Pub Date : 2023-01-02DOI: 10.1080/13563467.2022.2084519
E. Klein
ABSTRACT The writings of TH Marshall, Esping Anderson and other welfare state scholars have been concerned with class-based inequalities bought about through capitalism. Yet the focus on exploitation of labour overlooks racialised and gendered inequalities bought about through historic and contemporary processes of expropriation also inherent in capitalism. In this paper, I argue that addressing processes of expropriation are fundamental to the political economy of the welfare state and propose a reparative way of thinking to transform the welfare state. Drawing on insights from the transformative reparation literature, I outline three modes of transformation – unsettling accumulation by dispossession, disrupting dehumanising subjectivities and supporting pluriversal possibilities as processes to transform the structures that uphold expropriation and the welfare state.
{"title":"Towards a reparative welfare state","authors":"E. Klein","doi":"10.1080/13563467.2022.2084519","DOIUrl":"https://doi.org/10.1080/13563467.2022.2084519","url":null,"abstract":"ABSTRACT The writings of TH Marshall, Esping Anderson and other welfare state scholars have been concerned with class-based inequalities bought about through capitalism. Yet the focus on exploitation of labour overlooks racialised and gendered inequalities bought about through historic and contemporary processes of expropriation also inherent in capitalism. In this paper, I argue that addressing processes of expropriation are fundamental to the political economy of the welfare state and propose a reparative way of thinking to transform the welfare state. Drawing on insights from the transformative reparation literature, I outline three modes of transformation – unsettling accumulation by dispossession, disrupting dehumanising subjectivities and supporting pluriversal possibilities as processes to transform the structures that uphold expropriation and the welfare state.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"126 - 141"},"PeriodicalIF":4.2,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45986547","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 : 2023-01-02DOI: 10.1080/13563467.2022.2162869
Jérôme Deyris
ABSTRACT In its 2021 strategy review, the European Central Bank's Governing Council unanimously decided to make climate change one of its priorities for the coming years. In this article, we try to understand how this change was achieved. To do so, we rely on mixed methods, studying ECB policies, speeches, exchanges with the European Parliament, and conducting semi-structured interviews. We present a detailed account of the rapid changes within the ECB regarding the climate challenge, and attempt to unpack its conditions of possibility. We show that climate integration results from the combination and hybridisation of internal dynamics and external pressures. On the one hand, the renewal of the Executive Board and modifications in organisational dynamics secured a growing coalition for a change. On the other, pressures from politicians, NGOs, academics and citizens pushed the institution to develop its expertise and provided willing insiders with further argumentative resources to push their green agenda. While these two intertwined dynamics have allowed ‘green doves’ to forge a consensus around the climate action plan, disagreements remain within the Governing Council on the scope and shape of future greening efforts.
{"title":"Too green to be true? Forging a climate consensus at the European Central Bank","authors":"Jérôme Deyris","doi":"10.1080/13563467.2022.2162869","DOIUrl":"https://doi.org/10.1080/13563467.2022.2162869","url":null,"abstract":"ABSTRACT In its 2021 strategy review, the European Central Bank's Governing Council unanimously decided to make climate change one of its priorities for the coming years. In this article, we try to understand how this change was achieved. To do so, we rely on mixed methods, studying ECB policies, speeches, exchanges with the European Parliament, and conducting semi-structured interviews. We present a detailed account of the rapid changes within the ECB regarding the climate challenge, and attempt to unpack its conditions of possibility. We show that climate integration results from the combination and hybridisation of internal dynamics and external pressures. On the one hand, the renewal of the Executive Board and modifications in organisational dynamics secured a growing coalition for a change. On the other, pressures from politicians, NGOs, academics and citizens pushed the institution to develop its expertise and provided willing insiders with further argumentative resources to push their green agenda. While these two intertwined dynamics have allowed ‘green doves’ to forge a consensus around the climate action plan, disagreements remain within the Governing Council on the scope and shape of future greening efforts.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"713 - 730"},"PeriodicalIF":4.2,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45902165","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 : 2023-01-02DOI: 10.1080/13563467.2022.2084520
A. Santos
ABSTRACT This article puts forward a narrow definition of state financialisation as a mode of governance whereby the state engineers and re-purposes financial tools and markets as instruments of statecraft in such a way that they bestow the financial sector increased infrastructural power. This is taken as a unifying and operational definition that seeks to bring together extant work and motivate more focused research on the transformations occurring within the state at various scales and policy domains. And it is informed by the differentiated positions countries occupy within the world economy that determine the particular subordinate forms that governance through financial markets takes.
