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The Habitats Directive is a key document for the protection of critical natural capital in the European Union. In a manner consistent with the understanding of sustainability in the European Commission, even critical natural capital is subject to trade-offs in favour of economic and social development. This is reflected in Articles 6(3) and 6(4) of the directive. This paper analyses the planning process leading to the approval of the expansion of the port of Rotterdam project – which will significantly affect Natura 2000 – against sustainability criteria. Although it shows that the directive is powerful to promote sustainable planning, the success of the case study was due mainly to elements specific to the particular planning process, namely the use of deliberative public participation mechanisms as well as specific assessment tools. Lessons are drawn and recommendations made to strengthen the Habitats Directive and the national planning processes in relation to projects potentially affecting Natura 2000 sites. Copyright © 2006 John Wiley & Sons, Ltd and ERP Environment. [ABSTRACT FROM AUTHOR]

Copyright of Antipode is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Estimating the contribution of enslaved workers to output and growth in the United States during the first half of the nineteenth century is a crucial building block to better understand the contours of nineteenth‐century US economic history, and more generally, the connection between slavery and capitalism. Existing estimates only present a partial picture and are potentially problematic. In this paper, we use data on enslaved person valuations to calculate the contribution made by enslaved workers to regional and national gross national product (GNP) in 1839 and 1859 and to the growth in per capita output in the 20 years before the Civil War. We find that in the United States, enslaved workers were responsible for somewhere between 12.49 per cent and 18.0 per cent of the increase in output per capita between 1839 and 1859. [ABSTRACT FROM AUTHOR]

With the experience of two severe disasters (the Hanshin Awaji Earthquake disaster of 1995 and the Great East Japan Earthquake disaster of 2011), I wish to consider 'subsistence' as human life, existence equaling the basic activities of life, an essential mutual act-like existence economy. In this paper, I pursue a positive development of 'disaster-time economics' as a research object under the larger framework of the formation of a 'moral economy,' as part of a critical process. In this paper, in order that a stricken area and society may aim at the realization of a new methodology about 'creative revival' for newly developing independent research involving the state of the revival fund of a wide sense is carried out. Nevertheless, there is an overall understanding of who, in what areas, and using what methodology, has conducted research in the restoration and revival process, as well as the weak points that tend to hinder the process. There is no research on the rationality and function of public finance expenditures or national sources expenditures. Therefore, in this paper, the term 'disaster-time economy' is newly prepared. From this concept, many activities of the project, service, support, self-efforts etc. of a social and private domain are grasped from a public sphere in connection with the process of maintenance/restoration under the disaster. The feature and subject point of the process are clarified. The market economy order that is going to be produced in this process does the basic work and determines the economic order for another self-subsistence over life. [ABSTRACT FROM AUTHOR]

Twenty years ago, Bob Jessop (1998) published a defining piece on the "rise of governance" and the "risks of failure", using the example of economic development to frame concerns with the state of capitalism at that time. This charted the rise of governance, outlined key governance practices, and offered preliminary reflections on the nature, forms, and logic of governance failure ‒ given that whilst there are already extensive literatures on market failure and state failure, governance failure required focused concern and thematic analysis. This paper, 20 years post‐Jessop on governance rise and risks, tells the tale of how governance in Britain (and England specifically) has marched on and, building on Jessop, has indeed failed, repeatedly and spectacularly. The paper reveals Jessop's governance dilemmas in action and specifically how the contradictions and crises tendencies of capitalism have both necessitated the use of, and been played out in and through, geographical space. The paper reveals an economic governance landscape of unresolved crises and contradictions, which is linked to problems of state rationality and legitimation, exhibited by the Brexit debacle in Britain. [ABSTRACT FROM AUTHOR]

This is a note about Cheng et al.'s paper, in which we consider a dual structure of division of labour and trade that is missed in the model of Cheng et al. Though the inclusion of the dual structure will not change the main results in the paper by Cheng et al., it explores an interesting way to use a general equilibrium model to describe a dual structure with underemployment in a transitional period of economic development. [ABSTRACT FROM AUTHOR]

