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This paper briefly discussed the emergence and evolution of evangelical capitalism. It contrasts it with traditional American capitalism. In addition, the paper identifies some risks of evangelical capitalism in the [...]

Byline: Mathieu Albert (1) Keywords: economics; entrepreneurial science; knowledge production; social science; sociology; university studies Abstract: Based on the conceptualframework of Pierre Bourdieu, this studycompares the impact of pressure to develop tieswith non-academic organisations on two fieldsof research, namely: sociology and economics.The study highlights the dynamics particular toeach discipline and shows that a soundunderstanding of transformations affectinguniversity research cannot exclude analysis ofthe specificity of each one. Two cohorts ofprofessors were studied in two Quebecuniversities: the first cohort was made up ofprofessors who received tenure between 1974 and1983, and the second between 1989 and 1998. Theresults suggest that pressures in favor ofpartnership with non-academic organisationshave not had the same impact in sociology andeconomics. While research practices haveundergone transformations in each discipline,the nature of these transformations differs inan important way. The results also contradicttwo popular models in knowledge productionstudies, which are the Entrepreneurial Science,and Mode 1/Mode 2 models. Although these modelsclaim that academic research orientation hasbecome geared towards problem-solving, ourresults indicate, however, that the oppositetrend has been taking place in sociology andeconomics. Author Affiliation: (1) Centre interuniversitaire de recherche sur la science et la technologie (CIRST), Universite du Quebec a Montreal, P.O. Box 8888, Station Centre-ville, Montreal, (Quebec), Canada, H3C 3P8 Article History: Registration Date: 11/10/2004

Business research for the success of hypocapitalism in the newly reformed Russian business industry is given. Most successful firms demonstrated some sort of diversification, along with a variant of network capitalism.

Byline: MichaA Grajek (1) Keywords: decomposition; earnings differentials; gender; planned economy; Poland; transition economy Abstract: In this paper we examine the gender pay gap in Poland over 1987--1996, i.e., shortly before and during the transition to market economy. The principle source of data used throughout the paper is the Household Budget Survey conducted by the Polish Central Statistical Office. The study documents three major results. First, the transition to market economy in Poland favored women substantially in terms of relative earnings differentials. The gender pay gap decreased by 10.2 log% points and the position of mean female in male wage distribution went up by 9.9 percentiles over 1987--1996. By 1995, the values of these measures reached the level observed in industrial economies such as the U.K., Austria, Italy or Australia. Second, rising relative skills of women and rising returns to skills explain about half of the fall in the gender pay gap over 1987--1996. Third, the pay gap did not follow a smooth adjustment process. 1989, the year of the first democratic parliamentary elections, which resulted in forming the first non-communist government, saw the most spectacular change, although actual market reforms began one year after. The changes in the early phase of the transition were mostly driven by sudden shifts in relative wages and employment across industries. Afterwards, the pay gap measures stabilized, partly because rising overall wage inequalities offset the advantages of females due to observed skills. Author Affiliation: (1) Wissenschaftszentrum Berlin fur Sozialforschung (WZB), SPII/2 (WIW), Reichpietschufer 50, 10785, Berlin, Germany Article History: Registration Date: 17/10/2004

This article investigates whether a new mode of regulation is being developed or has already evolved in the United States to promote long wave upswing during the early years of the new millennium. The regime of accumulation is scrutinized, but neither sustainable productivity nor demand seems to be forthcoming. Institutional forms are then studied--global relations, the state, and finance--and found to be lacking. Periodic deep recession and financial instability are thus likely until suitable changes emerge because long wave upswing has not yet emerged. JEL classification: E32; 030; 040; P16 Keywords: long waves; mode of regulation; regime of accumulation; institutional forms; deep recession; financial instability; productivity; demand

Golden Age steady states determined by saving rates maximizing profit are contrasted with the Golden Rule, that is, consumption maximizing, steady states highlighted in standard economic growth theory. Golden Rule steady states exemplify the classical socialist principle of distribution: to each according to work. Under the Golden Rule, consumption equals labor income, and given stationary class capital ownership shares, all profit must be invested and none consumed. In contrast, in Golden Age steady states, some profit can be freed for consumption, although the levels of investment, output, and most notably consumption are then all lower. These relationships are explored in models initially without, and then with, labor force growth and technical change. JEL classification: D33; 041 Keywords: economic growth; distribution

Abstract Inter-firm relations vary significantly between capitalist economies as a result of institutional differences, especially in terms of trust and mechanisms ensuring adherence to contractual commitments. The transformation of the [...]

