An accumulation-centred view measures economic change by profit location.

Evidence

By contrast, in this paper, I propose an accumulation-centred view of economic change, in which the focus is on where profits are generated in the economy. My objective in this section is to show how dramatically these two views diverge in terms of what they signal about the fundamental shifts that characterize the contemporary US economy. — Greta R. Krippner, The Financialization of the American…, 23

Categorization

• DEFINE: Defines the paper’s signature concept: accumulation-centred vs. activity-centred views of economic change.
• XREF: This two-lens framing of measuring an economy (activity vs. profits) parallels how one might measure other systems — e.g. GDP vs. wealth concentration debates. — connects to: Supply-side economics descends directly from Smith’s saving-drives-investment theory — Mark Blyth, Austerity: The History of a Dangerous…, 296; Measuring profits rather than employment reveals financialization as the dominant economic trend — Greta R. Krippner, The Financialization of the American…, 37; Measuring finance’s rise by profits misleads if grouped under services. — Greta R. Krippner, The Financialization of the American…, 21

Related

• Measuring finance’s rise by profits misleads if grouped under services. (similarity 0.88)
• Financialization must be measured by profit generation, not employment or output (similarity 0.88)
• Measuring profits rather than employment reveals financialization as the dominant economic trend (similarity 0.87)
• Financialization marks a decisive shift from production-based to finance-driven accumulation. (similarity 0.81)
• The US economy became increasingly financialized in the post-1970s period. (similarity 0.80)
• Greta R. Krippner — The Financialization of the American Economy (similarity 0.79)
• Financialization is a pattern of accumulation dominated by financial channels over trade and production (similarity 0.79)
• Opposing measurement biases strengthen confidence in the financialization trend (similarity 0.79)
• Financialization means accumulation through financial channels rather than production (similarity 0.78)

Broader Connections

• Measuring profits rather than employment reveals financialization as the dominant economic trend #expands (0.90) — Greta R. Krippner, The Financialization of the American…, 37