profit - The New School SCEPA

This paper builds on Post Keynesian theory of markup pricing to outline the microfoundations of a theory of US economic hegemony in an age of global production networks.

This paper explores the interdependence of the processes of the globalization of production and financialization, to link the issue of corporate governance to supply-chain governance.

Despite corporate sector contributions to national savings, the off-shoring-financialization linkage reduces capacity of non-financial corporations to drive recovery from economic crisis.

The authors offer results of a non-parametric estimate of the US wage- Phillips Curve as a simplified version of the model of the wage-price spiral by Flaschel and Krolzig.