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Book part
Publication date: 30 October 2020

Pierre de Saint-Phalle

In 1767, did Sir James Steuart predict the political and financial crises that started the French Revolution? Étienne de Sénovert, the editor and translator of Steuart’s work…

Abstract

In 1767, did Sir James Steuart predict the political and financial crises that started the French Revolution? Étienne de Sénovert, the editor and translator of Steuart’s work, seems to argue to this effect in the introduction to the first French edition of An Inquiry into the Principles of Political Economy in 1789. The visionary “prediction” set forth by Steuart was the following: if the king of France had introduced public credit, this would have changed the political balance in French political society, making it very unstable. The English and the French governments used different ways of borrowing money in 1760: the French king contracted debts with a network of financiers close to the government, while the English government borrowed on the credit markets through the intermediary of the Bank of England. The second of these methods constitutes public credit and has proved its efficiency. According to Steuart, implementing the English public credit system in France could have dangerous consequences. Landed interests and moneyed interests would compete for the control of the State. The author realized that the French nobility, the landowners, as a social and economic group would have no chance in facing such a powerful rival (the public creditors). In this chapter, the author analyzes Steuart’s “prediction” as a coherent part of his systematic and original approach to political economy. Steuart’s theories about the role of political economy and the role of “interest” are connected to his understanding of institutions. Introducing such a complex support for the value as public credit might have different consequences in France and England. Steuart thinks each country’s economy should be analyzed according to its own institutional and social context.

Steuart’s work was still relevant in 1789 for two reasons. Firstly, the author’s prediction of political antagonism between capitalists and nobility anticipated the political conflict about debt expressed by pamphleteers such as Sieyès, Mirabeau, and Clavière between 1787 and 1789. This is the context of Étienne de Sénovert’s claim: the political narrative built by the revolutionaries of 1789 (rescuing the “sacred” public debt from royal despotism) fitted Steuart’s prediction. This may have been the incentive for the translation and publication of his work in 1789 and 1790. Secondly, Steuart’s financial and monetary theory was at the heart of the project of financial reform that would lead to the assignats. Steuart’s (1767) theory of public finance and state power in 1789 provides a key to the understanding the events of the time, and to how actors tried to make sense of them. Steuart made another crucial observation about the deep effect of what he called “the modern economy” upon the power of the governments of Europe: even an absolute monarch could not damage public credit without destroying his own sovereignty.

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Research in the History of Economic Thought and Methodology: Including a Symposium on Sir James Steuart: The Political Economy of Money and Trade
Type: Book
ISBN: 978-1-83867-707-7

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Book part
Publication date: 20 November 2017

Steve Redhead

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Theoretical Times
Type: Book
ISBN: 978-1-78714-669-3

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Inventing Mobility for All: Mastering Mobility-as-a-Service with Self-Driving Vehicles
Type: Book
ISBN: 978-1-80043-176-8

Book part
Publication date: 17 June 2009

Simon Stander

Capitalism has proved to be by far the best society at producing surpluses. Other societies at particular points in history have been effective, too. For instance Ancient…

Abstract

Capitalism has proved to be by far the best society at producing surpluses. Other societies at particular points in history have been effective, too. For instance Ancient Egyptians were obviously good at it, directing their surplus into building pyramids and great monuments. The Mayans, Incas and Aztecs were good at it too, in the same way as were the Neolithic builders of Stonehenge in England, the Callinish stones in the Hebrides and Carnac in Britanny. Capitalism, however, is unique in the sense that its capacity to produce surpluses far exceeds that of any other period or system. In addition, the capitalist system involves a threefold possibility for the utilization of the surpluses: consumption by individuals, consumption by the state for civil and military purposes and reinvestment by capitalists to produce more surplus. The balance among these three determines the stability of the system and the pace of growth. Consumption by the state is the least new phenomenon; here again, the pyramids of the Aztecs, Mayans and Egyptians are examples. What is new, and certainly new on the scale we now observe, is that the capitalist system is dependent on those individuals who collectively make up the absorptive class, and on the host of small and medium capitalists and the huge corporations to reinvest the surplus to make more capital. However, the system as a whole serves to destroy the surpluses when capitalist processes are such that the capacity to consume diminishes in relation to the quantities produced.

