The concept of economic rent is among the oldest in political economy. This reflects the fact that economies have always included parties whose income appears more parasitic than productive. The concept of rent-seeking refers to the efforts of parties seeking to secure such income by way of gaining influence over economic regulation or otherwise gaining favors from government. In spite of its intuitiveness, however, it has proven difficult to precisely distinguish rent from other categories of (...) income. This chapter seeks to acquaint readers with this problem. The privatization of incarceration is then supplied as an important case study in current rent-seeking behavior. (shrink)

Rather than answering the broad question, ‘What is a just income?’, in this essay I consider one component of income—economic rent—under one understanding of justice—as giving people what they deserve. As it turns out, the answer to this more focused question is ‘no’. People do not deserve their economic rents, and there is no bar of justice to their confiscation. After briefly covering the concept of desert and explaining what economic rents are, I analyze six types (...) of rent and show that each is unjustified from the point of view of desert. I conclude by drawing some political and economic lessons from the preceding analysis, and by describing how these considerations can create a more just and efficient economy. (shrink)

In this article I defend the claim that subsidies for university education should be substantially reduced. The normative justification for this conclusion derives from a theory of distributive justice called the Compensation Theory of Income Justice, which is most easily understood as a normative version of the positive economic theory of compensating differentials. Relying on the distinction between incentives and economic rents, and after considering two ‘received opinions’ about why large income differentials exist in modern societies, I note (...) that substantial portions of above-average incomes are likely to be artificial monopoly rents, rather than incentives or natural monopoly rents. Under the Compensation Theory of Income Justice the earning of artificial monopoly rents is not justified. Since subsidisation of university education fees increases lifetime artificial rents, the theory would recommend such subsidies be substantially reduced. I defend this conclusion against objections, the most notable of which is the view that university subsidies help to improve equality of opportunity to university education. I explain how it is possible to maintain the laudable aim of providing equality of opportunity while reducing the subsidisation and, as a consequence, the lifetime artificial rents. (shrink)

David Gauthier's Morals by Agreement is an impressive — indeed, daunting — exercise in contractarian moral and political philosophy. The primary purpose of his treatise is to explicate practical rationality as constrained maximization and morality as compliance with these constraints. Gauthier offers an account of which constraints on straightforward utility maximization each rational individual will be prepared to accept and comply with on the condition that other individuals also will accept and comply with them as well as an explanation of (...) why compliance with those constraints counts as morality. However, although Morals by Agreement is in the great tradition of Hobbesian moral and political theorizing, Gauthier's morality by agreement does not begin with the Hobbesian state of nature. Gauthier does not start by envisioning a Hobbesian war of all against all which has been generated by rational individuals, each pursuing his own maximum utility, and then asking what constraints on this no-holds-barred utility maximization would be mutually advantageous and therefore mutually rational. (shrink)

Universal Basic Income (UBI) can serve as a beneficial public policy to reduce poverty and inequality, yet a great challenge is how to fund it. This article offers a roadmap for fully funding UBI in a manner that: eliminates poverty; bolsters the middle-class; eliminates the stigma and government bureaucracy of social welfare programs; reduces ever-expanding inequality; initiates a path to meeting climate change goals; reduces speculation; and increases fairness and opportunity in the tax code. As stand-alone policies, these revenue proposals (...) are valuable correctives in their own right. If the entire package of UBI and funding sources were in effect, society (and American capitalism) would be on a more stable, equitable, and environmentally sustainable footing. (shrink)

Contemporary, technoscientific capitalism is characterized by the configuration of a range of “things” as assets or capitalized property. Accumulation strategies have changed as a result of this assetization process. Rather than entrepreneurial strategies based on commodity production, technoscientific capitalism is increasingly underpinned by rentiership or the appropriation of value through ownership and control rights, monopoly conditions, and regulatory or market devices and practices. While rentiership is often presented as a negative phenomenon in both neoclassical and Marxist political economy literatures—and much (...) in between—in this paper, I conceptualize rentiership as a technoeconomic practice and process framed by insights from science and technology studies. So, rather than a problematic “side effect” of capitalism, the concept of rentiership enables us to understand how different forms of value extraction constitute, and are constituted by, different forms of technoscience. This allows STS to contribute a distinctive analytical approach to ongoing debates in political economy about economic rents and rent-seeking. (shrink)

