The University of Southampton
University of Southampton Institutional Repository

On price inflation

On price inflation
On price inflation
This thesis seeks to analyse price inflation under oligopoly
capitalism. Its central argument is that under oligopoly capitalism,
price inflation is a structural phenomenon. For a greater understanding
of that phenomenon, the adoption of the inter-industrial approach for its
analysis seems essential. According to this approach, price inflation
can be initiated in a single industry or in an industry group. The
initiating factor may be an increase in the mark-up, an increase in the
money wage rate or an increase in the foreign currency price of an
imported input. It can also be initiated by devaluation. The
input-output matrix, the core of the economic system, is the key to the
transmission of inflationary impulses (in the form of higher unit cost)
from one industry to another. Real wage resistance, rigid mark-up
resistance, and rigid foreign resistance do no more than perpetuate or
worsen the inflationary experience. The inflationary process itself has
a dual role to play. It acts as a mechanism for shifting income
distribution in favour of one section of the society against another and
as a mechanism for changing the price structure.

The author argues that the abandonment of the macroeconomic
approach to the analysis of price inflation and its replacement by the
inter-industrial approach is the first step for serious analysis of that
structural phenomenon.
Al-Wattar, Obey M.
35d76cd6-84f2-4552-b269-1927938fa550
Al-Wattar, Obey M.
35d76cd6-84f2-4552-b269-1927938fa550
Aldrich, John
206ecaac-00de-46ff-98d7-0b87668859de
Heathfield, David
ce432551-0d65-4977-a01f-44bb1693340c
Ingham, Alan
5e5ae565-3fcd-4965-bd46-63944ea93fdd
Smith, Peter
7085f0ad-c538-4208-80f4-e9b3fd36b365

Al-Wattar, Obey M. (1986) On price inflation. University of Southampton, Faculty of Social Sciences and Economics, Doctoral Thesis, 369pp.

Record type: Thesis (Doctoral)

Abstract

This thesis seeks to analyse price inflation under oligopoly
capitalism. Its central argument is that under oligopoly capitalism,
price inflation is a structural phenomenon. For a greater understanding
of that phenomenon, the adoption of the inter-industrial approach for its
analysis seems essential. According to this approach, price inflation
can be initiated in a single industry or in an industry group. The
initiating factor may be an increase in the mark-up, an increase in the
money wage rate or an increase in the foreign currency price of an
imported input. It can also be initiated by devaluation. The
input-output matrix, the core of the economic system, is the key to the
transmission of inflationary impulses (in the form of higher unit cost)
from one industry to another. Real wage resistance, rigid mark-up
resistance, and rigid foreign resistance do no more than perpetuate or
worsen the inflationary experience. The inflationary process itself has
a dual role to play. It acts as a mechanism for shifting income
distribution in favour of one section of the society against another and
as a mechanism for changing the price structure.

The author argues that the abandonment of the macroeconomic
approach to the analysis of price inflation and its replacement by the
inter-industrial approach is the first step for serious analysis of that
structural phenomenon.

PDF
87015649.pdf - Other
Download (8MB)

More information

Published date: September 1986
Organisations: University of Southampton

Identifiers

Local EPrints ID: 192475
URI: https://eprints.soton.ac.uk/id/eprint/192475
PURE UUID: baefaaae-3f56-4109-8bf9-7a9418609213

Catalogue record

Date deposited: 11 Jul 2011 15:26
Last modified: 18 Jul 2017 11:32

Export record

Contributors

Author: Obey M. Al-Wattar
Thesis advisor: John Aldrich
Thesis advisor: David Heathfield
Thesis advisor: Alan Ingham
Thesis advisor: Peter Smith

University divisions

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of https://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×