dunnettreader + capitalism   183

Robert S. Taylor - Market Freedom as Antipower (2013) | American Political Science Review on JSTOR
Historically, republicans were of different minds about markets: some, such as Rousseau, reviled them, while others, like Adam Smith, praised them. The recent republican resurgence has revived this issue. Classical liberals such as Gerald Gaus contend that neorepublicanism is inherently hostile to markets, while neorepublicans like Richard Dagger and Philip Pettit reject this characterization—though with less enthusiasm than one might expect. I argue here that the right republican attitude toward competitive markets is celebratory rather than acquiescent and that republicanism demands such markets for the same reason it requires the rule of law: because both are essential institutions for protecting individuals from arbitrary interference. I reveal how competition restrains—and in the limit, even eradicates— market power and thereby helps us realize "market freedom," i.e., freedom as nondomination in the context of economic exchange. Finally, I show that such freedom necessitates "Anglo-Nordic" economic policies. - downloaded via iphone to dbox
Pettit  capitalism-alternatives  downloaded  markets_in_everything  capitalism-varieties  republicanism  bibliography  political_economy  Rousseau  Smith  market_failure  markets-dependence_on_government  jstor  commerce-doux  freedom  domination  market_fundamentalism  Gaus_Gerald  markets  political_theory  capitalism  article  competition  markets-structure 
july 2017 by dunnettreader
Vasant Kaiwar - The Postcolonial Orient: The Politics of Difference and the Project of Provincialising Europe (2015) | Haymarket Books
ISBN: 9781608464791 -- In this far-reaching and insightful work, Vasant Kaiwar analyzes the political, economic, and ideological cross-currents that have shaped and informed postcolonial studies. Kaiwar mobilizes Marxism to demonstrate that subaltern studies is marred by orientalism, and that far richer understandings of ‘Europe’ not to mention ‘colonialism’, ‘modernity’ and ‘difference’ are possible without a postcolonialism captive to phenomenological-existentialism and post-structuralism. -- Vasant Kaiwar (Ph.D. UCLA, 1989), Visiting Associate Professor of History, Duke University; founder-editor, South Asia Bulletin and Comparative Studies of South Asia, Africa, and the Middle East; and co-editor, Antinomies of Modernity and From Orientalism to Postcolonialism.
books  global_history  colonialism  postcolonial  orientalism  capitalism  Marxism  social_theory  modernity  existentialism  poststructuralist 
september 2016 by dunnettreader
Spencer Dimmock -The Origins of Capitalism in England 1400-1600 (2015) | Haymarket Books
ISBN: 9781608464852 - Drawing on an impressive array of original archival research and a series of critiques of recent accounts of economic development in pre-modern England, The Origin of Capitalism in England 1400-1600 offers a rich and multi-layered account of the historical rupture in English feudal society that led to the first sustained transition to agrarian capitalism and the industrial revolution. Weaving together political, social, and economic themes, Spencer Dimmock makes the case that capitalism should be viewed as a form of society rather than narrowly as an economic system. This wide-ranging work convincingly argues that the beginnings of capitalist society must be firmly located in a precisely defined historical context, rather than through reference to evolutionary and transhistorical commercial developments. This novel approach is sure to stimulate a thorough reappraisal of current orthodoxies on the transition to capitalism. -- Spencer Dimmock Ph.D. (1999), University of Kent at Canterbury, is an Honorary Research Fellow in History at Swansea University. He has published many articles and chapter contributions on pre-modern England and Wales.
books  economic_history  British_history  15thC  16thC  capitalism 
september 2016 by dunnettreader
Bond Economics: review, "Capitalism" - By Anwar Shaikh - April 2016
Capitalism: Competition, Conflict, Crises is a comprehensive overview of economics published by the noted heterodox economist Anwar Shaikh. This article is…
Instapaper  books  reviews  economic_theory  heterodox_economics  macroeconomics  capitalism  business_cycles  competition  capitalism-systemic_crisis  financial_crisis  emergence  econophysics  economic_models  from instapaper
may 2016 by dunnettreader
Geoffrey M. Hodgson - Conceptualizing Capitalism (summary) - Books & ideas - May 2015
Conceptualizing Capitalism: How the Misuse of Key Concepts Impedes our Understanding of Modern Economies -- One of the most commonly used concepts in modern humanities and social sciences, capitalism is also one of the most misunderstood. Away from politically biased takes on the subject, Geoffrey M. Hodgson proposes a new, law-based framework for understanding capitalism. Downloaded pdf to Note
books  kindle-available  intellectual_history  economic_theory  economic_models  economic_sociology  political_economy  legal_theory  philosophy_of_social_science  capitalism  downloaded 
april 2016 by dunnettreader
Marc Jimenez - La fin de la fin de l'art (2011) - Cairn.info
Décrépitude, déclin, fin, mort, progrès, décadence, dégénérescence (de l’art) ne sont plus des notions fondamentales pour penser la création actuelle. L’art contemporain, depuis plus de trois décennies, brouille les cartes esthétique, historique et idéologique qui déterminaient autrefois les critères de pertinence et de qualité des œuvres d’art. L’art ne disparaît pas, il se dissout dans le « culturel », là où la valeur marchande prévaut sur les valeurs artistique et esthétique. Le capitalisme libéral crée l’art pérenne. Il invente ainsi la fin de la fin de l’art, un art à son image, sans valeurs, sans idéaux, sans perspective humaniste, témoin désabusé de notre époque, parfois violent, excessif, mais peu contestataire, sismographe d’un monde agité et déboussolé. -- downloaded via iPhone to DBOX
elite_culture  judgment-aesthetics  postmodern  Modernism  patronage  aesthetics  popular_culture  consumer_society  declinism  art_history  taste  art-economics  conspicuous_consumption  art_market  artists  cultural_authority  downloaded  cultural_critique  capitalism  article  contemporary_art  avant_guard  cultural_studies 
february 2016 by dunnettreader
Mario Bunge, Considérations d'un philosophe sur l'économique du néo-conservatisme néo-libéralisme (1986)
Mario Bunge, “Considérations d'un philosophe sur l'économique du néo-conservatisme (néo-libéralisme)” in ouvrage sous la direction de Lizette Jalbert et Laurent Lepage, Néo-conservatisme et restructuration de l’État. Canada - États-Unis - Angleterre. Première partie : Lectures du néo-conservatisme (pp. 49 à 70) Collection Études d’économie politique. Montréal : Les Presses de l’Université du Québec, 1986, 274 pp.
Downloaded via iPhone to DBOX
social_democracy  capitalism  neoclassical_economics  market_fundamentalism  downloaded  systems_theory  Labor_markets  political_economy  neoconservatism  neoliberalism  post-WWII  etexts  Thatcher  Reagan 
february 2016 by dunnettreader
Grégory Hû , review - Thomas Bouchet, et al, Quand les socialistes inventaient l’avenir (1825-1860) - La Vie des idées - 26 août 2015
Recensé : Thomas Bouchet, Vincent Bourdeau, Edward Castleton, Ludovic Frobert et François Jarrige (dir.), Quand les socialistes inventaient l’avenir (1825-1860), Paris, La Découverte, 2014, 300p., 25€. -- À travers une activité journalistique intense mais peu connue, les socialistes du XIXe siècle ont posé les jalons d’un courant politique aussi inventif que divers. Un ouvrage collectif revient sur les racines longtemps ignorées de ce premier socialisme à l’aune de sa presse . -- Cet ouvrage collectif, issu d’un colloque tenu à l’Université de Stanford aux États-Unis en 2013, entreprend d’analyser les doctrines et les modalités d’action des « premiers socialistes » à partir de l’analyse de leur presse entre 1825 et 1851. Il s’agit d’explorer le long cheminement des aspirations des courants politiques socialistes antérieurs à Karl Marx. Les auteurs s’appuient sur la nouvelle presse périodique qui connaît à cette époque un fort développement. En effet, la révolution de 1848, en plus d’être portée par les ouvriers et le peuple, a aussi été menée par les journalistes de l’époque. -- Cette publication collective s’inscrit dans une entreprise pluridisciplinaire rassemblant des économistes, des philosophes, des historiens et des politistes autour d’axes de réflexion communs (conditions de production d’un journal, thématiques l’animant, réseau des rédacteurs). -- downloaded pdf to Note
books  reviews  French_language  intellectual_history  19thC  French_politics  Industrial_Revolution  capitalism  socialism-19thC  July_Monarchy  1848_revolutions  French_government  political_culture  political_press  political_participation  working_class  public_opinion  publishing  journalism  Restoration-France  parties  political_philosophy  downloaded 
october 2015 by dunnettreader
Nadeem J. Z. Hussain and Lydia Patton - Friedrich Albert Lange | Stanford Encyclopedia of Philosophy August 2012 revision of original May 2095
Friedrich Albert Lange (b. 1828, d. 1875) was a German philosopher, pedagogue, political activist, and journalist. He was one of the originators of neo-Kantianism and an important figure in the founding of the Marburg school of neo-Kantianism. He also played a significant role in the German labour movement and in the development of social democratic thought. His book, The History of Materialism, was a standard introduction to materialism and the history of philosophy well into the twentieth century. -- 1. Life and Intellectual Career -- 2. Pedagogy -- 3. The Labor Question -- 4. Neo-Kantianism ** 4.1 The Ethical Standpoint of the Ideal ** 4.2 Logic and Scientific Methodology -- downloaded as pdf to Note
intellectual_history  19thC  Germany  German_scholars  Lange_FA  neo-Kantian  Hegelian  German_Idealism  materialism-19thC  materialism  historiography-19thC  philosophy_of_science  epistemology  epistemology-moral  epistemology-naturalism  ancient_philosophy  atomism  logic  scientific_method  socialism  labor  capitalism  Industrial_Revolution  social_democracy  physiology  mind  perception  sensation  Kant-ethics  bibliography 
september 2015 by dunnettreader
William A. Pettigrew - Freedom's Debt: The Royal African Company and the Politics of the Atlantic Slave Trade, 1672-1752 (2013) | UNC Press
Shortlisted for the 2013 Whitfield Prize, Royal Historical Society
In the years following the Glorious Revolution, independent slave traders challenged the charter of the Royal African Company by asserting their natural rights as Britons to trade freely in enslaved Africans. In this comprehensive history of the rise and fall of the RAC, William A. Pettigrew grounds the transatlantic slave trade in politics, not economic forces, analyzing the ideological arguments of the RAC and its opponents in Parliament and in public debate. Ultimately, Pettigrew powerfully reasons that freedom became the rallying cry for those who wished to participate in the slave trade and therefore bolstered the expansion of the largest intercontinental forced migration in history. Unlike previous histories of the RAC, Pettigrew's study pursues the Company's story beyond the trade’s complete deregulation in 1712 to its demise in 1752. Opening the trade led to its escalation, which provided a reliable supply of enslaved Africans to the mainland American colonies, thus playing a critical part in entrenching African slavery as the colonies' preferred solution to the American problem of labor supply. -- William A. Pettigrew is lecturer in history at the University of Kent.