To Aaron Pacitti and Michael Cauvel–whose journal article, “Rent-Seeking Behavior and Economic Justice: A Classroom Exercise” broadly argues that “understanding the [complexities] of rent-seeking behavior helps fill the gap between economics and politics”–the varieties of rent are wide and, therefore, can only be described in their category-specific positions. I will discuss three of these categories in more detail below, but for now, I propose that a useful working grasp of economic rent involves “the amount (...) paid to the owner of a factor of production over the cost that is to be necessarily incurred on utilizing such elements in the production process.” In math terms, ‘economic rent’ equals the agreed-upon-amount paid by the consumer (when that amount far exceeds the market value of the product) minus the cost spent by the producer to make the product (when that cost is far below the typical amount to produce the product). Originally, the concept of economic rent concerned land ownership and the production of natural goods. Two major economists, Adam Smith and David Ricardo, offered insights into the general makeup and logic of what they called, the rent of land and simply rent, respectively. (shrink)

In this article, I develop the point that whereas talent is the basis for desert, talent itself is not meritocratically deserved. It is produced by three processes, none of which are meritocratic: talent is unequally distributed by the rigged lottery of birth, talent is defined in ways that favor some traits over others, and the market for talent is manipulated to maximally extract advantages by those who have more of it. To see how, we require a sociological perspective on (...) class='Hi'>economic rent. I argue that talent is a major means through which people seek rent in modern-day capitalism. Talent today is what inherited land was to feudal societies; an unchallenged source of symbolic and economic rewards. Whereas God sanctified the aristocracy’s wealth, contemporary privilege is legitimated by meritocracy. Drawing on the work of Gary Becker, Pierre Bourdieu, and Jerome Karabel, I show how rent-seeking in modern societies has come to rely principally on rent-definition and creation. Inequality is produced by the ways in which talent is defined, institutionalized, and sustained by the moral deservingness we attribute to the accomplishments of talents. Consequently, today’s inequalities are as striking as ever, yet harder to challenge than ever before. (shrink)

Agribusiness corporations primarily involved in providing livestock feed—colloquially known as the “ABCD” (Archer Daniels Midland (ADM), Bunge, Cargill, and the Louis Dreyfus Company)—have begun to enter the fishing industry around the world. I argue that this recent entry of agribusiness multinationals in aquaculture, focusing particularly on Cargill, arises to take advantage of strategic opportunities to proliferate, or create links with respect to feed production and development within value chains. Concerning such opportunities, as I document, Cargill first leveraged its access to (...) cheap, overproduced grains in the 1990s, developing ways to insert corn and soy into what it calls “aquafeed.” Next, the multinational firm began proliferating links within fishing industry value chains in the form of introducing new technical assistance services, as well as creating feed supplements and additives. As I explain, these efforts to proliferate links in the supply chain exist as opportunities to charge rents, or surplus profits, which is possible because Cargill retains the right to control the new products and services. An additional link in the chain includes how the corporation has expanded its role in the global food system from its past as an intermediary, to engaging consumers in direct ways by attempting to create their preferences. I conduct my analysis of Cargill’s corporate strategy by focusing on reporting from the fishing industry publication, Aquafeed News, detailing developments from 2000 through 2023. (shrink)

The central concern of this essay : the emergence of the figure of the « wage shareholder ». There is nothing new about this figure in and of itself if one thinks of wage differentials linked to social hierarchies determined by the professions. Or again if one thinks of wage-earning shares obtained by sections of the wage-earning system at the expense of feminine, precarious, and immigrant wage earners. What is new is that today the wage share results from a double (...) process of wage individualization and « socialization of capital ». It is thus of a new nature, and its emergence therefore renders more indistinct the boundaries that separate the main categories of revenue : wage, annuity and profit. In this article, it is less a question of accounting for the figure of the wage-earning shareholder from a strictly economic point of view as to see it in terms of a double process that gives to it the functions proper to a machine producing subjectivity that unite the dangerous link between cognitive capitalism and neoliberalism. (shrink)

