The Many Sides of John Stuart M I L L ' S Political and Ethical Thought Howard Brian Cohen a Thesis Submitted I N Conformity
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Chinese Privatization: Between Plan and Market
CHINESE PRIVATIZATION: BETWEEN PLAN AND MARKET LAN CAO* I INTRODUCTION Since 1978, when China adopted its open-door policy and allowed its economy to be exposed to the international market, it has adhered to what Deng Xiaoping called "socialism with Chinese characteristics."1 As a result, it has produced an economy with one of the most rapid growth rates in the world by steadfastly embarking on a developmental strategy of gradual, market-oriented measures while simultaneously remaining nominally socialistic. As I discuss in this article, this strategy of reformthe mere adoption of a market economy while retaining a socialist ownership baseshould similarly be characterized as "privatization with Chinese characteristics,"2 even though it departs markedly from the more orthodox strategy most commonly associated with the term "privatization," at least as that term has been conventionally understood in the context of emerging market or transitional economies. The Russian experience of privatization, for example, represents the more dominant and more favored approach to privatizationcertainly from the point of view of the West and its advisersand is characterized by immediate privatization of the state sector, including the swift and unequivocal transfer of assets from the publicly owned state enterprises to private hands. On the other hand, "privatization with Chinese characteristics" emphasizes not the immediate privatization of the state sector but rather the retention of the state sector with the Copyright © 2001 by Lan Cao This article is also available at http://www.law.duke.edu/journals/63LCPCao. * Professor of Law, College of William and Mary Marshall-Wythe School of Law. At the time the article was written, the author was Professor of Law at Brooklyn Law School. -
Privatization: Issues in Local and State Service Provision by ELISABETH R
Center for Local, State, and Urban Policy Policy Report Number 1 • February 2004 UNIVERSITY OF MICHIGAN Privatization: Issues in Local and State Service Provision BY ELISABETH R. GERBER, CHRISTIANNE K. HALL, AND JAMES R. HINES JR. Summary hile many states and localities are turning to privatization as a way to provide services to their citizens, surprisingly little is known about these choices. Much of the debate over Wprivatization pays little attention to the rationales and consequences of private vs. public service provision. With an eye toward advancing understanding about privatization, the University of Michigan’s Offi ce of Tax Policy Research (OTPR) and Center for Local, State, and Urban Policy (CLOSUP) sponsored a series of studies on privatization. This empirically grounded research can provide policymakers with a sound basis for assessing whether and how privatization should be undertaken. This report begins by providing a historical background of privatization and a discussion of the nature and prevalence of privatization in the United States. Section II provides an overview of the empirical research on cost savings, quality, equity, employment, and political effects of privatization. The fi ndings from the papers commissioned by OTPR and CLOSUP are presented alongside fi ndings from other previously published research. Our review of the literature suggests the following conclusions about privatization: • Private providers may or may not be more effi cient than public providers. Whether privatization leads to greater cost savings depends largely on whether there is competition in service provision. • The quality of privatized services may or may not be higher than publicly provided services. Gov- ernments can play an important quality assurance role by monitoring and evaluating the delivery of privatized services. -
Speculation: Futures and Capitalism in India: Opening Statement
Laura Bear, Ritu Birla, Stine Simonsen Puri Speculation: futures and capitalism in India: opening statement Article (Accepted version) (Refereed) Original citation: Bear, Laura, Birla, Ritu and Puri, Stine Simonsen (2015) Speculation: futures and capitalism in India: opening statement. Comparative Studies of South Asia, Africa and the Middle East. pp. 1-7. ISSN 1089-201X (In Press) © 2015 Duke University Press This version available at: http://eprints.lse.ac.uk/61802/ Available in LSE Research Online: May 2015 LSE has developed LSE Research Online so that users may access research output of the School. Copyright © and Moral Rights for the papers on this site are retained by the individual authors and/or other copyright owners. Users may download and/or print one copy of any article(s) in LSE Research Online to facilitate their private study or for non-commercial research. You may not engage in further distribution of the material or use it for any profit-making activities or any commercial gain. You may freely distribute the URL (http://eprints.lse.ac.uk) of the LSE Research Online website. This document is the author’s final accepted version of the journal article. There may be differences between this version and the published version. You are advised to consult the publisher’s version if you wish to cite from it. Speculation: Futures and Capitalism in India Opening Statement Laura Bear, Ritu Birla, Stine Simonsen Puri Keywords: Speculation, Divination, Finance, Economic Governance, Uncertainty, Vernacular Capitalism Speculation: New Vistas on Capitalism and the Global This special section of Comparative Studies in South Asia, Africa and Middle East investigates speculation as a crucial conceptual tool for analyzing contemporary capitalism. -
