John Stuart Mill on Socialism and Accountability
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Gradualism": the Labour Party and Industry, 1918-1931
ORE Open Research Exeter TITLE The industrial meaning of "gradualism": the Labour party and industry, 1918-1931 AUTHORS Thorpe, Andrew JOURNAL Journal of British Studies DEPOSITED IN ORE 03 March 2008 This version available at http://hdl.handle.net/10036/19512 COPYRIGHT AND REUSE Open Research Exeter makes this work available in accordance with publisher policies. A NOTE ON VERSIONS The version presented here may differ from the published version. If citing, you are advised to consult the published version for pagination, volume/issue and date of publication The Industrial Meaning of "Gradualism": The Labour Party and Industry, 1918-1931 Andrew Thorpe The Journal of British Studies, Vol. 35, No. 1. (Jan., 1996), pp. 84-113. Stable URL: http://links.jstor.org/sici?sici=0021-9371%28199601%2935%3A1%3C84%3ATIMO%22T%3E2.0.CO%3B2-4 The Journal of British Studies is currently published by The University of Chicago Press. Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/journals/ucpress.html. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. -
Working Paper No. 39, Neoliberalism As a Variant of Capitalism
Portland State University PDXScholar Working Papers in Economics Economics 12-12-2019 Working Paper No. 39, Neoliberalism as a Variant of Capitalism Justin Pilarski Portland State University Follow this and additional works at: https://pdxscholar.library.pdx.edu/econ_workingpapers Part of the Economic History Commons, and the Economic Theory Commons Let us know how access to this document benefits ou.y Citation Details Pilarski, Justin "Neoliberalism as a Variant of Capitalism, Working Paper No. 39", Portland State University Economics Working Papers. 39. (12 December 2019) i + 14 pages. This Working Paper is brought to you for free and open access. It has been accepted for inclusion in Working Papers in Economics by an authorized administrator of PDXScholar. Please contact us if we can make this document more accessible: [email protected]. Neoliberalism as a Variant of Capitalism Working Paper No. 39 Authored by: Justin Pilarski A Contribution to the Working Papers of the Department of Economics, Portland State University Submitted for: EC445 “Comparative Economic Systems” 12 December 2019; i + 14 pages Prepared for Professor John Hall Abstract: Economic systems evolve over time in adapting to the needs and deficiency of the system. This inquiry seeks to establish Neoliberalism as—in the language of Barry Clark—a variant of capitalism that evolved out of retaliation of the regulated variant of capitalism. We utilize Barry Clark’s work on the evolution of economic systems in establishing the pattern of adaptation in American capitalism. Then we establish and analyze the neoliberal variant of capitalism in how this evolution retaliated against the existing system rather than adapting the preceding variant. -
The Ontology of Money and Other Economic Phenomena. Dan
Economic Reality: The Ontology of Money and Other Economic Phenomena. Dan Fitzpatrick PhD Thesis Department of Philosophy, Logic and Scientific Method London School of Economics. 1 UMI Number: U198904 All rights reserved INFORMATION TO ALL USERS The quality of this reproduction is dependent upon the quality of the copy submitted. In the unlikely event that the author did not send a complete manuscript and there are missing pages, these will be noted. Also, if material had to be removed, a note will indicate the deletion. Dissertation Publishing UMI U198904 Published by ProQuest LLC 2014. Copyright in the Dissertation held by the Author. Microform Edition © ProQuest LLC. All rights reserved. This work is protected against unauthorized copying under Title 17, United States Code. ProQuest LLC 789 East Eisenhower Parkway P.O. Box 1346 Ann Arbor, Ml 48106-1346 TH f , s*’- ^ h %U.Oi+. <9 Librw<V Brittsn utxwy Oi HouUco. J and Eoonowc Science m >Tiir I Abstract The contemporary academic disciplines of Philosophy and Economics by and large do not concern themselves with questions pertaining to the ontology of economic reality; by economic reality I mean the kinds of economic phenomena that people encounter on a daily basis, the central ones being economic transactions, money, prices, goods and services. Economic phenomena also include other aspects of economic reality such as economic agents, (including corporations, individual producers and consumers), commodity markets, banks, investments, jobs and production. My investigation of the ontology of economic phenomena begins with a critical examination of the accounts of theorists and philosophers from the past, including Plato, Aristotle, Locke, Berkeley, Hume, Marx, Simmel and Menger. -
Competitive Supply of Money in a New Monetarist Model
