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1. What Makes an Imagined Future Credible?

Author:
Jens Beckert
Publication Date:
05-2024
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
Narratives of the future are a crucial source of the dynamics of capitalism (Beckert 2016). Since there are no future facts, assessments of the future necessarily need to rely on accounts that cannot be limited to the presentation of facts. This means they cannot be true or false, but they can be credible or non-credible. To trigger decisions, the narrative must convince actors that it is at least sufficiently probable that events will indeed play out as portrayed. But where does this credibility come from? I propose a simple model which consists of three elements. I distinguish first the "story-maker" or "persuader", the person (or institution) that creates specific imagined futures and often wants to convince other actors of the accuracy of the narrative. Second, the "story-taker" or agent who ultimately makes the decisions through which resources are put at risk and who needs to become convinced of the credibility of the imagined future. The third element in the model is social context, the features of the social and material environment that position the agent in a social network and influence assessments of credibility.
Topic:
Capitalism, Power, Narrative, Future, Credibility, Uncertainty, Imagined Futures, Persuasion, Social Context, and Story
Political Geography:
Global Focus

2. Triffin Reloaded: The Matrix of Contradictions around Global Quasi-State Money

Author:
Herman Mark Schwartz
Publication Date:
03-2024
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
What explains the US dollar’s role in the global economy and the tensions affecting its likely persistence? Most analyses start from Triffin’s dilemma, which accurately captured specific but partial tensions of a global monetary system based on essentially fixed exchange rates, gold backing for its core currency, and relatively robust capital controls. Triffin’s approach, and those based on it, struggles to explain the tensions in a system with floating exchange rates and fiat money, because Triffin and successors assume a commodity theory of money, a loanable funds model for credit creation, and the “triple coincidence” of monetary, legal, and economic zones. Approaching the question from different premises – chartalist money, endogenous credit creation, and interlocked global balance sheets – enables us to see four factors behind the antinomies or dilemmas that structure the dynamics and durability of US dollar centrality. Those four factors are adequate credit creation and thus global aggregate demand growth, current account deficits for the core, domestic legitimacy in major economies, and the dollar’s status as global quasi-state money.
Topic:
Debt, Money, Currency, Power, Financial Systems, Geoeconomics, and Reserves
Political Geography:
Global Focus and United States of America

3. Inshore Balancers and Reborn Opportunities: Middle Powers and the Silk Road Region

Author:
Christopher Mott
Publication Date:
08-2022
Content Type:
Journal Article
Journal:
Baku Dialogues
Institution:
ADA University
Abstract:
a middle power is a regionally potent state that lacks the global heft of a great power. In a specific localized context, however, it can behave as a great power. This strong regional focus leads to massive differentials in calculating its geopolitical weight based on proximity alone. Such states do not simply project power, however, but are long‑term regional anchors that outlast any one particular government or foreign policy stance. Their geographic base is thus also one of historical rootedness, with some version of political power stretching back generations and even across different successor governments. Thus, geography and history intertwine to create favorable security opportunities for local actors with the capacity to increase their influence in their respective neighborhoods.
Topic:
Hegemony, Power, Influence, and Middle Power
Political Geography:
Global Focus

4. Shared Human Values and the Great Powers’ Competition: Trends in the Evolution of the International Relations System

Author:
Plamen Pantev
Publication Date:
02-2022
Content Type:
Commentary and Analysis
Institution:
Institute for Security and International Studies (ISIS)
Abstract:
Unless we change and improve the quality of the international relations system (IRS) – the political toolbox for building a community with a shared future for mankind, for more effective global governance and for a more balanced global partnership for development, we shall miss the historic chance and still open window of opportunity to reach these lofty goals. How to shape such a better functioning IRS? What are its invariant characteristics in the second decade of the 21st century?
Topic:
International Relations, Governance, International Relations Theory, Strategic Competition, and Power
Political Geography:
Global Focus

5. Towards a data-centric great game: New challenges for small states in contemporary power politics

Author:
Valtteri Vuorisalo and Mika Aaltola
Publication Date:
11-2021
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs (FIIA)
Abstract:
Technology is taking centre stage in power politics. In particular, the ability to refine and utilize data increasingly correlates with the transforming global distribution of power. The world is gravitating towards US and Chinese hubs of refined data. The convergence of data towards these two hubs accelerates the divergence of states into the haves and have-nots of data, and is likely to result in a realignment of partnership systems. Standards which enable data convergence also create forms of governance and regulatory spaces that challenge the shape and dynamic of traditional global governance. While recent Finnish security reports recognize the importance of new technologies and the cyber domain, data-centricity is not fully embraced either in policy or in practice. As the technology sector grows in significance, new forms of relationships between states as well as public and private organizations need to be envisioned and established.
Topic:
Science and Technology, Hegemony, Rivalry, and Power
Political Geography:
Global Focus

