Pub Date : 2022-11-18DOI: 10.1177/04866134221130121
John Lepley
{"title":"Book Review: Labor in the Age of Finance: Pensions, Politics, and Corporations from Deindustrialization to Dodd-Frank","authors":"John Lepley","doi":"10.1177/04866134221130121","DOIUrl":"https://doi.org/10.1177/04866134221130121","url":null,"abstract":"","PeriodicalId":46719,"journal":{"name":"Review of Radical Political Economics","volume":"5 1","pages":"355 - 358"},"PeriodicalIF":1.3,"publicationDate":"2022-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82806907","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-13DOI: 10.1177/04866134221123626
Ron Baiman
We are facing both a short-term emergency cooling crisis and a long-term greenhouse gas (GHG) draw down planetary ecological crisis. We must address both. The first requires emergency direct cooling, or temporary “triage” or a “tourniquet, for our bleeding planet.” The second requires rapid GHG emissions reductions and draw down and natural planetary regeneration that realistically will take at least a few decades and may take a century or more. Conflating the challenge and opportunity of the second crisis with a response to the first crisis will not produce a rapid and credible global response to the second crisis because of structural economic inequity and fossil fuel dependency that is deeply embedded in the current global economy. Realistically, we need emergency direct climate cooling to address the first crisis and a long-term binding global cap and trade emissions trading system to address the second. The Florin proposal that conditions Stratospheric Aerosol Injection (SAI) direct climate cooling on credible GHG emissions and draw down is a step in the right direction, but omits other direct climate cooling methods and effectively makes the deployment of SAI contingent on a global emissions trading system (ETS) that may not be possible before the deployment of SAI becomes necessary. Rather than conflating our two climate crises, or conditioning the solution of the first on a solution to the second, we need to address both on an emergency basis by putting all options on the table as called for in the Healthy Planet Action Coalition (HPAC) proposal. JEL Classification: Q54, Q55, Q56, Q57, Q58
{"title":"Our Two Climate Crises Challenge: Short-Run Emergency Direct Climate Cooling and Long-Run GHG Removal and Ecological Regeneration","authors":"Ron Baiman","doi":"10.1177/04866134221123626","DOIUrl":"https://doi.org/10.1177/04866134221123626","url":null,"abstract":"We are facing both a short-term emergency cooling crisis and a long-term greenhouse gas (GHG) draw down planetary ecological crisis. We must address both. The first requires emergency direct cooling, or temporary “triage” or a “tourniquet, for our bleeding planet.” The second requires rapid GHG emissions reductions and draw down and natural planetary regeneration that realistically will take at least a few decades and may take a century or more. Conflating the challenge and opportunity of the second crisis with a response to the first crisis will not produce a rapid and credible global response to the second crisis because of structural economic inequity and fossil fuel dependency that is deeply embedded in the current global economy. Realistically, we need emergency direct climate cooling to address the first crisis and a long-term binding global cap and trade emissions trading system to address the second. The Florin proposal that conditions Stratospheric Aerosol Injection (SAI) direct climate cooling on credible GHG emissions and draw down is a step in the right direction, but omits other direct climate cooling methods and effectively makes the deployment of SAI contingent on a global emissions trading system (ETS) that may not be possible before the deployment of SAI becomes necessary. Rather than conflating our two climate crises, or conditioning the solution of the first on a solution to the second, we need to address both on an emergency basis by putting all options on the table as called for in the Healthy Planet Action Coalition (HPAC) proposal. JEL Classification: Q54, Q55, Q56, Q57, Q58","PeriodicalId":46719,"journal":{"name":"Review of Radical Political Economics","volume":"25 1","pages":"435 - 451"},"PeriodicalIF":1.3,"publicationDate":"2022-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83286156","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-11-05DOI: 10.1177/04866134221131329
David Barkin
JEL Classification: B32, B50
JEL分类:B32、B50
