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As a crucial institutional form established since the Chinese economic reform, the system of competitive local governments has been shaping the characteristics of China's socialist market economy to a considerable degree.

This study not only adopts the view of existing studies that attribute the economic motive of local governments to rent and consider land public finance as a means through which local governments carry out strategic investment but also attempts to further develop the view within a Marxist analytical framework.

As a result, the local governments have helped to maintain an incredibly high investment rate over a considerable period of time, facilitating the continuous, rapid growth of the Chinese economy.

This study concludes that China's local governments function as the productive allocator and user of rent in the strategic investment based on land public finance and thereby embed themselves in the relative surplus-value production initially arising from competition amongst enterprises, forming the dual structure of relative surplus-value production unique to China's economy.

Transnational corporation (TNC)-led oil investments have been widely encouraged as a mechanism for the development of the Global South. Even though the sector is characterized by major accidents, oil-based developmentalist narratives claim that such accidents are merely isolated incidents that can be administratively addressed, redressed behaviorally through education of certain individuals, or corrected through individually targeted post-event legislation. Adapting Harvey Molotch’s (1970) political economy methodology of “accident research”, this paper argues that such “accidents” are, in fact, routine in the entire value chain of the oil system dominated by, among others, military-backed TNCs which increasingly collaborate with national and local oil companies similarly wedded to the ideology of growth. Based on this analysis, existing policy focus on improving technology, instituting and enforcing more environmental regulations, and the pursuit of economic nationalism in the form of withdrawing from globalization are ineffective. In such a red-hot system, built on rapidly spinning wheels of accumulation, the pursuit of slow growth characterized by breaking the chains of monopoly and oligopoly, putting commonly generated rent to common uses, and freeing labor from regulations that rob it of its produce has more potency to address the enigma of petroleum accidents in the global south.

This paper looks at state-owned enterprises (SOEs) from the angle of the market for corporate control and analyzes in detail the reported rationales of a sample of 355 mergers and acquisition (M&A) deals performed by SOEs as acquirers over the period 2002-2012. The purpose of this paper, after having created a taxonomy of deal motivations, is to empirically test two alternative hypotheses: deviation vs convergence of M&A deal rationales between state-owned and private enterprises.

The data set is obtained by combining firm-level information from two sources, Zephyr and Orbis (Bureau Van Dijk). A recursive algorithm is developed to infer the ownership nature of the enterprises at the time the deal took place and then the authors double-checked the identity of the global ultimate owner by visual inspection of all the available information. Motivations are analyzed through a case-by-case analysis and classified into several categories, thereby providing a taxonomy of rationales behind SOE M&As and discussing their differences and similarities relative to private firms.

More than 60 percent of the deals performed by SOEs as acquirers are driven by “shareholder value maximization” motives, similarly to private enterprise acquirers. The other 40 percent of deals are almost equally spread among three rationales that specifically relate to the role of modern state capitalism in the economy. “Financial distress” motivation, which is the only one clearly deviating from the objectives of profit maximization typical of private ownership, is far less important than the others.

The paper does not analyze the case studies in detail. Neither does it correlate the evidence with the quality of corporate governance or the quality of institutions in the country. This would be interesting in order to discover whether the alignment of objectives between public and private enterprises is enhanced by certain features of public sector management, as suggested by the OECD (2015) Guidelines.

The paper suggests some policy implications in terms of reforms of the corporate governance of the SOEs and accountability of their management against clearly stated public missions. It also calls for the need for citizens to be informed in a transparent way about the rationales of major M&A deals when a SOE is on the acquirer side, and the consistency of such rationales with the mission assigned by governments to the enterprises they own. Finally, it underlines that regulatory concerns raised in many countries by the rise of cross-border SOE M&As are in most of the cases unfounded.

Existing literature has mainly focused on private corporate M&A deals or has just disregarded the ownership status of the acquiring firm. This paper focuses on the motivations for SOE deals in order to elaborate a taxonomy of SOE deal rationales and to identify the differences and similarities between private corporate firms.

The paper argues that the classical Marxist theory of capitalist accumulation is inadequate to understand new forms of capitalism and their accumulation processes determined by “platforms” and “big data”. Big data platforms are shaping the processes of production, labour, the price of products and market conditions. “Digital platforms” and “big data” have become an integral part of the processes of production, distribution and exchange relations. These twin pillars are central to the capitalist accumulation processes. The article argues that the classical Marxist theory of capitalist accumulation is inadequate to understand new forms of capitalism and their accumulation processes determined by “platforms” and “big data”.

As a conceptual paper, this paper follows critical methodological lineages and traditions based on non-linear historical narratives around the conceptualisation, construction and transition of the “Marxist theory of capital accumulation” in the age of platform economy. This paper follows a discourse analysis (Fairclough, 2003) to locate the way in which an artificial intelligence (AI)-led platform economy helps identify and conceptualise new forms of capitalist accumulation. It engages with Jørgensen and Phillips' (2002) contextual and empirical discursive traditions to undertake a qualitative comparative analysis by exploring a broad range of complex factors with case studies and examples from leading firms within the platform economy. Finally, it adopts two steps of “Theory Synthesis and Theory Adaptation” as outlined by Jaakkola (2020) to synthesise, adopt and expand the Marxist theory of capital accumulation under platform capitalism.

