TY  - CHAP
AB  - Abstract This chapter examines explanations for the slowdown of capital accumulation since 1980. Using Bureau of Labor Statistics data on trends on productivity and capital spending, we find that slowing productivity growth accounts for slower capital accumulation. Other explanations for the downturn, such as outsourcing, the “post-industrial” economy, and financialization, do not reflect macroeconomic trends. However, we argue that shareholder value ideology affected decisions about how to balance productivity growth and inputs such as capital and labor. We discuss the consequences of slowing accumulation on American economic hegemony.
VL  - 26
SN  - 978-1-78350-829-7, 978-1-78350-830-3/0198-8719
DO  - 10.1108/S0198-8719(2014)0000026004
UR  - https://doi.org/10.1108/S0198-8719(2014)0000026004
AU  - Knudsen Marcel
PY  - 2014
Y1  - 2014/01/01
TI  - Capital accumulation and the rise of finance
T2  - The United States in Decline
T3  - Political Power and Social Theory
PB  - Emerald Group Publishing Limited
SP  - 81
EP  - 105
Y2  - 2024/04/18
ER  -