IDEAS home Printed from https://ideas.repec.org/a/taf/irapec/v29y2015i4p533-552.html
   My bibliography  Save this article

Monopoly capital and capitalist inefficiency

Author

Listed:
  • Thomas E. Lambert
  • Edward Kwon

Abstract

This paper examines the arguments and assertions of Baran's and Sweezy's Monopoly Capital: An Essay on the American Economic and Social Order (1966) by assessing the degree of economic efficiency or inefficiency in how surplus value and economic surplus were created by 16 major capitalist economies during the 2000s using data envelopment analysis (DEA). After assigning a score to the degree of economic efficiency/inefficiency for each country, one can then assess which factors influence the degree of efficiency/inefficiency. This paper finds empirical support for many of the arguments put forth by the authors, Baran and Sweezy, as well as others regarding the inefficiency of the use of some forms of economic activity to help absorb economic surplus and to create surplus value.

Suggested Citation

  • Thomas E. Lambert & Edward Kwon, 2015. "Monopoly capital and capitalist inefficiency," International Review of Applied Economics, Taylor & Francis Journals, vol. 29(4), pages 533-552, July.
    • Handle: RePEc:taf:irapec:v:29:y:2015:i:4:p:533-552
    DOI: 10.1080/02692171.2015.1016409
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/02692171.2015.1016409
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/02692171.2015.1016409?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Knox Lovell, C. A. & Pastor, Jesus T. & Turner, Judi A., 1995. "Measuring macroeconomic performance in the OECD: A comparison of European and non-European countries," European Journal of Operational Research, Elsevier, vol. 87(3), pages 507-518, December.
    2. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
    3. Golany, Boaz & Thore, Sten, 1997. "The Economic and Social Performance of Nations: Efficiency and Returns to Scale," Socio-Economic Planning Sciences, Elsevier, vol. 31(3), pages 191-204, September.
    4. Frederic Pryor, 2001. "New Trends in U.S. Industrial Concentration," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 18(3), pages 301-326, May.
    5. Joaquin Maudos & Jose Manuel Pastor & Lorenzo Serrano, 2000. "Convergence in OECD countries: technical change, efficiency and productivity," Applied Economics, Taylor & Francis Journals, vol. 32(6), pages 757-765.
    6. Joan Robinson, 1969. "The Economics of Imperfect Competition," Palgrave Macmillan Books, Palgrave Macmillan, edition 0, number 978-1-349-15320-6, March.
    7. Wolff,Edward N., 1987. "Growth, Accumulation, and Unproductive Activity," Cambridge Books, Cambridge University Press, number 9780521251518, September.
    8. McDonald, John, 2009. "Using least squares and tobit in second stage DEA efficiency analyses," European Journal of Operational Research, Elsevier, vol. 197(2), pages 792-798, September.
    9. Mohun, Simon, 1994. "A Re(in)statement of the Labour Theory of Value," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 18(4), pages 391-412, August.
    10. Leibenstein, Harvey & Maital, Shlomo, 1992. "Empirical Estimation and Partitioning of X-Inefficiency: A Data-Envelopment Approach," American Economic Review, American Economic Association, vol. 82(2), pages 428-433, May.
    11. William W. Cooper & Lawrence M. Seiford & Kaoru Tone, 2006. "Introduction to Data Envelopment Analysis and Its Uses," Springer Books, Springer, number 978-0-387-29122-2, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Thomas E. Lambert, 2020. "Monopoly capital and innovation: an exploratory assessment of R&D effectiveness," International Review of Applied Economics, Taylor & Francis Journals, vol. 34(1), pages 36-49, January.
    2. Thomas E. LAMBERT, 2016. "Monopoly Capital and Capitalist Inequality: Marx after Piketty," Journal of Economics and Political Economy, KSP Journals, vol. 3(1), pages 151-159, March.
    3. Lambert, Thomas, 2021. "The Baran Ratio, Investment, and British Economic Growth and Investment," MPRA Paper 109546, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alexander Cotte Poveda, 2012. "Estimating Effectiveness of the Control of Violence and Socioeconomic Development in Colombia: An Application of Dynamic Data Envelopment Analysis and Data Panel Approach," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 105(3), pages 343-366, February.