Byline: Simon Marginson (1), Gary Rhoades (2) Keywords: academic capitalism; comparative education; globalization; markets; methodologies; nation-state; neo-liberalism Abstract: This paper offers an overarching analyticalheuristic that takes us beyond currentresearch, anchored in conceptions of nationalstates, markets, and systems of highereducation institutions. We seek to shapecomparative higher education research withregard to globalization in much the same waythat Clark's (1983) ``triangle'' heuristic hasframed comparative higher education research inthe study of national policies and highereducation systems. Our ``glonacal agencyheuristic'' points to three intersecting planesof existence, emphasizing the simultaneoussignificance of global, national, and localdimensions and forces. It combines the meaningof ``agency'' as an established organization withits meaning as individual or collective action. Our paper critiques the prevailing framework incross-national higher education research,addressing the liberal theory that underpinsthis framework, the ways scholars address therise of neo-liberal policies internationally,conceptual shortcomings of this work, andemergent discourse about ``academic capitalism''. We then discuss globalization and ourheuristic. Finally, we provide examples of howstates, markets, and institutions can bereconceptualized in terms of global, national,regional, and local agencies and agency. Author Affiliation: (1) Faculty of Education, Monash University, VIC, 3800, Australia (2) Center for the Study of Higher Education, College of Education, University of Arizona, Tuscon, AZ, 85721, USA Article History: Registration Date: 12/10/2004

I would be very grateful if the readers of this journal would help me. It seems that there is another 'Geoffrey Hodgson' who also published a book called Economics and [...]

Using a variant of the Michl-Baldani (2000) model of technical change as a strategic choice, this paper describes alternative foundations for the achievement of 'positive class consciousness.' The first is based on the Folk Theorem(s) of repeated games, while the second views the robust establishment of certain norms as the prerequisite for such consciousness.

This article reviews Robert Brenner's 'The Economics of Global Turbulence', New Left Review, May/June, 1998. Several decisive weaknesses of Brenner's contribution are identified. First, Brenner's theoretical treatment of capitalist competition and accumulation is in the spirit of Adam Smith and mainstream economics rather than Marx. Second, Brenner ignores the significance of credit for capitalist crisis. Third, he leaves entirely out of account the internationalisation of production and finance, phenomena which constitute the most salient feature of the contemporary global economy. Fourth, in short, Brenner's approach is not at all value-theoretic, a weakness that can also be found in some of his earlier historical work.

The theory of the development of capitalism as outlined in the work of Polyani (1957) is examined to develop theories related to the approach used by occidental society to become a market economy. Adaptations of models from literature on complicated adaptive systems are used to build a fictitious society in which the theories are tested and supported.

The persistence of Richard Goodwin's works in the field of economics stemmed from his early insights into the growth pattern exhibited by capitalism, which he initially described as non-linear and later refined into a steady growth characterized by fluctuations in the rate. Goodwin share the same insight on capitalism's growth with Hayek, and further refined his observations using the Lotka-Volterra system of differential equations.

The distribution of the world's population is now more urban than rural. Contemporary and historical urban patterns are identified and their causes are evaluated. Urban development was largely confined to developed countries before mid-century but has spread to developing countries since. Both outcomes are seen as interdependent consequences of the growth and geographical extension of capitalism. The merits of the interdependency theory are assessed. Recent urbanization in Africa and Asia is a locational response to the new global economic order. Cities have grown because of the influx of manufacturing and service jobs from the developed economies, and the in-migration of workers displaced by agricultural adjustment. The prospects for further urbanization are considered. KEY WORDS: world urban development, urbanization, capitalism, globalism, interdependency theory.

