scholarly journals The Return of National Self-Sufficiency? Excavating Autarkic Thought in a De-Globalizing Era

2021 ◽  
Author(s):  
Eric Helleiner
Keyword(s):  
Intellectual History ◽  
International Political Economy ◽  
Economic Thought ◽  
John Maynard Keynes ◽  
New Politics ◽  
Self Sufficiency ◽  
National Economic ◽  
History Of ◽  
High Degree ◽  
Rich History

Abstract As the global crisis triggered by the COVID-19 virus unfolded, The Economist magazine published a cover in May 2020 titled “Goodbye globalization: the dangerous lure of self-sufficiency.” The title summed up well the new political interest in the ideology of national economic self-sufficiency in the pandemic context. Unfortunately, contemporary textbooks in the field of international political economy (IPE) say little about this kind of “autarkic” thought. No survey of the history of autarkic thought exists even within specialist IPE literature or in the fields of intellectual history and the history of economic thought. Filling this gap in existing scholarship, this article highlights a rich history of autarkic thought that includes the ideas of famous thinkers such as Jean-Jacques Rousseau, Johann Fichte, Mohandas Gandhi, and John Maynard Keynes. Three core rationales for a high degree of national self-sufficiency have been advanced in the past: (1) insulation from foreign economic influence, (2) insulation from foreign political and/or cultural influence, and (3) the promotion of international peace. At the same time, considerable disagreements have existed among autarkists about some of these rationales and their relative importance, as well as about the precise meaning of national self-sufficiency. These disagreements stemmed not just from differences in their specific goals but also from the different conditions across time and space in which autarkic thought was developed. In addition to improving understanding of the autarkic ideological tradition, this article contributes to emerging scholarship attempting to overcome Western-centrism in IPE scholarship as well as literature exploring the new politics of de-globalization in the current era.

The Pragmatic Basis of Keynes's Political Economy

1946 ◽  
Vol 6 (2) ◽  
pp. 121-152 ◽  
Author(s):  
Dudley Dillard
Keyword(s):  
Political Economy ◽  
Great Depression ◽  
Economic Thought ◽  
History Of Economic Thought ◽  
John Maynard Keynes ◽  
The Great Depression ◽  
Widespread Adoption ◽  
The Future ◽  
History Of ◽  
Second World

Although we still live in the shadow of the years between the First and the Second World Wars, already it seems quite clear that future historians of economic thought will regard John Maynard Keynes as the outstanding economist of this turbulent period. As one writer has recently said, “The rapid and widespread adoption of the Keynesian theory by contemporary economists, particularly by those who at first were highly critical, will probably be recorded in the future history of economic thought as an extraordinary happening.” Book after book by leading economists acknowledges a heavy debt to the stimulating thought of Lord Keynes. The younger generation of economists, especially those whose thinking matured during the great depression of the thirties, have been particularly influenced by him.

From Freakonomics to Political Economy

2012 ◽  
Vol 20 (3) ◽  
pp. 81-96 ◽  
Author(s):  
Ben Fine ◽  
Dimitris Milonakis
Keyword(s):  
Political Economy ◽  
Intellectual History ◽  
Second World War ◽  
Economic Thought ◽  
Neoclassical Economics ◽  
Economic Science ◽  
The Social ◽  
History Of ◽  
Second World

AbstractIn this response to the symposium on our two books we try to deal as fully as possible in the brief space available with most of the major issues raised by our distinguished commentators. Although at least three of them are in agreement with the main thrust of the arguments put forward in our books, they all raise important issues relating to methodology, the history of economic thought (including omissions), and a number of more specific issues. Our answer is based on the restatement of the chief purpose of our two books, describing the intellectual history of the evolution of economic science emphasising the role of the excision of the social and the historical from economic theorising in the transition from (classical) political economy to (neoclassical) economics, only for the two to be reunited through the vulgar form of economics imperialism following the monolithic dominance of neoclassical economics at the expense of pluralism after the Second World War. The importance of political economy for the future of economic science is vigorously argued for.

scholarly journals Journal of the History of Economic Thought Preprints - Keynes, Public Debt and the Complex of Interest Rates

2018 ◽  
Author(s):  
Anthony Aspromourgos
Keyword(s):  
Interest Rates ◽  
Term Structure ◽  
Public Debt ◽  
Public Investment ◽  
Private Investment ◽  
Economic Thought ◽  
History Of Economic Thought ◽  
John Maynard Keynes ◽  
History Of ◽  
Debt Market

John Maynard Keynes consistently offered qualified endorsement of Abba Lerner’s “functional finance” doctrine – the qualifications particularly turning on Keynes’s attentiveness to policy management of the psychology of the debt market. This article examines Keynes’s understanding of the possible influence of public debt on interest rates, from 1930 forward. With the multiplier a mechanism whereby debt-financed public investment generates matching private saving (net of private investment) plus public saving, it becomes possible for Keynes to conclude that increasing public debt need not place upward pressure on the level of interest rates, so long as policy can successfully manage the psychology of the debt market. This particularly concerns long interest rates and hence, the term structure of rates. His theory of the term structure enables Keynes’s conviction that policy can manage and shape long rates. The conclusion considers also whether Keynes’s caution concerning public debt and interest rates retains relevance today.

