Outsourcing is normally conceived as the result of a cost-minimizing choice of a new technique that also implies a redefinition of the boundaries between firms and sectors. In this paper, we will argue instead that many outsourcing activities do not necessarily imply technical change and that the phenomenon can be explained by placing it in connection with the radical modification of the way in which wages are set for workers in a wide range of poorly regulated firms and industries. More than as an aspect of the spread of technical progress, outsourcing will be analyzed as an important mechanism through which workers are divided and their bargaining power is weakened, thus changing the outcome of the distributive conflict between profit and wages.
{"title":"Domestic Outsourcing and Workers’ Bargaining Power in a Simple Production System","authors":"Aldo Barba","doi":"10.1093/cpe/bzaa001","DOIUrl":"https://doi.org/10.1093/cpe/bzaa001","url":null,"abstract":"\u0000 Outsourcing is normally conceived as the result of a cost-minimizing choice of a new technique that also implies a redefinition of the boundaries between firms and sectors. In this paper, we will argue instead that many outsourcing activities do not necessarily imply technical change and that the phenomenon can be explained by placing it in connection with the radical modification of the way in which wages are set for workers in a wide range of poorly regulated firms and industries. More than as an aspect of the spread of technical progress, outsourcing will be analyzed as an important mechanism through which workers are divided and their bargaining power is weakened, thus changing the outcome of the distributive conflict between profit and wages.","PeriodicalId":38730,"journal":{"name":"Contributions to Political Economy","volume":"39 1","pages":"42-56"},"PeriodicalIF":0.0,"publicationDate":"2020-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/cpe/bzaa001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45541430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Sex Factor: How Women Made the West Rich","authors":"Ali Digby","doi":"10.1093/cpe/bzaa007","DOIUrl":"https://doi.org/10.1093/cpe/bzaa007","url":null,"abstract":"","PeriodicalId":38730,"journal":{"name":"Contributions to Political Economy","volume":"39 1","pages":"104-106"},"PeriodicalIF":0.0,"publicationDate":"2020-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/cpe/bzaa007","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41922093","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Gresham’s Law: The Life and World of Queen Elizabeth I’s Banker","authors":"M. El-Erian","doi":"10.1093/cpe/bzaa009","DOIUrl":"https://doi.org/10.1093/cpe/bzaa009","url":null,"abstract":"","PeriodicalId":38730,"journal":{"name":"Contributions to Political Economy","volume":"39 1","pages":"91-94"},"PeriodicalIF":0.0,"publicationDate":"2020-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/cpe/bzaa009","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46472653","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper is concerned with the role of effective demand in Malthus’s theory of accumulation expounded in his Principles of Political Economy. As is well known, Keynes praised Malthus for being a forerunner in identifying a lack of effective demand as a cause of depression in economic activity and a constraint on growth. There have since been many interpretations in the literature of Malthus’s position by reference to his arguments against Say’s Law in contending the possibility of “general gluts” and to his theory of capital accumulation. We begin by examining Malthus’s conception of the supply-side factors that determine what we call, “potential accumulation”, being accumulation that is not constrained by demand. The paper then considers the role of effective demand in Malthus’s well known contention of the possibility of “general gluts” and, connectedly, in his theory of demand-constrained capital accumulation. On this basis, we then appraise whether Malthus’s theory anticipates Keynes’s principle of effective demand by reference to the debate on this question in the literature, showing that while Malthus lacked a meaningful saving-investment analysis, he does provide insights important to the modern demand-led approach to growth.
{"title":"A Reconsideration of the Role of Demand in Malthus’s Theory of Accumulation*","authors":"Matthew G. Smith","doi":"10.1093/cpe/bzaa004","DOIUrl":"https://doi.org/10.1093/cpe/bzaa004","url":null,"abstract":"\u0000 This paper is concerned with the role of effective demand in Malthus’s theory of accumulation expounded in his Principles of Political Economy. As is well known, Keynes praised Malthus for being a forerunner in identifying a lack of effective demand as a cause of depression in economic activity and a constraint on growth. There have since been many interpretations in the literature of Malthus’s position by reference to his arguments against Say’s Law in contending the possibility of “general gluts” and to his theory of capital accumulation. We begin by examining Malthus’s conception of the supply-side factors that determine what we call, “potential accumulation”, being accumulation that is not constrained by demand. The paper then considers the role of effective demand in Malthus’s well known contention of the possibility of “general gluts” and, connectedly, in his theory of demand-constrained capital accumulation. On this basis, we then appraise whether Malthus’s theory anticipates Keynes’s principle of effective demand by reference to the debate on this question in the literature, showing that while Malthus lacked a meaningful saving-investment analysis, he does provide insights important to the modern demand-led approach to growth.","PeriodicalId":38730,"journal":{"name":"Contributions to Political Economy","volume":"39 1","pages":"57-76"},"PeriodicalIF":0.0,"publicationDate":"2020-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/cpe/bzaa004","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45306985","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper is a review of a substantial collection of essays dealing with Physiocracy and its opponents. Its review led to the first correct reading of an important letter of Galiani and to some new clarifications on the readership of the works of François Quesnay. JEL Classification: B11; B31.