Recent developments in spatial political economy have shown that the shift of power from the national state to subnational states in many Western European countries does not represent a dismantling of the state, but a reconfiguration of statehood that the national state proactively takes part in. The existing literature, however, neglects the path-dependent and contested nature of state spatiality and depicts devolution as the only possible option. In contrast, this paper shows that changes in state spatiality are contingent upon historical and spatial context, where the state may choose to pursue different options. Based on an empirical study of South Korea, this paper shows that the national state may choose to resist the pressure for devolution. The methodological contribution of this paper is on the emphasis of discursive strategy in the study of state spatiality. [ABSTRACT FROM AUTHOR]

There has been a considerable rise in discourses concerning trust from a range of academic disciplines and perspectives. Unfortunately, many of these literatures have talked past, rather than to, each other. This paper develops an analysis of trust in economic activity through a dialogue between the disciplines of economics and sociology. It outlines the relationship of trust to economic co-operation and identifies a number of types of trust. The potential benefits of these different types of trust to advanced capitalist economies are identified. Consideration is given to the processes of trust creation and destruction in market economies. Particular emphasis here is on how far trust can be symbiotic with, or contradictory to, power and the market. With an analysis of the key properties of individual agents which make them more or less prone to trusting behaviour, the paper is then able to identify the critical factors likely to underlie high-trust and low-trust economies. This has important public policy implications given the potential benefits which trust can have for advanced economies. [ABSTRACT FROM AUTHOR]

This paper argues that Korea, once a representative East Asian developmental state, has state characteristics that amount to 'neoliberal developmentalism', which is a combination of the government's neoliberal political rationality and the developmental state's governmentality. To elucidate this, the case of Korea's recent green growth policymaking process is analysed. The government based the policy on its neoliberal political rationality. This featured the utilisation of neoliberalism to achieve the government's specific aims in the international, political and socio-economic spheres. Furthermore, the government revealed the developmental state's governmentality, focusing on the maintenance of the developmental state's policy autonomy and capacity. Based on the findings, this paper teases out the academic implications of the post-developmental state and the policy implications regarding policymaking in the context of neoliberal developmentalism. [ABSTRACT FROM AUTHOR]

Copyright of Antipode is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The Warsaw Conference on the Marxian theory of Development centered on two related questions; (1) is there in Marxism a distinctively Marxian theory of development? (2) if there is, what guidance can it give today to countries at varying levels or stages of development? In his paper "The Marxian Theory of Development and Socialist Economic Policy," professor J.S. Berliner, held that the sociologist Karl Marx was primarily concerned with the process of capitalistic development. The Marxian doctrine, Berliner contended, applied primarily to fully developed capitalistic economies, their fundamental internal contradictions being supposed to lead inevitably to their bursting asunder and to their supersession by socialism. The title of the paper which professor W. Brus presented jointly with professor K. Laski was "Essentials of the Marxian Approach to Problems of Economic Development." For them the fundamental category of the Marxian theory of economic development was perhaps one which is both social and economic and is summed up in the expression mode of production. It would appear that Marxism does not furnish a set of formulae for development, from which practitioners can easily find out what to do in specific cases. Marxism does seem, however, to offer a box of tools, a set of canons, a method indicating how one might go about formulating what one wants to do by way of development.

Abstract: Contract farming (CF) has generally been understood as, essentially, a market institution—by both (approving) “mainstream” and (critical) “radical” perspectives. Analyses of relations of production have, meanwhile, tended towards a problematic “peasantist” frame, where contracts undermine farmer “autonomy” in processes of “flexible” corporate agro‐industrial restructuring. This paper argues that a materialist analysis of CF from within capital–labour relations offers a stronger conceptual foundation for re‐synthesizing questions of market‐power. It first argues that radical notions of “peasant subsumation” conceptually mirror Marx's “formal subsumption of capital” but underplay dynamics of “real subsumption” accompanying capitalism's wider development. Drawing on the “petty commodity production” concept, it then argues that CF's “flexibility” rests in its differential content. CF's fungibility to contradictory movements of “integration” and “dispersion” enables it to emphasize different methods of surplus appropriation under shifting conditions; each corresponding to a different dominant social tendency. On the one hand, conditions of market expansion inspire integration for relative surplus appropriation through raised productivity, and CF tends to act as a “tool of proletarianization” in the wider centralization of capital. On the other, conditions of contraction motivate the dispersal of unvalorized capital, prompting efforts to raise absolute surplus appropriation, and CF tends to act as a “tool of differentiation” to concentrate agricultural capital. [ABSTRACT FROM AUTHOR]

