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HIDDEN ABODES IN PLAIN SIGHT: WHAT THE COVID-19 PANDEMIC By Sara Stevano, Alessandra Mezzadri, Lorena Lombardozzi and Hannah Bargawi After over a year of suffering, death and profound transformations of everyday life, it is time to take stock of the COVID-19 crisis so far and craft visions for a future centred on the value of social reproduction. In our article ‘Hidden Abodes in Plain A NEW WASHINGTON CONSENSUS ON THE ROLE OF THE STATE By Ilias Alami, Adam Dixon and Emma Mawdsley. In a recent op-ed, Martin Sandbu of the Financial Times argues that “the conversion by the IMF and World Bank to support the activist state would put Saul of Tarsus to shame.” According to him, we may be witnessing the rise of a new Washington Consensus, which embraces deficit spending (by rich countries), “temporary solidarity ECONOMICS THROUGH THE LENS OF WOMEN There is a long-standing debate on how economics as a subject is gender blind giving rise to various branches within the subject that seek to address ‘the woman question’ (as early feminism has been labeled) within the discipline. Giandomenica Becchio’s book A History of Feminist and Gender Economics is not merely an attempt tounderstand
LATIN AMERICA: STILL CAUGHT IN THE CAPITAL FLOWS TRAP In a recent article, I discussed the poor state of Latin American economies drawing on some rather obscure works by Raúl Prebisch, explicitly addressed to the disturbing role of capital flows on (primarized and open) Latin American economies.I find that the post-2008 cyclical trend of capital flows is an exacerbated version of what has been affecting Latin America since the days of Prebich . THE SOCIALIST MARKET ECONOMY IN CHINA, VIETNAM AND LAOS: A By Jo Inge Bekkevold, Arve Hansen and Kristen Nordhaug China, Vietnam and Laos have for three decades been among the fastest growing economies in the world. In other words, three of the best growth performers in global capitalism are authoritarian states led by communist parties with socialism as the official development goal.This fact has
THE USE AND ABUSE OF THE PHRASE “GLOBAL PUBLIC GOOD A flawed understanding of the concept of “public good” hampers the fight for equitable access to the upcoming COVID-19 vaccine The term “global public good” has been used in very different ways by policy makers, economists and others. The term “global” is not particularly controversial, and in this context is generally understood to involve casesARVE HANSEN
By Jo Inge Bekkevold, Arve Hansen and Kristen Nordhaug. China, Vietnam and Laos have for three decades been among the fastest growing economies in the world. In other words, three of the best growth performers in global capitalism are authoritarian states led by communist parties with socialism as the official development goal. IS POSTCOLONIAL CAPITALISM A THING TO ITSELF? REVIEWING Kalyan Sanyal’s Rethinking Capitalist Development (2007, 2014) is a rare work of political economy for many reasons. It is written by an economist, but it’s so interdisciplinary that you won’t be able to tell. It is an attempt to theorize capitalism in the postcolonial context from the inside-out rather than outside-in, i.e. with noreference
NEOLIBERALISM OR NEOCOLONIALISM? EVALUATING NEOLIBERALISMSEE MORE ON DEVELOPINGECONOMICS.ORG THE PATHOLOGY OF ECONOMICS COVID-19 exposes the deadly dominance of neoclassical economics in Africa. On February 24, 2021 Ghana received a vaccine shipment (600,000 doses), the first to sub-Saharan Africa under the COVAX facility. It amounted to a tiny fraction of the hundreds of millions needed on a continent increasingly ravaged by the pandemic. Contrastthis to the tens
HIDDEN ABODES IN PLAIN SIGHT: WHAT THE COVID-19 PANDEMIC By Sara Stevano, Alessandra Mezzadri, Lorena Lombardozzi and Hannah Bargawi After over a year of suffering, death and profound transformations of everyday life, it is time to take stock of the COVID-19 crisis so far and craft visions for a future centred on the value of social reproduction. In our article ‘Hidden Abodes in Plain A NEW WASHINGTON CONSENSUS ON THE ROLE OF THE STATE By Ilias Alami, Adam Dixon and Emma Mawdsley. In a recent op-ed, Martin Sandbu of the Financial Times argues that “the conversion by the IMF and World Bank to support the activist state would put Saul of Tarsus to shame.” According to him, we may be witnessing the rise of a new Washington Consensus, which embraces deficit spending (by rich countries), “temporary solidarity ECONOMICS THROUGH THE LENS OF WOMEN There is a long-standing debate on how economics as a subject is gender blind giving rise to various branches within the subject that seek to address ‘the woman question’ (as early feminism has been labeled) within the discipline. Giandomenica Becchio’s book A History of Feminist and Gender Economics is not merely an attempt tounderstand
LATIN AMERICA: STILL CAUGHT IN THE CAPITAL FLOWS TRAP In a recent article, I discussed the poor state of Latin American economies drawing on some rather obscure works by Raúl Prebisch, explicitly addressed to the disturbing role of capital flows on (primarized and open) Latin American economies.I find that the post-2008 cyclical trend of capital flows is an exacerbated version of what has been affecting Latin America since the days of Prebich . THE SOCIALIST MARKET ECONOMY IN CHINA, VIETNAM AND LAOS: A By Jo Inge Bekkevold, Arve Hansen and Kristen Nordhaug China, Vietnam and Laos have for three decades been among the fastest growing economies in the world. In other words, three of the best growth performers in global capitalism are authoritarian states led by communist parties with socialism as the official development goal.This fact has
THE USE AND ABUSE OF THE PHRASE “GLOBAL PUBLIC GOOD A flawed understanding of the concept of “public good” hampers the fight for equitable access to the upcoming COVID-19 vaccine The term “global public good” has been used in very different ways by policy makers, economists and others. The term “global” is not particularly controversial, and in this context is generally understood to involve casesARVE HANSEN
By Jo Inge Bekkevold, Arve Hansen and Kristen Nordhaug. China, Vietnam and Laos have for three decades been among the fastest growing economies in the world. In other words, three of the best growth performers in global capitalism are authoritarian states led by communist parties with socialism as the official development goal. IS POSTCOLONIAL CAPITALISM A THING TO ITSELF? REVIEWING Kalyan Sanyal’s Rethinking Capitalist Development (2007, 2014) is a rare work of political economy for many reasons. It is written by an economist, but it’s so interdisciplinary that you won’t be able to tell. It is an attempt to theorize capitalism in the postcolonial context from the inside-out rather than outside-in, i.e. with noreference
NEOLIBERALISM OR NEOCOLONIALISM? EVALUATING NEOLIBERALISMSEE MORE ON DEVELOPINGECONOMICS.ORG THE PATHOLOGY OF ECONOMICS COVID-19 exposes the deadly dominance of neoclassical economics in Africa. On February 24, 2021 Ghana received a vaccine shipment (600,000 doses), the first to sub-Saharan Africa under the COVAX facility. It amounted to a tiny fraction of the hundreds of millions needed on a continent increasingly ravaged by the pandemic. Contrastthis to the tens
NATIONAL FISCAL REDISTRIBUTION AS “INTERNATIONAL The histories of international development and foreign aid often focus on aid between independent nations. Williams’ (2013: 234) history of international development aid only begins from the British Colonial Development Act of 1929. Markovits, Strange and Tingley’s (2019) history of foreign aid focuses on aid between “nations” orempires.
