Record Details

Impact of Corporate Power on Consumption, Debt and Inequality: Political-Economic Model of CCC

Kasarinlan: Philippine Journal of Third World Studies

View Archive Info
 
 
Field Value
 
Title Impact of Corporate Power on Consumption, Debt and Inequality: Political-Economic Model of CCC
 
Creator Porenta, Franci; University of Ljubljana, Faculty of Economics, PhD student, Ljubljana, Slovenia
 
Subject B52; E02; P10
 
Description The literature is abundant with studies about income inequality, consumption, public and household debt but scarce with studies about the corporations and their corporate power. This paper shows that corporate power influences increased consumption in order to secure its investments and provide sufficient demand. Secondly, rising consumerism influences growing household and public debt with multiple transmission mechanisms that work simultaneously and reinforce each other. Thirdly, growing household and public debt increase inequality, disabling the government to invest in education, health care, infrastructure or social transfers, and preventing the people from investing in their education or increasing their savings and, consequently, their wealth and financial independence. Finally, the inequality causes an increase in corporate power. People who are impoverished and thus unequal in comparison with the production owners and capitalists are also weaker in the bargaining process. They cannot improve their position, so the corporate power rises completing the cumulative and circular causation.DOI: 10.15458/85451.46
 
Publisher Economic and Business Review
 
Contributor —
 
Date 2017-10-19
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://ojs.ebrjournal.net/ojs/index.php/ebr/article/view/480
 
Source Economic and Business Review; Vol 19, No 2 (2017); 155-179
2335-4216
1580-0466
 
Language eng
 
Relation http://ojs.ebrjournal.net/ojs/index.php/ebr/article/view/480/pdf_81
 
Rights Copyright (c) 2018 Economic and Business Review
—