This article argues that, in Ethiopia, the aim to transform the performance of smallholder agricultural production is driven by the twin imperatives of economic growth and political control. The agricultural extension programme - the largest and fastest growing in the continent - has been central to this strategy, and the unparalleled investment in the extension system has been driven by these twin imperatives. However, there are tensions between the objectives of stimulating agricultural growth, on the one hand, and extensively penetrating society and winning elections, on the other, and these may reduce the returns to this investment. Implications are drawn for wider debates on the reform of agricultural extension. [ABSTRACT FROM AUTHOR]

A key challenge facing most emerging market economies today is how to simultaneously maintain monetary independence, exchange rate stability and financial integration subject to the constraints imposed by the trilemma, in an era of widespread globalization. In this paper we review and contrast the trilemma policy choices and trade-offs faced by the two key drivers of global economic growth: China and India. China's trilemma configurations are unique relative to other emerging markets in terms of the predominance of exchange rate stability, and in the failure of the trilemma regression to capture a consistently significant role for financial integration. In contrast, the trilemma configurations of India are in line with choices made by other emerging countries. Over time, India, like other emerging economies, has converged towards a middle ground among the three policy objectives, and has achieved comparable levels of exchange rate stability and financial integration buffered by sizeable international reserves. [ABSTRACT FROM AUTHOR]

Recent research has shown that the “spirit of capitalism”—a preference for wealth itself, in addition to consumption—has important implications for growth and asset pricing. This paper explores how the spirit of capitalism affects saving and consumption behavior. We demonstrate that the spirit of capitalism may reduce the importance of precautionary savings. It can also explain the excess sensitivity puzzle: the spirit of capitalism causes dramatic deviations from a random walk. It may also offer a partial explanation of the excess smoothness puzzle. [ABSTRACT FROM AUTHOR]

This paper studies the effects of labor supply on relative wages in a dynamic North–South model of trade. Lai (1995 )—a generalization of the Grossman and Helpman (1991a,b , ch. 11) models—showed that the relative wage of skilled (unskilled) labor in a region is positively (negatively) related to the supply of skilled (unskilled) labor in that region. These surprising results depend crucially on the specification of the functional form of the Southern imitation activity. We will show that these results (except for the relative wage of unskilled labor in Lai) are reversed in the case where the productivity of imitation depends only on the number of products the North manufactures. [ABSTRACT FROM AUTHOR]

This article examines how corporate social responsibility (CSR) is understood and perceived in Estonia – a post-socialist country that has recently become capitalist. In order to understand the importance of the context, this paper offers an overview of the main results of surveys conducted about the transition process in Estonia and presents the different development stages describing business purposes and perceived responsibilities in the last 20 years in Estonia. The purpose of business and corporate responsibility, or CSR, is a topic that has been widely discussed and debated in most developed countries of the world. Over the past 20 years, the field has grown rapidly, and it is still gaining importance every day.

The paper attempts to address the issue of complementarity and substitutability of state capital to private sector investment activities in a neoclassical growth framework. It employs a co-integrated vector autoregressive model to account for potential endogeneity and nonstationarity problems. Results suggest that both private and public capital spending have stimulated economic growth in Sudan over the period 1970–1998. The impact of private investment on real growth has been more pronounced than that of public sector investment. Public sector investment appears to have deleteriously impacted private sector physical capital expansion, implying that the impact of crowding-out categories of public sector investment has been large enough to offset any crowding-in effects. Such crowding out effect has weakened favourable positive effect that public sector's investment has exerted on growth by jeopardising private sector capital undertakings. Copyright © 2003 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The year 1989 marked an important turning point in Vietnam: the market mechanism began to take the place of centrally-planned resource allocation. To secure sustainable economic growth at a high level, Vietnam needs further comprehensive reform towards a market economy. The paper argues that the Asian crisis should not be blamed for the recent slowing of the economy. It also raises some other questions, in particular whether the government is still trying to fit the market mechanism into a socialist model. [ABSTRACT FROM AUTHOR]