HIDDEN ABODES IN PLAIN SIGHT: WHAT THE COVID-19 PANDEMIC By Sara Stevano, Alessandra Mezzadri, Lorena Lombardozzi and Hannah Bargawi After over a year of suffering, death and profound transformations of everyday life, it is time to take stock of the COVID-19 crisis so far and craft visions for a future centred on the value of social reproduction. In our article ‘Hidden Abodes in Plain FROM POST-MARXISM BACK TO MARXISM? The Handbook of Marxism and Post-Marxism I co-edited with Alex Callinicos and Stathis Kouvelakis aims to present the development of Marxism as a militant tradition in dialogue with other traditions and within itself. Even if it was conceived almost six years ago, the multiple crises we are confronting today – economic, political, social, gender, environmental THE CORONAVIRUS AND CARCERAL CAPITALISM The Coronavirus and Carceral Capitalism. From a prison cell in 1930, Antonio Gramsci wrote “The crisis consists precisely in the fact that the old world is dying and the new cannot yet be born; in the interregnum a great variety of morbid symptoms appear.”. The political economic and biological relevance of Gramsci’s words andthe
THE USE AND ABUSE OF THE PHRASE “GLOBAL PUBLIC GOOD A flawed understanding of the concept of “public good” hampers the fight for equitable access to the upcoming COVID-19 vaccine The term “global public good” has been used in very different ways by policy makers, economists and others. The term “global” is not particularly controversial, and in this context is generally understood to involve casesLATE DEVELOPMENT
Photo: Max Pixel. In his acclaimed poem “America” from 1956, Allen Ginsberg warned about the new vices of American society. Beyond the clear demonization of communist ideals, the star of the beat generation warned about the growing influence of the media on the thinking of individuals.. With globalization, the commodity fetishism disguised as the American dream entered not only the minds ECONOMIC DEVELOPMENT IN THE 21ST CENTURY: A REVIEW The third session led by Margarita Olivera focused on the possibilities of economic development in this century. Under this perspective, she focused on demarcating the possible institutional limits induced by a variety of supranational organizations such as, for example, the World Trade Organization. RMB INTERNATIONALISATION AS AN EXTENSION OF CHINESE STATE RMB internationalisation as an extension of Chinese state capitalism. Kean Fan Lim investigates the rationale underpinning the internationalization of the renminbi and shed s light on its uneasy relationship with the transformations of Chinese state capitalism intoa global process.
IS POSTCOLONIAL CAPITALISM A THING TO ITSELF? REVIEWING Kalyan Sanyal’s Rethinking Capitalist Development (2007, 2014) is a rare work of political economy for many reasons. It is written by an economist, but it’s so interdisciplinary that you won’t be able to tell. It is an attempt to theorize capitalism in the postcolonial context from the inside-out rather than outside-in, i.e. with noreference
THE PATHOLOGY OF ECONOMICS COVID-19 exposes the deadly dominance of neoclassical economics in Africa. On February 24, 2021 Ghana received a vaccine shipment (600,000 doses), the first to sub-Saharan Africa under the COVAX facility. It amounted to a tiny fraction of the hundreds of millions needed on a continent increasingly ravaged by the pandemic. Contrastthis to the tens
HIDDEN ABODES IN PLAIN SIGHT: WHAT THE COVID-19 PANDEMIC By Sara Stevano, Alessandra Mezzadri, Lorena Lombardozzi and Hannah Bargawi After over a year of suffering, death and profound transformations of everyday life, it is time to take stock of the COVID-19 crisis so far and craft visions for a future centred on the value of social reproduction. In our article ‘Hidden Abodes in Plain A NEW WASHINGTON CONSENSUS ON THE ROLE OF THE STATE By Ilias Alami, Adam Dixon and Emma Mawdsley. In a recent op-ed, Martin Sandbu of the Financial Times argues that “the conversion by the IMF and World Bank to support the activist state would put Saul of Tarsus to shame.” According to him, we may be witnessing the rise of a new Washington Consensus, which embraces deficit spending (by rich countries), “temporary solidarity ECONOMICS THROUGH THE LENS OF WOMEN There is a long-standing debate on how economics as a subject is gender blind giving rise to various branches within the subject that seek to address ‘the woman question’ (as early feminism has been labeled) within the discipline. Giandomenica Becchio’s book A History of Feminist and Gender Economics is not merely an attempt tounderstand
LATIN AMERICA: STILL CAUGHT IN THE CAPITAL FLOWS TRAP In a recent article, I discussed the poor state of Latin American economies drawing on some rather obscure works by Raúl Prebisch, explicitly addressed to the disturbing role of capital flows on (primarized and open) Latin American economies.I find that the post-2008 cyclical trend of capital flows is an exacerbated version of what has been affecting Latin America since the days of Prebich . THE SOCIALIST MARKET ECONOMY IN CHINA, VIETNAM AND LAOS: A By Jo Inge Bekkevold, Arve Hansen and Kristen Nordhaug China, Vietnam and Laos have for three decades been among the fastest growing economies in the world. In other words, three of the best growth performers in global capitalism are authoritarian states led by communist parties with socialism as the official development goal.This fact has