{"title":"Conceptualising state financialisation: from the core to the periphery","authors":"A. Santos","doi":"10.1080/13563467.2022.2084520","DOIUrl":"https://doi.org/10.1080/13563467.2022.2084520","url":null,"abstract":"ABSTRACT This article puts forward a narrow definition of state financialisation as a mode of governance whereby the state engineers and re-purposes financial tools and markets as instruments of statecraft in such a way that they bestow the financial sector increased infrastructural power. This is taken as a unifying and operational definition that seeks to bring together extant work and motivate more focused research on the transformations occurring within the state at various scales and policy domains. And it is informed by the differentiated positions countries occupy within the world economy that determine the particular subordinate forms that governance through financial markets takes.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"142 - 154"},"PeriodicalIF":4.2,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47342236","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 : 2022-12-28DOI: 10.1080/13563467.2022.2159354
Jessica Eastland-Underwood
ABSTRACT Building on the burgeoning raced markets literature, I examine the function of markets in colour-blind racism. I argue that ‘the market’ is a useful rhetorical mechanism in everyday political thinking that reproduces white supremacy. To demonstrate this, I look at the work of white supremacist and early American political economist: Thomas Roderick Dew. Focusing on his political economy lectures, I find that the emergent study of markets gave Dew the language to frame the American racial order as the product of natural laws that generate social good. I suggest that the efficacy of his pro-slavery argumentation is contingent on an imbalanced imagination of market histories that over-represents the white experience. Using an un-colourblinding historiography, I amplify the different experiences of Native Americans and enslaved Black Americans as well as challenging the idealisation of the white settler, which exposes the assumptions behind Dew’s pro-slavery rhetoric. Turning to a children’s podcast in the twenty-first century, I reveal how ‘the market’ is a reconfiguration of the same rhetorical strategy, where the white experience is over-represented and idealised, ultimately reproducing the material outcomes of white supremacy: maintaining and deepening the racial wealth divide.
{"title":"The whiteness of markets: Anglo-American colonialism, white supremacy and free market rhetoric","authors":"Jessica Eastland-Underwood","doi":"10.1080/13563467.2022.2159354","DOIUrl":"https://doi.org/10.1080/13563467.2022.2159354","url":null,"abstract":"ABSTRACT Building on the burgeoning raced markets literature, I examine the function of markets in colour-blind racism. I argue that ‘the market’ is a useful rhetorical mechanism in everyday political thinking that reproduces white supremacy. To demonstrate this, I look at the work of white supremacist and early American political economist: Thomas Roderick Dew. Focusing on his political economy lectures, I find that the emergent study of markets gave Dew the language to frame the American racial order as the product of natural laws that generate social good. I suggest that the efficacy of his pro-slavery argumentation is contingent on an imbalanced imagination of market histories that over-represents the white experience. Using an un-colourblinding historiography, I amplify the different experiences of Native Americans and enslaved Black Americans as well as challenging the idealisation of the white settler, which exposes the assumptions behind Dew’s pro-slavery rhetoric. Turning to a children’s podcast in the twenty-first century, I reveal how ‘the market’ is a reconfiguration of the same rhetorical strategy, where the white experience is over-represented and idealised, ultimately reproducing the material outcomes of white supremacy: maintaining and deepening the racial wealth divide.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"662 - 676"},"PeriodicalIF":4.2,"publicationDate":"2022-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41539722","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 : 2022-12-05DOI: 10.1080/13563467.2022.2149721
C. Henderson, Rafeef Ziadah
ABSTRACT A growing body of literature acknowledges that the Gulf Cooperation Council’s demand for food is met through a set of commodity chains that span the regional and global economy. But the development of national corporate food security strategies premised on the consolidation of logistical networks and food commodity chains has not been sufficiently explored. This paper is concerned with the United Arab Emirates’ footprint on the regional and international food regime, and the state’s production as a regional hub for agri-food trade. We trace the ways the UAE’s corporate food security strategy utilises the private sector, agribusiness and logistics firms, alongside military power, to achieve so-called food security. We bring the literature on food regimes and logistics space into dialogue to explore the UAE’s food security policy as a strategy to consolidate power over agro-commodity production and distribution networks.
