Criminal capitalism, fuelled mainly by drug trafficking, creates social consensus and determines a social order that plays a not-always marginal role in the fragmented social reality of the contemporary capitalist mode of production. Drug trafficking not only feeds the sophisticated machine of corruption that reaches the highest institutional spheres, but, in some regions, also represents the only form of subsistence economy. The growing importance of criminal capitalism is in large part the consequence of financial liberalisation, which has facilitated the mechanisms for the laundering and illegal investment of accumulated wealth.
{"title":"Criminal capitalism: a new socio-economic formation","authors":"Rosario Patalano","doi":"10.1093/cje/bead051","DOIUrl":"https://doi.org/10.1093/cje/bead051","url":null,"abstract":"Criminal capitalism, fuelled mainly by drug trafficking, creates social consensus and determines a social order that plays a not-always marginal role in the fragmented social reality of the contemporary capitalist mode of production. Drug trafficking not only feeds the sophisticated machine of corruption that reaches the highest institutional spheres, but, in some regions, also represents the only form of subsistence economy. The growing importance of criminal capitalism is in large part the consequence of financial liberalisation, which has facilitated the mechanisms for the laundering and illegal investment of accumulated wealth.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":"10 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2023-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139057065","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Since the 1980s, working hours have tended to become more diverse and flexible. These developments impact not only the possibilities of synchronising social time but also pay levels. Duration indicators become less relevant, since they disconnect the time worked and paid from the impact of the work on employees’ lives. The objective of this paper is to analyse the effects of this disconnection by measuring the fragmentation of the working day. We propose an indicator of ‘density of daily working time’ which links two specific durations (the extent of the working day and the average daily duration of working). This indicator shows that a low density of the working day makes it possible to circumvent the minimum wage principle, particularly in the case of lower-skilled service occupations. These results raise questions about how working time is measured and about its regulation.
{"title":"Long day for few hours: impact of working time fragmentation on low wages in France","authors":"François-Xavier Devetter, Julie Valentin","doi":"10.1093/cje/bead048","DOIUrl":"https://doi.org/10.1093/cje/bead048","url":null,"abstract":"Since the 1980s, working hours have tended to become more diverse and flexible. These developments impact not only the possibilities of synchronising social time but also pay levels. Duration indicators become less relevant, since they disconnect the time worked and paid from the impact of the work on employees’ lives. The objective of this paper is to analyse the effects of this disconnection by measuring the fragmentation of the working day. We propose an indicator of ‘density of daily working time’ which links two specific durations (the extent of the working day and the average daily duration of working). This indicator shows that a low density of the working day makes it possible to circumvent the minimum wage principle, particularly in the case of lower-skilled service occupations. These results raise questions about how working time is measured and about its regulation.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":"13 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138537753","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Celebrating the 120th anniversary of Joan Violet Robinson: Her Lessons for Today","authors":"","doi":"10.1093/cje/bead047","DOIUrl":"https://doi.org/10.1093/cje/bead047","url":null,"abstract":"","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":"31 24","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135873125","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This article examines the intensification and extensification of working time among IT workers. As standardised hours have become increasingly eroded, understanding the nuanced experience of re-configured working time becomes vital. Informed by conceptual distinctions between clock time, process time and tertiary time, this study investigates how working time is constituted among, and experienced by, two distinct IT occupational categories: support workers and mobile apps developers. Theorising experiences of working time with recourse to distinct logics of production, which encompass and reflect labour markets, new technology product markets and occupational communities, illuminates how working time experiences are shaped. This facilitates an explanation of the underlying dynamics that surround the interaction between the three concepts of time, which advances our understanding of intensification and extensification.
{"title":"Experiences of working time intensification and extensification: examining the influence of logics of production in IT work","authors":"Debra Howcroft, Phil Taylor","doi":"10.1093/cje/bead043","DOIUrl":"https://doi.org/10.1093/cje/bead043","url":null,"abstract":"Abstract This article examines the intensification and extensification of working time among IT workers. As standardised hours have become increasingly eroded, understanding the nuanced experience of re-configured working time becomes vital. Informed by conceptual distinctions between clock time, process time and tertiary time, this study investigates how working time is constituted among, and experienced by, two distinct IT occupational categories: support workers and mobile apps developers. Theorising experiences of working time with recourse to distinct logics of production, which encompass and reflect labour markets, new technology product markets and occupational communities, illuminates how working time experiences are shaped. This facilitates an explanation of the underlying dynamics that surround the interaction between the three concepts of time, which advances our understanding of intensification and extensification.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":"133 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135976685","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This paper re-examines the different visions of the future of working time offered by Marx and Keynes. While Marx and Keynes differed radically on some fundamental matters, they agreed that society would benefit from reducing work time. The idea of society using technology to curtail work hours was a central aspect of their respective visions of a better future. The paper compares Marx’s and Keynes’s visions. It also considers the fate of their visions as well as their relevance for modern debates on the future of work. The conclusion is that a critical political economy can learn from the different ideas of Marx and Keynes in supporting the case for reducing work hours in the present.