THE USE AND ABUSE OF THE PHRASE “GLOBAL PUBLIC GOOD A flawed understanding of the concept of “public good” hampers the fight for equitable access to the upcoming COVID-19 vaccine The term “global public good” has been used in very different ways by policy makers, economists and others. The term “global” is not particularly controversial, and in this context is generally understood to involve casesARVE HANSEN
By Jo Inge Bekkevold, Arve Hansen and Kristen Nordhaug. China, Vietnam and Laos have for three decades been among the fastest growing economies in the world. In other words, three of the best growth performers in global capitalism are authoritarian states led by communist parties with socialism as the official development goal. IS POSTCOLONIAL CAPITALISM A THING TO ITSELF? REVIEWING Kalyan Sanyal’s Rethinking Capitalist Development (2007, 2014) is a rare work of political economy for many reasons. It is written by an economist, but it’s so interdisciplinary that you won’t be able to tell. It is an attempt to theorize capitalism in the postcolonial context from the inside-out rather than outside-in, i.e. with noreference
NEOLIBERALISM OR NEOCOLONIALISM? EVALUATING NEOLIBERALISMSEE MORE ON DEVELOPINGECONOMICS.ORG THE PATHOLOGY OF ECONOMICS COVID-19 exposes the deadly dominance of neoclassical economics in Africa. On February 24, 2021 Ghana received a vaccine shipment (600,000 doses), the first to sub-Saharan Africa under the COVAX facility. It amounted to a tiny fraction of the hundreds of millions needed on a continent increasingly ravaged by the pandemic. Contrastthis to the tens
HIDDEN ABODES IN PLAIN SIGHT: WHAT THE COVID-19 PANDEMIC By Sara Stevano, Alessandra Mezzadri, Lorena Lombardozzi and Hannah Bargawi After over a year of suffering, death and profound transformations of everyday life, it is time to take stock of the COVID-19 crisis so far and craft visions for a future centred on the value of social reproduction. In our article ‘Hidden Abodes in Plain A NEW WASHINGTON CONSENSUS ON THE ROLE OF THE STATE By Ilias Alami, Adam Dixon and Emma Mawdsley. In a recent op-ed, Martin Sandbu of the Financial Times argues that “the conversion by the IMF and World Bank to support the activist state would put Saul of Tarsus to shame.” According to him, we may be witnessing the rise of a new Washington Consensus, which embraces deficit spending (by rich countries), “temporary solidarity ECONOMICS THROUGH THE LENS OF WOMEN There is a long-standing debate on how economics as a subject is gender blind giving rise to various branches within the subject that seek to address ‘the woman question’ (as early feminism has been labeled) within the discipline. Giandomenica Becchio’s book A History of Feminist and Gender Economics is not merely an attempt tounderstand
LATIN AMERICA: STILL CAUGHT IN THE CAPITAL FLOWS TRAP In a recent article, I discussed the poor state of Latin American economies drawing on some rather obscure works by Raúl Prebisch, explicitly addressed to the disturbing role of capital flows on (primarized and open) Latin American economies.I find that the post-2008 cyclical trend of capital flows is an exacerbated version of what has been affecting Latin America since the days of Prebich . THE SOCIALIST MARKET ECONOMY IN CHINA, VIETNAM AND LAOS: A By Jo Inge Bekkevold, Arve Hansen and Kristen Nordhaug China, Vietnam and Laos have for three decades been among the fastest growing economies in the world. In other words, three of the best growth performers in global capitalism are authoritarian states led by communist parties with socialism as the official development goal.This fact has
THE USE AND ABUSE OF THE PHRASE “GLOBAL PUBLIC GOOD A flawed understanding of the concept of “public good” hampers the fight for equitable access to the upcoming COVID-19 vaccine The term “global public good” has been used in very different ways by policy makers, economists and others. The term “global” is not particularly controversial, and in this context is generally understood to involve casesARVE HANSEN
By Jo Inge Bekkevold, Arve Hansen and Kristen Nordhaug. China, Vietnam and Laos have for three decades been among the fastest growing economies in the world. In other words, three of the best growth performers in global capitalism are authoritarian states led by communist parties with socialism as the official development goal. IS POSTCOLONIAL CAPITALISM A THING TO ITSELF? REVIEWING Kalyan Sanyal’s Rethinking Capitalist Development (2007, 2014) is a rare work of political economy for many reasons. It is written by an economist, but it’s so interdisciplinary that you won’t be able to tell. It is an attempt to theorize capitalism in the postcolonial context from the inside-out rather than outside-in, i.e. with noreference
NEOLIBERALISM OR NEOCOLONIALISM? EVALUATING NEOLIBERALISMSEE MORE ON DEVELOPINGECONOMICS.ORG THE PATHOLOGY OF ECONOMICS COVID-19 exposes the deadly dominance of neoclassical economics in Africa. On February 24, 2021 Ghana received a vaccine shipment (600,000 doses), the first to sub-Saharan Africa under the COVAX facility. It amounted to a tiny fraction of the hundreds of millions needed on a continent increasingly ravaged by the pandemic. Contrastthis to the tens
NATIONAL FISCAL REDISTRIBUTION AS “INTERNATIONAL The histories of international development and foreign aid often focus on aid between independent nations. Williams’ (2013: 234) history of international development aid only begins from the British Colonial Development Act of 1929. Markovits, Strange and Tingley’s (2019) history of foreign aid focuses on aid between “nations” orempires.