{"title":"About Physiocracy: A Review Article Incorporating Some Remarks on An Important Letter of Galiani and on The Dissemination and Readership of Quesnay’s Works*","authors":"G. Sabbagh","doi":"10.1093/cpe/bzaa003","DOIUrl":"https://doi.org/10.1093/cpe/bzaa003","url":null,"abstract":"\u0000 This paper is a review of a substantial collection of essays dealing with Physiocracy and its opponents. Its review led to the first correct reading of an important letter of Galiani and to some new clarifications on the readership of the works of François Quesnay.\u0000 JEL Classification: B11; B31.","PeriodicalId":38730,"journal":{"name":"Contributions to Political Economy","volume":"39 1","pages":"77-90"},"PeriodicalIF":0.0,"publicationDate":"2020-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/cpe/bzaa003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49170417","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Truth About Social Security: The Founders’ Words Refute Revisionist History, Zombie Lies, and Common Misunderstandings","authors":"Neil H. Buchanan","doi":"10.1093/cpe/bzaa006","DOIUrl":"https://doi.org/10.1093/cpe/bzaa006","url":null,"abstract":"","PeriodicalId":38730,"journal":{"name":"Contributions to Political Economy","volume":"39 1","pages":"95-98"},"PeriodicalIF":0.0,"publicationDate":"2020-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/cpe/bzaa006","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48681779","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Under Marx’s critique of Say’s Law, as originally devised by Say and James Mill, money hoarding leads to a shortfall in aggregate demand. This paper responds to a Post Keynesian argument that hoarding does not restrict aggregate demand since for Marx money consists of a produced commodity, and hoarding is just one form of commodity demand. Drawing on Marx’s monetary writings, a new monetary equilibrium is suggested in which produced gold is used to replace wear and tear in circulation. An alternative critique of Say’s Law is thus proposed as a contribution to understanding the complexity of Marx’s monetary foundations.
{"title":"Marx, Say’s Law and Commodity Money","authors":"A. Trigg","doi":"10.1093/CPE/BZAA005","DOIUrl":"https://doi.org/10.1093/CPE/BZAA005","url":null,"abstract":"\u0000 Under Marx’s critique of Say’s Law, as originally devised by Say and James Mill, money hoarding leads to a shortfall in aggregate demand. This paper responds to a Post Keynesian argument that hoarding does not restrict aggregate demand since for Marx money consists of a produced commodity, and hoarding is just one form of commodity demand. Drawing on Marx’s monetary writings, a new monetary equilibrium is suggested in which produced gold is used to replace wear and tear in circulation. An alternative critique of Say’s Law is thus proposed as a contribution to understanding the complexity of Marx’s monetary foundations.","PeriodicalId":38730,"journal":{"name":"Contributions to Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/CPE/BZAA005","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47757082","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Essays on Theories of Value in the Classical Tradition","authors":"Matthew G. Smith","doi":"10.1093/cpe/bzaa011","DOIUrl":"https://doi.org/10.1093/cpe/bzaa011","url":null,"abstract":"","PeriodicalId":38730,"journal":{"name":"Contributions to Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/cpe/bzaa011","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45205392","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Democratic Practice: Origins of the Iberian Divide in Political Inclusion","authors":"R. Mamede","doi":"10.1093/cpe/bzaa008","DOIUrl":"https://doi.org/10.1093/cpe/bzaa008","url":null,"abstract":"","PeriodicalId":38730,"journal":{"name":"Contributions to Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/cpe/bzaa008","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46971705","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A Rajk Szakkollégium 2020-as Neumann-díjasa Mariana Mazzucato, aki jelenleg a UCL2 professzora, illetve a UCL Institute for Innovation & Public Purpose alapítója és igazgatója. Kutatási területe elsősorban az állam innovációban és ezáltal a gazdasági növekedésben betöltött szerepének megértése és újradefiniálása. Kutatási tevékenységén túl politikai tanácsadóként is működik, nemzetközi szervezetek és kormányfők kérik ki véleményét évek óta. Több nagyhatású könyv szerzője, melyek közül a The Value of Everything: making and taking in the global economy című művének segítségével próbálok a következőkben képet adni munkásságáról.
{"title":"The Value of Everything: Making and Taking in the Global Economy","authors":"Brian Thorn","doi":"10.1093/cpe/bzaa010","DOIUrl":"https://doi.org/10.1093/cpe/bzaa010","url":null,"abstract":"A Rajk Szakkollégium 2020-as Neumann-díjasa Mariana Mazzucato, aki jelenleg a UCL2 professzora, illetve a UCL Institute for Innovation & Public Purpose alapítója és igazgatója. Kutatási területe elsősorban az állam innovációban és ezáltal a gazdasági növekedésben betöltött szerepének megértése és újradefiniálása. Kutatási tevékenységén túl politikai tanácsadóként is működik, nemzetközi szervezetek és kormányfők kérik ki véleményét évek óta. Több nagyhatású könyv szerzője, melyek közül a The Value of Everything: making and taking in the global economy című művének segítségével próbálok a következőkben képet adni munkásságáról.","PeriodicalId":38730,"journal":{"name":"Contributions to Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-05-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/cpe/bzaa010","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45056821","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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