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These Days Almost Anyone Is Bound To Be Depressed By The Litany Of Economic Woes Besieging Canada. Mainstream Economists, Politicians And Business Leaders Claim That Workers Wages Must Fall, That The Social Safety Net Must Be Stripped Away, That Taxes Must Be Cut And That Environmental Regulations Must Be Relaxed. There Is No Alternative, We Are Told, If Canada Is To Be Competitive. But Is This Really The Case? If We Are To Even Begin To Respond To This New Economic Mantra We Have To Know What Makes Our Economy Tick. In InsideCapitalism, Paul Phillips Introduces Us To Political Economic Analysis That Explains Why Firms Behave As They Do, Why We Have Such A High Level Of Economic Monopoly And Who Benefits From The Economic Structure Of Capitalism. In So Doing, Phillips Shows Us That Traditional Economic Analysis Is Mainly Ideology. Clearly, The Dismal Prospects That Average Canadians Face Are Not The Result Of Immutable Economic Laws But Rather Due To The Political And Economic Power That Business Has Amassed With The Aid Of Successive Governments And The Bank Of Canada.
These days almost anyone is bound to be depressed by the litany of economic woes besieging Canada. Mainstream economists, politicians and business leaders claim that workers' wages must fall, that the social safety net must be stripped away, that taxes mu
Problems associated with cronyism, corporatism, and policies that favor the elite over the masses have received increasing attention in recent years. Political Capitalism explains that what people often view as the result of corruption and unethical behavior are symptoms of a distinct system of political economy. The symptoms of political capitalism are often viewed as the result of government intervention in a market economy, or as attributes of a capitalist economy itself. Randall G. Holcombe combines well-established theories in economics and the social sciences to show that political capitalism is not a mixed economy, or government intervention in a market economy, or some intermediate step between capitalism and socialism. After developing the economic theory of political capitalism, Holcombe goes on to explain how changes in political ideology have facilitated the growth of political capitalism, and what can be done to redirect public policy back toward the public interest.
Mexico City's public markets were integral to the country's economic development, bolstering the expansion of capitalism from the mid-nineteenth to mid-twentieth centuries. These publicly owned and operated markets supplied households with everyday necessities and generated revenue for local authorities. At the same time, they were embedded in a wider network of economic and social relations that gave market vendors an influence far beyond the running of their stalls. As they fed the capital's population, these vendors fought to protect their own livelihoods, shaping the public sphere and broadening the scope of popular politics. Vendors' Capitalism argues for the centrality of Mexico City's public markets to the political economy of the city from the restoration of the Republic in 1867 to the heyday of the Mexican miracle and the PRI in the 1960s. Each day vendors interacted with customers, suppliers, government officials, and politicians, and the multiple conflicts that arose repeatedly tested the institutional capacity of the state. Through a close reading of the archives and an analysis of vendors' intersecting economic and political lives, Ingrid Bleynat explores the dynamics, as well as the limits, of capitalist development in Mexico.
Winner of the Rik Davidson/Studies in Political Economy 2022 Book Prize A key text, Capitalist Political Economy: Thinkers and Theories analyses the field-forming theoretical contributions to political economy that have defined, debated, critiqued, and defended capitalism for more than three centuries. Political economy recognizes and celebrates the many and varied interconnections between politics and economics in society, together with the economic implications of public policy and the political impact of market and property relations. As such, political economy is both an approach to understanding capitalism and a reflection of the forms and features of capitalism at particular moments. Grounded in primary and secondary literature including theorists’ original writings and leading literary biographies, this text explores principal themes in the development of capitalism and political economic thought. It relates these to markets, property, profits, labour, investment, innovation, the state, growth and crises, gender, the ecological limits of capital accumulation, and rival economic practices. The book contextualizes the legacy of foundational political economists by exploring their life and times and putting them in conversation with other highly influential theorists. Equally, it also considers more contemporary views. This book serves as an indispensable source for academic communities who are interested in the long arc of capitalist development, theories, and theorists.
From the Introduction: This book challenges the conventional wisdom about classical political economy and the rise of capitalism. It is written in the conviction that modern interpretations of political economy have suffered terribly from acceptance of the prevailing liberal view of the origins and development of capitalist society. By the liberal account, capitalism emerged out of the centuries-old competitive activities of merchants and manufacturers in rational pursuit of their individual economic self-interest. Over time, this account claims, the persistent activity of these classes developed new forms of wealth and productive resources and new intellectual and cultural habits, which eroded the existing structure of society. The rise of capitalism is thus explained in terms of the rise to prominence of the most productive, rational, and progressive social groups—merchants and manufacturers. Not surprisingly, classical political economy came to be seen as an intellectual reflection of the ascendance of merchants and manufacturers and as a theoretical justification of their interests and activities. This book argues that capitalism was the product of an immense transformation in the social relationships of landed society and that this fact is crucial to understanding the development of classical political economy. Without a radical transformation of the agrarian economy, the activities of merchants and manufacturers would have remained strictly confined. By no inexorable logic of their own were mercantile and industrial activities capable of fundamentally transforming the essential relations of precapitalist society. Rather, the changes in agrarian economy, which drove rural producers from their land, forced them onto the labour market as wage labourers for their means of subsistence, and refashioned farming as an economic activity based upon the production of agricultural commodities for profit on the market, established the essential relations of modern capitalism. In what follows, these processes are described in terms of the emergence of agrarian capitalism. This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1988.
Drawing together leading scholars, the book provides a revealing new map of the US political economy in cross-national perspective.
Embedded in an historical account of the development of U.S. capitalism up to the present day, this book gives the reader a thorough description of the major aspects of the U.S. economy, as well as a theoretical understanding of the overall economy. A particular focus of this book is how free markets work in capitalism and the interrelationship between markets and the government. Of particular interest in the current economic situation is the question of what can the government do to get the economy going again. Underlying the standard economics text today is the fundamental belief that leaving markets as free as possible will lead to the ideal economy. Directly opposing this approach, this book takes a critical stance toward free markets. Rather than viewing markets as the ideal solution to almost all economic problems, this book argues that markets are not always the answer. On the contrary, they are often the problem, and must be corrected by government action. Related to this critical stance, and in a further departure from current economics texts, this book takes an explicitly Keynesian approach to the macro-economy. Rejecting the free market approach which dominates both micro- and macro-economics today, this book offers a fresh perspective on economics and the economy today.
This is a book about how 21st-century capitalism really works. Modern economics strips away social, historical, and political context from analysis of 'the economic', but the economy is far too important to leave exclusively to the economists. Comparative Political Economy (CPE) is a much broader, richer intellectual undertaking which 're-embeds' the analysis of the economic within the social and political realm. This is at the heart of how to think like a political economist. This text maps the terrain and evolution of CPE, providing the analytical tools to explore the many variants of capitalism, unearthing their roots in competing visions of the desirable distribution of the fruits of growth. Connecting CPE systematically to the subfield of International Political Economy (IPE), the book explains how these visions generate ongoing political struggles over how to regulate and manage capitalism. This is the perfect introduction to the field for all students of CPE and IPE. New to this Edition: - Fully revised and updated throughout to take into account the latest empirical and theoretical developments in this fast-moving field - A brand New chapter on the political economy of inequality, populism, Trump & Brexit - New expanded 'how to use this book' aimed at student readers - More coverage of the types of economies covered, to move from an exclusively Western focus to cover developing and emerging global economies
Applying the new economics of organisation and relational theories of the firm to the problem of understanding cross-national variation in the political economy, this volume elaborates a new understanding of the institutional differences that characterise the 'varieties of capitalism' worldwide.