Rent control is an economic abomination. It diverts investments away from residential rent units, it leads to their deterioration, it is responsible for urban decay such as in the South Bronx, it does not help poor tenants, it is a horrendous means of income redistribution. Yet this economic regulation is beloved of intellectuals (hot beds of pro rent control sentiment are Berkeley, Ann Arbor and Cambridge) particularly in the legal and philosophical communities. The present article (...) is dedicated to an exploration and rejection of the arguments in behalf of rent control which emanate from this source. (shrink)

The distributive justice literature has recently formulated several tax proposals, with limitarians or property-owning democrats proposing new or higher taxes on wealth or capital income intended to decrease the growing wealth gap. This essay joins this debate on inequality and redistributive taxation through the lens of the “benefit principle for public policy.” This principle says that specific rules and institutions are acceptable to the extent that they create benefits for all individuals in society, or at least don’t make anyone worse (...) off. This benefit principle opposes wealth accumulation to the extent that wealth was generated through rent-seeking—that is, income unrelated to economic productivity, which is not embedded in mutually beneficial exchanges. I maintain, however, that ruling out rent-seeking requires not ex post taxation, but primarily a more “predistributive corrective policy,” that is, reconfiguration of market institutions to prevent wealth accumulation through rent-seeking in the first place. The alternative response is, thus, not to tackle inequality as such but to reform the market to promote the occurrence of mutually beneficial exchange. (shrink)

Whenever you have a situation in which a person or group is in power over a community, some in the community will seek to obtain special favors at the expense of all others in the community. We are all familiar with this situation from our school days where some students would seek special favors -- like a high grade -- at the expense of the other students. Such behavior in the political/economic world is called..

Political corruption imposes substantial costs on shareholders in the U.S. Yet, we understand little about the basic factors that exacerbate or mitigate the value consequences of political corruption. Using federal corruption convictions data, we find that firm-level economic rents and monitoring mechanisms moderate the negative relation between corruption and firm value. The value consequences of political corruption are exacerbated for firms operating in low-rent product markets and mitigated for firms subject to external monitoring by state governments or monitoring (...) induced by disclosure transparency. Our results should inform managers and policymakers of the tradeoffs imposed on firms operating in politically corrupt districts. (shrink)

Liberal thought (in the sense of classical liberalism) is based on the juxtaposition of consent to coercion. Autocracy and slavery were seen as based on coercion whereas today's political democracy and economic 'employment system' are based on consent to voluntary contracts. This paper retrieves an almost forgotten dark side of contractarian thought that based autocracy and slavery on explicit or implicit voluntary contracts. To answer these 'best case' arguments for slavery and autocracy, the democratic and abolitionist movements forged arguments (...) not simply in favour of consent, but arguments that voluntary contracts to legally alienate aspects of personhood were invalid 'even with consent' – which made the underlying rights inherently inalienable. Once understood, those arguments have the perhaps 'unintended consequence' of making the neo-abolitionist case for ruling out today's self-rental contract, the employer-employee contract. The paper has to also retrieve these inalienable rights arguments since they have been largely lost on the Left, not to mention in liberal thought. (shrink)

This paper explores changing production relations in agriculture in context of increasingly widespread and longer-duration male outmigration, as against previous, short-duration and seasonal migration. It investigates how de facto women-heads of households (WHHs) are changing a resilient crop-sharing system in absence of adequate access to productive assets, formal training or experience in farming, and while contributing labour to farming and coping with gendered demands on their time. Based on qualitative inquiry in one of the poorest parts of South Asia, the (...) Eastern Gangetic Plains, the paper shows that a section of WHHs are replacing sharecropping arrangements with fixed-value rental arrangements that resemble commercial contracts. The paper ends with a discussion on the implications of this emerging development. (shrink)

This article shows how research on the social structure of markets may contribute to the analysis the growing income inequality in contemporary capitalist economies. The author proposes a theoretical link between embeddedness and social stratification by discussing the role of institutions and networks in markets for the distribution of economic profits between firms. The author claims that we must understand profit and free competition as opposites, as economic theory does. In the main part of the article the author (...) illustrates six typical mechanisms of rent extraction from networks or formal and symbolic rules that embed markets. They emerge from material as well as symbolical access to and influence on the orientation of other market actors. Social structures in markets lead to unequal chances for rent extraction, even if actors produce them for coordination rather than for accumulation purposes. This is how market sociology and theory of capitalism can be linked more closely. (shrink)

