Mass Atrocities and Their Prevention

Counting conservatively, data show about 100 million mass atrocity-related deaths since 1900. A distinct empirical phenomenon, mass atrocities are events of enormous scale, severity, and brutality, occur in wartime and in peacetime, are geographically widespread, occur with surprising frequency, under various systems of governance, and can be long-lasting in their effects on economic and human development, wellbeing, and wealth, more so when nonfatal physical injuries and mental trauma also are considered. As such, mass atrocities are a major economic concern. Given the multidisciplinary nature of the subject matter, the pertinent conceptual, theoretical, and empirical literatures are voluminous and widely dispersed, and have not been synthesized before from an economics point of view. We address two gaps: a “mass atrocities gap” in the economics literature and an “economics gap” in mass atrocities scholarship. Our goals are, first, to survey and synthesize for economists a broad sweep of literatures on which to base further work in this field and, second, for both economists and noneconomists to learn how economic inquiry contributes to understanding the causes and conduct of mass atrocities and, possibly, to their mitigation and prevention. In drawing on standard, behavioral, identity, social network, and complex systems economics, we find that the big puzzles of the “how” and “why” of mass atrocities, and mass participation therein, are being well addressed. While new research on such topics will be valuable, work should also progress to develop improved prevention approaches. (JEL D72, D74, K38, N40, Z13)

The Contributions of Stephen A. Ross to Financial Economics

Stephen A. Ross was one of the most influential scholars in the field of financial economics in the late twentieth century. Ross's work was central to several novel domains of economic inquiry. His contributions included the arbitrage pricing theory (APT), the risk-neutral pricing of contingent claims, the binomial option pricing model, a theory of the term structure of interest rates, a seminal contribution to the economic theory of agency, and insights about conditioning biases in ex post performance measurement. In this article, we discuss his seminal papers and the broad scope of his curiosity within the arc of a remarkably productive and influential career that spanned five decades and yet ended sooner than most who knew him expected. Expected final online publication date for the Annual Review of Financial Economics, Volume 13 is March 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

The Madman and the Economist(s): Georges Bataille and François Perroux as French Critiques of the Marshall Plan

This paper deals with the initial reception of the Marshall Plan by Georges Bataille and François Perroux in light of the discussion they held in the journal Critique, during the second half of 1948. I argue that Bataille and Perroux took the Marshall Plan as an enigma that current economic and political theories were not able to explain fully. And that in response, both authors contributed a unique and sophisticated economic analysis to transcend what they perceived as limited scope of economics. By focusing on this interdisciplinary dialogue, this paper is intended as a contribution to a history of economic thought taking in the economic inquiry of non-economists, and the ways in which they relate to professional economists.

Marxism, Economic Theory, and Asian American Literary Studies

As migrants who were drawn to North America to serve as cheap labor, questions of money, economy, and class have been central to Asian American experiences from the mid-19th century, and Marx’s critique of capitalism has circulated almost as long among Asian Americans and anticolonial, nationalist movements in Asia. However, the long history in the communist movement of the subordination of racial and gender inequality to a narrowly defined class struggle alienated many in US racialized communities. Subsequent interventions in Marxist theory leading to non-economically determinist accounts of social transformation have resulted in a post-Marxist Asian American literary and cultural studies. This is a theory, though, that is largely devoid of specifically economic inquiry, and this has led to the marginalization of questions of class, labor, and whiteness that might complicate questions about resistance to domination and capitalist hegemony. These elisions are only exacerbated in the turn to global and transnational frames of analysis, since the complexities of local racial dynamics are often lost in more abstract narratives and conceptual paradigms. The history of Japanese internment provides a case study that exemplifies some of the difficulties of evaluating the multiple forces motivating racial discrimination.