Inflation and Accumulation. The Case of Israel

Inflation and Accumulation. The Case of Israel
Nitzan, Jonathan and Bichler, Shimshon. (2000). Science & Society. Vol. 64. No. 3, Fall. pp. 274-309. (Article - Journal; English).

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Abstract or Brief Description

The paper offers a new theoretical framework for linking inflation and accumulation, with the Israeli experience as a case study. The focal point is the process of differential accumulation by the largest core firms. The theory of differential accumulation suggests that the relative power of these firms can be augmented either through ‘breadth’ (relative employment) or ‘depth’ (relative profit per employee). In the Israeli case, inflation accelerated since the 1970s when the large core firm began shifting their emphasis from breadth to depth. The paper examines the political economic conditions typical to each of these regimes, why these conditions changed in Israel, and how the distributive gains of the core firms pushed the country onto the brink of hyperinflation. It then articulates the inherent limits of a ‘depth’ regime, why Israel reached those limits during the early 1980s, and how this brought the inflation spiral to an end.

Language

English

Publication Type

Article - Journal

Keywords

arms breadth capital capitalism corporation crisis DA depth distribution finance globalization inflation institutionalism Israel M&A merger Middle East military money power prices profit stagflation state TNC

Subject

BN Theory
BN State & Government
BN Region - Middle East
BN Cooperation & Collective Action
BN Industrial Organization
BN Institutions
BN Power
BN International & Global
BN Business Enterprise
BN Value & Price
BN Crisis
BN Production
BN War & Peace
BN Conflict & Violence
BN Money & Finance
BN Ideology
BN Methodology
BN Agency
BN Comparative
BN Capital & Accumulation
BN Policy
BN Class
BN Growth

Depositing User

Jonathan Nitzan

Date Deposited

18 Oct 2012

Last Modified

30 Mar 2016 15:02

URL:

https://bnarchives.net/id/eprint/2

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