This article examines how corporate social responsibility (CSR) can serve as an external source of rents for governments that depend on foreign financing for state-building and development. The strategic, instrumental use of CSR has been overlooked in previous research on governments and CSR, especially in the Global South. To understand how CSR can serve as a lever for rents, the concept of “extraversion” is introduced to describe the way in which rent-seeking African governments instrumentalize their asymmetric external relations for (...) political and private benefit. The connection between CSR and rent-seeking is analyzed through a case study of large gas investments in Tanzania. The article finds that the government has set up regulation that enables local and central government authorities to appropriate, mediate, reclaim, or possibly trick CSR practices to gain rents. Based on the study, two contributions are made to the literature on CSR and governments. First, the instrumental use of CSR in the Global South is added to the variety of perspectives that can be taken when studying government agency. Second, CSR is conceptualized as a potential stream of rents for governments to exploit. The article ends with discussing that the outcome of CSR in a rent-seeking environment depends on whether the leveraged resources are managed well to support peaceful and locally beneficial economic development or whether they serve private accumulation through corruption. (shrink)

The philosophy of economics has been largely guided by analytic philosophy. Even Marx has been appropriated without much scandal by economists who separate his scientific contributions from his politics. In this article, I place philosophical hermeneutics (i.e., Heidegger and Ricoeur) in dialogue with the conventional understanding of land as a factor of production. The history of political economy misunderstands land as an entity classifiable as property and capital. I argue instead that land's ontological role, deriving from Heidegger's concept of earth, (...) suggests that economics needs to account for it in a new way according to David Ricardo's notion of land rent. (shrink)

This article provides an account of rent-seeking in relation both to economic policies and political practices in South Africa. The article draws attention to continuities and similarities in this regard between the two distinct periods of nationalist rule from 1948 to 1994 and from 1994 to 2012. The economic dimensions that are specifically addressed are industrial policy, the labour market, state administration and tenders and service delivery and welfare. The more specifically political dimensions addressed include the electoral (...) system, the relationship between constitutionalism and the judiciary, and the rule of law. The article highlights the dangers posed by excessive rent-seeking and especially its negative implications for redistribution, economic growth and the consolidation of democracy in a highly unequal society. (shrink)

Many public debates about the societal significance and impact of agriculture are usefully framed by Paul Thompson’s distinction between the “agrarian” and the “industrial vision.” The key argument of the present paper is that the ongoing debate between these visions goes beyond academic philosophy and has direct effects on the political economy of agriculture by influencing the scope of rent-seeking activities that are undertaken primarily in the name of the agrarian vision. The existence of rent-seeking activities is shown (...) to reflect the fact that the agrarian vision is not universally supported, which is certainly true of the industrial vision as well. The key argument of the present paper is that these two philosophical visions of agriculture are not radically incongruent. Rather, they share a common ground within which they are even mutually supportive. If agricultural policy making is oriented toward this common ground, it may reduce overall dissatisfaction with the resulting institutional regime of agricultural production. Such an agricultural policy may also stimulate the emergence of new business practices that not only enable efficient agricultural production but also minimize negative ecological impact and preserve cultural landscapes. (shrink)

The paper provides an economic interpretation of legal culture. Drawing on analogies from other products and services markets, I argue that combinations of legal language, procedures and conceptual structures constitute a network which, mainly through cost considerations, come to occupy a dominant position in particular jurisdictions. The facts that a particular legal culture will be adopted by political rulers and that practising lawyers can both control entry to the profession and ‘capture’ law‐making processes suggest that legal culture networks may (...) be protected against competition. To the extent that they have monopolistic power, lawyers can exploit the key features of legal culture to extract rents: the law used can be more formalistic, more complex and more technical than is optimal. Whether the monopolistic power of a particular legal culture is sustainable depends on the relative strength of potential competitive forces. These can take the form of alternative cultures becoming available for particular branches of the law, thus partially dismantling the network, or through transfrontier transactions opening up the network to competition from foreign systems. (shrink)