The available empirical literature comparing the efficiency and productivity of labor-managed and capital-managed firms is reviewed and meta-analysed. The results suggest that labor-managed firms are not less efficient or less productive than capital-managed firms. Labor-managed firms have lower output-to-labor ratios and even lower capital-to-labor ratios. However, the differences in these ratios are not statistically significant. The labor-managed firm's democratic governance, industrial relations climate, and organisational setting do not appear to adversely affect productivity and efficiency.

This survey critically examines the development studies literature dealing with the connections between social structure, politics and the emergence or development of 'indigenous' capitalism in developing countries. This literature has focused mainly on the apparent absence or weakness of indigenous capitalism, and on a set of questions and problems assumed to some degree to be generic to the 'Third World'. Most of it has been framed by three major paradigms: the concept of 'social barriers' to capitalism; Marxian concerns about connections between economic and political domination; and a (neo-liberal) notion that 'politics' necessarily constitutes an obstacle to capitalist growth. The conclusion is that these paradigms, and the underlying assumption of a generic Third World problem of weak indigenous capitalism, have ceased to be very fruitful. In this area of enquiry, development studies has run out of intellectual steam. Researchers interested in developing countries can usefully connect with recent scholarship on capitalism in the 'advanced' nations, especially work (a) in the New Economic Sociology on the social basis of trust and market exchange and (b) in political science on the politico-economic relationships between states and large-scale capital.

Capital market integration in developing Asian countries has resulted in higher economic growth and greater stability. Low inflation, stable nominal exchange rates, higher productivity of investments, and enhancement of technology are some of the other results. Most Asian nations adopted capital market integration in their efforts to institute large scale economic reforms, and continue to strengthen economic liberalization in order to counteract the destabilizing effect often associated with capital market integration.

Inter-firm relationships vary greatly between capitalist economies as a result of institutional differences, especially in forms of trust and prevalent mechanisms of ensuring that commercial agreements are kept. The transformation of the command economies of Eastern Europe since 1989 and the intensification of competition in their major markets might be expected to destroy previous connections between suppliers and customers and generate instead short-term, ad hoc contractual relationships. However, this study of ten large enterprises in Hungary found that contractual relations between them tended to be more similar to the Japanese firms studies by Sako in her 'Prices, Quality and Trust' (1992) than to the British ones. This seems to reflect the limited extent of change in products, markets and organizational structures of these firms - and the gradual approach to transformation adopted in Hungary as a whole - as well as their specialization in particular industrial branches and their high degree of mutual dependence through debt. Continued dependence on the state has meant that competition between these firms for political support remains important and so they compete more across industrial sectors than within them. (Reprinted by permission of the publisher.), Introduction The post-war success of the Japanese economy, and of various forms of 'flexible specialization' in parts of Europe, have encouraged considerable interest in the varied ways that firms organize [...]

In focusing solely on owner occupation, housing policy and practice in third world cities ignores the fact that a significant proportion of households in low-income settlements live in rented accommodation. More importantly, it ignores the importance of private landlordism in that, although landlords form a small proportion of all households, they are responsible for the provision of housing for a large number of tenants. Offering low-income households a more balanced tenure choice requires an understanding of the conditions that underpin the production of rental housing. Using the concept of petty commodity production, this paper develops a theoretical framework which provides an explanation of how private property, finance and the labour process are articulated in low-income settlements to give rise to a continuum of petty commodity forms of landlordism. The theoretical framework also provides the basis for an analysis of the various factors underpinning the reproduction, conservation and/or dissolution of the various petty commodity forms of landlordism.

This paper analyzes transition policies in the former Czechoslovakia, in Hungary, and in Poland. The current literature takes for granted that Czechoslovakia and Poland, at least in the initial stages, present clear examples of a shock approach toward the transition, whereas the Hungarian case is mostly perceived as gradual. This paper challenges the dichotomous 'shock-versus-gradualism' dispute, which is believed to blur the key elements of the transition from a centrally planned to a market economy, and maintains that the labels attached to the transition policies applied in these countries are inappropriate.

