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Article
Publication date: 1 March 1985

Tomas Riha

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and…

1877

Abstract

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

Details

International Journal of Social Economics, vol. 12 no. 3/4/5
Type: Research Article
ISSN: 0306-8293

Book part
Publication date: 20 May 2011

Harry F. Dahms

Despite profound differences, both the German Historical School and the critical theory of the Frankfurt School have in common a theoretical and cultural heritage in…

Abstract

Despite profound differences, both the German Historical School and the critical theory of the Frankfurt School have in common a theoretical and cultural heritage in Central European traditions of social thought and philosophy. Although both schools often are perceived as quintessentially German traditions of economic and social research, their methodological presuppositions and critical intent diverge strongly. Since the objective of the Frankfurt School was to carry the theoretical critique initiated by Marx into the twentieth century, and since its members did so on a highly abstract level of theoretical criticism, the suggestion may be surprising that in terms of their respective research agendas, there was a common denominator between the German Historical School and the Frankfurt School critical theory. To be sure, as will become apparent, the common ground was rather tenuous and indirect. We must ask, then: in what respects did their theoretical and analytical foundations and orientations overlap? How did the German Historical School, as a nineteenth-century tradition of economic thinking, influence the development of the Frankfurt School?

Details

The Vitality Of Critical Theory
Type: Book
ISBN: 978-0-85724-798-8

Book part
Publication date: 17 June 2009

Simon Stander

Adam Smith, it is generally acknowledged, founded the modern discipline of political economy with the study entitled An Inquiry into The Wealth of Nations (1776) which he…

Abstract

Adam Smith, it is generally acknowledged, founded the modern discipline of political economy with the study entitled An Inquiry into The Wealth of Nations (1776) which he built upon the ethical system he presumed to exist in his Theory of Moral Sentiments (1759). Ricardo took Smith's observations somewhat further with his publication of On the Principles of Political Economy and Taxation (1817). When John Stuart Mill wrote his Principles of Political Economy in 1848, his considerations of economic processes were intimately connected with the political. By the time Marx published Das Kapital as a critique of political economy in 1867 the term was entrenched in both academic life and in common parlance and political circles. The study of economics was an integral part of the study of the state. Ironically, however, political economy was about to be upstaged by the development of economics as a separate and positivist discipline. William Stanley Jevons had published his “Brief Account of a General Mathematical Theory of Political Economy” in the Journal of the Royal Statistical Society in the previous year. This was much more widely read at the time than Das Kapital. By 1890, Alfred Marshall had published his Principles of Economics. The book began with these words: “Political economy or economics is a study of mankind in the ordinary business of life.” The great tradition of seeing economics as an integral part of politics and vice versa was disappearing. However, though economists were anxious to convert that part of political economy known as economics and see it as a scientific discipline, the reality, that is the integrated nature of the state and the economy, remained. Simply because certain ideologues decided to separate politics from economics did not mean that the state in any sense disentangled itself from the economy or the economy from the state.

Details

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

Book part
Publication date: 7 December 2011

Manoranjan Dutta

The General Theory of Employment, Interest and Money by John Maynard Keynes (1936) gave us the macroeconomic theory for an economy of a sovereign nation state. Concerned…

Abstract

The General Theory of Employment, Interest and Money by John Maynard Keynes (1936) gave us the macroeconomic theory for an economy of a sovereign nation state. Concerned students of macroeconomics may study earlier works. Did Karl Marx's Das Kapital and the Physiocrats' A Tableau Economique offer to teach us some aspects of macroeconomics? One may venture to suggest that Arthashatra by Kautilya, written in Sanskrit some two thousand years ago, was an ancient treatise on macroeconomics.

Details

The United States of Europe: European Union and the Euro Revolution, Revised Edition
Type: Book
ISBN: 978-1-78052-314-9

Book part
Publication date: 22 September 2015

Radhika Desai

This introduction to the essays that follow argues that the chief problem with the dominant understanding of world affairs in the disciplines of International Relations…

Abstract

This introduction to the essays that follow argues that the chief problem with the dominant understanding of world affairs in the disciplines of International Relations and International Political Economy, including their Marxist versions, is an a historical, non-contradictory and economically cosmopolitan conception of capitalism. In their place, geopolitical economy is a new approach which returns to the conception of capitalism embodied in the culmination of classical political economy, Marxism. It was historical in two senses, distinguishing capitalism as a historically specific mode of social production involving by value production and understanding that its contradictions drive forward capitalism’s own history in a central way. This approach must further develop and specify uneven and combined development as the dominant pattern in the unfolding of capitalist international relations, one that is constitutive of its component states themselves. Secondly, it must understand the logic of the actions undertaken by capitalist states as emerging from the struggles involved in the formation of capitalist states and from the contradictions that are set in train once capitalism is established. Finally, it must see in the ways that class and national struggles and resulting state actions have modified the functioning of capitalism the possibilities of replacing the disorder, contestation and war that are the spontaneous result of capitalism for international relations the basis for a cooperative order in relations between states, an order which can also be the means for realising the permanent revolution and solidifying its gains on the international or world plane.

