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1. On Sovereignties and Solidarities

Author:
Julio César Guanche Zaldívar and Sara Kozameh
Publication Date:
03-2020
Content Type:
Commentary and Analysis
Institution:
The North American Congress on Latin America (NACLA)
Abstract:
The United States must abandon Cold War-era foreign policies and accept that Cuba is a sovereign nation free to define its political future— even if that means continuing socialism.
Topic:
Foreign Policy, Cold War, Sovereignty, Socialism/Marxism, and Capitalism
Political Geography:
United States and Cuba

2. Capital, Inequality, and Compulsory Savings: Australia’s Superannuation System in the Context of Piketty

Author:
Brody Viney
Publication Date:
05-2020
Content Type:
Journal Article
Journal:
Woodrow Wilson School Journal of Public and International Affairs
Institution:
Woodrow Wilson School of Public and International Affairs, Princeton University
Abstract:
A fundamental aspect of economic inequality, highlighted by Thomas Piketty’s Capital in the Twenty-first Century, is the unequal distribution of capital ownership (wealth). This not only undermines the welfare of individuals with low wealth, but exacerbates the distributional consequences of a declining labor share of income. However, policy responses to wealth inequality remain underdeveloped. This paper considers how policies that increase the private savings of low- and middle-income individuals can complement more traditional taxation and redistribution approaches. As a case study, it explores the distributional effects of Australia’s superannuation system, a private retirement savings scheme that sets a compulsory minimum savings rate for all employees. Superannuation has contributed to a more equal distribution of wealth in Australia, particularly by offsetting declines in other kinds of wealth among those at the low end of the distribution. However, loopholes have also allowed high-income individuals to use the system to save in a low-tax environment. Further work is needed to investigate the effects of compulsory savings rates on those with very low incomes.
Topic:
Labor Issues, Capitalism, Tax Systems, and Economic Inequality
Political Geography:
Australia and Asia-Pacific

3. Unexpected Guests? The Soviet Union and the History of Global Capitalism: An Interview with Oscar Sanchez-Sibony

Author:
Oscar Sanchez-Sibony
Publication Date:
02-2020
Content Type:
Commentary and Analysis
Institution:
The Toynbee Prize Foundation
Abstract:
Capitalism versus Communism. To many, the latter half of the twentieth history was deeply shaped by the confrontation between these two ideological and socioeconomic systems. When the Soviet Union collapsed in 1991, capitalism's triumph was credited to its valorization of money and protection of markets, among other factors; and, as the story continues, Communists failed, in part, because they suppressed markets and globalization. Yet, how much of this historical picture holds true? To Oscar Sanchez-Sibony, a good deal of Cold War histories are founded on generally held misconceptions about the political economy of the Soviet Union. Not only do they ignore the intense engagements between the Soviets and the world, they often miss the mark by neglecting the larger financial and economic architecture that facilitated such exchanges and economic growth in the Union of Soviet Socialist Republics (USSR). There is a larger story to be told about the rise of global capitalism and the Soviet Union. These are the themes of Red Globalization: The Political Economy of the Soviet Cold War from Stalin to Khrushchev (2014). Making use of archival documents from Russian archives, Sanchez-Sibony provides a rich account of how a young Bolshevik state navigated through the world's economic crises, while seeking favorable trading partners in the West for investments. This interview also ventures into topics and figures such as Depression Stalinism, Anastas Mikoyan, and Soviet-Global South relations. This book provoked much debate, and will be a must-read for years to come for anyone interested in histories of the Soviet Union, global capitalism, and the global Cold War. Oscar Sanchez-Sibony is Assistant Professor of History at the University of Hong Kong, where he teaches and researches subjects in Soviet history, Stalinism, and capitalism. He received his Ph.D. from the University of Chicago under the guidance of Sheila Fitzpatrick. Toynbee Foundation had the pleasure to talk with him about his career and the development of his research.
Topic:
Cold War, Communism, Globalization, History, Capitalism, and Global Political Economy
Political Geography:
Russia and Soviet Union

