dunnettreader + inequality   202

Against Max Sawicky!
Max Sawicky has a piece in Jacobin , giving grief to Brink Lindsey and Steve Teles’ new book on rent seeking, The Captured Economy , and arguing that Dean…
political_economy  regulatory_capture  rent-seeking  demo-libertarians  inequality  from instapaper
december 2017 by dunnettreader
Jeffrey Edward Green - Rawls and the Forgotten Figure of the Most Advantaged: In Defense of Reasonable Envy toward the Superrich (2013) | American Political Science Review on JSTOR
This article aims to correct the widespread imbalance in contemporary liberal thought, which makes explicit appeal to the "least advantaged" without parallel attention to the "most advantaged" as a distinct group in need of regulatory attention. Rawls's influential theory of justice is perhaps the paradigmatic instance of this imbalance, but I show how a Rawlsian framework nonetheless provides three justifications for why implementers of liberal justice—above all, legislators—should regulate the economic prospects of a polity's richest citizens: as a heuristic device for ensuring that a system of inequalities not reach a level at which inequalities cease being mutually advantageous, as protection against excessive inequalities threatening civic liberty, and as redress for a liberal society's inability to fully realize fair equality of opportunity with regard to education and politics. Against the objection that such arguments amount to a defense of envy, insofar as they support policies that in certain instances impose economic costs on the most advantaged with negative or neutral economic impact on the rest of society, I attend to Rawls's often overlooked distinction between irrational and reasonable forms of envy, showing that any envy involved in the proposed regulation of the most advantaged falls within this latter category. - downloaded via iphone to dbox
politics-and-money  political_participation  inequality-wealth  regulatory_capture  political_philosophy  political_culture  tax_havens  Early_Republic  inequality  estate_tax  intellectual_history  inheritance  republicanism  Plato-Republic  elites-political_influence  Jefferson  Harrington  crony_capitalism  Europe-Early_Modern  fairness  article  Aristotle  social_capital  social_theory  Rawls  social_democracy  Machiavelli  Plato  inequality-opportunity  jstor  bibliography  ancient_Rome  regulation  justice  liberalism  egalitarian  regulatory_avoidance  interest_groups  legitimacy  deliberative_democracy  political_history  class_conflict  downloaded  education-elites  social_order  elites-self-destructive  Roman_Republic  ancient_Greece  republics-Ancient_v_Modern 
july 2017 by dunnettreader
(URL is pdf) Clark, Cummins, Hao & Vidal - Surnames: a New Source for the History of Social Mobility (2015)
Surnames: a New Source for the History of Social Mobility, Explorations in Economic History (2015)
Gregory Clark, Neil Cummins, Yu Hao, Dan Diaz Vidal
This paper explains how surname distributions can be used as a way to measure rates of social mobility in contemporary and historical societies. This allows for estimates of social mobility rates for any population for which we know just two facts: the distribution of surnames overall, and the distribution of surnames among some elite or underclass. Such information exists, for example, for England back to 1300, and for Sweden back to 1700. However surname distributions reveal a different, more fundamental type of mobility than that conventionally estimated. Thus surname estimates also allow for measuring a different aspect of social mobility, the underlying average social status of families, but the aspect that matters for mobility of social groups, and for families across multiple generations.
KEYWORDS: Social Mobility, intergenerational correlation, status inheritance
Downloaded via iPhone to DBOX
demography  elites  ethnic_groups  social_history  inequality  article  statistics  surnames  mobility  downloaded 
february 2017 by dunnettreader
Brad DeLong - link to WP - Robert Allen (2004): Progress and Poverty in Early Modern Europe
Robert Allen (2004): Progress and Poverty in Early Modern Europe: "At the end of the middle ages, the urban, manufacturing core of Europe was on the Mediterranean with an important offshoot in Flanders... -- downloaded via iPhone to DBOX
improvement  development  urbanization  social_history  Europe-Early_Modern  paper  economic_history  inequality  poverty  progress  downloaded  trade  economic_growth 
january 2017 by dunnettreader
Elena Seghezza - Fiscal capacity and the risk of sovereign debt after the Glorious Revolution: A reinterpretation of the North–Weingast hypothesis (2015) — ScienceDirect
European Journal of Political Economy, June 2015, Vol.38:71–81, doi:10.1016/j.ejpoleco.2014.12.002
Dept. of Economics, University of Genoa, Via Vivaldi 5, 16126 Genova, Italy
Several explanations have been given to account for the fact that, in contrast to the claim made by North and Weingast (1989), the decline in interest rates on British sovereign debt did not occur until several years after the Glorious Revolution in 1688. This paper puts forward the hypothesis that the decline in the risk premium on Britain's sovereign debt was due to the significant increase in excise duties in the early part of the eighteenth century. This increase was possible for two reasons. On the one hand, with the Glorious Revolution, parliament no longer had reason to fear that the King would strengthen his political power due to the availability of more fiscal revenue. On the other hand, the new excise taxes were borne mostly by the poor, that is a social class not represented in parliament. The delay in reducing the interest rate on British sovereign debt, following the Glorious Revolution, was, therefore, due to the length of time needed to increase and improve the fiscal bureaucracy responsible for the collection of excise duties.
Keywords -- Glorious Revolution Fiscal capacity Sovereign debt Interest rates
article  paywall  political_economy  institutional_economics  North-Weingast  Glorious_Revolution  fiscal-military_state  fiscal_space  tax_policy  tax_collection  bureaucracy  sovereign_debt  interest_rates  Parliament  Parliamentary_supremacy  interest_groups  inequality  excise  lower_orders  taxes-consumption  landed_interest 
december 2016 by dunnettreader
Thomas Palley » A Theory of Economic Policy - Lock-in and Lock-out via Hysterisis (WP October 2016)
A Theory of Economic Policy Lock-in and Lock-out via Hysterisis: Rethinking Economists’ Approach to Economic Policy
This paper explores lock-in and lock-out via economic policy. It argues policy decisions may near-irrevocably change the economy’s structure, thereby changing its performance. That causes changed economic outcomes concerning distribution of wealth, income and power, which in turn induces locked-in changes in political outcomes. That is a different way of thinking about policy compared to conventional macroeconomic stabilization theory. The latter treats policy as a dial which is dialed up or down, depending on the economy’s state. Lock-in policy is illustrated by the euro, globalization, and the neoliberal policy experiment. - downloaded via iPhone to DBOX
inequality-wealth  political_economy  inequality  neoliberalism  downloaded  economic_policy  elites-political_influence  distribution-wealth  macroeconomics  paper  path-dependency  business_cycles 
october 2016 by dunnettreader
Adair Turner - The Skills Delusion | Project Syndicate - Oct 2016
LONDON – Everybody agrees that better education and improved skills, for as many people as possible, is crucial to increasing productivity and living standards…
economic_growth  economic_models  economic_history  inequality  social_mobility  education-higher  education-training  skills  Labor_markets  wages  student_debt  from instapaper
october 2016 by dunnettreader
Kevin O'Rourke - The Davos Lie (April 2016) - Critical Quarterly - Wiley Online Library
Economists can tut-tut all they want about working-class people refusing to buy into the benefits of globalisation, but as social scientists we surely need to think about the predictable political consequences of economic policies. Too much globalisation, without domestic safety nets and other policies that can adequately protect globalisation's losers, will inevitably invite a political backlash. Indeed, it is already upon us. - downloaded to Tab S2
article  downloaded  international_political_economy  globalization  trade-theory  trade-policy  trade-compensation  inequality  outsourcing  working_class  development  development-impact  populism  political_economy  political_order  stability 
august 2016 by dunnettreader
Why Tax Havens Are Political and Economic Disasters - The Atlantic - July 2016
In the early 1990s, economists coined the term " the resource curse " to describe a paradox they observed in countries where valuable natural resources were…
Instapaper  tax_havens  development  corruption  politics-and-money  financial_sector_development  resource_curse  capital_flows  inequality  from instapaper
july 2016 by dunnettreader
Maximillian Kasy - Empirical Research on Economic Inequality -- AN OPEN ONLINE TEXTBOOK
AN OPEN ONLINE TEXTBOOK BY MAXIMILIAN KASY -- Welcome to
Empirical Research on Economic Inequality -- This textbook developed out of a class I taught at Harvard, and subsequently at IHS Wien and at the University of Zurich. The purpose of this textbook is twofold. First, to teach you about economic inequality, some of its causes, and how it is affected by policy. Second, to teach you econometric methods that have been used in the literature on economic inequality, so as to help you conduct your own research on these topics.
