Showing papers on "Capitalism published in 2002"

The Future of the Capitalist State

Abstract: List of Boxes. List of Tables and Figure. Preface. Abbreviations. Introduction. 1. Capitalism and the Capitalist Type of State. 2. The Keynesian Welfare National State. 3. The Schumpeterian Competition State. 4. Social Reproduction and the Workfare State. 5. The Political Economy of State Rescaling. 6. From Mixed Economy to Metagovernance. 7. Towards Schumpeterian Workfare Postnational Regimes?. Notes. References. Index.

Liberalism, Neoliberalism, and Urban Governance: A State‐Theoretical Perspective

Abstract: This paper discusses the recurrence and the recurrent limitations of liberalism as a general discourse, strategy, and regime. It then establishes a continuum of neoliberalism ranging from a project for radical system transformation from state socialism to market capitalism, through a basic regime shift within capitalism, to more limited policy adjustments intended to maintain another type of accumulation regime and its mode of regulation. These last two forms of neoliberalism are then related to a broader typology of approaches to the restructuring, rescaling, and reordering of accumulation and regulation in advanced capitalist societies: neoliberalism, neocorporatism, neostatism, and neocommunitarianism. These arguments are illustrated in the final part of the paper through a critique of the World Report on the Urban Future 21 (World Commission 2000), both as an explicit attempt to promote flanking and supporting measures to sustain the neoliberal project on the urban scale and as an implicit attempt to naturalize that project on a global scale.

The Free-Market Innovation Machine: Analyzing the Growth Miracle of Capitalism

Abstract: Preface vii CHAPTER 1: Introduction: The Engine of Free-Market Growth 1 PART I: THE CAPITALIST GROWTH MECHANISM CHAPTER 2: The "Somewhat Optimal" Attributes of Capitalist Growth: Oligopolistic Competition and Routinization of Innovation 19 CHAPTER 3: Oligopolistic Rivalry and Routinization to Reduce Uncertainty 30 CHAPTER 4: Oligopolistic Rivalry and Routine Innovation Spending: Theory of the Engine of Unprecedented Capitalist Growth 43 CHAPTER 5: Independent Innovation in History: Productive Entrepreneurship and the Rule of Law 55 CHAPTER 6: Voluntary Dissemination of Proprietary Technology: Private Profit, Social Gain 73 CHAPTER 7: Oligopolistic Rivalry and Markets for Technology Trading 93 CHAPTER 8: Tradeoff: Innovation Incentives versus Benefits to Others (Distributive Externalities) 120 PART II: INTEGRATION OF INNOVATION INTO THE MAINSTREAM OF MICROTHEORY CHAPTER 9: Oligopolistic Competition, Pricing, and Recoupment of Innovation Outlays 151 CHAPTER 10: Microeconomic Theory of Industrial Organization in the "Innovation-Machine" Economy 161 CHAPTER 11: Recouping Innovation Outlays and Pricing Its Products: Continued 183 CHAPTER 12: Models of Optimal Timing of Innovation 199 CHAPTER 13: Licensing for Profit: Efficiency Implications 215 PART III: ON THE MACRODYNAMICS OF CAPITALISM CHAPTER 14: Capitalism's Unique Innovation Machine: Historical Evidence 245 CHAPTER 15: Macroeconomic Models and Relationships That May Limit Growth 262 CHAPTER 16: Feedback: Innovation as a Self-Nourishing Process 284 Bibliography 299 Index 307

Handbook of Workplace Spirituality and Organizational Performance

Abstract: Written by one of the foremost experts on the business cycle, this is a compelling and engaging explanation of how and why the economic downturn of 2007 became the Great Recession of 2008 and 2009. Author Howard Sherman explores the root causes of the cycle of boom and bust of the economy, focusing on the 2008 financial crisis and the Great Recession of 2008-2009. He makes a powerful argument that recessions and the resulting painful involuntary unemployment are inherent in capitalism itself. Sherman clearly illustrates the mechanisms of Social equity is often referred to as the 'third pillar' in public administration, after efficiency and economy. It concerns itself with the fairness of the organization, its management, and its delivery of public services. This book describes social equity in terms of its arguments and claims in political, economic, and social circumstances.