Munich Personal RePEc Archive Competitive Supply of Money in a New Monetarist Model Waknis, Parag 11 September 2017 Online at https://mpra.ub.uni-muenchen.de/75401/ MPRA Paper No. 75401, posted 23 Sep 2017 10:12 UTC Competitive Supply of Money in a New Monetarist Model Parag Waknis∗ September 11, 2017 Abstract Whether currency can be efficiently provided by private competitive money suppliers is arguably one of the fundamental questions in monetary theory. It is also one with practical relevance because of the emergence of multiple competing financial assets as well as competing cryptocurrencies as means of payments in certain class of transactions. In this paper, a dual currency version of Lagos and Wright (2005) money search model is used to explore the answer to this question. The centralized market sub-period is modeled as infinitely repeated game between two long lived players (money suppliers) and a short lived player (a continuum of agents), where longetivity of the players refers to the ability to influence aggregate outcomes. There are multiple equilibria, however we show that equilibrium featuring lowest inflation tax is weakly renegotiation proof, suggesting that better inflation outcome is possible in an environment with currency competition. JEL Codes: E52, E61. Keywords: currency competition, repeated games, long lived- short lived players, inflation tax, money search, weakly renegotiation proof. ∗The paper is based on my PhD dissertation completed at the University of Connecticut (UConn). I thank Christian Zimmermann (Major Advisor, St.Louis Fed), Ricardo Lagos (Associate Advisor, NYU) and Vicki Knoblauch (Associate Advisor, UConn) for their guidance and support. I thank participants at various conferences and the anonymous refer- ees at Economic Inquiry for their helpful comments and suggestions. -
Real Business Cycles
Real Business Cycles JesusFernandez-Villaverde University of Pennsylvania 1 Business Cycle U.S. economy uctuates over time. How can we build models to think about it? Do we need di erent models than before to do so? Traditionally the answer was yes. Nowadays the answer is no. We will focus on equilibrium models of the cycle. 2 Business Cycles and Economic Growth How di erent are long-run growth and the business cycle? Changes in Output per Worker Secular Growth Business Cycle Due to changes in capital 1/3 0 Due to changes in labor 0 2/3 Due to changes in productivity 2/3 1/3 We want to use the same models with a slightly di erent focus. 3 Stochastic Neoclassical Growth Model Cass (1965) and Koopmans (1965). Brock and Mirman (1972). Kydland and Prescott (1982). Hansen (1985). King, Plosser, and Rebelo (1988a,b). 4 References King, Plosser, and Rebelo (1988a,b). Chapter by Cooley and Prescott in Cooley's Frontier of Business Cycle Research (in fact, you want to read the whole book). Chapter by King and Rebelo (Resurrection Real Business Cycle Mod- els) in Handbook of Macroeconomics. Chapter 12 in Ljungqvist and Sargent. 5 Preferences Preferences: 1 t t t t E0 (1 + n) u ct s ; lt s tX=0 t t for ct s 0; lt s (0; 1) 2 where n is population growth. Standard technical assumptions (continuity, di erentiability, Inada con- ditions, etc...). However, those still leave many degrees of freedom. Restrictions imposed by economic theory and empirical observation. 6 Restrictions on Preferences Three observations: 1. -
The 4 Economic Systems What Is an Economic System?
The 4 Economic Systems What is an Economic System? Economics is the study of how people make decisions given the resources that are provided to them Economics is all about CHOICES, both individual and group choices. We must make choices to provide for our needs and wants. The choices each society or nation selects leads to the creation of their type of economy. 3 Basic Questions Each economic system tries to answer the three basic questions: What should be produced? How it should be produced? For whom should it be produced? How they answer these questions determines the kind of system they have. Four Types of Systems There are four main types of economic systems. The Traditional Economic System The Command Economic System The Market Economic System The Mixed Economic System Each system has its strengths and weaknesses. Traditional Economy In a traditional economy, the customs and habits of the past are used to decide what and how goods will be produced, distributed, and consumed. Each member of society knows from early on what their role in the larger group will be. Jobs are passed down from generation to generation so there is little change in jobs over the generations. In a traditional economy, people are depended upon to fulfill their jobs. If someone fails to do their part, the system can break down. Farming, hunting, and herding are part of a traditional economy. Traditional economies can be found in different indigenous groups. In addition, traditional economies bartering is used for trade. Bartering is trading without money. For example, if an individual has a good and he trades it with another individual for a different good. -
The Meaning of Competition*