HIDDEN ABODES IN PLAIN SIGHT: WHAT THE COVID-19 PANDEMIC By Sara Stevano, Alessandra Mezzadri, Lorena Lombardozzi and Hannah Bargawi After over a year of suffering, death and profound transformations of everyday life, it is time to take stock of the COVID-19 crisis so far and craft visions for a future centred on the value of social reproduction. In our article ‘Hidden Abodes in Plain FROM POST-MARXISM BACK TO MARXISM? The Handbook of Marxism and Post-Marxism I co-edited with Alex Callinicos and Stathis Kouvelakis aims to present the development of Marxism as a militant tradition in dialogue with other traditions and within itself. Even if it was conceived almost six years ago, the multiple crises we are confronting today – economic, political, social, gender, environmental THE CORONAVIRUS AND CARCERAL CAPITALISM The Coronavirus and Carceral Capitalism. From a prison cell in 1930, Antonio Gramsci wrote “The crisis consists precisely in the fact that the old world is dying and the new cannot yet be born; in the interregnum a great variety of morbid symptoms appear.”. The political economic and biological relevance of Gramsci’s words andthe
THE USE AND ABUSE OF THE PHRASE “GLOBAL PUBLIC GOOD A flawed understanding of the concept of “public good” hampers the fight for equitable access to the upcoming COVID-19 vaccine The term “global public good” has been used in very different ways by policy makers, economists and others. The term “global” is not particularly controversial, and in this context is generally understood to involve casesLATE DEVELOPMENT
Photo: Max Pixel. In his acclaimed poem “America” from 1956, Allen Ginsberg warned about the new vices of American society. Beyond the clear demonization of communist ideals, the star of the beat generation warned about the growing influence of the media on the thinking of individuals.. With globalization, the commodity fetishism disguised as the American dream entered not only the minds ECONOMIC DEVELOPMENT IN THE 21ST CENTURY: A REVIEW The third session led by Margarita Olivera focused on the possibilities of economic development in this century. Under this perspective, she focused on demarcating the possible institutional limits induced by a variety of supranational organizations such as, for example, the World Trade Organization. RMB INTERNATIONALISATION AS AN EXTENSION OF CHINESE STATE RMB internationalisation as an extension of Chinese state capitalism. Kean Fan Lim investigates the rationale underpinning the internationalization of the renminbi and shed s light on its uneasy relationship with the transformations of Chinese state capitalism intoa global process.
IS POSTCOLONIAL CAPITALISM A THING TO ITSELF? REVIEWING Kalyan Sanyal’s Rethinking Capitalist Development (2007, 2014) is a rare work of political economy for many reasons. It is written by an economist, but it’s so interdisciplinary that you won’t be able to tell. It is an attempt to theorize capitalism in the postcolonial context from the inside-out rather than outside-in, i.e. with noreference
DEVELOPING ECONOMICS May 21, 2021 Developing Economics Leave a comment. In April 2021, Ivan Duque’s administration presented a tax reform bill labeled “Law of Sustainable Solidarity” to Congress. The bill contemplated an increment of the VAT on basic goods in conjunction with an increase in the marginal tax rates on the income of the so-called Colombian THE PATHOLOGY OF ECONOMICS COVID-19 exposes the deadly dominance of neoclassical economics in Africa. On February 24, 2021 Ghana received a vaccine shipment (600,000 doses), the first to sub-Saharan Africa under the COVAX facility. It amounted to a tiny fraction of the hundreds of millions needed on a continent increasingly ravaged by the pandemic. Contrastthis to the tens
HIDDEN ABODES IN PLAIN SIGHT: WHAT THE COVID-19 PANDEMIC By Sara Stevano, Alessandra Mezzadri, Lorena Lombardozzi and Hannah Bargawi After over a year of suffering, death and profound transformations of everyday life, it is time to take stock of the COVID-19 crisis so far and craft visions for a future centred on the value of social reproduction. In our article ‘Hidden Abodes in Plain WHAT IS A DEVELOPED COUNTRY? Any discussion of economic development - either implicitly or explicitly - contains the distinction between developed countries and developing (or under-developed) countries. While there are many theories on what promotes development and how best to achieve it, in all cases the goal is for a country to eventually become ‘developed’. This begs the question - A NEW WASHINGTON CONSENSUS ON THE ROLE OF THE STATE By Ilias Alami, Adam Dixon and Emma Mawdsley. In a recent op-ed, Martin Sandbu of the Financial Times argues that “the conversion by the IMF and World Bank to support the activist state would put Saul of Tarsus to shame.” According to him, we may be witnessing the rise of a new Washington Consensus, which embraces deficit spending (by rich countries), “temporary solidarity THE SOCIALIST MARKET ECONOMY IN CHINA, VIETNAM AND LAOS: A By Jo Inge Bekkevold, Arve Hansen and Kristen Nordhaug China, Vietnam and Laos have for three decades been among the fastest growing economies in the world. In other words, three of the best growth performers in global capitalism are authoritarian states led by communist parties with socialism as the official development goal.This fact has
ECONOMICS THROUGH THE LENS OF WOMEN There is a long-standing debate on how economics as a subject is gender blind giving rise to various branches within the subject that seek to address ‘the woman question’ (as early feminism has been labeled) within the discipline. Giandomenica Becchio’s book A History of Feminist and Gender Economics is not merely an attempt tounderstand