Economics in Perspective

2017 ◽  
Author(s):  
John Kenneth Galbraith ◽  
Richard Parker
Keyword(s):  
Twentieth Century ◽  
Great Depression ◽  
Industrial Revolution ◽  
Historical Context ◽  
Economic Thought ◽  
John Maynard Keynes ◽  
The Past ◽  
The Great Depression ◽  
The World ◽  
History Of

This book presents a compelling and accessible history of economic ideas, from Aristotle through the twentieth century. Examining theories of the past that have a continuing modern resonance, the book shows that economics is not a timeless, objective science, but is continually evolving as it is shaped by specific times and places. From Adam Smith's theories during the Industrial Revolution to those of John Maynard Keynes after the Great Depression, the book demonstrates that if economic ideas are to remain relevant, they must continually adapt to the world they inhabit. A lively examination of economic thought in historical context, the book shows how the field has evolved across the centuries.

Political Religion: A User’s Guide

2015 ◽  
Vol 24 (4) ◽  
pp. 623-638
Author(s):  
GEARÓID BARRY
Keyword(s):  
Twentieth Century ◽  
Intellectual History ◽  
Past Century ◽  
Spiritual Values ◽  
Intellectual Activity ◽  
New Politics ◽  
Political Religion ◽  
History Of ◽  
New Type ◽  
Liberal Individualism

In an article published in September 1939, in the very eye of the storm of twentieth-century Europe's ‘age of extremes’, the British historian Christopher Dawson attempted to get to grips with the temper of his times. Opining on what he saw as the failure of nineteenth-century liberal individualism and its deleterious encroachment on spiritual values, he wrote: Now the coming of the totalitarian state marks the emergence of a new type of politics which recognises no limits and seeks to subordinate every social and intellectual activity to its own ends. Thus the new politics are in a sense more idealistic than the old; they are political religions based on a Messianic hope of social salvation. But at the same time they are more realist since they actually involve a brutal struggle for life between rival powers which are prepared to use every kind of treachery and violence to gain their ends. When not researching medieval Christian encounters with the Mongols, Dawson wrote history with a grand narrative sweep such as he admired in the work of the German historian Oswald Spengler. His output has recently sparked a revival of interest, with claims that he was one of most significant Catholic historians of the century. Yet this Augustinian pessimist was only one of a broader band of contemporary intellectuals – not all of them religious apologists – to brandish the label of ‘political religion’ as a descriptor, and as a moral warning. Seventy years on, the same moral seriousness characterises several of the books under review here, especially those addressing the more terrifying consequences of political religion in its various forms. For as A. James Gregor declares when introducing his intellectual history of Totalitarianism and Political Religion, ‘the unnumbered dead of the past century’ are surely owed some posthumous explanation: Amid all the other factors that contributed to the tragedy, there was a kind of creedal ferocity that made every exchange a matter of existential importance. The twentieth century was host to systems of doctrinal conviction that made unorthodox belief a capital affront, made conflict mortal, and all enterprise sacrificial (Gregor, xi).

The Enlightenment's Animals

2019 ◽  
Author(s):  
Nathaniel Wolloch
Keyword(s):  
Eighteenth Century ◽  
Seventeenth Century ◽  
Intellectual History ◽  
Economic Thought ◽  
Economic Resources ◽  
Scottish Enlightenment ◽  
European Culture ◽  
History Of ◽  
Dramatic Shift ◽  
Long Eighteenth Century

In The Enlightenment’s Animals Nathaniel Wolloch takes a broad view of changing conceptions of animals in European culture during the long eighteenth century. Combining discussions of intellectual history, the history of science, the history of historiography, the history of economic thought, and, not least, art history, this book describes how animals were discussed and conceived in different intellectual and artistic contexts underwent a dramatic shift during this period. While in the seventeenth century and the first half of the eighteenth century the main focus was on the sensory and cognitive characteristics of animals, during the late Enlightenment a new outlook emerged, emphasizing their conception as economic resources. Focusing particularly on seventeenth-century Dutch culture, and on the Scottish Enlightenment, Wolloch discusses developments in other countries as well, presenting a new look at a topic of increasing importance in modern scholarship.

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