A review of economic thought since the sixteenth century reveals two streams of economic discourse, dirigisme and laissez-faire. Starting with the mercantilists, dirigiste approaches to economics embrace the real-world complexity of commodities that often differ greatly in attributes that are growth- and rent- augmenting. Most importantly, this means that free trade is likely to be polarising: it concentrates growth- and rent-augmenting commodities in countries that already enjoy a head start in these commodities. Advanced countries, therefore, support (...) laissez-faire, while lagging countries tend to support dirigisme. In order to rationalise their laissez-faire stance, advanced countries began developing a new economic discourse that strips commodities of their complexity. The foundations for this ideological reconstruction of economics were first laid by Adam Smith; this process eventually reached its climax with the neoclassical economists who stripped commodities down to one attribute: their capital intensity. In opposition to this laissez-faire economics, other writers, supportive of the interests of lagging countries, brought complexity back into their economic discourse; they argued that lagging countries had a fighting chance of catching up to advanced economies only by indigenising a growing array of growth- and rent-augmenting commodities. (shrink)

" Seuls les extrémistes sont cohérents... " Rothbard et l'Ecole austro-américaine dans la querelle de l'herméneutique.

One of the goals of happiness research is to identify the key factors that influence it. Therefore, the present research is designed to examine the determining factors of subjective wellbeing in Pakistan. The present research is conducted by collecting the data of 1,566 households in Punjab, Pakistan, using the ordered logit and tobit model. The findings of this research confirm that income, education, government effectiveness, no perceived corruption, and perceived institutional quality improve wellbeing, while lower trust in family and friends, (...) poor health status, living on rent, and dissatisfaction with the services of hospitals lower the level of wellbeing. But individuals with more social ties, who face barriers in health services, live more happily satisfied with their lives. Crime victimization and worrisome terrorism also lower the level of SWB. Findings of research strongly emphasize policymakers and government institutions to improve their quality and take essential measures for improving the governance structure. (shrink)

Drawing on a collection of Islamicate and Russian-language documentary materials presently held in Tashkent, I explore how the administration of Tashkent’s Kūkeldāš Madrasa oversaw and regulated the leasing-out of the madrasa’s waqf-endowed trade and artisanal establishments. By tracing shifts in the administration of leasing arrangements we may begin to illustrate a number of other, larger shifts in socio-economic practice over the course of the madrasa’s long existence, reflecting the consequences first of the rise of the Khoqand Khanate and secondly (...) of the Russian conquest and the establishment of the Turkestan Governorship-General. By attending to patterns of lease arrangements over the history of a single waqf establishment, we may begin to discern shifting patterns of practice which are all too often obscured when viewed against a wider canvas. (shrink)

Economic analysis is being applied by scholars to an increasing range of legal problems. This collection brings together some of the main contributions to an important area of this work, the economics of contract law. The essays and illuminating notes, questions, and introductions provided by the editor outline the Law and Economics framework for analyzing contractual relationships. The first two parts of the book present a number of useful concepts - adverse selection, moral hazard, and rent seeking - (...) and a general way of thinking about the economics of contracting and contract law. The remainder of the book considers a wide range of topics and issues. The recurring theme is that contracting parties want to assign the responsibility for adjusting to particular contingencies to the party best able to control the costs of adjustment. The adjustment problem is exacerbated by the fact that the parties might engage in various types of strategic behavior, such as opportunism, moral hazard, and rent-seeking. Many contract law doctrines can best be understood as attempts to replicate how reasonable parties might resolve this adjustment problem. (shrink)

Neoclassical and Austrian/evolutionary economic paradigms have different implications for integrating corporate social responsibility (corporate citizenship) and competitive strategy. porter's "Five Forces" model implicitly rests on neoclassical theory of the firm and is not easily reconciled with corporate social responsibility. Resource-based models of competitive strategy do not explicitly embrace a particular economic paradigm, but to the extent their conceptualization rests on neoclassical assumptions such as imperfect factor markets and profits as rents, these models also imply a trade-off between competitive (...) advantage and corporate social responsibility. Differences in Austrian/evolutionary economic model's assumptions about equilibrium, profits, and other economic concepts allow this paradigm to embrace alternative views of strategy such as the activities or dynamic capabilities views. These alternative views of strategy focus on learning and adaptation; they align more easily with corporate social responsibility. In practice this alignment comes about because social engagement facilitates the learning and adaptation that are a source of competitive advantage. Among the many business arguments for CSR such as improved employee morale/productivity or brand differentiation, this view prioritizes innovation. (shrink)