The Futures of European Capitalism

Abstract: PART I: THE POLICIES OF ECONOMIC ADJUSTMENT PART II: THE PRACTICES OF ECONOMIC ADJUSTMENT PART III: THE POLITICS OF ECONOMIC ADJUSTMENT

Power and Resistance in the New World Order

Abstract: Preface to the first edition Preface to the second edition Personal, Political and Intellectual Influences PART I: SOCIAL AND INTERNATIONAL THEORY Epistemology, Ontology and the Critique of Political Economy Transnational Historical Materialism and World Order Hegemony, Culture and Imperialism PART II: THE POLITICAL ECONOMY OF WORLD ORDER US Hegemony in the 1980s: Limits and Prospects The Power of Capital: Direct and Structural Globalization, Market Civilization and Disciplinary Neo-Liberalism The Geopolitics of the Asian Crisis Law, Justice and New Constitutionalism PART III: GLOBAL TRANSFORMATION AND POLITICAL AGENCY Globalizing Elites in the Emerging World Order Surveillance Power in Global Capitalism The Post-modern Prince Alternatives, Real and Imagined

The Origin of Capitalism: A Longer View

Abstract: In this work, the author reminds us that capitalism is not a natural and inevitable consequence of human nature, nor is it simply an extension of age-old practices of trade and commerce. Rather, it is a product of very specific historical conditions.

The Enemy of Nature: The End of Capitalism or the End of the World?

Abstract: * Preface to the Second Edition * Preface to the First Edition * Part I - The Culprit * Chapter 1 - Introduction * Chapter 2 - The Ecological Crisis * Chapter 3 - Capital * Chapter 4 - Capitalism * Part II - The Domination of Nature * Chapter 5 - On Ecologies * Chapter 6 - Capital and the Domination of Nature * Part III - Ecosocialism * Introduction * Chapter 7 - Critique of Actually Existing Ecopolitics * Chapter 8 - Prefiguration * Chapter 9: Ecosocialism * Afterword * Notes * Bibliography * Index

A history of inequality in South Africa, 1652-2002

Abstract: This work is an anlaysis of economic relations in South Africa. It analyses the work of numerous historians on inequality and exploitation in South Africa around a single theme: the systematic and progressive economic exploitation of indigenous people by settler groups. Second, the author argues that, despite South Africa's transition to democracy, its society is as unequal - if not more so - than before. He claims that in the early 1990s, parallel to the constitutional negotations, a series of informal negotations and interchanges took place behind the scenes during which the local corporate sector, backed by powerful international financial institutions, made a concerted effort to "sell" unfettered capitalism to ANC leaders. This attempt succeeded, resulting in the ANC replacing the RDP with GEAR. The situation of the vast majority of blacks has in fact worsened since the transition to democracy. For this reason, he considers that South Africa's transformation is incomplete. Sampie Terreblanche criticizes the corporate sector for its ruthless pursuit and protection of its own interests, to the detriment of broader South African society. He also criticizes the "new black elite" for its materialism and apparent indifference to the plight of the poor. In a final chapter, he argues that the current system of "neo-liberal democratic capitalism" is inappropriate to a developing country such as South Africa. He calls for a policy shift towards social democracy in which the state should play a more active role in alleviating poverty, redistributing wealth, and attending to social welfare.

Globalization: Capitalism and Its Alternatives

Abstract: Capitalist globalization has been instrumental in globalizing civil and political rights all over the world as a condition of 'free' markets and trade, but capitalist globalizers have no answer to the rapidly accelerating demands for universal economics and social rights, expressed in the enormous growth of local, national, multinational and global NGOs and anti-globalization movements. In this book, based on his highly successful Sociology of the Global System, Leslie Sklair focuses on alternatives to global capitalism, arguing strongly that there are other alternative futures that retain and encourage the positive aspects of globalization whilst identifying what is wrong with capitalism. The negative aspects of capitalist globalization are explored in a new critique which argues that there are two main crises of capitalist globalization: the class polarization crisis and the crisis of ecological unsustainability. The book also presents a new analysis of a long-term alternative to global capitalism: the globalization of human rights.

On the mystery of capital and the myths of Hernando de Soto: What difference does legal title make?

Abstract: Hernando de Soto's new bestseller, The Mystery of Capital, attributes the failure of capitalism in the Third World to the lack of property titles. Many governments around the world are following this advice and are busy distributing legal titles to self-help families. Using data gathered in the now legalised self-help settlements of Bogota , the paper questions a number of the alleged benefits of legalisation. It shows how sales are more common when people lack legal title, how informal finance is available at the commencement of an illegal settlement and how little formal finance is forthcoming after legalisation. Most importantly, it shows that there is little sign of a secondary housing market. And, if there is little possibility of selling a house, home ownership in the self-help suburbs can offer little in the way of capital accumulation. It is hard to make money from a house that cannot be sold. Perhaps, de Soto's argument is less a panacea than a populist dream.

