Pub Date : 2023-09-10DOI: 10.1080/13563467.2023.2254727
Tom Haines-Doran
This paper investigates the growth of new forms of personal finance used in purchasing motor vehicles – a development which it characterises as ‘financialisation’. It focusses on the case of the rise of the personal contract purchase (PCP) in the United Kingdom market, and seeks to account for its growing popularity, and potential implications. It is found that the rise of PCPs is best understood as a form of financial innovation designed to help car manufacturers overcome long-term profit realisation problems produced by market saturation in mature markets. The way PCPs are structured lowers consumers’ monthly finance payments, allowing them to access to higher value vehicles, and encourages more frequent purchases of new vehicles, all of which allows greater manufacturer profit realisation. However, it does so in a way which increases financial risk, to consumers, car manufacturers, and financial investors. On the other hand, manufacturers’ risk exposure is limited by how the consumers’ car dependency lowers expected default rates. PCPs threaten financial stability, as well as sustaining social and environmentally unsustainable consumption practices.
{"title":"The financialisation of car consumption","authors":"Tom Haines-Doran","doi":"10.1080/13563467.2023.2254727","DOIUrl":"https://doi.org/10.1080/13563467.2023.2254727","url":null,"abstract":"This paper investigates the growth of new forms of personal finance used in purchasing motor vehicles – a development which it characterises as ‘financialisation’. It focusses on the case of the rise of the personal contract purchase (PCP) in the United Kingdom market, and seeks to account for its growing popularity, and potential implications. It is found that the rise of PCPs is best understood as a form of financial innovation designed to help car manufacturers overcome long-term profit realisation problems produced by market saturation in mature markets. The way PCPs are structured lowers consumers’ monthly finance payments, allowing them to access to higher value vehicles, and encourages more frequent purchases of new vehicles, all of which allows greater manufacturer profit realisation. However, it does so in a way which increases financial risk, to consumers, car manufacturers, and financial investors. On the other hand, manufacturers’ risk exposure is limited by how the consumers’ car dependency lowers expected default rates. PCPs threaten financial stability, as well as sustaining social and environmentally unsustainable consumption practices.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136072213","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}
Pub Date : 2023-09-06DOI: 10.1080/13563467.2023.2254712
James Hickson
{"title":"Freedom, domination and the gig economy","authors":"James Hickson","doi":"10.1080/13563467.2023.2254712","DOIUrl":"https://doi.org/10.1080/13563467.2023.2254712","url":null,"abstract":"","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":null,"pages":null},"PeriodicalIF":4.2,"publicationDate":"2023-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45981954","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}
Pub Date : 2023-08-10DOI: 10.1080/13563467.2023.2244448
Ania Plomien, Gregory Schwartz
What are the processes and consequences of markets reaching deeper into social reproduction? How do these developments, in the context of Europeanisation underpinned by neoliberalisation and transnationalisation, compel labour mobility? To consider these questions we apply social reproduction theory and the framework of uneven and combined accumulation of capital in Europe to the analysis of the UK, Poland and Ukraine and their food production, housing construction and care provision sectors. We explore how transformations, in these three countries interconnected by labour mobilities and in these three domains key to social reproduction, not only a ff ect the industries that supply food, housing and care, but, crucially, redraw the contours of social reproduction. Theorising social reproduction as a continuum of market, state and household provisioning, we outline its transformation within the speci fi c constellation of Europeanisation and delineate how mobility is both propelled by and advances market-reach into food, housing and care. We argue that market-driven transnational social reproduction is constituted by contradictions stemming from the deepening subordination of reproductive labour to the law of value, progressively depriving households of the promise of prosperity - a complex process that is made visible by our feminist critique of political economy.
