Twenty Years of Poland's Euro-Atlantic Foreign Policy During the years 1989-1991, after a deep transformation of the internal system and the international order in Europe, Poland pursued a sovereign foreign policy. The new policy had the following general goals: 1) to develop a new international security system which would guarantee Poland's national security; 2) to gain diplomatic support for the reforms conducted in Poland, including primarily the transformation of the economy and its adaption to free market mechanisms, which were designed (...) to result in economic growth; and 3) to maintain and increase the international prestige of Poland and the Poles, who had been the first to commence the struggle to create a democratic civil society in the Eastern bloc. Implementing this new concept of foreign policy, Poland entered the Council of Europe in November 1991. The following year, Warsaw started to strive for membership of NATO, which was achieved in March 1999. A few years later, Polish leaders pursued policies in which Poland played the role of a "Trojan horse" for the USA. This was manifested most clearly during the Iraqi crisis of 2003, and in the following years, particularly in 2005-2007. From spring 1990 Poland aspired to integration with the European Community; in December of the following year it signed an association agreement, which fully entered into force in February 1994. In the period 1998-2002 Poland negotiated successfully with the European Union and finally entered this Union in May 2004. In subsequent years Poland adopted an Eurosceptic and sometimes anti-EU position. The new Polish government, established after the parliamentary election of autumn 2007, moved away from an Eurosceptic policy and pursued a policy of engagement with European integration. (shrink)

The Common Agricultural Policy (CAP) of the European Community (EC) has been criticized for causing a misallocation of resources, inequitable income transfers, and enormous budgetary costs. The purpose of this paper is to examine the political economy of agriculture and agricultural policy in the EC. The results of the analysis indicate that conflicts between national political objectives and broader, community-wide concerns are important factors in the performance of EC agriculture. The pressures for reform of the CAP will lead to modification (...) of the system, but changes in EC agricultural policy are likely to be moderate because of the inherent inertia of the policy-making process. As a result, the agricultural system in the EC will probably continue to evolve in an atmosphere of crisis with most reforms directed at symptoms rather than fundamental problems. (shrink)

The Eurozone crisis has triggered profound political and economic changes across the debtor member states. This article shows how the crisis and the imposition of austerity policies by the Troika have forced Spain to pursue internal devaluation as a means of economic adjustment through the reduction of real wages, increased pressure for liberalizing labor market institutions, and given Spain’s conservative government the opportunity and cover to pursue radical neoliberal labor law reforms. Spain’s 2012 labor law reforms went well (...) beyond external demands. The crisis and the Troika’s policy demands generated mass unemployment, devastated Spain’s Socialist Party, and created the enabling conditions for economic reforms. But domestic partisan considerations led the conservative People’s Party to commandeer the crisis to weaken unions as the electoral and organizational base of the center-left opposition. The PP channeled reform into an attack on labor that decisively shifted power to employers. As organized labor relations were reduced to concession bargaining, real wages have plummeted for the vast majority of Spaniards, even as mass unemployment and economic stagnation persist. Analysis suggests the emergence of a winner-take-all economy that will have lasting consequences for the Eurozone and the European Union. (shrink)

Why does trust collapse in times of crisis? And when, instead, does it become a driver of growth, generating value? This book offers an analysis of the dynamics of trust through a sociological interpretation of the thought of John Maynard Keynes, the first economist to understand the full extent of the confidence-lever. In the context of the 2007 crisis and following recession, the innovative concept of Economy of Trust explains how trust spontaneously replaces the weakened institutional system of (...) quality assurance and control and generates value. Indeed, the deficiency of such a system has become the ideal breeding ground for the growth of the Nominal Economy: the economy that distorts the perception of reality as it widens economic and social disparities, unbalances relationships between risk and wealth in the global society and dissolves the bonds of responsibility. In this way, trust is channeled towards strong "new powers", such as hedge funds companies, rating agencies and investment banks. Within this context, only targeted policies of Economy of Trust can funnel the 'store of value' effect generated by trust towards positive intents of building social capital. (shrink)

This book investigates the struggles for hegemony, and a possible ‘crisis of crisis management’ at the core of Italy’s political economy. With a specific focus on the conflict over the 2012 labour market reform, the book also explores the country’s trajectory in the area of economic and social reproduction. It presents a framework for critical policy analysis that draws on cultural political economy and explores its potential synergies with complementary approaches such as historical materialist policy analysis and critical (...) discourse analysis. Readers will gain an understanding of crisis dynamics in the aftermath of 2008, and insights into related political reactions. The book will also help them develop the analytical tools needed to make sense of these puzzling phenomena. (shrink)

The 2008 crisis has revived debates on the relevance of laissez-faire, and thus on the role of the State in a modern economy. This volume offers a new exploration of the writings of Keynes and Friedman on this topic, highlighting not only the clear points of opposition between them, but also the places in which their concerns where shared. This volume argues that the parallel currently made with the 1929 financial crisis and the way the latter turned into (...) the Great Depression sheds new light on the proper economic policy to be conducted in both the short- and the long-run in a monetary economy. In light of the recent revival in appreciation for Keynes’ ideas, Rivot investigates what both Keynes and Friedman had to say on key issues, including their respective interpretations of both the 1929 crisis and the Great Depression, their advocacy of the proper employment policy, and the theoretical underpinnings of the latter. The book asks which lessons should be learnt from the Thirties? And what is the relevance of Keynes’ and Friedman’s respective pleas for today? (shrink)

The paper describes the main features of financial stability and the preparation of the reform of the global financial system. The mortgage crisis in the USA brought about the global financial crisis. This crisis was the result of the failure of financial regulation, including supervision, and the failure of the management of the banking industry. Therefore, the international community, including Group 20, urged the appropriate institutions to introduce a comprehensive reform of the financial sector. To avoid a (...) potential financial crisis, the creation of the framework for financial stability would be needed. In line with this, the paper examines the interaction between both monetary and fiscal policies, including micro-and macroprudential policies and their instruments. Although still is going on discussion on definition of macroprudential policy, there is a generally accepted opinion that macroprudential policy should limit systemic risk. In addition, this policy should focus on interaction between the financial system and the real economy. Furthermore, micro- andmacroprudential policy should use appropriate instruments in dealing with the systemic risk. In this regard, the article undescores that put in a place the frameworkfor financial stability will create favorable conditions for decision-makers how they should to respond to financial imbalances. The paper also pointed out some potential economic costs related to the implementation of the overall international reform of the financial sector. Based on comprehensive literature study, the author came to the conclusion that despite the fact that there will be some economic costs related to implementing the overall regulatory reform of the financial sector, the main benefit from the long-term perspective will be avoiding the potential financial crisis in the future. To fulfill all the requirements for global financial reform, international cooperation will be needed. (shrink)

In a world of partially overlapping and partially conflicting interests there is good reason to doubt that self-seeking behaviour at the micro-level will spontaneously lead to desirable social outcomes at the macro-level. Nevertheless, some sophisticated economic writers advocating a laissez-faire policy prescription have proposed various 'invisible hand' mechanisms which can supposedly be relied upon to 'educe good from ill'. Smith defended the 'simple system of natural liberty' as giving the greatest scope to the unfolding of God's will and the working (...) out of 'natural' providential processes free of interference by 'artificial' state intervention - the expression not of divine order but of fallible human reason. Hayek, adopting a similar policy stance, based it in an evolutionary process in which those institutional forms best adapted to reconciling individual interests would, he believed, spontaneously be selected for in the inter-group struggle for survival. Keynes shares the holistic approach of Smith and Hayek, but without their reliance on invisible hand mechanisms. If spontaneous processes cannot be relied upon to generate desirable social outcomes then we have to take responsibility for achieving this ourselves by establishing the appropriate institutional framework. Keynes takes a historical view of the role of capitalism and analyses its pathology as rooted in what we would now refer to as a multi-player prisoners' dilemma. The paper draws out the significance of his methodological standpoint here. Keynes's policy standpoint assigns a critical role to his own class, the 'educated bourgeoisie' in the reform process he maps out. A distinction, but also an intimate connection, is highlighted between, on the one hand, micro-level individualism (the 'Manchester System, and, on the other, the macro-level collective action ('planning') required to preserve it. Finally Keynes is considered in relation to the themes of laissez-faire, holism, reductionism, providentialism and the invisible hand. (shrink)

Keynes's theory of interest is central to his broader argument. However, short‐run policy, which takes the so‐called normal rate of interest as given and aims at affecting the prevailing rate, must be distinguished from long‐run reform, which aims at changing the normal rate. The low demand that Keynes associated with high interest was believed to be inherent in a decentralized, consumption‐oriented economy. Consequently, he advocated reform in the direction of central control. Despite his “moral and philosophical” agreement with Hayek's Road (...) to Serfdom, Keynes differed fundamentally from Hayek in terms of their contrasting perceptions of the market's shortcomings and their judgments about the government's potential for improving the economy's performance. (shrink)

The Great Financial Crisis that broke in 2008 and the Great Recession that followed has led many to question the very structure of contemporary economies. Some argue that the economic model of the past forty years is now broken. Criticism has also been directed at the orthodoxies of economics. For example, neoclassical equilibrium economics, the mainstream economics of the day, is accused of failing to understand some of the most basic aspects of the modern economy, of supporting policies that (...) have led to the economic breakdown, and of failing to see the crisis coming. Consequently, heterodox thinking in economics is getting a hearing as never before. Heterodox economics offers itself as the requisite radical reconstruction of the science of economics and also proposes policies for the radical reconstruction of the major economics.Yet to talk of the reconstruction of the modern market economy is at the same time to raise the ethical question: what shape ought the market economy to take? Heterodox economics may acutely analyse the inadequacies of real economies and propose plausible reforms, but as an essentially descriptive science there will be limits on its ability to state what ought to be. Rather, what is required seems to be a systematic prescriptive ethics. In other words, recent events in the world of economics have provided an opening for what ethical philosophy should be best at providing. Determining whether a specific ethical philosophy, to be identified shortly, has the capacity to address the questions raised by heterodox economics is the task of this paper. (shrink)

ABSTRACT Economists not only failed to anticipate the financial crisis; they may have contributed to it—with risk and derivatives models that, through spurious precision and untested theoretical assumptions, encouraged policy makers and market participants to see more stability and risk sharing than was actually present. Moreover, once the crisis occurred, it was met with incomprehension by most economists because of models that, on the one hand, downplay the possibility that economic actors may exhibit highly interactive behavior; and, on (...) the other, assume that any homogeneity will involve economic actors sharing the economist’s own putatively correct model of the economy, so that error can stem only from an exogenous shock. The financial crisis presents both an ethical and an intellectual challenge to economics, and an opportunity to reform its study by grounding it more solidly in reality. (shrink)

This article, which will appear in three parts over three issues of Historical Materialism, presents a broad analysis of the political economy and dynamics of social change during the first year of the Evo Morales government in Bolivia. It situates this analysis in the wider historical context of left-indigenous insurrection between 2000 and 2005, the class structure of the country, the changing character of contemporary capitalist imperialism, and the resurgence of anti-neoliberalism and anti-imperialism elsewhere in Latin America. It (...) considers, at a general level, the overarching dilemmas of revolution and reform. These considerations are then grounded in analyses of the 2000–5 revolutionary epoch, the 18 December 2005 elections, the social origins and trajectory of the Movimiento al Socialismo as a party, the complexities of the relationship between indigenous liberation and socialist emancipation, the process of the Constituent Assembly, the political economy of natural gas and oil, the rise of an autonomist right-wing movement, US imperialism, and Bolivia's relations with Venezuela and Cuba. The central argument is that the economic policies of the new government exhibit important continuities with the inherited neoliberal model and that advancing the project of indigenous liberation and socialist emancipation will require renewed self-activity, self-organisation and strategic mobilisation of popular left-indigenous forces autonomous from the MAS government. (shrink)

Africa is undergoing considerable political, economic and labor market reforms. In this context, education and training stands literally at a crossroads. In the past, it has been oriented toward mass production emphasizing numbers and quantities rather than skills and quality. The primary clientele of the universities were the state organs, local governments, state-controlled cooperatives, commissions and mass organizations. The universities, though frequently in conflict with the state, were very much part of the predominant bureaucratic command economies. As part of the (...) command system the market had to go to them; they did not have to reach out to the market. The current economic crisis and its subsequent reforms have turned the wheel of fortune against the state and the universities. Financial and employment cuts cannot sustain the traditional levels and practices of employment in the public sector. As the roles of the state and the private sector change, the mission, orientation and future of the universities, university staff and their graduates cannot afford to remain what they used to be. This raises the question of the extent to which the university education system of any country in the region is ready for change? The present study undertakes to identify the mechanisms for reducing state regulation of the university curricula and increasing the acceptability, relevance, reliability and dynamism of university education to the market and nonmarket, thereby increasing the capability of university graduates to be more readily employable in various sectors and, where not directly employable, to be able to employ themselves in profitable and sustainable activities. (shrink)

Economists not only failed to anticipate the financial crisis; they may have contributed to it—with risk and derivatives models that, through spurious precision and untested theoretical assumptions, encouraged policy makers and market participants to see more stability and risk sharing than was actually present. Moreover, once the crisis occurred, it was met with incomprehension by most economists because of models that, on the one hand, downplay the possibility that economic actors may exhibit highly interactive behavior; and, on the (...) other, assume that any homogeneity will involve economic actors sharing the economist’s own putatively correct model of the economy, so that error can stem only from an exogenous shock. The financial crisis presents both an ethical and an intellectual challenge to economics, and an opportunity to reform its study by grounding it more solidly in reality. (shrink)

This book analyses the evolution of the French model of capitalism in relation to the instability of socio-political compromises. In the 2010s, France was in a situation of systemic crisis, namely, the impossibility for political leadership to find a strategy of institutional change, or more generally a model of capitalism, that could gather sufficient social and political support. This book analyses the various attempts at reforming the French model since the 1980s, when the left tried briefly to orient the (...) French political economy in a social-democratic/socialist direction before changing course and opting for a more orthodox macroeconomic and structural policy direction. The attempts of governments of the right to implement a radically neo-liberal structural policy also failed in the face of a significant social opposition. The enduring French systemic crisis is the expression of contradictions between the economic policies implemented by the successive left and right governments, and the existence of a dominant, social bloc, that is, a coalition of social groups that would politically support the dominant political strategy. Since 1978, both the right and the left have failed to find a solution to the contradictions between the policies they implemented and the expectations of their respective social bases, which are themselves inhabited by tensions and contradictions that evolve with the structural reforms that gradually transformed French capitalism. (shrink)

During a period in which institutions have been refashioned to meet the demands of a complex social and political economy, the No Child Left Behind Act (NCLB) has helped to alter the public educational system. As scholars and researchers examine the material effects of NCLB, efforts to improve the educational system and its effects must also explore the relationship between policy and racial ideologies including discursive fantasies. This article examines the relationship between NCLB and racial fantasies of Black youth as (...) problematic others in order to help education reform scholarship and advocacy examine the violence of NCLB. (shrink)

Over the past few years, a significant global debate has developed over the classification of workers in the sharing economy either as independent contractors or as employees. While Uber and Lyft have dominated the spotlight lately, the worker classification debates extend beyond ridesharing companies and affect workers across a variety of sectors. Classification of a worker as an employee, rather than an independent contractor, can carry a range of implications for worker treatment and protections under labor law, anti-discrimination law, (...) tort law, and tax law, depending on the legal jurisdiction. The debates, at least in the United States, have been incomplete due to the failure of policy makers and advocates to consider the scope and interconnectedness of the worker classification issues across the full sweep of legal arenas. There is time, however, to remedy the incompleteness of these policy conversations before worker classification decisions ossify and path dependence takes hold. Two interacting forces create the most serious risk for inadequate policy formulation: (1) silos among legal experts, and (2) first-mover effects. Both of these factors, silo and first mover, emerge in sharing economy debates in the United States. Tax experts and other legal specialists operate in distinct silos leading to a misunderstanding by non-tax analysts of the tax ramifications of worker classification, and to an under appreciation on the part of tax experts of the potential influence of “modest” tax rule changes on worker classification generally. The risks of such misunderstandings can be amplified by first-mover efforts, such as: (1) platforms’ contractual designation of workers as independent contractors to bolster a claim of nonemployer/nonemployee status; (2) platforms’ support for proposed tax legislation that would “clarify” the status of sharing workers as independent contractors for tax purposes if they satisfy a multiple-prong (relatively easy) safe harbor test; and (3) sharing economy worker litigation to secure employee status. This Article identifies the incompleteness in the worker classification debates and argues for the active formulation of policy through a process that looks beyond individual fields. A more complete conversation requires analytical engagement across multiple fields and recognition of the de facto power of reform in one arena to influence others. Moreover, it is by no means clear that just because tax might arrive at the legislative drawing table first (due to first mover effects), that it should drive or shape the broader worker classification debate. (shrink)

In examining how reform-leading supranational institutions respond to public criticism, this article advances current theory on their institutional accountability mechanisms and extends research on this topic by focusing on their responses to public criticism of alleged reform failures. We consider the case of the International Monetary Fund’s (IMF’s) involvement in the Greek economic crisis, as the structural adjustment reforms it imposed to stabilize the economy. We show how these controversial and, by many accounts, failed policies have profoundly impacted the (...) well-being of the recipient country by reducing social cohesion and impoverishing the most vulnerable groups. In explaining the IMF’s institutional response mechanism for fending off such criticism, we offer moral regulatory appropriation (MRA) as a processual framework and present the IMF’s organizing logic of institutional legitimation processes in four domains of action: agentic mission, reform policies, institutional policy negotiations, and moral appropriation. We argue that this enables institutions to maintain moral legitimacy despite evidence of their reforms’ policy failure and various negative consequences for their populations. The proposed framework has theoretical implications for conceptualizing the rhetorical deployment of moral legitimation to secure and defend institutional accountability. We also highlight the limitations and boundaries of such an approach by the IMF and similar reform-leading institutions. (shrink)

Corporate concentration is currently being discussed as a core reason for the crisis of democratic capitalism. It is seen as a prime mover for wage stagnation and alienation, economic inequalities and discontent with democracy. A tacit coalition of progressive anti-monopoly critiques and small business promoters considers more deconcentrated corporate structures to be a panacea for the crisis of democratic capitalism, arguing that small firms in competition are better for employment, equality and democracy. This paper offers a brief (...) outline of ideas of the anti-monopoly and small business ideal and critically evaluates whether a more deconcentrated economy may live up to these promises. While we agree that the plea for strengthened antitrust enforcement contains relevant and promising prospects for reform, our analysis concludes on a decidedly critical note. In particular, we caution against romanticized notions of the small capitalist firm. (shrink)

This book examines the U.S economy from 1967 to 2011 and utilizes a new method to predict the future of the economy as far ahead as 2030. Projections using estimates from the U.S. Bureau of Census are used to further project personal income, personal income annual change, and disposable personal income to 2030.

Anti-discrimination laws have long been established in many legal systems, and the relevant body of rules has constantly grown. But findings from social psychology research suggest that these policies are based on unrealistic premises and are therefore bound to remain unsuccessful in many instances. While legal scholarship has begun to reflect upon these insights and to discuss a number of individual policy responses, this essay seeks to provide a more comprehensive framework within which the implications of implicit social cognition (...) for anti-discrimination policies can be understood, and to map out the range of reform options for anti-discrimination policy. (shrink)

Late 1980s economic theory failed to account for Japanese-style economies. Leading thinkers ignored the success and achievements of these systems by passing them off as exceptions due to “cultural uniqueness,” or by altering the facts to fit their theories. Chalmers Johnson argues that the success of the Japanese economy is neither random nor a function of culture but due to policy, particularly to Japanese industrial policy.

This present paper analyses the ethical implications of the upward growth of black market trading in Zimbabwe in the context of its political economy of crisis that was predominant from 2000 to 2008. It argues that the growth of black market trading during the stated period can be situated in the prevailing political economy of crisis and strained state-market relations. Poor policy decisions by government as well as the imposition of targeted sanctions on the country by the United (...) States of America (USA) and European Union (EU) contributed to this crisis. Grounded on the theoretical framework of political economy, such an analysis of the ethical implication of black market trading is necessary for students of business ethics not only because black market trading has had some significant implications on the economy of Zimbabwe, but also because it leads us to question the extent to which people take ethics to be of importance in business. (shrink)

This present paper analyses the ethical implications of the upward growth of black market trading in Zimbabwe in the context of its political economy of crisis that was predominant from 2000 to 2008. It argues that the growth of black market trading during the stated period can be situated in the prevailing political economy of crisis and strained state-market relations. Poor policy decisions by government as well as the imposition of targeted sanctions on the country by the United (...) States of America (USA) and European Union (EU) contributed to this crisis. Grounded on the theoretical framework of political economy, such an analysis of the ethical implication of black market trading is necessary for students of business ethics not only because black market trading has had some significant implications on the economy of Zimbabwe, but also because it leads us to question the extent to which people take ethics to be of importance in business. (shrink)

Science and technology policy is both faced by unprecedented challenges and itself undergoing seismic shifts. First, policy is increasingly demanding of science that it fixes a set of epochal and global crises. On the other hand, practices of scientific research are changing rapidly regarding geographical dispersion, the institutions and identities of those involved and its forms of knowledge production and circulation. Furthermore, these changes are accelerated by the current upheavals in public funding of research, higher education and technology development in (...) the wake of the economic crisis. The paper outlines an agenda for science & technology policy studies in terms of a research programme of a ‘cultural political economy of research and innovation’ (CPERI). First, the implications of the overlapping crises for science policy analysis are discussed. Secondly, three rough constellations of contemporary approaches to science policy are critically compared, namely: a techno-statist Keynesian governance; a neoliberal marketplace of ideas; and co-productionist enabling of democratic debate. CPERI is then introduced, showing how it builds on the strengths of co-production while also specifically targeting two major weaknesses that are of heightened importance in an age of multiple crises, namely neglect of political economy and the concept of power. (shrink)

The article expounds the ordo-liberal tradition that emerged as a distinct neo-liberal conceptualization of free economy as a political practice. According to this tradition there are things more important than GDP in as much as free economy depends on the formation of the moral and the social preconditions of market freedom. The social facilitation and moral embedding of free economy are fundamental to the ordo-liberal conception of a human economy, which entails a social policy of Vitalpolitik – a politics of (...) life. Particularly at a time of manifest economic crisis and austerity, the social and moral veracity of economic liberty depends thus on the exercise of strong state authority. (shrink)

The various institutional reforms which have led since the end of the 70s to the « privatisation of currency » have formed the main base on which the subsequent power of finance has been built, and, concurently, the dismantling of Welfare could take place. Core of this was the so-called autonomy of central banks, as their « umbilical cord » to national treasuries was severed. From then on, deficit financing and « keynesian » social expenditures became near-impossible. Emphasizing the autonomy (...) of central banks from politics was mostly an institutional mutation meant to free monetary policies from social pressure and make it totally subordinate to rent creation and financial accumulation. No wonder then that « securitisation » of the public debt closely followed on the prohibition to deficit financing social expenditures. And then the outcome was not a reduction, but an explosion of public debt! And as debt servicing becomes a principal item on the budget, the « excessive costs » of welfare provisions is blamed, and a further break-down of social services is called for. It is in the same vein that price inflation is controlled, but assets inflation and speculative bubbles dominate « developped » economies. Meanwhile, in order to compensate for increasing income inequalities and diminishing welfare benefits, an exacerbated form of « private households deficit spending »has come into its own, as witnessed by the subprime crisis and mounting credit card defaults. So we are moving from an entitlements-based provision of social goods to one based on the pure logic of capital and its cycles. The only way out lies in the resocialisation of currency, profound fiscal reforms, the demise of rent-seeking, and the institution of an universal « basic income ». (shrink)

Taking its point of departure in the connotations to war and violence inherent in what is here called the ‘language of crisis’, the purpose of this article is to explore what it might mean to reassess the language of educational change and policy reform in the imagery of natality and birth. If the task in a ‘crisis’ is to fi ght against the crisis, eff ectively and forcefully, the argument of the paper is that the root metaphors (...) of natality and birth puts into play an imagery that makes possible a relational language for educational change and reform. If the language we use has performative consequences, the question explored is what a ‘language of natality’ can make possible as a language of struggle for education. (shrink)

This article presents a broad analysis of the political economy and dynamics of social change during the first year of the Evo Morales government in Bolivia. It situates this analysis in the wider historical context of left-indigenous insurrection between 2000 and 2005, the changing character of contemporary capitalism imperialism, and the resurgence of anti-neoliberalism and anti-imperialism elsewhere in Latin America. It considers at a general level the overarching dilemmas of revolution and reform. Part III examines the complexities of (...) the politics of indigenous liberation and the political economy of the Movimiento al Socialismo government between January 2006 and January 2007. It pays special attention to the limits of reform in the hydrocarbons sector. Also explained in Part III is the formation of an autonomist right-wing movement in the eastern lowlands, and how the new Right has intervened in the process of the Constituent Assembly. The article shows how the actual Constituent Assembly set into motion by the Morales administration in 2006 differs in fundamental terms from the revolutionary assembly envisioned by leading left-indigenous forces during the cycle of revolt in the first five years of this century. (shrink)

Since the financial crisis first erupted in the summer of 2007, the US Federal Reserve has sought to contain negative spillovers into the real economy by dramatically loosening monetary policy. Initially, this was done by lowering its key lending rates, but as the crisis has worsened, and rates have approached closer to zero, it has resorted to expanding its balance sheet in a historically unprecedented fashion. The Fed’s total assets have more than doubled to nearly $2 trillion since (...) the summer of 2007.Much of the debate surrounding the wisdom of this extraordinary increase in the production of money has revolved around its expediency–in other words, will it actually work to rescue the economy? Very little has been said, at least explicitly, about whether it is the morally right thing to do.This paper seeks to fill this gap by providing a moral analysis of the Fed’s response to the financial crisis. For this purpose, we apply Aristotelian virtue theory, Lockean natural rights philosophy, Kantian deontology, and Benthamite utilitarianism. The idea is that if a consensus, or a strong majority, can be reached from differing philosophic assumptions and starting points, then the resulting judgment ought to be compelling for all neutral observers. On the basis that the Fed’s efforts are likely to result in a marked rise in inflation, we argue that every one of these four moral theories ultimately renders a negative judgment. As such, we conclude that the Fed is pursuing an immoral course. (shrink)

