The War of Ideas a Primer for Academic Authors Editorial
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Van Der Waag 1
Van der Waag 1 Georgetown University College of Arts and Sciences Theology Department Course Title: God, Power, and Money Course #: THEO 158-01 Location: Walsh 492 Time: TTH 4:15-5:30 PM Office Hours: and by appt. Office Location: Berkley Center 3307 M Street, Suite 200 Contact: [email protected] I. Course Description: Normative discussion about the basic institutional patterns for economic life remains a major point of debate today among both secular and religious groups throughout the world because of economic globalization and the persistence of wide-scale poverty. The desire to address the challenges of economic globalization and the problem of global poverty, as defined by The United Nation’s Millennium Development Goals, is a commitment shared by many within these groups. Although secular and religious organizations often share a common commitment to address the challenges brought about by economic globalization as well as meet the needs of the poor and marginalized, they often differ about the most suitable means to meet this challenge and their needs. The purpose of the course is to examine how religious groups, particularly Christian denominations, have thought about these issues – particularly the problem of eradicating poverty today. The first part of the course focuses on the teaching aspect of the Christian tradition regarding economic life and its basic institutional structures. The historical survey begins at the end of the nineteenth century at the height of the Industrial Revolution to the rise of economic globalization -
(1899-1992) Born in Austria in 1899, Nobel Prize-Winning Economist Friedrich Von Hayek Was an Advocate of Free-Market Capitalism
Friedrich von Hayek 1 (1899-1992) Born in Austria in 1899, Nobel Prize-winning economist Friedrich von Hayek was an advocate of free-market capitalism. He is known for his criticism of the prevailing economic theories of the 20th century, Keynesian economic models and socialism. Excerpt from The Commanding Heights by Daniel Yergin and Joseph Stanislaw, 1998 ed., pp. 141-144. In retrospect, it was the awarding of the 1974 Nobel Prize in economics that first captured, almost by chance, the great intellectual change. The Swedish academy wanted to honor Gunnar Myrdal, distinguished Keynesian, a father of development economics, and a great figure of Swedish socialism. But the grantors, worried about the appearance of choosing so local a favorite, decided that they ought to balance the ticket with a more conservative figure, and they awarded the prize to Myrdal jointly with Friedrich von Hayek. A good part of the economics profession was scandalized by the choice of Hayek; many economists in the United States, if polled, would have hardly even considered him an economist. He was regarded as right-wing, certainly not mainstream, even something of a crank as well as a fossil from an archaic era.... Yet the award documented the beginning of a great shift in the intellectual center of gravity of the economies profession toward a restoration of confidence in markets, indeed a renewed belief in the superiority of markets over other ways of organizing economic activity. Within a decade and a half, the shift would be largely complete. And the eventual victory of this viewpoint was really a tale of two cities—Vienna and Chicago. -
THE COMMANDING HEIGHTS: the Battle Between Government and the Marketplace That Is Remaking the Modern World by Daniel A
BOOK REVIEW THE COMMANDING HEIGHTS: The Battle Between Government and the Marketplace That is Remaking the Modern World by Daniel A. Yergin and Joseph Stanislaw (Simon & Schuster, 1998,457 pages including notes and indices). Reviewed by Ken Malloy* The Rt. Hon. Sir Winston Spencer Churchill (1874-1965) was reputed to have said: "If you are a conservative at twenty, you have no heart. If you are a liberal at forty, you have no brain." Drs. Daniel Yergin and Joseph Stanislaw's recently published book, The Commanding Heights: The Battle Between Government and the Marketplace that is Remaking the Modern World, convincingly demonstrates that the maturation of economic judgment at the core of this dictum applies to nation states as well as individuals. Given their prominence in the energy industry, however, there is less focus on energy than might have been expected. Following Churchill's adage and the thesis of Commanding Heights, the maturity of middle age is evident in much energy policy, both domestically and globally. Unfortunately, such maturity is not evident in retail energy restructuring policy which, while grudgingly approaching midlife, still clings nostalgically to its past predilection of making policy with its heart, not its brain. Yergin is best known to us in the energy industry for his remarkable, Pulitzer Prize winning book, The Prize: The Epic Quest for Oil, Money and Power. Less remembered is the fact that Yergin was one of the editors of Energy Future: A Report of the Energy Project at the Haward Business School, an important early contribution propelling energy's public policy dialogue. -
Reform in Deep Water Zone: How Could China Reform Its State- Dominated Sectors at Commanding Heights
