The Economics of Power, Knowledge and Time

This book examines the significance of technological, organisational and institutional change as crucial factors in the analysis of the turnover time of capital. It also studies the related set of theoretical questions that concern the relationship between power, knowledge and time, in the context of capital accumulation and distribution.Michele Javary presents a creative and novel analysis of the ways in which these relationships can be analysed both conceptually and historically. She explores current issues relating to the dynamics of technical change, innovation, learning and institutional change by reviving and re-exploring one of the most penetrating contributions to economic thought: Marx's Capital. The author also combines historical and comparative perspectives to analyse the interplay between technology and organisations, based on the analysis of political governance in the United Kingdom and the rapid shift from coal to gas technologies at the time of the privatisation of the electricity supply industry. The analysis presented in the book elucidates many of the debates surrounding the economics of technological change and offers important new insights into both evolutionary and institutional economics. Students and scholars of industrial dynamics and technological change will find great value in the innovative analysis of the social and political factors that impact upon the selection, implementation and deployment of a new technology. Political economists and political scientists wishing to explore the significance of technology, organisations and institutions for capital accumulation and distribution will also be rewarded by this challenging book.