Carl Raschke
- Published in print:
- 2015
- Published Online:
- May 2016
- ISBN:
- 9780231173841
- eISBN:
- 9780231539623
- Item type:
- book
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231173841.001.0001
- Subject:
- Religion, Philosophy of Religion
For theorists in search of a political theology that is more responsive to the challenges now facing Western democracies, this book tenders a new political economy anchored in a theory of value. The ...
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For theorists in search of a political theology that is more responsive to the challenges now facing Western democracies, this book tenders a new political economy anchored in a theory of value. The political theology of the future, Carl Raschke argues, must draw on a powerful, hidden impetus—the “force of God”—to frame a new value economy. It must also embrace a radical, “faith-based” revolutionary style of theory that reconceives the power of the “theological” in political thought and action. Raschke ties democracy’s retreat to the West’s failure to confront its decadence and mobilize its vast spiritual resources. Worsening debt, rising unemployment, and gross income inequality have led to a crisis in political representation and values that twentieth-century theorists never anticipated. Drawing on the thought of Hegel and Nietzsche as well as recent work by Michel Foucault, Jacques Derrida, Jean-Joseph Goux, Giorgio Agamben, and Alain Badiou, among others, Raschke recasts political theology for a new generation. He proposes a bold, uncompromising critical theory that acknowledges the enduring significance of Marx without his materialism and builds a vital, more spiritually grounded relationship between politics and the religious imaginary.Less
For theorists in search of a political theology that is more responsive to the challenges now facing Western democracies, this book tenders a new political economy anchored in a theory of value. The political theology of the future, Carl Raschke argues, must draw on a powerful, hidden impetus—the “force of God”—to frame a new value economy. It must also embrace a radical, “faith-based” revolutionary style of theory that reconceives the power of the “theological” in political thought and action. Raschke ties democracy’s retreat to the West’s failure to confront its decadence and mobilize its vast spiritual resources. Worsening debt, rising unemployment, and gross income inequality have led to a crisis in political representation and values that twentieth-century theorists never anticipated. Drawing on the thought of Hegel and Nietzsche as well as recent work by Michel Foucault, Jacques Derrida, Jean-Joseph Goux, Giorgio Agamben, and Alain Badiou, among others, Raschke recasts political theology for a new generation. He proposes a bold, uncompromising critical theory that acknowledges the enduring significance of Marx without his materialism and builds a vital, more spiritually grounded relationship between politics and the religious imaginary.
Timothy Besley
- Published in print:
- 2005
- Published Online:
- January 2012
- ISBN:
- 9780197263518
- eISBN:
- 9780191734021
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197263518.003.0013
- Subject:
- History, Cultural History
This lecture discusses important issues that arise in the policy sphere. It is primarily concerned with extending the competence of economists to analyse issues that require some facility with ...
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This lecture discusses important issues that arise in the policy sphere. It is primarily concerned with extending the competence of economists to analyse issues that require some facility with economic and political decision-making. The lecture serves as a highly selective and personal view of the motivation behind the field and some of the key themes in the literature. It shows the value in focused research in asking a specific question and of using appropriate data. It also determines that the New Political Economy rises to specific challenges, is not about economic imperialism, and rarely discusses grand issues of states versus markets and democracy versus non-democracy.Less
This lecture discusses important issues that arise in the policy sphere. It is primarily concerned with extending the competence of economists to analyse issues that require some facility with economic and political decision-making. The lecture serves as a highly selective and personal view of the motivation behind the field and some of the key themes in the literature. It shows the value in focused research in asking a specific question and of using appropriate data. It also determines that the New Political Economy rises to specific challenges, is not about economic imperialism, and rarely discusses grand issues of states versus markets and democracy versus non-democracy.
Ha-Joon Chang and Robert Rowthorn
- Published in print:
- 1995
- Published Online:
- October 2011
- ISBN:
- 9780198289845
- eISBN:
- 9780191684777
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198289845.003.0002
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter deals with the role that the state may assume. According to the authors, there are four state interventions in the market: New Political Economy, welfare economics, institutional ...
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This chapter deals with the role that the state may assume. According to the authors, there are four state interventions in the market: New Political Economy, welfare economics, institutional economics and Austrian economics. The state has its different roles according to these views which varies from full state intervention up to a state-intervention-free market. The authors suggest that the state must possess all the strength of the argument offered by these views. To sum it all, the state must be a good and ultimate entrepreneur and conflict manager at the same time. Too much intervention on the part of the state may harm the market while on the other, too much leniency on the side of the state may make the state too weak or too corrupt.Less
This chapter deals with the role that the state may assume. According to the authors, there are four state interventions in the market: New Political Economy, welfare economics, institutional economics and Austrian economics. The state has its different roles according to these views which varies from full state intervention up to a state-intervention-free market. The authors suggest that the state must possess all the strength of the argument offered by these views. To sum it all, the state must be a good and ultimate entrepreneur and conflict manager at the same time. Too much intervention on the part of the state may harm the market while on the other, too much leniency on the side of the state may make the state too weak or too corrupt.
