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In this paper, we present the foundations and results for a new rent database on mining land in Chile (1940–2017), which takes into account not only the surplus profits of the sector, but also the different mechanisms in which this land is appropriated by other social actors. The results are weighted in relation to the whole national economy, which is why an original time series of the general rate of profits and its components, surplus-value and total advance capital, is also provided. In this paper, we posit a methodological foundation based on Marx's developments and a critical review of the existing statistics and previous measures. The results are original as they are the first long-run time series of mining land rent which considers the main appropriation mechanisms by different social actors. In turn, it shows that previous studies underestimate the weight of mining land rent in the Chilean economy, particularly when the prices of copper are rising. In addition, the results make it possible to pose new questions regarding the development of the national specificity considered. As a result of this new evidence, we indicate specific determinations of the different political cycles in Chilean national life, showing the historical persistency of mining land rent beyond changes in its appropriation forms and, therefore, stepping outside of the import substitution industrialization and neoliberalism dichotomy, which dominates the long-run economic historiography in this country.
This chapter aims to redescribe the IPCC through the analytical framework of the book by identifying the actors, activities and forms of authority that shape the organisation and its assessment practice. Reviewing existing studies of the IPCC, the chapter begins by identifying two central concerns within this scholarship: first, the relationship between science and politics and second, the asymmetries between developed and developing country participation. The chapter contributes to this literature by using the framework of the book to identify the IPCC as five distinct units: the panel, the bureau, the technical support units (TSUs), the secretariat and the authors. This identifies other forms of authority that matter alongside scientific and political forms, most importantly the administrative, as found within the TSUs. Describing the historical emergence of the social order over thirty years and six assessment cycles reveals the relationship between economic capital and meaningful participation. It requires economic and human resources to undertake IPCC activities, and it through this investment individual actors and member government becomes meaningful and authoritative participants, with knowledge of and the symbolic power to write the meaning of climate change.
The role of capital in measuring resilience is investigated. Focusing on the current short-run and potential long-run growth paths of the economic system, we propose new indexes to separately measure adaptability and resistance to shocks, which are the essence of a system’s resilience. Capital dynamics during the transition and along the balanced growth path are used here instead of employment to represent the evolution of the size and composition of the economy. Our indexes measure adaptability and resistance by comparing the two capital growth rates. They are built by mimicking the average and variance of the difference in growth rates. In this new setting, investment and depreciation flows play an important role in explaining what the partial index of adaptability reveals. The available data on the USA and Spanish capital allow us to empirically compute the indexes and draw conclusions about their ability to resist shocks and absorb their effects. We conclude that the US economy is more adaptable and has a greater capacity to absorb impacts than the Spanish economy, but it is less resistant to disturbances.
Chapter 6 relates how David establishes his position as Saul’s successor and has considerable achievements as king, acquiring a capital, planning a temple, and receiving God’s promise of a dynasty to succeed him.
This article contributes to historiographical examinations of gender and capitalism in eighteenth-century India. Focusing on the fragile nature of revenue farming ventures in this period, the article illustrates how propertied women in the Eastern Gangetic plains used matriarchal authority and affect to lead their agrarian and mercantile family firms into commercial transactions. The article shows that the household was the locus of these commercial relationships and that of the competing and layered sovereignties of distinct state and non-state actors. At the same time, matriarchs exercised their authority beyond it. Travelling in palanquins, or having their kin conduct transactions on their behalf, they asserted their maternal authority and social status in different publics to protect their firms’ interests. In a second key argument, the article suggests that Mughal law, fostered by native officials in the early colonial courts in Banaras, facilitated propertied women’s participation in this economy. Matriarchs demonstrated a keen understanding of this fractured jurisdictional landscape and used it to their advantage as they manoeuvred from one legal forum to another. The third argument of this article illustrates that colonial regulations redefined, and could even compromise, propertied women’s engagements in land revenue transactions. These shifts were made possible through the mobilization of gender and specific understandings of womanhood and the household. In this article, I show that these attempts to disenfranchise propertied women in Banaras were intimately connected to the Company’s vision of a colonial public in which it could monopolize sovereignty.
This chapter describes the key changes in terms of money, credit and banking in the 1000 to 1500 period within the various kingdoms. It highlights how after a period of late monetization, each Christian kingdom transitioned to centralized models that were well-articulated with their European counterparts while keeping important distinctive traits. Nevertheless, the demand for means of payment on behalf of kings, merchants and other agents stimulated the development of credit. The need for credit spanned the entire Peninsula and the urban/rural divide. Thus, all countries saw the emergence of lively credit markets for (mostly private) borrowers, buttressed by functioning courts and regulations. These markets involved both specialists and non-specialists, but it was only in the Crown of Aragon where financial agents transitioned to institutionalized banks.