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Why Capitalism Survives Crises: The Shock Absorbers
Type: Book
ISBN: 978-1-84855-587-7

Book part
Publication date: 10 November 2023

Chamila Subasinghe and Barry Cooper-Cooke

Pulse check on discipline degrees for changed status quo is vital to ensure global futures for international enrolments (IEs). While employers spend less on training and more on…

Abstract

Pulse check on discipline degrees for changed status quo is vital to ensure global futures for international enrolments (IEs). While employers spend less on training and more on innovating, can IEs manage time spent wisely and profitably (self-sufficiency) via collecting demand-driven credentials (micro-credentialing, Mc)? Due to limited research on Multidisciplinary, Micro-credentialing (MdMc), communication among stakeholders becomes difficult – there is no sense of self-sufficiency and course crossbreed lags; thus, diploma initiatives rarely succeed. Hence, MdMc aims to generate industry-necessitated, new knowledge hybrids where courses could generate adaptable Md links and intersections towards self-sufficiency. We propose a methodology based on Md content analysis on rapidly deployable knowledge bases suitable for multisector employability: a market survey to identify new knowledge areas. The outcome is to be knowledge mapped to identify gaps in skills required for applications to meet across disciplines. Finding the nature of these gaps intends to present possible knowledge links and intersections among courses. Diagrammatised and textual analysis of self-sufficiency-related benefits that could forge robust faulty-industry partnerships will be discussed – to demonstrate fluidity between credentials and careers. The resulting MdMc rigour model would present avenues for new content, training programmes, and a potential HE-industry manifesto. This MdMc model may offer a quick and dynamic process of epistemic, accessibility and instructional rigour checks to achieve professional currency towards self-sufficiency for IEs.

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Introducing Multidisciplinary Micro-credentialing: Rethinking Learning and Development for Higher Education and Industry
Type: Book
ISBN: 978-1-80382-460-4

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Book part
Publication date: 21 November 2022

Ken Sloan

This chapter considers the reasons for appointing external leaders to higher education institutions, and how to support and retain them. Outsiders can bring a particular set of…

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This chapter considers the reasons for appointing external leaders to higher education institutions, and how to support and retain them. Outsiders can bring a particular set of skills that can be valuable to modern higher education institutions and which are complementary to the skillsets of ‘expert’ academic leaders. The success of injecting ‘otherness’ into institutions is an active and ongoing process if the benefits sought after are to be realised. Three scenarios are given particular attention: being recruited from a different sector; being recruited to a higher education institution in another country and arriving in the sector having followed a very different career path. For each scenario, factors are identified that can enable a positive impact and contribution. Some of the unintentional and unforeseen barriers that can hamper such leaders having the desired impact are also identified.

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International Perspectives on Leadership in Higher Education
Type: Book
ISBN: 978-1-80262-305-5

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Book part
Publication date: 15 November 2002

Karin Alejandra Rosemblatt

This essay analyzes how elite and subaltern efforts to regulate gender, sexuality, and family, helped define the class and race contours of the nation. It examines the Chilean…

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This essay analyzes how elite and subaltern efforts to regulate gender, sexuality, and family, helped define the class and race contours of the nation. It examines the Chilean nation building process, which has generally been conceptualized in class terms, alongside other countries, where there is a denser historiography on race, to demonstrate that national identities were constructed on a common, racialized, discursive terrain. The reformist and populist alliances that emerged throughout Latin America in the 1920s and 1930s drew from newer scientific discourses of race and eugenics but also reworked racialized colonial and nineteenthcentury articulations of gender and citizenship.

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Political Power and Social Theory
Type: Book
ISBN: 978-1-84950-154-5

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Histories of Economic Thought
Type: Book
ISBN: 978-0-76230-997-9

Book part
Publication date: 13 March 2019

Maddi McGillvray

The horror genre is and always has been populated by women, who can be seen to be at once both objectified and empowered. Building off the preexisting gender hierarchies and…

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The horror genre is and always has been populated by women, who can be seen to be at once both objectified and empowered. Building off the preexisting gender hierarchies and dynamics embedded in the history of horror cinema, this chapter looks at a number of New French Extremity films that assault audiences with unrelenting scenes of violence, torture and self-mutilation, which are performed almost exclusively upon or by women. Although the films of the New French Extremity have been dismissed as exploitative in their representations of wounded and suffering female bodies, their narratives also offer internal criticisms of the misogynistic portals of victimhood that are prevalent in the genre. Through a close analysis of the films Inside (Bustillo & Maury, 2007) (French title: À L’intérieur) and Martyrs (Laugier, 2008), this chapter will examine how both films deviate from the male monster/female victim dichotomy. Although the women of these films may start off vulnerable, they take charge of their situations, while also compacting the nature of feminine identity.

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Gender and Contemporary Horror in Film
Type: Book
ISBN: 978-1-78769-898-7

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Research in the History of Economic Thought and Methodology: Including a Symposium on Sir James Steuart: The Political Economy of Money and Trade
Type: Book
ISBN: 978-1-83867-707-7

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