Gareth Stedman Jones
- Published in print:
- 2007
- Published Online:
- January 2012
- ISBN:
- 9780197264034
- eISBN:
- 9780191734601
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197264034.003.0006
- Subject:
- History, Historiography
This chapter examines the aim of Marx's theory and whether he succeeded in establishing what he was set out to prove. In 1883, at the graveside of Marx, Engels wrote of Marx's achievement as the ...
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This chapter examines the aim of Marx's theory and whether he succeeded in establishing what he was set out to prove. In 1883, at the graveside of Marx, Engels wrote of Marx's achievement as the discovery of ‘laws’ of history. Engel's depiction of Marx has been followed by Marx's disciples and opponents. After the First World War, Marx's writings were subjected to distorted views and interpretations that turned Marx into a remote and opaque figure. In the 1950s, attempts to capture the true thoughts of Marx were made. These attempts disclosed his difficulty in applying a socially determinist approach to the explanation of the republicanism and the constitutional character of the struggle between the elected president and the elected assembly. His basic assumption of the ‘forces of production’ as a means for the proletariat to advance and the bourgeoisie to rescind failed to interpret the transition from Second Empire to Third Republic. Forced to abandon this evolutionary scenario of capitalist development, Marx developed his Critique of Political Economy, wherein his prime objective was not to construct a theory of history, but to discover the path of man to communism.Less
This chapter examines the aim of Marx's theory and whether he succeeded in establishing what he was set out to prove. In 1883, at the graveside of Marx, Engels wrote of Marx's achievement as the discovery of ‘laws’ of history. Engel's depiction of Marx has been followed by Marx's disciples and opponents. After the First World War, Marx's writings were subjected to distorted views and interpretations that turned Marx into a remote and opaque figure. In the 1950s, attempts to capture the true thoughts of Marx were made. These attempts disclosed his difficulty in applying a socially determinist approach to the explanation of the republicanism and the constitutional character of the struggle between the elected president and the elected assembly. His basic assumption of the ‘forces of production’ as a means for the proletariat to advance and the bourgeoisie to rescind failed to interpret the transition from Second Empire to Third Republic. Forced to abandon this evolutionary scenario of capitalist development, Marx developed his Critique of Political Economy, wherein his prime objective was not to construct a theory of history, but to discover the path of man to communism.
Roland Vogt (ed.)
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9789888083879
- eISBN:
- 9789882209077
- Item type:
- chapter
- Publisher:
- Hong Kong University Press
- DOI:
- 10.5790/hongkong/9789888083879.003.0006
- Subject:
- History, Asian History
Despite the growing quantity of linkages between both sides, EU-China ties remain derivate of relations with the US. The EU and China are not each other's foreign policy priorities. A close analysis ...
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Despite the growing quantity of linkages between both sides, EU-China ties remain derivate of relations with the US. The EU and China are not each other's foreign policy priorities. A close analysis of five key 'lenses' of understanding Sino-European affairs reveals the extent to which US interests and alliance commitments mediate, shape, and influence the relationship between Europe and China. The controversy surrounding the attempts to lift the EU's arms embargo on China is a case in point. China's ability to exploit differences among EU member states has been reduced not only by better coordination among the EU but also by the formation of EU-US transatlantic dialogues on the rise of China.Less
Despite the growing quantity of linkages between both sides, EU-China ties remain derivate of relations with the US. The EU and China are not each other's foreign policy priorities. A close analysis of five key 'lenses' of understanding Sino-European affairs reveals the extent to which US interests and alliance commitments mediate, shape, and influence the relationship between Europe and China. The controversy surrounding the attempts to lift the EU's arms embargo on China is a case in point. China's ability to exploit differences among EU member states has been reduced not only by better coordination among the EU but also by the formation of EU-US transatlantic dialogues on the rise of China.
Margaret Schabas
- Published in print:
- 2006
- Published Online:
- February 2013
- ISBN:
- 9780226735696
- eISBN:
- 9780226735719
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226735719.003.0007
- Subject:
- Economics and Finance, Economic History
This chapter examines John Stuart Mill's conception of nature and its implications for his political economy. It explains that in his 1836 “On the Definition of Political Economy” Mills addressed the ...