This paper presents redistributive taxation and economic growth as a noncooperative differential game in which the politically powerful poor (workers) control redistribution whereas the economically powerful rich (capitalists) control accumulation. Both groups are assumed to be interested in maximizing the sum of their own discounted consumption over an infinite horizon. The players use trigger strategies which permit the construction of threats designed to sustain cooperation as an equilibrium, The properties of the trigger strategies and the dependence of sustainable cooperative policies on the technology preferences and development history of the economy are discussed. [ABSTRACT FROM AUTHOR]

The paper presents a simple model of growth and accumulation in a pure capitalist economy. The model integrates Keynesian ideas on effective demand with a Marxian emphasis on class struggle and the reserve army of labour. For reasonable parameter values the model has a unique (non-trivial) balanced growth equilibrium, the equilibrium is unstable and using the PoincareBendixson theorem it is shown that the economy will exhibit perpetual fluctuations around the balanced growth path. [ABSTRACT FROM AUTHOR]

The appearance of the first two syntheses of the literature on the economic failure of 'statist' policies in post-colonial Ghana, to 1983, and the subsequent economic liberalization, is an opportune moment at which to consider the state of the debate about the political economy of the country since independence. This has focused on the nature of the socially optimum combination of administrative and market methods of resource allocation in this 'test-case' economy, and about the political conditions which largely determine the extent to which it is achieved. Explicitly or implicitly, both Frimpong-Ansah's (1991) and Rimmer's (1992) books combine the twin traditions of rational choice thought that have been dominant in recent years in the literature on African economic development, market economics and 'new' institutionalist political economy. The paper considers, in turn, the economics and politics of Ghana's economic decline and partial revival. It suggests that, while there is a consensus that 'state failure' was the main cause of Ghana's decline in relation to similarly endowed countries, 1950-83, the question of how far and in what respects the state should retreat from administrative control of resource allocation remains relatively open. For example, while the inconvertibility of the currency seems to have been irredeemably disastrous, the much criticized marketing board system may yet prove worthy of reform rather than abolition. There is also a consensus that the prolongation of what, for the economy as a whole, were disastrously counterproductive policies was to a great extent the result of the subordination of the public interest in economic growth to the sectional and personal interests of governments and their members. However, the paper argues that it is necessary to revise such explanations to take account of two surprisingly neglected points: (a) that economic growth in itself is a major political asset to governments in Africa as elsewhere and (b) that economic decline (as in Ghana 1975-83) requires more explanation than economic stagnation (as in Ghana 1950-75). [ABSTRACT FROM AUTHOR]

Despite the pessimistic predictions of the classical theories of capitalist development, simple commodity production (SCP) has continued to persist under capitalism. While some, following the classic Marxist-Leninist interpretation, insist that SCP is only a transitional phenomenon and will disappear eventually, others argue that necessary conditions for the reproduction of simple commodity producing families may exist within capitalist formations and as long as these conditions exist, persistence of SCP will not be an anomaly. There are also significant differences between those who argue that SCP can survive under capitalism, in explaining the reasons for its persistence in agriculture. For this reason significant variations occur throughout the world, depending on the way it relates to the dominant capitalist mode of production. This paper will examine the post-World War II transformation in the tobacco sector that led to the consolidation of small ownership and simple commodity production in the Aegean region of Turkey. Within the given historical and commodity context, this paper will examine the natural imperatives of tobacco production, characteristics of family production, the tobacco market and state policies and their roles in the emergence and persistence of SCP in tobacco production in Aegean, Turkey.

