Showing papers in "New Political Economy in 2019"
TL;DR: In this article, the authors argue that there is a need to move beyond simplistic conceptualisations of states as simple agents of regulation and criminal justice enforcement, and recognize the causal and multifaceted role that national states play in creating the conditions in which unfree labour can flourish.
Abstract: A growing body of academic and policy research seeks to understand and address the problem of contemporary unfree labour. In this article, we argue that this literature could be strengthened by a stronger conceptualization of, and more systematic attention towards, the role of national states. In particular, we argue that there is a need to move beyond simplistic conceptualisations of states as simple agents of regulation and criminal justice enforcement who respond to the problem of unfree labour, and to recognize the causal and multifaceted role that national states play in creating the conditions in which unfree labour can flourish. We propose a framework to understand and compare the ways in which national states shape the political economy of unfree labour. Focusing on the United States, we outline three arenas of governance in which national states have been particularly central to enabling the conditions for unfree labour: the regulation of labour mobility, labour market regulation, and business regulation. We conclude by reflecting on the comparative political economy research that will be required to understand the role of different states in shaping the conditions in which unfree labour thrives or is eliminated.
68 citations
TL;DR: In this paper, the authors argue for the need to analyse managerialism on its own terms and make the case for considering the rise of managerial science as a paradigmatic shift in governance.
Abstract: Managerialism is often depicted as a key practice of neoliberalism yet relatively little has been written by scholars of neoliberalism about the actual relationship between managerialism and neoliberalism. Usually subsumed under a functional reading of neoliberalism, managerialism has too often been understood simply as a means for neoliberal ends (i.e. to promote market rule or competition). This paper challenges this perspective on the grounds that it conflates practices that stem from two different historical lineages. As we show, managerial governance not only has a very different history than neoliberal theory, but it also rests on different principles. Its development can be traced back to the US defence sector in the 1950s and the pivotal role of the RAND corporation. On the basis of this historical perspective, we argue for the need to analyse managerialism on its own terms and make the case for considering the rise of managerial science as a paradigmatic shift in governance. In doing so, we show how managerial governance represented a radical rupture from previous management practices and show how it profoundly reshaped how we have come to understand governance.
44 citations
TL;DR: This article explored women's entrepreneurial activities in the Oman and Qatar in light of the state attention given to promoting entrepreneurship in the region over the past decade, and found that the same forces that are meant to empower women often reproduce or reinforce certain gender norms while introducing new forms of dependency.
Abstract: This paper explores women’s entrepreneurial activities in the Oman and Qatar in light of the state attention given to promoting entrepreneurship in the region over the past decade. In the Gulf Arab countries, like in many rapidly developing economies, neoliberal growth discourse abounds. Along with this, the promotion of entrepreneurship and embrace of individual enterprise is paramount. Despite the dominance of the state in political and economic spaces, Gulf governments have embraced the rhetoric of the market and entrepreneurship. Drawing from semi-structured interviews, focus groups, and participant observation conducted between 2011 and 2015, this paper examines this phenomenon. In a region stereotyped with weak gender development outcomes, female entrepreneurship is largely cast as a positive development aimed at liberating and empowering women through individual enterprise. In contrast, this paper finds that the same forces that are meant to empower women often reproduce or reinforce certain gender norms while introducing new forms of dependency. Gulf female entrepreneurs confront competing tensions within three intersecting political economy logics: the structural logic of the economy, the logic of development narratives, and the logic of socio-economic organisation.
43 citations
TL;DR: In 2015, Swiss voters had the opportunity to impose a tax on the super rich in a popular vote and thereby fund a redistributive policy, but a large majority voted against its seemingly obvious...
Abstract: In 2015, Swiss voters had the opportunity to impose a tax on the super rich in a popular vote and thereby fund a redistributive policy. However, a large majority voted against its seemingly obvious...
33 citations
TL;DR: In the midst of a wave of market expansion, carbon markets have been proposed as the best way to address global climate change as discussed by the authors, and some argue that carbon markets represent a modern example of a...
Abstract: In the midst of a wave of market expansion, carbon markets have been proposed as the best way to address global climate change. While some argue that carbon markets represent a modern example of a ...
32 citations
TL;DR: The economic impact of Brexit on the financial services sector in the United Kingdom is discussed in this article, where it threatens to sever access to the single market in the European Union (EU).
Abstract: Brexit poses a profound challenge to the economic fortunes of the financial services sector in the United Kingdom (UK) because it threatens to sever access to the single market in the European Unio...
31 citations
TL;DR: The authors argue that the debate about future growth models for the UK economy is built around historically specific path dependencies and argue that this debate should be built around the dependencies between the UK and the EU.
Abstract: Brexit has reopened and repoliticised the debate about future growth models for the UK economy. This contribution argues that this debate is built around historically specific path dependencies tha...
30 citations
TL;DR: A key battle has been fought within the UK cabinet on the direction of post-Brexit trade policy as mentioned in this paper, with the opposing sides have favoured either continued alignment or a 'hard' break with the European Union.