The Restless Liberalism of Alexis De Tocqueville
FILOZOFIA ___________________________________________________________________________Roč. 72, 2017, č. 9 THE RESTLESS LIBERALISM OF ALEXIS DE TOCQUEVILLE JAKUB TLOLKA, London School of Economics and Political Science, London, UK TLOLKA, J.: The Restless Liberalism of Alexis de Tocqueville FILOZOFIA, 72, No. 9, 2017, pp. 736-747 This essay attempts to contextualise the purported novelty of Alexis de Tocqueville’s particular brand of liberalism. It regards the author not as an heir or precursor to any given political tradition, but rather as a compelled syncretist whose primary philosophical concern was the moral significance of the democratic age. It suggests that Tocqueville devised his ‘new political science’ with a keen view to the existential implications of modernity. In order to support that suggestion, the essay explores the genealogy of Tocqueville’s moral and political thought and draws a relation between his analysis of democracy and his personal experience of modernity. Keywords: A. de Tocqueville – Modernity – Liberalism – Inquiétude – Religion Introduction. Relatively few authors in the history of political thought have produced an intellectual legacy of such overarching resonance as Alexis de Tocqueville. Even fewer, perhaps, have so persistently eluded ordinary analytical and exegetical frameworks, presenting to each astute observer a face so nuanced as to preclude serious interpretive consensus. As writes Lakoff (Lakoff 1998), ‘disagreement over textual interpretation in the study of political thought is not uncommon’. However, ‘it usually arises around those who left writings of a patently divergent character’ (p. 437). When we thus consider the ‘extraordinarily coherent and consistent nature’ of Alexis de Tocqueville’s political philosophy, it appears somewhat odd that the academic consensus surrounding that author relates almost exclusively to the grandeur of his intellectual achievement (Lukacs 1959, 6). -
Speculation in the United States Government Securities Market
Authorized for public release by the FOMC Secretariat on 2/25/2020 Se t m e 1, 958 p e b r 1 1 To Members of the Federal Open Market Committee and Presidents of Federal Reserve Banks not presently serving on the Federal Open Market Committee From R. G. Rouse, Manager, System Open Market Account Attached for your information is a copy of a confidential memorandum we have prepared at this Bank on speculation in the United States Government securities market. Authorized for public release by the FOMC Secretariat on 2/25/2020 C O N F I D E N T I AL -- (F.R.) SPECULATION IN THE UNITED STATES GOVERNMENT SECURITIES MARKET 1957 - 1958* MARKET DEVELOPMENTS Starting late in 1957 and carrying through the middle of August 1958, the United States Government securities market was subjected to a vast amount of speculative buying and liquidation. This speculation was damaging to mar- ket confidence,to the Treasury's debt management operations, and to the Federal Reserve System's open market operations. The experience warrants close scrutiny by all interested parties with a view to developing means of preventing recurrences. The following history of market events is presented in some detail to show fully the significance and continuous effects of the situation as it unfolded. With the decline in business activity and the emergence of easier Federal Reserve credit and monetary policy in October and November 1957, most market elements expected lower interest rates and higher prices for United States Government securities. There was a rapid market adjustment to these expectations. -
Transforming Government Through Privatization
