scholarly journals Methodological individualism versus class analysis : the “great recession” as a test case.

Soft Power ◽  
2019 ◽  
Vol 6 (1) ◽  
pp. 32-57
Author(s):  
Emiliano Brancaccio ◽  
Gabriella Paul
Keyword(s):  
Economic Analysis ◽  
International Development ◽  
Great Recession ◽  
Social Reproduction ◽  
Temporal Dynamics ◽  
Interdisciplinary Approach ◽  
Essential Elements ◽  
Economic Thought ◽  
Social Classes ◽  
Capitalist Development

While the mainstream economic analysis relates with the other branches of social sciences in an “imperialistic” perspective, an alternative paradigm of social reproduction can contribute to develop an interdisciplinary approach to political economy. Originated in the contributions of Classical economists and Marx and currently developed by the critical schools of economic thought, the paradigm of social reproduction rejects the individualistic foundations of mainstream economics and recognize social classes and related conflicts on production and distribution as essential elements to make economic analysis consistent with the current reality of capitalist development and crisis. In this sense, the alternative paradigm suggests an interpretation of the recent “Great Recession” based on the specific anthropology of consumption of social classes within capitalism and its implications on the pace of aggregate expenditure. Empirical evidence gives support to this interpretation, which also offers some insights about the possible relations between the complex spatial and temporal dynamics of capitalist crisis and the international development of progressive social movements.

To Understand the Informal (on the Book BY V. L. Tambovtsev “Economics of Informal Institutions”)

2015 ◽  
pp. 151-158
Author(s):  
A. Zaostrovtsev
Keyword(s):  
Social Psychology ◽  
Detailed Analysis ◽  
Human Behavior ◽  
Interdisciplinary Approach ◽  
Informal Institutions ◽  
Economic Thought ◽  
History Of ◽  
Original Classification

The review considers the first attempt in the history of Russian economic thought to give a detailed analysis of informal institutions (IF). It recognizes that in general it was successful: the reader gets acquainted with the original classification of institutions (including informal ones) and their genesis. According to the reviewer the best achievement of the author is his interdisciplinary approach to the study of problems and, moreover, his bias on the achievements of social psychology because the model of human behavior in the economic mainstream is rather primitive. The book makes evident that namely this model limits the ability of economists to analyze IF. The reviewer also shares the author’s position that in the analysis of the IF genesis the economists should highlight the uncertainty and reject economic determinism. Further discussion of IF is hardly possible without referring to this book.

scholarly journals The epistemic configuration of Hume’s economic thought

2012 ◽  
Vol 37 (1) ◽  
Author(s):  
Iara Vigo Lima
Keyword(s):  
Economic Analysis ◽  
David Hume ◽  
Economic Thought ◽  
Philosophical Thought ◽  
Conditions Of Possibility ◽  
Ways Of Thinking ◽  
Economic Thinking

Eugene Rotwein wrote in his ‘Introduction’ to David Hume Writings on Economics that works on Hume’s economics have been primarily ‘internal’ studies. Beyond exploring Hume’s insights for understanding economic phenomena, they have investigated either the relations between his philosophical thought and his economic analysis or emphasised their psychological and historical elements. The perspective in this paper is ‘external’, dealing with Hume’s economic thought according to Michel Foucault’s approach to history. Foucault sees the ‘interiority’ of thought as a doubling of what is outside of thought. It is in this sense that Foucault investigates Hume’s context according to the concept of ‘episteme’, defining this as a set of relations that determines the ways of thinking. Foucault located Hume within the ‘classical episteme’ and I explore here his characterisation of that moment in order to understand the historical conditions of possibility of Hume’s economic thinking

Aristotle and the political economy of the polis

1979 ◽  
Vol 99 ◽  
pp. 57-73 ◽  
Author(s):  
Scott Meikle
Keyword(s):  
Political Economy ◽  
Economic Analysis ◽  
Market Economy ◽  
Fourth Century ◽  
Economic Thought ◽  
The Political ◽  
Process Of Change ◽  
Historical Process ◽  
Substantial Body ◽  
Moral Condemnation

