The recent ‘big tech and antitrust' discourse in the U.S. and abroad is primarily dominated by references to Louis D. Brandeis and the so-called New Brandeis move- ment, also known as ‘hipster antitrust.' While it is laudable that many researchers - and politicians - acknowledge and recognize the work of Brandeis, it is also a missed opportunity to refer to him en passant and not investigate his socio-political philos- ophy in more depth. This paper attempts to fill this gap in the academic literature and evaluate Brandeis' achievements and (theoretical) shortcomings from a history of economic and legal thought perspective. It does so by taking a closer look at the life and work of Brandeis and analyzing his socio-economic and legal philosophy. Furthermore, the paper addresses the question of which lessons can be drawn from his work and how it could inspire today's political discourse(s).
最近在美国和国外关于“大型科技公司和反垄断”的讨论主要是关于路易斯·d·布兰代斯(Louis D. Brandeis)和所谓的新布兰代斯运动(New Brandeis movement)，也被称为“潮人反垄断”。尽管许多研究者——以及政治家——承认和认可布兰代斯的工作是值得称赞的，但也错过了一个顺便提到他而没有更深入地研究他的社会政治哲学的机会。本文试图填补这一学术文献的空白，并从经济和法律思想史的角度评价布兰代斯的成就和(理论)缺陷。本书通过仔细研究布兰代斯的生活和工作，并分析他的社会经济和法律哲学来实现这一点。此外，本文还探讨了可以从他的作品中吸取哪些教训，以及这些教训如何启发当今的政治话语。
{"title":"Louis Brandeis - Founding Father of Modern-Day Antitrust?","authors":"Manuel Wörsdörfer","doi":"10.3280/spe2023-001001","DOIUrl":"https://doi.org/10.3280/spe2023-001001","url":null,"abstract":"The recent ‘big tech and antitrust' discourse in the U.S. and abroad is primarily dominated by references to Louis D. Brandeis and the so-called New Brandeis move- ment, also known as ‘hipster antitrust.' While it is laudable that many researchers - and politicians - acknowledge and recognize the work of Brandeis, it is also a missed opportunity to refer to him en passant and not investigate his socio-political philos- ophy in more depth. This paper attempts to fill this gap in the academic literature and evaluate Brandeis' achievements and (theoretical) shortcomings from a history of economic and legal thought perspective. It does so by taking a closer look at the life and work of Brandeis and analyzing his socio-economic and legal philosophy. Furthermore, the paper addresses the question of which lessons can be drawn from his work and how it could inspire today's political discourse(s).","PeriodicalId":40401,"journal":{"name":"History of Economic Thought and Policy","volume":"38 10S 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135338109","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}
The paper reconstructs the debates in the USA about economic theorizing and policymaking advisory concerning a multi-layered system of governments. Beyond apparent similarities, it highlights the ontological divides between Ostrom-Tiebout- Warren on polycentric governance and Buchanan on competitive federalism on the one side, and Musgrave's and Olson's fiscal federalism. It further underlines how such divides - concerning the relative role of individuals, markets, collective author- ities, and social order - echoed similar debates in Europe related to a multi-layered economic system, again depending mostly on different ontological assumptions.
{"title":"Market Failures and Multi-layered Collective Action. US Economic Debates","authors":"Fabio Masini, Albertina Nania","doi":"10.3280/spe2023-001003","DOIUrl":"https://doi.org/10.3280/spe2023-001003","url":null,"abstract":"The paper reconstructs the debates in the USA about economic theorizing and policymaking advisory concerning a multi-layered system of governments. Beyond apparent similarities, it highlights the ontological divides between Ostrom-Tiebout- Warren on polycentric governance and Buchanan on competitive federalism on the one side, and Musgrave's and Olson's fiscal federalism. It further underlines how such divides - concerning the relative role of individuals, markets, collective author- ities, and social order - echoed similar debates in Europe related to a multi-layered economic system, again depending mostly on different ontological assumptions.","PeriodicalId":40401,"journal":{"name":"History of Economic Thought and Policy","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41995764","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 surveys Vicarelli's economic policy proposals. We begin by offering brief contextual sketches and later examine the flaws in the "neoclassical synthesis" approach in accounting for stagflation. By first recognizing the inadequacy of the traditional approach at the heuristic-interpretative level, we then recall the policy proposals suggested by Vicarelli in order to foster the accumulation process. As will be pointed out, these were useful tools in restoring and enhancing the state of confi- dence as well as the marginal efficiency of capital. We conclude that Vicarelli leans towards a sort of "return to Keynes" in considering institutional engineering solu- tions in the context of a monetary production economy, whose functioning is af- fected by complex interaction mechanisms and systemic uncertainty.
