Capitalism

About: Capitalism is a research topic. Over the lifetime, 27714 publications have been published within this topic receiving 858042 citations.

Globalisation, Economic Geography and the Strategy of Multinational Enterprises

Abstract: The intention of this paper is to review the literature linking ownership and location strategies to economic geography and theories of globalisation and to explore new areas of research. This paper examines globalisation in terms of conflicts between markets and economic management, and suggests that the differential pace of globalisation across markets presents a number of challenges to policy makers in local, national and regional governments, and in international institutions. In examining the changing location and ownership strategies of MNEs, it shows that the increasingly sophisticated decision making of managers in MNEs is slicing the activities of firms more finely and in finding optimum locations for each closely defined activity, they are deepening the international division of labour. Ownership strategies, too, are becoming increasingly complex, leading to a control matrix that runs from wholly owned units via FDI through market relationships such as subcontracting, including joint ventures as options on subsequent decisions in a dynamic pattern. The input of lessons from economic geography is thus becoming more important in understanding the key developments in international business. The consequences of the globalisation of production and consumption represent political challenges, and reaction against these changes has led to a questioning of the effects of global capitalism as well as to its moral basis. These four issues are closely intertwined and present a formidable research agenda to which the international business research community is uniquely fitted to respond.

The Global Diffusion of Regulatory Capitalism

Abstract: This article analyzes the rise and diffusion of the new order of regulatory capitalism. It offers an analytical and historical analysis of relations between capitalism and regulation and suggests that change in the governance of capitalist economy is best captured by reference to (1) a new division of labor between state and society (e.g., privatization), (2) an increase in delegation, (3) proliferation of new technologies of regulation, (4) formalization of interinstitutional and intrainstitutional arrangements of regulation, and (5) growth in the influence of experts in general, and of international networks of experts in particular. Regulation, though not necessarily directly by the state, seems to be on the increase despite efforts to redraw the boundaries between state and society.

Critique of the Gotha Program

Abstract: The great significance of Marx's explanation is, that here too, he consistently applies materialist dialectics, the theory of development, and regards communism as something which develops out of capitalism. Instead of scholastically invented, 'concocted' definitions and fruitless disputes over words (What is socialism? What is communism?), Marx gives analysis of what might be called the stages of the economic maturity of communism.

Continuity and Change in Contemporary Capitalism

Abstract: In the early 1980s, many observers, argued that powerful organized economic interests and social democratic parties created successful mixed economies promoting economic growth, full employment, and a modicum of social equality The present book assembles scholars with formidable expertise in the study of advanced capitalist politics and political economy to reexamine this account from the vantage point of the second half of the 1990s The authors find that the conventional wisdom no longer adequately reflects the political and economic realities Advanced democracies have responded in path-dependent fashion to such novel challenges as technological change, intensifying international competition, new social conflict, and the erosion of established patterns of political mobilization The book rejects, however, the currently widespread expectation that ‘internationalization’ makes all democracies converge on similar political and economic institutions and power relations Diversity among capitalist democracies persists, though in a different fashion than in the ‘Golden Age’ of rapid economic growth after World War II

Self-Ownership, Freedom and Equality

Abstract: In this book G. A. Cohen examines the libertarian principle of self-ownership, which says that each person belongs to himself and therefore owes no service or product to anyone else. This principle is used to defend capitalist inequality, which is said to reflect each person's freedom to do as he wishes with himself. The author argues that self-ownership cannot deliver the freedom it promises to secure, thereby undermining the idea that lovers of freedom should embrace capitalism and the inequality that comes with it. He goes on to show that the standard Marxist condemnation of exploitation implies an endorsement of self-ownership, since, in the Marxist conception, the employer steals from the worker what should belong to her, because she produced it. Thereby a deeply inegalitarian notion has penetrated what is in aspiration an egalitarian theory. Purging that notion from socialist thought, he argues, enables construction of a more consistent egalitarianism.