Transnational Capitalism and the Struggle over European Integration

Abstract: 1. Theoretical Perspective: Social Forces and the Struggle Over European Order 2. Global Restructuring, Transnational Capitalism and Rival Projects for European Order 3. The European Roundtable: an Elite Forum of Europe's Emergent Transnational Capitalist Class 4. The Roundtable's Changing Strategic Project and the Transnational Struggle over European Order 5. Transnational Class Agency, the Rise of 'Embedded Neo-Liberalism' and the Evolving European Order References

India Working: Essays on Society and Economy

Abstract: 1. Introduction: the character of the Indian economy 2. Labour, work and its social construction in India 3. Class: Indian development and the intermediate classes 4. The local state and the informal economy 5. Gender, family businesses and business families 6. India's religious plurality and its implications for the economy 7. Caste and corporatist capitalism 8. Space and synergy 9. How India works 10. Postscript: Proto-fascist politics and the economy.

Turning Callon the right way up

Abstract: This paper argues that, contrary to his own claims, Callon's work amounts to a defence of the economists' model of a framed and abstracted market against empirical evidence that contemporary exchange rarely if ever works according to the laws of the market. I start with an example from an Indian village, which shows how other societies also try to frame particular genres of exchange to protect themselves from other varieties of exchange. But both there and within capitalism the frame is precisely a moral system of how exchange ought to be carried out. I then use the example of car purchasing to suggest the highly entangled world of actual exchange within capitalism both between the exchange partners and also between consumers and commerce more generally. Indeed, the actual case studies in Callon's The Laws of the Markets seem to support this conclusion rather than the model put forward in his own introduction and conclusion. These studies, as others cited here, suggest the centrality of entanglements also for higher-level exchanges, such as stock markets and corporate take-overs, and not just for shoppers or other individual actors. As an alternative to Callon I briefly summarize an argument published elsewhere, called 'virtualism', in which I examine the increasing ability of economists and other agents of abstract models such as audit and consultancy to transform the world into closer approximations of their theories and models. I suggest this provides a more fruitful way of understanding the growth and power of abstraction in the contemporary economy.

Capitalism and Freedom

Abstract: Selected by the Times Literary Supplement as one of the "hundred most influential books since the war" How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy—one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. The result is an accessible text that has sold well over half a million copies in English, has been translated into eighteen languages, and shows every sign of becoming more and more influential as time goes on.

Toward a Theory of Property Rights II: The Competition between Private and Collective Ownership

Abstract: This essay broadens the theory of property rights, extending it beyond one based on changes in the importance of externality problems to one that is focused on quite different aspects of exchange. It argues that these aspects have been changing in ways that generally, but not always, have increased capitalism’s productivity relative to collectivism’s. The nature of transactions emphasized here has no necessary connection to, but does not exclude, externality problems. The focus here is on aspects of the relationship between parties who are engaged in exchange activities. Observations on historical happenings supplement the otherwise mainly conceptual and theoretical discussion.

The Two Faces of Globalization: Against Globalization as We Know it

Abstract: The paper shows that the current view of globalization as an automatic and benign force is seriously flawed. It is mistaken because it focuses on only one, positive, face of globalization while entirely neglecting a malignant one. The two key historical episodes that are adduced by the supporters of the "globalization as it is" (the Halcyon days of the 1870-1913, and the record of the last two decades of development) are shown to be misinterpreted. The "Halcyon days" were never Halcyon for those who were "globalized" through colonization since colonial constraints prevented them from industrializing. And they were even less "Halcyon" for those who were taken into slavery. Even among the Western economies, the 19th century globalization, contrary to some views, failed to bring income convergence. The record of the last two decades (1978-1998) is shown to be uniformly worse than that of the previous two (1960-78). It is thus only by a serious misreading of the recent evidence that the partisans of globalization are able to argue for its unmitigated beneficence. Should globalization be abandoned and everyone retire behind protective national walls? Absolutely not. But globalization led by capitalist interests alone is likely, akin to what it accomplished a century ago, to produce a wild global capitalism with social exclusion, unbridled competition and exploitation. Global capitalism needs to be "civilized" in the same way that national capitalisms of the 19th century were "civilized" after World War II-period which then witnessed the fastest growth in history. Yet the civilizing role cannot be done by individual states, but, because of the global nature of capitalism, by global institutions.