Making money from plantations meant engaging in the circuit of West India trade regulated through a mercantilist system that protected the interests of the ‘mother country’. Long needed to demonstrate to his metropolitan readership that Jamaica brought great wealth to Britain and that the production of sugar depended on slavery. The circuit of the West India trade connected England, West Africa and the Caribbean through a complex set of relations, at the heart of which sat the merchant house. Long’s Uncle Beeston headed the West India house of Drake and Long in the City of London and Long was well aware of the centrality of merchants and the use of bills of exchange to facilitate the sugar and slavery business. Given the increasing criticism of the conditions of the slave trade by the early 1770s, he attempted to sanitize it. The merchants used legers, accounting and numeracy to distance themselves from the realities of slavery. They controlled the system of credit and debt on which this mercantile capitalist formation depended.
John Ruskin and Karl Marx – two heterodox economic thinkers writing in England in the 1860s – both considered production, circulation, and exchange in relation to the natural environment. After first discussing the imbrication of the economic and the ecological in their work, this chapter turns to George Eliot’s Felix Holt [GK19](1866) and Anthony Trollope’s Orley Farm [GK20](1861–62) to explore points of intersection between heterodox economic thought and literary realism. Focusing on soil fertility, an issue that evokes the uses of water, soil, and manure in service of capitalism, the chapter shows that Eliot and Trollope trace the ways in which ownership, labor, or trade transforms humans’ relations to animals, plants, and landscapes. Heterodox economic thought and literary realism in the 1860s took into account historical dimensions of the natural world, especially its economic involvement.
Adopting a sociological perspective, Chapter 1 examines the rise of the professional public moralist and situates early India reformism among concurrent campaigns such as transatlantic abolitionism, free trade, and aboriginal protection. It addresses the reformers’ acquisition of social and symbolic capital, the possibilities for “link-ups” between groups, and the controversies that inhibited cooperation. Agents of the British and Foreign Anti-Slavery Society, for instance, clashed with the reformers over their approach to the abolition of indigenous slavery in India and their connections to the heterodox American Garrisonians. Delving into these conflicts demonstrates that early advocates of “conservationist” reform were an embattled lot, contending with the obstructionism of a reactionary Company-state and the derision of detractors within the metropolitan philanthropic community as well.
This chapter follows microcosmic worlds figured in the skyscraper across three “Chicago Schools”: in architecture, in urban sociology, and in political economy. Three novels map three historical phases: Frank Norris’s The Pit (1902), the financialization of wheat in Chicago’s early skyscrapers; Richard Wright’s Native Son (1940), the “color line” and the public sphere on Chicago’s South Side; and Abdelrahman Munif’s Cities of Salt (1984), the landscapes of oil and steel in Dubai. In each the skyscraper appears fleetingly on the horizon, glimpsed out of the corner of the eye as it shifts scales from stage to prop. The three corresponding “Chicago Schools” are: the architects of early skyscrapers assembled around the slogan “form follows function”; the group of urban sociologists that included St. Clair Drake and Horace Cayton, authors of Black Metropolis (1945); and the economists who supplied the neoliberal precepts by which oil wealth was converted into speculative real estate in Dubai and elsewhere. The article concludes with a coda that records, with reference to the work of urban sociologist Janet Abu-Lughod and the writer Deepak Unnikrishnan, the stark divisions of labor that haunt these three “Chicagos” and their skyscrapers, from Lake Michigan to the Persian Gulf.
This introduction begins with a brief overview of the three major factors shaping economic life and exchange in India, as laid out by contributions in the edited volume Rethinking Markets in Modern India: embedded exchange, contested jurisdiction, and pliable markets. The overarching logic of all the contributions is that markets in India must be understood as path dependent, that is, expressing a historical trajectory and specific, and changing, political and moral regimes. The remainder of this introduction discusses the origins of the distinction between ‘economy’ and ‘culture’ in the nationalist critiques of empire and how these critiques have led to a widespread moral ambivalence vis-à-vis the commercialization of everyday life in India that persists today across the political spectrum.
Several scholars anticipated Ludwig von Mises's calculation argument against socialism. The present paper summarises the contributions by the members of the German Historical School of Economics who preceded Mises and provides several examples of anticipation that have not been discussed in the literature. Furthermore, the paper explains why it is not a coincidence that members of the Historical School claimed as early as the nineteenth century that socialism was unfeasible due to calculation and knowledge problems. In their attempts to understand historically specific features of capitalism, they developed an approach to capital that involved the institutions of private property, money, the market, the enterprise, and monetary calculation. Starting from this institutional approach to capital and capitalism, it was only a small step to the question of what it means for socialist systems that those institutions are lacking.
This chapter seeks to ground what follows in debates within the International Relations of the Middle East, with a particular focus on how scholars have sought to characterize the rivalry between Riyadh and Tehran. In a departure from these debates, the chapter seeks to understand Saudi and Iranian efforts to exert order over space. Lastly, it brings together geopolitical, ideational, and spatial analysis to set out a (comparative) framework to understand the impact of the rivalry between Saudi Arabia and Iran on local politics, and vice versa.
