scholarly journals Natural and Unnatural Paths

2009 ◽  
pp. 228-232 ◽  
Author(s):  
Gary Coyne
Keyword(s):  
Political Economy ◽  
Adam Smith ◽  
First Century ◽  
American Century ◽  
The World ◽  
Current Events ◽  
Rise Of China ◽  
Wealth Of Nations ◽  
The Rise Of China

Adam Smith in Beijing is Giovanni Arrighi’s attempt to make sense of the rise of China and the fate of the neo-conservative Project for a New American Century, while at the same time speculating about the role of East Asia in the twenty-first century. In interpreting these current events Arrighi draws much from The Wealth of Nations, Adam Smith classic of political-economy which proves to be surprisingly relevant despite being over two-hundred years old. One of the book’s unifying themes is Adam Smith’s prediction that one day “the inhabitants of all the different quarters of the world may arrive at that equality of courage and force, which by inspiring mutual fear, can alone overawe the injustice of independent nations into some sort of respect for the rights of one another” (p. 3).

scholarly journals Piketty’s Capital. The Revival of Political Philosophy, Political Economy and Social Sciences in the Light of the Declaration of Human and Citizens’ Rights in the French Revolution of 1789

2016 ◽  
Vol 10 (3) ◽  
Author(s):  
Øjvind Larsen
Keyword(s):  
Political Economy ◽  
French Revolution ◽  
Adam Smith ◽  
First Century ◽  
World Population ◽  
Classical Political Economy ◽  
The World ◽  
Wealth Of Nations ◽  
The French Revolution

Piketty’s Capital in Twenty-First Century has posed a totally new platform for the discussion of the economy and capitalism. Piketty has reinvented the classical political economy founded by Adam Smith in his 1776 Wealth of Nations. Piketty has shown via massive historical research how growth and inequality have developed since 1793. Piketty’s conclusion is that the French Revolution did not change the existing inequality either in the medium or in the long term. Piketty’s prediction is that a new form of global capitalism will arise, patrimonial capitalism, in which inequality will develop further and the 1% of the World population will control 95% of all wealth in the World.

The Chinese Century? The Challenges of Higher Education

Daedalus ◽  
2014 ◽  
Vol 143 (2) ◽  
pp. 145-156 ◽  
Author(s):  
William C. Kirby
Keyword(s):  
Higher Education ◽  
The United States ◽  
Global Leadership ◽  
First Century ◽  
Louis Xiv ◽  
The Past ◽  
Leadership In Higher Education ◽  
The World ◽  
Rise Of China ◽  
The Rise Of China

One can find in any airport kiosk books that proclaim ours to be “the Chinese century.” We have titles such as “The Dragon Awakes,” “China's Rise,” “The Rise of China,” and “China's Ascent,” to name but a few. But to rise is not necessarily to lead. What constitutes leadership? In higher education, China is building the fastest growing system–in quality as well as in quantity–in the world. The foremost global powers of the past four centuries all offered models in the realms of culture, ideas, and education. This may be said of seventeenth-century France under Louis XIV; of the Qing during the Qianlong reign of the eighteenth century; of Britain and Germany in the nineteenth century; and of the United States in the twentieth. China now aspires to educate global elites. For the twenty-first century, then, are Chinese universities poised for global leadership?

scholarly journals Thomas Piketty – The Adam Smith of the Twenty-First Century?

2020 ◽  
Vol 9 (4) ◽  
Author(s):  
Jacob Dahl Rendtorff ◽  
Øjvind Larsen
Keyword(s):  
Political Economy ◽  
Adam Smith ◽  
First Century ◽  
The World ◽  
Long Time ◽  
Twenty First Century ◽  
Thomas Piketty

Piketty’s book, Capital in the Twenty-First Century (2014) has become a bestseller in the world. Two month after its publication, it had sold more than 200.000 copies, and this success will surely continue for a long time. Piketty has established a new platform to discuss political economy.