{"title":"Facing Stagflation in the Seventies in Italy: Fausto Vicarelli's Economic Policy Proposals","authors":"Giovanni Michelagnoli","doi":"10.3280/spe2023-001002","DOIUrl":"https://doi.org/10.3280/spe2023-001002","url":null,"abstract":"This paper surveys Vicarelli's economic policy proposals. We begin by offering brief contextual sketches and later examine the flaws in the \"neoclassical synthesis\" approach in accounting for stagflation. By first recognizing the inadequacy of the traditional approach at the heuristic-interpretative level, we then recall the policy proposals suggested by Vicarelli in order to foster the accumulation process. As will be pointed out, these were useful tools in restoring and enhancing the state of confi- dence as well as the marginal efficiency of capital. We conclude that Vicarelli leans towards a sort of \"return to Keynes\" in considering institutional engineering solu- tions in the context of a monetary production economy, whose functioning is af- fected by complex interaction mechanisms and systemic uncertainty.","PeriodicalId":40401,"journal":{"name":"History of Economic Thought and Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47336054","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 provides a historical review of the two main debates around Sen's liberalism between the Seventies and the Nineties since his "The Impossibility of a Paretian Liberal2 (1970). The first debat was published in the Journal of Political Economy and included several contributions, such as those of Hillinger and Lapham (1971), Sen's reply to Hillinger and Lapham (1971) and Ng (1971). The second de- bate appeared in Analyse & Kritik and includes the contributions of Buchanan (1996), and Mueller (1996), along with Sen's reply (1996). This analysis is histori- cally relevant because it offers the opportunity to explore both the evolution of the main critiques on: Sen's liberalism and Sen's replies within these 25 years. The most important observation of this paper is that these different perspectives, elaborated in different historical moments, reached the same conclusion, namely that Sen's liber- alism is rather "illiberal".
{"title":"The Impossibility of a Paretian (Il)liberal. A Historical Review Around Sen's Liberalism (1970-1996)","authors":"Valentina Erasmo","doi":"10.3280/spe2023-001004","DOIUrl":"https://doi.org/10.3280/spe2023-001004","url":null,"abstract":"This paper provides a historical review of the two main debates around Sen's liberalism between the Seventies and the Nineties since his \"The Impossibility of a Paretian Liberal2 (1970). The first debat was published in the Journal of Political Economy and included several contributions, such as those of Hillinger and Lapham (1971), Sen's reply to Hillinger and Lapham (1971) and Ng (1971). The second de- bate appeared in Analyse & Kritik and includes the contributions of Buchanan (1996), and Mueller (1996), along with Sen's reply (1996). This analysis is histori- cally relevant because it offers the opportunity to explore both the evolution of the main critiques on: Sen's liberalism and Sen's replies within these 25 years. The most important observation of this paper is that these different perspectives, elaborated in different historical moments, reached the same conclusion, namely that Sen's liber- alism is rather \"illiberal\".","PeriodicalId":40401,"journal":{"name":"History of Economic Thought and Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45918877","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":"Book review","authors":"A. C. della Redazione","doi":"10.3280/spe2022-002006","DOIUrl":"https://doi.org/10.3280/spe2022-002006","url":null,"abstract":"","PeriodicalId":40401,"journal":{"name":"History of Economic Thought and Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41724683","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}
The paper suggests to explore the theoretical and cultural influences on the re-forms made to the International Monetary System since the 1960s, when Triffin's Dilemma "was apparent for all to see", as Volcker suggested. Schmelzer argues that "when Milton Friedman published his article calling for flexible exchange rates in 1953, less than 5 percent of economists around the world shared his view," while in the late 1960s, "about 90 percent of economists did, and they were joined by powerful figures within the government and banking community". Such con-sensus contributed to strengthening the influence of neoliberal theories not only in the scientific environment of economists, but also and especially in the terrain of the directions taken internationally by political and financial institutions. It is therefore high time to ascertain through an empirical and chronological investigation whether there is any correlation between neoliberal paradigms and the International Monetary Fund's restrictive policy choices regarding the allocations of special drawing rights (the basket currency that was supposed to provide for global liquidity needs), and whether their supporters followed any specific and shared view.
