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66, 13 January 2014
sanity, humanity and science probably the world’s most read economics journal real-world economics review - Subscribers: 23,924 Subscribe here Blog ISSN 1755-9472 - A journal of the World Economics Association (WEA) 12,557 members, join here - Sister open-access journals: Economic Thought and World Economic Review - back issues at www.paecon.net recent issues: 65 64 63 62 61 60 59 58 57 56 Issue no. 66, 13 January 2014 In this issue: Secular stagnation and endogenous money 2 Steve Keen Micro versus Macro 12 Lars Pålsson Syll On facts and values: a critique of the fact value dichotomy 30 Joseph Noko Modern Money Theory and New Currency Theory: A comparative discussion 38 Joseph Huber Fama-Shiller, the Prize Committee and the “Efficient Markets Hypothesis” 58 Bernard Guerrien and Ozgur Gun How capitalists learned to stop worrying and love the crisis 65 Shimshon Bichler and Jonathan Nitzan Two approaches to global competition: A historical review 74 M. Shahid Alam Dimensions of real-world competition – a critical realist perspective 80 Hubert Buch-Hansen Information economics as mainstream economics and the limits of reform 95 Jamie Morgan and Brendan Sheehan The ℵ capability matrix: GDP and the economics of human development 109 Jorge Buzaglo Open access vs. academic power 127 C P Chandrasekhar Interview with Edward Fullbrook on New Paradigm Economics vs. Old Paradigm Economics 131 Book review of The Great Eurozone Disaster: From Crisis to Global New Deal by Heikki Patomäki 144 Comment: Romar Correa on “A Copernican Turn in Banking Union”, by Thomas Mayer 147 Board of Editors, past contributors, submissions and etc. -
Rising Corporate Concentration, Declining Trade Union Power, and the Growing Income Gap: American Prosperity in Historical Perspective Jordan Brennan
Rising Corporate Concentration, Declining Trade Union Power, and the Growing Income Gap: American Prosperity in Historical Perspective Jordan Brennan February 2016 Rising Corporate Concentration, Declining Trade Union Power, and the Growing Income Gap: American Prosperity in Historical Perspective Jordan Brennan* March 2016 *Jordan Brennan is an economist with Unifor, Canada’s largest private sector labor union, and a research associate of the Canadian Centre for Policy Alternatives. E-mail: [email protected]. Website: www.jordanbrennan.org. Contents Executive Summary 2 Acknowledgments 4 List of Figures 5 Part I: Corporate Concentration, Secular Stagnation, and the Growing Income Gap 6 Part II: Labor Unions, Inflation, and the Making of an Inclusive Prosperity 24 Appendix 48 References 51 1 Executive Summary The rise of income inequality amidst the deceleration of GDP growth must rank as two of the most perplexing and challenging problems in contemporary American capitalism. Comparing 1935–80 with 1980–2013—that is, the Keynesian-inspired welfare regime and, later, neoliberal globalization—the average annual rate of GDP growth was more than halved and income inequality went from a postwar low in 1976 to a postwar high in 2012. How do we account for this double-sided phenomenon? The conventional explanations of secular stagnation and elevated inequality are inadequate, largely because mainstream (“neoclassical”) economics rejects the notion that the amassment and exercise of institutional power play a role in the normal functioning of markets and business. This analytical inadequacy has left important causal elements outside the purview of researchers, policymakers, and the public at large. This two-part analysis investigates some of the causes and consequences of income inequality and secular stagnation in the United States. -
The Buy-To-Build Indicator New Estimates and Comment