LATIN AMERICA: STILL CAUGHT IN THE CAPITAL FLOWS TRAP In a recent article, I discussed the poor state of Latin American economies drawing on some rather obscure works by Raúl Prebisch, explicitly addressed to the disturbing role of capital flows on (primarized and open) Latin American economies.I find that the post-2008 cyclical trend of capital flows is an exacerbated version of what has been affecting Latin America since the days of Prebich . DEBUNKING THE ‘FREE MARKET MIRACLE’: HOW INDUSTRIAL POLICY Assessing industrial policies in Chile remains a rather contentious and divisive topic. Chile has long been held up as an almost‐textbook example of the success of ‘letting the market work’, as there was a broad agreement among mainstream economists that Chile has largely succeeded in promoting strong and stable growth because it has embraced free NEOLIBERALISM OR NEOCOLONIALISM? EVALUATING NEOLIBERALISMSEE MORE ON DEVELOPINGECONOMICS.ORG DEVELOPING ECONOMICS May 21, 2021 Developing Economics Leave a comment. In April 2021, Ivan Duque’s administration presented a tax reform bill labeled “Law of Sustainable Solidarity” to Congress. The bill contemplated an increment of the VAT on basic goods in conjunction with an increase in the marginal tax rates on the income of the so-called Colombian THE PATHOLOGY OF ECONOMICS COVID-19 exposes the deadly dominance of neoclassical economics in Africa. On February 24, 2021 Ghana received a vaccine shipment (600,000 doses), the first to sub-Saharan Africa under the COVAX facility. It amounted to a tiny fraction of the hundreds of millions needed on a continent increasingly ravaged by the pandemic. Contrastthis to the tens
HIDDEN ABODES IN PLAIN SIGHT: WHAT THE COVID-19 PANDEMIC By Sara Stevano, Alessandra Mezzadri, Lorena Lombardozzi and Hannah Bargawi After over a year of suffering, death and profound transformations of everyday life, it is time to take stock of the COVID-19 crisis so far and craft visions for a future centred on the value of social reproduction. In our article ‘Hidden Abodes in Plain WHAT IS A DEVELOPED COUNTRY? Any discussion of economic development - either implicitly or explicitly - contains the distinction between developed countries and developing (or under-developed) countries. While there are many theories on what promotes development and how best to achieve it, in all cases the goal is for a country to eventually become ‘developed’. This begs the question - A NEW WASHINGTON CONSENSUS ON THE ROLE OF THE STATE By Ilias Alami, Adam Dixon and Emma Mawdsley. In a recent op-ed, Martin Sandbu of the Financial Times argues that “the conversion by the IMF and World Bank to support the activist state would put Saul of Tarsus to shame.” According to him, we may be witnessing the rise of a new Washington Consensus, which embraces deficit spending (by rich countries), “temporary solidarity THE SOCIALIST MARKET ECONOMY IN CHINA, VIETNAM AND LAOS: A By Jo Inge Bekkevold, Arve Hansen and Kristen Nordhaug China, Vietnam and Laos have for three decades been among the fastest growing economies in the world. In other words, three of the best growth performers in global capitalism are authoritarian states led by communist parties with socialism as the official development goal.This fact has
ECONOMICS THROUGH THE LENS OF WOMEN There is a long-standing debate on how economics as a subject is gender blind giving rise to various branches within the subject that seek to address ‘the woman question’ (as early feminism has been labeled) within the discipline. Giandomenica Becchio’s book A History of Feminist and Gender Economics is not merely an attempt tounderstand
LATIN AMERICA: STILL CAUGHT IN THE CAPITAL FLOWS TRAP In a recent article, I discussed the poor state of Latin American economies drawing on some rather obscure works by Raúl Prebisch, explicitly addressed to the disturbing role of capital flows on (primarized and open) Latin American economies.I find that the post-2008 cyclical trend of capital flows is an exacerbated version of what has been affecting Latin America since the days of Prebich . DEBUNKING THE ‘FREE MARKET MIRACLE’: HOW INDUSTRIAL POLICY Assessing industrial policies in Chile remains a rather contentious and divisive topic. Chile has long been held up as an almost‐textbook example of the success of ‘letting the market work’, as there was a broad agreement among mainstream economists that Chile has largely succeeded in promoting strong and stable growth because it has embraced free NEOLIBERALISM OR NEOCOLONIALISM? EVALUATING NEOLIBERALISMSEE MORE ON DEVELOPINGECONOMICS.ORG WHAT IS A DEVELOPED COUNTRY? Any discussion of economic development - either implicitly or explicitly - contains the distinction between developed countries and developing (or under-developed) countries. While there are many theories on what promotes development and how best to achieve it, in all cases the goal is for a country to eventually become ‘developed’. This begs the question - FROM POST-MARXISM BACK TO MARXISM? The Handbook of Marxism and Post-Marxism I co-edited with Alex Callinicos and Stathis Kouvelakis aims to present the development of Marxism as a militant tradition in dialogue with other traditions and within itself. Even if it was conceived almost six years ago, the multiple crises we are confronting today – economic, political, social, gender, environmental LAND, PROPERTY, TECHNOLOGY: INTERROGATING AN Land has served as a central means of sustenance, but also as a nexus of wealth and power for people throughout the ages. The World Bank has estimated that more than seventy percent of the world’s population lack access to legally registered land titles. Existing land registries are centralized databases, vulnerable to corruption anddestruction.