{"title":"Market-reach into social reproduction and transnational labour mobility in Europe","authors":"Ania Plomien, Gregory Schwartz","doi":"10.1080/13563467.2023.2244448","DOIUrl":"https://doi.org/10.1080/13563467.2023.2244448","url":null,"abstract":"What are the processes and consequences of markets reaching deeper into social reproduction? How do these developments, in the context of Europeanisation underpinned by neoliberalisation and transnationalisation, compel labour mobility? To consider these questions we apply social reproduction theory and the framework of uneven and combined accumulation of capital in Europe to the analysis of the UK, Poland and Ukraine and their food production, housing construction and care provision sectors. We explore how transformations, in these three countries interconnected by labour mobilities and in these three domains key to social reproduction, not only a ff ect the industries that supply food, housing and care, but, crucially, redraw the contours of social reproduction. Theorising social reproduction as a continuum of market, state and household provisioning, we outline its transformation within the speci fi c constellation of Europeanisation and delineate how mobility is both propelled by and advances market-reach into food, housing and care. We argue that market-driven transnational social reproduction is constituted by contradictions stemming from the deepening subordination of reproductive labour to the law of value, progressively depriving households of the promise of prosperity - a complex process that is made visible by our feminist critique of political economy.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":null,"pages":null},"PeriodicalIF":4.2,"publicationDate":"2023-08-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45730304","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}
Pub Date : 2023-08-08DOI: 10.1080/13563467.2023.2242796
Nicholas Frank, M. Arthur, S. Friel
{"title":"Shaping planetary health inequities: the political economy of the Australian growth model","authors":"Nicholas Frank, M. Arthur, S. Friel","doi":"10.1080/13563467.2023.2242796","DOIUrl":"https://doi.org/10.1080/13563467.2023.2242796","url":null,"abstract":"","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":null,"pages":null},"PeriodicalIF":4.2,"publicationDate":"2023-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41942191","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}
Pub Date : 2023-08-02DOI: 10.1080/13563467.2023.2242272
Feixia Ling
{"title":"The importance of the English language for the early Engels–a comparison between Engels’ and Marx’s research on English political economic literature before their collaboration","authors":"Feixia Ling","doi":"10.1080/13563467.2023.2242272","DOIUrl":"https://doi.org/10.1080/13563467.2023.2242272","url":null,"abstract":"","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":null,"pages":null},"PeriodicalIF":4.2,"publicationDate":"2023-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49114039","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}
Pub Date : 2023-08-02DOI: 10.1080/13563467.2023.2236944
L. Feltrin, Gabriela Julio Medel
{"title":"Noxious deindustrialisation and extractivism: Quintero-Puchuncaví in the international division of labour and noxiousness","authors":"L. Feltrin, Gabriela Julio Medel","doi":"10.1080/13563467.2023.2236944","DOIUrl":"https://doi.org/10.1080/13563467.2023.2236944","url":null,"abstract":"","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":null,"pages":null},"PeriodicalIF":4.2,"publicationDate":"2023-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47697124","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}
Pub Date : 2023-07-31DOI: 10.1080/13563467.2023.2240237
John Evemy, C. Berry, E. Yates
{"title":"Low interest rates, low productivity, low growth? A multi-sector case study of UK-based firms’ funding and investment strategies in the context of loose monetary policy","authors":"John Evemy, C. Berry, E. Yates","doi":"10.1080/13563467.2023.2240237","DOIUrl":"https://doi.org/10.1080/13563467.2023.2240237","url":null,"abstract":"","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":null,"pages":null},"PeriodicalIF":4.2,"publicationDate":"2023-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42188471","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}
Pub Date : 2023-07-31DOI: 10.1080/13563467.2023.2240236
Sidney A. Rothstein
{"title":"Transnational governance of digital transformation: financing innovation in Europe’s periphery","authors":"Sidney A. Rothstein","doi":"10.1080/13563467.2023.2240236","DOIUrl":"https://doi.org/10.1080/13563467.2023.2240236","url":null,"abstract":"","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":null,"pages":null},"PeriodicalIF":4.2,"publicationDate":"2023-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42219147","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}
Pub Date : 2023-07-25DOI: 10.1080/13563467.2023.2237903
Franco Galdini
{"title":"The transformation of resource-rich countries in the International Division of Labour: ‘backward' industrialisation and relative surplus population in Uzbekistan","authors":"Franco Galdini","doi":"10.1080/13563467.2023.2237903","DOIUrl":"https://doi.org/10.1080/13563467.2023.2237903","url":null,"abstract":"","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":null,"pages":null},"PeriodicalIF":4.2,"publicationDate":"2023-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42084911","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}
Pub Date : 2023-07-24DOI: 10.1080/13563467.2023.2238627
Rodrigo Fagundes Cezar
{"title":"When do business associations want a hard trade-sustainability nexus? A framework of analysis and the EU case","authors":"Rodrigo Fagundes Cezar","doi":"10.1080/13563467.2023.2238627","DOIUrl":"https://doi.org/10.1080/13563467.2023.2238627","url":null,"abstract":"","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":null,"pages":null},"PeriodicalIF":4.2,"publicationDate":"2023-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46243289","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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