books  British_history  US_history  British_politics  17thC  18thC  slavery-Africans  African_trade  slavery-law  commerce  trading_companies  Royal_African_Co  Whigs  Whig_Junto  freedom  free_trade  maritime_history  West_Indies  North_America  American_colonies  Atlantic  colonialism  British_foreign_policy  Parliament  Harley  Bolingbroke  Peace_of_Utrecht  1690s  1700s  1710s  capitalism  plantations  colonial_governance  Nine_Years_War  War_of_Spanish_Succession  War_of_Jenkins_Ear 
september 2015 by dunnettreader
John Dunn, ed. - The Economic Limits to Modern Politics (1992) | Cambridge University Press
The central problem of modern government and political action is how to choose and implement effective economic policies. For this reason, the economic considerations of public policy have assumed a more prominent place in contemporary political thought. Despite efforts among political scientists, economists, and sociologists to fathom the complexities of this added dimension, none of these solid sciences offers a satisfying approach to the problem. This volume attempts to display the historical novelty and intellectual importance of this dilemma, to uncover its origins, and to procure a remedy through a clearer and steadier focus. The book's contributors range from historians of ideas to economic theorists, who bring the approach of their own intellectual discipline to bear upon the issue. **--** Introduction, John Dunn *-* 1. The economic limits to modern politics, John Dunn *-* 2. The wealth of one nation and the dynamics of international competition, Istvan Hont *-* 3. The political limits to pre-modern politics, J. G. A. Pocock *-* 4. The economic constraints on political programs, Frank H. Hahn *-* 5. International liberalism reconsidered, Robert O. Keohane *-* 6. Capitalism, socialism, and democracy: compatibilities and contradictions John Dunn. -- ebook Adobe Reader - not clear whether in kindle format -- excerpt (10 ogs Intro) downloaded pdf to Note
books  kindle-available  17thC  18thC  19thC  20thC  intellectual_history  economic_history  political_history  political_philosophy  political_economy  judgment-political  public_policy  capitalism  competition-interstate  economic_growth  development  raison-d'-état  British_history  British_politics  British_Empire  trade  trade-policy  Great_Divergence  economic_theory  political_culture  economic_culture  macroeconomic_policy  Innovation  innovation-government_policy  collective_action  property_rights  Labor_markets  redistribution  fiscal_policy  fiscal-military_state  Davenant  Smith  social_order  social_democracy  liberalism  elites-political_influence  IR_theory  globalization  international_political_economy  public_finance  public_goods  class_conflict  downloaded 
august 2015 by dunnettreader
Introduction - Online Seminar - Akeel Bilgrami, “Occidentalism, The Very Idea” | 3quarksdaily - September 2008
Table of contents: Akeel Bilgrami: Occidentalism, The Very Idea: An Essay on The Enlightenment and Enchantment. *--* Colin Jager: Literary Thinking: A Comment on Bilgrami *--* Bruce Robbins: Response to Akeel Bilgrami. *--* Justin E. H. Smith: A Comment on Akeel Bilgrami's "Occidentalism, The Very Idea" *--* Steven Levine: A Comment on Bilgrami. *--* Ram Manikkalingam: Culture follows politics: Avoiding the global divide between "Islam and the West" *--* Uday Mehta: Response to Akeel Bilgrami. *--* Akeel Bilgrami: A Reply to Robbins, Jager, Smith, Levine, Manikkalingam, and Mehta
-- downloaded pdf of full seminar to Note -- each contribution also had separate urls
political_philosophy  political_culture  democracy  orientalism  Orientalism-Enlightenment  Enlightenment  disenchantment  fundamentalism  Eurocentrism  red_states  US_politics  religious_culture  religion-fundamentalism  Islamist_fundamentalists  Islamophobia  GWOT  intelligentsia  bad_journalism  post-colonial  ideology  liberalism-post-WWII  clash_of_civilizations  neo-colonialism  capitalism  globalization  rationality  irrationalism  hegemony  cultural_pessimism  cultural_critique  cultural_exchange  cultural_transmission  downloaded 
august 2015 by dunnettreader
Werner Plumpe - The hour of the expert - economic expertise over 4 centuries - Eurozine - October 2012
What constitutes economic expertise? Looking at how European politics has answered this question over the last four centuries, Werner Plumpe argues that, at any given time, economic expertise is judged according to its coincidence with the conjuncture. -- Original in German -- Translation by Samuel Willcocks -- First published in Merkur 9-10/2012 (German version); Eurozine (English version) -- quite amusing, but nice overview that isn't excessively Anglo oriented
economic_history  economic_theory  expertise  sociology_of_knowledge  social_sciences  positivism  social_sciences-post-WWII  macroeconomics  economic_models  17thC  18thC  19thC  20thC  21stC  Europe-Early_Modern  intellectual_history  grand_narrative  narrative-contested  political_economy  economic_culture  economic_policy  capitalism  capitalism-varieties  capitalism-systemic_crisis  laisser-faire  cameralism  government-roles  business_cycles  business-and-politics  Keynesianism  neoclassical_economics  Austrian_economics  liberalism-19thC  finance_capital  bank_runs  financial_crisis  regulation  Marxism  public_enterprise  public_goods  infrastructure  market_fundamentalism  downloaded 
july 2015 by dunnettreader
Leo XIII - Rerum Novarum - ENCYCLICAL ON CAPITAL AND LABOR (1892) | Vatican
Rights and Duties of Capital and Labor -- That the spirit of revolutionary change, which has long been disturbing the nations of the world, should have passed beyond the sphere of politics and made its influence felt in the cognate sphere of practical economics is not surprising. The elements of the conflict now raging are unmistakable, in the vast expansion of industrial pursuits and the marvellous discoveries of science; in the changed relations between masters and workmen; in the enormous fortunes of some few individuals, and the utter poverty of the masses; the increased self reliance and closer mutual combination of the working classes; as also, finally, in the prevailing moral degeneracy. The momentous gravity of the state of things now obtaining fills every mind with painful apprehension; wise men are discussing it; practical men are proposing schemes; popular meetings, legislatures, and rulers of nations are all busied with it - actually there is no question which has taken deeper hold on the public mind. -- downloaded pdf to Note
religious_history  economic_history  19thC  capitalism  Industrial_Revolution  Gilded_Age  labor  labor_history  labor_standards  human_rights  dignity  poverty  political_economy  religious_culture  Catholics  Papacy  social_theory  social_thought  social_problem  social_gospel  working_class  laisser-faire  downloaded 
july 2015 by dunnettreader
Nicolas Duvoux, interview with Erik Olin Wright - Analytic Marxism and Real Utopias | Books & ideas - 16 November 2012
Erik Olin Wright is a prominent American sociologist and the last president of the American Sociological Association. In this interview, E. O. Wright explains the nature of "analytic Marxism”, which renewed the study of Marxism in the late 1970s and 1980s, and comes back on a more recent project called “ Envisioning Real Utopias”, which focuses on radical emancipatory alternatives to existing social structures. -- downloaded pdf to Note
social_theory  Marxist-analytical  social_sciences-post-WWII  methodology  sociology  classes  class_conflict  capitalism  capitalism-alternatives  Labor_markets  labor  labor_share  cooperation  worker_co-ops  open_source  social_movements  social_order  change-social  change-economic  downloaded 
june 2015 by dunnettreader
RP Wolff - THE IDEOLOGY OF SPACE CONSCIOUSNESS CONCLUSION - May 2015
Extending Mannheim approach to thinking about different worldviews that organize thought, priorities, values and action - liberal universalism and global capitalism have a similar view of space, where boundaries of communities and especially of nation-states are ignored, porous or viewed as frictions to overcome
social_theory  world_systems  ideology  liberalism  international_system  globalization  liberal_internationalism  IR  historicism  modernity  capitalism  political_economy  political_culture  Mannheim  Instapaper  from instapaper
may 2015 by dunnettreader
RP Wolff - THE IDEOLOGY OF SPACE CONSCIOUSNESS PART TWO - May 2015
Extending Mannheim approach to thinking about different worldviews that organize thought, priorities, values and action - liberal universalism and global capitalism have a similar view of space, where boundaries of communities and especially of nation-states are ignored, porous or viewed as frictions to overcome
social_theory  world_systems  ideology  liberalism  international_system  globalization  liberal_internationalism  IR  historicism  modernity  capitalism  political_economy  political_culture  Mannheim  Instapaper  from instapaper
may 2015 by dunnettreader
RP Wolff - THE IDEOLOGY OF SPACE CONSCIOUSNESS PART ONE - May 2015
Extending Mannheim approach to thinking about different worldviews that organize thought, priorities, values and action - liberal universalism and global capitalism have a similar view of space, where boundaries of communities and especially of nation-states are ignored, porous or viewed as frictions to overcome
social_theory  world_systems  ideology  liberalism  international_system  globalization  liberal_internationalism  IR  historicism  modernity  capitalism  political_economy  political_culture  Mannheim  Instapaper  from instapaper
may 2015 by dunnettreader
Joseph Adelson, review essay - What Caused Capitalism? | Foreign Affairs - May 2015
Once upon a time, smart people thought the world was flat. As globalization took off, economists pointed to spreading market forces that… Includes new Cambridge History of Capitalism, Mokyr Enlightened Economy, Acemoglu and Robinson Why Nations Fail, and Beckert Empire of Cotton -- contrasts tales that are, in broad brush, optimistic and internalist re origins (especially Mokyr) vs pessimistic and externalist (especially Cotton) -- copied to Instapaper
books  reviews  bookshelf  economic_history  capitalism  Great_Divergence  ancient_history  global_economy  global_history  global_system  Europe-Early_Modern  city_states  Italy  Spain  France  British_history  India  US_history  colonialism  imperialism  empires  institutional_economics  technology  development  Scientific_Revolution  Industrial_Revolution  industrialization  industrial_policy  US_Civil_War  slavery  property  property_rights  mercantilism  mercantilism-violence  Instapaper  markets  political_economy  economic_culture  economic_growth  from instapaper
may 2015 by dunnettreader
Piketty Interview - Potemkin Review - 2015
(Deutsch ) Photo: Potemkin Review Potemkin Review met with Thomas Piketty at his Paris office and talked to him about his book Capital in the 21st Century ,… The more interesting sections deal with critique from the left, and his use of wealth in lieu of classic definitions of capital -- most critiques are answered with "I don't believe in the neoclassical framework that I used to illustrate the problem, but it's the only way that most trained economists can be communicated with -- I see myself as more of an historian and sociologist"
economic_theory  macroeconomics  economic_sociology  social_theory  economic_history  inequality  capital  capitalism  1-percent  Piketty  Instapaper  from instapaper
may 2015 by dunnettreader
William Lazonick - Stock buybacks: From retain-and reinvest to downsize-and-distribute | Brookings Institution - April 2015
Stock buybacks are an important explanation for both the concentration of income among the richest households and the disappearance of middle-class employment opportunities in the United States over the past three decades. Over this period, corporate resource-allocation at many, if not most, major U.S. business corporations has transitioned from “retain-and-reinvest” to “downsize-and-distribute,” says William Lazonick in a new paper.