The manuscripts of Cicero's De oratore divide into two families: mutili and integri. The oldest representatives of the mutilated family are Avranches 238 , Erlangen 380 , and London, Harley 2736 . A and H are independent of each other, and the best witnesses to the text of the lost archetype . E too is considered to be an independent witness. Since the work of E. Ströbel, dating from the early eighties of the last century, the view has been generally (...) held that E, though closely related to A, is not a descendant of it but a copy of a ‘gemellus’ of A. The stemma devised by Ströbel has remained essentially the same to the present day. (shrink)

This book presents the main economic argument developed by Marx in the three volumes of Capital in a coherent and comprehensive manner. It also delves into three long-standing debates in Marxist political economy: the transformation problem, the Okishio theorem, and theories of exploitation and oppression. Starting with discussions of methodology, including dialectics and historical materialism, the book explains key concepts of Marxist political economy: commodity, value, money, capital, reserve army of labour, accumulation of capital, circuit of capital, reproduction schemas, (...) prices of production, profit, interest and rent. Scholars of economics, sociology, geography, political science, anthropology, and other kindred disciplines, will find here an accessible yet rigorous treatment of Marxist political economy. (shrink)

This article provides an ISCT analysis of commercial bribery focused on transaction cost economics. In the language of Antitrust, commercial bribery is a form of vertical arrangement subject to the same efficiency analysis that has found other vertical arrangements potentially beneficial to consumers. My analysis shows that actions condemned as commerical bribery in the Honda case may well have benefited Honda's dealer network once promotional free riding and other forms of rent seeking by dealers are considered. I propose that (...) the term "commercial bribery" should be avoided until after an ISCT analysis shows that the community is likely to have been harmed. The term "third-party payments" is a more ethically neutral term with which to begin the analysis. (shrink)

This article provides an ISCT analysis of commercial bribery focused on transaction cost economics. In the language of Antitrust, commercial bribery is a form of vertical arrangement subject to the same efficiency analysis that has found other vertical arrangements potentially beneficial to consumers. My analysis shows that actions condemned as commerical bribery in the Honda case (1996) may well have benefited Honda's dealer network once promotional free riding and other forms of rent seeking by dealers are considered. I propose (...) that the term "commercial bribery" should be avoided until after an ISCT analysis shows that the community is likely to have been harmed. The term "third-party payments" is a more ethically neutral term with which to begin the analysis. (shrink)

The paper questions some of the premises in studying academic spin-offs in developed countries, claiming that when taken as characteristics of ‘academic spin-offs per se,’ they are of little help in understanding the phenomenon in the Eastern European countries during the transitional and post-transitional periods after 1989. It argues for the necessity of adopting a path-dependent approach, which takes into consideration the institutional and organisational specificities of local economies and research systems and their evolution, which strongly influence the patterns of (...) spin-off activity. The paper provides new findings and original arguments in support of Balazs’ seminal theses (Balazs 1995, 1996) about the emergence of academic spin-offs during the early transition. It reveals key economic and policy mechanisms bearing on academic entrepreneurship in Eastern Europe, such as the tensions between economic and political nomenclatures of former Communist Parties, where the dismantling or preservation of the power of political nomenclature resulted in different patterns of development—rapid reforms in the ‘first wave’ of EU accession countries or the establishment of rent-seeking and assets-stripping economies in countries like Bulgaria and Romania, making the transition period especially difficult. In the latter, a specific economic environment emerged, unknown in Western Europe and in the ‘champions’ of transition—such as suppression of the authentic entrepreneurship in a number of economic sectors, disintegration of corporate structures, etc. Thus, the paper reveals the common ground behind the two conflicting tendencies in post-socialist academic spin-offs, partially outlined in other research (Simeonova 1995; Pavlova 2000): as an authentic form of academic entrepreneurship grasping the opportunities opened up by the economic crisis and compensating failures in science and technology policy on the one hand, and as specific rent-seeking strategy draining valuable public assets on the other (the latter, in turn, boosting the negative attitudes in local scientific communities). The paper provides new findings about the evolution of the academic spin-offs in Bulgaria along the two polar trends and their positive and negative repercussions on parent research institutions. The results were achieved in the PROKNOW Project, EC 6th Framework Program. (shrink)