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This chapter examines John Stuart Mill's conception of nature and its implications for his political economy. It explains that in his 1836 “On the Definition of Political Economy” Mills addressed the problem of demarcating political economy from the physical sciences and suggested that the study of subjects such as physiology, chemistry, mechanics, and geology is important to the study of economic production. This chapter also describes how Mill aligned his concept of economic production with the concept of physical nature in his Principles of Political Economy.Less
This chapter examines John Stuart Mill's conception of nature and its implications for his political economy. It explains that in his 1836 “On the Definition of Political Economy” Mills addressed the problem of demarcating political economy from the physical sciences and suggested that the study of subjects such as physiology, chemistry, mechanics, and geology is important to the study of economic production. This chapter also describes how Mill aligned his concept of economic production with the concept of physical nature in his Principles of Political Economy.
Friedrich Schneider, Andrea Kollmann, and Johanne Reichl (eds)
- Published in print:
- 2015
- Published Online:
- January 2016
- ISBN:
- 9780262029247
- eISBN:
- 9780262329736
- Item type:
- book
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262029247.001.0001
- Subject:
- Political Science, Environmental Politics
Economists have long argued that market-based instruments such as, environmental taxes, and emission trading systems, are the superior way to offset the negative externalities of any kind of economic ...
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Economists have long argued that market-based instruments such as, environmental taxes, and emission trading systems, are the superior way to offset the negative externalities of any kind of economic activities. Yet, whether the effects of using these instruments are sufficient, whether they are actually used efficiently, and especially which factors influence their effectiveness is subject to a lively debate. It is the ultimate task of research to identify existing barriers among economic agents so as to gain valuable insight into how to overcome them. There still is much work to be done when it comes to evaluating the effectiveness of policy instruments with regard to the achievement of environmental targets. Assessments of environmental policies and their effects on economic welfare indicators are necessary, as are further analyses of institutional and political attitudes towards existing and future environmental policy. This book makes a valuable contribution by assembling papers and opinions which all target the questions raised above about how environmental politics can be further enhanced. They analyse and discuss possible improvements to its design to further increase its efficiency and therefore make a valuable contribution to one of the most pressing global issues of our time.Less
Economists have long argued that market-based instruments such as, environmental taxes, and emission trading systems, are the superior way to offset the negative externalities of any kind of economic activities. Yet, whether the effects of using these instruments are sufficient, whether they are actually used efficiently, and especially which factors influence their effectiveness is subject to a lively debate. It is the ultimate task of research to identify existing barriers among economic agents so as to gain valuable insight into how to overcome them. There still is much work to be done when it comes to evaluating the effectiveness of policy instruments with regard to the achievement of environmental targets. Assessments of environmental policies and their effects on economic welfare indicators are necessary, as are further analyses of institutional and political attitudes towards existing and future environmental policy. This book makes a valuable contribution by assembling papers and opinions which all target the questions raised above about how environmental politics can be further enhanced. They analyse and discuss possible improvements to its design to further increase its efficiency and therefore make a valuable contribution to one of the most pressing global issues of our time.
Alain Bresson
- Published in print:
- 2018
- Published Online:
- January 2019
- ISBN:
- 9780691183411
- eISBN:
- 9781400852451
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691183411.003.0001
- Subject:
- History, Ancient History / Archaeology
This chapter describes the conceptual framework used by the book to study the economy of ancient Greece. It begins with a discussion of the debate between “primitivists,” represented by Karl Bücher, ...
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This chapter describes the conceptual framework used by the book to study the economy of ancient Greece. It begins with a discussion of the debate between “primitivists,” represented by Karl Bücher, and “modernists,” represented by Eduard Meyer, over the nature of the ancient Greek economy. It considers Bücher's adherence to the so-called German Historical School of Political Economy and goes on to examine the views of Moses I. Finley and Max Weber regarding the ancient economy, Karl Polanyi's use of institutionalism as an approach to the study of the ancient economy, and the main assumptions of New Institutional Economics (NIE) with regard to the genesis and evolution of institutions. The chapter also analyzes the transaction costs theory and concludes with an assessment of criticisms against the classical economists' economic agent, the homo economicus, and the influence of constrained choices and limited rationality on economic performance.Less
This chapter describes the conceptual framework used by the book to study the economy of ancient Greece. It begins with a discussion of the debate between “primitivists,” represented by Karl Bücher, and “modernists,” represented by Eduard Meyer, over the nature of the ancient Greek economy. It considers Bücher's adherence to the so-called German Historical School of Political Economy and goes on to examine the views of Moses I. Finley and Max Weber regarding the ancient economy, Karl Polanyi's use of institutionalism as an approach to the study of the ancient economy, and the main assumptions of New Institutional Economics (NIE) with regard to the genesis and evolution of institutions. The chapter also analyzes the transaction costs theory and concludes with an assessment of criticisms against the classical economists' economic agent, the homo economicus, and the influence of constrained choices and limited rationality on economic performance.
