, March.
    • Handle: RePEc:sae:reorpe:v:18:y:1986:i:1-2:p:132-167
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    Cited by:

    1. Engelbert Stockhammer & Paul Ramskogler, 2009. "Wie weiter? Zur Zukunft des Postkeynesianismus," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 35(3), pages 329-353.
    2. Damásio, Bruno & Louçã, Francisco & Nicolau, João, 2018. "The changing economic regimes and expected time to recover of the peripheral countries under the euro: A nonparametric approach," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 507(C), pages 524-533.
    3. Di Bucchianico, Stefano, 2019. "The Impact of Financialization on the Rate of Profit: A Discussion," Centro Sraffa Working Papers CSWP36, Centro di Ricerche e Documentazione "Piero Sraffa".

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