paper  US_economy  capital_markets  capitalism  investment  R&D  corporate_governance  corporate_finance  buybacks  shareholder_value  short-termism  incentives-distortions  labor_share  productivity  productivity-labor_share  inequality  wages  unemployment  downloaded 
may 2015 by dunnettreader
Steve Perlstein - Social Capital, Corporate Purpose, and the Revival of American Capitalism | Brookings Institution - January 2014
Since the Great Recession of 2008, corporate profits have more than rebounded, and yet the rest of the American economy has struggled to recover. Widening income inequality and an erosion of social capital and economic trust has deprived capitalism of its moral high ground. The public has lost confidence in big businesses--asking what purpose they serve in society writ large. Pearlstein argues we can begin to restoring the economic and moral legitimacy of American capitalism by reconsidering the purpose of corporations in American life. Despite the current dominance of the theory of “maximizing shareholder value,” this idea has little basis in history or law. Shifting to a more balanced form of capitalism will take time, but some possible steps for reform include: #-# Support investment funds dedicated to long-term horizons, including socially responsible investment funds #-# Recalibrate corporate governance law to allow for more flexible decision making #-# Rebalance capital gains taxes to encourage long-term stock holding by investors #-# Explore regulatory options for financial services, like a financial transaction tax to dampen the influence of short-term trading #-# Encourage a wider range of corporate metrics beyond quarterly earnings guidance #-# Reform shareholder voting rights to foster a sense of stewardship -- didn't download it -- Brookings also has video of Perlstein in Charlie Rose
paper  video  corporate_governance  corporate_citizenship  business_practices  corporate_finance  corporate_law  corporate_tax  financial_crisis  investors  institutional_investors  shareholder_value  capital_markets  shareholder_voting  capital_gains  financial_transaction_tax  short-termism  capitalism  capitalism-systemic_crisis 
may 2015 by dunnettreader
Dietz Vollrath - All Institutions, All the Time? | The Growth Economics Blog - April 2015
Wolfgang Keller and Carol Shiue just released a working paper on “Market Integration as a Mechanism for Growth“. They are looking at growth in Germany during… Discusses a neat paper looking at parts of Germany that followed different patterns of economic development and growth in the 19thC, comparing cities based on (1) degree of market integration (measured by wheat prices) and (2) whether they transformed property relations from feudal to liberal, disbanded guilds, and adopted "equality before the rule of law". The second tended to reflect whether a city was conquered by Napoleon. He first looks at each variable and how the authors define it, what's likely involved in whether it's positive for a given city. He critiques some of their methodology, such as combining legal and socioeconomic indicators into a single weighted index. But his strongest critique is how the authors keep refining their analysis to make "institutional" factors appear highly significant, when the significance is unclear to put it charitably. And the biggest problem where they are likely to find significance, cities conquered by Napoleon, doesn't consider different types of causality that might have been involved, e.g. a city's situation geographically (which affected market integration) and degree of economic development might have been part of why Napoleon focused on those cities to conquer, from which he organized things like supply lines or transport for his armies. It's a continuation of his ongoing critique of what he sees as a fad for institutional explanations that don't actually demonstrate what they say they do -- let alone suggest how institutional development could be replicated. -- copied to Instapaper
economic_history  19thC  Germany  feudalism  capitalism  property_rights  guilds  urban_development  institutional_economics  market_integration  Napoleonic_Wars  Napoleonic_Wars-impact  Instapaper  from instapaper
april 2015 by dunnettreader
Martin Albrow, review essay - Who Rules the Global Rule Makers? - Books & ideas - 3 November 2011
Reviewed: Tim Bütheand Walter Mattli, The New Global Rulers: The Privatization of Regulation in the World Economy, Princeton University Press, Princeton, New Jersey, 2011; and Vibert, Frank, Democracy and Dissent: The Challenge of International Rule Making, Edward Elgar, Cheltenham, UK, 2011. -- Tags : democracy | globalisation | European Union | governance | United States of America -- Thirty years of misguided deregulation have brought us the 2008 collapse. Two books look at how we should create new rules democratically. While adopting widely different perspectives, both beg the same question: can rulemaking alone ensure the wellbeing of people in a global society? -- saved to Instapaper
books  reviews  21stC  globalization  global_governance  privatization  MNCs  IFIs  regulation  regulation-harmonization  regulation-enforcement  deregulation  capitalism-systemic_crisis  capital_flows  capital_markets  sovereignty  capitalism  democracy  democracy_deficit  political_participation  US_foreign_policy  US_economy  US_politics  market_fundamentalism  markets_in_everything  markets-failure  plutocracy  Instapaper 
april 2015 by dunnettreader
Robert Skidelsky - Universal Man: The Seven Lives of John Maynard Keynes review – more than the sum of its parts - March 2015
I admit I came to Universal Man: The Seven Lives of John Maynard Keynes with a certain prejudice. I knew Richard Davenport-Hines as an accomplished writer and biographer. But he has no background in economics. How could he write a successful life of the most fascinating and influential economist of the 20th century, the economist who gave governments the tools to fight slumps? (Not that they always use them!)
books  reviews  biography  Keynes  20thC  British_history  economic_history  Great_Depression  Bretton_Woods  cultural_history  capitalism  Skidelsky  Pocket 
april 2015 by dunnettreader
Nicolas Duvoux - Interview with Luc Boltanski - Le pouvoir est de plus en plus savant | January 2011 - La Vie des idées
Dossier(s) : Pierre Bourdieu et la culture Classes sociales et inégalités : portrait d’une France éclatée -- Mots-clés : Bourdieu | critique | sociologie | institutions | pragmatisme | épistémologie | domination | classes sociales | théorie politique -- Le sociologue Luc Boltanski revient sur ses deux publications les plus récentes : "Rendre la réalité inacceptable" et "De la critique". Après avoir situé ces ouvrages dans sa trajectoire intellectuelle, l’entretien procède à une explicitation des concepts centraux de De la critique puis évoque des pistes pour renouveler la critique à un moment historique qui est celui de l’apogée du capitalisme et de l’État mais aussi de leur crise et de la crise de leur relation. -- Cet entretien a été réalisé avec l’aide d’Arnaud Esquerre et de Jeanne Lazarus (membre du conseil de rédaction de La Vie des idées). La version écrite est la transcription de la conversation orale. Elle ne constitue pas un texte indépendant même si certaines précisions ont pu être apportées par rapport à l’entretien vidéo. -- 1st part translated into English -- downloaded French pdf to Note
social_theory  cultural_capital  classes  Bourdieu  cultural_critique  political_economy  political_culture  critical_theory  Great_Recession  capitalism  capitalism-systemic_crisis  downloaded  from instapaper
april 2015 by dunnettreader
Isabelle Kalinowski, review essay - Max Weber and Capitalism’s Strange Rationality - Books & ideas - November 2014
translated by Michael C. Behrent -- Reviewed: (1) Michael Löwy, La Cage d’acier. Max Weber et le marxisme wébérien [The Iron Cage: Max Weber and Weberian Marxism], Stock, coll. "Un ordre d’idées", 2013, 200 p., 18€ -- (2) Michel Lallement, Tensions majeures. Max Weber, l’économie, l’érotisme [Major Tensions: Max Weber, Economics, Eroticism], Gallimard, 2013, 288 p., 19.90€. -- interesting discussion of his use of dichotomies that don't resolve into a dialectical synthesis -- also nice re how he uses the forces pushing toward rationalization of two interacting types, formal and substantive, that allows him to deploy it in many different cultures and eras, not just modernity -- Useful references to various pieces of his oeuvre in the footnotes -- downloaded pdf to Note
books  reviews  social_theory  Weber  modernity  modernity-emergence  capitalism  Marx  economic_history  economic_sociology  sociology_of_religion  sociology  dialectic-historical  19thC  20thC  Germany  rationalization-institutions  rationality-economics  rationality  downloaded 
march 2015 by dunnettreader
F.A. Hayek - Individualism and Economic Order - Books | Mises Institute
If you are looking to acquaint yourself with F.A. Hayek's perspective on economic theory — beyond his business cycle and monetary studies of the inter-war years — this is the best source. The collection appeared in 1947, before he moved on toward broader cultural and social investigations. It contains his most profound work on the liberal economic order, and his most penetrating reflections on economic phenomena -- published U of Chicago 1958 -- downloaded pdf to Note
books  etexts  intellectual_history  20thC  entre_deux_guerres  Austrian_economics  Hayek  social_theory  economic_theory  liberalism  socialism  communism  fascism  individualism  capitalism  market_fundamentalism  markets  prices  coordination  coordination-governments  political_economy  political_philosophy  downloaded 
february 2015 by dunnettreader
François Jarrige, « E. P. Thompson, une vie de combat » | La Vie des idées, 6 janvier 2015
Grand historien de la classe ouvrière anglaise, figure intellectuelle majeure des débats sur le marxisme dans les années 1960-1970, militant antinucléaire à l’origine d’une critique écologiste du capitalisme : tels furent les visages multiples d’Edward Palmer Thompson, dont l’œuvre continue d’imprégner en profondeur l’ensemble des sciences sociales. -- the French are (re)discovering Thompson and his particular version of a Marxian approach that was highly allergic to Theory. -- extensive footnotes -- downloaded pdf to Note
article  books  historians  historians-and-politics  historiography  historiography-postWWII  20thC  social_history  Europe-Early_Modern  British_history  British_politics  18thC  19thC  working_class  Thompson_EP  moral_economy  morality-conventional  norms  Industrial_Revolution  Marxist  social_theory  social_sciences  political_philosophy  Marxism  industrialization  Whigs-oligarchy  property_rights  capitalism  capitalism-systemic_crisis  environment  sustainability  downloaded 
january 2015 by dunnettreader
Branko Milanovic: Can Black Death explain the Industrial Revolution? | globalinequality - Jan 11 2015
re presentation by a young scholar at Santa Fe suggesting that Why England (and Dutch) due to higher wages in Northern Europe post Black Death in contrast with South where non market repression or property arrangements were able to push adjustment costs inti agricultural workers without impact on wage rates. Milanovic compares with other theoretical approaches ie Pomerantz, Acemoglu & Robinson, Robert Allen etc. Link to 2007 paper by Pamuk Milanovic thinks may be 1st work to seriously look at differential impact of Black Death on northern & southern Europe as distinct from the common story if Western vs Central and Eastern Europe.
economic_history  Great_Divergence  Industrial_Revolution  Black_Death  North-Weingast  landowners  demography  economic_sociology  labor  agriculture  wages  productivity  colonialism  medieval  14thC  15thC  16thC  17thC  18thC  institutional_economics  capital  capitalism  China  Japan  ancient_Rome  slavery  bibliography 
january 2015 by dunnettreader
Geoffrey Jones (HBS Working Papers 2013) - Debating the Responsibility of Capitalism in Historical and Global Perspective
This working paper examines the evolution of concepts of the responsibility of business in a historical and global perspective. It shows that from the nineteenth century American, European, Japanese, Indian and other business leaders discussed the responsibilities of business beyond making profits, although until recently such views have not been mainstream. There was also a wide variation concerning the nature of this responsibility. This paper argues that four factors drove such beliefs: spirituality; self-interest; fears of government intervention; and the belief that governments were incapable of addressing major social issues.

