Employment and accumulation of capital around the world
An econometric analysis
Bibliographic Data
| ID | 3832578 |
|---|---|
| Authors | Carlos Alberto Duque Garcia (0000-0002-5740-7990, Universidad Autónoma Metropolitana, corresponding author) |
| Year | 2023 |
| Volume | 47 |
| Issue | 4 |
| Pages | 593-611 |
| Publication date | 2023-12-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Capital & Class (JOURNAL) |
| Journal identifiers | ISSN: 0309-8168 • E-ISSN: 2041-0980 |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1177/03098168221128944 |
| OpenAlex | W4306694125 |
| Language | EN |
| Citations received | 1 |
| References cited | 17 |
In Marx's economic theory, the level of employment is fundamentally determined by capital accumulation. Nevertheless, that determination is contradictory since, on the one hand, the employment level expands with the capital stock while, on the other hand, it tends to contract with technical change and the growing productivity of labour. This article seeks to estimate this contradictory effect employing two complementary econometric methods: first, cross-sectional regression analysis for more than 100 countries in the years 2014, 2004, 1994 and 1984; second, time-series analysis for the United States, France, Japan, Turkey and Mexico from 1964 to 2014. Our empirical results are in line with Marx's theoretical framework: the level of employment grows with the expansion of fixed capital stock and reduces with increases in the productivity of labour
Capital accumulation · Capital formation · Classical economics · Econometric analysis · Econometric model · Econometrics · Economics · Financial capital · Fixed capital · Geography · Human capital · Labour economics · Macroeconomics · Market economy · Productivity · Economic theories and models · Economic Theory and Policy · Political Economy and Marxism
| Citations per year | 1 |
|---|---|
| Citation span | 2026 - 2026 (1) |
| Highly cited | No |