The Road to Serfdom
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Computers and Economic Democracy
Rev.econ.inst. vol.1 no.se Bogotá 2008 COMPUTERS AND ECONOMIC DEMOCRACY Computadores y democracia económica Allin Cottrell; Paul Cockshott Ph.D. in Economics, professor of Wake Forest University, Winston Salem, USA, [[email protected]]. Ph.D. in Computer Science, researcher of the Glasgow University, Glasgow, United Kingdom, [[email protected]].. The collapse of previously existing socialism was due to causes embedded in its economic mechanism, which are not inherent in all possible socialisms. The article argues that Marxist economic theory, in conjunction with information technology, provides the basis on which a viable socialist economic program can be advanced, and that the development of computer technology and the Internet makes economic planning possible. In addition, it argues that the socialist movement has never developed a correct constitutional program, and that modern technology opens up opportunities for democracy. Finally, it reviews the Austrian arguments against the possibility of socialist calculation in the light of modern computational capacity and the constraints of the Kyoto Protocol. [Keywords: socialist planning, economic calculation, environmental constraints; JEL: P21, P27, P28] El colapso del socialismo anteriormente existente obedeció a causas integradas en su mecanismo económico, que no son inherentes a todos los socialismos posibles. El artículo muestra que la teoría económica marxista, junto con la informática, proporciona el fundamento para adelantar un programa económico socialista viable y que el desarrollo de la informática y de Internet hace posible la planificación económica. Además, argumenta que el movimiento socialista nunca desarrolló un programa constitucional correcto y que la tecnología moderna abre nuevas oportunidades para la democracia. -
The Historic Failure of the Chicago School of Antitrust Mark Glick
Antitrust and Economic History: The Historic Failure of the Chicago School of Antitrust Mark Glick1 Working Paper No. 95 May 2019 ABSTRACT This paper presents an historical analysis of the antitrust laws. Its central contention is that the history of antitrust can only be understood in light of U.S. economic history and the succession of dominant economic policy regimes that punctuated that history. The antitrust laws and a subset of other related policies have historically focused on the negative consequences resulting from the rise, expansion, and dominance of big business. Antitrust specifically uses competition as its tool to address these problems. The paper traces the evolution of the emergence, growth and expansion of big business over six economic eras: the Gilded Age, the Progressive Era, the New Deal, the post-World War II Era, the 1970s, and the era of neoliberalism. It considers three policy regimes: laissez-faire during the Gilded Age and the Progressive Era, the New Deal, policy regime from the Depression through the early 1970s, and the neoliberal policy regime that dominates today and includes the Chicago School of antitrust. The principal conclusion of the paper is that the activist antitrust policies associated with the New Deal that existed from the late 1 Professor, Department of Economics, University of Utah. Email: [email protected]. I would like to thank members of the University of Utah Competition Group, Catherine Ruetschlin, Marshall Steinbaum, and Ted Tatos for their help and input. I also benefited from suggestions and guidance from Gérard Duménil’s 2019 seminar on economic history at the University of Utah. -
Snoring As a Fine Art and Twelve Other Essays
SNORING AS A FINE ART AND TWELVE OTHER ESSAYS By Albert Jay Nock RICHARD R. SMITH PUBLISHER, INC. Rindge, New Hampshire 1958 Copyright, © 1958 By- Francis Jay Nock Published By Richard R. Smith Publisher, Inc. Topside, West Rindge, N. H. Library of Congress Catalog Card Number: 57-10363 All rights reserved. No part of this book may be repro- duced in any form without permission of the publisher. Printed in U. S. A. by The Colonial Press Inc. These Essays were selected in memory of Albert Jay Nock by his friends of many years Ruth Robinson Ellen Winsor Rebecca Winsor Evans ACKNOWLEDGMENTS Permission to reprint the essays herein has been graciously granted by the original copyright owners specified below. Since publication, however, the ownership of the several copyrights has been trans- ferred to the author's son, Dr. Francis Jay Nock. The American Mercury: What the American Votes For. February 1933 The Atlantic Monthly: If Only— August 1937 Sunday in Brussels. September 1938 Snoring As a Fine Art. November 1938 The Purpose of Biography. March 1940 Epstean's Law. October 1940 Utopia in Pennsylvania: The Amish. April 1941 The Bookman: Bret Harte as a Parodist. May 1929 Harper's Magazine: Alas! Poor Yorick! June 1929 The King's Jester: Modern Style. March 1928 Scribner's Magazine: Henry George: Unorthodox American. November 1933 Life, Liberty, And— March 1935 The Seivanee Review: Advertising and Liberal Literature. Winter 1918 iii CONTENTS Page Introduction By Suzanne La Follette Snoring As A Fine Art And the Claims of General M. I. Kutusov As an Artist i Life, Liberty, And .. -