The Tercentenary of Henry Martyn's Considerations upon the East-India Trade

2002 ◽  
Vol 24 (2) ◽  
pp. 233-249 ◽  
Author(s):  
Andrea Maneschi
Keyword(s):  
Political Economy ◽  
Eighteenth Century ◽  
Free Trade ◽  
Adam Smith ◽  
Economic Welfare ◽  
Real Cost ◽  
Classical Political Economy ◽  
Wealth Of Nations ◽  
The Impact

Henry Martyn's Considerations Upon the East-India Trade, published anonymously in 1701, stands out as a major contribution to the field of political economy that took root in Britain in the eighteenth century, and to the demonstration of the gains from free trade (Martyn 1701). Martyn provided one of the earliest formulations (and by far the clearest) of what Jacob Viner termed the “eighteenth-century rule” for the gains from trade, that “it pays to import commodities from abroad whenever they can be obtained in exchange for exports at a smaller real cost than their production at home would entail” (Viner 1937, p. 440). The numerical examples that Martyn used to illustrate it went even beyond the case for free trade advanced seventy-five years later by Adam Smith in The Wealth of Nations. Martyn's tract contains other remarkable insights that became important features of classical political economy, such as the nature and advantages of the division of labor, the dependence of the latter on the extent of the market, the workings of a market economy, the role of money, and the impact of international trade on resource allocation, on productivity, and on economic welfare.

Comparative Political Economy

2017 ◽  
Author(s):  
Georg Menz
Keyword(s):  
Political Economy ◽  
Political Institutions ◽  
International Political Economy ◽  
Adam Smith ◽  
Industrial Relations ◽  
Welfare States ◽  
Comparative Political Economy ◽  
Technological Parameters ◽  
Private Debt

This new and comprehensive volume invites the reader on a tour of the exciting subfield of comparative political economy. The book provides an in-depth account of the theoretical debates surrounding different models of capitalism. Tracing the origins of the field back to Adam Smith and the French Physiocrats, the development of the study of models of political-economic governance is laid out and reviewed. Comparative Political Economy (CPE) sets itself apart from International Political Economy (IPE), focusing on domestic economic and political institutions that compose in combination diverse models of political economy. Drawing on evidence from the US, the UK, France, Germany, Sweden, and Japan, the volume affords detailed coverage of the systems of industrial relations, finance, welfare states, and the economic role of the state. There is also a chapter that charts the politics of public and private debt. Much of the focus in CPE has rested on ideas, interests, and institutions, but the subfield ought to take the role of culture more seriously. This book offers suggestions for doing so. It is intended as an introduction to the field for postgraduate students, yet it also offers new insights and fresh inspiration for established scholars. The Varieties of Capitalism approach seems to have reached an impasse, but it could be rejuvenated by exploring the composite elements of different models and what makes them hang together. Rapidly changing technological parameters, new and more recent environmental challenges, demographic change, and immigration will all affect the governance of the various political economy models throughout the OECD. The final section of the book analyses how these impending challenges will reconfigure and threaten to destabilize established national systems of capitalism.

scholarly journals HOW SHOULD WE RECONCILE SELF-REGARDING AND PRO-SOCIAL MOTIVATIONS? A RENAISSANCE OF “DAS ADAM SMITH PROBLEM”

2020 ◽  
Vol 37 (1) ◽  
pp. 80-102
Author(s):  
Natalie Gold
Keyword(s):  
Adam Smith ◽  
Crowding Out ◽  
Private Interests ◽  
Self Interest ◽  
Intrinsic Motivations ◽  
Social Motivations ◽  
Motivation Crowding ◽  
Wealth Of Nations ◽  
Selfish Agents