website  etexts  inequality  inequality-wealth  inequality-opportunity  inequality-global  econometrics  economic_sociology  justice  discrimination  distribution-income  distribution-wealth  gender  racism  1-percent  labor  unions  diversity 
july 2016 by dunnettreader
Paul Slack - Material Progress and the Challenge of Affluence in Seventeenth-Century England (2009)| JSTOR
Material Progress and the Challenge of Affluence in Seventeenth-Century England
Paul Slack
The Economic History Review
New Series, Vol. 62, No. 3 (Aug., 2009), pp. 576-603
Downloaded via iPhone to Sente
trade-policy  British_foreign_policy  17thC  British_Empire  inequality  article  agriculture  moral_economy  British_history  economic_growth  transport  downloaded  labor  trade  property_rights  progress  colonialism  mercantilism  ports  jstor  political_arithmetick  Sente  political_economy  improvement  economic_history  infrastructure 
april 2016 by dunnettreader
What It's Worth - Building a Strong Financial Future
Americans everywhere struggle to build strong financial futures for themselves and their families. The new book, What It's Worth, provides a roadmap for what families, communities and our nation can do to move forward on the path to financial well-being.
Collection of essays by people working on financial inclusion, asset-building etc. - downloaded via iPhone to DBOX
gig_economy  education-finance  philanthropy  credit  usury  financial_innovation  US_society  inequality-wealth  local_government  pensions  corporate_citizenship  mobility  banking  wages  health_care  access_to_finance  housing  financial_regulation  report  social_entrepreneurs  poverty  downloaded  welfare  US_economy  US_politics  families  mortgages  segregation  inequality  NBFI  unemployment  US_government 
april 2016 by dunnettreader
Les usages de la peur dans la mondialisation: Entretien avec Zygmunt Bauman - Desaunay, Fœssel and Padis | JSTOR - Esprit 2005
Les usages de la peur dans la mondialisation: Entretien avec Zygmunt Bauman -- Zygmunt Bauman, Cécile Desaunay, Michaël Fœssel and Marc-Olivier Padis, Esprit, No. 316 (7) (Juillet 2005), pp. 71-98 -- Loin d'uniformiser la planète, la mondialisation provoque un morcellement des espaces et une montée de la peur. Comment, dans ces conditions, penser une mondialisation positive qui ne signifierait pas l'abandon de la politique sociale, pensée jusqu'ici dans le cadre de l'État-nation? -- downloaded pdf to Note
interview  jstor  political_economy  globalization  French_intellectuals  French_language  EU_governance  European_integration  global_governance  universalism  fragmentation  competition  status  hierarchy  inequality  inequality-global  nation-state  imagined_communities  welfare_state  neoliberalism  solidarity  social_theory  economic_sociology  economic_culture  social_order  social_democracy  downloaded 
march 2016 by dunnettreader
Branko Milanovic - Inequality: the structural aspects - February 2016
Despite the unprecedented attention that income and wealth inequality has received in this year’s presidential campaign in the United States and in several…
Instapaper  inequality-global  inequality-wealth  inequality-opportunity  inequality  political_economy  polarization  economic_growth  economic_history  labor_share  Latin_America  mobility  from instapaper
february 2016 by dunnettreader
David Cosandey - Et aujourd'hui, sommes-nous en progrès ou en déclin ? (2011) - Cairn.info
Né en 1965, David Cosandey est docteur en physique théorique. Il est actif dans la gestion du risque financier en Suisse. Il a publié Le Secret de l’Occident, vers une théorie générale du progrès scientifique (1997, 2007) sur les causes politico-économiques du progrès scientifique, et La Faillite coupable des retraites (2003) sur l’origine de la dénatalité frappant les pays avancés. Ses domaines de recherches s’étendent de la philosophie de l’histoire des sciences à la théorie des nombres premiers, en passant par la modélisation mathématique du risque financier et à l’histoire économique des religions.
comparative_economics  declinism  comparative_advantage  article  downloaded  competitiveness  international_political_economy  comparative_history  technology  inequality  progress 
february 2016 by dunnettreader
Guido Alfani, Wouter Ryckbosch - Income inequality in pre-industrial Europe | VOX, CEPR’s Policy Portal 06 November 2015
Thomas Piketty and others have prompted renewed interest in understanding long-term patterns of inequality. This column presents evidence from pre-industrial Europe. Inequality rose even during the success stories of early modern Europe, but it can hardly have been the sole requisite for growth. In both economic history and today’s economic theory, the idea of a universal trade-off between growth and inequality needs to be replaced by stronger attention to social processes and institutional developments. -- brief but extensive lit review of how thinking of economic historians has been evolving -- downloaded pdf to Note
paper  economic_history  early_modern  Europe-Early_Modern  16thC  17thC  18thC  19thC  economic_growth  inequality  capital_formation  new_institutionalism  institutional_economics  political_economy  state-building  nation-state  human_capital  urbanization  Innovation  Industrial_Revolution  consumer_revolution  consumer_demand  wages  growth-equity_tradeoff  bibliography  downloaded 
november 2015 by dunnettreader
Florence Jaumotte, Carolina Osorio Buitron - Union power and inequality | VOX, CEPR’s Policy Portal - 22 October 2015
IMF research department -- Inequality in advanced economies has risen considerably since the 1980s, largely driven by the increase of top earners’ income shares. This column revisits the drivers of inequality, emphasising the role played by changes in labour market institutions. It argues that the decline in union density has been strongly associated with the rise of top income inequality and discusses the multiple channels through which unionisation matters for income distribution. -- very interesting all the variables they looked at and excluded -- downloaded pdf to Note
paper  political_economy  economic_history  20thC  21stC  OECD_economies  post-Cold_War  labor_share  labor_law  unions  executive_compensation  inequality  wages  wages-minimum  downloaded 
october 2015 by dunnettreader
Ravi Kanbur, Joseph Stiglitz - Wealth and income distribution: New theories needed for a new era | VOX, CEPR’s Policy Portal - 18 August 2015
Growth theories traditionally focus on the Kaldor-Kuznets stylised facts. Ravi Kanbur and Nobelist Joe Stiglitz argue that these no longer hold; new theory is needed. The new models need to drop competitive marginal productivity theories of factor returns in favour of rent-generating mechanism and wealth inequality by focusing on the ‘rules of the game.’ They also must model interactions among physical, financial, and human capital that influence the level and evolution of inequality. A third key component will be to capture mechanisms that transmit inequality from generation to generation. -- short and sweet summary of the various gaps in standard models and where both new explanatory and normative work needed -- also see references -- downloaded as pdf to Note
paper  economic_growth  economic_theory  economic_models  capital  productivity-labor_share  production  macroeconomics  distribution-wealth  distribution-income  inequality  inequality-wealth  labor_share  wages  inequality-opportunity  downloaded 
september 2015 by dunnettreader
Robert O. Keohane, review - Mancur Olson, The Rise and Decline of Nations (1983) | JSTOR
Reviewed Work: The Rise and Decline of Nations: Economic Growth, Stagflation, and Social Rigidities. -- Journal of Economic Literature
Vol. 21, No. 2 (Jun., 1983), pp. 558-560 -- quite positive, but useful on where Olson's theory has blind spots -- downloaded pdf to Note
books  bookshelf  reviews  political_economy  economic_history  economic_growth  interest_groups  collective_action  international_political_economy  institutional_economics  rational_choice  rationality-economics  rationality  stagnation  rent-seeking  politics-and-money  status  status_quo_bias  social_order  hierarchy  change-social  change-economic  castes  discrimination  inequality  mobility  post-WWII  downloaded 
september 2015 by dunnettreader
Michael Cragg and Rand Ghayad - Growing Apart: The Evolution of Income vs. Wealth Inequality | The Economists' Voice - July 2015
Michael Cragg and Rand Ghayad are employed by The Brattle Group. -- The gap between the richest Americans and the rest of the nation has changed dramatically over the past three decades – becoming one of the most challenging political and economic trends for the nation. For decades prior to that, the distribution of wealth and income had been relatively stable, so much that a central problem posed in the economics literature was to explain this stability. But beginning in the early 1980s, inequality began to grow rapidly and has recently been attracting substantial attention from policymakers and researchers reflecting a widespread concern that reflecting a widespread concern that growing labor incomes of senior executives, finance professionals, and successful entrepreneurs is entailing large economic costs to society. The dominant paradigm in the media and Washington is that inequality is purely a matter of divergence in earned (labor) income inequality which can be ameliorated by making earned income taxes more progressive and shifting spending to help the poorer. However, this is not the story: wealth inequality, as it turns out, is much worse. This warrants emphasis for a variety of reasons: (1) a growing body of research that suggests that in the head-on comparison it is wealth inequality, rather than income inequality or poverty that has a negative, statistically significant effect on economic growth.1 (2) Historically societies have failed when wealth has become overly concentrated; and (3) the wedge between earned and unearned income tax rates reduces progressivity as capital income rises. We offer a number of solutions which should generate debate amongst economists as they test conventional wisdom.
paper  paywall  economic_history  economic_growth  inequality  inequality-wealth  labor_share  wages 
september 2015 by dunnettreader
Branko Milanovic - All our needs are social | Global Inequality - August 2015
Branko Milanovic dismantles Harry Frankfurt's attempt to differentiate our "real" needs - where considerations of inequality purportedly aren't relevant, or even are counterproductive to our full self/realization -- and "social " needs where some consideration of correcting for those below some certain level is appropriate. It's a common but incoherent philosophical move -- I blame Rousseau!
inequality  amour_propre  economic_culture  self-interest  self-love  capabilities  inequality-opportunity  sociability  analytical_philosophy  socialization  Rousseau  bad_economics  authenticity  moral_philosophy  self-development  from instapaper
september 2015 by dunnettreader
Montfort Mlachila, René Tapsoba, and Sampawende Tapsoba - A Quest for Quality [of economic growth] -- Finance & Development, June 2015, Vol. 52, No. 2
Despite consensus in the economics profession that growth alone does not lead to better social outcomes (Ianchovichina and Gable, 2012), quality growth still lacks a rigorous definition or formal quantification. In a recent paper, we develop a quality of growth index (QGI) that captures both the intrinsic nature of growth and its social dimension. Our premise is that not all growth produces favorable social outcomes. How growth is generated is critical to its sustainability and ability to create decent jobs, enhance living standards, and reduce poverty. We aim in our design of the QGI to capture these multidimensional features of growth by focusing on its very nature and desired social outcomes. -- in F&D issue downloaded as pdf to Note
article  development  economic_growth  political_economy  LDCs  emerging_markets  GDP  GDP-alternatives  inequality  participation-economic  inclusion  marginalized_groups  access_to_services  access_to_finance  SMEs  micro-enterprises  Innovation  innovation-government_policy  rent-seeking  informal_sectors  living_standards  poverty  health_care  education  sustainability  unemployment  common_good  statistics  economic_policy  economic_sociology  economic_reform  downloaded 
july 2015 by dunnettreader
B. Akitoby, Sanjeev Gupta, A. Senhadji - How fiscal policy can support medium- to long-term growth | VOX, CEPR’s Policy Portal - 18 July 2015
Bernardin Akitoby, Sanjeev Gupta, Abdelhak Senhadji -- IMF Research staff -- There has been a heated debate about the effectiveness of fiscal policy as a countercyclical tool but little evidence on how it can support growth. This column shows that fiscal policy can lift medium- and long-term growth in both advanced and developing economies. But all fiscal reforms are not equal in their growth dividend. Successful reforms are often part of a broader reform package and can balance the growth-equity trade-off.
Instapaper  fiscal_policy  fiscal_space  economic_theory  Keynesian  New_Keynesian  macroeconomics  economic_models  economic_growth  economic_policy  reform-economic  inequality  unemployment  countercyclical_policy  from instapaper
july 2015 by dunnettreader
Thomas Palley - Inequality, the Financial Crisis and Stagnation: Competing Stories and Why They Matter - June 15 2015
This paper examines several mainstream explanations of the financial crisis and stagnation and the role they attribute to income inequality. Those explanations are contrasted with a structural Keynesian explanation. The role of income inequality differs substantially, giving rise to different policy recommendations. That highlights the critical importance of economic theory. Theory shapes the way we understand the world, thereby shaping how we respond to it. The theoretical narrative we adopt therefore implicitly shapes policy. That observation applies forcefully to the issue of income inequality, the financial crisis and stagnation, making it critical we get the story right.
paper  economic_theory  macroeconomics  stagnation  economic_growth  Keynesianism  economic_sociology  inequality  financial_system  financial_crisis  downloaded 
july 2015 by dunnettreader
Markus Brückner, Daniel Lederman - Effects of income inequality on economic growth | VOX, CEPR’s Policy Portal - 07 July 2015
The relationship between aggregate output and income inequality is central in macroeconomics. This column argues that greater income inequality raises the economic growth of poor countries and decreases the growth of high- and middle-income countries. Human capital accumulation is an important channel through which income inequality affects growth.
economic_growth  economic_models  macroeconomics  inequality  inequality-wealth  trickle-down  LDCs  OECD_economies  human_capital 
july 2015 by dunnettreader
POPE PAUL VI - Populorum Progressio (March 26, 1967) - ENCYCLICAL ON THE DEVELOPMENT OF PEOPLES | Vatican
The progressive development of peoples is an object of deep interest and concern to the Church. This is particularly true in the case of those peoples who are trying to escape the ravages of hunger, poverty, endemic disease and ignorance; of those who are seeking a larger share in the benefits of civilization and a more active improvement of their human qualities; of those who are consciously striving for fuller growth. -- downloaded pdf to Note
religious_history  20thC  post-WWII  Catholics  Papacy  Vatican_II  religious_belief  religious_culture  social_thought  social_problem  social_theory  modernity  poverty  inequality  justice  development  progress  downloaded 
july 2015 by dunnettreader
Era Dabla-Norris et al - Causes and Consequences of Income Inequality : A Global Perspective | IMF Research - June 2015
Era Dabla-Norris ; Kalpana Kochhar ; Nujin Suphaphiphat ; Frantisek Ricka ; Evridiki Tsounta -- This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive. (Duh!) -- didn't download
paper  IMF  economic_growth  inequality  OECD_economies  LDCs  emerging_markets  fiscal_policy  labor  labor_standards  supply-side  tax_policy  access_to_finance  poverty  working_class  middle_class  trickle-down 
july 2015 by dunnettreader
Lee Anne Fennell, Richard H. McAdams - The Distributive Deficit in Law and Economics :: SSRN - Minnesota Law Review, Forthcoming (April 2015)
Lee Anne Fennell, Richard H. McAdams, both University of Chicago Law School -- University of Chicago Coase-Sandor Institute for Law & Economics Research Paper No. 713 -- Welfarist law and economics ignores the distributive consequences of legal rules to focus solely on efficiency, even though distribution unambiguously affects welfare, the normative maximand. The now-conventional justification for disregarding distribution is the claim of tax superiority: that the best means of influencing or correcting distribution is via tax-and-transfer. Critics have observed that optimal redistribution through tax may be politically infeasible, but have generally overlooked the rejoinder that the same political impediments to redistribution through tax will block redistribution through legal rules. This “invariance hypothesis,” as we label it, holds that there is only one distributive equilibrium and that Congress will offset through tax any deviations from it. We highlight the centrality of invariance to the conventional economic wisdom and assert that it is just as relevantly false as the zero transaction cost assumption. In contexts where political impediments to tax-based redistribution exceed the impediments to doctrinal redistribution, it may be possible to increase welfare by redistributing outside of tax. Welfarists should, therefore, devote as much scholarly attention to the “political action costs” of redistribution as they do to transaction costs.-- PDF File: 65. -- Keywords: redistribution, tax-and-transfer, legal rules, law and economics, welfare economics -- saved to briefcase
article  SSRN  philosophy_of_law  welfare_economics  behavioral_economics  law-and-economics  redistribution  tax_policy  transaction_costs  inequality  inequality-wealth  policymaking  US_politics 
july 2015 by dunnettreader
Robert Reich (Why We Must Fight Economic Apartheid in America)
Almost lost by the wave of responses to the Supreme Court’s decisions last week upholding the Affordable Care Act and allowing gays and lesbians to marry was…