The Buy-to-Build Indicator New Estimates and Comment Joseph Francis, Shimshon Bichler and Jonathan Nitzan1 London, Jerusalem and Montreal March-April 2013 Creative Commons The first part of the exchange is a short article by Joseph Francis. The article provides new estimates and an assessment of the buy-to-build indicator for the United States and Britain. The second part offers commentary by Shimshon Bichler and Jonathan Nitzan. 1 Joseph Francis is a PhD candidate at the London School of Economics ([email protected]; http://www.joefrancis.info/). Shimshon Bichler teaches political economy at colleges and universities in Israel ([email protected]; http://bnarchives.net). Jonathan Nitzan teaches political economy at York University in Toronto ([email protected]; http://bnarchives.net). The Buy-to-Build Indicator: New Estimates for Britain and the United States Joseph Francis* London School of Economics www.joefrancis.info March 2013 This note presents new long-term estimates of what Jonathan Nitzan and Shimshon Bichler (2002: 53-4, 82-3; 2009: Ch.15) have named the ‘buy-to-build indicator’, which is calculated as the value of mergers and acquisitions as a percentage of gross capital form- ation. Estimating the buy-to-build indicators is not simple, principally due to the absence of consistent series for expenditure on mergers and acquisitions. Nevertheless, as this note describes, it has proven possible to calculate them for both Britain and the United States. For Britain, the new estimates build principally on the research of the Leslie Hannah, as well as official government statistics, while for the United States, they repres- ent significant revisions of Nitzan and Bichler’s own original estimates. -
Academic Labour, Digital Media and Capitalism
Academic Labour, Digital Media and Capitalism Special Issue, edited by Thomas Allmer and Ergin Bulut tripleC: Communication, Capitalism & Critique 16 (1), 2018, pp. 44-240 http://www.triple-c.at Academic Labour, Digital Media and Capitalism Special Issue, edited by Thomas Allmer and Ergin Bulut tripleC: Communication, Capitalism & Critique 16 (1), 2018, pp. 44-240 Table of Contents Thomas Allmer and Ergin Bulut: Introduction: Academic Labour, Digital Media and Capitalism, pp. 44-48 Thomas Allmer: Theorising and Analysing Academic Labour, pp. 49-77 Maxime Ouellet and Éric Martin: University Transformations and the New Knowledge Production Regime in Informational Capitalism, pp. 78-96 Richard Hall: On the Alienation of Academic Labour and the Possibilities for Mass Intellectuality, pp. 97-113 Marco Briziarelli and Joseph L. Flores: Professing Contradictions: Knowledge Work and the Neoliberal Condition of Academic Workers, pp. 114-128 Jamie Woodcock: Digital Labour in the University: Understanding the Transformations of Academic Work in the UK, pp. 129-142 Jan Fernback: Academic/Digital Work: ICTs, Knowledge Capital, and the Question of Educational Quality, pp. 143-158 Christophe Magis: Manual Labour, Intellectual Labour and Digital (Academic) Labour. The Practice/Theory Debate in the Digital Humanities, pp. 159-175 Karen Gregory and sava saheli singh: Anger in Academic Twitter: Sharing, Caring, and Getting Mad Online, pp. 176-193 Andreas Wittel: Higher Education as a Gift and as a Commons, pp. 194-213 Zeena Feldman and Marisol Sandoval: Metric Power and the Academic Self: Neoliberalism, Knowledge and Resistance in the British University, pp. 214-233 Güven Bakırezer, Derya Keskin Demirer and Adem Yeşilyurt: In Pursuit of an Alternative Academy: The Case of Kocaeli Academy for Solidarity (Non-Peer-Reviewed Reflection Article), pp. -
A Casp Model of the Stock Market Shimshon Bichler and Jonathan Nitzan1
A CasP Model of the Stock Market Shimshon Bichler and Jonathan Nitzan1 Jerusalem and Montreal, November 2016 bnarchives.net / Creative Commons Abstract Most explanations of stock market booms and busts are based on contrasting the underlying ‘fundamental’ logic of the economy with the exogenous, non-economic factors that presumably distort it. Our paper offers a radically different model, examining the stock market not from the mechanical viewpoint of a distorted economy, but from the dialectical perspective of capital- ized power. The model demonstrates that (1) the valuation of equities represents capitalized power; (2) capitalized power is dialectically intertwined with systemic fear; and (3) systemic fear and capitalized power are mediated through strategic sabotage. This triangular model, we posit, can offer a basis for examining the asymptotes, or limits, of capitalized power and the ways in which these asymptotes relate to the historical and ongoing transformation of the cap- italist mode of power. 1. Introduction The purpose of this paper is to outline a capital-as-power, or CasP, model of the stock market. There are two reasons why such a model is needed: first, the stock market has become the main compass of the capitalist mode of power; and, second, so far, we have not developed a CasP theory to describe it.2 Surprising as it may sound, all long-term modeling of the stock market derives from a single meta-dogma that we have previously dubbed the ‘mismatch thesis’ (Bichler and Nitzan 2009, 2015a). The basic premise of this dogma is the general bifurcation between economics and politics (a shorthand for all non-economic realms of society) and the further division, within economics, between the so-called ‘real’ and ‘nominal’ spheres. -
