dunnettreader + production   12

John Quiggin - Peak paper | Crooked Timber Feb 2016
I’ve recently published a piece in Aeon, looking at the peak in global paper use, which occurred a couple of years ago, and arguing that this is an indication…
Instapaper  economic_growth  economy-structure  industry  industrialization  commodities  Information_Economy  productivity  production  natural_resources  energy  energy-markets  environment  climate  consumption  international_political_economy  from instapaper
february 2016 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
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
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
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
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
Rostam J. Neuwirth - The Creative Industries as a New Paradigm for Business and Law: Of 'Smart Phones' and 'Smarter Regulation' :: SSRN June 13, 2014
University of Macau - Faculty of Law, E32 -- Fourth Biennial Global conference of the Society of International Economic Law (SIEL) Working Paper No. 2014/05. **--** From a macroeconomic perspective, the historical evolution of trade and commerce has been closely entangled in a two-way or paradoxical relationship with the evolution of laws, where one is inextricably linked to the other and both mutually influence each other. At the microeconomic level, the same can be said about the relationship between businesses or industries and their underlying technologies. Recent changes, and notably the accelerated pace by which we recognize change, has led to a widespread trend of “convergence”. Convergence has been recognised in different contexts, namely in languages, technologies, and industries as well as regulatory matters. The objective of this article is thus to first trace and describe convergence from a linguistic, technological and industrial perspective. Subsequently, in order to ponder the future regulatory challenges in the regulation of global trade under the aegis of the World Trade Organization (WTO), it will focus on the question of whether technological and industrial convergence should be met by a similar trend towards regulatory convergence through regulatory harmonisation. Put differently, it will critically evaluate the present situation of regulatory divergence in the form of regulatory diversity and regulatory competition with a view of contributing to the debate of improving global trade regulation in the 21st century. - Number of Pages: 21 -- didn't download
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  global_governance  WTO  regulation  administrative_agencies  administrative_law  technocracy  accountability  public_policy  legal_culture  regulation-harmonization  technology  technology_transfer  economic_culture  creative_economy  political_participation  globalization  global_system  manufacturing  production  change-social  EF-add 
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
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
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

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