Instapaper  SCOTUS  US_politics  racism  housing  segregation  equality  inequality-opportunity  inequality  education-K-12  discrimination  from instapaper
july 2015 by dunnettreader
Bert Useem and Anne Morrison Piehl - Prison State: The Challenge of Mass Incarceration | Cambridge University Press - March 2008
Bert Useem, Purdue University, Indiana -- Anne Morrison Piehl, Rutgers University, New Jersey -- Paperback isbn: 9780521713399 -- Within the past 25 years, the prison population in America shot upward to reach a staggering 1.53 million by 2005. This book takes a broad, critical look at incarceration, the huge social experiment of American society. The authors investigate the causes and consequences of the prison buildup, often challenging previously held notions from scholarly and public discourse. By examining such themes as social discontent, safety and security within prisons, and impact on crime and on the labor market, Piehl and Useem use evidence to address the inevitable larger question, where should incarceration go next for American society, and where is it likely to go? **--** Table of Contents -- 1. The buildup to mass incarceration -- 2. Causes of the prison buildup -- 3. More prison, less crime? -- 4. Prison buildup and disorder -- 5. The buildup and inmate release -- 6. Implications of the buildup for labor markets -- 7. Conclusion: right-sizing prison. -- via Mark Kleiman re after a certain percentage of the population incarcerated, each marginal convict you add actually increases the crime rate, due to both internal factors (prisons breed criminals) and external impacts on the community from which prisoners are being taken -- excerpt downloaded pdf to Note
books  US_history  US_society  US_legal_system  US_politics  social_history  20thC  21stC  crime  criminal_justice  prisons  Labor_markets  racism  discrimination  poverty  inequality  law_enforcement  privatization  police  legislation  judiciary  state_government  urban_politics  cities-governance  downloaded 
june 2015 by dunnettreader
Marshall Steinbaum - Mis-measuring US income inequality at the very top - Washington Center for Equitable Growth - June 15, 2015
A recent working paper by David Price and Nicholas Bloom of Stanford University, Fatih Guvenen of the University of Minnesota, and Jae Song of the Social Security Administration argues that nearly the entire rise in earnings inequality in the U.S. labor market between 1980 and 2012 is accounted for by rising inequality in average wages across firms. In other words, it isn’t that well-paid chief executives are pulling away from their employees, but rather that the salaries at some firms are pulling away from their competitors—even within the same industry. The working paper, “Firming Up Inequality,” got a lot of attention because it conflicts with research that shows rising inequality is due in large part to skyrocketing compensation by “supermanagers,” (...) My new research note, however, shows that the sampling procedure in “Firming Up Inequality” is biased in two distinct ways. Together, these two statistical biases reduce the scale of rising earnings inequality and hence minimize the very phenomenon the paper seeks to investigate. Importantly, both sources of bias get worse the more inequality grows, which is exactly what happened over the period studied in the paper.
inequality  executive_compensation  statistics 
june 2015 by dunnettreader
Nancy Fraser: Rethinking Recognition. New Left Review 3, May-June 2000.
Has the liberating charge of struggles for recognition dissolved into pure identity politics? Do these have to sidestep inequalities of wealth and power? Not, Nancy Fraser contends, if recognition is understood as a question of social status rather than existential address. -- interesting fit from a social justice angle of key themes taken up by Jacib Levy in his new book -- downloaded pdf to Note
social_theory  culture_wars  cultural_authority  classes  status  political_participation  minorities  identity  identity_politics  multiculturalism  communitarian  identity-multiple  wealth  inequality-opportunity  inequality  inequality-wealth  redistribution  reification  recognition  Hegel  dialogue  marginalized_groups  downloaded 
june 2015 by dunnettreader
JW Mason - The Slack Wire: The End of the Supermanager? - June 2015
Like Larry at EPI, he finds the new highly heralded paper that claims the growth of inequality has been principally between firms rather than between "classes" -- some of the results don't fully pass the smell test e.g. that different sectors don't appear to be an important variable, which doesn't square with what we know about the financial services industry. More interesting is breaking down "sources" of income for those at the top of the income distribution pyramid, and what's been happening with the mix of sources. There was a huge spurt in CEO compensation "from labor" from, say $1M to $10M. Then since c. 2000, it's dropped back down to $5M. So the continued process of the lion's share of growth in GNP going to the tippy-top is now increasingly income from wealth, not "labor". A pattern to chew on, but it further complicates the claims of the paper that we're seeing inequality emerge from n apparently less nefarious process than rampant greed of superstars. It's inter-firm competition, the benefits of which the lower orders participate in via higher compensation than peers in less competitive firms.
Instapaper  US_economy  economic_history  post-Cold_War  21stC  inequality  inequality-wealth  executive_compensation  competition  Innovation  labor_share  productivity  productivity-labor_share  from instapaper
june 2015 by dunnettreader
Charles A.E. Goodhart, Philipp Erfurth - Monetary policy and long-term trends | VOX, CEPR’s Policy Portal - 03 November 2014
There has been a long-term downward trend in labour’s share of national income, depressing both demand and inflation, and thus prompting ever more expansionary monetary policies. This column argues that, while understandable in a short-term business cycle context, this has exacerbated longer-term trends, increasing inequality and financial distortions. Perhaps the most fundamental problem has been over-reliance on debt finance. The authors propose policies to raise the share of equity finance in housing markets; such reforms could be extended to other sectors of the economy. -- downloaded page as pdf to Note
macroeconomics  global_economy  globalization  labor_share  Labor_markets  inequality-global  inequality  inequality-wealth  OECD_economies  wages  housing  mortgages  debt  debt-overhang  asset_prices  interest_rates  bubbles  real_estate  equity-corporate  equity_markets  central_banks  monetary_policy  financial_system  financial_crisis  LTV  downloaded 
may 2015 by dunnettreader
Toby Nangle - Labour power sets the neutral real rate | VOX, CEPR’s Policy Portal - 09 May 2015
The recent remarkably low interest rates have puzzled economists. The standard explanation rests on the extraordinary manoeuvres of the world’s largest central banks. This column argues, however, that it is due to economic developments, specifically globalisation and the collapse in labour power in the west. -- downloaded page as pdf to Note
macroeconomics  global_economy  globalization  labor_share  Labor_markets  inequality-global  inequality  OECD_economies  interest_rates  asset_prices  investment  capital  stagnation  central_banks  capital_markets  China-economy  off-shoring  downloaded 
may 2015 by dunnettreader
Alan B. Krueger - The great utility of the Great Gatsby Curve | Brookings May 2015
Every so often an academic finding gets into the political bloodstream. A leading example is "The Great Gatsby Curve," describing an inverse relationship between income inequality and intergenerational mobility. Born in 2011, the Curve has attracted plaudits and opprobrium in almost equal measure. Over the next couple of weeks, Social Mobility Memos is airing opinions from both sides of the argument, starting today with Prof Alan Krueger, the man who made the Curve famous. -- Building on the work of Miles Corak, Anders Björklund, Markus Jantti, and others, I proposed the “Great Gatsby Curve” in a speech in January 2012. The idea is straightforward: greater income inequality in one generation amplifies the consequences of having rich or poor parents for the economic status of the next generation.
The curve is predicted by economic theory…
US_economy  inequality  inheritance  inequality-opportunity  inequality-wealth  families  economic_sociology  economic_theory  economic_models  microeconomics  mobility  statistics  Instapaper  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
Médicins sans frontières - The Trans-Pacific Partnership: A Threat To Global Health? -:May 2015
The IP protections for big pharma not only go against consensus on improving global health policy, they are in the opposite direction of Obama administration domestic policy! The trade technocrats who've been committed to a career of trade negotiations seem to have completely lost the plot. Looks like a classic case of regulatory capture (sharing "business promotion" process and goals with US MNCs, their most important "partners") of one part of the policymaking bureaucracy, which isn't even registering the fact of conflict with other parts of the government. The White House (and Treasury? ) appear to have bought the negitiators' claim that the deal is the "best" they can get, and if a part of it is attacked the whole thing will come apart. Besides the MNCs who will be able to exploit monopolies on a global scale and protect their newly acquired"property rights" from pesky national regulations, it's unclear who in the US benefits. But the trade technocrats are working in a bubble where "doing a deal" would be a triumph, regardless of the merits, after Doha fell apart. It also looks like "intellectual capture" with a failure to mark policies to market in face of counter evidence. There's been nothing on the trade front that has vocally challenged neoliberal verities the way the IMF is openly questioning its dogmas. I bet USTR is still mandating capital account liberalization in bilaterals while it's been abandoned as "best practice" at the IMF, with no timely input from the right people at Treasury to change the boilerplate demands. Jason Furman, or somebody close to the President, needs to show him how much the TPP embodies a host of awful stuff he's been openly fighting against. The secrecy has been working against him -- it distorts the signals. People whose judgment he'd trust haven't opposed specifics they'd scream against, since they haven't seen the details and aren't willing to be seen to undermine him, and he's only been pressured from the Left which can be completely discounted, since they're expected to be unhappy. But it's looking not just "hold your nose" poor -- it's actively terrible -- especially since it's also to be used as a blueprint for bringing more countries on board! Total dig's breakfast!
US_economy  US_politics  trade-policy  trade-agreements  Trans-Pacific-Partnership  IP  IP-global_governance  pharma  health  development  LDCs  monopolies  rent-seeking  inequality  unions  neoliberalism  Democrats  Obama_administration  Obama  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
Ben Zipperer - How raising the minimum wage ripples through the workforce | Washington Center for Equitable Growth - April 2015
Summary of research by several economists -- the failure to index the minimum wage has been a big part of increasing inequality at the bottom of the income distribution, especially for wonen. Discusses the ripple effects that have fully dissipated by the 25th percentile -- charts and pdf available
US_economy  economic_history  20thC  21stC  post-Cold_War  wages  wages-minimum  gender_gap  inequality  Labor_markets 
april 2015 by dunnettreader
Alan Manning - Shifting the Balance of Power: Workers, Wages and Employers over the Next Parliament | Resolution Foundation - April 2015
Professor of Economics in the Department of Economics and Director of the Community Programme at the Centre for Economic Performance at the LSE -- 40 years ago an improving labour market and prices rising faster than wages would have led trade unions to march into the boardroom demanding higher wages and threatening strike action if those demands were not met. Pretty soon, union leaders would have been invited round to Number 10 for beer and sandwiches to be cajoled into wage moderation to prevent an inflationary spiral taking hold. A lot has changed in the past 40 years.These days the Prosecco remains in the fridge and David Cameron used a speech to the British Chambers of Commerce in February to urge pay rises for workers, a somewhat surprising sight. But, there is a simple explanation. Since the crisis began, the average British worker has suffered a fall in living standards deeper and longer than anything experienced for more than a generation. The recent drop in oil prices and the resulting lower inflation will offer some respite but not much. -- Comparing the situation now and 40 years ago, it is hard to escape the conclusion that there has been a fundamental shift in the balance of power from workers to employers and that perhaps this shift has gone too far and it is time to redress the balance somewhat. -- copied to Pocket
article  political_economy  UK_economy  labor_history  Labor_markets  unemployment  wages  profit  productivity  productivity-labor_share  inequality  unions  British_politics  standard_of_living  employers  working_class  competition  Pocket 
april 2015 by dunnettreader
Giovanni Dosi, et al -Fiscal and Monetary Policies in Complex Evolving Economies -- 2013 :: SSRN
Giovanni Dosi, Giorgio Fagiolo, Mauro Napoletano, Andrea Roventini, Tania Treibich -- In this paper we explore the effects of alternative combinations of fiscal and monetary policies under different income distribution regimes. In particular, we aim at evaluating fiscal rules in economies subject to banking crises and deep recessions. We do so using an agent-based model populated by heterogeneous capital- and consumption-good firms, heterogeneous banks, workers/consumers, a Central Bank and a Government. We show that the model is able to reproduce a wide array of macro and micro empirical regularities, including stylised facts concerning financial dynamics and banking crises. Simulation results suggest that the most appropriate policy mix to stabilize the economy requires unconstrained counter-cyclical fiscal policies, where automatic stabilizers are free to dampen business cycles fluctuations, and a monetary policy targeting also employment. Instead, "discipline-guided" fiscal rules such as the Stability and Growth Pact or the Fiscal Compact in the Eurozone always depress the economy, without improving public finances, even when escape clauses in case of recessions are considered. Consequently, austerity policies appear to be in general self-defeating. Furthermore, we show that the negative effects of austere fiscal rules are magnified by conservative monetary policies focused on inflation stabilization only. Finally, the effects of monetary and fiscal policies become sharper as the level of income inequality increases. -- Pages in PDF File: 38 -- Keywords: agent-based model, fiscal policy, monetary policy, banking crises, income inequality, austerity policies, disequilibrium dynamics -- downloaded pdf to Note
paper  SSRN  macroeconomics  fiscal_policy  fiscal_drag  austerity  Eurozone  EU_governance  EU  equilibrium  financial_crisis  bank_runs  inequality  countercyclical_policy  agent-based_models  complexity  recessions  dynamic_attractors  complex_adaptive_systems  downloaded 
april 2015 by dunnettreader
Peter Turchin – The history of inequality | Aeon - Feb 2013
From the Roman Empire to our own Gilded Age, inequality moves in cycles. The future looks like a rough ride
article  cliometrics  economic_history  cycles  inequality  Instapaper 
march 2015 by dunnettreader
Full transcript: President Obama, Dec 4 2013 - Inequality and rolling back Reagan Revolution | The Washington Post
But starting in the late ‘70s, this social compact began to unravel.Technology made it easier for companies to do more with less, eliminating certain job occupations. A more competitive world led companies ship jobs anyway. And as good manufacturing jobs automated or headed offshore, workers lost their leverage; jobs paid less and offered fewer benefits. As values of community broke down and competitive pressure increased, businesses lobbied Washington to weaken unions and the value of the minimum wage. As the trickle-down ideology became more prominent, taxes were slashes for the wealthiest while investments in things that make us all richer, like schools and infrastructure, were allowed to wither. And for a certain period of time we could ignore this weakening economic foundation, in part because more families were relying on two earners, as women entered the workforce. We took on more debt financed by juiced-up housing market. But when the music stopped and the crisis hit, millions of families were stripped of whatever cushion they had left. And the result is an economy that’s become profoundly unequal and families that are more insecure. (..) it is harder today for a child born here in America to improve her station in life than it is for children in most of our wealthy allies, countries like Canada or Germany or France. They have greater mobility than we do, not less.(..) The combined trends of increased inequality and decreasing mobility pose a fundamental threat to the American dream, our way of life and what we stand for around the globe. And it is not simply a moral claim that I’m making here. There are practical consequences to rising inequality and reduced mobility. -- downloaded as pdf to Note
speech  Obama  inequality  supply-side  labor_share  business-ethics  norms  norms-business  morality-conventional  morality-Christian  utilitarianism  globalization  technology  US_foreign_policy  US_economy  US_politics  US_society  US_government  US_history  common_good  civic_virtue  economic_growth  economic_culture  distribution-income  distribution-wealth  unemployment  health_care  public_goods  public_opinion  public_policy  downloaded  EF-add 
january 2015 by dunnettreader
Andrew Sprung - Reagan Revolution rollback | xpostfactoid - Jan 2015
Thanks largely to Piketty it's become increasingly clear that in the Reagan Revolution, middle class America sold its birthright for a mess of supply-side pottage. Dems willingness to credit GOP dogma -- raising taxes on high incomes and investment gains inhibits growth, deregulation spurs it -- are melting away. Post midterm losses, Dems are beginning to heighten rather than soft-pedal the policy contrasts between the parties. Wounded politically by perceptions that the ACA helps the poor at the expense of working people, they are looking for proposals attractive to the middle class. Emboldened by accelerating growth and employment gains, they are perhaps shedding inhibitions about leveling the playing field between workers and management. (..)To mess up my timeline a bit, Obama delivered a Pikettian narrative in Dec 2013 ..should have been a landmark speech on inequality (..) if he (and Dems) hadn't (tried to) protect their Senate majority. [In the Dec 2013 soeech] Obama zeroed in on policy choices. "As values of community broke down and competitive pressure increased, businesses lobbied Washington to weaken unions and the value of the minimum wage. As the trickle-down ideology became more prominent, taxes were slashes for the wealthiest while investments in things that make us all richer, like schools and infrastructure, were allowed to wither. And for a certain period of time we could ignore this weakening economic foundation (..) But when the music stopped and the crisis hit, millions of families were stripped of whatever cushion they had left. And the result is an economy that’s become profoundly unequal and families that are more insecure. -- terrific links roundup
US_economy  US_politics  Obama  Obama_administration  Reagan  supply-side  trickle-down  neoliberalism  inequality  middle_class  wages  wages-minimum  labor  labor_law  labor_share  labor_standards  Labor_markets  investment  executive_compensation  1-percent  infrastructure  education  education-higher  civic_virtue  common_good  Piketty  economic_growth  economic_culture  distribution-income  distribution-wealth  unemployment  health_care  public_goods  public_opinion  public_policy  elections  political_culture  political_economy  political_discourse  political_participation  Pocket 
january 2015 by dunnettreader
Report of the Commission on Inclusive Prosperity | Center for American Progress - Jan 15 2015
Trans-Atlantic social dems - lead signers L Summers & Ed Ball -Our report is about embracing the new economic opportunities of the 21st century by finding ways to ensure they serve the vast majority of society. In previous eras, political institutions have responded to economic transformations to ensure prosperity is shared: the New Deal in the United States and the European social welfare state; the “third-way” politics of putting people first of Clinton and Blair by investing in people and reforming institutions. Just as it took the New Deal and the European social welfare state to make the Industrial Revolution work for the many and not the few during the 20th century, we need new social and political institutions to make 21st century capitalism work for the many and not the few. We offer this report on the urgency of achieving inclusive prosperity because we believe democracy must serve this common good, the cause of social justice and the aspirations of parents for their children. For democracies to thrive, rising prosperity must be within reach of all of our citizens. - downloaded pdf to iPhone
report  downloaded  political_economy  economic_growth  inequality  labor  democracy  common_good  US_politics  British_politics  austerity 
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
Garicano, Luis and Rossi-Hansberg, Esteban (2014) - Knowledge-based hierarchies: using organizations to understand the economy - LSE Research Online
Via Economic Principals -- We argue that incorporating the decision of how to organize the acquisition, use, and communication of knowledge into economic models is essential to understand a wide variety of economic phenomena. We survey the literature that has used knowledge-based hierarchies to study issues like the evolution of wage inequality, the growth and productivity of firms, economic development, the gains from international trade, as well as offshoring and the formation of international production teams, among many others. We also review the nascent empirical literature that has, so far, confirmed the importance of organizational decisions and many of its more salient implications. - downloaded to iPhone
paper  lit_survey  economic_theory  economic_growth  productivity  inequality  labor  wages  supply_chains  teams  off-shoring  trade  emerging_markets  corporate_finance  development  MNCs  power  power-asymetric  firm-theory  organization  hierarchy  know-how  technology  innovation  superstars  middle_class  working_class  social_stratification  social_theory  institutional_economics  globalization  economy_of_scale  increasing_returns  IP  downloaded 
january 2015 by dunnettreader
Yes, Free Community College Is Major, But Not Just For The Reason You Think | TPM Jan 2015
by Ed adviser at New America Fiundation - explains that it's the 1st step of brunging some order & accountability to state policies re their investment in their universities and community colleges - the federal student loans has been a sort of blank check for states to pass rising costs onto the gederal givernment and to students via tuitions and huge losns with no discipline or accountability - the Obsma ain proposal is less about the $s the states would have to contribute (California pribably alteady meets the 25% threshold for funding its community colleges frex) than requiring states to make a commitment for both good and bad times. Rught now they can go hog wild expanding campuses, faculties, etc when their dconomy is booming and push the ongoing costs of those decisions onto students and the federal gov when the economy is poor. And they haven't been passing the good times along to students as reduced tuition (and federal loans) during good times, so costs have increased at far faster than inflation for decades.
Obama_administration  education-higher  inequality  federalism  state_government 
january 2015 by dunnettreader
Paul Krugmam blog - Recent History in One Chart (Branko Milanovic global inequality trends) | NYTimes.com Jan 2015
A number of people have been putting up candidates for chart of the year. For me, the big chart of 2014 wasn’t actually from 2014 — it was from earlier work (pdf) by Branko Milanovic, which I somehow didn’t see until a few months ago. It shows income growth since 1988 by percentiles of the world income distribution (as opposed to national distributions): {chart} What you see is the surge by the global elite (the top 0.1, 0.01, etc. would be doing even better than his top 1), plus the dramatic rise of many but not all people in emerging markets. In between is what Branko suggests corresponds to the US lower-middle class, but what I’d say corresponds to advanced-country working classes in general, at least if you add post-2008 data with the effects of austerity. I’d call it the valley of despond, and I think it’s going to be a crucial factor in developments over the next few years.
economic_history  post-Cold_War  globalization  20thC  21stC  economic_growth  inequality  labor  wages  middle_class  OECD_economies  emerging_markets  LDCs  capital  profit  plutocracy  China  India  political_economy  poverty  stagnation  downloaded 
january 2015 by dunnettreader
Barry Bosworth - Sources of Real Wage Stagnation | Brookings Dec 2014
The new phenomenon is the decline in labor’s share of income for which we have no satisfactory explanation. It may reflect the huge rents that accrued to commodity producers during the boom of the last decade, and as that comes to an end labor’s share may rise toward the historical norm. However, some analysts point to the development of a highly competitive global market for labor combined with a more general reduction in product-market competition through reliance of mergers, IT patents, and regulations that suggest a reduced labor share may be a longer-lasting phenomenon.
rents  economic_growth  labor  inequality  productivity  21stc  wages  20thc  monopolies  profits  globalization  ip  economic_history  us_economy  Pocket 
january 2015 by dunnettreader
Kemal Derviş homes in on the key questions surrounding the nature and measurement of contemporary growth. - Project Syndicate
Slowly but surely, the debate about the nature of economic growth is entering a new phase. The emerging questions are sufficiently different from those of recent decades that one can sense a shift in the conceptual framework that will structure the discussion of economic progress – and economic policy – from now on.
economic_growth  political_economy  trchnology  innovation  stagnation  LDCs  Piletty  emergy  natural_resources  climate  inequality  labor  unemployment  automation  basic_income 
january 2015 by dunnettreader
James Fallows - The Tragedy of the American Military | The Atlantic Dec 2014
how we've become a chickenhawk nation, with a titally unaccountable military and an out-if-contril military-industrial complex that isn't just wasteful but actively counterproductive re both military war-fighting capabilities and US strategic positioning in glibalized, multi-polar and real-time connected world - Fallows also reflects concerns re manageralist mindset that can neither deal with shifting big picture (othet than more, faster, etc is automatically better) nor allow innovative problem solving at tactical level - bureaucratic fiefdoms that don't combine coherently, in evidence by 1990s as Versailles in the Potimac, has only gotten worse, with the press corps more enablers than watchdogs - and the stuff that does get media attention is pennyante, easy to hype gaffes not the goring of any important interest's ox. The F-35 vs A10 debacle is the perfect illustration, in a breathtaking scale, of everything wrong re both DOD and the military services, and it's basically a non-issue for both the press and politicians of all persuasions.
technology  ir  us  government  cultural_history  inequality  21stc  hegemony  us_politics  us_foreign_policy  20thc  military  history  iraq  gwot  miitary-industrial  comple  fiscal  policy  accountability  congress  Pocket  from instapaper
january 2015 by dunnettreader
Xavier Marquez -Cicero and the Stability of States by (2010) :: SSRN
Victoria University of Wellington -- APSA 2009 Toronto Meeting Paper -- History of Political Thought, Vol. 32, No. 3, pp. 397-423, 2011 -- I argue for the originality and interest of Cicero’s views on the stability of political communities. After a survey of ancient ideas on the mixed constitution (the framework for thinking about the stability of political communities in the ancient world), I show how Cicero adapted these ideas to analyze the Roman situation of his time. Cicero’s version of the theory of the mixed constitution is notable for two innovations: an argument that stability is possible even under conditions of high inequality, and an account of constitutional mixture that emphasizes the role of the “monarchic” element in promoting concord and stability and meeting unexpected challenges. I show, however, that this account unfortunately made it clear that the Roman crisis of Cicero’s time was more or less insoluble in ways that would preserve the republic. -- PDF File: 42 pgs -- Keywords: Cicero, History of Political Thought, States, Stability, Plato, Aristotle -- downloaded to Dropbox
article  SSRN  political_philosophy  intellectual_history  ancient_philosophy  ancient_Greece  ancient_Rome  ancient_history  Cicero  Plato  Aristotle  stability  Roman_Republic  government-forms  adaptability  mixed_government  republics-Ancient_v_Modern  republicanism  inequality  class_conflict  limited_monarchy  monarchical_republic  downloaded  EF-add 
november 2014 by dunnettreader
Mike Konczal, review essay - Selling Fast: Public Goods, Profits, and State Legitimacy | Boston Review - November 10, 2014
Nicholas R. Parrillo, Against the Profit Motive: The Salary Revolution in American Government, 1780–1940, Yale University Press, $55 (paper) -- Dana Goldstein, The Teacher Wars: A History of America’s Most Embattled Profession, Doubleday, $26.95 (cloth) -- Radley Balko, Rise of the Warrior Cop: The Militarization of America’s Police Forces, PublicAffairs, $17.99 (paper) -- Adam Smith was not the first, but he was certainly one of the most eloquent defenders of justice delivered according to the profit motive (..)since courts could charge fees for conducting a trial, each court would endeavor, “by superior dispatch and impartiality, to draw to itself as many causes as it could.” Competition meant a judge would try “to give, in his own court, the speediest and most effectual remedy which the law would admit, for every sort of injustice.” Left unsaid is what this system does to those who can’t afford to pay up. Our government is being remade in this mold—the mold of a business. The past thirty years have seen massive, outright privatization of government services. Meanwhile the logic of business, competition, and the profit motive has been introduced into what remains. But for those with a long enough historical memory, this is nothing new. Through the first half of our country’s history, public officials were paid according to the profit motive, and it was only through the failures of that system that a fragile accountability was put into place during the Progressive Era. One of the key sources of this accountability was the establishment of salaries for public officials who previously had been paid on commission.
books  reviews  kindle-available  US_government  US_society  governance  legitimacy  accountability  inequality  justice  privatization  US_history  18thC  19thC  20thC  21stC  competition  profit  Gilded_Age  Progressive_Era  civil_society  civil_liberties  US_constitution  Evernote  EF-add 
november 2014 by dunnettreader
Alain Charlet and Jeffrey Owens - An International Perspective on VAT - Tax Notes International, Sept 2010
An International Perspective on VAT -- by Alain Charlet and Jeffrey Owens -- Tax Notes International, Vol 59, No. 12, pp 943-54 -- September 20, 2010 -- Downloaded pdf from OECD > Centre for Tax Polic...
article  OECD  OECD_economies  taxes  tax_collection  consumers  fiscal_policy  economic_growth  political_economy  political_culture  government_finance  redistribution  sovereign_debt  inequality  downloaded  EF-add  from notes
november 2014 by dunnettreader
Special Issue in Memory of Charles Tilly (1929–2008): Cities, States, Trust, and Rule - Contents | JSTOR: Theory and Society, Vol. 39, No. 3/4, May 2010
1 - Cities, states, trust, and rule: new departures from the work of Charles Tilly - Michael Hanagan and Chris Tilly [d-load] *-* 2 - Cities, states, and trust networks: Chapter 1 of 'Cities and States in World History' - Charles Tilly [d-load] *-* 3 - Unanticipated consequences of "humanitarian intervention": The British campaign to abolish the slave trade, 1807-1900 - Marcel van der Linden [d-load] *-* 4 - Is there a moral economy of state formation? Religious minorities and repertoires of regime integration in the Middle East and Western Europe, 600-1614 - Ariel Salzmann [d-load] *-* 5 - Inclusiveness and exclusion: trust networks at the origins of European cities - Wim Blockmans [d-load] *-* 6 - Colonial legacy of ethno-racial inequality in Japan - Hwaji Shin. *-* 7 - Legacies of empire? - Miguel Angel Centeno and Elaine Enriquez. *-* 8 - Cities and states in geohistory - Edward W. Soja [d-load] *-* 9 - From city club to nation state: business networks in American political development - Elisabeth S. Clemens [d-load] *-* 10 - Irregular armed forces, shifting patterns of commitment, and fragmented sovereignty in the developing world - Diane E. Davis *-* 11 - Institutions and the adoption of rights: political and property rights in Colombia - Carmenza Gallo *-* 12 - Taking Tilly south: durable inequalities, democratic contestation, and citizenship in the Southern Metropolis - Patrick Heller and Peter Evans *-* 13 - Industrial welfare and the state: nation and city reconsidered - Smita Srinivas *-* 14 - The forms of power and the forms of cities: building on Charles Tilly - Peter Marcuse [d-load] *-* 15 - Was government the solution or the problem? The role of the state in the history of American social policy
journal  article  jstor  social_theory  political_sociology  contention  social_movements  change-social  historical_sociology  nation-state  cities  city_states  urban_politics  urban_elites  urbanization  urban_development  economic_sociology  institutions  institutional_change  property_rights  civil_liberties  civil_society  political_participation  political_culture  inequality  class_conflict  development  colonialism  abolition  medieval_history  state-building  religious_culture  politics-and-religion  MENA  Europe-Early_Modern  Reformation  networks-business  US_history  US_politics  US_economy  welfare_state  power-asymmetric  power-symbolic  elites  elite_culture  imperialism  empires  trust  networks-social  networks-religious  networks  14thC  15thC  16thC  17thC  18thC  19thC  20thC  geohistory  moral_economy  military_history  militia  guerrillas  mercenaires  sovereignty  institution-building 
october 2014 by dunnettreader
Home - Path to Full Employment | Project of Center on Budget and Policy Priorities
For most of the last few decades, the U.S. labor market has operated with considerable slack. Periods of full employment have been the exception, not the rule. In response, Jared Bernstein, Senior Fellow at the Center on Budget and Policy Priorities and previously Vice President Biden’s chief economic adviser, and the Center have begun a multiyear project to focus greater attention on the goal of reaching full employment and develop policy ideas to achieve this critical goal. To learn more about the project, visit our events page to watch our April 2 kick-off event at the National Press Club. To read a set of papers on policy ideas to get back to full employment, go to our papers’ page (this event was made possible thanks to a grant from the Rockefeller Foundation). -- Launched with big event and clutch of papers in April 2014 -- downloaded to Note pdf of Jared Bernstein's project overview paper -- as of October 2014 no new activity
US_economy  US_government  US_society  US_politics  Congress  Great_Recession  inequality  unemployment  labor  labor_law  labor_share  wages  wages-minimum  labor_standards  fiscal_policy  state_government  infrastructure  investment  downloaded  EF-add 
october 2014 by dunnettreader
Ylan Q. Mui - How the Fed is trying to fill in the gaps of monetary policy - The Washington Post - Oct 2014
[T]he Fed in recent years has made a concerted effort to incorporate Main Street concerns into their considerations of macroeconomic policy. On Thursday, Yellen will meet with nonprofits and community developers in Chelsea that have received funding through an initiative at the Boston Fed to address some of the economy’s most intractable problems — from long-term unemployment to access to credit — on the ground level. “When you think about maximum employment, monetary policy can deal with the cyclical," Boston Fed President Eric S. Rosengren said in an interview Thursday. "If we were able to change the mindset in some of these cities, the employment picture in these cities would clearly be better.” In Chelsea, Yellen will tour a program called Connect, which focuses on financial security. ....The three-year-old program seems to be gaining traction where monetary policy cannot. Ann Houston, executive director of the Neighborhood Developers, one of the organizations involved in the project, said those in the program see a $400 median increase in monthly net income. The median increase in credit score is 35 points. “Increasingly, there’s this recognition that monetary policy is sort of a blunt instrument,” said David Erickson, director of the Center for Community Development at the San Francisco Fed, which has compiled extensive research on programs and places that have successfully reduced poverty. “In that case, you need a little bit more of a surgical tool, and that’s where community development comes in.”
