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Post-Keynesian Theories of the Firm under Financialization
| Content Provider | Semantic Scholar |
|---|---|
| Author | Dallery, Thomas |
| Copyright Year | 2009 |
| Abstract | Financialization is studied here from a microeconomic viewpoint. Following Stockhammer (2004a), the theory of the firm has been amended by introducing agency problems and class analysis between shareholders and managers. Further to that, I propose two alternative configurations for incorporation into the theory: the first views financialization as a constraint for the managerial firm, while the second discusses shareholders’ interests and integrates them as an end in itself for the finance-dominated firm. My conclusions focus on finance-oppressed accumulation, financial fragility, and potential macroeconomic instability. JEL classification: D21, E12, G30 |
| Starting Page | 492 |
| Ending Page | 515 |
| Page Count | 24 |
| File Format | PDF HTM / HTML |
| DOI | 10.1177/0486613409341371 |
| Volume Number | 41 |
| Alternate Webpage(s) | http://gesd.free.fr/dallery9.pdf |
| Alternate Webpage(s) | http://www.redeco.economia.unam.mx/home/Pdf/Review_of_Radical_Political_Economics_2009_Dallery_492-515.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |