How Do We Compare Economies?
... ownership system’s relationship to allocative mechanisms. We often see economies that are largely capitalist, like the one in the United States, also being largely market-oriented. We have also seen the most prominent examples of socialism, notably the Soviet Union, also being command-oriented. This ...
... ownership system’s relationship to allocative mechanisms. We often see economies that are largely capitalist, like the one in the United States, also being largely market-oriented. We have also seen the most prominent examples of socialism, notably the Soviet Union, also being command-oriented. This ...
Capital and labour from centre to margins
... maximum hours and minimum wages, especially in ‘special branches of capitalist exploitation’ like ‘domestic industry’ (ibid: 796). Now this has a contemporary ring to it, as studies by Marty Chen and her WIEGO colleagues, and others, show. In fact, I suggest that there are few social forms and pract ...
... maximum hours and minimum wages, especially in ‘special branches of capitalist exploitation’ like ‘domestic industry’ (ibid: 796). Now this has a contemporary ring to it, as studies by Marty Chen and her WIEGO colleagues, and others, show. In fact, I suggest that there are few social forms and pract ...
D. LEVY - CEPREMAP
... example, the control of inflation). Nonetheless, neoliberalism is unquestionably a liberalism in the sense of free-market economics. This first feature is, however, far from defining all the facets of neoliberalism. In each country, the new social order imposed a new discipline on workers, notably ...
... example, the control of inflation). Nonetheless, neoliberalism is unquestionably a liberalism in the sense of free-market economics. This first feature is, however, far from defining all the facets of neoliberalism. In each country, the new social order imposed a new discipline on workers, notably ...
The above postulate of all regimes of «actually existing socialism
... increasing productivity of labour constitutes a law of economic development in socialist society..." (USSR Academy of Sciences, 1954, pp. 561 and 728). The promise of economic development, as a ruling ideological form legitimising political power in Russia, remained intact even when former Soviet of ...
... increasing productivity of labour constitutes a law of economic development in socialist society..." (USSR Academy of Sciences, 1954, pp. 561 and 728). The promise of economic development, as a ruling ideological form legitimising political power in Russia, remained intact even when former Soviet of ...
Author`s personal copy
... billions around capitalism. This article provides the broad counters of an alternative economic system, built on the totality of human values, which achieves these two seemingly contradictory objectives. 2. Human Values and Sustainability: A Theoretical Framework The linkage between values and econo ...
... billions around capitalism. This article provides the broad counters of an alternative economic system, built on the totality of human values, which achieves these two seemingly contradictory objectives. 2. Human Values and Sustainability: A Theoretical Framework The linkage between values and econo ...
interventionism: an economic analysis of priceless resource allocation
... specific types of interventionism, but the framework can also be employed when analysing different economic systems. Broadly speaking, there are three categories in which various combinations of the two means of addressing scarcity can be groped in: laissez-faire capitalism, interventionism and soci ...
... specific types of interventionism, but the framework can also be employed when analysing different economic systems. Broadly speaking, there are three categories in which various combinations of the two means of addressing scarcity can be groped in: laissez-faire capitalism, interventionism and soci ...
Capitalism and Post-Keynesian Economics: Some Critical
... attempt to tell a story about the long-term behaviour of the system. The former tries to identify objective laws of motion, the latter some kind of immanent behaviour to be taken as a normative reference for a real system. They both fail encountering similar analytical problems. In particular the lo ...
... attempt to tell a story about the long-term behaviour of the system. The former tries to identify objective laws of motion, the latter some kind of immanent behaviour to be taken as a normative reference for a real system. They both fail encountering similar analytical problems. In particular the lo ...
"Reading Legitimation Crisis during the Meltdown." Keynote
... access to credit, since, typically, labor and raw materials must be purchased before the finished product is sold. Consumers, too, need access to credit, particularly for big-ticket items like homes and cars. If access to credit dries up, spending contracts, production contracts, workers are laid of ...
... access to credit, since, typically, labor and raw materials must be purchased before the finished product is sold. Consumers, too, need access to credit, particularly for big-ticket items like homes and cars. If access to credit dries up, spending contracts, production contracts, workers are laid of ...
Chapter 6 - The University of Utah
... On the other hand, the liberal intellectuals have lost most of their political influence that they had before 1989. Their exiling party abroad has bankrupted and they do not have any organized political force in China. Without any significant social base, the very existence (or extinguishment) of t ...
... On the other hand, the liberal intellectuals have lost most of their political influence that they had before 1989. Their exiling party abroad has bankrupted and they do not have any organized political force in China. Without any significant social base, the very existence (or extinguishment) of t ...
Toporowski THE CRISIS OF FINANCE King`s May 2015
... capitalist relations of production, those conditions being the accumulation of capital and its financing. The result, among most Marxists, has been a retrogression to a political economy of capitalism that would have been familiar to Ricardian socialists who reduced capitalism to a theory of capital ...
... capitalist relations of production, those conditions being the accumulation of capital and its financing. The result, among most Marxists, has been a retrogression to a political economy of capitalism that would have been familiar to Ricardian socialists who reduced capitalism to a theory of capital ...
1 THE ACCUMULATION PROCESS IN THE PERIOD OF GLOBALIZATION
... in the process of expanded reproduction of capital can be expressed somewhat differently. Any particular bloc of capital can grow, conceptually, in two ways. One is by reinvesting its surplus value and thereby growing bigger; the other is by annexing other blocs of capital, or by taking over common ...
... in the process of expanded reproduction of capital can be expressed somewhat differently. Any particular bloc of capital can grow, conceptually, in two ways. One is by reinvesting its surplus value and thereby growing bigger; the other is by annexing other blocs of capital, or by taking over common ...
Structural Crises in the Historical Dynamics of Social Change
... institutions, where the power of this class is concentrated, as “Finance”. The second hegemony, the leadership of the United States, is international, Wilsonian. The advance of the United States over other countries allows for this international pre-eminence independently of the constitution of a fo ...
... institutions, where the power of this class is concentrated, as “Finance”. The second hegemony, the leadership of the United States, is international, Wilsonian. The advance of the United States over other countries allows for this international pre-eminence independently of the constitution of a fo ...
Institutions and Economic Growth: What Model of Capitalism for
... objectives and policy instruments European states played a more proactive role in governing the economy than typically their Anglo-Saxon counterparts. 4 As depicted in table 2.1, the Continental capitalism is generally associated with a neocorporatist pattern of interest intermediation, featuring st ...
... objectives and policy instruments European states played a more proactive role in governing the economy than typically their Anglo-Saxon counterparts. 4 As depicted in table 2.1, the Continental capitalism is generally associated with a neocorporatist pattern of interest intermediation, featuring st ...
Uncertainty and the Institutional Structure of Capitalist Economies
... models, a partial convergence between the economics of Keynes and tbe new classical econotnics has occurred. The differences have nanowed so that a fruitful discotirse may now be possible. Money Manager Capitalism Capitalism is an evolving and dynamic system that has come in many fortns and even now ...
... models, a partial convergence between the economics of Keynes and tbe new classical econotnics has occurred. The differences have nanowed so that a fruitful discotirse may now be possible. Money Manager Capitalism Capitalism is an evolving and dynamic system that has come in many fortns and even now ...
Evaluation of the Chinese State Capitalist Model in Light of Financial
... Torestein Veblen, John Kenneth Galbraith and John R. Commons. In contrast to the classical economic doctrine, these scholars emphasized the market as just one of numerous institutions involved in shaping economic development.9 The state is given a central role in charge of mapping out the rules and ...
... Torestein Veblen, John Kenneth Galbraith and John R. Commons. In contrast to the classical economic doctrine, these scholars emphasized the market as just one of numerous institutions involved in shaping economic development.9 The state is given a central role in charge of mapping out the rules and ...
Chapter 3 - Higher Education | Kendall Hunt Publishing
... wage. The absence of government intervention would mean that the strong would have supremacy over the weak. Marx stressed the labor market theory of value—that labor is the source of all value. Under the labor market theory of value, profits belonged to the laborers who produced the value, not the o ...
... wage. The absence of government intervention would mean that the strong would have supremacy over the weak. Marx stressed the labor market theory of value—that labor is the source of all value. Under the labor market theory of value, profits belonged to the laborers who produced the value, not the o ...
08CIV Chapter 19
... own most, if not all, of the means of production and decide how to use them within legislated limits ...
... own most, if not all, of the means of production and decide how to use them within legislated limits ...
Uncertainty and the Institutional Structure of
... A. Evaluation of Financial Structure Capitalism is an evolving dynamic system that has come in many forms and even now different forms co-exist. For the United States the financial stages of American capitalism can be characterized as: Commercial capitalism Industrial capitalism and wild-cat financi ...
... A. Evaluation of Financial Structure Capitalism is an evolving dynamic system that has come in many forms and even now different forms co-exist. For the United States the financial stages of American capitalism can be characterized as: Commercial capitalism Industrial capitalism and wild-cat financi ...
Reading Legitimation Crisis During the Meltdown
... areas of life are highly resistant to administrative control. Habermas emphatically insists: "There is no administrative production of meaning (70)." What about capitalism? Is it secure? To understand contemporary "crisis tendencies," says Habermas, we must recognize that "advanced capitalism" is si ...
... areas of life are highly resistant to administrative control. Habermas emphatically insists: "There is no administrative production of meaning (70)." What about capitalism? Is it secure? To understand contemporary "crisis tendencies," says Habermas, we must recognize that "advanced capitalism" is si ...
Globalization and Neoliberalism
... impose neoliberal policies on them. In much of the Third World, and in the transition countries (except for China), the US has been successful in dictating neoliberal policies, acting partly through the IMF and World Bank and partly through direct pressure. Neoliberalism is an updated version of the ...
... impose neoliberal policies on them. In much of the Third World, and in the transition countries (except for China), the US has been successful in dictating neoliberal policies, acting partly through the IMF and World Bank and partly through direct pressure. Neoliberalism is an updated version of the ...