Details

Theoretical Engagements in Geopolitical Economy
Type: Book
ISBN: 978-1-78560-295-5

Keywords

Book part
Publication date: 7 December 2011

Manoranjan Dutta

Literature on economic cooperation among sovereign nation state economies has been extensive. In the post-WWII decades, the two Bretton Woods institutions, the…

Abstract

Literature on economic cooperation among sovereign nation state economies has been extensive. In the post-WWII decades, the two Bretton Woods institutions, the International Monetary Fund (IMF) and the World Bank (WB) each with 184 Member States, have been instituted to sustain the global financial system for the noncommunist free-market economies. Under the umbrella of the United Nations, which currently has a membership of 192, the institutions, such as United Nations Conference on Trade, Aid and Development (UNCTAD), United Nations Educational, Scientific and Cultural Organization (UNESCO), United Nations Institute for Research and Training (UNITAR), World Health Organization (WHO), the World Food Organization (WFO), have their respective economic assignments. The World Trade Organization (WTO), currently with 148 memberships, has been much involved in the negotiation of global trade agreements; an international regime of free and competitive trade has been a subject of substantive negotiations. The WTO came out of the General Agreement on Tariffs and Trade (GATT).

Details

The United States of Europe: European Union and the Euro Revolution, Revised Edition
Type: Book
ISBN: 978-1-78052-314-9

Book part
Publication date: 11 July 2007

Angela Joya

This paper examines the transformation of Syrian political economy from 1970 until 2005. I argue that Syria has undergone two important phases of political and economic…

Abstract

This paper examines the transformation of Syrian political economy from 1970 until 2005. I argue that Syria has undergone two important phases of political and economic transformation, from building a centralized state and economy in the early 1970s to embarking on the path of market economy in the early 1990s. With the logic of competitiveness guiding the direction of economic development, the socio-economic changes of the mid-1980s and after have corresponded with an important process of class and state formation. After a brief discussion of the current transition in Syria, the following sections of the paper attempt to provide a critical study of the different strategies for economic development. Section two examines the process of state and economic centralization of the 1970s and 1980s and highlights the contradictions of this period. Section three assesses the impact of economic liberalization through a study of competitiveness in the economic policies of the 1990s and 2000. The final section examines the economic and political impasse that Syria has been faced with. In conclusion, I argue that the current path of market economy as the strategy for capital accumulation has not resolved the socio-economic problems that Syria has faced in the last two decades. This strategy will continue to face contestation by marginalized groups such as factions of the Baath Party, landless peasants, workers and small producers as Syria becomes even more integrated into the regional and global economy.

Details

Transitions in Latin America and in Poland and Syria
Type: Book
ISBN: 978-1-84950-469-0

Open Access
Article
Publication date: 13 February 2019

Tariq H. Malik and Chunhui Huo

This paper aims to assess the comparative position of the national innovation system of Chinese state entrepreneurship versus liberal market entrepreneurship. Based on the…

1681

Abstract

Purpose

This paper aims to assess the comparative position of the national innovation system of Chinese state entrepreneurship versus liberal market entrepreneurship. Based on the comparative institutional framework, it asks whether Chinese state entrepreneurship has a comparative disadvantage because of its incoherent institutions in liberal or coordinated economies. Hence, does the Chinese institutional system of innovation lag behind that of US or liberal countries of Organisation for Economic Co-operation and Development (OECD) economies in the transformation of national science into economic products measured as high-technology exports?

Design/methodology/approach

This study uses panel data analysis based on 29 OECD economies and the Chinese economy over 23 years. Regarding national science productivity (explorative capabilities), it includes published and patented science streams; regarding technological transformation (exploitative capabilities), it measures the percentage of high-technology exports in gross domestic product (GDP). The interactions between the types of entrepreneurship and national science institutions serve as predictors in the design.

Findings

The results show that Chinese state entrepreneurship has a comparative advantage over liberal economies in published science. However, Chinese state entrepreneurship has a comparative disadvantage compared to liberal entrepreneurship in patent science. Regarding the dyadic level of comparability between the national economies, there are mixed results in the transformation of national science.