Corporate networks in Europe and the United States

Abstract: Corporate networks form part of the institutional structure of markets and the business environment, enabling firms to coordinate their behaviour and regulate competition. Networks perform a number of economic functions: they reduce information asymmetries and uncertainty, and facilitate the redistribution of risk between banks, firms, and investors. Within these networks, firms collectively monitor one another and owners supervise their managers. Part One analyses comparative data on interlocking directorates and capital networks between the large corporations in six countries: Germany, Great Britain, France, the United States, Switzerland, and the Netherlands. The structure of corporate networks is shaped by the traditions, culture, and institutions of a country. The German corporate network, for instance, is highly centralized and includes almost all large corporations. The network in the United States, however, is decentralized and falls into a number of regional centres. Corporate networks may be considered as a configuration of firms that are connected to one another by managers (interlocks). Networks may also be considered as a configuration of managers who meet each other on the board of directors (network of the economic elite). The resources on which the dominance of the economic elite is based are bureaucratic power, property rights, and social capital. The top managers not only have a leading position within large corporations (bureaucratic power), they also represent the owner vis-a-vis the dependent firm on whose board they sit. Thus, bureaucratic control over a company is linked with property rights in the context of specific network configurations. These configurations vary between countries and lead to differing forms of managerial control in Germany, France, Britain, and the United States (Part Two of the book). Part Three concentrates on corporate networks and the structure of the market order in the transitional economies. The type of capitalism that is evolving in these countries in some ways resembles Western managerial capitalism, but with certain significant differences. Privatization created a relatively high concentration of ownership. There is no clear-cut separation of ownership and control, but rather a balance of power between managers and owners.

A critique of social capital.

Abstract: This article critiques the concepts of communitarianism and social capital as used in the United States and in Europe. For the United States, the author focuses on Robert Putnam's understanding of both concepts, showing that the apolitical analysis of the Progressive Era, of the progressive developments in Northern Italy, and of the situation of labor unions in the United States is not only insufficient but wrong. The critique also includes the difference between U.S. communitarianism and its European versions, Christian democracy and New Labour, and the limitations of both approaches. The uses and misuses of these concepts in the political debate are discussed.

Language in New Capitalism

Abstract: What is 'New Capitalism'? The capitalist system has a well-documented capacity to sustain itself through major transformations 'New Capitalism' refers to the new form of capitalism emerging from contemporary transformations We can think of these transformations as simultaneously a 're-structuring' and a 'rescaling' (Jessop, 2000) A 're-structuring', in the sense that there are shifts in relations between different domains or fields of social life most obviously, between the economic field and other fields (including the political, educational and artistic fields), including a 'colonization' of other fields by the economic field Witness what is happening to higher education A 're-scaling', in the sense that there are shifts in relations between different scales of social life between social

Manufacturing Services and Servicing Manufacturing: Knowledge-based Cities and Changing Forms of Production

Abstract: There is an important shift away from production that is dependent upon material resources to production that utilises knowledge as the key source of competitiveness and innovation. Urban areas are key locations for a process that is also changing the way in which goods and services are consumed. The decade of the 1990s was a period of innovation and revitalisation in economic geography; it was also a time when economic geographers began again to explore old concepts in different ways-for example, new industrial spaces-intent on explaining the changing economic landscapes of capitalism. There is a real danger, however, that for economic geography the first decade of the 21st century will be a period of repetition and extension rather than one of development. This paper reviews aspects of the debate about the distinction between service and manufacturing activities and suggests that it needs to be reconsidered in relation to on-going and important changes in the production process that are as important for...

Varieties of capitalism - the institutional foundations of comparative advantages

Abstract: In summary, this is a well-grounded and argued work, both theoretically and empirically, and will be of interest to anyone wishing to understand the complex nature of organisational change, and especially to those who, even though organisational change may not be their central object of study or concern, nonetheless seek to understand the rich and complex debate concerning processes of organisational transformation as a necessary starting point for the analysis of the broader process of transformation of a model of society.

Selling the Free Market: The Rhetoric of Economic Correctness. By James

Abstract: James Arnt Aune's provocative study appears at a time when the appeal to "market forces" has become the ascendant discourse of a triumphal U.S. push for deregulation and integration of global economies. Using the perspective of rhetorical criticism, the author provides a skeptical reading of both academic and popular defenders of laissez-faire capitalism, from public choice theory and radical libertarians to cyberpunk fiction and John Galt's encomium to the free market (Rand, 1957). Ultimately, he argues, free market rhetoric is "at a loss to explain the