    2. Vassilios Babalos & Michael Doumpos & Nikolaos Philippas & Constantin Zopounidis, 2015. "Towards a Holistic Approach for Mutual Fund Performance Appraisal," Computational Economics, Springer;Society for Computational Economics, vol. 46(1), pages 35-53, June.
    3. Vincenzo Patrizii & Anna Pettini & Giuliano Resce, 2017. "The Cost of Well-Being," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 133(3), pages 985-1010, September.
    4. Fadzlan Sufian & Muzafar Shah Habibullah, 2012. "Developments in the efficiency of the Malaysian banking sector: the impacts of financial disruptions and exchange rate regimes," Progress in Development Studies, , vol. 12(1), pages 19-46, January.
    5. Min, Hokey & Lambert, Thomas, 2013. "An Exploratory Evaluation of State Road Provision to Commuters and Shippers using Data Envelopment Analysis and Tobit Regression," MPRA Paper 47196, University Library of Munich, Germany.
    6. Christina Bampatsou & George Hadjiconstantinou, 2009. "The use of the DEA method for simultaneous analysis of the interrelationships among economic growth, environmental pollution and energy consumption," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 2(2), pages 65-86, December.
    7. Ikram, Majid & Rafique, Muhammad Zahid & Mohammed, Kamel Si & Waheed, Rida & Ferraz, Diogo, 2023. "Efficient resource utilization of the electricity distribution sector using nonparametric data envelopment analysis and influential factors," Utilities Policy, Elsevier, vol. 82(C).
    8. W. Cooper & L. Seiford & K. Tone & J. Zhu, 2007. "Some models and measures for evaluating performances with DEA: past accomplishments and future prospects," Journal of Productivity Analysis, Springer, vol. 28(3), pages 151-163, December.
    9. Victor Moutinho & Mara Madaleno, 2021. "A Two-Stage DEA Model to Evaluate the Technical Eco-Efficiency Indicator in the EU Countries," IJERPH, MDPI, vol. 18(6), pages 1-21, March.
    10. Mai, Nhat Chi, 2015. "Efficiency of the banking system in Vietnam under financial liberalization," OSF Preprints qsf6d, Center for Open Science.
    11. Fadzlan Sufian, 2016. "Determinants of Efficiency in the Malaysian Banking Sector: Evidence from Semi-parametric Data Envelopment Analysis Method," Studies in Microeconomics, , vol. 4(2), pages 151-172, December.
    12. Bampatsou, Christina & Papadopoulos, Savas & Zervas, Efthimios, 2013. "Technical efficiency of economic systems of EU-15 countries based on energy consumption," Energy Policy, Elsevier, vol. 55(C), pages 426-434.
    13. Marinko Škare & Danijela Rabar, 2016. "Measuring Economic Growth Using Data Envelopment Analysis," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 18(42), pages 386-386, May.
    14. Du, Huibin & Matisoff, Daniel C. & Wang, Yangyang & Liu, Xi, 2016. "Understanding drivers of energy efficiency changes in China," Applied Energy, Elsevier, vol. 184(C), pages 1196-1206.
    15. Sten Thore & Ruzanna Tarverdyan, 2008. "Using Data Envelopment Analysis To Screen The Possibility Of A Fair Globalization," Portuguese Journal of Management Studies, ISEG, Universidade de Lisboa, vol. 0(1), pages 129-151.
    16. Zhou, P. & Ang, B.W. & Poh, K.L., 2007. "A mathematical programming approach to constructing composite indicators," Ecological Economics, Elsevier, vol. 62(2), pages 291-297, April.
    17. Alexander Cotte Poveda, 2011. "Estimating Effectiveness of the Control of Violence and Socioeconomic Development in Colombia: An Application of DEA and Data Panel Approach," Serie de Documentos en Economía y Violencia 8356, Centro de Investigaciones en Violencia, Instituciones y Desarrollo Económico (VIDE).
    18. Corne, Aurélie & Peypoch, Nicolas, 2020. "On the determinants of tourism performance," Annals of Tourism Research, Elsevier, vol. 85(C).
    19. Magdalena Ziolo & Sandra Jednak & Gordana Savić & Dragana Kragulj, 2020. "Link between Energy Efficiency and Sustainable Economic and Financial Development in OECD Countries," Energies, MDPI, vol. 13(22), pages 1-28, November.
    20. Alexander Cotte Poveda, 2011. "Estimando la efectividad en el control de la violencia y el desarrollo socio-económico en Colombia," Serie de Documentos en Economía y Violencia 8079, Centro de Investigaciones en Violencia, Instituciones y Desarrollo Económico (VIDE).

    More about this item

    JEL classification:

    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:irapec:v:29:y:2015:i:4:p:533-552. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/CIRA20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.