It is widely believed that there is no alternative to capitalism. Over the last two decades however, the critical geography literature on diverse economies has demonstrated the existence of alternatives to capitalism by revealing the persistence of non-capitalist forms of work and organisation. The aim in this paper is to question the validity and usefulness of continuing to frame these non-capitalist practices as 'alternatives'. Positioning non-capitalist economic practices as 'alternatives' fails to capture not only the ubiquity of such practices in everyday life, but also how those engaging in them do not see them as 'alternatives' in the sense of a second choice, or less desirable option, to capitalist practices. The intention in doing so is to reveal that it is not non-capitalist practices that are 'alternative' but rather, capitalist practices themselves, thus opening up the future to the possibility of a non-capitalist world more fully than has so far been the case. [ABSTRACT FROM AUTHOR]

Based on a synthesis of the empirical scholarship on England and Germany, this paper demonstrates that in both regions, rural socio-economic developments from c.1200 to c.1800 are similar: this period witnesses the rise to numerical predominance and growing economic significance of the 'sub-peasant classes', which had a growing impact on the market as a result of their increasing market dependence, and from which - towards the end of the period - a rural proletariat emerged. Against the influential theory of Robert Brenner, it is argued that the period c.1200- c.1400 cannot really be categorized as 'feudal' according to Brenner's definition; and 'agrarian capitalism' does not adequately describe the socio-economic system that obtained by the end of the sixteenth century. A genuine transition to capitalism is only evident from after c.1750, and can be found in Germany as well as in England; it is predicated both on ideological shifts and on the evolution of the rural proletariat, which is only found in large numbers by or after c.1800. [ABSTRACT FROM AUTHOR]

Does capitalism perform better when embedded in certain cultures? Given the wide range of economic outcomes, we address potential causes for the effectiveness or ineffectiveness of institutional constraints. This paper argues that culture matters for the success of capitalist institutions, specifically economic freedom. We claim that different cultures may raise or lower the productivity of economic institutions by either constraining or supporting these rules. We analyze this relationship empirically by examining how the interaction between economic freedom and culture affects economic growth. Our results suggest that culture does, indeed, enhance the effectiveness of capitalism and its subsequent impact on growth. [ABSTRACT FROM AUTHOR]

We build an overlapping generations model to analyse the evolution of inequality as an economy develops. Our model economy resembles a 'very capitalist society'. Initially, wealth is exclusively concentrated in a rich dynasty. We ask whether or not this type of capitalist economy contains a fundamental contradiction, as claimed by Piketty in his recent book. We derive a condition under which the economy is driven to a state of perpetual inequality. However, we also show that an economy where capital deepening triggers the development process is very unlikely to be absorbed in that state. [ABSTRACT FROM AUTHOR]

This paper develops multi-dimensional analyses of socio-spatial relations. Building on previous research, we identify some tensions associated with different dimensions of socio-spatiality and introduce the theme of compossible and, more importantly, incompossible socio-spatial configurations. Two short studies are deployed to highlight the socio-spatial implications of the principle that not everything that is possible is compossible. The first shows the power of thinking varieties of capitalism compossibly (via the concept of variegated capitalism) and then examines the successive strategies adopted by the European Communities and European Union to address the significance of changing patterns of variegation for approaches to European integration, spatial strategies, and economic and social policies. The second case discusses some related problems for state spatial projects, starting in the 1980s with spatial planning, promotion of a Europe of the Regions and/or of Europe and the regions, and then turns to examine city-regional development strategies. [ABSTRACT FROM AUTHOR]

The Paper briefly reviews social security coverage that the world has achieved and summarizes economic and social benefits of a national social security system. It then goes on to argue that social security systems are a necessary part of the institutional framework of any effective market economy, creating—among other things—societal cohesion that is needed for long-term economic development. It makes the case that the introduction of basic social protection in developing countries is both a desirable and an affordable investment in their social and economic development. It estimates the global minimum investment cost to provide basic social security and finally suggests international instruments to introduce a global social security floor. [ABSTRACT FROM AUTHOR]