Abstract: A key battle has been fought within the UK cabinet on the direction of post-Brexit trade policy. The opposing sides have favoured either continued alignment or a ‘hard’ break with the European Unio...
30 citations
TL;DR: Geoengineering would mask and reproduce capital's contradictory needs to selfexpand, on the one hand, and maintain a stable climate system on the other. The Plan B frame, which presents geoengine...
Abstract: Geoengineering would mask and reproduce capital’s contradictory needs to self-expand, on the one hand, and maintain a stable climate system, on the other. The Plan B frame, which presents geoengine...
28 citations
TL;DR: In this paper, the authors explore how systemic risk has been governed at the international level after the financial crisis and how macroprudential ideas have been widely embraced, while the policy instruments used t...
Abstract: This article explores how systemic risk has been governed at the international level after the financial crisis. While macroprudential ideas have been widely embraced, the policy instruments used t...
27 citations
TL;DR: In this paper, the authors offer a critique of the prevailing understanding of the relationship between neoliberalism and classic nineteenth-century liberalism in contemporary international political economy (IPE) and propose a new way to understand the relationship.
Abstract: The article offers a critique of the prevailing understanding of the relationship between neoliberalism and classic nineteenth-century liberalism in contemporary international political economy (IP...
TL;DR: The rapid expansion of the Islamic economy, which by some estimates has reached a size of US$4 trillion, presents an intriguing test ca... as mentioned in this paper, which is an interesting test for the development of Islamic economy.
Abstract: Recent years have witnessed the rapid expansion of the Islamic economy, which by some estimates has reached a size of US$4 trillion. The growth of the Islamic economy presents an intriguing test ca...
TL;DR: In this article, the authors examine what could be adequate criteria for the normative legitimacy of investor-state dispute settlement (ISDS) and argue that ISDS can only be minimally legitimate if there are sufficient procedural safeguards to ensure fair access to the proceedings and equal consideration of their interest for all those affected by investment tribunals' or courts' decisions.
Abstract: The inclusion of an investment chapter in the Comprehensive Economic and Trade Agreement (CETA) and the Transatlantic Trade and Investment Partnership (TTIP) has encountered significant opposition, especially in relation to Investor-State Dispute Settlement (ISDS). In this context, the EU has proposed several changes to the traditional procedures, including the creation of an investment court. The need to reform ISDS has long been recognised, but the key question remains: What is required for such a dispute settlement mechanism to have legitimate authority? Drawing from insights in legal theory and political philosophy, we examine what could be adequate criteria for the normative legitimacy of ISDS. We argue that ISDS can only be minimally legitimate if there are sufficient procedural safeguards to ensure fair access to the proceedings and equal consideration of their interest for all those affected by investment tribunals’ or courts’ decisions. Furthermore, we emphasize the need to look beyond what potential beneficial and adverse consequences of ISDS are, and explain that the appointment of the judges by the state parties and the reintroduction of some control of the state parties over dispute settlement outcomes are not sufficient to guarantee the normative legitimacy of ISDS.
TL;DR: In this article, the ambiguous relation between right-wing populism and neoliberalism in Germany is analyzed and the connections between and convergence of right wing populism and Neoliberalism are discussed.
Abstract: This article analyses the ambiguous relation between right-wing populism and neoliberalism in Germany. It concentrates on the connections between and convergence of right-wing populism and ...
TL;DR: In this paper, the authors explored the changes in monetary policymaking in Hungary and Turkey in the context of the post-2008 global financial crisis and restructuring and found that both countries went through a thorough re...
Abstract: This article explores the changes in monetary policymaking in Hungary and Turkey in the context of the post-2008 global financial crisis and restructuring. Both countries went through a thorough re...
TL;DR: In this paper, the authors investigated the effects of domestic state-society structures on decisions about SWF creation and their evolving structure and found that there are systematic links between the sovereign fund types and domestic structures; these structures include and exclude socioeconomic actors that influence policy-making decisions.
Abstract: The present article brings domestic politics into an analysis on sovereign wealth funds (SWFs) that are relevant for the study of contemporary geopolitics. What are the domestic drivers behind SWF creation, and how does a country’s domestic political environment affect the creation of these funds? Using a comparative historical case study on sovereign funds in Gulf Cooperation Countries, this article investigates the effects of domestic state–society structures on decisions about SWF creation and their evolving structure. Thereby, this article adds to an emerging stream of literature that looks at the drivers and implications of SWFs. One of the key findings of this analysis is that there are systematic links between the sovereign fund types and domestic structures; these structures include and exclude socio-economic actors that influence policy-making decisions.
TL;DR: The authors make divergent predictions about the impact of new powers on the global political economy, and argue that a more even distribution of power will erode international cooperation, leading to a weaker international cooperation.
Abstract: Existing theories make divergent predictions about the impact of new powers on the global political economy. Some argue that a more even distribution of power will erode international cooperation, ...
TL;DR: The integration of small states into the international financial system has constrained their ability to enact the traditional macroeconomic tools of fiscal and monetary policy as mentioned in this paper, which has led to their inability to enact macroeconomic policies.
Abstract: The integration of small states into the international financial system has constrained their ability to enact the traditional macroeconomic tools of fiscal and monetary policy. As systems of mortg...
