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11. Inequality in the Twenty-First Century: A Review on Rockstars of the Realm

Author:
Martyna Berenika Linartas
Publication Date:
01-2018
Content Type:
Working Paper
Institution:
Postgraduate Program on Sustainable Development and Social Inequalities in the Andean Region (trAndeS)
Abstract:
Not only has been economic inequality on the rise, but also the research agenda on inequality has moved decisively from the fringes to the center of policy and academic interest. This new concern and concentration in respect to this topic, data records, and methodological approaches have given rise to a vast amount of literature. It is for this reason that I review the most important recent works engaging with the origins of economic inequality – a debate which remains highly controversial. The usual categorization to explain the different storytelling – “to be or not to be neoliberal” – seems inappropriate. In this review on “the rockstars of the realm” (Thomas Piketty, Anthony Atkinson, Branko Milanovic and Walter Scheidel), I argue that the question and reason behind different approaches is instead: politics or the economy, which is the master that defines the space for action? The gradually established allegory of “the mirrored hourglass of inequality” illustrates the salience of this cleavage.
Topic:
International Political Economy, Political Economy, Capitalism, Inequality, Neoliberalism, and Economic Inequality
Political Geography:
Global Focus

12. The new US tax credits and carbon negative technologies

Author:
Tim Flannery
Publication Date:
03-2018
Content Type:
Research Paper
Institution:
Centre for International Environmental Studies, The Graduate Institute (IHEID)
Abstract:
It is no longer possible to achieve the goals of the Paris Climate Agreement – of keeping average global temperatures to ‘well below 2C above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5C1 - without removing large volumes of CO2 from the atmosphere.2 This will involve the development and deployment of carbon negative technologies at the gigatonne scale. Because developmental pathways for such technologies are likely to be decades-long, it is necessary that largescale investment begin now, if we hope to have mature technologies operating at the appropriate scale by 2050.
Topic:
Climate Change, Environment, Industrial Policy, Capitalism, Economic growth, and Global Warming
Political Geography:
Global Focus

13. Comparative Political Economy and Varieties of Macroeconomics

Author:
Lucio Baccaro and Jonas Pontusson
Publication Date:
11-2018
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
This paper provides a historical overview of comparative political economy as an interdisci- plinary field of study anchored in political science and focused on advanced capitalist states. We argue that this field of inquiry has reached an impasse and that a more sustained engage- ment with macroeconomics provides a way forward. Against this backdrop, we review two distinct traditions of macroeconomics – New Keynesian and Post-Keynesian macroeco- nomics – and discuss their relative merits as vehicles for renewing the research agenda of comparative political economy.
Topic:
Capitalism, Macroeconomics, and Keynes
Political Geography:
Global Focus

14. Trumps First Year at the Helm

Author:
Ville Sinkkonen and Mika Aaltola
Publication Date:
01-2018
Content Type:
Working Paper
Institution:
Finnish Institute of International Affairs
Abstract:
Donald Trump’s first year as President has been marked by continuity in US security policy, a partial challenge to the global principles of free trade, and a sea change in commitments to the liberal international order. These reflect a view of the international system as a zero-sum competitive realm.
Topic:
International Political Economy, Political Theory, and Capitalism
Political Geography:
Global Focus

15. Democracy’s Crisis: On the Political Contradictions of Financialized Capitalism

Author:
Nancy Fraser
Publication Date:
09-2018
Content Type:
Journal Article
Journal:
Centerpiece
Institution:
Weatherhead Center for International Affairs, Harvard University
Abstract:
We are currently facing a crisis of democracy. That much is beyond dispute. What is less well understood, however, is that this crisis is not freestanding, and its sources do not lie exclusively in the political realm. Contra bien-pensant commonsense, it cannot be solved by restoring civility, cultivating bipartisanship, opposing tribalism, or defending truth-oriented, fact-based discourse. Nor, contra recent democratic theory, can our political crisis be resolved by reforming the political realm—not by strengthening “the democratic ethos,” reactivating “the constituent power,” unleashing the force of “agonism” or fostering “democratic iterations.”1 All these proposals fall prey to an error I call “politicism.” By analogy with economism, politicist thinking overlooks the causal force of extra-political society. Treating the political order as self-determining, it fails to problematize the larger societal matrix that generates its deformations. In fact, democracy’s present crisis is firmly anchored in a social matrix. It represents one strand of a broader, more far-reaching crisis, which also encompasses other strands—ecological, economic, and social. Inextricably entwined with these others, it cannot be understood in isolation from them. Neither freestanding nor merely sectoral, today’s democratic ills form the specifically political strand of a general crisis that is engulfing our social order in its entirety. Their underlying bases lie in the sinews of that social order—in the latter’s institutional structures and constitutive dynamics. Bound up with processes that transcend the political, democratic crisis can only be grasped by a critical perspective on the social totality.
Topic:
Democracy, Capitalism, Social Contract, and Social Order
Political Geography:
Global Focus

16. A More Inclusive Approach to Venture Capital: Action Steps for Venture Capitalists, Ecosystem Builders, and Philanthropies