Since the financial crisis first erupted in the summer of 2007, the US Federal Reserve has sought to contain negative spillovers into the real economy by dramatically loosening monetary policy. Initially, this was done by lowering its key lending rates, but as the crisis has worsened, and rates have approached closer to zero, it has resorted to expanding its balance sheet in a historically unprecedented fashion. Much of the debate surrounding the wisdom of this extraordinary increase in the (...) production of money has revolved around its expediency -- in other words, will it actually work to rescue the economy? Very little has been said, at least explicitly, about whether it is the morally right thing to do. This paper seeks to fill this gap by providing a moral analysis of the Fed's response to the financial crisis. For this purpose, we apply Aristotelian virtue theory, Lockean natural rights philosophy, Kantian deontology, and Benthamite utilitarianism. The idea is that if a consensus, or a strong majority, can be reached from differing philosophic assumptions and starting points, then the resulting judgment ought to be compelling for all neutral observers. On the basis that the Fed's efforts are likely to culminate in a marked rise in inflation, we argue that every one of these four moral theories ultimately renders a negative judgment. As such, we conclude that the Fed is pursuing an immoral course. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Economy, Society, Tragedy: Moral Reflections in an Age of Crisis and Austerity LOUIS A. RUPRECHT JR. Precisely their tragedies prove that the Greeks were not pessimists... In this sense, I have the right to understand myself as the first tragic philosopher—that is to say, the most extreme antithesis and antipode of a pessimistic philosopher. —Nietzsche, Ecce Homo, “The Birth of Tragedy” Orgiastic religion leads most readily to song (...) and music; ritualistic religion inclines toward the pictorial arts; religions enjoining love favor the development of poetry and music. In all of this, the one important fact for us is the significance of the marked rejection of all distinctively aesthetic devices by those religions which are rational, in our special sense. —Max Weber, The Sociology of Religion tragedy and society The title of this review essay is taken from Max Weber’s posthumous magnum opus, Economy and Society,1 an ambitious and wide-ranging comparative sociological analysis of economic orders, social orders and the normative structures that both emerge from and lend meaning to the intersecting economic, political and religious spheres in which complex human arion 28.2 fall 2020 Kathryn A. Kozaitis, Indebted: An Ethnography of Despair and Resilience in Greece’s Second City (New York, NY: Oxford University Press, 2021), 248 pages. This book is the fifteenth in Oxford’s important series, “Issues of Globalization: Case Studies in Contemporary Anthropology,” edited by Carla Freeman and Li Zhang. 138 economy, society, tragedy societies take shape. To Weber’s grand and capacious sociological categories, economy and society, I have added a third literary and philosophical term: tragedy. Now, to be sure, Weber thought a great deal about tragedy,2 and was drawn to tragic themes in many of his most salient and influential sociological studies. One need think only of his account of the bureaucratic “routinization” of prophetic charisma in The Sociology of Religion,3 or his depiction of modern humanity’s self-imposed “iron cage” in the rousing final pages of The Protestant Ethic and the Spirit of Capitalism,4 a text to which I will return at the end of this essay.5 But tragedy entails far more than systemic collapse or self-inflicted disaster. In this essay, I want to explore some of the implications of combining close attention to the lived experience of concrete individuals to the highly theoretical, systems-level analysis inspired by such Weberian categories. Put another way, how may Cultural Anthropology, and more specifically Ethnography, deepen such a globally-oriented Sociology? Here, I intend to supplement Weber’s sociological dyad, economy and society, with a conception of tragedy drawn from the cognate social sciences of Comparative Religion and Cultural Anthropology; I will be using Attic Greek tragedy as a benchmark. More specifically, I wish to highlight some of the ways in which the first book-length ethnographic study of the Greek economic crisis may add vital nuance to Weber’s more theoretical, world-systems approach. That book is Kathryn Kozaitis’s Indebted: An Ethnography of Despair and Resilience in Greece’s Second City, an ethnographic study of the lived reality of Greeks experiencing the double -whammy of a sovereign debt crisis and externally imposed austerity regimes in the Greek city of Thessaloniki; the book is the fifteenth to appear inOxford’s “Issues of Globalization: Case Studies in Contemporary Anthropology” series, edited by Carla Freeman and Li Zhang. As Kozaitis demonstrates with sensitivity and eloquence, by zeroing in on the people, rather than the economic policies or the social and administrative structures, Louis A. Ruprecht Jr. 139 certain normative categories and ethical stances become more relevant, many of them implicated in ancient Greek tragedy, and drama more broadly. tragic crises appropriately to a work of cultural ethnography, Kozaitis links the personal to her profession; further still, she weaves her own personal story into the story of the people to whom she is attempting to give voice. This, she notes, constitutes “the auto-ethnography in this ethnography” (4–6). How, then, did this professor of Cultural Anthropology, based in the United States, find her way to Greece’s “second city”? The path was circuitous, and its destination unclear for quite some time. That Kozaitis’s personal... (shrink)