Keywords: Rachel Carson; Sustainability; Local Food; Operations Management; Supply Chain; Business And Society; Business Ethics; Business History; Corporate Philanthropy; Corporate Social Responsibility; Corporate Social Responsibility And Impact; Environmentalism; Environmental Entrepreneurship; Environmental And Social Sustainability; Ethics; Globalization; History; Religion; Consumer Products Industry; Chemical Industry; Beauty and Cosmetics Industry; Energy Industry; Food and Beverage Industry; Forest Products Industry; Green Technology Industry; Manufacturing Industry; Asia; Europe; Latin America; Middle East; North and Central America; Africa
paper  downloaded  economic_history  business_history  imperialism  US  British_Empire  France  Germany  Japan  Spain  Dutch  Latin_America  Ottoman_Empire  India  18thC  19thC  20thC  corporate_citizenship  corporate_governance  business  busisness-ethics  business-and-politics  common_good  communitarian  environment  labor  patriarchy  paternalism  labor_standards  regulation  product_safety  inequality  comparative_economics  capital_as_power  capitalism  CSR  political_economy  economic_culture  economic_sociology  self-interest  ideology 
january 2015 by dunnettreader
Randal Samstag - Proudhon and His Critics | Notes from my library - Nov 2014
A reading of Proudhon and critical responses by Marx, still within labor theory of value, and Walras from vantage of price theory. -- following up on a comment from Marx that “he imitates the contradictory method of Kant, the only German philosopher that he knew at that time, from translation, and he leaves a strong impression that for him, as for Kant, the solution of these contradictions is “beyond” the human understanding, that is to say, that his understanding is incapable of solving them (extract from Sozial-Democrat, January, 1965 and included as an appendix to the Prometheus Books edition of The Poverty of Philosophy).” I agree with Marx that Proudhon presents the contradictions of capitalism as true, but I question Marx’s certainty that an historical solution is readily at hand, even today, over 150 years after Marx wrote these words. I will concentrate on Proudhon’s book, The Evolution of Capitalism, also known as, System of Economical Contradictions or, The Philosophy of Misery (Système des contradictions économiques ou philosophie de la misère), and primarily on the first of its two volumes, available from Project Gutenberg in English by an anonymous translator. Contradictions has a very symmetrical structure from the Introduction, which proposes the necessity of the hypothesis of God, to Chapter VIII, where the opposite is maintained. In between, each of the major concepts of: value, division of labor, machinery, competition, monopoly, and taxation, are critiqued, first stating the necessity or benefit of each topic and then the opposite.
intellectual_history  economic_history  economic_theory  19thC  labor_share  political_economy  Marx  capitalism 
november 2014 by dunnettreader
ECONOMICS AS SOCIAL THEORY - Routledge Series edited by Tony Lawson - Titles List
Social theory is experiencing something of a revival within economics. Critical analyses of the particular nature of the subject matter of social studies and of the types of method, categories and modes of explanation that can legitimately be endorsed for the scientific study of social objects, are re-emerging. Economists are again addressing such issues as the relationship between agency and structure, between the economy and the rest of society, and between inquirer and the object of inquiry. There is renewed interest in elaborating basic categories such as causation, competition, culture, discrimination,evolution, money, need, order, organisation, power, probability, process, rationality, technology, time, truth, uncertainty and value, etc. The objective for this series is to facilitate this revival further. In contemporary economics the label `theory' has been appropriated by a group that confines itself to largely a-social, a-historical, mathematical `modelling'. Economics as Social Theory thus reclaims the `theory' label, offering a platform for alternative, rigorous, but broader and more critical conceptions of theorising.
books  social_theory  economic_theory  social_sciences  intellectual_history  political_economy  causation-social  economic_sociology  economic_culture  rationality-economics  rational_choice  rationality-bounded  rational_expectations  critical_realism  evolution-social  history_of_science  historical_sociology  agency-structure  power  power-asymmetric  business-and-politics  capitalism  capital_as_power  Marxist  Post-Keynesian  epistemology  epistemology-social  conventions  social_order  civil_society  public_policy  public_goods  anarchism  competition  financialization  development  economic_growth 
october 2014 by dunnettreader
Nitzan, Jonathan - From Olson to Veblen: The Stagflationary Rise of Distributional Coalitions (1992) | bnarchives
Paper read at the annual meeting of the History of Economics Society. Fairfax, Virginia. 1-2 June (1992). pp. 1-75. -- This essay deals with the relationship between stagflation and the process of restructuring. The literature dealing with the interaction of stagnation and inflation is invariably based on some explicit or implicit assumptions about economic structure, but there are very few writings which concentrate specifically on the link between the macroeconomic phenomenon of stagflation and the process of structural change. Of the few who dealt with this issue, we have chosen to focus mainly on two important contributors – Mancur Olson and Thorstein Veblen. The first based his theory on neoclassical principles, attempting to demonstrate their universality across time and place. The second was influenced by the historical school and concentrated specifically on the institutional features of modern capitalism. Despite the fundamental differences in their respective frameworks, both writers arrive at a similar conclusion, namely, that the phenomenon of stagflation is inherent in the dynamic evolution of collective economic action, particularly in the rise and consolidation of 'distributional coalitions.' -- Keywords: absentee ownership, intangible assets, big business, bonds, capital, accumulation, capitalism, collective action, collusion, corporation, credit, degree of monopoly, distributional coalitions, excess capacity, finance, immaterial wealth, income distribution, industry, inflation, institutions, interest, labour, liabilities, machine process, material wealth, neoclassical economics, normal rate of return, power, price, profit, productivity, property, sabotage, scarcity, stagnation, stagflation, stocks, tangible assets, technology, United States, value
paper  US_economy  economic_history  economic_theory  institutional_economics  Veblen  political_economy  Olson_Mancur  public_choice  collective_action  capital  capitalism  power  power-asymmetric  business-and-politics  interest_groups  interest_rates  interest_rate-natural  profit  corporate_ownership  managerialism  industry  production  productivity  productivity-labor_share  sabotage-by_business  distribution-income  distribution-wealth  wealth  asset_prices  financial_system  credit  competition  monopolies  oligopoly  prices  inflation  stagnation  property  technology  capital_markets  antitrust  neoclassical_economics  change-economic  change-social  levels_of_analyis  mesolevel  microfoundations  downloaded  EF-add 
october 2014 by dunnettreader
Bichler, Shimshon and Nitzan, Jonathan - Differential Accumulation (Reprint) | bnarchives
Dissident Voice. 28 December 2011. pp. 1-13. (Magazine Article; English). -- This is the latest version of this eprint. -- Early in 2011, we received a surprising invitation from the Financial Times Lexicon. A reader had suggested that an entry on differential accumulation be added to the Lexicon, and the online content developer asked us if we would be willing to write it. Our first thought was that this must have been a mistake. . . . Keywords: capital, capitalization, differential accumulation, finance, investment, modes of power, sabotage -- downloaded pdf to Note
article  capital_as_power  capital  capitalism  capitalization  accumulation  accumulation-differential  financial_system  finance_capital  financialization  investment  power  power-asymmetric  sabotage-by_business  downloaded  EF-add 
october 2014 by dunnettreader
Jonathan Nitzan - Global Capital: Political Economy of Capitalist Power (YorkU, Graduate Seminar, Fall Term, 2014-15) | bnarchives
The seminar has two related goals: substantive and pedagogical. The substantive purpose is to tackle the question of capital head on. The course explores a spectrum of liberal and Marxist theories, ideologies and dogmas – as well as a radical alternative to these views. The argument is developed theoretically, historically and empirically. The first part of the seminar provides a critical overview of political economy, examining its historical emergence, triumph and eventual demise. The second part deals with the two ‘materialistic’ schools of capital – the liberal theory of utility and the Marxist theory of labour time – dissecting their structure, strengths and limitations. The third part brings power back in: it analyses the relation between accumulation and sabotage, studies the institutions of the corporation and the state and introduces a new framework – the capitalist mode of power. The final part offers an alternative approach – the theory of capital as power – and illustrates how this approach can shed light on conflict-ridden processes such as corporate merger, stagflation, imperialism and Middle East wars. Pedagogically, the seminar seeks to prepare students toward conducting their own independent re-search. Students are introduced to various electronic data sources, instructed in different methods of analysis and tutored in developing their empirical research skills. As the seminar progresses, these skills are used both to assess various theories and to develop the students’ own theoretical/empirical research projects. -- Keywords: arms accumulation capital capitalism conflict corporation crisis distribution elite energy finance globalization growth imperialism GPE liberalism Marxism military Mumford national interest neoclassical neoliberalism oil ownership peace power profit ruling class security stagflation state stock market technology TNC Veblen violence war -- syllabus and session handouts downloaded pdf to Note
bibliography  syllabus  capital_as_power  international_political_economy  political_economy  economic_theory  liberalism  neoliberalism  neoclassical_economics  Keynesian  Marxist  capital  capitalism  social_theory  power-asymmetric  globalization  financial_system  financial_regulation  risk-systemic  international_finance  finance_capital  financialization  production  distribution-income  distribution-wealth  inequality  MNCs  corporations  corporate_finance  corporate_ownership  corporate_control_markets  economic_growth  economic_models  imperialism  military  military-industrial_complex  IR_theory  ruling_class  class_conflict  energy  energy-markets  MENA  accumulation  accumulation-differential  capital_markets  public_finance  profit  investment  technology  elite_culture  elites-self-destructive  capitalism-systemic_crisis  Veblen  Mumford  downloaded  EF-add 
october 2014 by dunnettreader
Hyeng-Joon Park - Korea’s Post-1997 Restructuring: An Analysis of Capital as Power | forthcoming in Review of Radical Political Economics (2015) pp. 1-44 | bnarchives
This paper aims to transcend current debates on Korea’s post-1997 restructuring, which rely on a dichotomy between domestic industrial capital and foreign financial capital, by adopting Nitzan and Bichler’s capital-as-power perspective. Based on this approach, the paper analyzes Korea’s recent political economic restructuring as the latest phase in the evolution of capitalist power and its transformative regimes of capital accumulation. -- Keywords: differential accumulation dominant capital chaebols transnationalization strategic sabotage -- Subjects: BN State & Government, BN Institutions, BN Power, BN International & Global, BN Region - Asia, BN Business Enterprise, BN Value & Price, BN Crisis, BN Production, BN Conflict & Violence, BN Money & Finance, BN Distribution, BN Comparative, BN Capital & Accumulation, BN Policy, BN Class, BN Labour, BN Growth -- downloaded from author's blog to Note
article  international_political_economy  capital_as_power  globalization  Korea  East_Asia  20thC  21stC  economic_history  1990s  2000s  2010s  Asian_crisis  Asia_Pacific  international_finance  FDI  finance_capital  financialization  emerging_markets  oligopoly  chaebols  crony_capitalism  industry  production  capitalism  capitalism-systemic_crisis  capitalization  accumulation  distribution-income  distribution-wealth  cross-border  trade  productivity-labor_share  class_conflict  labor_share  Labor_markets  unions  violence  economic_growth  sabotage-by_business  business-and-politics  business-norms  power-asymmetric  public_policy  public_goods  corporate_finance  corporate_ownership  investment  banking  political_culture  economic_culture  economic_reform  economic_policy  democracy  opposition  downloaded  EF-add 
october 2014 by dunnettreader
Bichler, Shimshon and Nitzan, Jonathan - Nonlinearities of the Sabotage-Redistribution Process - Working Paper May 2014 | bnarchives
The relationship between sabotage and redistribution is inherently nonlinear. This research note illustrates aspects of this nolinearity in the case of the United States. 5 pages - Web page has links to small Excel sheet and 5 jpegs of the graphs. -- Keywords: sabotage redistribution United States-- Subjects: BN Conflict & Violence, BN Data & Statistics, BN Methodology, BN Resistance, BN Power, BN Region - North America, BN Capital & Accumulation, BN Business Enterprise -- downloaded pdf to Note
paper  data  capital_as_power  US_economy  political_economy  political_culture  economic_culture  business-and-politics  corporations  profit  distribution-income  labor_share  oligopoly  MNCs  military-industrial_complex  financial_system  finance_capital  financialization  accumulation  capitalism  capitalism-systemic_crisis  elites-self-destructive  inequality  neoliberalism  public_goods  sabotage-by_business  privatization  power-asymmetric  downloaded  EF-add 
october 2014 by dunnettreader
Bichler, Shimshon and Nitzan, Jonathan - Palan on Piketty - New Left Project, September 2014 | bnarchives
In late August, 2014, we received an invitation from the New Left Project to comment on Ronen Palan’s article ‘Capitalising the Future’. Palan’s piece examines Thomas Piketty’s book ‘Capital in the Twenty-First Century’ (2014), and the editors felt it had strong affinities with our approach. The affinities are certainly there (albeit unmentioned). But they are largely superficial. Palan demonstrates little understanding of our framework, and we very much doubt he has comprehended Piketty’s. His article contains so many elementary errors and fallacies that it is unclear how it got published in the first place. [The NLP piece has been revised to make the text less confrontational. For those interested, we also provide the original unedited version.] -- Keywords: futurity leverage, Sokal Hoax, postism Piketty -- Keywords includes "Sokal Hoax" so looks like B&N have vented their ire at posties on the hapless Palan -- downloaded pdf of unedited version to Note
article  books  review  Piketty  capitalism  inequality  capital_as_power  postmodern  capitalization  political_economy  capital  leverage  downloaded  EF-add 
october 2014 by dunnettreader
Nitzan, Jonathan and Bichler, Shimshon - The Capitalist Algorithm. Reflections on Robert Harris' "The Fear Index" (2014) | bnarchives
Real-World Economics Review. May 2014. pp. 137-142. -- Alexander Hoffmann is a physicist-turned-financier, a refugee from the particle accelerator complex in CERN who now runs a $10-billion algorithmic hedge fund from nearby Geneva. The fund is managed by VIXAL, Hoffmann’s machine learning algorithm, and is incredibly successful. The company’s statistics boast a consistently huge Alpha – a measure indicating by how much the fund beats the average and exceeds the normal rate of return – and the world’s biggest oligarchs and financial institutions are salivating at the mere thought of being allowed to invest in it. Managing their money has made Hoffmann very rich. In just a few years, he has seen his net worth rise from nothing to over a billion dollars. He has acquired a huge mansion, complete with a beautiful wife and a library full of antique books. There is no limit to what he is set to achieve. But things are not exactly what they seem to be. -- Keywords - automation artificial intelligence capitalization financial markets fear hype power -- downloaded pdf to Note
financial_system  capital_markets  capitalism  power-asymmetric  power-symbolic  capital_as_power  artificial_intelligence  hype  fear  markets-psychology  social_psychology  automation  downloaded  EF-add 
october 2014 by dunnettreader
William M. Dugger and William Waller - Radical Institutionalism: From Technological to Democratic Instrumentalism | JSTOR: Review of Social Economy, Vol. 54, No. 2 (SUMMER 1996), pp. 169-189
This article explains the nature and significance of radical institutionalism. Radical institutionalism does not represent a break with the institutionalist paradigm, but an attempt to move it beyond its outmoded, Ayresian philosophical foundation. Radical institutionalism involves the introduction of three new elements into the contemporary stream of institutionalist works. These three new elements include an emphasis on Veblenian fundamentals, a shift in research interests, and a reconsideration of the philosophical foundations of inquiry. -- useful bibliography of generations of institutionalist theorists -- downloaded pdf to Note
article  jstor  social_theory  intellectual_history  economic_theory  economic_history  institutional_economics  epistemology-social  sociology_of_knowledge  capitalism  corporations  welfare_state  democracy  Veblen  class_conflict  financialization  ruling_class  postmodern  Post-Keynesian  epistemology  critical_realism  bibliography  downloaded  EF-add 
october 2014 by dunnettreader
Neil Davidson - How Revolutionary Were the Bourgeois Revolutions? (2012) Kindle Price:$17.60 - 840 pages | Kindle eBooks @ Amazon.com.