Reform in Deep Water Zone: How Could China Reform Its State- Dominated Sectors at Commanding Heights Yingqi Tan July 2020 M-RCBG Associate Working Paper Series | No. 153 The views expressed in the M-RCBG Associate Working Paper Series are those of the author(s) and do not necessarily reflect those of the Mossavar-Rahmani Center for Business & Government or of Harvard University. The papers in this series have not undergone formal review and approval; they are presented to elicit feedback and to encourage debate on important public policy challenges. Copyright belongs to the author(s). Papers may be downloaded for personal use only. Mossavar-Rahmani Center for Business & Government Weil Hall | Harvard Kennedy School | www.hks.harvard.edu/mrcbg 1 REFORM IN DEEP WATER ZONE: HOW COULD CHINA REFORM ITS STATE-DOMINATED SECTORS AT COMMANDING HEIGHTS MAY 2020 Yingqi Tan MPP Class of 2020 | Harvard Kennedy School MBA Class of 2020 | Harvard Business School J.D. Candidate Class of 2023 | Harvard Law School RERORM IN DEEP WATER ZONE: HOW COULD CHINA REFORM ITS STATE-DOMINATED SECTORS AT COMMANDING HEIGHTS 2 Contents Table of Contents Contents .................................................................................................. 2 Acknowledgements ................................................................................ 7 Abbreviations ......................................................................................... 8 Introduction ......................................................................................... -
Ulf Zimmermann on the Commanding Heights: the Battle
Daniel Yergin, Joseph Stanislaw. The Commanding Heights: The Battle Between Government and the Marketplaces That Is Remaking the Modern World. New York: Simon & Schuster, 1998. 457 pp. $26.00, cloth, ISBN 978-0-684-82975-3. Reviewed by Ulf Zimmermann Published on H-PCAACA (August, 1998) Lenin made his antepenultimate public ap‐ down to government regulation in the United pearance to defend his desperate readmission of States. private trade and agriculture in 1922, declaring India's independence from British rule as of that the state would, after all, retain control of 1947 marked the beginning of the end of colonial‐ what he christened the "commanding heights." ism, and all the newly emerging countries, like In‐ Yergin and Stanislaw are concerned to explain dia, saw state control as the only alternative. (It why the control of these heights has increasingly had, after all, worked in industrial latecomers like shifted from the state to the market in recent France and Germany, but, mutatis mutandis, years. They do this by giving not just a global many of these new nations did not let go of their gazetteer of twentieth-century politics and eco‐ industries when they could go it on their own-- nomics but also an equally insightful guide to the and ultimately strangled them.) Indian policymak‐ ideas and individuals behind this shift. ers, for example, eventually recognized the great With the failures of capitalism in the 1920s entrepreneurial successes Indians were achiev‐ and 1930s, and the initial successes of govern‐ ing, as in the U.S., were possible only once they ments east and west, both in the New Deal and in were out of India and its overregulated economy. -
In 1918, the Labor Party Had Adopted a Constitution Containing What
Labor Nationalizes the Heights 1 Excerpt from The Commanding Heights by Daniel Yergin and Joseph Stanislaw, 1998 ed., pp. 25-27. Copyright © 1998 by Daniel A. Yergin and Joseph Stanislaw. Reprinted by permission of Simon & Schuster, Inc., N.Y. All rights reserved. In 1918, the Labor Party had adopted a constitution containing what became the famous Clause IV, which, in language written by Sidney Webb, called for "common ownership of the means of production, distribution, and exchange." But what were these words to mean in practical terms? The answer came during World War II. One evening in 1944, a retired railway worker named Will Cannon, drawn back into the workforce to help in the marshaling yard, happened to drop by a local union meeting in Reading, not far from London. In the course of the meeting he decided to propose a motion calling for "nationalization," which was approved by the local. The motion won national attention, and the Labor Party ended up adopting it in December 1944. Will Cannon's motion would have a powerful global echo. In July 1945, Labor came into power totally committed to nationalization and determined to conquer the "commanding heights" of the economy, having borrowed the term from Lenin by the mid-1930s. In their quest for control of the commanding heights after World War II, the Laborites nationalized the fragmented coal industry, which provided 90 percent of Britain's energy at the time. They did the same to iron and steel, railroads, utilities, and international telecommunications. There was some precedent for this even in the British system; after all, it was Winston Churchill himself who, as first lord of the Admiralty in 1911, had purchased a controlling government stake in what became British Petroleum in order to ensure oil supply for the Royal Navy. -
Privatization, Democracy, and the State in India