P. Sraffa's critique of the Marshallian theory of supply originated from his concern with the development of an all-encompassing theory that could explain the economic laws governing capitalism. That fact generally remains unnoticed by the experts in their interpretations of Sraffa's works. Sraffa was trying to develop a theory of value that could account for increasing returns.

Practitioners of historical archaeology can define the impact of ideology (as in Althusser) and disciplines of the serf (as in Foucault), thus contributing to the study of capitalism in local historical situations. In describing the origins of modern conditious of exploitation, archaeologists can help to educate those exploited. In the Chesapeake region, historical archaeology has been used to create a more direct tie with the present than is usually the case, a tie that may serve to redistribute the power to interpret the past.

Following a decade of reform and the 1988-89 stabilisation programme, Vietnam appears well-positioned to become a new East Asian 'dragon'. Below, the main macroeconomic dimensions of the reform process are examined. In particular, improved terms of trade for food agriculture is seen as a key determinant of stabilisation; more generally, it is argued that the authorities have rightly given broad priority to macro-stability over micro-efficiency. While the process of institutional change is necessarily a lengthy one, rising domestic and foreign savings will help sustain rapid growth, mitigating any adverse distributional consequences of reform. The Vietnamese experience clearly contains lessons for other 'market transition' economies., INTRODUCTION This article draws mainly upon macro-data for the period 1983-93 to examine some of the key policy variables conditioning Vietnam's difficult but apparently successful transition to a market economy. [...]

Economists Tugan and Baranowsky theorized that economic crises due to underconsumption will not occur since capitalists will continue to invest in capital goods or machines to make more machines. The phenomena of assets increasing in value despite questionable intrinsic utility was described as a 'bubble.' Bubbles happen when individuals invest in assets in the hope of selling at increased prices to other individuals with the same intentions. While bubbles may give rise to periodic booms and crashes, they help remove inefficiency from an economy.

Scholars argue that Marx explicitly states that financial and industrial capitalists do form distinct classes. Relations between industrial and financial capital were broadly discussed not only by Marx but also by Marxists after Marx. However, the question of the practical significance of Marx's distinction between industrial and financial capitalists does not seem to be properly answered. This paper tries to show that this distinction always had a political significance. It discusses the changes made by Marx during his lifetime, and attempts to explain those changes by connecting them to historical events on the one hand and to Marx's concept of politics on the other.

A study showed that arbitrary welfare perturbation may be achieved by introducing the proper asset into an incomplete markets economy with non-singular consumption goods. A general equilibrium with incomplete markets economy model was developed to show that the effects of financial innovation may influence other markets that appear to have no links with the new asset. The diverse behaviors that likely result from a shift away from a single-commodity paradigm is emphasized. Increased oversight and sophistication is necessary to derive both theoretical and practical solutions.

Economic experts traditionally view centrally-planned economies as systems which lack a genuine market in view of strict government control and limitations upon private ownership of property. It is shown that the environment wherein buyers and sellers interact do not necessarily have to follow the Western model in order to be a market. It is suggested that markets can exist even when the degree of market perfection is small.

The institutional architecture of advanced capitalist countries is similar to the present institutional history of post-socialist countries because the actual and future forms of ownership are more complex compared to what free-market purists and liberal reformers perceive. Furthermore, the construction of property rights involves the role of the government and the citizenry in building a society, which extends past the question of legal protection distribution techniques and economic incentives.

The nature of markets and resource ownership in Soviet-type economies are examined. It has been assumed that free enterprise governs the theory of free markets, where interchange among free economic agents exists regardless of market perfection. However, such a definition excludes existing markets such as those of the Soviet societies, where markets are centrally planned. It is shown that Soviet economies carry a market structure which can be considered as capitalist as those of their western counterparts., The conventional analysis of 'non-market' economic systems denies the existence of markets in the Soviet-type economies because these systems lack economic freedom. Also, the traditional analysis places emphasis on the [...]