Includes Scottish late transition from feudalism and a different angle on Scot and English historiography in 17thC re "feudal law", "ancient constitution", James I & VI etc than Pocock's version -- earlier books on 16thC-18thC Scotland look very interesting -- In this panoramic historical analysis, Davidson defends a renovated concept of bourgeois revolution. He shows how our globalized societies of the present are the result of a contested, turbulent history marked by often forceful revolutions directed against old social orders, from the Dutch Revolt to the English and American Civil Wars and beyond. -- Review *--* " What should our conception of a bourgeois revolution be, if it is to enlighten rather than to mislead ? Davidson’s instructive and provocative answer is given through a history both of a set of concepts and of those social settings in which they found application.His book is an impressive contribution both to the history of ideas and to political philosophy.” —ALASDAIR MACINTYRE. *--* “Davidson wends his way through the jagged terrain of a wide range of Marxist writings and debates to distill their lessons in what is unquestionably the most thorough discussion of the subject to date. If the paradox at the heart of the bourgeois revolutions was that the emergence of the modern bourgeois state had little to do with the agency of the bourgeoisie, then Davidson’s study is by far the most nuanced and illuminating discussion of this complex fact.” —JAIRUS BANAJI, Theory as History “[This] is a monumental work. ...easily the most comprehensive account yet of the ‘life and times’ of the concept of ‘bourgeois revolution.’ . . . He has also provided us with a refined set of theoretical tools for understanding the often complex interactions between political revolutions which overturn state institutions and social revolutions which involve a more thoroughgoing transformation of social relations.” —COLIN MOOERS, The Making of Bourgeois Europe
books  kindle-available  buy  16thC  17thC  18thC  19thC  20thC  political_history  social_history  intellectual_history  social_order  Europe-Early_Modern  revolutions  bourgeoisie  Marxist  Dutch_Revolt  English_Civil_War  Glorious_Revolution  Glorious_Revolution-Scotland  1707_Union  Jacobites  1745_rebellion  American_Revolution  French_Revolution  1848_revolutions  German_unification  Italian_unification  Russian_revolution  class_conflict  feudalism  ancient_constitution  aristocracy  Ancien_régime  liberalism  republics-Ancient_v_Modern  US_Civil_War  political_culture  political_economy  capitalism 
september 2014 by dunnettreader
Richard Lachmann - States and Power (PPSS - Polity Political Sociology series) - 249 pages (2013) | Kindle eBooks @ Amazon.com.
States over the past 500 years have become the dominant institutions throughout the world, exercising vast and varied authority over the economic well-being, health, welfare, and very lives of their citizens. This concise and engaging book explains how power became centralized in states at the expense of the myriad of other polities that had battled one another over previous millennia. Richard Lachmann traces the contested and historically contingent struggles by which subjects began to see themselves as citizens of nations and came to associate their interests and identities with states. He explains why the civil rights and benefits they achieved, and the taxes and military service they in turn rendered to their nations, varied so much. Looking forward, Lachmann examines the future in store for states: will they gain or lose strength as they are buffeted by globalization, terrorism, economic crisis, and environmental disaster? This stimulating book offers a comprehensive evaluation of the social science literature that addresses these issues, and situates the state at the center of the world history of capitalism, nationalism, and democracy. It will be essential reading for scholars and students across the social and political sciences. -- reviews all the main theoretical approaches to rise of the nation-state, state-building, and various speculations on the demise or transformation of the state in the era of globalization and transnational actors and issues. -- looks extremely helpful, if for nothing than the lit review and bibliography
books  kindle-available  buy  historical_sociology  political_sociology  nation-state  nationalism  national_ID  citizenship  legitimacy  Europe-Early_Modern  colonialism  imperialism  IR_theory  capitalism  mercantilism  military_history  16thC  17thC  18thC  19thC  20thC  21stC  empires  empire-and_business  legal_system  international_law  international_political_economy  global_governance  globalization  elites  elite_culture  MNCs  international_organizations  international_system  power  IR-domestic_politics  terrorism  Internet  democracy  rule_of_law  civil_society  civil_liberties  social_theory  national_interest  refugees 
september 2014 by dunnettreader
Neil Davidson - Discovering The Scottish Revolution 1692-1746 (2003) 400 pages : pbk 9780745320533: Amazon.com: Books
This major new work of historical scholarship offers a groundbreaking reassessment of Scottish politics and society in the late seventeenth and early eighteenth century that is set to become a standard work on the subject. Neil Davidson argues that Scotland experienced a revolution during this period that has rarely been recognised in the existing historiography. Davidson explores the political and economic changes of these years, revealing how social and economic power was transferred from one class to another. He describes how Scotland was transformed from a backward and feudal economy to a new centre of emergent capitalism. He traces the economic and social crisis that led to Scotland's incorporation into the Union in 1707, but argues that the Union did not lead to the transformation of Scottish society. The decisive period was instead the aftermath of the last Jacobite revolt in 1746, whose failure was integral to the survival and consolidation of British, and ultimately global capitalism. 'His opinions are bound to cause controversy and discussion . . . a good thing as Scottish history desperately needs the airing and voicing of new approaches.' John R Young, Albion. 'What is so good about Neil Davidson's brave study is that he brings a Marxist perspective to bear on Scottish history in very clear and readable prose. Quotations and statistics drawn from uncannily wide reading will make this book of great value even to those who disagree with it.' Angus Calder, author of Revolutionary Empire and Revolving Culture: Notes from the Scottish Republic -- not on kindle
books  amazon.com  find  17thC  18thC  Scotland  British_history  Glorious_Revolution-Scotland  1707_Union  landed_interest  aristocracy  feudalism  capitalism  political_economy  political_culture  economic_culture  1745_rebellion  Marxist  change-social  social_order  revolutions  bourgeoisie  Scottish_Enlightenment  Scottish_politics 
september 2014 by dunnettreader
Mark S. Mizruchi - Berle and Means Revisited: The Governance and Power of Large U.S. Corporations | JSTOR: Theory and Society, Vol. 33, No. 5 (Oct., 2004), pp. 579-617
In The Modern Corporation and Private Property (1932), Berle and Means warned of the concentration of economic power brought on by the rise of the large corporation and the emergence of a powerful class of professional managers, insulated from the pressure not only of stockholders, but of the larger public as well. In the tradition of Thomas Jefferson, Berle and Means warned that the ascendance of management control and unchecked corporate power had potentially serious consequences for the democratic character of the United States. Social scientists who drew on Berle and Means in subsequent decades presented a far more benign interpretation of the rise of managerialism, however. For them, the separation of ownership from control actually led to an increased level of democratization in the society as a whole. Beginning in the late 1960s, sociologists and other social scientists rekindled the debate over ownership and control, culminating in a series of rigorous empirical studies on the nature of corporate power in American society. In recent years, however, sociologists have largely abandoned the topic, ceding it to finance economists, legal scholars, and corporate strategy researchers. In this article, I provide a brief history of the sociological and finance/legal/strategy debates over corporate ownership and control. I discuss some of the similarities between the two streams of thought, and I discuss the reasons that the issue was of such significance sociologically. I then argue that by neglecting this topic in recent years, sociologists have failed to contribute to an understanding of some of the key issues in contemporary business behavior. I provide brief reviews of four loosely developed current perspectives and then present an argument of my own about the changing nature of the U.S. corporate elite over the past three decades. I conclude with a call for sociologists to refocus their attention on an issue that, however fruitfully handled by scholars in other fields, cries out for sociological analysis. -- downloaded pdf to Note
article  jstor  economic_history  intellectual_history  20thC  21stC  US_economy  US_politics  political_economy  political_sociology  economic_sociology  law-and-finance  law-and-economics  capitalism  corporations  MNCs  corporate_governance  corporate_finance  capital_markets  shareholder_value  shareholders  principal-agent  management  managerialism  corporate_citizenship  corporate_control_markets  corporate_law  M&A  business-and-politics  business-norms  power  power-asymmetric  status  interest_groups  lobbying  regulation  bibliography  downloaded  EF-add 
september 2014 by dunnettreader
Brayden G King and Nicholas A. Pearce - The Contentiousness of Markets: Politics, Social Movements, and Institutional Change in Markets | JSTOR: Annual Review of Sociology, Vol. 36 (2010), pp. 249-267
While much of economic sociology focuses on the stabilizing aspects of markets, the social movement perspective emphasizes the role that contentiousness plays in bringing institutional change and innovation to markets. Markets are inherently political, both because of their ties to the regulatory functions of the state and because markets are contested by actors who are dissatisfied with market outcomes and who use the market as a platform for social change. Research in this area focuses on the pathways to market change pursued by social movements, including direct challenges to corporations, the institutionalization of systems of private regulation, and the creation of new market categories through institutional entrepreneurship. Much contentiousness, while initially disruptive, works within the market system by producing innovation and restraining capitalism from destroying the resources it depends on for survival. -- still paywall -- 155 references-- see bibliography on jstor information page
article  jstor  paywall  social_theory  political_sociology  economic_sociology  markets-structure  markets_in_everything  Innovation  social_movements  conflict  political_economy  regulation  capitalism  environment  institutional_change  social_process  change-social  CSR  corporate_governance  corporate_citizenship  self-regulation  bibliography  EF-add 
september 2014 by dunnettreader
theAIRnet.org - Home
The Academic-Industry Research Network – theAIRnet – is a private, 501(c)(3) not-for-profit research organization devoted to the proposition that a sound understanding of the dynamics of industrial development requires collaboration between academic scholars and industry experts. We engage in up-to-date, in-depth, and incisive research and commentary on issues related to industrial innovation and economic development. Our goal is to understand the ways in which, through innovation, businesses and governments can contribute to equitable and stable economic growth – or what we call “sustainable prosperity”.