Economists evaluate their models in terms of credibility. For example, Rothschild and Stiglitz argued from a model of a completive insurance market that under the “plausible” (632) assumption of information asymmetry, one can “credibly” infer the non-existence of equilibria in specific situations – despite the fact that, as they admit, the real ‘market … for insurance is probably not competitive’ (648).1 Another example is Richard Thaler’s column on anomalies of (micro-) economic theory. From 1987 to 2001, he headed every (...) article with the following sentence: ‘An empirical result is anomalous if it is difficult to rationalize, or if implausible assumptions are necessary to explain it within the paradigm’.2 Or, yet another example, Hans Lind concludes in a survey of mathematical models of rent control that ‘what is shown in the model[s]…is just one type of argument…for why a certain story is more credible than a competing story. (shrink)

Transition has not always been a success story. In some cases failure was due to the introduction of topdown legislature, which was not always compatible with the existing informal rules of the game. In other cases transition was just a euphemism for a fight for power with little substantial change.Still, most Western analysts indulged in analysing all East-European economies according to a rather standard pattern. This paper explains this approach by referring to the need to maintain rentseeking policies in the (...) West, to create new rents in the East. Western governments complied with the constructivistic view willingly, especially in the EU area, for social engineering was instrumental in order to acquire and expand consensus on the principles of state interference.La transition n’a pas toujours été une réussite. Dans certains cas, les échecs ont été dus à l’ instauration d’un corps législatif directif souvent incompatible avec les règles de jeu informelles. Dans d’autres cas, la transition fut un simple euphémisme pour une lutte pour le pouvoir, peu susceptible de donner lieu à des changements significatifs.De plus, la plupart des chercheurs occidentaux ont analysé les économies de l’Europe de l’Est avec les outils du modèle néoclassique standard. L’auteur explique cette orientation en invoquant la volonté de maintenir les politiques de recherche de rente à l’Ouest, et d’en créer de nouvelles à l’Est. Les gouvernements occidentaux ont volontairement cédé à une vision constructiviste, notamment dans la zone de l’Union Européenne, car l’ingénierie sociale a été un instrument majeur dans la réalisation et l’extension du consensus autour des principes d’interventions étatiques. (shrink)

Todos los particulares pueden obtener ingresos extra y recuperar el poder adquisitivo perdido en el contexto de la crisis, anuncia Airbnb. Este estudio analiza la forma que adquiere el trabajo de los anfitriones -las personas que alquilan su vivienda o habitación- en Airbnb. Se plantea que la actividad de los anfitriones adquiere la forma de trabajo abstracto, pero que es un trabajo que se articula y se desarrolla sobre la propia vida y cotidianidad de los anfitriones: sobre la esfera reproductiva (...) de la persona y sobre actividades no económicas. Para que los anfitriones pueden maximizar los beneficios que obtienen, adoptan la forma de empresarios de sí mismos. Como resultado, los anfitriones reducen su precariedad económica pero la actividad de hospedar en Airbnb les genera nuevas formas de precariedad vital.Everyone can earn extra income and recover the lost consumption power due to the crisis, adevertises Airbnb. This study analyzes the form that the work of Airbnb hosts - people who rent their home or room on the platforma- acquires. It is stated that the activity of the hosts is a type of abstract labour, but that develops over the life of the hosts: over the reproductive sphere of the person and over non-economic activities. In order for hosts to maximize the benefits they can obtain on Airbnb, they become entrepreneurs of themselves. As a result, hosts reduce their economic precariousness but the activity of hosting on Airbnb generates new ways of vital precariousness. (shrink)

Reducing health disparities and improving health outcomes are fundamental principles in global health. Environmental justice remains underrecognized and undervalued as a key driver of health dispar...