Edited by L. Randall Wray and Mathew Forstater
Chapter 19: Power of the Firm and New Mercantilism: An Analysis Based on Joan Robinson’s Thought
19. Power of the ﬁrm and new mercantilism: an analysis based on Joan Robinson’s thought Dimitri Uzunidis and Blandine Laperche The critical method adopted by Joan Robinson to present the partisan content of the neoclassical approach often refers to international economic relations in her vision of economy. But this post Keynesian conquest of the enrichment (or impoverishment) process of an economy due to international trade (or ﬁnance, or cross-border investment) materialized brutally in the face of liberal orthodoxy, which, in turn, reduced international facts to mere ﬂows or utilization of goods. It is important to underline the fact that in Joan Robinson’s science, history and politics shape economic players’ choices, functions and activities. Without spelling it out, the national state – a political organization, an economic agent and a regulator – is omnipresent in international economics. Through her long ﬂashbacks to historical facts, Joan Robinson stands up for the argument of the evolution of international relations by confronting diverging and unequally powerful national interests, both political and economic. She also emphasizes the particular and unavoidable part played by one nation’s economic power on the economic development and positioning in the international relations of other nations. As early as 1965, the British author clearly questioned many issues regarding the economic power of certain countries based on the economic power of their ﬁrms; so far, international economists have not been able (or willing) to answer such questions. ‘As long as the overall market does not grow fast enough to make room for all, each...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.