Dotan Leshem
- Published in print:
- 2016
- Published Online:
- January 2017
- ISBN:
- 9780231177764
- eISBN:
- 9780231541749
- Item type:
- chapter
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231177764.003.0004
- Subject:
- History, History of Ideas
The fourth chapter (Economy and Politics) re-introduces the much-ignored chapter of Greek Patristic political theory into the history of political thought and political theology. It answers ...
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The fourth chapter (Economy and Politics) re-introduces the much-ignored chapter of Greek Patristic political theory into the history of political thought and political theology. It answers Foucault’s enigma concerning the relation between sovereign and ecclesiastical power formations in the Christian East and backdates the subjection of politics in the service of the economy to the turn of the fourth century C.E.Less
The fourth chapter (Economy and Politics) re-introduces the much-ignored chapter of Greek Patristic political theory into the history of political thought and political theology. It answers Foucault’s enigma concerning the relation between sovereign and ecclesiastical power formations in the Christian East and backdates the subjection of politics in the service of the economy to the turn of the fourth century C.E.
Gerard Strange and Owen Worth (eds)
- Published in print:
- 2012
- Published Online:
- May 2013
- ISBN:
- 9780719085734
- eISBN:
- 9781781704615
- Item type:
- book
- Publisher:
- Manchester University Press
- DOI:
- 10.7228/manchester/9780719085734.001.0001
- Subject:
- Political Science, European Union
Written against a background of global economic and political turmoil, including crisis and uncertainty surrounding the European Union, European Regionalism and the Left offers new critical insights ...
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Written against a background of global economic and political turmoil, including crisis and uncertainty surrounding the European Union, European Regionalism and the Left offers new critical insights into a range of fundamental problems facing the project of European integration. Issues covered include: the limits and possibilities of European Monetary Union; the impact of European regionalism on the political organisations of the European left; European regionalism and the crisis of social democracy; Russia and the limits to EU regionalism; and the contradictions of Eurocentric politics in an age of globalisation. The book brings together contributions from international scholars drawing on a rich diversity of critical approaches to international political economy, European integration studies, European politics and social theory. Unlike many earlier critical studies of this subject, European Regionalism and the Left consciously eschews any specific radical theoretical narrative or research programme in favour of an open-ended critical engagement with the political economy of contemporary Europe. As such it attempts to open up left analyses of Europe to broader traditions of critical inquiry.Less
Written against a background of global economic and political turmoil, including crisis and uncertainty surrounding the European Union, European Regionalism and the Left offers new critical insights into a range of fundamental problems facing the project of European integration. Issues covered include: the limits and possibilities of European Monetary Union; the impact of European regionalism on the political organisations of the European left; European regionalism and the crisis of social democracy; Russia and the limits to EU regionalism; and the contradictions of Eurocentric politics in an age of globalisation. The book brings together contributions from international scholars drawing on a rich diversity of critical approaches to international political economy, European integration studies, European politics and social theory. Unlike many earlier critical studies of this subject, European Regionalism and the Left consciously eschews any specific radical theoretical narrative or research programme in favour of an open-ended critical engagement with the political economy of contemporary Europe. As such it attempts to open up left analyses of Europe to broader traditions of critical inquiry.
Besnik Pula
- Published in print:
- 2018
- Published Online:
- January 2019
- ISBN:
- 9781503605138
- eISBN:
- 9781503605985
- Item type:
- book
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9781503605138.001.0001
- Subject:
- Political Science, Political Economy
Today, by a number of measures, the ex-socialist economies of Central and Eastern Europe are among the most globalized in the world. This book argues that the origins of Central and Eastern Europe’s ...