continent. 1.1 (2011): 22-25. The Author gratefully acknowledges the financial support of CAPES (Coordenação de Aperfeiçoamento do Ensino Superior), Brazil. From the multifarious subdivisions of semiotics, be they naturalistic or culturalistic, the realm of semiotics of value is a ?eld that is getting more and more attention these days. Our entire political and economic systems are based upon structures of symbolic representation that many times seem not only to embody monetary value but also to determine it. The connection between monetary (...) and linguistic exchanges is self-evident: the former requires the latter and develops in direct relation to it. Creative experimentation and design of digital systems of value exchange are blossoming on the web. Dr. Gilson Schwartz, an economist turned media theorist and professor at the University of São Paulo, adopted the concept of Iconomics, originally created by Michael Kaplan, an author concerned with the linguistics of economic value. Empowering local communities and unlocking new levels of value creation and representation via digital technologies are the main goals of Dr. Schwartz’s projects, aiming at the re-designing of our relationship to the economic value of imagination and the social control of property. Schwartz is Assistant Professor at the School of Communication and Arts of the University of São Paulo, a former Chief Economist at BankBoston, Brazil and Advisor to the President of the National Social and Economic Development Bank (BNDES). FURTHER READING: Kaplan, Michael. “Iconomics: The Rhetoric of Speculation.” Public Culture . 15.3 (2003): 477-493. Renata Lemos-Morais: You have recently produced and directed a short documentary about Creative Currencies in Latin America. Could you tell us a bit about its process and its findings? Gilson Schwartz: The “Creative Currencies” project is a work-in-progress platform which unfolds as an action research agenda connected both to the production of audiovisual content and the development of social currency software. The initiative dates back to 2003 when I led an experimental project supported by the Presidency of Brazil. At that time, we issued paper currency in a small, touristic village in the Northeast Region which stimulated local cultural projects. But it was only in 2009 that the Central Bank of Brazil acknowledged “social currencies” as a legitimate economic agenda, calling for more debate at the I Financial Inclusion Forum. This year, the monetary authorities organized a second forum that also opened the room to discussions on mobile payment systems and new perspectives on poverty alleviation via State subsidies. The Ministry of Culture funded the “Creative Currencies” project in 2009-2010 and our next stage in this discovery process is to be supported by the National Social and Economic Development Bank (BNDES). In short, there is genuine interest among public officials in different areas and public funding for social currencies is on the rise in Brazil. However, after all these years we are still at a very early stage of research and practice. Some of the most successful initiatives (such as Banco Palmas) actually evolved out of local monetary creation to become correspondent banking operations for commercial banks and other financial groups. After eight years of price stability and social inclusion, Brazil stands out as a major opportunity for social experimentation, even the Grameen Bank is now entering the Brazilian market and many NGOs are geared towards different forms of entrepreneurialism in the base of the pyramid, riding solidarity economic models, microfinance and microcredit for local development. It is yet to be seen, however, whether these developments are just one more stage of “bankarization”, that is to say, an extension of regular banking services or actually a new form of social and symbolic self-determination at the local level. So far, the Central Bank of Brazil is open to new forms of credit and local finance as long as they are strictly territorial and very close to barter among the poor. In other words, whether the process of monetary creation could be made to fit an open source paradigm is yet to be seen. Community banking and social currencies might as well end up as just another channel for access to and use of banking services. The “Creative Currencies” project aims at promoting the discussion of more fundamental issues, such as the limits of central banking, the prospects for local financial development and the possibility of creating and managing financial icons as cultural assets. The purpose of this project is to produce short documentaries that will bear testimony to this evolving regulatory framework while inducing more discussion about the fundamental iconomic issues concealed in the process of money and wealth creation. RLM: What new potential is there in applying digital technologies to currency creation? GS: Globalization is a result of the virtualization of money, that is, the overcoming of illusions such as the “gold standard”. Money is an icon created by institutions, not on supposedly natural or material foundations but out of political and financial interests. The “dollar standard” is an outstanding evidence of this phenomenon and Kaplan´s paper, the first to use the expression “iconomics”, insists on the rhetoric and semiotic effects associated to a supposedly scientific model of money creation and management. This is a fundamental change that was perceived and discussed much before the digitalization of the world by unorthodox economists such as John Maynard Keynes since the early 20th century. The digitalization of global financial flows accelerated this immateriality and the creation of the Euro was yet another evidence of the political foundations of currencies. The banking establishment, however, is keen on the idea that scientific formulae hold the key to sound money creation. Keynesianism has been repeatedly associated to “inflationism” while the supposedly sound monetary policies of the Orthodoxy serve well the political and financial interests of a technocratic elite. Corporate media also serve this fictitious depiction of the monetary process despite the cyclical bust of monetary rules and financial regulations. The internet, however, has created numerous opportunities for the disintermediation in industries such as film, music and commodities. There is no reason to doubt that the financial industry can also be transformed by Peer-to-Peer (P2P) infrastructures. Money is media as well. Credit is but confidence. Once people realize that the distributed computing power of networks can also be the platform to weave new monetary and credit operations, there is room for grassroots emancipation out of the established owners of monetary institutions. So far, however, there has been a privatization of monetary management and there is not a clear path or model for the emergent (P2P) property democratization that is inherent to the internet. Digital assets, however, clearly have an inherent potential to escape central control and proprietary regulatory frameworks. RLM: How are social networks transforming the ways in which we exchange value? Do you believe that online influence and reputation might be translated into a new kind of currency? GS: The foundation for social currencies as envisaged by solidarity economics is the territory. Authorities are willing to concede local monetary creation as long as it is restricted to poor neighborhoods, as a proxy to barter. In this relevant but limited context, reputation, personal knowledge and informal ties form the matrix of local or “proximity” finance which are expected to keep credit and leverage to a sustainable level. Anything beyond that should and would lead to an integration of local finance into the established banking system. However, inasmuch as the internet promotes virtual territories and reputation is now subject to all sorts of digital manipulation and stardom becomes an everyday cultural process among teenagers and elders alike, the territorial “foundation” is substituted for more complex patterns of solidarity, cooperation and exchange that reach beyond the physical territory and even the “human.” Digital assets embody knowledge, technology, cultural and educational values that are exchanged at a global scale beyond the control of democratic States (Chinese-like intervention is the exception, not the rule). Hacktivism is unstoppable and so is monetary hacktivism. Especially in the Third World, mobile communications fast became conveyors of money transfers and other appropriation strategies. Banking and telecom sectors already battle for the control of these emerging markets and, as a matter of fact, have so far contributed to the containment of these processes. Governments serve these moguls and have usually adopted a wait-and-see attitude. If open source hardware and grassroots social movements combine to challenge these proprietary battles, then social networks may evolve into new forms of social capital and thus form the ground on which to design and implement social currencies. The global financial crisis, as well as the dollar demise, are an event of such a proportion that social networks may open the path for emancipator subjects to seize the opportunity. RLM: What are some of the social experiments that you think are revolutionizing the way in which value is exchanged? GS: There is a broad evolution of economic systems towards the valuation of intangible assets such as knowledge, reputation and sustainability. There are many examples of local as well as global events that call the traditional systems of exchange into question, from carbon credits to educational bonuses, digital barter frameworks and locally based solidarity and fair trade networks. These emerging examples, no matter how different in nature or scale, represent a challenge to the traditional value creation schemes and theories which are based on use and exchange value, supply and demand. This is not to say that utility and labour or scarcity are to be totally dismissed, but there is now an emerging perception that value is also a function of behavioral codes, symbolic patterns and the energy of institutional frameworks. The plasticity of digital platforms is relevant insofar as intellectual property becomes the central source of value creation. But when you discuss the property rights of public goods such as the environment or basic social rights (of minorities or localities), then a new paradigm seems to emerge. RLM: Are gaming and online storytelling digital practices that might have an impact on the way new currencies are created and developed? GS: “Play money” has been one of the early and most intriguing phenomena associated to the diffusion of virtual worlds. These virtual currencies have also been prone to “boom and bust” dynamics, speculation and pure theft (Second Life scams were common and led to “intervention” by the owners of the game). Storytelling is a major source of value, that is, the value of attention and the markets for audience. There are plenty of private monies created and managed by corporate entertainment groups, telecom operators (via mobile virtual network operators) and marketing frameworks. The casino economy, as already depicted by Keynes and other unorthodox economists, is always storytelling about future states of the world, confidence building and leverage of animal spirits. The novelty of current events is not the fictitious nature of any form of capital, but the potential for digital democratization of controls over the imaginary nature of value creation. But this is just a potential, a possibility, a figment that more often than not is appropriated by centralized and opaque private powers. The game industry is a testbed for new connections between storytelling and money creation. RLM: Monetary value was originally connected to the scarcity of precious metals, such as gold. Our entire monetary system seems therefore to function according to a logic of scarcity. Do you believe it is possible to reverse this logic into a logic of abundance? GS: The gold standard was a fiction itself, the “scarcity” is always produced by institutions that regulate confidence and access to credit. The key issue is not to fabricate abundance, but to question the institutions which produce scarcity out of any standard, gold or whatever. Central banks are at the service of private banks in the creation and management of scarcity. RLM: The promise that nanotechnology holds for our future is one of radical abundance (or so say transhumanists). The possibility of creating any kind of material substance through nanoengineering seems each day more feasible. What would this possibility entail in terms of systems of value exchange? GS: Nanotechnology, environmental concerns and grassroots appropriation of distributed knowledge are the frontiers of a new horizon of energy creation and management. Social groups in charge of managing scarcity for the sake of wealth and power concentration must be held accountable for the destruction of our future. Once this key political conundrum is accounted for, new systems of value exchange and even a non-mercantile society will come into existence. Revolutionary theorists such as Marx envisaged transformation via the extreme clash of contradictions between capital and labour. This approach has never led to a change in the systemic logic of scarcity for the sake of social control. We are once again facing the threshold of large scale societal change, but the outcome of the current crisis should come from our imagination, not from yet another paradox of abundance and scarcity. As long as we remain attached to the materiality of value, the illusion of freedom will but reinforce the massive manipulation of necessity. RLM: What do you think is the role of crowdfunding in this context? GS: Crowdsourcing as well as crowdfunding are examples of the peer to peer opportunities that come along with distributed computer power. However, the power structure behind wealth and scarcity creation may or may not be changed by crowd management. But it should not be taken at face value, so to speak. The stock market of course is an early form of crowdfunding without calling into question the proprietary framework of the companies offering their investment projects to the market. Any market is a form of crowdsourcing, that is to say, of distributed forms of supply and demand matchmaking. The wealth of networks, however, depends on the contractual ecosystem, the institutional framework, the channeling of social imagination, not on the purely quantitative distribution of bids and offers. I see economics as supply, demand and code. Once you have access to the code, once openness becomes part of the game, then there is a chance of crowd behavior becoming collective intelligence and sustainable imagination. RLM: Is the development of digital currencies headed towards a pluralistic ecology in which many micro currency systems co-exist, or is it penetrating the mainstream monetary system? If it is affecting the mainstream financial system, what would be its effect in the long-term? GS: The same issue is at stake both at local and global levels. The global system is, as a matter of fact, an unstable ecosystem of “micro currencies” whereas the dollar has so far exerted an overwhelming influence. Local currencies and private monies coexist with national currencies only to the extent that the Central Bank admits, for instance, that grassroots monetary emissions remain territorial and strictly connected to poverty. However, the question of how new developments in digital technologies and nanotechnologies might alter not only our current monetary systems but also our understanding of value in itself, is still an open question. (shrink)