As Russia goes through the process of converting from a command to a market economy, many old business processes and standards had to be terminated and new methods implemented. Leasing is an example of a technique long in use in more developed economies that has been transplanted to Russia, with changes made to reflect the particular circumstances there. This paper examines the current state of leasing in Russia by concentrating on the experiences of one leasing company: Volgopromleasing. Interest rates and inflation rates that fluctuate widely and are sometimes extremely high, as well as a legislative environment that may be expected to change are some of the challenges faced by the firm. However, compensating opportunities exist: many Russian firms desperately need to update their equipment, the government is strongly interested in promoting rapid economic growth, and the legislation currently in effect favors leasing over other methods of acquiring fixed assets. Although leasing has the potential to assist Russian firms in modernizing and growing, and, therefore, to help the Russian economy in its effort to rapidly move to a new market economy, this can only occur in conjunction with other economic initiatives that also provide for growth and stabilization. [ABSTRACT FROM AUTHOR]

This paper on moral sociology first examines the moral aspect of criticisms traditionally levelled at capitalism and then analyses the attempted response and justification of capitalism based on the supposed naturally beneficial effects of competition. Social contests inherent in human ways of life are not restricted to economics and are unlikely to possess spontaneously the moral virtue attached to them. The article thus explores more specifically the ethical nature of producer and consumer competition and concludes by proposing that the level and quality of self-esteem engendered or fostered by a socio-economic order be taken as a sort of moral yardstick. [ABSTRACT FROM AUTHOR]

This paper examines the extent to which traditional techniques and practices remain current among a sub-set of Indonesian tree crop smallholders. Village-based studies of independent oil palm and rubber smallholders in Riau (Sumatra) indicate that bio-diverse‘jungle rubber’ and multi-cropping techniques still exist, but primarily as components of farmers’ coping strategies under low commodity prices. A further strategy, seeking income from non-agrarian sources, notably‘illegal’ logging and land sales to migrants, partially fits Rigg's‘deagrarianisation’ thesis, though his suggestion that the farm household has become a mere‘shell’ is not substantiated. The lack of full legalisation of tenure constrains full capitalist development but does not impede land sales. Land seizures during the Suharto period reduced belief in the efficacy of customary (adat) law, though adat has retained importance in dispute resolution and as a cultural framework. New structures of village governance following decentralisation have so far had minimal impact in either empowering villagers or dispossessing elites. [ABSTRACT FROM AUTHOR]

Copyright of Population & Development Review is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article presents the author's comments in response to a recent paper entitled "Corporate Governance, Stakeholding, and the Company: Towards a Less Degenerate Capitalism?," by Paddy Ireland. According to the author, Ireland presents a Marxist criticism of the concept of stakeholding. The author says that Marxism leads to economic developments within the capitalist mode of production that will lead to socialism.

We document empirically that rich countries are more politically cohesive than poorer countries. In order to explain this regularity, we provide a model where political cohesion is linked to the emergence of a fully functioning market economy. Without market exchange, the welfare of inherently selfish individuals will be mutually independent. Whoever has greater bargaining power will be willing to make decisions that enhance the productivity of their supporters at the expense of other groups in society. If the gains from specialization are sufficiently large, however, a market economy will emerge. From being essentially non-cohesive under self-sufficiency, the political decision-making process becomes cohesive in the market economy, because the welfare of individuals will be mutually interdependent as a result of the exchange of goods. [ABSTRACT FROM AUTHOR]

Copyright of International Journal of Urban & Regional Research is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In academic studies of the interface between developing countries and large multinational oil corporations, scholars have noted that over time and through repeated interaction, the developing countries tend to negotiate better outcomes for themselves: they progress along a learning curve by incrementally improving their outcomes through bargaining and strategic interaction. This phenomenon can be demonstrated in a number of oil-rich developing countries. Nigeria's case, however, is more complex. During the two decades following its independence, the state successfully negotiated for more control over—made strides in the developing of the skills necessary to manage—its petroleum industry, as our model would predict. Then, in a puzzling late-1970s-to-mid-1980s change of course, the government abruptly gave back concessions, undermined local entrepreneurial endeavors, and repealed indigenization laws. This paper combines, in the analytic narrative tradition, the case study method with an extensive form game; it applies a dynamic bargaining model to Nigeria's historical experience, demonstrating that Nigeria improved its outcomes and ascended along the “bargaining learning curve,” only to reverse policy and “unlearn,” with serious consequences for the Nigerian population. Even so, the demonstration of both successful and improved outcomes in past negotiations give evidence that Nigeria could once again ascend its bargaining learning curve if the government were to re-commit to such a policy. [ABSTRACT FROM AUTHOR]