Casp's 'Differential Accumulation Versus Veblen's '
WORKING PAPERS ON CAPITAL AS POWER No. 2018/08 CasP’s ‘Differential Accumulation versus Veblen’s ‘Differential Advantage’ Shimshon Bichler and Jonathan Nitzan November 2018 http://www.capitalaspower.com/?p=2557 CasP’s ‘Differential Accumulation’ versus Veblen’s ‘Differential Advantage’ Shimshon Bichler and Jonathan Nitzan1 Jerusalem and Montreal November 2018 bnarchives.net / Creative Commons (CC BY-NC-ND 4.0) 1. Introduction This paper clarifies a common misrepresentation of our theory of capital as power, or CasP. Many observers tend to box CasP as an ‘institutionalist’ theory, tracing its central process of ‘differential ac- cumulation’ to Thorstein Veblen’s notion of ‘differential advantage’ (Cf. 1904, 1923). This view, we argue, betrays a misunderstanding of CasP, Veblen or both. As we show below, CasP’s notion of dif- ferential accumulation is not only different from, but also diametrically opposed to Veblen’s differential advantage. Our argument is articulated in several steps. Section 2 outlines the key claims of CasP, contrasting them with those of received theory and articulating the way in which they relate and lead to our concept of differential accumulation. Sections 3 and 4 examine Veblen’s twin concepts of strategic sabotage and differential advantage, showing that the latter is concerned not with differential profit, but with the earning of profit as such. Section 5 develops this claim further, demonstrating that Veblen’s analysis of accumulation, hostage to neoclassical absolutes, understood capitalists as seeking not differential profit, but maximum profit. Section 6 examines the historical context in which Veblen was writing, suggesting that this backdrop made it practically impossible for him to conceive – let alone theorize and measure – differential accumulation, even if he had wanted to. -
Belpop Vinylsingels
Themalijst Belpop vinylsingels 4 Vooraf De bib van Kortrijk startte in 1968 met een vinylcollectie. Toen de cd de elpee verdrong bleven de elpees nog een tijdje in Open Kast staan tot ze naar het magazijn verdwenen en nog maar sporadisch uitgeleend werden. Ondertussen deden de meeste ‘discotheken’ hun vinylcollectie weg, ofwel via verkoop, ofwel naar een conservatorium in de buurt, ofwel naar het containerpark. Alleen de plaatselijke producten werden gewoonlijk wel bewaard. In 2003 digitaliseerde Radio2 Kortrijk hun gehele audiotheek en kregen we de kans om hun bestaande vinylcollectie over te nemen. Zo kregen we er in één klap ca. 15.000 vinylelpees bij en ca.20.000 vinylsingles Nu hebben we een collectie van ongeveer 27.000 elpees en 27.000 singles. Onze dubbels hebben we zorgvuldig met elkaar vergeleken en de slechtste exemplaren werden verkocht. Wat doen we nu met ons vinyl? We besloten een gedeelte van onze collectie terug voor het publiek open te stellen in de vorm van digitale kopies. Er zijn een aantal wettelijke restricties die we moeten in acht nemen Het proces mag niet beschouwd worden als het digitaliseren om gemakkelijker te kunnen uitlenen. Wettelijk beschouwen we het cd-schijfje niet als een muziek kopie maar als Erfgoedkopie Om de wetten op het auteursrecht en de rechten van de platenmaatschappijen te beschermen mogen we alleen maar vinyl digitaliseren onder de volgende Voorwaarden 1. De lp mag nooit op cd verschenen zijn. 2. De gekopieerde lp blijft eigendom van de bibliotheek. 3. De gekopieerde cd wordt uitgeleend onder de normale voorwaarden, wordt niet verkocht en blijft dus bezit van de bib. -
Dædalus Issue Is “Witnessing Climate Change
