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Economies without Capital

In: Capitalism without Capital

Author

Listed:
  • Alan Shipman

    (Open University)

Abstract

If (as recent data seem to suggest) wealth has outgrown capital, capital’s composition has shifted from equity towards debt, and public debt has expanded to rescue and replace the private sector’s, what are the social and economic implications? Why does the power of capitalists, to concentrate national income and shape public policy, seem to grow as the presence of capital declines? The answers seem to lie in the imbalance between saving and investment flows that were examined in the first two chapters, but move in a different direction when confronted by the capital shortage suggested by the third.

Suggested Citation

  • Alan Shipman, 2015. "Economies without Capital," Palgrave Macmillan Books, in: Capitalism without Capital, chapter 7, pages 139-168, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-44244-4_8
    DOI: 10.1057/9781137442444_8
    as

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