Consumption corridors, capitalism and social change

Advertising, Mass Consumption and Capitalism∗

Western societies have developed into a historically new stage in the evolution of capitalism, one which is characterized by corporations exercising monopolistic power and sustaining demand by advertising through the media. While this theme has been emphasized e.g., by J. A. Schumpeter in Business Cycles; A Theoretical, Historical and Statistical Analysis of the Capitalist Process, chapter III,...

Consumption Oriented Free Capitalism

Intellectual temper of social and economic studies of our time are profoundly influenced by modern development of physical sciences and that of logical, mathematical and statistical analysis. In sorting out enlightening intellectual insights from occasionally muddled reasons of classical theories, intelligence of our time has nurtured a mental attitude in favor of precise, quantitative and piec...

Social Networking and Transnational Capitalism

Social Networking Sites (SNS) have become a key component of users’ experience of the internet. Whilst much has been made of the social dynamics of online SNS, the influence of the structures and operations of these sites – and the business models behind them – on users is rarely accounted for. This paper argues that behind the social behaviours supported by SNS, there is a growing shift toward...

Spirit of Capitalism and Conspicuous Consumption with Social Status in a Neoclassical Growth Trade Model

This study deals with dynamic interactions among social status, conspicuous consumption, spirit of capitalism, global growth, trade patterns, and inequalities in income and wealth between countries. The paper constructs a multi-country growth model with endogenous physical capital, wealth accumulation and social status. The modelling of social status is influenced by the ideas related to econom...

Endogenous Institutional Change and Dynamic Capitalism