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Today, by a number of measures, the ex-socialist economies of Central and Eastern Europe are among the most globalized in the world. This book argues that the origins of Central and Eastern Europe’s heavily transnationalized economies should be sought in their socialist past and the efforts of reformers in the 1970s and 1980s to expand ties between domestic industry and transnational corporations (TNCs). The book’s comparative-historical analysis examines the trajectories of six socialist and postsocialist economies, Bulgaria, Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia. The second part of the book focuses on the region’s deepening specialization in the 2000s as a TNC-dominated transnational manufacturing hub. It identifies three international market roles that the region’s state came to occupy in the transformation: assembly platform, intermediate producer, and combined. It explains divergence within the region through the comparative analysis of the politics of institutional adjustment after socialism.Less
Today, by a number of measures, the ex-socialist economies of Central and Eastern Europe are among the most globalized in the world. This book argues that the origins of Central and Eastern Europe’s heavily transnationalized economies should be sought in their socialist past and the efforts of reformers in the 1970s and 1980s to expand ties between domestic industry and transnational corporations (TNCs). The book’s comparative-historical analysis examines the trajectories of six socialist and postsocialist economies, Bulgaria, Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia. The second part of the book focuses on the region’s deepening specialization in the 2000s as a TNC-dominated transnational manufacturing hub. It identifies three international market roles that the region’s state came to occupy in the transformation: assembly platform, intermediate producer, and combined. It explains divergence within the region through the comparative analysis of the politics of institutional adjustment after socialism.
Timothy Larsen
- Published in print:
- 2018
- Published Online:
- July 2018
- ISBN:
- 9780198753155
- eISBN:
- 9780191814815
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198753155.003.0007
- Subject:
- Religion, History of Christianity, Philosophy of Religion
This chapter covers the two books that made Mill’s wider reputation as an intellectual: A System of Logic (1843) and Principles of Political Economy (1848). It explores what they reveal about how ...
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This chapter covers the two books that made Mill’s wider reputation as an intellectual: A System of Logic (1843) and Principles of Political Economy (1848). It explores what they reveal about how Mill’s mind worked, as well as the ways that they shed a sidelight on his views on religion. A System of Logic, in particular, is surprisingly permeated with religious themes. Not even counting pronouns, Mill refers to God directly in this textbook on logic, ratiocinative and inductive, over eighty times. Attention is paid to religious reactions to these works—as well as to Mill’s reactions to these reactions. Through these two highly successful, major works, Mill first gained a place that he would never lose as an eminent Victorian.Less
This chapter covers the two books that made Mill’s wider reputation as an intellectual: A System of Logic (1843) and Principles of Political Economy (1848). It explores what they reveal about how Mill’s mind worked, as well as the ways that they shed a sidelight on his views on religion. A System of Logic, in particular, is surprisingly permeated with religious themes. Not even counting pronouns, Mill refers to God directly in this textbook on logic, ratiocinative and inductive, over eighty times. Attention is paid to religious reactions to these works—as well as to Mill’s reactions to these reactions. Through these two highly successful, major works, Mill first gained a place that he would never lose as an eminent Victorian.
Iain Docherty, Jon Shaw, and David Waite
- Published in print:
- 2019
- Published Online:
- May 2020
- ISBN:
- 9781447329558
- eISBN:
- 9781447329602
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781447329558.003.0002
- Subject:
- Sociology, Population and Demography
In the chapter we focus on why we spend money on some things and not on others, and why this matters. Our point is that transport investment can create both winners and losers, and it is important to ...
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In the chapter we focus on why we spend money on some things and not on others, and why this matters. Our point is that transport investment can create both winners and losers, and it is important to be open and honest about this, and fully aware of the consequences, before committing public resources. Failing to do so runs the risk of perpetuating existing inequalities in a policy environment where a) there is already plenty of inequality and b) public resources for investment are scarce.Less
In the chapter we focus on why we spend money on some things and not on others, and why this matters. Our point is that transport investment can create both winners and losers, and it is important to be open and honest about this, and fully aware of the consequences, before committing public resources. Failing to do so runs the risk of perpetuating existing inequalities in a policy environment where a) there is already plenty of inequality and b) public resources for investment are scarce.
Piers H. G. Stephens
- Published in print:
- 2015
- Published Online:
- January 2017
- ISBN:
- 9780262028059
- eISBN:
- 9780262325264
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262028059.003.0011
- Subject:
- Environmental Science, Environmental Studies
Piers H. G. Stephens discusses John Stuart Mill and, by distinguishing Mill’s brand of individualism from possessive individualism, concludes that liberal individualism is not necessarily opposed to ...