Abstract“Das Adam Smith Problem” is the name given by eighteenth-century German scholars to the question of how to reconcile the role of self-interest in the Wealth of Nations with Smith’s advocacy of sympathy in Theory of Moral Sentiments. As the discipline of economics developed, it focused on the interaction of selfish agents, pursuing their private interests. However, behavioral economists have rediscovered the existence and importance of multiple motivations, and a new Das Adam Smith Problem has arisen, of how to accommodate self-regarding and pro-social motivations in a single system. This question is particularly important because of evidence of motivation crowding, where paying people can backfire, with payments achieving the opposite effects of those intended. Psychologists have proposed a mechanism for the crowding out of “intrinsic motivations” for doing a task, when payment is used to incentivize effort. However, they argue that pro-social motivations are different from these intrinsic motivations, implying that crowding out of pro-social motivations requires a different mechanism. In this essay I present an answer to the new Das Adam Smith problem, proposing a mechanism that can underpin the crowding out of both pro-social and intrinsic motivations, whereby motivations are prompted by frames and motivation crowding is underpinned by the crowding out of frames. I explore some of the implications of this mechanism for research and policy.

Mapping the intellectual public sphere in China today

2018 ◽  
Vol 32 (1) ◽  
pp. 107-120 ◽  
Author(s):  
Timothy Cheek ◽  
David Ownby ◽  
Joshua Fogel
Keyword(s):  
Public Sphere ◽  
New Left ◽  
Academic Scholarship ◽  
The World ◽  
The Status ◽  
Rise Of China ◽  
World Economic ◽  
Chinese Scholars ◽  
China Today ◽  
The Rise Of China

The papers in this research dialogue section are the product of a project that examines intellectual life in China since the 1990s – chiefly the efforts by academic public intellectuals to rethink China’s past, present, and future in light of the excesses of Mao’s revolution, the challenges emerging from reform, and the rise of China to the status of world economic power. Chinese scholars, having benefited from China’s openness to the world and the relative relaxation of political pressure in China (until recently), have much to say about China and the world that merits our attention. Through creative collaboration between Chinese and international scholars, the articles collected here explore that intellectual public sphere since the late 1990s. The articles were written in Chinese by young PRC scholars and rendered into English through ‘collaborative translation’ teams that pair these Chinese with non-Chinese scholars based in Canadian universities. The net result, grounded on repeated conversations and revisions, is not a simple translation but a co-production of knowledge about China that aims to capture the discourse of Chinese scholarship in a way to make it meaningful to anglophone readers. The articles themselves are not traditional surveys of academic scholarship. Rather they map significant areas of an intellectual world and the arguments within it. Three widely accepted intellectual streams of thought ( sichao 思潮) organize these soundings: liberals, New Left, and New Confucian. These reports explore connections between and diversity within and beyond each.

The political economy of currency internationalisation: the case of the RMB

2017 ◽  
Vol 43 (4) ◽  
pp. 765-787 ◽  
Author(s):  
Randall Germain ◽  
Herman Mark Schwartz
Keyword(s):  
Political Economy ◽  
Global Economy ◽  
Adjustment Costs ◽  
Critical Element ◽  
International Currency ◽  
Political Consequences ◽  
Trade Offs ◽  
Rise Of China ◽  
External Conditions ◽  
The Rise Of China

AbstractThe rise of China has sparked a debate about the economic and political consequences for the global economy of the internationalisation of the renminbi. We argue that the dominant focus of this literature – primarily the external conditions and requirements for a national currency to become an international currency – misspecifies the connections between the international and domestic requirements for currency internationalisation, as well as the potential to become the dominant international reserve currency. We correct this oversight by developing an integrated theoretical framework that highlights the domestic adjustment costs which a state must accommodate before its currency can carry the weight of internationalisation. These costs constitute a critical element of an international currency’s ‘political economy’, and they force states to negotiate contentious social trade-offs among competing domestic claims on finite public resources in a sustainable manner. Our analysis suggests that the likelihood of China being able to successfully negotiate the social costs associated with running a fully internationalised currency is currently very low, precisely because this will place unacceptable pressure on groups benefiting from the economic and political status quo. This further suggests that the American dollar will remain unchallenged as the global economy’s pre-eminent international currency for the foreseeable future.

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