{"title":"Marx, Keynes and the future of working time","authors":"David A Spencer","doi":"10.1093/cje/bead046","DOIUrl":"https://doi.org/10.1093/cje/bead046","url":null,"abstract":"Abstract This paper re-examines the different visions of the future of working time offered by Marx and Keynes. While Marx and Keynes differed radically on some fundamental matters, they agreed that society would benefit from reducing work time. The idea of society using technology to curtail work hours was a central aspect of their respective visions of a better future. The paper compares Marx’s and Keynes’s visions. It also considers the fate of their visions as well as their relevance for modern debates on the future of work. The conclusion is that a critical political economy can learn from the different ideas of Marx and Keynes in supporting the case for reducing work hours in the present.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":"51 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136104887","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This note starts from Hodgson’s (2023) thorough review and critique of Guild Socialism and argues that his proposed way forward—a decentralised producer cooperative sector embedded in a competitive market economy—is likely to be a political impossibility. A political economy model of a system of labour-managed firms is outlined which shows that laissez-faire on investment decisions is likely to be outvoted by a capital tax/subsidy scheme that redistributes income from rich coops to poor coops.
{"title":"The way forward from Guild Socialism: a comment on Hodgson","authors":"Mario Ferrero","doi":"10.1093/cje/bead045","DOIUrl":"https://doi.org/10.1093/cje/bead045","url":null,"abstract":"Abstract This note starts from Hodgson’s (2023) thorough review and critique of Guild Socialism and argues that his proposed way forward—a decentralised producer cooperative sector embedded in a competitive market economy—is likely to be a political impossibility. A political economy model of a system of labour-managed firms is outlined which shows that laissez-faire on investment decisions is likely to be outvoted by a capital tax/subsidy scheme that redistributes income from rich coops to poor coops.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":"C-32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134973332","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The paper compares stock-flow consistent (SFC) versions of extended canonical neo-Kaleckian and Supermultiplier models that deal with either households’ or firms’ debt accumulation. This comparison aims are twofold: (i) to evaluate the differences of a debt accumulation process in these models due to their specific closures; (ii) to provide a pedagogical tool for understanding the basic features of each model when dealing with similar issues. In the short run, we find that the relation of debt ratios, demand and growth is similar for both models. In the long run of the Supemultiplier model, only the Minskyan debt regime is economically viable for the firms’ sector. As for the household sector, the paradox of debt is indeed a feature of the canonical Supermultiplier model, yet there may be episodes of rising debt-to-income ratios. As for the neo-Kaleckian model, firms’ leverage ratio can be either pro- or anti-cyclical; in the household sector, the absence of the paradox of debt seems to be the most likely scenario.
{"title":"Debt and demand regimes in simplified growth models: a comparison of neo-Kaleckian and Supermultiplier models","authors":"Lídia Brochier, Fabio Freitas","doi":"10.1093/cje/bead033","DOIUrl":"https://doi.org/10.1093/cje/bead033","url":null,"abstract":"Abstract The paper compares stock-flow consistent (SFC) versions of extended canonical neo-Kaleckian and Supermultiplier models that deal with either households’ or firms’ debt accumulation. This comparison aims are twofold: (i) to evaluate the differences of a debt accumulation process in these models due to their specific closures; (ii) to provide a pedagogical tool for understanding the basic features of each model when dealing with similar issues. In the short run, we find that the relation of debt ratios, demand and growth is similar for both models. In the long run of the Supemultiplier model, only the Minskyan debt regime is economically viable for the firms’ sector. As for the household sector, the paradox of debt is indeed a feature of the canonical Supermultiplier model, yet there may be episodes of rising debt-to-income ratios. As for the neo-Kaleckian model, firms’ leverage ratio can be either pro- or anti-cyclical; in the household sector, the absence of the paradox of debt seems to be the most likely scenario.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":"36 1-2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135461699","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract In this article, we analyse platform-mediated work on the basis of the results of a qualitative study conducted in Argentina in the areas of delivery services and design. The guiding question of this research is how digital work processes change the relationship between paid and unpaid working times. To answer this question, we examine the remuneration system of two types of platforms, and we identify different forms of unpaid labour time in platform-mediated work. Two main conclusions arise from this analysis. On the one hand, we argue that platforms tend to legitimise some forms of unpaid labour time to the extent that workers assume them to be non-working time. On the other hand, we show that platform workers apply different strategies to try to include some of these forms of unpaid labour time in their final income.