Privatization, Democracy, and the State in India Alka Sapat Florida Atlantic University Paper prepared for the Anti-Essentialism Conference, March 2-3, 2007, Hollywood Beach, Ft. Lauderdale. Introduction Several countries underwent major transformations of their economies in the last two decades. The most important shift globally, particularly in developing countries has been to move towards a market-based economy and the phenomenon of globalization. From various treatises on the subject ranging from “Jihads to McWorlds” (Barber 1995) to “Lexuses and Olive Trees” (Friedman 2000) and ‘flat worlds’ (Friedman 2005), globalization has become a household word given the attention from scholars, journalists, and the populace at large. Apart from being the mot du jour, globalization, its causes and its consequences, evokes strong emotions and debate by both its proponents and opponents alike (Naisbitt 1994; Farazmand 1999). Lumped together, sometimes almost synonymously is the phenomenon of privatization. Privatization, like globalization, has also received its fair share of attention, from its supporters and detractors. On the one hand, privatization purports to unleash economic freedoms and allow private initiative and enterprise. On the other hand, however, privatization has been critiqued for its essentialist notions of efficiency and rationality and for undermining democracy and community (Farazmand 1999; Lindblom, 1977; Heilbroner 1990; Korten 1995). In particular, some scholars have argued that market forces in the form of multinational corporations frequently aid repressive regimes (Cottam 1979) and often cause local people to loose control of their communities (Mele 1997, Korten 1995). I add to this debate by examining in particular, the impact of privatization on democracy in India. -
Communism and Economic Modernization
July 2012 No.92 Communism and Economic Modernization Mark Harrison WORKING PAPER SERIES Centre for Competitive Advantage in the Global Economy Department of Economics Communism and Economic Modernization Mark Harrison* Department of Economics and CAGE, University of Warwick Centre for Russian and East European Studies, University of Birmingham Hoover Institution on War, Revolution, and Peace, Stanford University Abstract The paper examines the range of national experiences of communist rule in terms of the aspiration to ‘overtake and outstrip the advanced countries economically’. It reviews the causal beliefs of the rulers, the rise and fall of their economies (or, in the case of China, its continued rise), the core institutions of communist rule and their evolution, and other outcomes. The process of overcoming a development lag so as to approach the global technological frontier has required continual institutional change and policy reform in the face of resistance from established interests. So far, China is the only country where communist rule has been able to meet this requirement, enabled by a new deal with political and economic stakeholders. The paper places the “China Deal” on a spectrum previously limited to the Soviet Big and Little Deals. Keywords: Beliefs, China, communism, convergence, growth, institutions, modernization, policy reform, Russia. JEL Codes: B14, H56, N40, P20. * Mail: Department of Economics, University of Warwick, Coventry CV4 7AL, United Kingdom. Email: [email protected]. This paper is a preliminary draft for The Oxford Handbook on the History of Communism, edited by Stephen A. Smith in preparation for Oxford University Press. I thank Nick Crafts, Paul R. -
1 (1883-1946) John Maynard Keynes Was a British Economist During The
John Maynard Keynes 1 (1883-1946) John Maynard Keynes was a British economist during the first half of the 20th century best known for his revolutionary theories on the causes of unemployment and recession, which came to be known as Keynesian economics. Excerpted from The Commanding Heights by Daniel Yergin and Joseph Stanislaw, 1998 ed., pp. 39-42. The most influential economist of the 20th century, John Maynard Keynes was a product of the late Victorian and Edwardian eras, a period when stability, prosperity, and peace were assumed and when Britain ruled the world economy. Keynes never lost the self-confidence, self-assurance, and indeed the optimism of that time. But his intellectual career, and his profound impact, arose from his efforts to make sense of the disruptions and crises that began with the first world war and continued through the Great Depression. Descended from a knight who had crossed the English Channel with William the Conqueror, Keynes was the son of a Cambridge University economist. Educated at Eton and Cambridge, he demonstrated from his early years a dazzling, wide-ranging intellect, along with an arrogance and what seemed to some a dismissive elitism. His establishment habits (including the signature homburg normally associated with a City of London stockbroker) and his pride in being a member of what he called the "educated bourgeoisie" were combined with chronic social and intellectual rebellion, orneriness, and the lifestyle of a Bloomsbury bohemian and aesthete. His daunting mathematical dexterity was complemented by a considerable literary grace, whether the subject was the subtleties of economic thought or his obsession with the hands of statesmen. -
Failure of Labour Politics in Britain, 1964-79