{"title":"Appreciating Michael Perelman","authors":"David Barkin","doi":"10.1177/04866134221131329","DOIUrl":"https://doi.org/10.1177/04866134221131329","url":null,"abstract":"JEL Classification: B32, B50","PeriodicalId":46719,"journal":{"name":"Review of Radical Political Economics","volume":"22 1","pages":"587 - 590"},"PeriodicalIF":1.3,"publicationDate":"2022-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83732240","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-25DOI: 10.1177/04866134221130801
Sabri Öncü
JEL Classification: B32, B50
JEL分类:B32、B50
{"title":"Michael Perelman and the Economics of Nonprivate Goods","authors":"Sabri Öncü","doi":"10.1177/04866134221130801","DOIUrl":"https://doi.org/10.1177/04866134221130801","url":null,"abstract":"JEL Classification: B32, B50","PeriodicalId":46719,"journal":{"name":"Review of Radical Political Economics","volume":"43 1","pages":"591 - 597"},"PeriodicalIF":1.3,"publicationDate":"2022-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89490923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-17DOI: 10.1177/04866134221123817
Smriti Rao, Smita Ramnarain
The COVID-19 pandemic has underscored the importance of social protection programs such as India’s Mahatma Gandhi National Rural Employment Guarantee Act (NREGA). And yet, acute crises such as pandemics are layered upon existing inequalities of gender and caste in India. We show that a distinctive feature of twenty-first-century Indian capitalism is a restructuring of the caste-gender division of labor in rural India, such that women’s unpaid labor of social reproduction has increased, particularly for women from marginalized castes. Thus, patterns of participation in NREGA cannot be understood without understanding the specifics of the underlying crisis of social reproduction for labor. Social protection programs that do not consider the labor of social reproduction and are unaccompanied by broader socialization of such labor then likely fall short of mitigating deep-rooted inequalities. JEL Classification: B54, J21, J88
{"title":"Gender, Social Protection, and Crises of Social Reproduction: Contextualizing NREGA","authors":"Smriti Rao, Smita Ramnarain","doi":"10.1177/04866134221123817","DOIUrl":"https://doi.org/10.1177/04866134221123817","url":null,"abstract":"The COVID-19 pandemic has underscored the importance of social protection programs such as India’s Mahatma Gandhi National Rural Employment Guarantee Act (NREGA). And yet, acute crises such as pandemics are layered upon existing inequalities of gender and caste in India. We show that a distinctive feature of twenty-first-century Indian capitalism is a restructuring of the caste-gender division of labor in rural India, such that women’s unpaid labor of social reproduction has increased, particularly for women from marginalized castes. Thus, patterns of participation in NREGA cannot be understood without understanding the specifics of the underlying crisis of social reproduction for labor. Social protection programs that do not consider the labor of social reproduction and are unaccompanied by broader socialization of such labor then likely fall short of mitigating deep-rooted inequalities. JEL Classification: B54, J21, J88","PeriodicalId":46719,"journal":{"name":"Review of Radical Political Economics","volume":"12 1","pages":"70 - 92"},"PeriodicalIF":1.3,"publicationDate":"2022-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77175206","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-29DOI: 10.1177/04866134221118653
Henrique Morrone, A. Marquetti, A. Miebach
This article employs Miyazawa’s method to investigate the interaction between productive and unproductive sectors during the 2002–2014 period in Brazil. The results showed a growing dependence of productive on unproductive sectors together with a rise in the unproductive share in the economy, particularly after 2008. Our findings stressed the relationship between the rising importance of unproductive industries and lower total output growth, as emphasized by the classical-Marxian literature. JEL Classification: B51, C67, P16
{"title":"Productive and Unproductive Sectors’ Interactions in Brazil: A Miyazawa Analysis","authors":"Henrique Morrone, A. Marquetti, A. Miebach","doi":"10.1177/04866134221118653","DOIUrl":"https://doi.org/10.1177/04866134221118653","url":null,"abstract":"This article employs Miyazawa’s method to investigate the interaction between productive and unproductive sectors during the 2002–2014 period in Brazil. The results showed a growing dependence of productive on unproductive sectors together with a rise in the unproductive share in the economy, particularly after 2008. Our findings stressed the relationship between the rising importance of unproductive industries and lower total output growth, as emphasized by the classical-Marxian literature. JEL Classification: B51, C67, P16","PeriodicalId":46719,"journal":{"name":"Review of Radical Political Economics","volume":"122 1","pages":"251 - 268"},"PeriodicalIF":1.3,"publicationDate":"2022-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76840906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-22DOI: 10.1177/04866134221119258