6. Use of Police Force: A Framework to Ensure Good Governance Over the Use of Force

Author:
Gary White and Natalia Alejandra Escobar Cadena
Publication Date:
08-2021
Content Type:
Working Paper
Institution:
Geneva Centre for Security Sector Governance (DCAF)
Abstract:
The use of police force, either in the context of management of public assemblies and demonstrations or in the context of more routine police functions such as searches, seizures or arrests, has come under increased scrutiny around the world. Latin America, in particular, has become the epicentre of a wave of police reforms triggered by incidents involving the use of force. This publication aims to provide guidance on the key pillars that shape governance of police use of force. The paper focuses on the three main dimensions of the use of force: rule of law, human resources, and accountability. The document was built upon the work that DCAF has undertaken with police organisations in different regions and is informed by DCAF’s decades of experience supporting police reform processes across a range of countries. It offers specific examples to illustrate the context-dependent nature of each countries’ practices. While some of the examples come from countries with relatively low levels of crime and violence, the rationale behind their use of force practices is still worth considering as the underlying principles can often be adapted even to contexts that are more fragile or complex.
Topic:
Crime, State Violence, Violence, Police, and Power
Political Geography:
Global Focus

7. Who Wants to Be a Great Power?

Author:
Lawrence D. Freedman
Publication Date:
06-2020
Content Type:
Journal Article
Journal:
PRISM
Institution:
Institute for National Strategic Studies (INSS), National Defense University
Abstract:
Strategic competition is back in vogue. After years of worrying about ethnic conflict and humanitarian intervention, civil wars and counterinsurgency, there is a renewed focus among policymakers, think-tankers, and academics on traditional strategic concerns and in particular great power confrontation. For many students of international relations this appears as no more than recognizing a feature of the system that never went away.
Topic:
Military Strategy, Hegemony, Strategic Competition, and Power
Political Geography:
Global Focus

8. Who Owes? Class Struggle, Inequality and the Political Economy of Leverage as Power in the 21st Century

Author:
Stefano Sgambati
Publication Date:
08-2020
Content Type:
Working Paper
Institution:
City Political Economy Research Centre (CITYPERC), University of London
Abstract:
The prevalent consensus in critical social sciences is that finance articulates the world economy as a global hierarchy of creditor-debtor relations that reproduce and further aggravate existing income and wealth inequalities. Class struggle is conformingly understood as a conflict between elite creditors, members of the global top 1 percent of wealth holders, and mass debtors burdened by growing costs of servicing public and private debts. The article offers an alternative understanding of how debt, inequality and class relate to one another. At its basis is the recognition that over the past four decades finance has empowered upper class borrowers, including the top 1 percent, as it has magnified their capacity to generate capital gains and capture greater wealth and income shares via levered-up investments and other forms of ‘positioning’ in financial and property markets. The article thus provides a political economy of leverage as power and shows how contemporary global finance has not given shape to a distributional conflict between creditors and debtors as two distinct classes, but has set debtors against debtors, and namely the greater borrowers versus the lesser ones.
Topic:
Debt, Political Economy, Inequality, Finance, Class, Power, and Leverage
Political Geography:
Global Focus

9. Semi-Core States: A New Category For Rethinking The Structure of Power

Author:
Daniel Efrén Morales Ruvalcaba
Publication Date:
01-2019
Content Type:
Journal Article
Journal:
AUSTRAL: Brazilian Journal of Strategy International Relations
Institution:
Postgraduate Program in International Strategic Studies, Universidade Federal do Rio Grande do Sul
Abstract:
Do all the core states occupy identical positions in the hierarchy of world power and perform the same functions? The hypothesis outlined here is that there is an unforeseen category: semi-core states. They have very important socio-institutional power but are “tertiary” in terms of economic-military and communicative-cultural power. Despite their relative marginality, they play strategic roles in international politics, especially in support of the central powers (great and middle). This article analyzes the general characteristics of the so-called center of the world-system, identifies the semi-core states theoretically and empirically, explores their genesis and analyzes their roles in the international system.
Topic:
Foreign Policy, International Cooperation, Social Order, and Power
Political Geography:
Global Focus

10. Innovation and Precarity: Workplace Discourse in Twenty-First Century Capitalism

Author:
Sidney Rothstein
Publication Date:
09-2019
Content Type:
Working Paper
Institution:
Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo)
Abstract:
This paper analyzes discourse in the workplace in order to explain puzzling patterns of precarity in twenty-first century capitalism. Tech workers’ central role in digital transformation endows them with labor market power reflected by their high wages, but during economic downturns, when demand for their skills decreases, even they are vulnerable to downsizing. Comparing workers’ responses to downsizing at two sites of an American tech firm, this paper shows how management disempowers workers by framing the employment relationship in a financial discourse. Disposing workers to believe that their jobs are threatened by market forces beyond their control, rather than by managers’ decisions, this financial discourse undermines labor’s established power resources by persuading workers that mobilizing will be ineffective in protecting their jobs. Relying on detailed case study evidence, this paper demonstrates the importance of discourse to explaining variation in worker power. It argues that the workplace should play a larger role in comparative political economy, particularly in explaining labor market outcomes related to digital transformation.
Topic:
Science and Technology, Hegemony, Capitalism, Discourse, Knowledge Economy, Power, and Digital Platform Workers
Political Geography:
Global Focus