In Place of Liberation - Failure of Labour Politics in Britain, 1964-79 Shannon Ikebe 2011 Politics Honors Thesis Contents Introduction: Keynes’ Children in the 1970s - 3 Chapter 1: Post-Fordism That Never Was - 7 Chapter 2: Ideas and Political Economy - 25 Chapter 3: Welfare State and the Social Wage - 46 Chapter 4: Trade Unions and the Social Contract - 96 Conclusion: How Did the Lights Go Out? - 141 2 Introduction: Keynes’ Children in the 1970s “Objective conditions have never made socialism seem so necessary and so achievable. Capitalism’s self-justification as the natural means of meeting human needs and expanding human possibilities seems more obviously groundless than ever, with every structure of the economy out of joint with human needs… moreover, the means – or at least the groundwork – for achieving such a society, the organizations created by working people themselves, have grown… as the crisis has deepened.” – Hilary Wainwright, Beyond the Fragments (1979) In the midst of the Great Depression, John Maynard Keynes wrote a pithy tract envisioning an optimistic future in which the “economic problem” no longer exists.1 In Economic Possibilies for Our Grandchildren, he posited in 1930 that the generation of his grandchildren would be freed from the struggle for subsistence, because of the tremendous growth in productivity; the opportunity to transcend economic insecurity would be a world-historical moment, in which humanity overcomes what “always has been hitherto the primary, most pressing problem of the human race” and faces a delightful prospect of emancipation from economic imperatives.2 In the past centuries or even millenia, freedom from alienating labor was the privilege for the few, directly dependent upon exploitation of the mass of workers; because of technological transformations, Keynes posited, the realm of freedom could soon be universally accessible. -
Managing Globalization and Anti-Globalization
Managing Globalization and Anti-Globalization MGMT 208 Professor Mitchell A Orenstein [email protected] Office: 745 Williams Hall, REES [email protected] Office Hours: Anytime 8am-10pm Phone: 202-415-4066 (cell) Spring 2021 Synchronous Zoom Sessions Course Description: Why has globalization spread so rapidly, only to be over-taken by anti- globalization movements? Why are anti-globalization movements particularly powerful in the United States and the United Kingdom, the two countries most responsible for the rise of globalization? This course examines the macro-economic management of globalization, and why it rises and falls, in the sweeping context of the political economy of the last 150 years. After taking this course, students will better understand the management challenges posed by globalization, sources of anti- globalization reactions, what causes globalization and anti-globalization to rise and fall in importance, and how to deal with present-day challenges. Students will examine processes of globalization at University of Pennsylvania and how managers of the global economic system deal with challenges posed by new technologies such as crypto-currencies and global issues such as inequality and immigration. This course provides students with a worldview that will enhance understanding of — and ability to manage — our global economy. Course Requirements: This course requires a lot of reading and students should be prepared to jump right in to a history of the global economy (Frieden). A short introduction (Steger) and a PBS documentary (Commanding Heights) enable students without much background in global political economy to ease into the material. The midterm exam tests primarily on knowledge of the history of the global economy attained from the Frieden book, so make plans to read this book thoroughly prior to the midterm. -
The New Commanding Heights
The New Commanding Heights Arnold Kling and Nick Schulz n the early 1920s, the Russian economy was flagging, having been Iravaged by years of war and political turmoil. In an attempt at revival, Vladimir Lenin initiated a series of controversial reforms, including per- mitting a bit of profit-making enterprise in some areas of the economy. This move naturally shocked many Bolsheviks, who had risked their lives in the Russian Revolution in order to advance communist principles. Eager to alleviate their concerns, Lenin addressed the communist-party faithful at a convention in 1922. He told them not to worry: The reforms were relatively modest, and the new Soviet state would always retain its control over what he called the “commanding heights” of the economy. By “commanding heights,” Lenin meant the critical sectors that dominated economic activity — primarily electricity generation, heavy manufacturing, mining, and transportation. Because these industries were the foremost drivers of employment, production, and consumption in Russia — and because they were the essential growth sectors in any economy of that era that sought to be called “modern” — government control of these particular sectors meant government dominance over the economic life of the nation. A communist government could af- ford to permit relatively free markets in less significant sectors, Lenin thought, because as long as it controlled those industries that formed the heart of the economy, it effectively controlled the whole. Throughout much of the 20th century, communist and socialist parties around the world continued to see government dominance of these industries as a key goal. The commanding heights of the economy Arnold Kling is an adjunct scholar with the Cato Institute and a member of the Financial Markets Working Group at the Mercatus Center at George Mason University.