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dc.contributor.authorFroud, J.
dc.contributor.authorJohal, Sukhdev
dc.contributor.authorWilliams, Karel
dc.contributor.authorHaslam, Colin
dc.identifier.citationFroud , J , Johal , S , Williams , K & Haslam , C 2001 , ' Accumulation under conditions of inequality ' , Review of International Political Economy , vol. 8 , no. 1 , pp. 66-95 .
dc.identifier.otherPURE: 531929
dc.identifier.otherPURE UUID: a16b93e3-befa-4664-9e68-7bd3a23ca52a
dc.identifier.otherScopus: 0035582514
dc.descriptionCopyright 2005 Elsevier Science B.V., Amsterdam. All rights reserved.
dc.description.abstractThis paper presents a Keynesian analysis of accumulation under conditions of inequality in the UK and USA where household savings are channelled into corporate securities. This form of saving is dominated by the comfortable classes in upper income households whose behaviour indirectly encourages the UK and USA corporate sectors into merger and acquisition. A broader discussion of trajectory and results brings out the risk of instability in a coupon pool type of capitalism where the stock market operates like a giant Ponzi scheme. In the UK and US cases, the policy implication is that it is foolish to give the stock market a larger role in provision for retirement through schemes which encourage or enforce increased savings by lower income groups.en
dc.relation.ispartofReview of International Political Economy
dc.titleAccumulation under conditions of inequalityen
dc.contributor.institutionDepartment of Accounting, Finance and Economics
dc.contributor.institutionSocial Sciences, Arts & Humanities Research Institute
dc.description.statusPeer reviewed
rioxxterms.typeJournal Article/Review

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