website  economic_growth  industry  technology  Innovation  green_economy  development  business  business-and-politics  capitalism  global_economy  public-private_partnerships  public_policy  public_health  public_goods  urban_development  health_care  IP  Labor_markets  wages  unemployment  education-training  sustainability  financial_system  corporate_citizenship  corporate_governance  corporate_finance  CSR  firms-theory  management  plutocracy  MNCs  international_political_economy  human_capital  OECD_economies  emerging_markets  supply_chains  R&D  common_good  1-percent  inequality  working_class  work-life_balance  workforce  regulation  regulation-harmonization  incentives  stagnation 
september 2014 by dunnettreader
Capitalist Revolutionary — Roger E. Backhouse, Bradley W. Bateman | Harvard University Press
The Great Recession of 2008 restored John Maynard Keynes to prominence. After decades when the Keynesian revolution seemed to have been forgotten, the great British theorist was suddenly everywhere. The NYT asked, “What would Keynes have done?” The FT wrote of “the undeniable shift to Keynes.” Le Monde pronounced the economic collapse Keynes’s “revenge.” Two years later, following bank bailouts and Tea Party fundamentalism, Keynesian principles once again seemed misguided or irrelevant to a public focused on ballooning budget deficits. In this readable account, Backhouse and Bateman elaborate the misinformation and caricature that have led to Keynes’s repeated resurrection and interment since his death in 1946. Keynes’s engagement with social and moral philosophy and his membership in the Bloomsbury Group of artists and writers helped to shape his manner of theorizing. Though trained as a mathematician, he designed models based on how specific kinds of people (such as investors and consumers) actually behave—an approach that runs counter to the idealized agents favored by economists at the end of the century. Keynes wanted to create a revolution in the way the world thought about economic problems, but he was more open-minded about capitalism than is commonly believed. He saw capitalism as essential to a society’s well-being but also morally flawed, and he sought a corrective for its main defect: the failure to stabilize investment. Keynes’s nuanced views, the authors suggest, offer an alternative to the polarized rhetoric often evoked by the word “capitalism” in today’s political debates.
books  kindle-available  intellectual_history  20thC  entre_deux_guerres  economic_theory  macroeconomics  Great_Depression  gold_standard  public_finance  unemployment  capitalism  moral_philosophy  political_economy  economic_culture  economic_reform  economic_policy  probability  behavioral_economics  microfoundations  neoclassical_economics  Keynes  Keynesianism  Great_Recession  investment 
september 2014 by dunnettreader
Fred Block, Margaret R. Somers - The Power of Market Fundamentalism: Karl Polanyi's Critique (2014) | Harvard University Press
What is it about free-market ideas that give them tenacious staying power in the face of such manifest failures as persistent unemployment, widening inequality, and the severe financial crises that have stressed Western economies over the past forty years? Fred Block and Margaret Somers extend the work of the great political economist Karl Polanyi to explain why these ideas have revived from disrepute in the wake of the Great Depression and World War II, to become the dominant economic ideology of our time. Polanyi contends that the free market championed by market liberals never actually existed. While markets are essential to enable individual choice, they cannot be self-regulating because they require ongoing state action. Furthermore, they cannot by themselves provide such necessities of social existence as education, health care, social and personal security, and the right to earn a livelihood. When these public goods are subjected to market principles, social life is threatened and major crises ensue. Despite these theoretical flaws, market principles are powerfully seductive because they promise to diminish the role of politics in civic and social life. Because politics entails coercion and unsatisfying compromises among groups with deep conflicts, the wish to narrow its scope is understandable. But like Marx’s theory that communism will lead to a “withering away of the State,” the ideology that free markets can replace government is just as utopian and dangerous.
books  kindle-available  social_theory  political_economy  Polanyi_Karl  markets_in_everything  capitalism  laisser-faire  neoliberalism  public_goods  civil_society  post-WWII  ideology 
september 2014 by dunnettreader
Coen Teulings, Richard Baldwin - Secular stagnation: Facts, causes, and cures – a new Vox eBook | vox 10 September 2014
The CEPR Press eBook on secular stagnation has been viewed over 80,000 times since it was published on 15 August 2014. -- Six years after the Crisis and the recovery is still anaemic despite years of zero interest rates. Is ‘secular stagnation’ to blame? Introduction - Coen Teulings and Richard Baldwin **--** I. Opening the debate -- 1. Reflections on the ‘New Secular Stagnation Hypothesis’, Laurence H Summers. **--** II. Three issues: Potential growth, effective demand, and sclerosis -- 2. Secular stagnation: A review of the issues, Barry Eichengreen -- 3. The turtle’s progress: Secular stagnation meets the headwinds, Robert J Gordon -- 4 Four observations on secular stagnation, Paul Krugman. -- 5. Secular joblessness, Edward L Glaeser. **--** III. Further on potential growth. -- 6. Secular stagnation? Not in your life - Joel Mokyr. -- 7 Secular stagnation: US hypochondria, European disease?, Nicholas Crafts. **--** IV. Further on effective demand. -- 8. A prolonged period of low real interest rates?, Olivier Blanchard, Davide Furceri and Andrea Pescatori. -- 9. On the role of safe asset shortages in secular stagnation, Ricardo J Caballero and Emmanuel Farhi. -- 10. A model of secular stagnation, Gauti B. Eggertsson and Neil Mehrotra. -- 11. Balance sheet recession is the reason for secular stagnation, Richard C Koo. -- 12. Monetary policy cannot solve secular stagnation alone
Guntram B Wolff. **--** V. Further on sclerosis -- 13. Secular stagnation: A view from the Eurozone, Juan F. Jimeno, Frank Smets and Jonathan Yiangou -- downloaded pdf to Note
books  etexts  kindle-available  economic_history  18thC  19thC  20thC  21stC  economic_theory  economic_growth  Great_Recession  stagnation  international_political_economy  capitalism  financialization  productivity  investment  technology  Labor_markets  unemployment  demand-side  supply-side  infrastructure  welfare_state  sovereign_debt  fiscal_policy  monetary_policy  central_banks  leverage  risk  uncertainty  macroeconomics  macroprudential_policies  international_monetary_system  global_economy  global_imbalance  interest_rates  profit  wages  Eurozone  US_economy  downloaded  EF-add 
september 2014 by dunnettreader
Alex Ross - The Naysayers: Walter Benjamin, Theodor Adorno, and the critique of pop culture | The New Yorker - September 15 2014
Benjamin, whose dizzyingly varied career skirted the edges of the Frankfurt collective, receives the grand treatment in “Walter Benjamin: A Critical Life” (Harvard), by Howard Eiland and Michael W. Jennings, who earlier edited Harvard’s four-volume edition of Benjamin’s writings. The Frankfurt School never presented a united front.... One zone in which they clashed was that of mass culture. Benjamin saw the popular arena as a potential site of resistance, from which left-leaning artists like Charlie Chaplin could transmit subversive signals. Adorno and Horkheimer viewed pop culture as an instrument of economic and political control, enforcing conformity behind a permissive screen. The “culture industry,” as they called it, offered the “freedom to choose what is always the same.” A similar split appeared in attitudes toward traditional forms of culture: classical music, painting, literature. Benjamin, in his resonant sentence linking culture and barbarism, saw the treasures of bourgeois Europe as spoils in a victory procession, each work blemished by the suffering of nameless millions. -- Between them, Adorno and Benjamin were pioneers in thinking critically about pop culture—in taking that culture seriously as an object of scrutiny, whether in tones of delight, dismay, or passionate ambivalence. The worst that one Frankfurt School theorist could say of another was that his work was insufficiently dialectical. The word “dialectic,” as elaborated in the philosophy of Hegel, causes endless problems for people who are not German, and even for some who are. In a way, it is both a philosophical concept and a literary style. --It “mediates,” to use a favorite Frankfurt School word. And it gravitates toward doubt, demonstrating the “power of negative thinking,” as Herbert Marcuse once put it. Such twists and turns come naturally in the German language, whose sentences are themselves plotted in swerves, releasing their full meaning only with the final clinching action of the verb.-- Although Marx was central to their thought, they were nearly as skeptical of Communist ideology as they were of the bourgeois mind-set that Communism was intended to supplant. “At the very heart of Critical Theory was an aversion to closed philosophical systems,” Martin Jay writes, in his history “The Dialectical Imagination” (1973).
books  biography  intellectual_history  20thC  entre_deux_guerres  Germany  Frankfurt_School  critical_theory  Benjamin  Adorno  cultural_critique  mass_culture  high_culture  aesthetics  literary_history  lit_crit  art_history  music_history  cinema  dialectic  bourgeoisie  capitalism  culture_industries  EF-add 
september 2014 by dunnettreader
Structuralist Response to Piketty's Capital in the Twenty-First Century | INET
New School Economist Lance Taylor released a symposium of literature on Thomas Piketty’s Capital in the Twenty-First Century in conjunction with the INET-sponsored research project on Economic Sustainability, Distribution and Stability. It includes papers offering a structuralist response to Piketty's explanation of inequality and advancing alternative theories. **--** Thomas Piketty’s Capital in the Twenty-First Century: Introduction to a Structuralist Symposium - Lance Taylor (The New School) *--* Capitalism, Inequality and Globalization: Thomas Piketty’s Capital in the Twenty-First Century - Prabhat Patnaik (Jawaharlal Nehru University, New Delhi *--* Elasticity of substitution and social conflict: a structuralist note on Piketty’s Capital in the 21st Century - Nelson Barbosa-Filho (São Paulo School of Economics) *--* Piketty’s Elasticity of Substitution: A Critique - Gregor Semieniuk (The New School) *--* The Triumph of the Rentier? Thomas Piketty vs. Luigi Pasinetti and John Maynard Keynes - Lance Taylor (The New School -- downloaded pdf to Note
books  Piketty  economic_history  institutional_economics  class_conflict  rentiers  inequality  globalization  capital  capitalism  downloaded  EF-add 
september 2014 by dunnettreader
JW Mason - The Slack Wire: Piketty and the Money View - September 2014
All the empirical material in the book relates to stocks and flows of money. But when he turns to explain the patterns he finds in this data, he does it in terms of physical inputs to physical production. The money wealth present in a country is assumed to correspond to the physical capital goods, somehow converted to a scalar quantity. And the incomes received by wealth owners is assumed to correspond to a physical product somehow attributable to these capital goods. But the production processes that are supposed to explain these shifts are described without any data at all, purely deductively. You would think that if Piketty believed that the share of property income in total income depends on physical production technologies, returns to scale, depreciation, etc., then at least half the book would be taken up with technological history. In fact, of course, these topics are not discussed at all. Terms like “production” and “depreciation” are black boxes, pure mathematical formalism. -- Unfortunately, discussion of the book has been almost entirely about the irrelevant formalism. I think that is why the conversation has been so noisy yet advanced so little. -- the disconnect between the two different Pikettys shows, in a negative way, why what I've been calling the money view is so important. The historical data assembled in Capital in the 21st Century is a magnificent accomplishment and will be drawn on by economic historians for years to come. Many of the concrete observations he makes about this material are original and insightful. But all of this is lost when translated into Piketty's preferred theoretical framework. To make sense of the historical evolution of money payments and claims, we need an approach that takes those payments and claims as objects of study in themselves.