Dædalus Journal of the American Academy of Arts & Sciences Fall 2020 Witnessing Climate Change Nancy L. Rosenblum, guest editor with Robert Jay Lifton · Naomi Oreskes Robert H. Socolow · Dennis F. Thompson Michael B. Gerrard · Mark A. Mitchell Patrick L. Kinney · Rebecca Henderson David W. Titley · Elke U. Weber · Jessica F. Green Rafe Pomerance · Carolyn Kormann Scott Gabriel Knowles · Antonio Oposa Jr. Dædalus Journal of the American Academy of Arts & Sciences “Witnessing Climate Change” Volume 149, Number 4; Fall 2020 Nancy L. Rosenblum, Guest Editor Phyllis S. Bendell, Managing Editor and Director of Publications Peter Walton, Associate Editor Heather M. Struntz, Assistant Editor Committee on Studies and Publications John Mark Hansen, Chair; Rosina Bierbaum, Johanna Drucker, Gerald Early, Carol Gluck, Linda Greenhouse, John Hildebrand, Philip Khoury, Arthur Kleinman, Sara Lawrence-Lightfoot, Alan I. Leshner, Rose McDermott, Michael S. McPherson, Frances McCall Rosenbluth, Scott D. Sagan, Nancy C. Andrews (ex officio), David W. Oxtoby (ex officio), Diane P. Wood (ex officio) Inside front cover: Unknown artist, The Dramatic Birth of a Giant Iceberg, originally printed in The Popular Science Educator, Volume 2, edited by Charles Ray (London: The Amalgamated Press, 1935). Contents 6 Introduction: Paths to Witnessing, Ethics of Speaking Out Nancy L. Rosenblum 25 On Becoming Witnessing Professionals Robert Jay Lifton 33 What Is the Social Responsibility of Climate Scientists? Naomi Oreskes 46 Witnessing for the Middle to Depolarize the Climate Change Conversation Robert H. Socolow 67 The Professional Ethics of Witnessing Professionals Dennis F. Thompson 79 An Environmental Lawyer’s Fraught Quest for Legal Tools to Hold Back the Seas Michael B. -
The London School of Economics and Political Science the Dominant Party System: Clientelism, Pluralism and Limited Contestabilit
The London School of Economics and Political Science The Dominant Party System: Clientelism, Pluralism and Limited Contestability Aris Trantidis A thesis submitted to the European Institute of the London School of Economics for the degree of Master of Philosophy, London, April 2012 1 Declaration I certify that the thesis I have presented for examination for the MPhil degree of the London School of Economics and Political Science is solely my own work other than where I have clearly indicated that it is the work of others (in which case the extent of any work carried out jointly by me and any other person is clearly identified in it). The copyright of this thesis rests with the author. Quotation from it is permitted, provided that full acknowledgement is made. This thesis may not be reproduced without my prior written consent. I warrant that this authorisation does not, to the best of my belief, infringe the rights of any third party. I declare that my thesis consists of 45.655 words. 2 Abstract The thesis extends the conceptual boundaries of authoritarianism to include dominant party systems that meet the procedural definition of democracy but exhibit low degrees of government contestability due to the extensive application of clientelism. The first part re-introduces Robert Dahl’s notion of ‘inclusive hegemony’ which encapsulates the stance of political pluralism on dominant party systems. The thesis develops two arguments in support of a Dahlian approach to dominant party systems. The normative argument discusses the associations between power, incentives, collective action and party organisation to indicate that, in the absence of physical coercion and intimidation, inclusive hegemony is a paradoxical outcome that can only be sustained by the application of a political strategy producing an effect on political behaviour similar to that of coercion. -
Newspaper Reporting of the September 2016 South Australian Mid-Latitude Cyclone
MONASH CLIMATE CHANGE COMMUNICATION RESEARCH HUB Newspaper reporting of the September 2016 South Australian mid-latitude cyclone Published by the Monash Climate Change Communication Research Hub Authors: David C Holmes, Tahnee Burgess Please cite this report as: Holmes D, Burgess T (2017) Newspaper reporting of the September 2016 South Australian mid-latitude cyclone, Monash Climate Change Communication Research Hub, Monash University, Melbourne, pp 32. URL for this report is: https://www.monash.edu/mcccrh/research/newspaper-reporting-south- australian-mid-latitude-cyclone Acknowledgements: This work was carried out with financial support from Monash University, Faculty of Arts and assistance from the Monash Professional Pathways Program. The Hub is also grateful for assistance from Suchismita Chowdhury and Brooke Garas. Australian