A. Ząbkowicz
Pension reforms tend toward privatization of fund management, capitalization of savings, and redistribution of risk. An overview of reforms in the opening section identifies the course of the institutional change in Germany and in Poland, which can be broadly associated with Western European and Eastern European types of pension design, respectively. The second section offers a methodical insight in interests of four parties of the game, that is, the government, financial sector, nonfinancial companies, and trade unions, as well as prospective pensioners or actual retirees. The major section provides a review of arguments in favor of pension funding, drawing from media debates, and official announcements, with the aim to identify the rationale for pension funding. Next, it considers how this logical position is related to specific material interests. JEL Classification: B52, P16, P52
{"title":"Four Sides of the Coin: The Interplay of Interests in German and Polish Pension Industries","authors":"A. Ząbkowicz","doi":"10.1177/04866134221119258","DOIUrl":"https://doi.org/10.1177/04866134221119258","url":null,"abstract":"Pension reforms tend toward privatization of fund management, capitalization of savings, and redistribution of risk. An overview of reforms in the opening section identifies the course of the institutional change in Germany and in Poland, which can be broadly associated with Western European and Eastern European types of pension design, respectively. The second section offers a methodical insight in interests of four parties of the game, that is, the government, financial sector, nonfinancial companies, and trade unions, as well as prospective pensioners or actual retirees. The major section provides a review of arguments in favor of pension funding, drawing from media debates, and official announcements, with the aim to identify the rationale for pension funding. Next, it considers how this logical position is related to specific material interests. JEL Classification: B52, P16, P52","PeriodicalId":46719,"journal":{"name":"Review of Radical Political Economics","volume":"1 1","pages":"269 - 289"},"PeriodicalIF":1.3,"publicationDate":"2022-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73114068","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-22DOI: 10.1177/04866134221123627
Srishti Yadav
This article reviews three veins of contributions on contemporary petty commodity production in Marxian political economy, with reference to India. Through a comparative analysis of the works of Henry Bernstein, Kalyan Sanyal, and Barbara Harriss-White, the article maps areas of commonality and contestation between the three theoretical constructions and makes a case for the merits of Harriss-White’s framework over others. JEL Classification: B510, O170
{"title":"Reviewing Petty Commodity Production: Toward a Unified Marxist Conception","authors":"Srishti Yadav","doi":"10.1177/04866134221123627","DOIUrl":"https://doi.org/10.1177/04866134221123627","url":null,"abstract":"This article reviews three veins of contributions on contemporary petty commodity production in Marxian political economy, with reference to India. Through a comparative analysis of the works of Henry Bernstein, Kalyan Sanyal, and Barbara Harriss-White, the article maps areas of commonality and contestation between the three theoretical constructions and makes a case for the merits of Harriss-White’s framework over others. JEL Classification: B510, O170","PeriodicalId":46719,"journal":{"name":"Review of Radical Political Economics","volume":"7 1","pages":"411 - 419"},"PeriodicalIF":1.3,"publicationDate":"2022-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75223053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-21DOI: 10.1177/04866134221115905
D. Basu