Keynesianism and the Crisis
... of the current crisis this arrangement may also be reaching its limits. Across the developed world state intervention is almost at breaking point, as public debt spirals and policy interventions become less and less effective. The logic of accumulation is pushing against the limits of the system and ...
... of the current crisis this arrangement may also be reaching its limits. Across the developed world state intervention is almost at breaking point, as public debt spirals and policy interventions become less and less effective. The logic of accumulation is pushing against the limits of the system and ...
Reading Legitimation Crisis During the Meltdown
... radically transformed, a "systems crisis" must become an "identity crisis," that is to say, an economic crisis must ultimately change the self-identity of enough people in such a way as to allow/compel them to become agents of change. Whether or not this happens depends on an array of psychological ...
... radically transformed, a "systems crisis" must become an "identity crisis," that is to say, an economic crisis must ultimately change the self-identity of enough people in such a way as to allow/compel them to become agents of change. Whether or not this happens depends on an array of psychological ...
File - Mr. Henderson Social Studies.
... 16. Mixed Economy Mixed economies exist somewhere between command and market economies. In a mixed economy the government tends to own major industries like utilities, health care and major manufacturing industries; however, individuals own most small businesses. Mixed economies tend to tax their c ...
... 16. Mixed Economy Mixed economies exist somewhere between command and market economies. In a mixed economy the government tends to own major industries like utilities, health care and major manufacturing industries; however, individuals own most small businesses. Mixed economies tend to tax their c ...
3.1. Changes in the Postwar Global Economy and the Roots of the
... state both grew larger relative to the economy and took on a more active, interventionist role. This assumed somewhat different forms in different countries, reflecting the particular history of each region and country. In Western Europe it took the form of social democracy, in Japan a corporatist f ...
... state both grew larger relative to the economy and took on a more active, interventionist role. This assumed somewhat different forms in different countries, reflecting the particular history of each region and country. In Western Europe it took the form of social democracy, in Japan a corporatist f ...
Understanding the Significance of the Great Depression
... productivity, in slow growth and rising unemployment and excess capacity (businesslike "sabotage"), leading eventually to a situation of more or less open class struggle. Veblen had naturally been much influenced by the long period of sluggish growth and increasing unemployment which characterized t ...
... productivity, in slow growth and rising unemployment and excess capacity (businesslike "sabotage"), leading eventually to a situation of more or less open class struggle. Veblen had naturally been much influenced by the long period of sluggish growth and increasing unemployment which characterized t ...
State capitalism
State capitalism is usually described as an economic system in which commercial (i.e. for-profit) economic activity is undertaken by the state, where the means of production are organized and managed as business enterprises, including the processes of capital accumulation, wage labor, and centralized management. This designation applies to economies regardless of the political aims of the state, even if the state is nominally socialist. State capitalism is characterized by the dominance of state-owned business enterprises, corporatized government agencies (agencies organized along business management practices), and states that own controlling shares of publicly listed corporations. The term is also often used to describe the economic systems of socialist states, and many socialists argue that the Soviet Union either did not transcend capitalism, or as a criticism of its political system, argue that it could not achieve socialism but rather established state capitalism.State capitalism has also come to refer to an economic system where the means of production are owned privately but the state has considerable control over the allocation of credit and investment, as in the case of France during the period of dirigisme. Alternatively, state capitalism may be used (sometimes interchangeably with state monopoly capitalism) to describe a system where the state intervenes in the economy to protect and advance the interests of large-scale businesses. This practice is often claimed to be in contrast with the ideals of both socialism and laissez-faire capitalism.There are various theories and critiques of state capitalism, some of which have existed before the 1917 October Revolution. The common themes among them are to identify that the workers do not meaningfully control the means of production and that commodity relations and production for profit still occur within state capitalism. Vladimir Lenin notably described the economy of Russia as state capitalism. Libertarian socialists, such as Noam Chomsky, use the term ""state capitalism"" to refer to economies that are nominally capitalist, such that the decisive research and development is performed by the public sector at public cost, but private owners reap the profits.Marxist literature typically defines state capitalism as a social system combining capitalism—the wage system of producing and appropriating surplus value—with ownership or control by a state. By that definition, a state capitalist country is one where the government controls the economy and essentially acts like a single huge corporation, extracting the surplus value from the workforce in order to invest it in further production. Friedrich Engels, in Socialism: Utopian and Scientific, argued that state ownership does not do away with capitalism by itself, but rather would be the final stage of capitalism, consisting of ownership and management of large-scale production and communication by the bourgeois state. He argued that the tools for ending capitalism are found in state capitalism.Some use the term to refer to capitalist economies where the state provides substantial public services and regulation of business activity. This could refer to several ideologies, ranging from social liberalism and social democracy to fascism. The term is also used by some in reference to a private capitalist economy controlled by a state, often meaning a privately owned economy that is subject to statist economic planning. In the 1930s, Italian Fascist leader Benito Mussolini said that were fascism to conform itself to modern capitalism, it would end up as being ""state socialism turned on its head"". This term was often used to describe the controlled economies of the Great Powers in the First World War.