This paper deals with Keynes’s distinction between entrepreneurship and speculation, regarding business people in general and especially investors’ behaviour. Based on Keynes’s thoughts about financial markets, it analyses how different motivations influence the decision-making process of investors and its consequences for stock markets and the real economy and clarifies that Keynes’s considerations are still useful for understanding contemporary developments and risks in the financial system. Furthermore, it points out that Keynes’s theories and policy recommendations should be understood in the context (...) of his moral considerations, especially relating to individual responsibility of investors. Finally, Keynes’s moral thoughts can be taken as a foundation for a contemporary approach to investors’ responsibility. (shrink)

In Purchase, Power, and Persuasion: Essays on Political Philosophy, Gary Jason brings together his articles on political and economic philosophy between 2004 and 2018. These articles touch on issues surrounding two contrasting political systems: a completely totalitarian system—the paradigm case of which was Nazi Germany—versus a classically liberal system. In Part One of the anthology, the essay topics include the breadth of the Nazi Regime’s propaganda machine, as well as the nature and ethics of propaganda. In Part Two, the essay (...) topics include the nature and variety of genocides, as well as how the Nazi Regime bought the support of the German citizens, and whether National Socialism was indeed a form of socialism. In Part Three, the essay topics include: what ‘classical liberalism’ means; common myths about the nature of capitalism; the nature of ‘happiness economics’; the basic ideas of Public Choice economics; Adam Smith’s life and work; the legitimacy of secession in America today; and how the American economy compares to European ones. In Part Four, the topics include the ethics of a nation restricting the emigration of trained professionals, Gary Becker’s proposals for immigration reform, and my own proposals for immigration reform. Finally, in Part Five, the topics include business ethics; the nature of American charity today; the economic contributions of Smith, Marx, and Keynes; the spread and value of liberal think-tanks; and the anti-Malthusian economics of Julian Simon. (shrink)

During the 1970s, monetarism and the new classical macroeconomics ushered in an era of neoliberal economic policymaking. Keynesian economics was pushed aside. It was almost forgotten that when Keynesian thinking had dominated economic policymaking in the middle decades of the twentieth century, it had coincided with postwar economic reconstruction in both Europe and Japan, and the unprecedented prosperity and stable growth of the 1950s and 1960s. The global financial crisis of 2007-2009 and the recession that followed changed all that. (...) Influential voices in both academic economics and amongst policy-makers and commentators began to remind us how useful Keynesian ways of thinking could be, especially in coming to terms with our current economic predicaments. When politicians across the globe were confronted with economic crisis, they introduced pragmatic and workable measures that bore all the hallmarks of Keynesianism. This book is about the fall and rise of Keynesian economics.Eatwell and Milgate range widely across the landscape that defines their subject matter. They consider how powerful Keynesian ideas can be when applied to past and present economic problems. They show how helpful these ideas are in explaining why we came to find ourselves in the disorder we are in. They examine where and how the analytical and methodological foundations of conventional macroeconomic wisdom went wrong. They set out a blueprint for an alternative that provides a clearer, more consistent, and more applicable approach to understanding how markets work. They also highlight the interpretive shortcomings that have come to characterize Keynes scholarship itself. They do all of this within the context of a provocative reconsideration of some of the most pressing economic problems that confront financial markets and the global economy today. They conclude that Keynesian ideas are not just for crises, but for constructive economic policy making at all times. (shrink)

This book provides a detailed theoretical overview and analytical understanding of informal labour markets in the context of economic reforms. Grounded in the neo-classical general equilibrium framework, it analyses the impact of deregulatory policies on the welfare of informal workers in a segmented labour market.

This research, aims to develop a conceptual framework to assess the entrepreneurial properties of the Vietnamese reform, known as Doi Moi, even before the kickoff of Doi Moi policy itself. The authors argue that unlike many other scholars’ assertion, economic crisis and harsh realities were neither necessary nor sufficient conditions for the reform to take place, but the entrepreneurial elements and undertaking were, at least for the case of Vietnam’s reform. Entrepreneurial process, on the one hand, sought structural changes (...) and kicked off innovation, and on the other hand, its induced outcome further invited changes and associated opportunities. The paper also concludes that an assessment of possibility for the next stage of Doi Moi should take into account the entrepreneurial factors of the economy and predict the emergence of new entrepreneurial facets in the next phase of economic development. (shrink)

ABSTRACT The austerity measures adopted after the financial crisis of 2008–2009 accelerated the critical scholarship on neoliberalism and the media. This article uses discourse theory to analyse how The Economist newspaper constructed a ‘euphemised’ neoliberal discourse amid the European austerity drive in the years 2010–2012. The article argues for distinguishing between different types of neoliberalism and defines euphemised neoliberalism as a discourse that is characterised by a post-political style, a posture typical of The Economist’s elite journalistic identity. The article (...) discusses the type of discourse being articulated via The Economist’s rhetorical strategies of moral and rational austerity, anti-politics and austerity as modernisation. These strategies allowed for a nuanced and even a critical debate on European austerity policies, but ultimately The Economist produced a depoliticised understanding of economic policy-making, as the need for austerity and reforms could not be questioned. Finally, the article discusses how the austerity measures adopted in 2010 led to a crisis in the previously constituted euphemised neoliberal discourse and accelerated counter-hegemonic discourses, such as authoritarian forms of neoliberalism. (shrink)

In both the literal and metaphorical senses, it seemed as if 1970s America was running out of gas. The decade not only witnessed long lines at gas stations but a citizenry that had grown weary and disillusioned. High unemployment, runaway inflation, and the energy crisis, caused in part by U.S. dependence on Arab oil, characterized an increasingly bleak economic situation. As Edward D. Berkowitz demonstrates, the end of the postwar economic boom, Watergate, and defeat in Vietnam led to an (...) unraveling of the national consensus. During the decade, ideas about the United States, how it should be governed, and how its economy should be managed changed dramatically. Berkowitz argues that the postwar faith in sweeping social programs and a global U.S. mission was replaced by a more skeptical attitude about government's ability to positively affect society. From Woody Allen to Watergate, from the decline of the steel industry to the rise of Bill Gates, and from Saturday Night Fever to the Sunday morning fervor of evangelical preachers, Berkowitz captures the history, tone, and spirit of the seventies. He explores the decade's major political events and movements, including the rise and fall of détente, congressional reform, changes in healthcare policies, and the hostage crisis in Iran. The seventies also gave birth to several social movements and the "rights revolution," in which women, gays and lesbians, and people with disabilities all successfully fought for greater legal and social recognition. At the same time, reaction to these social movements as well as the issue of abortion introduced a new facet into American political life-the rise of powerful, politically conservative religious organizations and activists. Berkowitz also considers important shifts in American popular culture, recounting the creative renaissance in American film as well as the birth of the Hollywood blockbuster. He discusses how television programs such as All in the Family and Charlie's Angels offered Americans both a reflection of and an escape from the problems gripping the country. (shrink)