This article develops a simple theoretical model to analyze Marx’s theory of ground rent. Using the model, I demonstrate two important results. First, if we take capital outlay as exogenously given, then total ground rent can be decomposed into the three components: differential rent of the first variety (DRI), differential rent of the second variety (DRII), and absolute rent (AR). Second, if we let the amount of capital outlay on each plot of land be determined by the profit-maximizing behavior of capitalist farmers, then absolute rent becomes zero. Neither the low organic composition of capital nor the monopoly power of the class of landlords can generate any absolute rent. I conclude that under reasonable behavioral assumptions about landlords and capitalist farmers, there will be no absolute rent in a capitalist economy. JEL Classification: B51
{"title":"A Reformulated Version of Marx’s Theory of Ground Rent Shows That There Cannot Be Any Absolute Rent","authors":"D. Basu","doi":"10.1177/04866134221115905","DOIUrl":"https://doi.org/10.1177/04866134221115905","url":null,"abstract":"This article develops a simple theoretical model to analyze Marx’s theory of ground rent. Using the model, I demonstrate two important results. First, if we take capital outlay as exogenously given, then total ground rent can be decomposed into the three components: differential rent of the first variety (DRI), differential rent of the second variety (DRII), and absolute rent (AR). Second, if we let the amount of capital outlay on each plot of land be determined by the profit-maximizing behavior of capitalist farmers, then absolute rent becomes zero. Neither the low organic composition of capital nor the monopoly power of the class of landlords can generate any absolute rent. I conclude that under reasonable behavioral assumptions about landlords and capitalist farmers, there will be no absolute rent in a capitalist economy. JEL Classification: B51","PeriodicalId":46719,"journal":{"name":"Review of Radical Political Economics","volume":"102 1","pages":"542 - 567"},"PeriodicalIF":1.3,"publicationDate":"2022-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86088211","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-02DOI: 10.1177/04866134221103621
Al Campbell, Erdogan Bakir
Starting from the two correct positions that, compared to the form of capitalism that preceded it, neoliberal capitalism has generally been more harmful to working people, and that in it finance plays a greater role in both scale and scope, some political economists argue that in neoliberalism financial capital is parasitic on nonfinancial (or “productive,” or “industrial”) capital. The central argument of this article is that, to the contrary, financial capital serves all capital through the various ways that it allows for neoliberalism to increase its appropriation of surplus value. To concretely support this position, the article considers a particular financial relation, debt, and indicates seven specific ways debt expansion facilitates neoliberalism’s pursuit of increased appropriation of surplus value. Secondarily, this article rejects any stated or implied policy implications from the parasitic financial capital thesis that present “productive capitalism” as the desirable alternative to the deleterious effects of financialized capitalism. JEL Classification: G00, G51, H63
{"title":"Financialization and Debt: Much Worse Than Parasites","authors":"Al Campbell, Erdogan Bakir","doi":"10.1177/04866134221103621","DOIUrl":"https://doi.org/10.1177/04866134221103621","url":null,"abstract":"Starting from the two correct positions that, compared to the form of capitalism that preceded it, neoliberal capitalism has generally been more harmful to working people, and that in it finance plays a greater role in both scale and scope, some political economists argue that in neoliberalism financial capital is parasitic on nonfinancial (or “productive,” or “industrial”) capital. The central argument of this article is that, to the contrary, financial capital serves all capital through the various ways that it allows for neoliberalism to increase its appropriation of surplus value. To concretely support this position, the article considers a particular financial relation, debt, and indicates seven specific ways debt expansion facilitates neoliberalism’s pursuit of increased appropriation of surplus value. Secondarily, this article rejects any stated or implied policy implications from the parasitic financial capital thesis that present “productive capitalism” as the desirable alternative to the deleterious effects of financialized capitalism. JEL Classification: G00, G51, H63","PeriodicalId":46719,"journal":{"name":"Review of Radical Political Economics","volume":"119 1","pages":"452 - 460"},"PeriodicalIF":1.3,"publicationDate":"2022-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77166540","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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