Author:
Aspen Institute
Publication Date:
07-2018
Content Type:
Working Paper
Institution:
Aspen Institute
Abstract:
On February 22, 2018, the Aspen Institute Center for Urban Innovation hosted “A More Inclusive Approach to Venture Capital,” a day-long convening of fund managers, angel investors, entrepreneurial support organization leaders, and philanthropic funders to discuss strategies to make venture capital more inclusive for people of color and for women. The convening included off-the-record conversations about how venture funds dedicated to supporting women and people of color can be smarter about measuring and bolstering their investment returns, and how the venture capital system can be more inclusive and accessible to a wide range of founders. Participants also met in small breakout groups to identify pressing next steps. The guide is a summary of what the breakout groups identified as priorities for specific actors in the venture ecosystem.
Topic:
Environment, Capitalism, Venture Capital, and Philanthropy
Political Geography:
Global Focus

17. Sovereignty or "Globalization"? Reflections on an Apparent Antagonism

Author:
Diego Pautasso and Marcelo Pereira Fernandes
Publication Date:
06-2017
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:
The article intends to problematize the alleged antagonism between, on the one hand, state capacity and sovereignty and, on the other hand, the integration of markets at a global level. The current manichaeism that tends to reduce approaches to "globalists" or "skeptics" does not contribute to the understanding of the contemporary international system. It is necessary to overcome the supposed antagonism between state-centric and transnational visions, in favor of critical approaches that understand the interlacements between the State and the internationalization of capital, which are crossed by the process of expansion of capitalism in contemporary times.
Topic:
Globalization, Sovereignty, Capitalism, and State
Political Geography:
Global Focus

18. The Rise of the European Consolidation State

Author:
Wolfgang Streeck
Publication Date:
02-2015
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
The rise of the consolidation state follows the displacement of the classical tax state, or Steuerstaat, by what I have called the debt state, a process that began in the 1980s in all rich capitalist democracies. Consolidation is the contemporary response to the “fiscal crisis of the state” envisaged as early as the late 1960s, when postwar growth had come to an end. Both the long-term increase in public debt and the current global attempts to bring it under control were intertwined with the “financialization” of advanced capitalism and its complex functions and dysfunctions. The ongoing shift towards a consolidation state involves a deep rebuilding of the political institutions of postwar democratic capitalism and its international order. This is the case in particular in Europe where consolidation coincides with an unprecedented increase in the scale of political rule under European Monetary Union and with the transformation of the latter into an asymmetric fiscal stabilization regime. The paper focuses on the developing structure of the new consolidation regime and its consequences for the relationship between capitalism and democracy.
Topic:
Debt, Monetary Policy, Democracy, Capitalism, and Financial Markets
Political Geography:
Global Focus

19. Of Arms, Freedom, and Capitalism What Piers Morgan Does Not Know

Author:
Charles Breiterman
Publication Date:
01-2015
Content Type:
Working Paper
Institution:
Independent Institute
Abstract:
Generations of students have been taught that the emergence of Parliament and capitalism in England were caused by factors such as the rise of the bourgeoisie, the rediscovery of ancient Greek democracy and the Roman republic, the Magna Carta, the enclosure movement, the Protestant ethic of accumulation (which may not actually apply to England), and English common law. To these factors should be added: a population of extremely well-armed and trained commoners, reliance upon them by the monarchy for military service, and the willingness of the commoners to stage large-scale and ferocious rebellions. It was highly advisable to secure the consent of the commoners before taxing them. The power of the commoners limited what taxation could be imposed. Limited taxation allowed commoners to accumulate substantial sums of money, a crucial factor in the emergence of capitalism in England as early as the 1400s. The power of the commoners forced elites to accommodate the notion of government for the common good (commonweal), eroded the notion that the aristocrat was superior to the commoner, and strengthened the case for equality of opportunity. The history of England stands for the proposition that contemporary firearms laws should be the most permissive reasonably possible. The article also discusses the need to achieve social change without violence. But this is not possible with many regimes worldwide, and it is naive to think tyranny can’t happen here.
Topic:
Arms Control and Proliferation, Political Theory, and Capitalism
Political Geography:
Global Focus

20. Capitalist Dynamics: Fictional Expectations and the Openness of the Future.

Author:
Jens Beckert
Publication Date:
03-2014
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
Capitalism is an economic and social order oriented toward the future. In this paper, I describe the unfolding of the temporal order of capitalism and relate it to the restless dynamism of capitalism we have observed since the Industrial Revolution. Since the future is open, actors are confronted with the uncertainty of the outcomes of their decisions. What can expectations be under conditions of uncertainty? To answer this question, I introduce the notion of fictional expectations which can be used to describe decisions made under conditions of an open and uncertain future. In the paper’s penultimate section, I apply the concept of fictional expectations to the analysis of four crucial processes of capitalism: money and credit, investments, innovation, and consumption. The main thrust of the paper is that in order to understand economic action in capitalism, actors’ perceptions of the future need to take center stage. Not only “history matters,” but also the “future matters.”
Topic:
Economics, Markets, Socialism/Marxism, Social Movement, and Capitalism
Political Geography:
Global Focus