{"title":"Technology and remuneration of working time: a study on paid and unpaid working time in platform work","authors":"Mariana Fernández Massi, Julieta Longo","doi":"10.1093/cje/bead041","DOIUrl":"https://doi.org/10.1093/cje/bead041","url":null,"abstract":"Abstract In this article, we analyse platform-mediated work on the basis of the results of a qualitative study conducted in Argentina in the areas of delivery services and design. The guiding question of this research is how digital work processes change the relationship between paid and unpaid working times. To answer this question, we examine the remuneration system of two types of platforms, and we identify different forms of unpaid labour time in platform-mediated work. Two main conclusions arise from this analysis. On the one hand, we argue that platforms tend to legitimise some forms of unpaid labour time to the extent that workers assume them to be non-working time. On the other hand, we show that platform workers apply different strategies to try to include some of these forms of unpaid labour time in their final income.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":"1 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135568181","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This article challenges positive views of the assumed relationships between skills, productivity and rewards in self-employed digital freelancing. It suggests that the upfront investments made by freelancers to build up positive platform ratings are not necessarily recouped in the form of increased autonomy, guaranteed work or more lucrative ‘gigs’. Drawing on 38 autobiographical narrative interviews and 12 audio working diaries with diverse online freelancers in Europe, we show how the low barriers to enter platform work provide opportunities for those with limited work experience and other commitments outside of work. However, the intense competition between an ever-expanding pool of (both skilled and unskilled) task freelancers within ‘digital tournaments’ results in the colonisation of worker’s free time, and the normalisation of unpaid labour. This implies that ‘free time’ for freelancers is largely an illusion. Furthermore, the significant ‘sunk costs’ that freelancers make in terms of time, platform-specific skills, reputation and networks are not fully recovered and cannot be transferred to other platforms.
{"title":"‘Digital Tournaments’: the colonisation of freelancers’ ‘free’ time and unpaid labour in the online platform economy","authors":"Valeria Pulignano, Stefania Marino, Mathew Johnson, Markieta Domecka, Me-Linh Riemann","doi":"10.1093/cje/bead042","DOIUrl":"https://doi.org/10.1093/cje/bead042","url":null,"abstract":"Abstract This article challenges positive views of the assumed relationships between skills, productivity and rewards in self-employed digital freelancing. It suggests that the upfront investments made by freelancers to build up positive platform ratings are not necessarily recouped in the form of increased autonomy, guaranteed work or more lucrative ‘gigs’. Drawing on 38 autobiographical narrative interviews and 12 audio working diaries with diverse online freelancers in Europe, we show how the low barriers to enter platform work provide opportunities for those with limited work experience and other commitments outside of work. However, the intense competition between an ever-expanding pool of (both skilled and unskilled) task freelancers within ‘digital tournaments’ results in the colonisation of worker’s free time, and the normalisation of unpaid labour. This implies that ‘free time’ for freelancers is largely an illusion. Furthermore, the significant ‘sunk costs’ that freelancers make in terms of time, platform-specific skills, reputation and networks are not fully recovered and cannot be transferred to other platforms.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135729215","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Advocates of Job Guarantee (JG) or Employer of Last Resort (ELR) schemes have suggested that if the state provides ‘buffer stock’ employment to workers displaced from private employment, then full employment can be maintained over the course of the business cycle. Kalecki was sceptical about the prospects for maintaining full employment in capitalist economies, without fundamental institutional change that would alleviate certain political constraints. We argue that in and of themselves, JG/ELR schemes do not create the fundamental institutional change required to address Kalecki’s concerns and so ensure that full employment becomes achievable as a permanent state.
{"title":"Political aspects of ‘buffer stock’ employment: a reconsideration","authors":"Peter Kriesler, Joseph Halevi, Mark Setterfield","doi":"10.1093/cje/bead039","DOIUrl":"https://doi.org/10.1093/cje/bead039","url":null,"abstract":"Abstract Advocates of Job Guarantee (JG) or Employer of Last Resort (ELR) schemes have suggested that if the state provides ‘buffer stock’ employment to workers displaced from private employment, then full employment can be maintained over the course of the business cycle. Kalecki was sceptical about the prospects for maintaining full employment in capitalist economies, without fundamental institutional change that would alleviate certain political constraints. We argue that in and of themselves, JG/ELR schemes do not create the fundamental institutional change required to address Kalecki’s concerns and so ensure that full employment becomes achievable as a permanent state.","PeriodicalId":48156,"journal":{"name":"Cambridge Journal of Economics","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135805167","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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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