This article identifies new trends and forms of data driven capitalist accumulation processes within the platform capitalism. The findings suggest that an AI led platform economy creates new forms of capitalist accumulation. The article helps to develop theoretical understanding and conceptual frameworks to understand and explain these new forms of capital accumulation.

This study builds upon the limited theorisation on the AI and new capitalist accumulation processes. This article identifies new trends and forms of data driven capitalist accumulation processes within platform capitalism. The article helps to understand digital and platform capitalisms in the lens of digital labour and expands the theory of capitalist accumulation and its new forms in the age of datafication. While critiquing the Marxist theory of capitalist accumulation, the article offers alternative approaches for the future.

Duncan Foley, a leading heterodox economist, criticizes Adam Smith for narrowness in three respects: his definition of the economy, his notion of the central problem of economics, and his conception of correct policy making. For the most part, this is a misreading of Smith; the charge of fallacy should be attributed to mankind as a whole and especially the economists who followed him, not Smith himself. Yet, although Smith evidently did not feel that matters would work out as they did, he identified and emphasized both the causal mechanism for the narrowness and the motive behind it. The causal mechanism is the division of labor and the motive is status emulation—the quest for social recognition and moral approval, if not also power—achieved through the belief that more goods are better than fewer goods—all induced by the great deception that wealth is important, thereby leading people to frenetically better their condition. The genius of Smith was to have articulated the material and conceptual baggage accompanying the newly arrived commercial stage of Western civilization. Still, it is rather difficult to ascertain what of Smith's account is provided by his study of the stage itself and what is due to his own imagination.

Introduction It has been said that the word imperialism is no word for scholars. It is too value‐laden and uncertain in its meaning, a meaning which has altered with the passage of time. Nevertheless, taking account of its current use, the definition given by Benjamin Cohen (1974, p. 16) seems to be relevant. He defines imperialism as “any relationship of effective combination or control, political or economic, direct or indirect, of one nation over another”. This definition covers old and new imperialism and neo‐colonialism or neo‐imperialism even though it can be charged that it is too wide to be helpful (Mommsen, 1981) especially bearing in mind that the political or economic dependence of one state or set of states on another is relative (Barratt Brown, 1974). Indeed, unequal economic and political relations between nation states appear to be normal or usual, some might even say inescapable, no matter what is the economic system of the day and it is debatable whether all international political and economic relationships involving some degree of one‐way dependence should be described as involving imperialism.

This study aims to analyse the impact of digital divide (DD) on income inequality in sub-Saharan Africa over the period 2004–2016.

In applying a finite mixture model (FMM) to a sample of 35 sub-Saharan African (SSA) countries, this study posits that DD affects income inequality differently.

The findings show that the effect of DD on income inequality varies across two distinct groups of countries, which differ according to their level of globalization. In addition, the study shows that most globalized countries are more inclined to be in the group where the effect of DD on income inequality is negative. The results are consistent with several robustness checks, including alternative measures of income inequality and additional control variables.

This study complements that extant literature by assessing linkages among the DD, globalization and income inequality in sub-Saharan African countries contingent on cross-country heterogeneity.

This study investigates if wealth from natural resources impacts child health in developing countries.

The methodology includes testing the effect of rents from natural resources on under-five mortality rates using a multifactor health production model for 57 developing nations. The panel estimation procedure was applied to data covering 2002 to 2017, disaggregated by non-renewable and renewable resources and low and medium human development countries.

The results provide strong evidence that wealth from total natural resources has not been associated with reductions in under-five mortality rates. However, disaggregation of the sample countries by natural resource constituents revealed that only the wealth of non-renewable is strongly inversely associated with under-five mortality rates. Further disaggregation of countries by the low and medium human development constituents revealed a statistically insignificant negative correlation of non-renewable resources wealth and under-five mortality in the low human development countries. In contrast, the results of the medium human development countries revealed that wealth from natural resources (both non-renewable and renewable) had not been associated with any reductions in under-five mortality rates. The results also confirm that immunization levels, nutrition, private spending on health care, air quality, urban living and countries closer to the equator are other strong correlates of under-five mortality rates in low human development countries.

The findings here have implications for the timely achievement of the United Nations Sustainable Development Goal 3 (to reduce under-five deaths to around 25 per 1,000 live births by 2030). Governments ought to ensure that incomes from the extractive sector are aligned in forms that promote and feed into improving child health wellbeing.

This research creates a shift from aggregate health wellbeing research agenda to investigate how specific aspects of human development can be linked to wealth from non-renewable and renewable natural resources in developing nations. It adds new knowledge and provides health and natural resources policymakers opportunities to combine their policies and synergize efforts to improve child health outcomes.

One of the several claims that Seligman makes for Rooke is that he should be accorded priority in the discovery of the correct, that is Ricardian, doctrine of rent:there seems little doubt that the doctrine of rent was developed practically simultaneously by Malthus, West, Torrens and Rooke in 1814, but so far as the priority of actual publication is concerned, the above list should be reversed. And in the interests of historical accuracy, Rooke and Torrens must hereafter be accorded the position which they deserve. (Seligman, 1903, p. 512)¹