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Piers H. G. Stephens discusses John Stuart Mill and, by distinguishing Mill’s brand of individualism from possessive individualism, concludes that liberal individualism is not necessarily opposed to environmentalism. Challenging a common criticism that Mill’s essay “Nature” sanctions human conquest of nature, Stephens argues that the essay actually critiques of the use of nature to support conservative, religiously based ethics. Stephens also highlights Mill’s embrace of a stationary-state economy, his willingness to accept regulation of the economy, and his support for small-scale agriculture and land preservation. More fundamentally, Mill, who had affinities with Romanticism, rejects the self-interested, economistic individualism espoused by Jeremy Bentham and others and instead posits an individualism, or individuality, that is relational, complex, and oriented toward natural spiritedness. Mill also connects appreciation of nonhuman nature to the development of character. Millian individualism thus suggests a strong affinity between freedom and diversity on the one hand and ecological consciousness on the other.Less
Piers H. G. Stephens discusses John Stuart Mill and, by distinguishing Mill’s brand of individualism from possessive individualism, concludes that liberal individualism is not necessarily opposed to environmentalism. Challenging a common criticism that Mill’s essay “Nature” sanctions human conquest of nature, Stephens argues that the essay actually critiques of the use of nature to support conservative, religiously based ethics. Stephens also highlights Mill’s embrace of a stationary-state economy, his willingness to accept regulation of the economy, and his support for small-scale agriculture and land preservation. More fundamentally, Mill, who had affinities with Romanticism, rejects the self-interested, economistic individualism espoused by Jeremy Bentham and others and instead posits an individualism, or individuality, that is relational, complex, and oriented toward natural spiritedness. Mill also connects appreciation of nonhuman nature to the development of character. Millian individualism thus suggests a strong affinity between freedom and diversity on the one hand and ecological consciousness on the other.
Yingyi Qian
- Published in print:
- 2017
- Published Online:
- May 2018
- ISBN:
- 9780262534246
- eISBN:
- 9780262342728
- Item type:
- book
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262534246.001.0001
- Subject:
- Economics and Finance, International
As China has transformed itself from a centrally planned economy to a market economy, economists have tried to understand and interpret the success of Chinese reform. As the Chinese economist Yingyi ...
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As China has transformed itself from a centrally planned economy to a market economy, economists have tried to understand and interpret the success of Chinese reform. As the Chinese economist Yingyi Qian explains, there are two schools of thought on Chinese reform: the “School of Universal Principles,” which ascribes China’s successful reform to the workings of the free market, and the “School of Chinese Characteristics,” which holds that China’s reform is successful precisely because it did not follow the economics of the market but instead relied on the government. In this book, Qian offers a third perspective, taking certain elements from each school of thought but emphasizing not why reform worked but how it did. Economics is a science, but economic reform is applied science and engineering. To a practitioner, it is more useful to find a feasible reform path than the theoretically best way. The key to understanding how reform has worked in China, Qian argues, is to consider the way reform designs respond to initial historical conditions and contemporary constraints. Qian examines the role of “transitional institutions”—not “best practice institutions” but “incentive-compatible institutions”—in Chinese reform; the dual-track approach to market liberalization; the ownership of firms, viewed both theoretically and empirically; government decentralization, offering and testing hypotheses about its link to local economic development; and the specific historical conditions of China’s regional-based central planning.Less
As China has transformed itself from a centrally planned economy to a market economy, economists have tried to understand and interpret the success of Chinese reform. As the Chinese economist Yingyi Qian explains, there are two schools of thought on Chinese reform: the “School of Universal Principles,” which ascribes China’s successful reform to the workings of the free market, and the “School of Chinese Characteristics,” which holds that China’s reform is successful precisely because it did not follow the economics of the market but instead relied on the government. In this book, Qian offers a third perspective, taking certain elements from each school of thought but emphasizing not why reform worked but how it did. Economics is a science, but economic reform is applied science and engineering. To a practitioner, it is more useful to find a feasible reform path than the theoretically best way. The key to understanding how reform has worked in China, Qian argues, is to consider the way reform designs respond to initial historical conditions and contemporary constraints. Qian examines the role of “transitional institutions”—not “best practice institutions” but “incentive-compatible institutions”—in Chinese reform; the dual-track approach to market liberalization; the ownership of firms, viewed both theoretically and empirically; government decentralization, offering and testing hypotheses about its link to local economic development; and the specific historical conditions of China’s regional-based central planning.
Lino Camprubí
- Published in print:
- 2014
- Published Online:
- January 2015
- ISBN:
- 9780262027175
- eISBN:
- 9780262323222
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262027175.003.0001
- Subject:
- History, History of Science, Technology, and Medicine
This introduction places the main areas of interest for the book in the wider Spanish and international political and economic context and elaborates its main thesis with reference to the existing ...