20th Anniversary Edition Annual Privatization Report 2006 Transforming Government Through Privatization Reflections from Pioneers in Government Reform Prime Minister Margaret Thatcher Governor Mitch Daniels Governor Mark Sanford Robert W. Poole, Jr. Reason Foundation Reason Foundation’s mission is to advance a free society by developing, apply- ing, and promoting libertarian principles, including individual liberty, free markets, and the rule of law. We use journalism and public policy research to influence the frameworks and actions of policymakers, journalists, and opin- ion leaders. Reason Foundation’s nonpartisan public policy research promotes choice, competition, and a dynamic market economy as the foundation for human dignity and prog- ress. Reason produces rigorous, peer-reviewed research and directly engages the policy pro- cess, seeking strategies that emphasize cooperation, flexibility, local knowledge, and results. Through practical and innovative approaches to complex problems, Reason seeks to change the way people think about issues, and promote policies that allow and encourage individuals and voluntary institutions to flourish. Reason Foundation is a tax-exempt research and education organization as defined under IRS code 501(c)(3). Reason Foundation is supported by voluntary contributions from individuals, foundations, and corporations. The views expressed in these essays are those of the individual author, not necessarily those of Reason Foundation or its trustees. Copyright © 2006 Reason Foundation. Photos used in this publication are copyright © 1996 Photodisc, Inc. All rights reserved. Authors Editor the Association of Private Correctional & Treatment Organizations • Leonard C. Gilroy • Chris Edwards is the director of Tax Principal Authors Policy Studies at the Cato Institute • Ted Balaker • William D. Eggers is the global director • Shikha Dalmia for Deloitte Research—Public Sector • Leonard C. -
An Introduction to the Digital Commons: from Common-Pool Resources to Community Governance Melanie Dulong De Rosnay, Hervé Le Crosnier
An Introduction to the Digital Commons: From Common-Pool Resources to Community Governance Melanie Dulong de Rosnay, Hervé Le Crosnier To cite this version: Melanie Dulong de Rosnay, Hervé Le Crosnier. An Introduction to the Digital Commons: From Common-Pool Resources to Community Governance. Building Institutions for Sustain- able Scientific, Cultural and genetic Resources Commons, Sep 2012, Louvain-la-Neuve, Belgium. http://biogov.uclouvain.be/iasc/index.php?page=fullpapers. halshs-00736920 HAL Id: halshs-00736920 https://halshs.archives-ouvertes.fr/halshs-00736920 Submitted on 30 Sep 2012 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. An Introduction to the Digital Commons: From Common-Pool Resources to Community Governance Mélanie Dulong de Rosnay, Institute for Communication Sciences of CNRS, Paris Hervé Le Crosnier, University of Caen and Institute for Communication Sciences of CNRS, Paris Abstract This article proposes an introductory analysis of digital resources and commons-based peer production online communities with the framework of the common pool-resources. Trying to go beyond the classic economy dichotomy between physical resources scarcity and informational resources reproducibility, the approach allows to focus not only on the nature of the resources, but mostly on the governance by the communities to produce resources which remain available for all to share and build upon, while avoiding risks of pollution, degradation, underuse or enclosure by the market. -
Speculative Separation for Privatization and Reductions
Speculative Separation for Privatization and Reductions Nick P. Johnson Hanjun Kim Prakash Prabhu Ayal Zaksy David I. August Princeton University, Princeton, NJ yIntel Corporation, Haifa, Israel fnpjohnso, hanjunk, pprabhu, [email protected] [email protected] Abstract Memory Layout Static Speculative Automatic parallelization is a promising strategy to improve appli- Speculative LRPD [22] R−LRPD [7] cation performance in the multicore era. However, common pro- Privateer (this work) gramming practices such as the reuse of data structures introduce Dynamic PD [21] artificial constraints that obstruct automatic parallelization. Privati- Polaris [29] ASSA [14] zation relieves these constraints by replicating data structures, thus Static Array Expansion [10] enabling scalable parallelization. Prior privatization schemes are Criterion DSA [31] RSSA [23] limited to arrays and scalar variables because they are sensitive to Privatization Manual Paralax [32] STMs [8, 18] the layout of dynamic data structures. This work presents Privateer, the first fully automatic privatization system to handle dynamic and Figure 1: Privatization Criterion and Memory Layout. recursive data structures, even in languages with unrestricted point- ers. To reduce sensitivity to memory layout, Privateer speculatively separates memory objects. Privateer’s lightweight runtime system contention and relaxes the program dependence structure by repli- validates speculative separation and speculative privatization to en- cating the reused storage locations, producing multiple copies in sure correct parallel execution. Privateer enables automatic paral- memory that support independent, concurrent access. Similarly, re- lelization of general-purpose C/C++ applications, yielding a ge- duction techniques relax ordering constraints on associative, com- omean whole-program speedup of 11.4× over best sequential ex- mutative operators by replacing (or expanding) storage locations. -
Privatization in Developing Countries: What Are the Lessons of Recent Experience?