Research limitations/implications

This study supports the three following theoretical points: national institutions differ regardless of the pressure of convergence through globalization; national science contingencies influence different paths of the transformation of national science to technology; and mixed economies, such as state entrepreneurship, can achieve high performance without fully conforming to liberal markets.

Practical implications

This study emphasizes institutional mechanisms for future research to support the innovation of incoherent institutions and suggests the benefit of cross-pollination of senior managers between state and private organizations for a defined duration.

Originality/value

Theoretically, this research combines an interdisciplinary and interinstitutional level of analysis, and in so doing, it deals with the transformation of national science in scientific publications and patents in the vertical value chain. Empirically, this study links the national published and patented science with the national economic artifacts in high-technology sectors. This novel approach to assess the national and discipline-level interaction sets a context for the future research in other settings. It also informs policy decisions regarding the growth of science, innovation and development.

Book part
Publication date: 29 October 2018

Yulia V. Ragulina, Leonid F. Malinovski, Yuliya A. Agunovich, Larisa A. Kapustyan and Oksana M. Zaryankina

The purpose of this chapter is to develop criteria of effectiveness of state management of the process of implementing the information economy’s optimization model…

Abstract

Purpose

The purpose of this chapter is to develop criteria of effectiveness of state management of the process of implementing the information economy’s optimization model, determine the corresponding indicators, and offer the method of evaluation of the effectiveness of state management of the process of implementing the information economy’s optimization model.

Methodology

This research applies the methods of induction, deduction, structural and functional analysis, and graphical presentation of information.

Results

Based on the peculiarities of the information economy’s optimization model, three main criteria of the effectiveness of state management while implementing this model are distinguished: flexibility of the normative and legal provision of information economy; balance of the level and rate of development of the noosphere components; and success of the protection, usage, and preservation of information’s uniqueness. To distinguish these criteria it is offered to evaluate the effectiveness of state management of the process of implementation of the information economy’s optimization model by progressive comparison of the sum of results with the sum of limitations and costs for each direction of state management of the process of implementation of the information economy’s optimization model, related to the provision of observation of the above criteria. The author determines the indicators that conform to the offered criteria of effectiveness of state management of the process of implementation of the information economy’s optimization model systematized in connection to these criteria, and offers the formula for calculating the final indicator of the effectiveness of state management of the process of implementation of the information economy’s optimization model.

Recommendations

The offered criteria of effectiveness of state management of the process of implementing the information economy’s optimization model, the corresponding indicators, and the compiled methodology of evaluating the effectiveness of this process are recommended for usage as methodological provision of monitoring and control of implementation of the information economy’s optimization model.

Article
Publication date: 4 July 2016

Changhwan Shin

With the aim of finding a balance between social and economic benefits, the social economy has reemerged in the crisis of the welfare state. The Fordist welfare state can…

2162

Abstract

Purpose

With the aim of finding a balance between social and economic benefits, the social economy has reemerged in the crisis of the welfare state. The Fordist welfare state can be characterized by state-provided welfare, the mediation of paid work and welfare by the labor market and redistributive policies. Globally, neoliberalism and the market have given rise to social exclusion; in this context, the social economy is emerging as an alternative to the market domination of societies. This paper aims to construct a conceptual framework of welfare provision in an open innovation era.

Design/methodology/approach

The welfare state system between the Fordist welfare state and post-Fordist welfare state is different on provision and delivery of welfare service. To construct the conceptual relation among the social economy, the state and the market and welfare provision in the social economy, this study mainly used the literature review.

Findings

Attention should be paid to civil society at the local level to ignite social economy through open social innovation. Various social actors in the local community need to change and develop the social economy with collaborative entrepreneurship and collaborative economic mindsets.

Research limitation/implications

This paper presents the welfare service model led by social economy and open innovation, as well as social change. To fill the shortage of welfare provision caused by crisis of the welfare state, social economy is considered as an alternative for neo-liberalism. This study emphasizes that endogenous local development is a prerequisite for social economy as a welfare supplier.

Practical implications

In the social economy, reciprocity, democracy, self-help and social capital at the local level are emphasized. Also, open innovation put emphasis on collaboration economy among the local community, firms and the public sector: this emphasis can be expected to affect the welfare provision system and the social relations surrounding welfare. To address social problem and social needs, the social economy can adapt and apply the open innovation model.

Originality/value

The previous researches on open innovation mainly deal with the business sector and the public sector, but this paper has a focus on the relation between provision of social welfare and social innovation. The social economy is likely to function properly on the foundation of open social innovation.

Details

Journal of Science and Technology Policy Management, vol. 7 no. 2
Type: Research Article
ISSN: 2053-4620

Keywords

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