DEBUNKING THE ‘FREE MARKET MIRACLE’: HOW INDUSTRIAL POLICY Assessing industrial policies in Chile remains a rather contentious and divisive topic. Chile has long been held up as an almost‐textbook example of the success of ‘letting the market work’, as there was a broad agreement among mainstream economists that Chile has largely succeeded in promoting strong and stable growth because it has embraced free UNDERSTANDING DEVELOPMENT IN A GLOBAL VALUE CHAIN WORLD By Benjamin Selwyn and Dara Leyden The recent period of globalisation – following the collapse of the Eastern bloc and the integration of China into the world economy – is in essence the period of global value chains (GVCs). From low to high-tech, basic consumer goods to heavy capital equipment, food to services, goods are THE USE AND ABUSE OF THE PHRASE “GLOBAL PUBLIC GOOD A flawed understanding of the concept of “public good” hampers the fight for equitable access to the upcoming COVID-19 vaccine The term “global public good” has been used in very different ways by policy makers, economists and others. The term “global” is not particularly controversial, and in this context is generally understood to involve cases MULTILATERAL DEVELOPMENT BANKS: A SYSTEM OF DEBT OR By Susan Engel and Adrian Bazbauers Most people interested in development know about the World Bank and probably some of the bigger regional development banks, like the Asian Development Bank. But few people realise there is a system of 30 functioning multilateral development banks (MDBs). Indeed, we did not initially realise therewere quite so
THE CHANGING FACE OF IMPERIALISM: COLONIALISM TO These are the questions we deal with in our edited volume on The Changing Face of Imperialism (2018). We understand imperialism as a continuing arrangement since the early years of empire-colonies to the prevailing pattern of expropriations, on part of those who wield power vis-à-vis those who are weak. The pattern of ‘old imperialism’,in
COVID-19: A BIGGER CHALLENGE TO THE INDIAN HEALTHCARE Covid-19 has reached the community spread phase. Developed or underdeveloped, rich or poor, all countries are affected by this today. However, they are facing these challenges - shortages in medical supplies and difficulty stopping its spread - in different magnitudes. In an attempt to stop the spread to save lives, Prime Minister Narendra Modi announced NEOLIBERALISM OR NEOCOLONIALISM? EVALUATING NEOLIBERALISM Bradford deLong has recently argued that neoliberalism provides a way for former colonies to close the gaps with their erstwhile colonial masters. But this argument ignores the fact that several economic policies of colonial times were explicitly laissez-faire in nature. The recognition of the dangers of allowing finance a free hand in theeconomy has
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DEVELOPING ECONOMICS A CRITICAL PERSPECTIVE ON DEVELOPMENT ECONOMICS NEOLIBERALISM AND RESISTANCE IN SOUTH AFRICA: ECONOMIC AND POLITICAL COALITIONS __June 1, 2021May 18, 2021__ans012 __Leave a
comment
In the first quarter of 2021, amidst the social and economic devastation wrought by the Covid-19 pandemic, the South AfricanTreasury announced
,
and subsequently defended, its decision to refrain from increasing the country’s extensive social grant payments—which now reach 18 million impoverished citizens—beyond the growth in inflation. Treasury officials have argued that a larger increase in social welfare protection is simply not currently feasible given the country’s rapidly rising public debt—which has now breached 80% of the debt/GDP ratio—and investor demands for fiscal consolidation. This type of fiscal restraint is unfolding in a context of heightened wealth inequality and an official unemployment rate now above 30%. Those familiar with the financialization scholarship pertaining to developing countries—that strand which portrays the global financial markets as a force that can alter committed policy trajectories on awhim (Koelble,
2004), as well as the more nuanced literature (Mosley,2000; Hager,
2017;
Streeck,
2014; Ansari,
2017)—may recognize the Treasury’s framing of South Africa’s fiscal dilemma. However, as much of the international development literature on industrial upgrading and state policy has noted (Wade,2018;
Alami, 2019;
Rodrik,
2006),
there is a third option available to policy-makers in developing countries beyond the binary of debt build-up vs. austerity; namely, _comprehensive, employment generating state-led development._ This is precisely the case I make in my new book, published by Palgrave (2021), _Neoliberalism and Resistance in South Africa: Economic and Political Coalitions__. _In
addition to documenting the onset of a financialized accumulation regime in post-apartheid South Africa since the democratic transition and the ANC’s adoption of economic liberalization, the monograph also highlights the missed opportunities that could have allowed the country to embark on a self-sustaining path of industrial up-grading, inclusive development, and internal revenue generation. Such missed opportunities include the early rejection by party leaders of the heterodox “Macro-Economic Research Group” (MERG) policy cluster, the removal of the trade unions from broader macro-policy-making processes, the rejection of a modest reconstruction and wealth tax, and the abandonment of much of the “Reconstruction and Development Program” (RDP) platform in favor of the orthodox “Growth, Employment, and Redistribution” (GEAR) package in 1996. Had some of these missed opportunities been pursued, South African state officials would likely be in a much better position to currently adopt expansionary fiscal policies, and perhaps could have lifted their citizens out of poverty via inclusive development instead ofcash-transfers.