Saul Estrin and Adeline Pelletier Privatization in developing countries: what are the lessons of recent experience? Article (Accepted version) (Refereed) Original citation: Estrin, Saul and Pelletier, Adeline (2018) Privatization in developing countries: what are the lessons of recent experience? World Bank Research Observer, 33 (1). pp. 65-102. ISSN 0257-3032 DOI: 10.1093/wbro/lkx007 © 2018 The Authors This version available at: http://eprints.lse.ac.uk/87348/ Available in LSE Research Online: March 2018 LSE has developed LSE Research Online so that users may access research output of the School. Copyright © and Moral Rights for the papers on this site are retained by the individual authors and/or other copyright owners. Users may download and/or print one copy of any article(s) in LSE Research Online to facilitate their private study or for non-commercial research. You may not engage in further distribution of the material or use it for any profit-making activities or any commercial gain. You may freely distribute the URL (http://eprints.lse.ac.uk) of the LSE Research Online website. This document is the author’s final accepted version of the journal article. There may be differences between this version and the published version. You are advised to consult the publisher’s version if you wish to cite from it. Privatisation in developing countries: What are the lessons of recent experience? Saul Estrin ● Adeline Pelletier This paper reviews the recent empirical evidence on privatisation in developing countries, with particular emphasis on new areas of research such as the distributional impacts of privatisation. -
Monetary Theory
MONETARY THEORY Henry H. Villard I. I ntroduction In t h e social sciences our accumulated knowledge is so small and the unexplored areas so vast that of necessity we measure progress by the understanding we obtain of particular and pressing problems. Thus Adam Smith did not write primarily as a scholar but rather as a social surgeon to remove from the body politic the surviving malignant remnant of Mercantilism, while the emphasis of Ricardo and Mill on diminishing returns and the rent of land directly reflected their interest in the ulti mately successful campaign of the rising business classes to end the im pediment to further industrialization represented by the Com Laws. In the same way recent monetary theory direcdy reflects the unprece dented depression which rocked the industrialized world during the nine teen-thirties; in the United States, perhaps worse hit than any other country, the increase in productive capital, which had averaged 6 per cent a year for the first three decades of the century, over the ’thirties as a whole was negligible in amount. As a result the center of interest has in general shifted from the factors determining the quantity of money and its effect on the general level of prices to those determining the level of output and employment. In addition, the purely monetary devices for control, on which great store had been laid, were found to be broadly ineffective, taken by themselves, in bringing about recovery from the Great Depression. And finally, as a result of the way in which the war was financed, it seems quite likely that it will prove impossible to use such devices for the effective control of a future boom. -
Speculative Business Loss from Trading in Shares Cannot Be Set-Off Against Profits from the Business of Futures and Options Prio
22 May 2019 Speculative business loss from trading in shares cannot be set-off against profits from the business of futures and options prior to amendment in Section 73 of the Act – Supreme Court Recently, the Supreme Court in the case of Snowtex activities pertaining to futures and options Investment Ltd1 (the taxpayer) dealt with the issue of (derivatives) could not be treated as set-off of loss arising from trading in shares speculative transactions. The AO held that the loss (speculative business loss) against profits from the arising from share trading was speculation loss, and business of futures and options relating to the period such speculation loss cannot be set off against the prior to the amendment2 in Section 73 of the Income- profits from derivative business. The Commissioner tax Act, 1961 (the Act). The Supreme Court held that of Income-tax (Appeals) [CIT(A)] upheld the order of the loss which occurred to the taxpayer as a result of the AO. its activity of trading in shares (a loss arising from the business of speculation) was not capable of being The Tribunal held that the claim of the taxpayer for set off against the profits which it had earned against setting off the loss from share trading should be the business of futures and options since the latter allowed against the profits from transactions in did not constitute profits and gains of a speculative futures and options since the character of the business. The Supreme Court held that the activities was similar. The Tribunal held that the amendment introduced [with effect from 1 April 2015] taxpayer which was in the business of share trading in the Explanation to Section 73 of the Act, with had treated the entire activity of the purchase and respect to trading in shares, could not be regarded sale of shares which comprised both of delivery as clarificatory or retrospective in nature. -
The Crisis of Representation: the Limits of Liberal Democracy in the Global Era Alessandro Bonanno Department of Sociology, Sam Houston State University, P.O
Journal of Rural Studies 16 (2000) 305}323 The crisis of representation: the limits of liberal democracy in the global era Alessandro Bonanno Department of Sociology, Sam Houston State University, P.O. Box 2446, Huntsville, TX 77341-2246, USA Abstract In liberal thought, democracy is guaranteed by the unity of community and government. The community of citizens elects its government according to political preferences. The government rules over the community with powers which are limited by unalienable human, civil, and political rights. These assumptions have characterized Classical Liberalism, Revisionist Liberalism and contemporary Neo-liberal theories. However, the assumed unity of community and government becomes problematic in Global Post-Fordism. Recent research on the globalization of the economy and society has underscored the increasing inability of nation-states to exercise power over their communities which, in turn, limits the ability of communities to express their will at the nation-state level. The current phase of capitalism is characterized by socio-economic relations which transcend the jurisdictions of nation-states and local spaces. This paper addresses the issue of the fracture of the unity of community and government by introducing feature characteristics of Classical Liberalism, Revisionist Liberalism and Neo-liberalism. Moreover, it analyzes the contribution of the theory of Re#exive Modernization which represents a novel attempt to rethink democracy within the liberal tradition. The paper concludes that the inability of governments to control economic and non-economic environments creates a crisis of representation which implies serious limits to liberal democracy. This situation is particularly important for rural regions as their socio-economic development, and programs for its democratization have been historically based on the intervention of agencies of and control by the nation-state.