Fix, Blair2022-11-102022-11-102015Putting Power Back Into Growth Theory. Fix, Blair. (2015). Review of Capital as Power. Vol. 2. No. 1. pp. 1-37. (Article - Journal; English).http://hdl.handle.net/10315/39975Neoclassical growth theory assumes that economic growth is an atomistic process in which changes in distribution play no role. Unfortunately, when this assumption is tested against real-world evidence, it is systematically violated. This paper argues that a reality-based growth theory must reject neoclassical principles in favour of a powercentered approach. Building on Nitzan and Bichler’s Capital as Power hypothesis, I argue that hierarchy formation is an integral part of the growth process. I hypothesize that the role of capital accumulation (through profit) is to facilitate hierarchy formation by legitimizing the authority of capitalists.Article