{"title":"Logistics of the neoliberal food regime: circulation, corporate food security and the United Arab Emirates","authors":"C. Henderson, Rafeef Ziadah","doi":"10.1080/13563467.2022.2149721","DOIUrl":"https://doi.org/10.1080/13563467.2022.2149721","url":null,"abstract":"ABSTRACT A growing body of literature acknowledges that the Gulf Cooperation Council’s demand for food is met through a set of commodity chains that span the regional and global economy. But the development of national corporate food security strategies premised on the consolidation of logistical networks and food commodity chains has not been sufficiently explored. This paper is concerned with the United Arab Emirates’ footprint on the regional and international food regime, and the state’s production as a regional hub for agri-food trade. We trace the ways the UAE’s corporate food security strategy utilises the private sector, agribusiness and logistics firms, alongside military power, to achieve so-called food security. We bring the literature on food regimes and logistics space into dialogue to explore the UAE’s food security policy as a strategy to consolidate power over agro-commodity production and distribution networks.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"592 - 607"},"PeriodicalIF":4.2,"publicationDate":"2022-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46940287","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 : 2022-12-05DOI: 10.1080/13563467.2022.2153358
Dillon Wamsley
ABSTRACT Political economy literature has sought to explain the rapid shift from fiscal stimulus to austerity after the 2008 crisis. Influential contributions highlight the relative explanatory value of ideational or structural factors in contributing to post-crisis austerity. Drawing on Stephen Gill’s (1998) analysis of new constitutionalism and Peter Burnham’s (2001) understanding of depoliticisation, I contend that these frameworks offer a more useful lens to understand how post-2010 austerity in the US and UK was shaped by an enduring consensus on macroeconomic policy governance consolidating during the 1990s. Examining the role of fiscal mechanisms such as PAYGO in the US and the ‘Fiscal Golden Rules’ in the UK, and the operational independence conferred to central banks, I illustrate how Third Way governments institutionalised budgetary reforms and distanced macroeconomic policymaking from popular political contestation. Despite temporary lapses with this logic of fiscal restraint, as well as the rollout of historic monetary policies after 2008, I argue that these practices became deeply embedded within state institutions. Focusing on PAYGO in the US and the OBR in the UK, I show how policymakers redeployed policies and practices from the 1990s amidst the 2008 crisis to externalise responsibility for implementing austerity measures.
{"title":"Crisis management, new constitutionalism, and depoliticisation: recasting the politics of austerity in the US and UK, 2010–16","authors":"Dillon Wamsley","doi":"10.1080/13563467.2022.2153358","DOIUrl":"https://doi.org/10.1080/13563467.2022.2153358","url":null,"abstract":"ABSTRACT\u0000 Political economy literature has sought to explain the rapid shift from fiscal stimulus to austerity after the 2008 crisis. Influential contributions highlight the relative explanatory value of ideational or structural factors in contributing to post-crisis austerity. Drawing on Stephen Gill’s (1998) analysis of new constitutionalism and Peter Burnham’s (2001) understanding of depoliticisation, I contend that these frameworks offer a more useful lens to understand how post-2010 austerity in the US and UK was shaped by an enduring consensus on macroeconomic policy governance consolidating during the 1990s. Examining the role of fiscal mechanisms such as PAYGO in the US and the ‘Fiscal Golden Rules’ in the UK, and the operational independence conferred to central banks, I illustrate how Third Way governments institutionalised budgetary reforms and distanced macroeconomic policymaking from popular political contestation. Despite temporary lapses with this logic of fiscal restraint, as well as the rollout of historic monetary policies after 2008, I argue that these practices became deeply embedded within state institutions. Focusing on PAYGO in the US and the OBR in the UK, I show how policymakers redeployed policies and practices from the 1990s amidst the 2008 crisis to externalise responsibility for implementing austerity measures.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"646 - 661"},"PeriodicalIF":4.2,"publicationDate":"2022-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42115419","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 : 2022-11-28DOI: 10.1080/13563467.2022.2149722
M. Babić, Adam D. Dixon
ABSTRACT Environmental state debates focus on the governance and steering functions of politics. Concurrently, many states stand out as large global owners and investors in carbon industries. Via various investment vehicles, states control around half of all global oil and gas reserves as well as other carbon assets. We know very little, however, about where these states are invested; how they conduct their carbon investment; and what possibilities and constraints carbon-owning states have to decarbonise. Yet, these aspects – the geography, investment profiles and domestic state carbon capital dependence – are key to assess the possibilities and limitations of climate action states as carbon owners have. Based on new fine-grained firm-level data, we deliver conceptual and empirical insights into all three issues. Our intervention fills an important gap in our knowledge about the environmental state, while drawing the attention of researchers and policymakers to a blind spot, but also to transformation potentials of the carbon-owning state in the following decade.