Since the 1960s economic growth rates have been far lower in sub-Saharan Africa than in other developing regions. This poor performance has resulted primarily from endemic rent-seeking and the over-regulation of markets. To achieve high growth rates, African countries must improve the investment climate by reforming institutions, enhancing infrastructure and protecting property rights. [ABSTRACT FROM AUTHOR]

This paper is the text of a lecture given by the author at the Academic Conference on Charitable Services and Social Forces in History, at the Chinese University of Hong Kong, on 8 December 1999. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to answer specifically the question whether one country can model after another with considerable structural differences. First, using Japan's and Korea's time series data, it attempts to identify both the similarities and dissimilarities in economic changes of the two over the past three decades. Second, it introduces into the macromodels some new important factors such as defense spending, social stability and other socio-economic factors which seem to be significant in explaining the differences between the two countries. [ABSTRACT FROM AUTHOR]

This article evaluates the relevance of dependency theory for understanding contemporary development challenges, especially in the light of changes in the global economy over the past 50 years. In order to do so, the article rectifies previous misunderstandings of the scholarship and offers a new definition of dependency theory as a research programme, rather than a singular theory. Four core tenets of this research programme are identified: a global historical approach; theorizing of the polarizing tendencies of global capitalism; a focus on structures of production; and a focus on the specific constraints faced by peripheral economies. While each of these elements can be found in many contemporary theories, what makes dependency theory unique — and a particularly strong research programme — is the combination of these elements. The article demonstrates how this approach provides a deep and broad understanding that is necessary to appreciate the persistence of uneven development with reference to two case studies, namely successful industrialization in South Korea, and how the fragmentation of global value chains has impacted industrialization in Indonesia. Finally, the article argues that approaching these kinds of cases through a dependency research programme can contribute to a fruitful renewal of development studies. [ABSTRACT FROM AUTHOR]

We highlight the most adverse impact of capitalism on inequality through the channel of the interest rate. The interest rate has been an instrument of capitalism which aggravates the accumulation of wealth in the hands of very few people and thereby worsens inequality. To this end, this article scrutinises the dynamic impact of financial development on income inequality in the context of Indonesia, applying DOLS and FMOLS approach by analysing time series data over the years of 1984 to 2018. Rising income inequalities has been a common perpetuating trend of East Asian countries among which we find the case of Indonesia worth interesting to study while filling up the gap in the existing literature. We provide evidence that interest rate exacerbates income inequality in the long‐run economy of Indonesia. Financial development in the early phases of development favours economic activity in the urban sector based on capital intensive technology which does not help absorb excess rural labour. The empirical finding of this study profoundly demonstrates one of the substantial drawbacks of capitalism in terms of income disparity. [ABSTRACT FROM AUTHOR]

What is the relationship between the economy's long‐run growth rate, its capital‐income ratio, and its factor income distribution? A satisfactory answer requires an endogenous growth and savings rate. We scrutinize Piketty's (2014) theory in a richly parameterized variant of Romer's (1990) seminal model with and without population growth. The economy's growth and savings rate are exogenous in Piketty's theory and endogenous in Romer's. In contrast to Piketty's Second Fundamental Law of Capitalism a smaller growth rate may be associated with a smaller capital‐income ratio. Moreover, it may go together with a greater or a smaller capital share. [ABSTRACT FROM AUTHOR]

British and American debates on the relationship between slavery and economic growth have had little interaction with each other. This article attempts intellectual arbitrage by joining these two literatures. The linkage turns on the neglected part two of the 'Williams thesis': that slavery and the slave trade, once vital for the expansion of British industry and commerce, were no longer needed by the nineteenth century. In contrast to recent assertions of the centrality of slavery for US economic development, the article argues that part two of the Williams thesis applies with equal force to nineteenth‐century America. Unlike sugar, cotton required no large investments of fixed capital and could be cultivated efficiently at any scale, in locations that would have been settled by free farmers in the absence of slavery. Cheap cotton was undoubtedly important for the growth of textiles, but cheap cotton did not require slavery. The best evidence for this claim is that after two decades of war, abolition, and Reconstruction, cotton prices returned to their prewar levels. In both countries, the rise of anti‐slavery sentiment was not driven by the prospect of direct economic benefits, but major economic interest groups acquiesced in abolition because they no longer saw slavery as indispensable. [ABSTRACT FROM AUTHOR]