HAYEK The Meaning of Competition* Friedrich A. Hayek LINK TO ABSTRACT I. There are signs of increasing awareness among economists that what they have been discussing in recent years under the name of ‘competition’ is not the same thing as what is thus called in ordinary language. But, although there have been some valiant attempts to bring discussion back to earth and to direct attention to the problems of real life, notably by J. M. Clark and Fritz Machlup,1 the general view seems still to regard the conception of competition currently employed by economists as the significant one and to treat that of the businessman as an abuse. It appears to be generally held that the so-called theory of ‘perfect competition’ provides the appropriate model for judging the effectiveness of competition in real life and that, to the extent that real competition differs from that model, it is undesirable and even harmful. For this attitude there seems to me to exist very little justification. I shall attempt to show that what the theory of perfect competition discusses has little claim to be called ‘competition’ at all and that its conclusions are of little use as guides to policy. The reason for this seems to me to be that this theory throughout assumes that state of affairs already to exist which, according to the truer view of the older theory, the process of competition tends to bring about (or to approxi- mate) and that, if the state of affairs assumed by the theory of perfect competition * This essay reproduces the substance of the Stafford Little Lecture delivered at Princeton University on May 20, 1946. -
Modern Monetary Theory: a Marxist Critique
Class, Race and Corporate Power Volume 7 Issue 1 Article 1 2019 Modern Monetary Theory: A Marxist Critique Michael Roberts [email protected] Follow this and additional works at: https://digitalcommons.fiu.edu/classracecorporatepower Part of the Economics Commons Recommended Citation Roberts, Michael (2019) "Modern Monetary Theory: A Marxist Critique," Class, Race and Corporate Power: Vol. 7 : Iss. 1 , Article 1. DOI: 10.25148/CRCP.7.1.008316 Available at: https://digitalcommons.fiu.edu/classracecorporatepower/vol7/iss1/1 This work is brought to you for free and open access by the College of Arts, Sciences & Education at FIU Digital Commons. It has been accepted for inclusion in Class, Race and Corporate Power by an authorized administrator of FIU Digital Commons. For more information, please contact [email protected]. Modern Monetary Theory: A Marxist Critique Abstract Compiled from a series of blog posts which can be found at "The Next Recession." Modern monetary theory (MMT) has become flavor of the time among many leftist economic views in recent years. MMT has some traction in the left as it appears to offer theoretical support for policies of fiscal spending funded yb central bank money and running up budget deficits and public debt without earf of crises – and thus backing policies of government spending on infrastructure projects, job creation and industry in direct contrast to neoliberal mainstream policies of austerity and minimal government intervention. Here I will offer my view on the worth of MMT and its policy implications for the labor movement. First, I’ll try and give broad outline to bring out the similarities and difference with Marx’s monetary theory. -
Cultural Identities and National Borders
CULTURAL IDENTITIES AND NATIONAL BORDERS Edited by Mats Andrén Thomas Lindqvist Ingmar Söhrman Katharina Vajta 1 CULTURAL IDENTITIES AND NATIONAL BORDERS Proceedings from the CERGU conference held at the Faculty of Arts. Göteborg University 7-8 June 2007 Eds. Mats Andrén Thomas Linqvist Ingmar Söhrman Katharina Vajta 2 CONTENTS Contributers Opening Addresses Introduction 1. Where, when and what is a language? Ingmar Söhrman 2. Identity as a Cognitive Code: the Northern Irish Paradigm Ailbhe O’Corrain 3. Language and Identity in Modern Spain: Square Pegs in Round Holes? Miquel Strubell 4. Struggling over Luxembourgish Identity Fernand Fehlen 5. Language Landscapes and Static Geographies in the Baltic Sea Area Thomas Lundén 6. The Idea of Europa will be Fullfilled by Muslim Turkey Klas Grinell 7. National identity and the ethnographic museum The Musée du Quai Branly Project: a French answer to multiculturalism? Maud Guichard-Marneuor 8. Främlingsidentitet och mytbildning av den utländske författaren [English summary: Mythmaking of the Foreign Author and a Reflection on the Identity as a Stranger: The Case of the Swedish Author Stig Dagerman in France and Italy] Karin Dahl 9. Den glokale kommissarien: Kurt Wallander på film och TV [English summary: Kurt Wallander on film and TV] Daniel Brodén 10. Staden, staten och medborgarskapet [English summary: Studying “undocumented immigrants” in the city with Lefebvre’s spatial triad as a point of departure] Helena Holgersson 3 11. Digging for Legitimacy: Archeology, Identity and National Projects in Great Britain, Germany and Sweden Per Cornell, Ulf Borelius & Anders Ekelund 12. Recasting Swedish Historical Identity Erik Örjan Emilsson 4 Contributers Mats Andrén is professor in The History of Ideas and Science at Göteborg University from 2005. -
The Meaning of Competition · Econ Journal Watch : Discovery,Reputation,Monopoly