Athens in the fourth century was undergoing a process of social and economic change of which a major component was the development of elements of market economy. The question to be addressed here is: what response does that historical process meet with in the work of Aristotle? I shall contend that Aristotle has a substantial body of thought, analytical in nature and intent, which is directed specifically to the analysis of that process. M. I. Finley has drawn quite the contrary conclusion, and in addition to developing my own account of Aristotle's thought 1 shall have to examine the shortcomings of Finley's. Finley takes the view that although Aristotle was aware of the process of change he simply ignored it, and that there is no trace of any analytical concern with it to be found in those sections of the Aristotelian corpus which it has been usual to regard as containing Aristotle's ‘economic’ thought, namely, NE v 5, and Pol i 8–10. Finley sees in Aristotle nothing more than moral condemnation of certain practices such as kapelike which he regarded as damaging to the koinonia of the polis.It sometimes happens that what one finds in an author depends on one's possession or lack of the equipment necessary to recognise what is there and to identify it for what it is. Finley is looking at Aristotle in order to determine the presence or absence of what he terms ‘economic analysis’.

scholarly journals Public Financial Accountability: A pre-requisite to the management of Development Assistance in Mozambique beyond 2015

2016 ◽  
Vol 4 (4) ◽  
pp. 554 ◽  
Author(s):  
Clive Makina ◽  
David Mago
Keyword(s):  
Sustainable Development ◽  
International Development ◽  
Financial Management ◽  
Development Assistance ◽  
Essential Elements ◽  
Sub Saharan Africa ◽  
Governance Mechanism ◽  
Financial Accountability ◽  
Public Financial Management ◽  
Development Goals

In Sub-Saharan Africa, Mozambique remains as one of the poorest countries in the region receiving large volumes of Development Assistance (DA) from the international donor community yet the majority of its population still continue to suffer from poverty. This article places much emphasis on efficient and effective Public Financial Management (PFM) as a key ingredient for the achievement of both the national and international development goals in Mozambique. Through a literature based study, the article acknowledges progress that has been recorded in the Millennium Development Goals. However, the paper considers the strengthening of PFM systems through enhanced accountability and transparency as essential elements in face of the recent global development commitment to the Sustainable Development Goals. A reviewof challenges experienced in the era of MDGs in the country points to a need for greater transparency and accountability in the management of DA if the country is to achieve the SDGs. Thus, arguing on the basis of the Agency theory, the article proposes the adoption of a stringent governance mechanism for Public Financial Management measures to shape government and donor financial accountability frameworks with the view of creating an enabling environment aimed at ensuring the achievement of Agenda 2025 and the 2030 Sustainable Development Goal (SDG) targets.

scholarly journals The Politics of Public Debt: Neoliberalism, Capitalist Development and the Restructuring of the State

2014 ◽  
Vol 15 (1) ◽  
pp. 143-165 ◽  
Author(s):  
Wolfgang Streeck
Keyword(s):  
Financial Markets ◽  
Great Recession ◽  
Public Debt ◽  
Initial Period ◽  
Capitalist Development ◽  
The Great Recession ◽  
General Decline ◽  
Political Economies ◽  
State Expenditure ◽  
State Functions

Abstract Rising public debt has been widespread in democratic-capitalist political economies since the 1970s, generally accompanied among other things by weak economic growth, rising unemployment, increasing inequality, growing tax resistance, and declining political participation. Following an initial period of fiscal consolidation in the 1990s, public debt took an unprecedented leap in reponse to the Great Recession. Renewed consolidation efforts, under the pressure of ‘financial markets’, point to a general decline in state expenditure, particularly discretionary and investment expenditure, and of extensive retrenchment and privatization of state functions.

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