books  Piketty  wealth  capitalism  capital  macroeconomics  economic_theory  economic_models  economic_growth  money  investment  investors  profit  technology  production  productivity  political_economy  financial_economics  financial_system  EF-add 
september 2014 by dunnettreader
Squarely Rooted - I Wrote Way Too Much About “Capital in the Twenty-First Century” — Medium - July 2014
Very thought provoking re changes in the composition and returns to capital -- Depreciation is the great systemic regulator — absent productivity/technology growth, depreciation is an absolute limit on our ability to accumulate capital ad infinitum. Or is it? Depreciation is a law of the physical world, and therefore a limit on the accumulation of physical capital, which many people intensely associate with “capital” in their minds. But it is extremely important not to do so in this context, as Piketty uses capital synonymously with all wealth. And the nature of capital itself is changing What does this mean? It means that the focus on capital as stuff is fundamentally off-base — capital, at least as defined by Piketty, is at least to some degree detached from stuff. This makes more sense when you look at the Q-ratio of many of today’s most valuable firms [Apple et al]. These are all vastly above not just the current national average but the highest the national average has ever been, and by an astonishing amount. But investors believe that these tech companies, which have rapidly become a vast part of the economy, are worth way, way more than the sum of their parts. -- ... all these claims [against assets] are, on a fundamental level, determined by legal and political systems that are mutable by humans. They are not laws of nature. This is most clear in Piketty’s discussion of “Rhenish capitalism,” specifically in the curious phenomenon of the relatively-low levels of German capital relative to income - which vanishes when you compare book value instead of market value of capital - overwhelmingly a Tobin’s Q issue. -- Land, in fact, may be the key to explaining why the returns to capital decline much more slowly than models with traditional assumptions would predict. If you confuse “capital” as Piketty defines it with “machines,” even subconsciously, this would make much less sense. -- Oh, and one last thing — land doesn’t depreciate.
books  reviews  Piketty  economic_history  economic_theory  economic_models  economic_growth  investment  profit  capitalism  inequality  rentiers  landowners  capital  wealth  sovereign_wealth_funds  plutocracy  1-percent  capital_markets  investors  manufacturing  technology  EF-add 
september 2014 by dunnettreader
Matias Vernengo NAKED KEYNESIANISM: Manufacturing matters - Jan 2013
Chart of distribution of manufacturing capacity over the centuries pre and post Industrial Revolution from Robert Allen -- Note that the West, narrowly defined as England the rest of Western Europe, what was to become the US and Russia (called for the whole period USSR) had a share of less than 20% in 1750, it had expanded to more than 80% on the eve of WW-I. If you add Australia, Canada and Latin America (which are all in Rest of the World, but are what Maddison would call Western offshoots), the numbers are even larger. Most of the changes were associated to the squeeze of China. And most of the recent changes are associated with expansion of China and East Asia (which includes Japan). We have not gone full circle, by the way. In other words, the process of development (or indutrialization in the center) went hand in hand with the process of underdevelopment (deindustrialization) in the periphery, and old lesson from a little book by Osvaldo Sunkel which is still worth reading. [1972 study of Latin American development and underdevelopment from 1750, tracking exports, FDI etc]
economic_history  economic_theory  economic_growth  development  emerging_markets  Latin_America  Great_Divergence  China  India  Industrial_Revolution  industrialization  manufacturing  exports  British_history  capitalism  18thC  19thC 
september 2014 by dunnettreader
Anne Mayhew, review - Laurence Shute, John Maurice Clark: A Social Economics for the Twenty-First Century | EH.Net, H-Net Reviews. November, 1997
[F]rom Clark's earliest work through his post-World War II comments on the formalization of Keynes' work, he sought a "non-euclidean" economics that would be more "scientific" than most economic analysis in fact was. In a 1924, essay on "The Socializing of Theoretical Economics," Clark argued that it was "unscientific" to exclude relevant evidence. He wrote: "... comprehensiveness is scientific, even if it involves some sacrifice of other qualities for which science likes to strive" . In a critique of a 1949 essay by Paul Samuelson, Clark repeats the theme by complaining of ... what happens to the Keynesian theory when it is simplified by isolating the central mathematical formula and its corollaries from the context of factors that do not lend themselves to this treatment, and which Keynes handled in 'literary' fashion ... . -- Clark (and his fellow Institutionalists) made major contributions to what was then the "mainstream" of American economics during a period of lively innovation. During the early 1930s Clark had already developed both multiplier and accelerator concepts and he welcomed Keynes' "income-flow analysis." However, in the early 1940s he was worrying--in print and in exchanges with Keynes--that this analysis would be undiscriminatingly applied, and there were problems with sole reliance on deficit spending for stabilization. Clark's concern was a wider variety of stabilization tools--including attention to the legal arrangement of costs--would be required. In his last major work, Competition as A Dynamic Process (1961), Clark returned to some of the issues with which he began his career. Shute stresses that this work was not the "major general treatise" that Clark had once hoped to write, but rather an attempt to develop a practical notion of "workable competition" appropriate for analysis and policy guidance in a dynamic economy. Clark was realist enough to worry that this work would not be well received [inadequate formalism and assumptions they expected from "theory"]
books  reviews  intellectual_history  20thC  entre_deux_guerres  social_sciences-post-WWII  economic_theory  economic_history  institutional_economics  industry  production  investment  costs  labor  Labor_markets  capital  capitalism  business_cycles  Keynes  Keynesianism  macroeconomics  Great_Depression  competition  prices 
september 2014 by dunnettreader
Leo E. Strine , Nicholas Walter - Conservative Collision Course?: The Tension between Conservative Corporate Law Theory and Citizens United (Cornell Law Review, Forthcoming) - August 1, 2014 :: SSRN
Leo E. Strine Jr. - Supreme Court of Delaware; Harvard Law School; University of Pennsylvania Law School -- Nicholas Walter, Yale University -- Harvard Law School John M. Olin Center Discussion Paper No. 788 -- One important aspect of Citizens United has been overlooked: the tension between the conservative majority’s view of for-profit corporations, and the theory of for-profit corporations embraced by conservative thinkers. This article explores the tension between these conservative schools of thought and shows that Citizens United may unwittingly strengthen the arguments of conservative corporate theory’s principal rival. Citizens United posits that stockholders of for-profit corporations can constrain corporate political spending and that corporations can legitimately engage in political spending. Conservative corporate theory is premised on the contrary assumptions that stockholders are poorly-positioned to monitor corporate managers for even their fidelity to a profit maximization principle, and that corporate managers have no legitimate ability to reconcile stockholders’ diverse political views. Because stockholders invest in for-profit corporations for financial gain, and not to express political or moral values, conservative corporate theory argues that corporate managers should focus solely on stockholder wealth maximization and non-stockholder constituencies and society should rely upon government regulation to protect against corporate overreaching. Conservative corporate theory’s recognition that corporations lack legitimacy in this area has been strengthened by market developments that Citizens United slighted: that most humans invest in the equity markets through mutual funds under section 401(k) plans, cannot exit these investments as a practical matter, and lack any rational ability to influence how corporations spend in the political process. -- Keywords: Corporate governance, political spending, Citizens United, conservative corporate theory, regulatory externalities, lobbying, profit maximization, constitutional law, election law, labor law
article  SSRN  SCOTUS  legal_history  legal_system  legal_theory  corporate_law  corporate_governance  principal-agent  management  shareholders  shareholder_value  campaign_finance  lobbying  elections  labor_law  US_constitution  constitutional_law  public_policy  interest_groups  oligarchy  rent-seeking  investors  savings  capitalism  capital_markets  downloaded  EF-add 
september 2014 by dunnettreader
Steve Denning - The Copernican Revolution In Management - Forbes - July 2013
Today’s hierarchical bureaucracies are so out-of-step with the current marketplace in which power has shifted from seller to buyer that we cannot wait for the results of definitive long-term scientific studies. As Don Tapscott said in this column last week, “The fundamental problem facing all our institutions today, including government, is not related to conjunctural economic changes. It’s not a business cycle that we are going through. It’s not a cyclical change. It’s a secular change. We are at a punctuation point in human history where the industrial age and institutions have finally come to their logical conclusion. They have essentially run out of gas.” The shareholder value theory is thus only a small part of the problem. It is part of a web of obsolete management ideas that no longer fit the 21st Century marketplace. As noted below, other once-sacred truths in management are part of the same failing paradigm. Absorbing even a couple of these fundamental shifts will take time. Absorbing them all, and acquiring the skills and attitudes necessary to implement them, will not be easy or quick. -- large number of links to recent articles, papers etc
globalization  global_economy  business  management  corporate_governance  technology  networks-business  hierarchy  shareholder_value  capital_markets  investors  financialization  Labor_markets  Innovation  capitalism  executive_compensation  1-percent  inequality  links 
august 2014 by dunnettreader
Steve Denning - HBR Blows The Lid Off C-Suite Over-Compensation - Forbes - Feb 2012
At the heart of the disaster, according to Desai, is market-based compensation—the idea that the C-Suite and financial managers should be compensated by the issuance of stock. The idea was intended to align managers’ interests with those of shareholders, but the result has been the opposite. According to Desai, the idea is “intellectually flawed” and “a foundational myth.” That’s because in implementing market-based compensation, there is a failure to distinguish results due to sheer luck (beta) from the results due to skill (alpha). Moreover those who should be monitoring compensation—pension funds, mutual funds and foundations—have not only been asleep at the wheel: they have been actively complicit in the debacle. They have “readily outsourced performance evaluation and compensation in order to avoid their obligation to make tough decisions and bring pay into line with performance.” “The combination of a foundational myth and absent monitors over the past 2 decades gave rise to harmful incentives, asymmetrical payoffs and windfall compensation levels… The result has been the creation of perhaps the largest and most pernicious bubble of all: a giant financial incentive bubble.” This in turn results in “the twin crises of American capitalism: repeated governance failures, which lead many to question the stewardship abilities of American managers and investors and rising income inequality.” Even worse, the skewed incentives and huge unearned windfalls have given rise to righteous but unwarranted belief in entitlement: the individuals “now consider themselves entitled to such rewards. Until the financial incentives bubble is popped, we can expect mis-allocations of financial, real and human capital to continue.” -- Desai is pessimistic re reforms - Denning continues with things Desai left out
capitalism  management  executive_compensation  financialization  corporate_governance  capital_markets  shareholders  shareholder_value  investors  norms-business  1-percent  inequality 
august 2014 by dunnettreader
Looming Ahead - 5 Nobel Prize winners discuss their "biggest problem" of the future global economy -- Finance & Development, September 2014, Vol. 51, No. 3
Five Nobel Prize winners discuss what they each see as the biggest problem facing the global economy of the future -- George Akerlof -climate change; Krugman - demand side; Solow - secular stagnation in developed economies (if that happens, will and means to solve even catastrophic problems like climate won't be forthcoming) Michael Spence (inclusiveness of global economic development to allow adjustments that keep benefiting rich countries but extend beneficiaries of growth - stress on getting basics right like managing limited natural resources): Stiglitz - inequality -- downloaded pdf to Note
economic_theory  global_economy  political_economy  climate  stagnation  OECD_economies  emerging_markets  capitalism  demand  Great_Recession  Labor_markets  inequality  global_governance  international_political_economy  downloaded  EF-add 
august 2014 by dunnettreader
Ahmed White - The Wagner Act on Trial: The 1937 'Little Steel' Strike and the Limits of New Deal Reform (May 29, 2014) :: SSRN
University of Colorado Law School -- The National Labor Relations Act of 1935, or Wagner Act, played a crucial role in shaping the New Deal and eventually transforming the economic, political, and legal foundations of modern America. Although many aspects of the statute’s history, including its relationship to the rise of industrial unionism and the epic struggle to secure its constitutionality, have been well told by historians and legal scholars, key elements of its story remain obscured by misconceptions, oversight, and outright myth. Not least among these areas of uncertainty is how the new law actually functioned in the months and years immediately after the Supreme Court upheld its constitutionality, and what its fate in this crucial time says about the nature of the New Deal itself. This article undertakes to shed light on these questions by unfolding the history of one of the most important events in the Second New Deal period: the “Little Steel” Strike of 1937. Drawing on a host of sources, including five major archival collections, this article tells the story of this dramatic and violent episode, including its legal history. Presenting the strike as a key test of the Wagner Act and a critical bellwether of the New Deal, the article documents not only the virtues of new regime in labor rights just as it emerged from the shadow of unconstitutionality, but also congenital shortcomings in the labor law that have undermined workers’ rights ever since. In a further challenge to conventional narratives of the period, the story of the strike exposes the remarkable degree to which the power of the business community survived, relatively undiminished, the Wagner Act and the political changes that accompanied it. Moreover, giving credence to a broader literature on New Deal law and policy, the article presents the strike and litigation surrounding it as proof of the continuing weakness of the New Deal and as key moments in the conservative turn that marked course of reform in the late 1930s.
