Free Cash, Capital Accumulation and Inequality

ISBN-13: 9781138051447 / Angielski / Twarda / 2018 / 178 str.

Craig Allan Medlen

Opis

Over 70 years ago, Michal Kalecki noted that firms could generate free cash. However, literature since then has remained within an industrial organizational context where free cash theory helps explain mergers. In contrast, this book views free cash at the macro and global level, exploring the various causes and effects of free cash on the economy.

Spis treści

List of Figures. List of Tables. Acknowledgments.  1. Prologue and Preview.  2. Michal Kalecki’s Derivation of Free Cash.  3. Hobson’ Choice: Free Cash Export or Domestic Redistribution.  4. Free Cash and the Stock Bubble of the 1920s.  5. Veblen’s Q-Tobin’s Q and Relative Valuation.  Appendix 1 Expansion of Cash Through New Investment.  6. Stagnation and Free Cash: A Neo-Kaleckian Model.  7. The Multinational Escape.  Appendix 2 Multinational Deficits and Parents' Embeddedness.  8. Free Cash, Relative Valuation and Inequality.  9. Crossing the Boundary Line.  Index

O autorze

Craig Allan Medlen is Professor of Economics at Menlo College, in California. He graduated with a B.A. in Economics from University of California Berkeley in 1966 and received his Ph.D from U.C. Santa Barbara in 1973.