{"title":"Redesigning the International Monetary System. Intellectual Influences and the Return of the Special Drawing Rights: An Open Issue","authors":"Albertina Nania","doi":"10.3280/spe2022-002005","DOIUrl":"https://doi.org/10.3280/spe2022-002005","url":null,"abstract":"The paper suggests to explore the theoretical and cultural influences on the re-forms made to the International Monetary System since the 1960s, when Triffin's Dilemma \"was apparent for all to see\", as Volcker suggested. Schmelzer argues that \"when Milton Friedman published his article calling for flexible exchange rates in 1953, less than 5 percent of economists around the world shared his view,\" while in the late 1960s, \"about 90 percent of economists did, and they were joined by powerful figures within the government and banking community\". Such con-sensus contributed to strengthening the influence of neoliberal theories not only in the scientific environment of economists, but also and especially in the terrain of the directions taken internationally by political and financial institutions. It is therefore high time to ascertain through an empirical and chronological investigation whether there is any correlation between neoliberal paradigms and the International Monetary Fund's restrictive policy choices regarding the allocations of special drawing rights (the basket currency that was supposed to provide for global liquidity needs), and whether their supporters followed any specific and shared view.","PeriodicalId":40401,"journal":{"name":"History of Economic Thought and Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43381990","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}
Stefano Figuera, Guglielmo Forges Davanzati, Andrea Pacella
The paper aims to analysis the ordoliberal legacy in European Monetary Policy between 1998 and 2020. What emerges is that although ordoliberal principles were incorporated into the guiding values of the European treaties, they did not play a key role in guiding either the monetary policy strategies fixed in 1998 and 2003 or the ECB interventions implemented between 2011 and 2020 in response to the Great Recession and the sovereign debt crisis. This is basically due to a) the ECB's acceptance of the New Consensus Macroeconomics (NCM) that recognises the endogenous nature of money and its partial non-neutrality, b) the ECB's constant tendency to act discretionally in order to reach different goals.
{"title":"Considerations on the Legacy of Ordoliberalism in European Monetary Policy","authors":"Stefano Figuera, Guglielmo Forges Davanzati, Andrea Pacella","doi":"10.3280/spe2022-002004","DOIUrl":"https://doi.org/10.3280/spe2022-002004","url":null,"abstract":"The paper aims to analysis the ordoliberal legacy in European Monetary Policy between 1998 and 2020. What emerges is that although ordoliberal principles were incorporated into the guiding values of the European treaties, they did not play a key role in guiding either the monetary policy strategies fixed in 1998 and 2003 or the ECB interventions implemented between 2011 and 2020 in response to the Great Recession and the sovereign debt crisis. This is basically due to a) the ECB's acceptance of the New Consensus Macroeconomics (NCM) that recognises the endogenous nature of money and its partial non-neutrality, b) the ECB's constant tendency to act discretionally in order to reach different goals.","PeriodicalId":40401,"journal":{"name":"History of Economic Thought and Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42078060","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}
Luigi Capoani, Gianluca Bortoletto, Samuele Fratini, Violetta Van Veen, Cristoforo Imbesi
This article aims to present a balanced bibliographic review on the genesis of the Blue Banana and its further developments. Different contributions have been collected to obtain a comprehensive picture of the European regional concept from both historical and theoretical perspectives. Besides the review of the litera-ture, this article contributes to the existing research on the Blue Banana with a comprehensive investigation of its current features, including urbanization, infra-structures, labor market, productivity, and competitiveness. These aspects raise significant implications at the EU level in terms of promoting policies aimed at the reduction of disparities among the European regions, whose development strate-gies could be further scrutinized, thus benefiting the continent as a whole.
{"title":"The Genesis and Evolution of the Blue Banana Region","authors":"Luigi Capoani, Gianluca Bortoletto, Samuele Fratini, Violetta Van Veen, Cristoforo Imbesi","doi":"10.3280/spe2022-002001","DOIUrl":"https://doi.org/10.3280/spe2022-002001","url":null,"abstract":"This article aims to present a balanced bibliographic review on the genesis of the Blue Banana and its further developments. Different contributions have been collected to obtain a comprehensive picture of the European regional concept from both historical and theoretical perspectives. Besides the review of the litera-ture, this article contributes to the existing research on the Blue Banana with a comprehensive investigation of its current features, including urbanization, infra-structures, labor market, productivity, and competitiveness. These aspects raise significant implications at the EU level in terms of promoting policies aimed at the reduction of disparities among the European regions, whose development strate-gies could be further scrutinized, thus benefiting the continent as a whole.","PeriodicalId":40401,"journal":{"name":"History of Economic Thought and Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48763335","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 note presents an unpublished 1939 address given by the American sociologist and population specialist Norman Edwin Himes on "Eugenics and Democracy: A Call to Action. Himes's discussion of eugenics and democracy has a two-fold relevance. First, it provides further evidence that among population studies specialists a generalized commitment to eugenics persisted well beyond the era of the so-called Progressive Era and continued throughout the 1930s. Second, Himes's approach reveals an attempt to reformulate a eugenic agenda along "liberal" lines, which was intended to distance him from the coercive and racialist approach of his progressive predecessors. Yet, it will be shown, even though Himes seemed to temper the extremism of the earlier movement with sociological and voluntaristic language, there was little actual change in the ultimate goals of his agenda regardless of the apparent switch to democratic eugenics.