West Indian C.L.R. James dominated Marxist theories after the death of Marx and Engels. James believed that capitalism had evolved into a third stage called state-capitalism, succeeding competitive capitalism and imperialist capitalism. Twentieth century state-capitalism had evolved because of 2 competing elements: entrenched bureaucracies and totalitarian domination. James published 'Mariners, Renagades and Castaways', which was a study of the theories of Melville. He believed that Melville's 'Moby Dick' symbolised the future of the world system.

The relationship between capital and labor is viewed by radical economists as essentially an opportunistic one in which capital would sacrifice production efficiency for control. The 'control implies inefficiency' hypothesis is not supported by the methodological framework of either mainstream or Marxist economics. A redefining terminology which gives equal importance to the interests of both the capitalist and the labor class would reconcile mainstream individualist thinking and Marxist structural theory.

Traditional political economy macro models usually incorporate only two social class variables: capitalists who receive gross profits, and workers who earn wage income. A third class, comprising managers and salaried nonproduction employees otherwise known as overhead workers, can explain stagnation in models dealing with mature capitalism. The concept of gross profits and their allocation to the third class as well as their long-term use for capacity utilization are central to the third class model.

Capitalist firms may at times seek to compromise production efficiency so as to exercise stronger control over the production process and, consequently, the bargaining power of their employees. An analysis of the capital-labor conflict with a strategic bargaining model reveals that allocational and distributional motives play a big part in capitalist-employee relationships. While capitalist firms seek to maximize profits, they balance the advantages of productivity against bargaining power before deciding on a production strategy.

This papers makes three points and offers one demonstration. First, the selection of cases in comparative research ideally should capture all of the variation that exists in a theorized population of interest, and not be based merely on data convenience, the presence or absence of the instance under analysis, or assumptions about causal invariance or the representativeness of cases. Second, partly due to flawed case-selection criteria and partly due to overly generous or overly restrictive logic used in determining causality, neither traditional 'small-N' qualitative designs nor conventional 'large-N' quantitative research designs are optimal for many comparative problems. Third, a relatively new causal comparative methodology based on a data reduction logic rooted in Boolean algebra--Qualitative Comparative Analysis (QCA)--appears of substantial utility in those research sites with relatively large number of cases, causal heterogeneity, and the expectation of delimited theoretical generalizations. These points are then demonstrated through a QCA analysis of comparative patterns of growth and decline of trade union membership across the 18 largest, politically stable capitalist democracies in the 1970s and 1980s.

At the core of a capitalist system is an implied coalition between labor and capital built upon a system of exchange and compromise. Without capital, the material condition upon which labor's interests are realized would be impossible. Likewise, without labor's consent to exchange wages for future investment, capital could not procure the profits and savings necessary for its reproduction and transformation. Organizing stable and cost-efficient class coalitions has long been recognized as not merely an economic priority but a political challenge. Yet, some democracies have met this challenge more successfully than others. For the student of comparative political economy, an enduring question remains: Why? The present study is an attempt to provide an answer that complements and integrates the more common macro- and microanalytic studies of industrial conflict. It is argued here that a useful approach is to explicate some of the major microeconomic dynamics that condition exchanges between labor and capital and to demonstrate how institutional devices designed to accommodate political representation and conflict resolution facilitate or impede the process of class compromise. By employing the logic of transaction-cost economics, the analysis highlights the comparative institutional elements fundamental to economizing on the costs of exchange-shaping consensus within a political economy's industrial relations system. The resulting transaction-cost efficiency model of industrial conflict specifies the ex ante cost factors (price margin of transaction and the institutional control of bounded rationality) and the ex post cost factors (legislative polarized pluralism, executive hegemony, and the frequency of general elections) central to the process of building and sustaining class coalitions. The model is tested on data drawn from 19 democracies covering the years 1965-83. Use of simulation models reveals the relative trade-offs associated with different patterns of ex ante and ex post cost structures.