Yet, as my monograph further documents, since the democratic transition Treasury officials have continued, despite recommendations from other government ministries such as the Department of Trade and Industry (DTI), to veto or oppose heterodox policy proposals that could potentially offer South Africa a path away from the current neoliberal quagmire. Such proposed polices include capital controls, export taxes on raw materials, the utilization of foreign exchange reserves to capitalize State-Owned-Enterprises (SOEs), and targeting specific industrial sectors for subsidies and state promotion.Read More »
FINANCIALISATION OF HEALTHCARE IN BRAZIL: NEW EVIDENCE __May 29, 2021May 3, 2021 __Norberto Montani Martins__Leave
a comment
By NORBERTO MONTANI MARTINS,
CARLOS OCKÉ-REIS and DANIEL DRACH The covid-19 pandemic is showing how important universal health systems are. As the virus continues to devastate communities and economies, many governments have started to look at them with different lens. Investing in public health systems should be mandatory, but austerity policies in peripheral countries are still the priority. Moreover, the increasing financialisation of the health sector produces conflicts that constraint the achievement of a truly universal and comprehensive public healthcare. This is what we address in our _recent paper__,
_where we argue that lead firms in the provision of healthcare plans seem to have become platforms for the accumulation of wealth by financial investors, a process that is making shareholder value the main guiding principle of firm behaviour. A good example of such contradictions is Brazil. A universal health system called the Unified Health System (Sistema Único de Saúde, or SUS) was established in the 1988 Constitution. However, it would be misleading to affirm it has provided universal access and comprehensive care: since its inception, SUS faced an inadequate low level of public spending that jeopardized its mission. In the 2000s, the Brazilian government eventually increased public spending in healthcare, but a kind of paradox emerged as it also set up many policies to foster private healthcare and private accumulation in that sector (e.g., health-related tax expenditures).Read More »
WHAT YOU EXPORTED MATTERS: PERSISTENCE IN PRODUCTIVE CAPABILITIES ACROSS TWO ERAS OF GLOBALIZATION __May 25, 2021May 18, 2021__isabellamweber
__1 Comment
_This blog was first published on the Rebuilding Macroeconomicswebsite
._
By ISABELLA WEBER
, TOM WESTLAND
and MAYA MCCOLLUM
“The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, in such quantity as he might see fit, and reasonably expect their early delivery upon his doorstep…” This was how John Maynard Keynes described the globalisation of the Belle Epoque before the First World War. London, and by extension Britain, was at the centre of the world economy: not just a global manufacturing powerhouse, but also the ruler of a vast colonial domain upon which the sun famously never set. The global division of labour was stark: Britain and other Western nations largely produced manufactured goods. But they also exported a whole range of temperate agricultural goods like wheat, beef and barley. Elsewhere in the European colonial empires, products like cotton, cocoa and coffee were exported, often at very low prices and sometimes with forced labour, to sate a growing demand in the global economic core for tropical luxuries. More than a century has passed since World War I heralded the collapse of this world order. Today, another globalization wave that has shaped the world since the 1980s is ebbing. The question we ask in our ESRC Rebuilding Macroeconomics project _What Drives Specialisation? A Century of Global Export Patterns_is
simple: what is the legacy of the First Globalization of the late nineteenth and early twentieth centuries on the economic fortunes of countries during the Second Globalization? Or in other words, to what extent have countries’ positions in the international economic order been persistent across the two globalizations with some trapped at the bottom and others floating on top? To answer this question, we have assembled a large new database of global commodity exports from 1897-1906. We exploit the fact that this period was the high point of colonial trade statistics and use a large variety of primary sources in five languages. To the best of our knowledge, ours is the most ambitious census of world trade for the previous globalization to date. This allows us to investigate the long-term wealth of nations in ways that aren’t possible with GDP data. The latter is sparse and unreliable for large parts of the world before the Second World War.Read More »
FOR A NEW MACROECONOMIC POLICY IN COLOMBIA__May 21, 2021
__Developing Economics__Leave a
comment
In April 2021, Ivan Duque’s administration presented a tax reform bill labeled “Law of Sustainable Solidarity” to Congress. The bill contemplated an increment of the VAT on basic goods in conjunction with an increase in the marginal tax rates on the income of the so-called Colombian middle class. The vast majority of whom earns monthly less than 4,000,000 Colombian pesos (around 1,065 U.S. dollars). Although the bill put on the table contained some crucial elements for discussion, such as implementing a “basic monthly income” of 21 U.S. dollars (by far less than the current minimum wage). It contained little or nothing to effectively tackle Colombia’s high social and income inequality (with an official GINIof 0.526 for 2019).
The tax reform bill was presented in the mid of a severe economic and social crisis that had worsened due to the pandemic and against which the Colombian government has done hitherto little beyond the orthodox recipes. This triggered a general strike and nationwide social mobilizations that have already lasted over more than two weeks without any clarity as to their resolution as yet. The current social protest can be considered a continuation of a general strike that erupted at the end of 2019 and got into a rest due to the pandemic. Yet, many elements behind the social movement go beyond dissatisfaction with the tax reform bill. Since 2016 after the peace deal between the Colombian government and the FARC, which used to be the oldest and biggest guerrilla in Colombia, the government hasn’t implemented most of the elements contemplated in the peace agreement. Also, although Colombia has had macroeconomic stability for more than 20 years, an indicator such as the official unemployment rate has consistently been above 10%. The level of poverty before the COVID-19shock was near 32%.
Thus, the following question arises, what does it mean to have macroeconomic stability to the population? A call to think outside the box on what the government can or can’t do must be considered under other lenses. In view of the worsening of the social, political, and economic crisis in Colombia and the need to develop economic policy alternatives to the government’s orthodox position, a group of citizens and academicians wrote the open letter below to respond to those who argue the TINA mantra and believe that there’s a consensus in economics to support tax reforms amidst the COVID-19 epidemic.Read More »
LAND, PROPERTY, TECHNOLOGY: INTERROGATING AN INFRASTRUCTURAL PROMISE __May 20, 2021May 14, 2021__daivirt __Leave a
comment
Land has served as a central means of sustenance, but also as a nexus of wealth and power for people throughout the ages. The World Bank has estimated that more than seventy percent of the world’s population lack access to legally registered land titles. Existing land registries are centralized databases, vulnerable to corruption and destruction. There is an increasing turn towards emerging technologies such as blockchain for recording the relationships between people and land, coordinating and synchronizing that data for efficient governance, and making the information publicly available. This essay explores the abstraction of blockchain as employed for formalizing land rights in emerging economies. Behind the seemingly neutral façade of the technology, diverse aspirational claims and narratives guide its implementation in different societies, shaped by particular histories and socio-political contexts. This highlights the need to explore blockchain-based land registries as distributed knowledge infrastructures, uncovering their broader embeddedness in older, non-digital modalities, and the “peopled infrastructures” of informal networks with their histories and cultural repertoires. As digital technologies can facilitate an illusion of enhanced visibility of some elements while obscuring others, I argue that more attention is needed to the role of broader colonial legacies and enduring North-South inequalities that frequently remain backgrounded in the adoption of such technologies. An increasing number of governments are investigating the prospects of transferring their land registries to blockchain (Graglia and Mellon2018
).