The Great Divergence the Princeton Economic History
THE GREAT DIVERGENCE THE PRINCETON ECONOMIC HISTORY OF THE WESTERN WORLD Joel Mokyr, Editor Growth in a Traditional Society: The French Countryside, 1450–1815, by Philip T. Hoffman The Vanishing Irish: Households, Migration, and the Rural Economy in Ireland, 1850–1914, by Timothy W. Guinnane Black ’47 and Beyond: The Great Irish Famine in History, Economy, and Memory, by Cormac k Gráda The Great Divergence: China, Europe, and the Making of the Modern World Economy, by Kenneth Pomeranz THE GREAT DIVERGENCE CHINA, EUROPE, AND THE MAKING OF THE MODERN WORLD ECONOMY Kenneth Pomeranz PRINCETON UNIVERSITY PRESS PRINCETON AND OXFORD COPYRIGHT 2000 BY PRINCETON UNIVERSITY PRESS PUBLISHED BY PRINCETON UNIVERSITY PRESS, 41 WILLIAM STREET, PRINCETON, NEW JERSEY 08540 IN THE UNITED KINGDOM: PRINCETON UNIVERSITY PRESS, 3 MARKET PLACE, WOODSTOCK, OXFORDSHIRE OX20 1SY ALL RIGHTS RESERVED LIBRARY OF CONGRESS CATALOGING-IN-PUBLICATION DATA POMERANZ, KENNETH THE GREAT DIVERGENCE : CHINA, EUROPE, AND THE MAKING OF THE MODERN WORLD ECONOMY / KENNETH POMERANZ. P. CM. — (THE PRINCETON ECONOMIC HISTORY OF THE WESTERN WORLD) INCLUDES BIBLIOGRAPHICAL REFERENCES AND INDEX. ISBN 0-691-00543-5 (CL : ALK. PAPER) 1. EUROPE—ECONOMIC CONDITIONS—18TH CENTURY. 2. EUROPE—ECONOMIC CONDITIONS—19TH CENTURY. 3. CHINA— ECONOMIC CONDITIONS—1644–1912. 4. ECONOMIC DEVELOPMENT—HISTORY. 5. COMPARATIVE ECONOMICS. I. TITLE. II. SERIES. HC240.P5965 2000 337—DC21 99-27681 THIS BOOK HAS BEEN COMPOSED IN TIMES ROMAN THE PAPER USED IN THIS PUBLICATION MEETS THE MINIMUM REQUIREMENTS OF ANSI/NISO Z39.48-1992 (R1997) (PERMANENCE OF PAPER) WWW.PUP.PRINCETON.EDU PRINTED IN THE UNITED STATES OF AMERICA 3579108642 Disclaimer: Some images in the original version of this book are not available for inclusion in the eBook. -
Rethinking the Historiography of United States Communism: Questioning American Radicalism*
chapter 7 Rethinking the Historiography of United States Communism: Questioning American Radicalism* We ask questions of radicalism in the United States. Many on the left and amongst historians researching and writing about its past are driven by high expectations and preconceived notions of what such radicalism should look like. Our queries reflect this: Why is there no socialism in America? Why are workers in the world’s most advanced capitalist nation not ‘class con- scious’? Why has no ‘third party’ of labouring people emerged to challenge the established political formations of money, privilege and business power? Such interrogation is by no means altogether wrong-headed, although some would prefer to jettison it entirely. Yet these and other related questions continue to exercise considerable interest, and periodically spark debate and efforts to reformulate and redefine analytic agendas for the study of American labour radicals, their diversity, ideas and practical activities.1 Socialism, syndicalism, anarchism and communism have been minority traditions in us life, just as they often are in other national cultures and political economies. The revolu- tionary left is, and always has been, a vanguard of minorities. But minorit- ies often make history, if seldom in ways that prove to be exactly as they pleased. Life in a minority is not, however, an isolated, or inevitably isolating, exper- ience. In the late 19th and early 20th centuries the us gave rise to a signific- ant left, rooted in what many felt was a transition from the -
Mere Libertarianism: Blending Hayek and Rothbard
Mere Libertarianism: Blending Hayek and Rothbard Daniel B. Klein Santa Clara University The continued progress of a social movement may depend on the movement’s being recognized as a movement. Being able to provide a clear, versatile, and durable definition of the movement or philosophy, quite apart from its justifications, may help to get it space and sympathy in public discourse. 1 Some of the most basic furniture of modern libertarianism comes from the great figures Friedrich Hayek and Murray Rothbard. Like their mentor Ludwig von Mises, Hayek and Rothbard favored sweeping reductions in the size and intrusiveness of government; both favored legal rules based principally on private property, consent, and contract. In view of the huge range of opinions about desirable reform, Hayek and Rothbard must be regarded as ideological siblings. Yet Hayek and Rothbard each developed his own ideas about liberty and his own vision for a libertarian movement. In as much as there are incompatibilities between Hayek and Rothbard, those seeking resolution must choose between them, search for a viable blending, or look to other alternatives. A blending appears to be both viable and desirable. In fact, libertarian thought and policy analysis in the United States appears to be inclined toward a blending of Hayek and Rothbard. At the center of any libertarianism are ideas about liberty. Differences between libertarianisms usually come down to differences between definitions of liberty or between claims made for liberty. Here, in exploring these matters, I work closely with the writings of Hayek and Rothbard. I realize that many excellent libertarian philosophers have weighed in on these matters and already said many of the things I say here. -