{"title":"Norman Edwin Himes's \"Eugenics and Democracy: A Call to Action\" (1939). The Eugenic Manifesto of a Devote Carverian","authors":"L. Fiorito, Valentina Erasmo","doi":"10.3280/spe2022-002002","DOIUrl":"https://doi.org/10.3280/spe2022-002002","url":null,"abstract":"This note presents an unpublished 1939 address given by the American sociologist and population specialist Norman Edwin Himes on \"Eugenics and Democracy: A Call to Action. Himes's discussion of eugenics and democracy has a two-fold relevance. First, it provides further evidence that among population studies specialists a generalized commitment to eugenics persisted well beyond the era of the so-called Progressive Era and continued throughout the 1930s. Second, Himes's approach reveals an attempt to reformulate a eugenic agenda along \"liberal\" lines, which was intended to distance him from the coercive and racialist approach of his progressive predecessors. Yet, it will be shown, even though Himes seemed to temper the extremism of the earlier movement with sociological and voluntaristic language, there was little actual change in the ultimate goals of his agenda regardless of the apparent switch to democratic eugenics.","PeriodicalId":40401,"journal":{"name":"History of Economic Thought and Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42315425","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}
The theories of progressive income taxation developed in the Italian debate of the last century have been discussed in depth in a review article by Domenican-tonio Fausto (2008). Italian economists have taken an active part in the debate on the progressive taxation of income and wealth. In general, despite a few oppo-nents, the idea of progressive taxation is agreed upon for political and social rea-sons. In this broad debate on progressivity developed in Italy, there is also an ana-lytical path that Fausto's article does not consider. The first mathematical contri-bution on this topic was put forward by Tullio Martello in his polemic book against the progressive tax, La progressività in teoria e in pratica (1895). The debate was concluded in the 1950s by a mathematical economist and follower of Pareto, Raf-faele D'Addario. D'Addario is worth considering because he explicitly introduced the revenue curve. The decreasing part is well known today as the Laffer curve.
Domenican tonio Fausto（2008）在一篇评论文章中对上个世纪意大利辩论中发展起来的累进所得税理论进行了深入讨论。意大利经济学家积极参与了关于收入和财富累进税的辩论。总的来说，尽管有一些反对者，但累进税的想法是出于政治和社会原因而达成的。在意大利发展起来的这场关于进步性的广泛辩论中，还有一条福斯托的文章没有考虑的分析路径。关于这一主题的第一个数学贡献是由Tullio Martello在其反对累进税的论战性著作《实践中的进步》（La progressivitàin teoria e in pratica，1895）中提出的。20世纪50年代，数学经济学家、帕累托的追随者Raf faele D’Addario结束了这场辩论。达达里奥值得考虑，因为他明确引入了收入曲线。递减部分今天被称为拉弗曲线。
{"title":"The Early Invention of the so-called Laffer Curve and the Mathematics of the Progressive Tax in the Italian Tradition","authors":"M. Pomini","doi":"10.3280/spe2022-002003","DOIUrl":"https://doi.org/10.3280/spe2022-002003","url":null,"abstract":"The theories of progressive income taxation developed in the Italian debate of the last century have been discussed in depth in a review article by Domenican-tonio Fausto (2008). Italian economists have taken an active part in the debate on the progressive taxation of income and wealth. In general, despite a few oppo-nents, the idea of progressive taxation is agreed upon for political and social rea-sons. In this broad debate on progressivity developed in Italy, there is also an ana-lytical path that Fausto's article does not consider. The first mathematical contri-bution on this topic was put forward by Tullio Martello in his polemic book against the progressive tax, La progressività in teoria e in pratica (1895). The debate was concluded in the 1950s by a mathematical economist and follower of Pareto, Raf-faele D'Addario. D'Addario is worth considering because he explicitly introduced the revenue curve. The decreasing part is well known today as the Laffer curve.","PeriodicalId":40401,"journal":{"name":"History of Economic Thought and Policy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43226169","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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