paper  SSRN  US_history  20thC  entre_deux_guerres  New_Deal  labor  labor_law  labor_history  unions  big_business  SCOTUS  power-asymmetric  capitalism  public_disorder  reform-legal  reform-economic  downloaded  EF-add 
august 2014 by dunnettreader
Alan Macfarlane, The Invention of the Modern World (2014) | Amazon.com:
From the preface: 'This is a book which synthesizes a lifetime of reflection on the origins of the modern world. Through forty years of travel in Europe, Australia, India, Nepal, Japan and China I have observed the similarities and differences of cultures. I have read as widely as possible in both contemporary and classical works in history, anthropology and philosophy.' - Prof Macfarlane is also the author of The Culture of Capitalism, The Savage Wars of Peace, The Riddle of the Modern World and The Making of the Modern World, among many others. - This is the third book published by Odd Volumes, the imprint of The Fortnightly Review. -- only pbk
books  amazon.com  modernity  modernity-emergence  anthropology  cultural_history  economic_history  political_economy  Great_Divergence  capitalism 
august 2014 by dunnettreader
Joshua Clover, review essay - Autumn of the Empire [post the Great Recession] | The Los Angeles Review of Books July 2011
Books discussed - Richard Duncan, The Dollar Crisis: Causes, Consequences, Cures *--* Robert Brenner, The Economics of Global Turbulence *--* Giovanni Arrighi, The Long Twentieth Century: Money, Power and the Origins of Our Times *--* Giovanni Arrighi, Adam Smith in Beijing *--*--*--* All three authors are heterodox from view of what passes for informed discourse about economic theory or political economy - by the conclusion of the essay, Giovanni Arrighi's longue-durée of transitions of a succession of capitalist empires becomes the vantage point for discussions of how we got to the Great Recession as well as where we have to start thinking about another way of understanding the geopolitical dynamics of global capitalism (or the global capitalist dynamics of geopolitics) Other TAGGED AUTHORS - Jill Ciment, Paul Krugman, Fernand Braudel, Joseph Schumpeter, John Maynard Keynes, Karl Marx, T.S. Eliot *--* Other TAGGED BOOKS - Reinhardt and Rogoff, This Time It's Different, *--* Michael Lewis, The Big Short: Inside the Doomsday Machine
books  reviews  global_economy  globalization  international_political_economy  financialization  financial_crisis  economic_history  geopolitics  empires  empire-and_business  world_history  world_systems  cycles  15thC  16thC  17thC  18thC  19thC  20thC  Genoa  city_states  Dutch_Revolt  Dutch  British_Empire  US-China  US-empire  imperialism  imperial_overreach  trade  trading_companies  production  productivity  capitalism  competition  profit  investment  international_monetary_system  translatio_imperii  Annales  bubbles  labor  off-shoring  investors  American_exceptionalism  EF-add 
august 2014 by dunnettreader
Robert M. Solow, review essay - Hayek, Friedman, and the Illusions of Conservative Economics | New Republic - Dec 2012
Review essay of The Great Persuasion: Reinventing Free Markets since the Depression By Angus Burgin -- starting in late 1930s - Good Hayek vs Bad Hayek and lots on Uncle Milton - Solow doesn't think much of the influence of the Mont Pèlerin Society and sees a lot of contingency in the political rise of Thatcher and Reagan -- but agrees re Friedman's effective sales job of anti-intellectual and anti-empirical extreme dogma
books  reviews  intellectual_history  political_history  20thC  entre_deux_guerres  post-WWII  conservatism  laisser-faire  right-wing  Hayek  Friedman_Milton  mixed_economy  capitalism  EF-add 
august 2014 by dunnettreader
Richard Marshall interview with Johanna Oksala - Foucault’s freedom » 3:AM Magazine - August 2014
Johanna Oksala is a political philosopher who broods on Foucault, thinks that its time people stopped thinking in terms of continental vs analytic, thinks about Foucault and freedom, on Foucault, politics and violence, on Chantal Mouffe’s compelling ideas,on state violence, on why neoliberal rationality must be resisted, and on political spirituality. She’s out there making windows where there were once walls…
books  political_philosophy  Foucault  freedom  subject  neoliberalism  capitalism  revolutions  Iran  violence  Hayek  Mouffe  EF-add 
august 2014 by dunnettreader
John P. Diggins - Dos Passos and Veblen's Villains | JSTOR: The Antioch Review, Vol. 23, No. 4 (Winter, 1963-1964), pp. 485-500
Explains apparent shift from radical Left to Goldwater Right as consistent champion of productivist classes - craftsmen, engineers, and labor generally - first against Veblen's villains, the captains of finance capital, the PR men, and the managerialist ethos driven by profit at the expense of productive values of quality, know-how etc -- post WWII, Dos Passos added big government and labor bosses to his villains
article  jstor  19thC  20thC  US_history  US_society  entre_deux_guerres  post-WWII  intellectual_history  political_culture  political_economy  social_order  finance_capital  production  labor  industry  profit  craftsmanship  capitalism  Veblen 
august 2014 by dunnettreader
Chris Dillow - Stumbling and Mumbling: Am I a Tory? - July 2014
Am I a Tory, or is Jesse Norman a socialist? I'm prompted to ask because the other day he reminded me of his superb lecture (pdf) on Burke and Oakeshott. What I mean is that, as Jesse says, both men, in their different ways, supported tradition against rationalism. This anti-rationalism, says Jesse, is "one of the central intellectual roots of conservatism through the ages." -- Jesse continues: Rationalism can be seen in totalitarian societies, which seek to capture and organize the staggeringly diverse potential of human beings, and frame it on some Procrustean bed". It certainly can. But for me, managerialist rationalism is also totalitarian, in the sense both that it wants to extend to places such as universities where it is unwarranted, and that it seeks to suppress diversity in favour of conformist careerism. So, it seems that me, Jesse, Burke and Oakehott have much in common. And, indeed, Jesse is well aware (pdf) that crony capitalism and excessive CEO pay are inconsistent with conservative tradition he praises. -- downloaded pdfs
political_economy  political_philosophy  political_culture  conservatism  Tories  Burke  Oakeshott  MacIntyre  managerialism  totalitarian  ideology  capitalism  power  crony_capitalism  corporate_governance  rationalist 
july 2014 by dunnettreader
Hyman P. Minsky - Review of Susan Strange, "Casino Capitalism" (1987) | Bard Archive
C Description

A Review of: Susan Strange. Casino Capitalism. Oxford and New York, NY: Blackwell, 1986, pp. 1883-1885, Book Reviews, Journal of Economic Literature, Vol. XXV, Dec. 1987. -- Recommended Citation. - Minsky, Hyman P. Ph.D., "Review of "Casino Capitalism"" (1987). Hyman P. Minsky Archive. Paper 158. - http://digitalcommons.bard.edu/hm_archive/158 -- downloaded pdf to Note
books  bookshelf  reviews  Minsky  international_political_economy  international_finance  capitalism  capital_markets  FX  international_economics  international_monetary_system  downloaded 
july 2014 by dunnettreader
Jeremy Waldron - Socioeconomic Rights and Theories of Justice (2010) :: SSRN
NYU School of Law, Public Law Research Paper No. 10-79 -- This paper considers the relation between theories of justice (like John Rawls’s theory) and theories of socio-economic rights. In different ways, these two kinds of theory address much the same subject-matter. But they are quite strikingly different in format and texture. Theories of socio-economic rights defend particular line-item requirements: a right to this or that good or opportunity (e.g., housing, health care, education, social security). Theories of justice tend to involve a more integrated normative account of a society’s basic structure (though they differ considerably among themselves in their structure). So how exactly should we think about their relation? The basic claim of the paper is that we should strive to bring these two into closer relation with one another, since it is only in the context of a theory of justice that we can properly assesses the competition that arises between claims of socio-economic right and other claims on public and private resources. -- Number of Pages in PDF File: 31 -- Keywords: Nozick, Rawls, justice, human rights, rights, scarcity, socioeconomic rights
paper  SSRN  political_philosophy  moral_philosophy  philosophy_of_law  liberalism  libertarianism  social_order  norms  moral_economy  poverty  human_rights  inequality  Rawls  Nozick  property  common_good  commons  capitalism  political_economy  justice  power-asymmetric 
july 2014 by dunnettreader
Forum - “Deirdre McCloskey and Economists’ Ideas about Ideas” (July, 2014) - Online Library of Liberty
Deirdre McClosky is over the halfway point of her 4 volume work on The Bourgeois Era. Two volumes have already appeared, Bourgeois Virtues (2006) and Bourgeois Dignity (2010), and a third is close to appearing [2015]. This Liberty Matters online discussion will assess her progress to date with a Lead Essay by Don Boudreaux and comments by Joel Mokyr and John Nye, and replies to her critics by Deirdre McCloskey. The key issue is to try to explain why “the Great Enrichment” of the past 150 years occurred in northern and western Europe rather than elsewhere, and why sometime in the middle of the 18th century. Other theories have attributed it to the presence of natural resources, the existence of private property and the rule of law, and the right legal and political institutions. McCloskey’s thesis is that a fundamental change in ideas took place which raised the “dignity” of economic activity in the eyes of people to the point where they felt no inhibition in pursuing these activities which improved the situation of both themselves and the customers who bought their products and services.
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july 2014 by dunnettreader
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