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ON THE CONCEPT OF POWER IN ECONOMICS
Author(s) -
Bardhan Pranab
Publication year - 1991
Publication title -
economics and politics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.822
H-Index - 45
eISSN - 1468-0343
pISSN - 0954-1985
DOI - 10.1111/j.1468-0343.1991.tb00050.x
Subject(s) - section (typography) , power (physics) , context (archaeology) , focus (optics) , key (lock) , economics , positive economics , neoclassical economics , bargaining power , law and economics , mathematical economics , microeconomics , computer science , history , computer security , archaeology , quantum mechanics , optics , operating system , physics
In this paper we start with the standard definition of power and indicate how orthodox neoclassical economics fails to handle some of the key issues of power. In Sections II and III we discuss in the context of recent advances in economic theory some of the battlefields, so to speak, for the exercise of power: bargaining games in Section II and economic organizations and capitalist authority relations in Section III. In all of this we focus on the underlying structural factors. In the last Section we discuss some problems with both the behavioral and structural concepts of power.