{"title":"Decarbonising states as owners","authors":"M. Babić, Adam D. Dixon","doi":"10.1080/13563467.2022.2149722","DOIUrl":"https://doi.org/10.1080/13563467.2022.2149722","url":null,"abstract":"ABSTRACT Environmental state debates focus on the governance and steering functions of politics. Concurrently, many states stand out as large global owners and investors in carbon industries. Via various investment vehicles, states control around half of all global oil and gas reserves as well as other carbon assets. We know very little, however, about where these states are invested; how they conduct their carbon investment; and what possibilities and constraints carbon-owning states have to decarbonise. Yet, these aspects – the geography, investment profiles and domestic state carbon capital dependence – are key to assess the possibilities and limitations of climate action states as carbon owners have. Based on new fine-grained firm-level data, we deliver conceptual and empirical insights into all three issues. Our intervention fills an important gap in our knowledge about the environmental state, while drawing the attention of researchers and policymakers to a blind spot, but also to transformation potentials of the carbon-owning state in the following decade.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"608 - 627"},"PeriodicalIF":4.2,"publicationDate":"2022-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43449545","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 : 2022-11-28DOI: 10.1080/13563467.2022.2149720
H. James, Ariane Agunsoye
ABSTRACT This work contributes to the political economy literature by elucidating gendered socio-cultural practices germane to everyday financialisation. The financialisation of retirement provision in the UK expects individuals to negotiate risk and reward across diverse investments. Existing quantitative research highlights gender disparities in terms of who saves and how much, often interpreted as inherent behavioural traits which cast female behaviour as irrational. Yet, this ignores the dominance of masculine norms in shaping financial capitalism and the impact of gender-normative roles on everyday behaviours. Building on insights feminist political economy, this paper examines how constructions of gender, meaning socialised gender roles and norms, shape the ways men and women deal with financial risk when accumulating assets for later life. Drawing on 105 semi-structured interviews, we find that men and women understand and respond to risk in different and contradictory ways based on constructions of gender. These distinct approaches lead to divergent investment strategies: men tend to align with the gendered role of the risk-seeking investor, while women tend to feel alienated by models of investment which do not appear to fit feminine norms. This disparity compounds the effect of structural inequalities with implications for long-term welfare under financialisation.
{"title":"The gendered construction of risk in asset accumulation for retirement","authors":"H. James, Ariane Agunsoye","doi":"10.1080/13563467.2022.2149720","DOIUrl":"https://doi.org/10.1080/13563467.2022.2149720","url":null,"abstract":"ABSTRACT This work contributes to the political economy literature by elucidating gendered socio-cultural practices germane to everyday financialisation. The financialisation of retirement provision in the UK expects individuals to negotiate risk and reward across diverse investments. Existing quantitative research highlights gender disparities in terms of who saves and how much, often interpreted as inherent behavioural traits which cast female behaviour as irrational. Yet, this ignores the dominance of masculine norms in shaping financial capitalism and the impact of gender-normative roles on everyday behaviours. Building on insights feminist political economy, this paper examines how constructions of gender, meaning socialised gender roles and norms, shape the ways men and women deal with financial risk when accumulating assets for later life. Drawing on 105 semi-structured interviews, we find that men and women understand and respond to risk in different and contradictory ways based on constructions of gender. These distinct approaches lead to divergent investment strategies: men tend to align with the gendered role of the risk-seeking investor, while women tend to feel alienated by models of investment which do not appear to fit feminine norms. This disparity compounds the effect of structural inequalities with implications for long-term welfare under financialisation.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"574 - 591"},"PeriodicalIF":4.2,"publicationDate":"2022-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46829265","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 : 2022-11-21DOI: 10.1080/13563467.2022.2147495
Samuel Marlow-Stevens
ABSTRACT Despite a burgeoning literature on the topic, Brexit has not yet been the subject of a comprehensive ideological analysis. Through morphological analysis we establish an understanding of the concepts and ideas which underpin Brexit’s ideological structure and situate the political event and its aftermath firmly within a political economy context, as a response to the 2008 financial crash. Brexitism is a permutation of Conservatism which seeks to protect the interests of capital by maintaining a ‘state of exception’ characterised by instability and crisis. Political support is mobilised by way of a relentless pursuit of destructive change and innovation combined with a deindividualising concept of sovereignty. Thatcherism’s market justice gives way to a more inequitable and arbitrary concept, manifested in Johnson’s ‘levelling up’ agenda, which legitimises the sustained instability. Traditional Conservative rationality and respect for authority are necessarily eschewed in favour of stronger but more rigid emotional ties. While politically efficacious, Brexitism is inherently unstable and volatile, predicated on a contradiction between the promise of liberty and the maintenance of instability and uncertainty. Without the easy invocation of the ‘EU menace’ the fate of Johnson’s levelling up agenda will decide the longevity of this particular ideological iteration of British Conservatism.