TL;DR: There has already been some academic discussion of the role of the Irish newspapers in fuelling the country's residential property boom that crashed in 2008 as mentioned in this paper, and several academic commentators have argu...
Abstract: There has already been some academic discussion of the role of the Irish newspapers in fuelling the country's residential property boom that crashed in 2008. Several academic commentators have argu...
TL;DR: This article analyzed how a state's reactive currency statecraft is shaped by its strategic reaction to an international currency issued by a foreign state, by devoting special attention to its broa...
Abstract: This study analyses how a state’s reactive currency statecraft – its strategic reaction to an international currency issued by a foreign state – is shaped, by devoting special attention to its broa...
TL;DR: In this paper, the authors have begun to rethink those explanations of the eurozone crisis that rely on narratives stressing the "immaturity" of political and economic governance in the countr...
Abstract: Recent literature on the eurozone crisis has begun to rethink those explanations of its origins that rely on narratives stressing the ‘immaturity’ of political and economic governance in the countr...
TL;DR: In this article, international bond markets are thought to be the likely location for the operation of financial market pressures on emerging market (EM) government policy, because of their economic importance.
Abstract: Because of their economic importance, international bond markets are thought to be the likely location for the operation of financial market pressures on emerging market (EM) government policy. An ...
TL;DR: In this paper, the authors argue that greater insulation of trade executives from interest groups and legislators results in their ability to set the agreement agenda independently, in accordance with their normative preferences.
Abstract: The European Union (EU) and the United States (US) are signing preferential trade agreements (PTAs) increasingly used as vehicles for exporting social regulation, such as labour and environmental standards. Despite the similarity in terms of the inclusion of such provisions, their design varies greatly between US and EU agreements. The US exports its domestic standards, relying on coercive enforcement, while the EU emphasises international rules and soft measures. Why do US PTAs have stricter social standards than those signed by the EU? Using the principal–agent approach to explain the domestic politics of social provisions in EU and US PTAs, I argue that greater insulation of trade executives from interest groups and legislators results in their ability to set the agreement agenda independently, in accordance with their normative preferences. The argument is supported by case studies and original interview data.
TL;DR: In this paper, the authors highlight the importance of the scalar dimensions of materiality and culture in making disruptive resistance partially successful in Ireland's anti-water charges/anti-austerity protests.
Abstract: Across Europe, resistance to austerity takes place in the household, the local community, and the everyday. Disruptive practices of refusal and subversion leave elite domination incomplete in the age of austerity. Under what conditions, disruptive resistance affects national and international policy-making is less clear. The article uses the analytical concept of scalar politics to engage this question. Exploring anti-water charges/anti-austerity protests in the Republic of Ireland, I highlight the importance of the scalar dimensions of materiality and culture in making disruptive resistance partially successful in this case. Economic crisis allowed Irish elites to transfer water reforms onto international and European political scales. The physical conditions required for reform meant that sustained local disruptions rendered implementation impossible. Irish history and culture provided semiotic signifiers to mobilise against an overwhelming force of domination. Scalar politics constitutes a usef...
TL;DR: In recent years, central banks have continued to preach inflation targeting even as they have pursued a wide range of unorthodox inflation-management policies as discussed by the authors, and the disconnect between discourse a...
Abstract: In recent years, central banks have continued to preach inflation targeting even as they have pursued a wide range of unorthodox inflation-management policies. As the disconnect between discourse a...
TL;DR: In this paper, the authors investigated why foreign countries support the internationalisation of the renminbi (RMB) by establishing offshore RMB centers. And they found that foreign countries have openly stated that internationalization of the count...
Abstract: Why do foreign countries support the internationalisation of the renminbi (RMB) by establishing offshore RMB centres? The Chinese government has openly stated that internationalisation of the count...
TL;DR: Using newly declassified documents from the British Public Records Office, the authors argue that the finance-dependent growth regime typified the UK economy in the period up to the Great Crash of 2008.
Abstract: Using newly declassified documents from the British Public Records Office, we argue that the finance-dependent growth regime that typified the UK economy in the period up to the Great Crash of 2008...
TL;DR: While the literature on business power and global finance has illuminated the ways in which financial institutions limit the policy autonomy of states in developing countries as discussed by the authors, we know much less abo...
Abstract: While the literature on business power and global finance has illuminated the ways in which financial institutions limit the policy autonomy of states in developing countries, we know much less abo...
TL;DR: The transfer of environmentally sound technologies as a crucial means of implementation to meet mitigation and adaptation has been discussed during the negotiation to meet climate change as discussed by the authors. But, as discussed in this paper:
Abstract: Global governance on climate change has embraced the transfer of environmentally sound technologies as a crucial means of implementation to meet mitigation and adaptation. During the negotiation to...
TL;DR: The persistence of struggles by popular sectors in the context of the pink tide has generated ongoing debates about how to interpret the region's left turn as mentioned in this paper. But these movements are understood.
Abstract: The persistence of struggles by popular sectors in the context of the pink tide has generated ongoing debates about how to interpret the region’s left turn. For some, these movements are understood...