4. Transcending History’s Heavy Hand The Future in Economic Action

Author:
Jens Beckert and Timur Ergen
Publication Date:
03-2020
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
This paper discusses sociological analyses of the formation and role of expectations in the economy. Recognition of the social constitution of expectations advances the understand- ing of economic action under conditions of uncertainty and helps to explain core features of modern capitalist societies. The range of applications of the analytical perspective is il- lustrated by closer examination of three core spheres of capitalist societies: consumption, investment, and innovation. To provide an idea of core challenges of the approach, three major research questions for the sociological analysis of expectations are presented.
Topic:
Economics, Markets, Sociology, Capitalism, and Innovation
Political Geography:
Global Focus

5. Not All Firms Are Created Equal SMEs and Vocational Training in the UK, Italy, and Germany

Author:
Chiara Benassi, Niccolò Durazzi, and Johann Fortwengel
Publication Date:
04-2020
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
Why do skill formation systems put SMEs at greater disadvantage in some countries than others vis-à-vis large employers? By comparing vocational education and training (VET) institutions and their differential effect on firms of different sizes across three countries (UK, Italy, and Germany), we show that the design of VET has profound implications for shap- ing the ability of SMEs to use institutions as resources. In particular, quasi-market institu- tions in the UK amplify SMEs’ disadvantage, while non-market coordinating institutions in Italy and Germany narrow the gap between SMEs and large employers. By unpacking the comparative disadvantage of SMEs, we offer important nuances to the argument that institutions help firms coordinate their business activities in different varieties of capitalism.
Topic:
Political Economy, Capitalism, and Vocational Training
Political Geography:
United Kingdom, Europe, Germany, and Italy

6. Inclusive American Economic History: Containing Slaves, Freedmen, Jim Crow Laws, and the Great Migration

Author:
Trevon Logan and Peter Temin
Publication Date:
01-2020
Content Type:
Working Paper
Institution:
Institute for New Economic Thinking (INET)
Abstract:
This paper records the path by which African Americans were transformed from enslaved persons in the American economy to partial participants in the progress of the economy. The path was not monotonic, and we organize our tale by periods in which inclusiveness rose and fell. The history we recount demonstrates the staying power of the myth of black inferiority held by a changing white majority as the economy expanded dramatically. Slavery was outlawed after the Civil War, and blacks began to participate in American politics en masse for the first time during Reconstruction. This process met with white resistance, and black inclusion in the growing economy fell as the Gilded Age followed and white political will for black political participation faded. The Second World War also was followed by prosperity in which blacks were included more fully into the white economy, but still not completely. The Civil Rights Movement proved no more durable than Reconstruction, and blacks lost ground as the 20th century ended in the growth of a New Gilded Age. Resources that could be used to improve the welfare of whites and blacks continue to be spent on the continued repressions of blacks.
Topic:
Economics, Race, History, Capitalism, and Slavery
Political Geography:
United States and Global Focus

7. Democracy and Prosperity: Reinventing Capitalism through a Turbulent Century, Torben Iversen and David Soskice

Author:
Christopher Way
Publication Date:
07-2020
Content Type:
Journal Article
Journal:
Political Science Quarterly
Institution:
Academy of Political Science
Abstract:
In a climate of concern about the future of capitalism and democracy, this book provides a robust defense of both. Capitalism and democracy, Torben Iversen and David Soskice argue, are mutually reinforcing, and the combination has been remarkably successful over the past century. In what will probably be the most discussed part of the book, they anticipate that the symbiotic pair will continue to thrive, overcoming the challenges posed by populism and inequality. Democracy and Prosperity provides a challenge to those who believe that capitalism is increasingly unable to fulfill the needs of broad swaths of society and that democracy is creaking under the strains of populism.
Topic:
History, Democracy, Capitalism, and Book Review
Political Geography:
Global Focus

