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  1. Joan Robinson in 1942, an encounter between Marxian economics and macroeconomics
    Author: Alves, Carolina
    Published: [2022]
    Publisher:  University of Cambridge, Faculty of Economics, Cambridge

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VSP 1362
    Inter-library loan:
    No inter-library loan
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Cambridge working paper in economics ; 2226
    Subjects: Joan Robinson; Marxian Economics; Rate of Profit; Exploitation
    Scope: 1 Online-Ressource (circa 25 Seiten)
  2. The Drain Gain
    an investigation into how colonial drain helped keep British economy buoyant
    Author: Bora, Kabeer
    Published: [2023]
    Publisher:  University of Utah, Department of Economics, [Salt Lake City, UT]

    The global hegemony of Britain in the 19th century is hardly a disputed fact. As a global hegemon, it oversaw the transfer of surplus from the underdeveloped world to its shores. The transfer of surplus was important in maintaining its status as a... more

    Access:
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 210
    Inter-library loan:
    No inter-library loan

     

    The global hegemony of Britain in the 19th century is hardly a disputed fact. As a global hegemon, it oversaw the transfer of surplus from the underdeveloped world to its shores. The transfer of surplus was important in maintaining its status as a hegemon. In this essay, I underline the need for Britain to colonize India, its biggest possession. India's colonial history has been the subject of a lot of scholarly attention but rarely has the focus shifted from the drain of surplus as a cause of underdevelopment of India to a transfer of surplus from India to Britain as a cause of development of Britain. I shed light on this aspect of global surplus extraction and show empirically that this transfer of surplus was invaluable for the success of the British economy. Marx's macroeconomics and his well-known law of the falling rate of profit are my main sources of support. Accounting for spurious correlation using Hamilton(1994), I find that an increase in colonial drain by 1% increases the rate of profit of Britain by around 9 percentage points. My findings are corroborated by the several robustness checks I perform, including using different measures of domestic exploitation and a different method in Autoregressive Distributed Lag (ARDL). About the whole of the 19th century up until the First World War is included in my period of analysis.

     
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / University of Utah, Department of Economics ; no: 2023, 01 (February 2023)
    Subjects: Colonial Drain; Rate of Profit; Time Series Analysis; India
    Scope: 1 Online-Ressource (circa 34 Seiten), Illustrationen