This article argues that street food was an essential part of the social reproduction of Mombasa's working class during the colonial period. Like in other expanding capitalist cities, as Mombasa grew, urban workers lived further from their place of employment, which meant they could not return home for their midday meal. Street-food vendors provided them lunch at low prices in convenient locations, and therefore reproduced the working day by provisioning the calories that bridged morning to afternoon. However, postwar municipal authorities also wanted to create a particular kind of urban society in which the ‘informal’ activities of street-food vendors did not fit, and tried to expel them from the city's streets. As these campaigns unfolded, an unresolved contradiction emerged between this elite view of Mombasa, and the reality that the services vendors provided were necessary for the reproduction of the city's economy.
Chapter 5 is based on the conviction that the problems dealt with in the preceding chapters need to be embedded into the larger multilingual ecologies in which they occur. Since language dominance has proven an important predictor of cross-linguistic influence, which, in turn, determines the acquisition of additional languages, including expectable benefits of previous multilingual experience, one needs to follow up on the factors that are responsible for language dominance. Evidently, these factors are related to or the result of various issues of language policy and planning – both explicit and implicit – that shape the language ecology encountered in a particular region, even down to the nuclear family. It makes a difference whether one studies these issues in traditional European monolingual ecologies where other languages are learnt as classic second or foreign languages, in de jure monolingual ecologies with high numbers of immigrant speakers of other languages, in bilingual territories where the two languages enjoy the same status, coexist peacefully, and where the number of balanced bilinguals is high, in bilingual or multilingual areas with minority languages or stigmatized languages, or in highly multilingual ecologies with a common lingua franca.
This chapter identifies the factors likely to influence employees, managers, and firms given that businesses operate within the context of capitalism. Several common presuppositions about capitalism are discussed – consumers know best, industry and innovation will be rewarded, growth should be encouraged, no centralized distribution, and individual self-interest always leads to mutual benefit. The term “market morality” is introduced as a background for factors such as spending on nonrecyclable goods or a focus on price rather than employee conditions where the goods are made, providing a means to identify consumer hypocrisy and corporate greenwashing. The implications of market failures such as oligopolies are noted, and questions about proper use of government regulation are raised. Moral concerns about the globalization of supply chains and varying normative standards around the world are also discussed, as well as the balance between World Trade Organization standards and national sovereignty. The fact that currencies and credit rely on the moral principle of trust is considered. The final case deals with the ethical concerns that are raised when international companies promote GMO crops to poorer countries.
To understand the structural dynamics of the current eurozone crisis, it is necessary to examine the longstanding internal contradictions that the system has inherited from its inception under the Maastricht Treaty and the neoliberal strategy which has governed its evolution from the first experiments in economic and monetary union in the 1970s. A brief narrative of the evolution of the European Monetary Union yields some insights into its peculiar institutional design. More specifically, the article examines the dangerously self-reinforcing logic between speculative bond markets and cascading, deflationary policies of austerity imposed on those countries encountering severe debt crises. This examination reveals the fragile foundations upon which the eurozone was constructed.
This volume explores how the circulation of goods, people, and ideas permeated every aspect of the continent’s cultural production at the turn of the century. We are interested not only in understanding how literature and the arts confronted the unprecedented penetration of global capital in Latin America, but also in exploring the ways in which rapidly transforming technological and labor conditions contributed to forging new intellectual networks, creating original discourses, exploring innovative forms of knowledge, and reimagining the material and immaterial worlds. This volume shows the new directions in turn-of-the-century scholarship that developed over the last two decades by investigating how the experience of capitalism produced an array of works that deal with primitive accumulation, transnational crossings, and an emerging technological and material reality in diverse geographies and a variety of cultural forms. The various contributions provide a novel understanding of the period as they discuss the ways in which particular commodities, intellectual networks, popular uprisings, materialities, and nonmetropolitan locations redefined cultural production at a time when the place of Latin America in global affairs was significantly transformed.
I argue for an egalitarian conception of market exchange that places the idea of equal power at the center of a procedural evaluation of markets. I explain the fundamental concept of equal power in markets and show that the egalitarian conception gives us a remedial basis for society shaping markets so that they allow a significant place for worker participation in firms. I use the phrase “worker participation” to mean that workers participate in the authoritative direction of the firm. This can include collective bargaining and worker management to introduce the kind of flexibility that is desirable in regulating market economies. Worker participation is a remedy to the presence of rigidities in markets that strongly favor authoritarian firms and that follow from and maintain unequal power in markets. The argument differs from the traditional argument that draws a parallel between state and firm, and so does not entail a general requirement of worker participation. It allows for some degree of participation of owners of capital also in the governance of firms.