British Anti-Communist Propaganda and Cooperation with the United States, 1945-1951. Andrew Defty
British anti-communist propaganda and cooperation with the United States, 1945-1951. Andrew Defty European Studies Research Institute School of English, Sociology, Politics and Contemporary History University of Salford Submitted in fulfilment of the requirements of the Degree of Doctor of Philosophy, January 2002 British anti-communist propaganda and cooperation with the United States, 1945-1951 Contents Acknowledgements................................................................................................. .......ii Abbreviations.................................................................................................................iii Abstract..........................................................................................................................iv Introduction....................................................................................................................! Chapter 1 The Origins of Britain's anti-communist propaganda policy 1945-1947.............................28 Chapter 2 Launching the new propaganda policy, 1948.....................................................................74 Chapter 3 Building a concerted counter-offensive: cooperation with other powers, 1948-1950 ........123 Chapter 4 'Close and continuous liaison': British and American cooperation, 1950-1951 .................162 Conclusion .....................................................................................................................216 Notes Introduction .........................................................................................................226 -
What We Know and Do Not Know About the Natural Rate of Unemployment
Journal of Economic Perspectives—Volume 11, Number 1—Winter 1997—Pages 51–72 What We Know and Do Not Know About the Natural Rate of Unemployment Olivier Blanchard and Lawrence F. Katz lmost 30 years ago, Friedman (1968) and Phelps (1968) developed the concept of the "natural rate of unemployment." In what must be one of Athe longest sentences he ever wrote, Milton Friedman explained: "The natural rate of unemployment is the level which would be ground out by the Wal- rasian system of general equilibrium equations, provided that there is imbedded in them the actual structural characteristics of the labor and commodity markets, in- cluding market imperfections, stochastic variability in demands and supplies, the cost of gathering information about job vacancies and labor availabilities, the costs of mobility, and so on." Over the past three decades a large amount of research has attempted to formalize Friedman's long sentence and to identify, both theo- retically and empirically, the determinants of the natural rate. It is this body of work we assess in this paper. We reach two main conclusions. The first is that there has been considerable theoretical progress over the past 30 years. A framework has emerged, organized around two central ideas. The first is that the labor market is a market with a high level of traffic, with large flows of workers who have either lost their jobs or are looking for better ones. This by itself implies that there must be some "frictional unemployment." The second is that the nature of relations between firms and workers leads to wage setting that often differs substantially from competitive wage setting. -
1 Risk Rationing and Jump Utility Leslie J. Verteramo Chiu Graduate
Risk Rationing and Jump Utility Leslie J. Verteramo Chiu Graduate Researcher Dyson School of Applied Economics and Management Cornell University Selected Paper prepared for presentation at the Agricultural & Applied Economics Association’s 2013 AAEA & CAES Joint Annual Meeting, Washington, DC, August 4-6, 2013. Copyright 2013 by Leslie J. Verteramo Chiu. All rights reserved. Readers may make verbatim copies of this document for non-commercial purposes by any means, provided that this copyright notice appears on all such copies. 1 Introduction In recent years a renewed policy interest in rural credit for generally poor and underrepresented farmers has given rise to a more concentrated interest in factors affecting credit demand. An offshoot to this effort has culminated in the refinement of credit rationing to include not only the notion of price and quantity rationing but also risk rationing (Boucher, Carter and Guirkinger (2008)). Risk rationing describes an individual that having the asset wealth to qualify for a credit, voluntarily refrains from it for fear of losing his collateral. Unlike borrowers, risk rationing individuals believe that by taking a loan, a positive and sufficiently large probability of default may occur. The concept of risk rationing has been observed by many but not formally analyzed. An early sentiment of risk rationing is by Binswanger and Siller (1983) who state that “If the disutility of the loan is sufficiently high, small farmers may stop borrowing altogether, i.e. the credit market for small farmers may disappear because of lack of demand, despite the fact that small farmers may still have available collateral in the form of unencumbered land” (page 17), concluding that “It is important to realize that it is not an innate deficiency in the willingness of small farmers to take risks that hold them back” (page 19). -