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This introduction places the main areas of interest for the book in the wider Spanish and international political and economic context and elaborates its main thesis with reference to the existing literature.The first section situates early Francoism for readers not particularly familiar with the period. The second section discusses the relationship between an autarkic (or self-sufficient) project for the political economy and scientific and technical research. The third section engages with the existing literature on Francoist science and technology and introduces the book's main arguments. The fourth section discusses the literature, both historical and theoretical on territory and state building. There is also a layout of the rest of the chapters.Less
This introduction places the main areas of interest for the book in the wider Spanish and international political and economic context and elaborates its main thesis with reference to the existing literature.The first section situates early Francoism for readers not particularly familiar with the period. The second section discusses the relationship between an autarkic (or self-sufficient) project for the political economy and scientific and technical research. The third section engages with the existing literature on Francoist science and technology and introduces the book's main arguments. The fourth section discusses the literature, both historical and theoretical on territory and state building. There is also a layout of the rest of the chapters.
Philipp Lepenies
- Published in print:
- 2016
- Published Online:
- January 2017
- ISBN:
- 9780231175104
- eISBN:
- 9780231541435
- Item type:
- book
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231175104.001.0001
- Subject:
- Economics and Finance, Economic History
Widely used since the mid-twentieth century, GDP (gross domestic product) has become the world’s most powerful statistical indicator of national development and progress. Practically all governments ...
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Widely used since the mid-twentieth century, GDP (gross domestic product) has become the world’s most powerful statistical indicator of national development and progress. Practically all governments adhere to the idea that GDP growth is a primary economic target, and while criticism of this measure has grown, neither its champions nor its detractors deny its central importance in our political culture. In The Power of a Single Number, Philipp Lepenies recounts the lively history of GDP’s political acceptance—and eventual dominance. Locating the origins of GDP measurements in Renaissance England, Lepenies explores the social and political factors that originally hindered its use. It was not until the early 1900s that an ingenuous lone-wolf economist revived and honed GDP’s statistical approach. These ideas were then extended by John Maynard Keynes, and a more focused study of national income was born. American economists furthered this work by emphasizing GDP’s ties to social well-being, setting the stage for its ascent. GDP finally achieved its singular status during World War II, assuming the importance it retains today. Lepenies’s absorbing account helps us understand the personalities and popular events that propelled GDP to supremacy and clarifies current debates over the wisdom of the number’s rule.Less
Widely used since the mid-twentieth century, GDP (gross domestic product) has become the world’s most powerful statistical indicator of national development and progress. Practically all governments adhere to the idea that GDP growth is a primary economic target, and while criticism of this measure has grown, neither its champions nor its detractors deny its central importance in our political culture. In The Power of a Single Number, Philipp Lepenies recounts the lively history of GDP’s political acceptance—and eventual dominance. Locating the origins of GDP measurements in Renaissance England, Lepenies explores the social and political factors that originally hindered its use. It was not until the early 1900s that an ingenuous lone-wolf economist revived and honed GDP’s statistical approach. These ideas were then extended by John Maynard Keynes, and a more focused study of national income was born. American economists furthered this work by emphasizing GDP’s ties to social well-being, setting the stage for its ascent. GDP finally achieved its singular status during World War II, assuming the importance it retains today. Lepenies’s absorbing account helps us understand the personalities and popular events that propelled GDP to supremacy and clarifies current debates over the wisdom of the number’s rule.
Antonio Fatás, Atish R. Ghosh, Ugo Panizza, and Andrea F. Presbitero
- Published in print:
- 2019
- Published Online:
- December 2019
- ISBN:
- 9780198850823
- eISBN:
- 9780191885693
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198850823.003.0004
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Financial Economics
Governments issue debt for good and bad reasons. While the good reasons—intertemporal tax smoothing, fiscal stimulus, and asset management—can explain some of the increases in public debt observed in ...
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Governments issue debt for good and bad reasons. While the good reasons—intertemporal tax smoothing, fiscal stimulus, and asset management—can explain some of the increases in public debt observed in recent years, they cannot account for all of the observed changes. Bad reasons for borrowing are driven by political failures associated with intergenerational transfers, strategic manipulation, and common pool problems. These political failures are a major cause of overborrowing and budgetary institutions and fiscal rules can play a role in mitigating the tendency to overborrow. While it is difficult to establish a clear causal link from high public debt to low growth, it is likely that some countries might be paying a price in terms of lower growth and greater output volatility because of excessive debt accumulation.Less
Governments issue debt for good and bad reasons. While the good reasons—intertemporal tax smoothing, fiscal stimulus, and asset management—can explain some of the increases in public debt observed in recent years, they cannot account for all of the observed changes. Bad reasons for borrowing are driven by political failures associated with intergenerational transfers, strategic manipulation, and common pool problems. These political failures are a major cause of overborrowing and budgetary institutions and fiscal rules can play a role in mitigating the tendency to overborrow. While it is difficult to establish a clear causal link from high public debt to low growth, it is likely that some countries might be paying a price in terms of lower growth and greater output volatility because of excessive debt accumulation.
