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What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
This short book makes a connection between recent ‘tectonic shifts’ in the world economy and the political problems currently confronted by western democracies. The shift of manufacturing away from the West, allied to the pressure to keep costs down in an increasingly competitive global economy, has led to economic inequality, reliance on service industry employment and public sector austerity. All this has in turn produced large numbers of desperate citizens attracted to a populist economic nationalism accompanied by xenophobia. However, the originality of this text lies not in the above argument, but in the philosophical reflections which drive and derive from it. These include reflections on history as a supposed causal process; on the need to make ethical judgements of economic activities and the difficulties of doing so; and on the problems confronting modern citizens in understanding complex economic processes and their political implications. Capitalism and Democracy in the Twenty-First Century endorses Wittgenstein’s ‘praxis’ approach to human social life and its study. Accordingly, it not only analyses economic and political problems but suggests ways of solving or mitigating them. In doing so it relies on Marx’s conviction that our capacity to see certain phenomena as problems is at least a priori evidence that they can be solved. This book will appeal to undergraduate and postgraduate students of politics, comparative politics, political economy and international relations.
Twenty-First Century Populism analyses the phenomenon of sustained populist growth in Western Europe by looking at the conditions facilitating populism in specific national contexts and then examining populist fortunes in those countries. The chapters are written by country experts and political scientists from across the continent.
This publication considers common concerns of developing countries in the search for sustainable development and growth such as globalisation, democracy, poverty and inequality, while also emphasising special regional needs. It contains a number of papers which discuss four key shared concerns: to what extent should states intervene in the market in order to promote growth; how much emphasis should development strategies put on deliberate redistribution and/or poverty alleviation; the impact of globalisation on developing countries in choosing their development paths; and whether democracies are able to reconcile economic growth with distribution.
This book interrogates contemporary debates, controversies, achievements, challenges, and future prospects of African development and democratization from varied theoretical perspectives. The diverse issues and sub-themes addressed in this volume include tenets of democracy such as democratization, democratic institutions, good governance, term limits, minority rights, and women’s political participation; and dynamics of development such as economic growth, liberalization, development strategies and models, Millennium Development Goals, uneven regional development,sustainable development challenges, transport development and management, and health and development. Featuring established and emerging scholars, this book is a vital resource for scholars, policy makers, and students interested in African politics and development.
Is democracy still the best political regime for countries to adapt to economic and technological pressures and increase their level of prosperity? While the West seems to have stagnated in an environment of political mistrust, increasing inequality and low growth, the rise of the East has shown that it may not be liberal democracy that is best at accommodating the social mutations that technologies have triggered. The cases of China and Italy form the research focus as two extremes in growth performance. China is the star of globalisation in the East, while Italy is the laggard of globalisation in the West and a laboratory of creeping political meltdown now shared by other major Western economies. But is this forever? Introducing the ‘innovation paradox’ as the main challenge to the West and the notion of ‘knowledge democracy’ as key to sustainable growth, this book presents a new side to the debate on the Fourth Industrial Revolution (or fifth as the authors argue). It is a vital reading for all those questioning what kind of democracy positively impacts innovation as the force whose speed and direction transforms societies and economies.
Whereas many writers and scholars interested in the field of social democracy have focused on factors such as the role of economic globalization and electoral pressures, Ashley Lavelle explores the importance of the collapse of the post-war economic boom and lower growth rates since then. He examines how these pressures have led social democrats to embrace neo-liberal policies and become threatened by minor parties and independent politicians. Providing an original argument about the decline of social democracy, the author investigates how its decline has increased the popularity of minor parties and independents, along with the reasons for social democratic membership and electoral decline. This is an important book for scholars of social democracy and the broader themes of world politics, political parties, social movements and globalization.
The symptoms of the crisis of the U.S. media are well-known—a decline in hard news, the growth of info-tainment and advertorials, staff cuts and concentration of ownership, increasing conformity of viewpoint and suppression of genuine debate. McChesney's new book, The Problem of the Media, gets to the roots of this crisis, explains it, and points a way forward for the growing media reform movement. Moving consistently from critique to action, the book explores the political economy of the media, illuminating its major flashpoints and controversies by locating them in the political economy of U.S. capitalism. It deals with issues such as the declining quality of journalism, the question of bias, the weakness of the public broadcasting sector, and the limits and possibilities of antitrust legislation in regulating the media. It points out the ways in which the existing media system has become a threat to democracy, and shows how it could be made to serve the interests of the majority. McChesney's Rich Media, Poor Democracy was hailed as a pioneering analysis of the way in which media had come to serve the interests of corporate profit rather than public enlightenment and debate. Bill Moyers commented, "If Thomas Paine were around, he would have written this book." The Problem of the Media is certain to be a landmark in media studies, a vital resource for media activism, and essential reading for concerned scholars and citizens everywhere.
Exploring and updating the controversial debates about the relationship between democracy and development, this Research Handbook provides clarification on the complex and nuanced interlinkages between political regime type and socio-economic development. Distinguished scholars examine a broad range of issues from multidisciplinary perspectives across Africa, Asia, Europe, Latin America and the Middle East.
This book explores the history, current relevance, and future implementation of the monumental idea of an elected global parliament. The second edition brings the book up to date and incorporates extensive revisions and additions.