National scientists have elaborated the reform's gist, approaches, stages and consequences in the Ukrainian agricultural sector during the XX - XXI centuries. These studies have been conducted by N. Zhulkanych, S. Zhyvora, M. Zyza, M. Lendiel, E. Mazur, O. Malyarchuk, V. Nechytailo and many others. The paper aims to perform the comprehensive study of general trends and peculiar features of the agricultural development of the Ukrainian SSR in 1963-1990 and to define actual advances and drawbacks on the basis of analysis (...) of historical records and scientific literature. The object of research is agriculture as part of socialist economy in the USSR. The subject of research is the implementation features of agricultural policy of the Soviet power in the Ukrainian SSR, using the Western region of the Republic as an example. The economic strategy of the Soviet power involved a long-term industrialization of the agricultural sector. A distinguishing feature of the industrialization process was the use of systems of machinery in all branches of agriculture. The technological chain had to embrace the process from the sporadic application of machinery to the overall mechanization and automation of crop and livestock farming. The industrial background of production predetermined the implementation of the system of machinery with extensive power consumption, i.e. with the new technical bases. The resolutions of the March Plenum of the CPSU Central Committee defined the economic priorities and capacity development of the Republic. Capital investments were the economic basis for the increase of production potential of collective and state farms, solution of social problems in rural regions. The land productivity was increased mainly by means of land reclamation and production chemization, use of organic and mineral fertilizers, pesticides, fungicides, etc. The supply of mineral fertilizers increased, but most of them were of low quality, non-concentrated and unbalanced in nutritional ingredients. In its turn it caused irreparable damage to the environment and polluted agricultural products with chemicals. The chemization undermined the population health and disrupted the ecological balance. Despite ultimate achievements in the rise of the industrial level of agriculture of the Ukrainian SSR, it didn't meet the needs of collective and state farms. A great number of labour-intensive processes in animal and crop farming were performed manually. In state farms, contrary to collective farms, the stock of tractors was newer, but much smaller. For many years the USSR was in the top ten countries of the world in terms of consumption of energy and proteins, contained in food products per capita. However, the food patterns were inconsistent with the scientifically grounded norm. Structural imbalance of the food ration was the manifestation of the food crisis in the USSR. To meet primary needs of Soviet citizens in food products the May Plenum of the CPSU Central Committee adopted the "Food Program of the USSR for the Period until 1990 and Measures of Its Implementation". The main issue of the Food program was to increase grain harvest. Grain production was the basis for food and fodder supply of the country. Alongside with a substantial increase in food products output in public economy the attention was given to the development of subsidiary individual holdings and fruit-and-vegetable cooperatives. The cooperatives and subsidiary holdings produced a great number of dairy and meat products, vegetables and fruits both for their own needs and for sale in collective farm markets. The state food program predetermined the solution of agricultural problems by means of formerly used methods. The major problem of agriculture had to be solved by means of increase in the gross grain harvest. Thus, the implementation of agricultural policy of Soviet power in the Ukrainian SSR lead to great changes in agricultural production. At that time there appeared such new branches of economy specialized in services to agricultural production as waterworks and land reclamation, feed mill industry, farm building, machine engineering for animal farming and fodder production, procurement of agricultural products and agricultural processing. The study of this policy implementation proves that the average annual rates of agricultural production increased but they were inconsistent with high investments. On the one hand, the Food program testified the "food crisis in the USSR", demonstrating the lag of the world socialist community from capitalist states. On the other hand, it had to increase the level of food self-sufficiency, decrease the procurement of agricultural products from abroad and promote the solution of the world food problem in general. (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)

ABSTRACT The approaches currently dominating sustainable urban planning are based on a paradigm which assumes that economic growth can be decoupled from economic degradation through smarter technological solutions and institutional reform within existing social structures. However, decoupling can only be partial. Environmental sustainability, therefore, requires that, sooner or later, growth in consumption and production must cease. Policies for combining environmental and social sustainability would be sharply at odds with key mechanisms inherent in the capitalist economy. Urban sustainability thus requires profound (...) changes. On the ontological plane, planning theory must move away from anti-realist constructivism and hermeneuticism, towards realism. On the empirical plane, it is necessary to move away from disciplinary tunnel vision towards a critical realist version of interdisciplinarity, within key research fields such as housing research and transportation research. On the political plane, urban sustainability must move from growth to degrowth, from inequality to equality, and from capitalism to eco-socialism. (shrink)

In his new book Keynes wishes to prove that since Ricardo's times liberalistic economics have proceeded from unreal premises of such nature that their theses are inapplicable to economic reality. This should explain the failure of economic theoreticians in all decisive problems of political economy. K.'s newly presented „General Theory“ is analyzed in the above article. Insofar as this theory contains true statements, it offers, in Baumann's opinion, only fresh formulations of long since known facts, and whatever new it offers, (...) particularly the introduction of psychological factors as determinants of the economic process, turns out to be untenable. The significance of the „General Theory“ lies in the attempt at giving a theoretical justification to the neomercantilistic economic policy.Dans son nouveau livre, Keynes veut démontrer que, depuis Ricardo, l'économie libérale part d'hypothèses si irréelles, que ses propositions ne sont pas applicables à la réalité. Ainsi s'explique l'échec des théoriciens économiques dans toutes les questions décisives de la politique économique. La nouvelle théorie générale de K. est analysée dans l'article ci-dessus. Dans la mesure où elle est exacte, elle apporte seulement, d'après Baumann, une expression nouvelle de faits connus depuis longtemps. En revanche, ce qu'elle apporte de nouveau, avant tout l'introduction de facteurs psychologiques comme facteurs déterminants du processus économique, ne résiste pas à la critique. La „théorie générale“ représente une tentative pour justifier par la théorie le néo-mercantilisme ; c'est là sa véritable signification. (shrink)

The peper rethinks the demands in various economic branches: market, macro control, institution, innovation, investment, monetary, anti corruption, demand inward and outward, etc., just for return to the Truetone that meets all the economic demands. What is the Truetone? says: “God is Spirit.” The spirit of Hebraic is ruagh that means the Truetone in Tao, so God is the Truetone in Chinese Taoists. All complex economies can be simplified as the two: one is thesustainable economy in the Truetone, another (...) is the unsustainable bubble in the conceittone. The Truetone, Truespring, and Trueword, is the Triplehelix impossible to be isolated, so the Truetone is the Triplehelix. The belief in the Truetone clears out the conceittone that blocks the free transactions and causes corruption in economy. Any economy has its own advantage with its Truetone. The paper trys to allow all economies to return to their own genuine believes toreceive full graces in the Truetone, and also Chinese government to get genuine economic policies to avoid the big crisis with the conceittone ahead. (shrink)

Due to the global environmental crisis and problems of climate change, but also the economic problems of neoliberalism and inequality, it is important to rethink our ideas about society, business, and economic organization in the context of a transition to a more sustainable society. Important themes of a political economy of sustainability are Sustainable Development Goals (SDGs) and the philosophical underpinnings of governance and sustainability management. Reforming global economic and political institutions means finding new, creative, and imaginative solutions for (...) managers, administrators, and members of government critically to evaluate our political economy and management concepts and values. It is important to rethink policies and strategies in the light of challenges of the global society. We will do this in what follows by focusing on important topics such as 1) The origin of our contemporary crisis 2) The political economy of the crisis 3) The transformation of governance for lasting change. (shrink)