8. North Atlantic Perspectives: A Forum on Stuart Hall’s The Fateful Triangle: Race, Ethnicity, Nation, Part I

Author:
Donna V. Jones, Kevin Bruyneel, and William Garcia Medina
Publication Date:
08-2019
Content Type:
Journal Article
Journal:
Contexto Internacional
Institution:
Institute of International Relations, Pontifical Catholic University of Rio de Janeiro
Abstract:
Stuart Hall, a founding scholar in the Birmingham School of cultural studies and eminent theorist of ethnicity, identity and difference in the African diaspora, as well as a leading analyst of the cultural politics of the Thatcher and post-Thatcher years, delivered the W. E. B. Du Bois Lectures at Harvard University in 1994. In the lectures, published after a nearly quarter-century delay as The Fateful Triangle: Race, Ethnicity, Nation (2017), Hall advances the argument that race, at least in North Atlantic contexts, operates as a ‘sliding signifier,’ such that, even after the notion of a biological essence to race has been widely discredited, race-thinking nonetheless renews itself by essentializing other characteristics such as cultural difference. Substituting Michel Foucault’s famous power-knowledge dyad with power-knowledge-difference, Hall argues that thinking through the fateful triangle of race, ethnicity and nation shows us how discursive systems attempt to deal with human difference. Part I of the forum critically examines the promise and potential problems of Hall’s work from the context of North America and western Europe in the wake of #BlackLivesMatter and Brexit. Donna Jones suggests that, although the Birmingham School’s core contributions shattered all certainties about class identity, Hall’s Du Bois Lectures may be inadequate to a moment when white racist and ethno-nationalist appeals are ascendant in the USA and Europe and that, therefore, his and Paul Gilroy’s earlier work on race and class deserve our renewed attention. Kevin Bruyneel examines Hall’s work on race in relation to three analytics that foreground racism’s material practices: intersectionality, racial capitalism and settler colonialism. William Garcia in the final contribution asks us to think about the anti-immigrant black nativisms condoned and even encouraged by discourses of African-American identity and by unmarked references to blackness in the US context. In ‘Fateful Triangles in Brazil,’ Part II of Contexto Internacional’s forum on The Fateful Triangle, three scholars work with and against Hall’s arguments from the standpoint of racial politics in Brazil.
Topic:
International Relations, Race, Capitalism, Ethnicity, and Nation-State
Political Geography:
Brazil and Global Focus

9. Economics for Inclusive Prosperity: An Introduction

Author:
Suresh Naidu, Dani Rodrik, and Gabriel Zucman
Publication Date:
01-2019
Content Type:
Policy Brief
Institution:
Economics for Inclusive Prosperity (EfIP)
Abstract:
We live in an age of astonishing inequality. Income and wealth disparities between the rich and the poor in the United States have risen to heights not seen since the gilded age in the early part of the 20th century, and are among the highest in the developed world. Median wages for American workers remain at 1970s levels. Fewer and fewer among newer generations can expect to do better than their parents. Organizational and technological changes and globalization have fueled great wealth accumulation among those able to take advantage of them, but have left large segments of the population behind. U.S. life expectancy has declined for the third year in a row in 2017, and the allocation of healthcare looks both inefficient and unfair. Advances in automation and digitization threaten even greater labor market disruptions in the years ahead. Climate change fueled disasters increasingly disrupt everyday life. Greater prosperity and inclusion both seem attainable, yet the joint target recedes ever further.
Topic:
Economics, Capitalism, Inequality, Economic Policy, and Economic Theory
Political Geography:
United States

10. Gossip, Corporate Reputation, and the 1905 Life Insurance Scandal in New York

Author:
Oenone Kubie, Rebecca Orr, Mara Keire, and Christopher McKenna
Publication Date:
12-2019
Content Type:
Case Study
Institution:
Oxford Centre for Global History
Abstract:
On the evening of 31 January 1905, six hundred of the richest and most powerful members of New York society descended on Sherry’s Hotel dressed in extravagant costumes designed to resemble the court of the French King, Louis XV. The wealth on display was astounding. Pearls, emeralds, turquoise, and diamonds abounded. Mrs Potter Palmer, the queen of Chicago society, appeared dressed in a diamond tiara, diamond choker, and diamond breastplates. Mrs Clarence Mackay, wife of the chairman of the Postal Telegraph Company and a suffragist, wore a gold and turquoise crown and the train of her dress was so long, that despite the help of her two pages, she was forced to sit out the dancing.
Topic:
International Trade and Finance, History, Capitalism, and Multinational Corporations
Political Geography:
United States, New York, France, and Global Focus