Discuss this article at Journaltalk: http://journaltalk.net/articles/5923 ECON JOURNAL WATCH 13(2) May 2016: 359–372 Foreword to “The Meaning of Competition” In certain chambers there echo tales of men who justify free enterprise and liberalization with perfect competition and other phantasms. Yet scarcely ever have there been such men, ones of straw aside. As Friedrich A. Hayek suggests in the essay republished here, and as superbly elaborated by Frank M. Machovec in Perfect Competition and the Transformation of Economics (Routledge, 1995), those who would bridle and fetter voluntary enterprise are, in fact, the ones who, double in their stan- dards of failure, rely most on perfect competition. If you know persons entering into such echo chambers, the following may help to save them from themselves, and the rest of us. Daniel B. Klein May 2016 VOLUME 13, NUMBER 2, MAY 2016 359 HAYEK The Meaning of Competition* Friedrich A. Hayek LINK TO ABSTRACT I. There are signs of increasing awareness among economists that what they have been discussing in recent years under the name of ‘competition’ is not the same thing as what is thus called in ordinary language. But, although there have been some valiant attempts to bring discussion back to earth and to direct attention to the problems of real life, notably by J. M. Clark and Fritz Machlup,1 the general view seems still to regard the conception of competition currently employed by economists as the significant one and to treat that of the businessman as an abuse. It appears to be generally held that the so-called theory of ‘perfect competition’ provides the appropriate model for judging the effectiveness of competition in real life and that, to the extent that real competition differs from that model, it is undesirable and even harmful. -
Marxism and Reformism
chapter 5 Marxism and Reformism 1 What were the Theoretical Roots of Reformism? The Tangled Web of ‘Catastrophism’1 The two terms that appear in the title of this chapter, Marxism and reformism, have the singular characteristic of having long lost their specificity in what they denote, and yet also of being used as almost universal categories, as if to desig- nate unambiguous contents whose meaning is generally taken for granted. And the qualities of reformism (reasonableness, pragmatism, gradualism), as coun- terposed to the corresponding lack of such qualities in Marxism (dogmatism, abstractness, revolutionism) are thus fixed in a spatial-temporal dimension in which they always appear the same. Generally, the journalistic-political field has been the privileged terrain for this semantic slippage. But given its weak scientific status, and the inevitable strains coming from themes still running very hot on the political terrain, a far from virtuous circle arises between these political expressions and the institutional spheres meant to be responsible for cool analysis. There are two particular elements that characterise the ways in which this circle tends to be activated: the embryonic-genetic approach, and the absolute counterposition of the terms in question. 1 The ‘catastrophism’ dealt with in this part of the chapter concerns the conceptual whole made to derive (or not) from Marx’s economic categories. As well as this way of considering catastrophism, a not-necessarily-connected and wholly political conception also had a wide circulation, in particular in the Giolittian era. In this latter case ‘catastrophism’ did not consist of the natural result of a process of ‘gradual immiseration’, but of the violent contractions of the passage from the old society to the new one, a passage that would not be without pain. -
Rosa Luxemburg and the Global Violence of Capitalism
Socialist Studies / Études socialistes 6(2) Fall 2010: 160-172 Copyright © 2010 The Author(s) SPECIAL SECTION ON ROSA LUXEMBURG’S POLITICAL ECONOMY Rosa Luxemburg and the Global Violence of Capitalism PAUL LE BLANC Department of History and Political Science, LaRoche College. Pittsburgh, Pennsylvania, United States Abstract: Rosa Luxemburg’s pungent honesty is evident in her critical-minded and ‘unorthodox’ analysis of the economic expansionism of imperialism that arose out of the accumulation of capital. Despite an idiosyncratic reading and critique of Marx’s Capital, she sought to defend and advance the revolutionary perspectives of classical Marxism. Criticisms and counterpoised analyses offered by Rosdolsky, Bukharin, Lenin, and Robinson have not diminished what are generally seen as brilliant contributions. Militarism, war, and inhumanity are perceived as essential to imperialism in her analyses, and imperialism is seen as central to the nature of capitalism. Luxemburg’s account of global economic development reflect impressive economic insight, historical sweep, and anthropological sensitivity that impress critics as well partisans. Résumé : Le franc parler de Rosa Luxemburg est évident dans ses analyses critiques et ‘hétérodoxes’ de l’expansionnisme économique de l’impérialisme qui a émergé de l’accumulation du capital. Malgré une lecture idiosyncratique et critique du Capital de Marx, elle cherchait à défendre et à avancer les perspectives révolutionnaires du marxisme classique. Les critiques et contre-analyses offertes par Rosdolsky, Boukharine, Lénine et Robinson n’ont pas diminué des contributions communément admises comme brillantes. Dans ses analyses, le militarisme, la guerre et l’inhumanité sont perçues comme essentiels à l’impérialisme et l’impérialisme occupe une place centrale dans la nature du capitalisme.