copyright law applies. For permission to reproduce any part of this report, please contact the corresponding author: Dr. David Holmes, Director, Monash Climate Change Communication Research Hub at [email protected] Cover Design: Tahnee Burgess Table of Contents 1. Executive Summary 2. Introduction Ø Australian attitudes to Climate Change Ø Media impacts on attitudes Ø The South Australian Mid-Latitude Cyclone (SAMLC) • Conditions that shaped the SAMLC • Attribution and Detection Studies • Political Context of the Reporting of the SAMLC 3. Methodology 4. Description of Categories 5. Tables and Findings 6. References 1. Executive Summary • Of the 591 articles analysed, the most dominant narrative was about ‘power outages’ with 51% of all articles falling into this category. • The next highest was primarily about renewables (38%). 12% of all articles had a strong overlap between these first two categories. • The third singular category was made up of commentary by journalists that the issue of the cyclone and the blackouts had become politicised and therefore was about politics itself (20%). -
UC San Diego Electronic Theses and Dissertations
UC San Diego UC San Diego Electronic Theses and Dissertations Title The sources and limits of political enthusiasm Permalink https://escholarship.org/uc/item/7x24v971 Author Poe, Andrew Publication Date 2010 Peer reviewed|Thesis/dissertation eScholarship.org Powered by the California Digital Library University of California UNIVERSITY OF CALIFORNIA, SAN DIEGO The Sources and Limits of Political Enthusiasm A dissertation submitted in partial satisfaction of the requirements for the degree Doctor of Philosophy in Political Science by Andrew Poe Committee in charge: Professor Tracy Strong, Chair Professor Fonna Forman-Barzilai Professor Harvey Goldman Professor Patchen Markell Professor Philip Roeder 2010 Copyright Andrew Poe, 2010 All rights reserved The dissertation of Andrew Poe is approved, and it is acceptable in quality and form for publication on microfilm and electronically: ______________________________________________ ______________________________________________ ______________________________________________ ______________________________________________ ______________________________________________ Chair University of California, San Diego 2010 iii DEDICATION For Alivia, especially for beginning everything by mistakenly saying “I know you!” iv TABLE OF CONTENTS Signature Page....................................................................................................................iii Dedication...........................................................................................................................iv -
Social Implications of Fearing Terrorism. a Report on Australian Responses to the Images
Edith Cowan University Research Online "Exploding Media Myths : Misrepresenting Australia?" - Forum Conferences, Symposia and Campus Events 2009 Social Implications of Fearing Terrorism. A report on Australian responses to the images Anne Aly Edith Cowan University Lelia Green Edith Cowan University Follow this and additional works at: https://ro.ecu.edu.au/cexplodingmyth Part of the Communication Technology and New Media Commons This Report is posted at Research Online. https://ro.ecu.edu.au/cexplodingmyth/1 Social implications of fearing terrorism. A report on Australian responses to the images and discourses of terrorism and the other: Establishing a metric of fear An Australian Research Council Discovery Project Incorporating the recommendations of a community workshop held at UNSW in November 2008 Published by: Edith Cowan University 2 Bradford Street, Mt Lawley, Western Australia, 6050 Editors: Dr Anne Aly Professor Lelia Green Professor Mark Balnaves Copyright © 2009 Anne Aly and Lelia Green All rights reserved ISBN: 978-0-7298-0683-1 A website containing publications arising from this project can be accessed at: www.explodingmediamyths.org.au/publications.html This research was supported under Australian Research Council's Discovery Projects funding scheme (project DP0559707). The views expressed herein are those of the authors and are not necessarily those of the Australian Research Council. Contents FOREWARD EXECUTIVE SUMMARY ................................................................................................................