{"title":"A morphological analysis of Brexitism","authors":"Samuel Marlow-Stevens","doi":"10.1080/13563467.2022.2147495","DOIUrl":"https://doi.org/10.1080/13563467.2022.2147495","url":null,"abstract":"ABSTRACT Despite a burgeoning literature on the topic, Brexit has not yet been the subject of a comprehensive ideological analysis. Through morphological analysis we establish an understanding of the concepts and ideas which underpin Brexit’s ideological structure and situate the political event and its aftermath firmly within a political economy context, as a response to the 2008 financial crash. Brexitism is a permutation of Conservatism which seeks to protect the interests of capital by maintaining a ‘state of exception’ characterised by instability and crisis. Political support is mobilised by way of a relentless pursuit of destructive change and innovation combined with a deindividualising concept of sovereignty. Thatcherism’s market justice gives way to a more inequitable and arbitrary concept, manifested in Johnson’s ‘levelling up’ agenda, which legitimises the sustained instability. Traditional Conservative rationality and respect for authority are necessarily eschewed in favour of stronger but more rigid emotional ties. While politically efficacious, Brexitism is inherently unstable and volatile, predicated on a contradiction between the promise of liberty and the maintenance of instability and uncertainty. Without the easy invocation of the ‘EU menace’ the fate of Johnson’s levelling up agenda will decide the longevity of this particular ideological iteration of British Conservatism.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"539 - 553"},"PeriodicalIF":4.2,"publicationDate":"2022-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48457703","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 : 2022-11-20DOI: 10.1080/13563467.2022.2143490
Alessia Aspide, Kathleen J. Brown, M. DiGiuseppe, Alexander Slaski
ABSTRACT Popular media and politicians have often blamed the high public debt of some EU countries on cultural differences. These claims are most apparent in the discourse contrasting ostensibly prudent Northern Europeans with spendthrift Southern Europeans. Despite the prominence of these and similar narratives and evidence that culture plays a nontrivial role in other economic outcomes, there is no systematic evidence that culture influences attitudes towards sovereign debt in the EU. We provide the first empirical test of this claim using over 233,000 responses to a Eurobarometer question about the salience of national debt. Our analysis reveals that national and sub-national differences explain very little of the variance in debt preferences. Further, the differences that do emerge do not fit existing cultural narratives. Additional analysis reveals that established measures of national culture or religious observance, at the national and regional levels, do not correlate with debt attitudes as cultural arguments would predict.
{"title":"Culture & European attitudes on public debt","authors":"Alessia Aspide, Kathleen J. Brown, M. DiGiuseppe, Alexander Slaski","doi":"10.1080/13563467.2022.2143490","DOIUrl":"https://doi.org/10.1080/13563467.2022.2143490","url":null,"abstract":"ABSTRACT Popular media and politicians have often blamed the high public debt of some EU countries on cultural differences. These claims are most apparent in the discourse contrasting ostensibly prudent Northern Europeans with spendthrift Southern Europeans. Despite the prominence of these and similar narratives and evidence that culture plays a nontrivial role in other economic outcomes, there is no systematic evidence that culture influences attitudes towards sovereign debt in the EU. We provide the first empirical test of this claim using over 233,000 responses to a Eurobarometer question about the salience of national debt. Our analysis reveals that national and sub-national differences explain very little of the variance in debt preferences. Further, the differences that do emerge do not fit existing cultural narratives. Additional analysis reveals that established measures of national culture or religious observance, at the national and regional levels, do not correlate with debt attitudes as cultural arguments would predict.","PeriodicalId":51447,"journal":{"name":"New Political Economy","volume":"28 1","pages":"509 - 525"},"PeriodicalIF":4.2,"publicationDate":"2022-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48321729","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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