Blockchain applications are explored as enabling the formalization of property rights in the countries of the Global South, as well as providing more efficient coordination of real property markets in the Global North. Blockchain registries have several advantages as compared to centralized digital or paper-based databases. Records on blockchain are distributed and verified by a multitude of nodes in a peer-to-peer digital network, affording them more transparency and resilience. As new additions to the chain of blocks are cryptographically time-stamped, this makes tampering or accidental data loss less likely. Auto-executing “smart contracts” that transform legal agreements into code could mediate contracts (De Filippi and Wright, 2018).
Read More »
DEBUNKING THE ‘FREE MARKET MIRACLE’: HOW INDUSTRIAL POLICY ENABLED CHILE’S EXPORT DIVERSIFICATION __May 17, 2021May 14, 2021__amirlebdioui
__2 Comments
Assessing industrial policies in Chile remains a rather contentious and divisive topic. Chile has long been held up as an almost‐textbook example of the success of ‘letting the market work’, as there was a broad agreement among mainstream economists that Chile has largely succeeded in promoting strong and stable growth because it has embraced free market policies. At first glance, this may seem believable. Afterall, Chile has one of the fastest growth rates in Latin America since its neoliberal turn in the 1970s. Despite the continuing significance of copper, it has also managed to diversify into other sectors and acquire new competitive advantages between the 1960s and 1990s. The dominant view sustains that the successful emergence of new competitive sectors in Chile’s export basket are the result of four decades of commitment to liberalization and free market policies. However, this post, which is based a recentstudy ,
shows that Chile’s export diversification was not the result of free market policies, but of carefully crafted government interventions. The idea of Chile as a ‘free-market miracle’, as first described by Milton Friedman, is therefore one of the most enduring myths associated with recent economic development history.Read More »
THE POWER OF PRIVATE PHILANTHROPY IN INTERNATIONAL DEVELOPMENT __May 10, 2021May 15, 2021 __Arun Kumar __Leavea comment
By ARUN KUMAR and
SALLY BROOKS
In 1959, the Ford and Rockefeller Foundations pledged seven million US$ to establish the International Rice Research Institute (IRRI) at Los Baños in the Philippines. They planted technologies originating in the US into the Philippines landscape, along with new institutions, infrastructures, and attitudes. Yet this intervention was far from unique, nor was it spectacular relative to other philanthropic ‘missions’ from the 20th century. How did philanthropic foundations come to wield such influence over how we think about and do development, despite being so far removed from the poor and their poverty in the Global South? In a recent paper published in the journal _Economy and Society_,
we suggest that metaphors – bridge, leapfrog, platform, satellite, interdigitate – are useful for thinking about the machinations of philanthropic foundations. In the Philippines, for example, the Ford and Rockefeller foundations were trying to _bridge_ what they saw as a developmental lag. In endowing new scientific institutions such as IRRI that juxtaposed spaces of modernity and underdevelopment, they saw themselves bringing so-called third world countries into present–day modernity from elsewhere by _leapfrogging_ historical time. In so doing, they purposively bypassed actors that might otherwise have been central: such as post–colonial governments, trade unions, and peasantry, along with their respective interests and demands, while providing _platforms_ for other – preferred – ideas, institutions, and interests to dominate.Read More »
CENTER-PERIPHERY RELATIONSHIPS OF PHARMACEUTICAL VALUE CHAINS __May 4, 2021April 15, 2021__Cristina Reis
__Leave
a comment
By CRISTINA FRÓES DE BORJA REISand
JOSÉ PAULO GUEDES PINTO It is well known that, during the 20th century, the pharmaceutical industry became extremely powerful at the international level, alongside financial, energy, technology, and manufacturing companies (Wells, 1984). The internationalization of the pharmaceutical industry only rose after the internationalization of patent protection in the Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPs Agreement) (Haakonsson, 2009). This
industry is highly concentrated around a small number of very large transnational groups (65% of global sales are made by the 20 largest players – the ‘big pharma’) that operate worldwide through subsidiaries in 150 countries, on average. Revenue in the worldwide pharmaceutical market increased at a considerable rate, even during the global slump of 2008, and was estimated at an astounding USD1.143 trillion in 2017 (Statista, 2019).
Recently, we published an article on pharmaceutical value chains, which investigates how they are embedded in an international division of labor, from a new-structuralist theoretical perspective. We ask: how global are the pharmaceuticals value chains? Are there centers and peripheries in pharmaceuticals value chains, and if so, which countries are in eachpole?
Read More »
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* Neoliberalism and Resistance in South Africa: Economic and Political CoalitionsJune 1, 2021
* Financialisation of healthcare in Brazil: new evidenceMay 29, 2021
* What You Exported Matters: Persistence in Productive Capabilities across Two Eras of GlobalizationMay 25, 2021
* For a new macroeconomic policy in ColombiaMay 21, 2021
* Land, property, technology: interrogating an infrastructural promiseMay 20, 2021
* Debunking the ‘Free Market Miracle’: How industrial policy enabled Chile’s export diversificationMay 17, 2021
* The power of private philanthropy in international developmentMay 10, 2021
* Center-periphery relationships of pharmaceutical value chainsMay 4, 2021
* Community Infrastructure and the Care Crises: An Evaluation of China’s COVID-19 ExperienceApril 30, 2021
* “Are we all in this together?”: Reflecting on a year of COVID-19 marketing messagesApril 27, 2021
* Understanding development in a Global Value Chain World: Comparative Advantage or Monopoly Capital Theory?April 22, 2021
* A new Washington Consensus on the role of the state?April 15, 2021
* The Changing Face of Imperialism: Colonialism to Contemporary CapitalismApril 13, 2021
* Enduring Relevance: Samir Amin’s radical political economyApril 11, 2021
* The Washington Counterfactual: don’t believe the Washington Consensus resurrectionApril 8, 2021
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