How Outside Money Makes Governing More Difficult

2020 ◽  
Vol 19 (4) ◽  
pp. 486-502
Author(s):  
Mike Norton ◽  
Richard H. Pildes
Keyword(s):  
Author(s):  
Joel Neville Anderson

Naruse Mikio was a popular and critically renowned Japanese film director who was active from the early 1930s to the mid-1960s. He completed eighty-nine films, of which sixty-seven survive. From a poor family and raised by his sisters, he began work as a prop assistant at Shochiku studios at the age of fifteen, where he would direct his first film ten years later. Beginning with slapstick comedies, Naruse’s interest in urban poverty and strong, if ill-fated female characters drew him to the josei-eiga (woman’s film) genre. By the mid-1930s he had moved to PCL (Photo-Chemical Laboratories, later incorporated into Toho Studios), where he would work for the following three decades, undertaking additional projects at Shintoho and Daiei. While his prewar silent pictures display early experimentation with voice-over, flashbacks, and montage sequences, his work in sound and later widescreen and color is characterized by exacting mise-en-scène, and quick unrelenting cuts following performers’ gestures and expressions. Naruse’s modernist economy of style moves at the pace of urban life, thrusting his female protagonists (often Takamine Hideko, who starred in seventeen of the director’s best-known films) into the financialization of interpersonal relationships, whereby yearning for love outside money and family is dulled by having to survive the daily hardships of patriarchal society and monetary debt.


2019 ◽  
Vol 44 (3) ◽  
pp. 491-505 ◽  
Author(s):  
James Culham

Abstract This paper revisits Keynes’s theory of liquidity preference to emphasise its reliance on liquidity. By clarifying the meaning of ‘liquidity’ in the context of the theory, it is argued that liquidity preference is not based on the demand for money, the most tradable asset, or a theory of bearishness. Instead, liquidity preference represents a demand for price-protected (capital-safe) assets, most directly inside and outside money, but also cash-equivalent quasi-money such as self-liquidating assets and security repurchase agreements (repo). The theory of liquidity preference explains that the public is willing to forgo interest income to hold short-term price-protected assets due to the capital and price uncertainty associated with relying on market liquidity, or how easy it is to convert an asset into money. It follows that the rate of interest is a monetary phenomenon and is determined independently of saving and investment.


Headline UNITED STATES: Outside money will shape campaigns


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