In this article the author talks about finance-dominated modes of profit generation that can be turned in a mutually beneficial direction. It mentions a certain kind of Christianity has the capacity to shape persons differently, in a similarly thoroughgoing way, and thereby expand the reach of their economic imaginations; and also mentions that relentless drive for maximum profit pushes capitalism to target the whole person for profit-making purposes.

This article appraises Alice Amsden's theory of development. In particular, it focuses on Amsden's juxtaposing of the concrete and the universal, and the national and the global, as antithetical, and her prioritizing of the former over the latter. The author argues that this key feature of Amsden's work reduces the concept of development to a nationally determined process and empties capitalist development of its class content. It is argued that Amsden's primary focus on why and how development occurs in the Third World bypasses the question of what development is, thereby reinforcing 'Third World developmentalism', and removes the emancipatory content from the concept of development. Given the continued legacy of Amsden's theory, as evidenced in recent debates, and the inadequacy of extant Marxist critiques in addressing its conceptual and political problems, this article proposes an alternative conceptualization of concrete–general and national–global relations based on Marx's critique of political economy, and calls for the resuscitation of the emancipatory content of the concept of development. [ABSTRACT FROM AUTHOR]

The article highlights the limitations of claims of convergence between the global North and South in relation to income from 1990-2015. Topics covered include the growing inequality within many countries, the argument that international development goes beyond empirical data to underlying causal processes of globalized capitalism and climate change, and a discussion about 21st century global development.

Myanmar (formerly Burma) is emerging from almost six decades of international isolation into a period of rapid economic growth. Following moves towards increasing democratisation since 2011, Myanmar's tourism industry has been propelled from 'tourism pariah' to rising 'tourism star' and is experiencing an extraordinary growth in tourism arrivals with associated revenues and investment. The unique rapidity of Myanmar's recent transition enables an examination of how contemporary forces of globalisation and neoliberalism determine the direction and mode of tourism development from its beginnings. We show how tourism is perceived by the national government as an engine for rural development, conservation and livelihood creation for poor and rural communities. We then demonstrate how this is re‐shaped by a globalised tourism industry into a socially and economically exclusive model which capitalises upon weak governance and disempowered local stakeholders. We conclude with observations which may point towards a more sustainable and responsible tourism industry. [ABSTRACT FROM AUTHOR]

Alternative paths to ownership are examined, including starting, purchasing or inheriting a firm, as well as being promoted or brought in by existing owners. It is hypothesized that these involve different 'degrees of entrepreneurship', which will be reflected in the profiles of owner-managers who have followed each path. Data on 1756 owner-managers are used to test hypotheses relating path to ownership to: the entrepreneurs' background characteristics: motivations and attitudes; and previous careers, incubator organizations and processes of starting. [ABSTRACT FROM AUTHOR]

Abstract: This article demonstrates the existence of conglomerates of nations that seem to have similar ideological attitudes towards capitalism. The main finding is the existence of relatively homogeneous global cultural clusters, the Anglosphere and Northern European nations showing the highest appreciation for free markets, followed by the Sinosphere. The rest of the world tends to be more anti‐capitalist, with the Middle East and Eastern Europe standing out for being at the end of the spectrum. Statistical analysis suggests that the capitalist mentality is to some extent autonomous, and does not seem to be determined strongly by other variables such as income, growth or inequality. At the same time, the capitalistic mentality appears to correlate with economic freedom, as measured by the Economic Freedom of the World index. If a pro‐capitalist ideology is connected to institutional development, then some conglomerates seem to be in a better position to attain or maintain economic growth in the future. [ABSTRACT FROM AUTHOR]