Yue Chim Richard Wong
- Published in print:
- 2013
- Published Online:
- January 2014
- ISBN:
- 9789888139446
- eISBN:
- 9789888180349
- Item type:
- chapter
- Publisher:
- Hong Kong University Press
- DOI:
- 10.5790/hongkong/9789888139446.003.0013
- Subject:
- Society and Culture, Asian Studies
This chapter offers a prism through which readers can compare a subsidy-in-cash with a subsidy-in-kind. A subsidy-in-kind not only provides people with no choice or lower flexibility, but also ...
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This chapter offers a prism through which readers can compare a subsidy-in-cash with a subsidy-in-kind. A subsidy-in-kind not only provides people with no choice or lower flexibility, but also results in misallocation of resources which in turn gives rise to economic inefficiency. Nonetheless, the majority of public policies take the form of subsidies-in-kind rather than in-cash, and the adoption of such a less efficient option has something to do with the stimulation of market demand for the providers’ services. This chapter also illustrates how the adoption of subsidy-in-kind schemes is closely intertwined with politics. Economists have long warned about the adverse effects of these schemes, and they prefer directly giving cash to those in need of help in society. Yet, ironically, this method is simply not the way of politics.Less
This chapter offers a prism through which readers can compare a subsidy-in-cash with a subsidy-in-kind. A subsidy-in-kind not only provides people with no choice or lower flexibility, but also results in misallocation of resources which in turn gives rise to economic inefficiency. Nonetheless, the majority of public policies take the form of subsidies-in-kind rather than in-cash, and the adoption of such a less efficient option has something to do with the stimulation of market demand for the providers’ services. This chapter also illustrates how the adoption of subsidy-in-kind schemes is closely intertwined with politics. Economists have long warned about the adverse effects of these schemes, and they prefer directly giving cash to those in need of help in society. Yet, ironically, this method is simply not the way of politics.
Daniel C. O'Neill
- Published in print:
- 2018
- Published Online:
- May 2019
- ISBN:
- 9789888455966
- eISBN:
- 9789888455461
- Item type:
- book
- Publisher:
- Hong Kong University Press
- DOI:
- 10.5790/hongkong/9789888455966.001.0001
- Subject:
- Political Science, International Relations and Politics
The “ASEAN Way” is based on the principle of consensus; any individual member state effectively has a veto over any proposal it does not support. This book analyzes how China uses its financial power ...
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The “ASEAN Way” is based on the principle of consensus; any individual member state effectively has a veto over any proposal it does not support. This book analyzes how China uses its financial power and influence to divide the member countries of ASEAN in order to prevent them from acting collectively to resolve their territorial disputes with China in the South China Sea. Comparative case studies of China’s relations with Cambodia, the Philippines, and Myanmar illustrate that the regime type in the country with which China is interacting plays an important role in enhancing or constraining China’s ability to influence the governments of developing states within ASEAN and globally. Authoritarian institutions facilitate Chinese influence while democratic institutions inhibit that influence. The book argues that as long as ASEAN includes developing, authoritarian regimes, and given that the United States and other global powers are unlikely to risk any serious conflict over each push of China’s maritime boundaries, little by little, China will assert its sovereignty over the South China Sea. Nevertheless, the book contends that if China chooses to engage in more sophisticated bilateral politics with democratic states, such as providing incentives to a broader range of interest groups, then China will have more success in projecting its power globally.Less
The “ASEAN Way” is based on the principle of consensus; any individual member state effectively has a veto over any proposal it does not support. This book analyzes how China uses its financial power and influence to divide the member countries of ASEAN in order to prevent them from acting collectively to resolve their territorial disputes with China in the South China Sea. Comparative case studies of China’s relations with Cambodia, the Philippines, and Myanmar illustrate that the regime type in the country with which China is interacting plays an important role in enhancing or constraining China’s ability to influence the governments of developing states within ASEAN and globally. Authoritarian institutions facilitate Chinese influence while democratic institutions inhibit that influence. The book argues that as long as ASEAN includes developing, authoritarian regimes, and given that the United States and other global powers are unlikely to risk any serious conflict over each push of China’s maritime boundaries, little by little, China will assert its sovereignty over the South China Sea. Nevertheless, the book contends that if China chooses to engage in more sophisticated bilateral politics with democratic states, such as providing incentives to a broader range of interest groups, then China will have more success in projecting its power globally.