US_economy  US_government  US_society  Fed  financial_access  inequality  unemployment  community_development  education-training  education-finance  monetary_policy  banking 
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
Nitzan, Jonathan - LSE Public Event: Can Capitalists Afford Recovery? -- Video and Paper (May 2014) | bnarchives
Presentation at the LSE Department of International Relations. 27 May 2014. -- Theorists and policymakers from all directions and of all persuasions remain obsessed with the prospect of recovery. For mainstream economists, the key question is how to bring about such a recovery. For heterodox political economists, the main issue is whether sustained growth is possible to start with. But there is a prior question that nobody seems to ask: can capitalists afford recovery in the first place? If we think of capital not as means of production but as a mode of power, we find that accumulation thrives not on growth and investment, but on unemployment and stagnation. And if accumulation depends on crisis, why should capitalists want to see a recovery? -- Video duration: 2:24 hours -- Keywords: crisis, differential accumulation, economic policy, economic theory, expectations, growth, income distribution, Keynesianism, Marxism, monetarism, neoclassical economics, profit, underconsumption -- Subjects: BN State & Government, BN Power, BN Region - North America, BN Business Enterprise, BN Value & Price, BN Crisis, BN Production, BN Macro, BN Conflict & Violence, BN Money & Finance, BN Ideology, BN Distribution, BN Methodology, BN Capital & Accumulation, BN Policy, BN Class, BN Labour, BN Growth -- links to LSE on YouTube -- downloaded pdf to Note
paper  video  Great_Recession  financial_crisis  economic_growth  capital_as_power  capitalism-systemic_crisis  economic_theory  economic_models  macroeconomics  neoclassical_economics  Keynesian  Marxist  monetarism  monetary_policy  fiscal_policy  austerity  sovereign_debt  public_finance  public_policy  productivity  production  consumer_demand  underconsumption  investment  profit  productivity-labor_share  distribution-income  distribution-wealth  finance_capital  financialization  capitalization  accumulation  accumulation-differential  elites-self-destructive  elite_culture  ruling_class  class_conflict  Labor_markets  inequality  unemployment 
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 - The Asymptotes of Power - Real-World Economics Review. No. 60. June 2012. pp. 18-53 | bnarchives
Article workup of earlier conference paper -- This is the latest in a series of articles we have been writing on the current crisis. The purpose of our previous papers was to characterize the crisis. We claimed that it was a 'systemic crisis', and that capitalists were gripped by 'systemic fear'. In this article, we seek to explain why. The problem that capitalists face today, we argue, is not that their power has withered, but, on the contrary, that their power has increased. Indeed, not only has their power increased, it has increased by so much that it might be approaching its asymptote. And since capitalists look not backward to the past but forward to the future, they have good reason to fear that, from now on, the most likely trajectory of this power will be not up, but down. The paper begins by setting up our general framework and key concepts. It continues with a step-by-step deconstruction of key power processes in the United States, attempting to assess how close these processes are to their asymptotes. And it concludes with brief observations about what may lie ahead. -- Keywords: capitalization distribution power, systemic crisis -- Subjects: BN Money & Finance, BN Conflict & Violence, BN Distribution, BN Resistance, BN Power, BN Region - North America, BN Business Enterprise, BN Capital & Accumulation, BN Value & Price, BN Class, BN Crisis -- downloaded pdf to Note, also Excel data sheet
article  international_political_economy  capital_as_power  financial_system  international_finance  global_economy  global_system  ruling_class  transnational_elites  elite_culture  elites-self-destructive  globalization  power-asymmetric  Great_Recession  financial_crisis  finance_capital  financialization  distribution-income  distribution-wealth  profit  labor_share  risk-systemic  inequality  plutocracy  1-percent  conflict  violence  class_conflict  neoliberalism  corporate_citizenship  systems-complex_adaptive  systems_theory  grassroots  opposition  democracy  democracy_deficit  accumulation  capitalization  US_politics  US_economy  political_economy  political_culture  economic_culture  elites  rebellion  failed_states  property_rights  business-and-politics  business-norms  economic_growth  fear  data  capitalism-systemic_crisis  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
Sunanda Sen - International Trade Theory and Policy: A Review of the Literature - Working Paper No. 635 | Levy Economics Institute - November 2010
This paper provides a survey of the literature on trade theory, from the classical example of comparative advantage to the New Trade theories currently used by many advanced countries to direct industrial policy and trade. An account is provided of the neo-classical brand of reciprocal demand and resource endowment theories, along with their usual empirical verifications and logical critiques. A useful supplement is provided in terms of Staffan Linder’s theory of “overlapping demand,” which provides an explanation of trade structure in terms of aggregate demand. Attention is drawn to new developments in trade theory, with strategic trade providing inputs to industrial policy. Issues relating to trade, growth, and development are dealt with separately, supplemented by an account of the neo-Marxist versions of trade and underdevelopment. -- Associated Program: The State of the US and World Economies -- Related Topic(s):Comparative costs New theories of trade Overlapping demand Resource pattern and trade Strategic trade Trade and development -- downloaded pdf to Note
paper  lit_survey  economic_theory  intellectual_history  18thC  19thC  20thC  21stC  trade-theory  trade-policy  industrial_policy  economic_growth  development  comparative_advantage  demand-side  supply-side  natural_resources  commodities  industrialization  exports  import_substitution  imports  export-led  neoclassical_economics  neo-Marxist  trade-strategic  underdevelopment  inequality  labor  downloaded 
october 2014 by dunnettreader
Gary A. Dymski, Jesus Hernandez, and Lisa Mohanty - Race, Power, and the Subprime/Foreclosure Crisis: A Mesoanalysis - Working Paper No. 669 | Levy Economics Institute - May 2011
Economists’ principal explanations of the subprime crisis differ from those developed by noneconomists in that the latter see it as rooted in the US legacy of racial/ethnic inequality, and especially in racial residential segregation, whereas the former ignore race. This paper traces this disjuncture to two sources. What is missing in the social science view is any attention to the market mechanisms involved in subprime lending; and economists, on their side, have drawn too tight a boundary for “the economic,” focusing on market mechanisms per se,to the exclusion of the households and community whose resources and outcomes these mechanisms affect. Economists’ extensive empirical studies of racial redlining and discrimination in credit markets have, ironically, had the effect of making race analytically invisible. Because of these explanatory lacunae, two defining aspects of the subprime crisis have not been well explained. First, why were borrowers that had previously been excluded from equal access to mortgage credit instead super included in subprime lending? Second, why didn’t the flood of mortgage brokers that accompanied the 2000s housing boom reduce the proportion of minority borrowers who were burdened with costly and ultimately unpayable mortgages? This paper develops a mesoanalysis to answer the first of these questions. This analysis traces the coevolution of banking strategies and client communities, shaped by and reinforcing patterns of racial/ethnic inequality. The second question is answered by showing how unequal power relations impacted patterns of subprime lending. Consequences for gender inequality in credit markets are also briefly discussed. -- Associated Program: Monetary Policy and Financial Structure -- Related Topic(s): Discrimination Ethnicity Foreclosures Mesoanalysis Race Redlining Subprime mortgage crisis -- downloaded pdf to Note
paper  US_economy  Great_Recession  financial_crisis  bubbles  housing  securitization  banking  shadow_banking  racism  inequality  power-asymmetric  discrimination  ethnic_ID  redlining  financial_economics  social_sciences  interdisciplinarity  financial_access  downloaded 
october 2014 by dunnettreader
Long-term unemployed struggle as economy improves, Rutgers study finds - September 2014
National survey: 20 percent of workers laid off 5 years are still unemployed, seeking jobs – While the unemployment rate for people out of work for six months or less has returned to prerecession levels, the levels of unemployment for workers who remain jobless for more than six months is among the most persistent, negative effects of the Great Recession, according to a new national study at Rutgers. In fact, one in five workers laid off from a job during the last five years are still unemployed and looking for work, researchers from the John J. Heldrich Center for Workforce Development found. "While the worst effects of the Great Recession are over for most Americans, the brutal realities of diminished living standards endure for the three million American workers who remain jobless years after they were laid off," said Professor and Heldrich Center Director Carl Van Horn, who co-authored the study with Professor Cliff Zukin of Rutgers' Bloustein School of Planning and Public Policy. "These long-term unemployed workers have been left behind to fend for themselves as they struggle to pull their lives back together."
US_economy  Great_Recession  unemployment  mobility  inequality 
september 2014 by dunnettreader
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