Mill's "Very Simple Principle": Liberty, Utilitarianism And
MILL'S "VERY SIMPLE PRINCIPLE": LIBERTY, UTILITARIANISM AND SOCIALISM MICHAEL GRENFELL submitted for degree of Ph.D. London School of Economics and Political Science UMI Number: U048607 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 U048607 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 I H^S £ S F 6SI6 ABSTRACT OF THESIS MILL'S "VERY SIMPLE PRINCIPLE'*: LIBERTY. UTILITARIANISM AND SOCIALISM 1 The thesis aims to examine the political consequences of applying J.S. Mill's "very simple principle" of liberty in practice: whether the result would be free-market liberalism or socialism, and to what extent a society governed in accordance with the principle would be free. 2 Contrary to Mill's claims for the principle, it fails to provide a clear or coherent answer to this "practical question". This is largely because of three essential ambiguities in Mill's formulation of the principle, examined in turn in the three chapters of the thesis. 3 First, Mill is ambivalent about whether liberty is to be promoted for its intrinsic value, or because it is instrumental to the achievement of other objectives, principally the utilitarian objective of "general welfare". -
The Class Struggle in United States
The Class Struggle in United States By Pavlito Geshos (nom d’plume) The objective conditions for a working class upsurge in the United States are ‘over-ripe’. By this I mean that, over the last twenty years, ‘objectively’, the workers have suffered under oppressive working conditions, extreme loss of jobs, wage cuts and denial of job rights by their employers. There has also been a systematic and deliberate failure to protect workers rights by the government agencies that are designed to defend workers rights. This means that the legal rights to organize unions or to demand safe and healthy working-conditions, are not being protected by the United States government. Those union leaders that are allowed to hold power in the United States are, in general, class collaborationists. These union leaders hold their power by making deals with or giving concessions to the capitalist class and capitalist state. Under the class-collaborationist leadership of the American labor unions, American workers have been led down the path of ‘least resistance’. Workers have tried every other option except struggle on a massive scale. Each labor contract, over the last twenty years, has involved concessions to corporate management on some level (loss of wages, benefits, jobs or job rights). Those union leaders who do fight for their members are put under a news media slander attack and/or under legal attack by the capitalist state. Effective ‘class struggle’ union leaders have been driven out of power. An example of this is the great Teamsters strike against United Parcel Service, which shut down a major sector of the parcel delivery industry in 1999. -
Richard T. Ely and Woodrow Wilson at “The Hopkins”
SUBSCRIBE NOW AND RECEIVE CRISIS AND LEVIATHAN* FREE! “The Independent Review does not accept “The Independent Review is pronouncements of government officials nor the excellent.” conventional wisdom at face value.” —GARY BECKER, Noble Laureate —JOHN R. MACARTHUR, Publisher, Harper’s in Economic Sciences Subscribe to The Independent Review and receive a free book of your choice* such as the 25th Anniversary Edition of Crisis and Leviathan: Critical Episodes in the Growth of American Government, by Founding Editor Robert Higgs. This quarterly journal, guided by co-editors Christopher J. Coyne, and Michael C. Munger, and Robert M. Whaples offers leading-edge insights on today’s most critical issues in economics, healthcare, education, law, history, political science, philosophy, and sociology. Thought-provoking and educational, The Independent Review is blazing the way toward informed debate! Student? Educator? Journalist? Business or civic leader? Engaged citizen? This journal is for YOU! *Order today for more FREE book options Perfect for students or anyone on the go! The Independent Review is available on mobile devices or tablets: iOS devices, Amazon Kindle Fire, or Android through Magzter. INDEPENDENT INSTITUTE, 100 SWAN WAY, OAKLAND, CA 94621 • 800-927-8733 • [email protected] PROMO CODE IRA1703 The Shaping of a Future President’s Economic Thought Richard T. Ely and Woodrow Wilson at “The Hopkins” F CLIFFORD F. THIES AND GARY M. PECQUET homas Woodrow Wilson (1856–1924) was the first and is still the only president oftheUnitedStatestoholdanearneddoctoraldegree.HisPh.D.wasawarded T by the Johns Hopkins University (“The Hopkins”) in 1886. He was also the president of an institution of higher education and, unique among U.S.