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1 – 10 of over 8000André Gide's prophetic words during an interview at Karlsbad in 1933: “Hitler represents a delay in the progress of humanity. There will be another peaceful Revolution in Spirit …
Abstract
André Gide's prophetic words during an interview at Karlsbad in 1933: “Hitler represents a delay in the progress of humanity. There will be another peaceful Revolution in Spirit — different from Capitalism, Socialism‐Communism and Fascism — which will guide the development of humanity to its right destination.”
This is the second part of a long investigation under the title of, Principia Oeconomica; the first having appeared in this journal in 1986. The substance of the argument in this…
Abstract
This is the second part of a long investigation under the title of, Principia Oeconomica; the first having appeared in this journal in 1986. The substance of the argument in this contribution is in the form of a dialogue with Henri Guitton, member of l'Institut de France and author of a book in French, De l'Imperfection en Economie (1979). Guitton is leading a new French Economic School critical of a modern economy characterised by ‘Econosm” or “Economy of Counter‐sense”. Economism refers to the practice of conceiving problems of a modern society in strictly economic‐accounting terms and neglecting a host of social and human aspects. The second term means that the sole attention given to growth in production did not increase the happiness of man but on the contrary it created for him new problems (pollution, noise, atomic radiation and other hazards). To cope with these problems, the French school recommends wise policies which Guitton called “creative imperfection”. Guitton's presentation is followed step by step, with an interpretation in terms of stable equilibrium. The recommendation stresses structural reforms to solve the same problems but following a road of “creative perfection” leading to the same goal sought by Guitton: a better world of tomorrow.
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Whenever capitalism in the West appears to be dragging with unresolved problems, then quite a few people, including professional economists, begin to think that perhaps socialism…
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Whenever capitalism in the West appears to be dragging with unresolved problems, then quite a few people, including professional economists, begin to think that perhaps socialism is a better alternative. Conversely, in the East even a larger number of people, including economists (who are not activists), seriously believe that in view of their shortages and meagre incomes capitalism would be a better alternative.
The first Principia Mathematica (1686) by Sir Isaac Newton with reference to natural philosophy and his system of the world has largely contributed to the first revolution in…
Abstract
The first Principia Mathematica (1686) by Sir Isaac Newton with reference to natural philosophy and his system of the world has largely contributed to the first revolution in scientific thinking in modern times. It has created the conceptual basis of modern science in the classical tradition by providing the tools of analysis and the technique of reasoning in terms of stability—from—within or, as we would say today, the model of stable equilibrium conditions.
The economic science is again in a crisis and a new solution prolegomena to any future study in economics, finance and other social sciences has just been published by the…
Abstract
The economic science is again in a crisis and a new solution prolegomena to any future study in economics, finance and other social sciences has just been published by the International Institute of Social Economics in care of the MCB University Press in England. The roots of the major financial and economic problems of our time lie in an open conflict between theory and practice. In the 1930s and before the conflict was between classical theory and given realities. In the 1990s the conflict appears between the now prevailing modern, Keynesian theory and the actual realities. In addition during the twentieth century a great argument developed between the two schools of thought, argument which is not yet settled. In one sentence, the prolegomena tried and was successful to solve the conflict between theory and practice and the big doctrinal dispute of the twentieth century. It was a struggle of research and observation over half a century between 1947 and 1997.
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Mohammad Jasim Uddin, Fara Azmat, Yuka Fujimoto and Farhad Hossain
Despite considerable research and constant pressure from global media, exploitation has been a persistent problem in the Bangladeshi ready-made garment (RMG) supply chain. Yet…
Abstract
Purpose
Despite considerable research and constant pressure from global media, exploitation has been a persistent problem in the Bangladeshi ready-made garment (RMG) supply chain. Yet, the root causes of how and why exploitation still persists remain unexplored. This paper explores the reasons underlying the existence of exploitation in the RMG supply chain of Bangladesh using the theoretical lens of responsible capitalism.
Design/methodology/approach
Drawing on 98 interviews conducted at multiple levels of the RMG supply chain ecosystem, site visits, observation and archives, the authors unpack the underlying reasons for the existence of exploitation in Bangladeshi RMG supply chain.
Findings
Using the theoretical lens of responsible capitalism, the findings suggest the existence of exploitation as a multifaceted yet nuanced phenomenon that is a result of complex power dynamics, interdependency and interconnectedness of players at multiple levels of the supply chain. The authors extend responsible capitalism theory by adding local context as a key determinant for the RMG supply chain to be responsive, effective and sustainable. The authors further argue the need for a new business model in global supply chain that calls for a fundamental shift of businesses towards responsible capitalism via transformative actions at multiple levels for balancing power in relationships, generate profit with ethical integrity and take responsibility of the consequences of their actions.
Research limitations/implications
The authors use a contextualized case study of the RMG supply chain in Bangladesh using a critical realist approach. Although the use of contextualized case study has enabled better understanding of causal relationships between management practices and exploitation in the local context of Bangladesh, a quantitative approach to establish causality between different factors could be the focus of future research. The findings are specific to the context of Bangladeshi RMG supply chain and may have limited generalizability in other contexts. Further studies may build upon the findings to explore exploitation in RMG supply chain of other sectors and countries in the region and compare the findings to develop comprehensive understanding about the root causes of exploitation.
Practical implications
The findings call for a fundamental shift of business towards responsible capitalism via transformative actions of multiple players across different levels of the supply chains with managerial implications.
Originality/value
By drawing on empirical research, the authors provide a holistic perspective of responsible capitalism that is influenced by interactions and interconnectedness of players in multiple levels of the supply chain. The authors expand the responsible capitalism theory by adding local context as a key determinant that need to be considered for supply chains to be responsive, effective and sustainable.
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Looks at the impact John Maynard Keynes and the movement (Keynesian) he started had on the theory and practice of economics in the 1930s and onwards. Identifies respective…
Abstract
Looks at the impact John Maynard Keynes and the movement (Keynesian) he started had on the theory and practice of economics in the 1930s and onwards. Identifies respective problems about capitalism and discusses them in depth. States that the monetary and fiscal policies recommended by Keynes have helped the West escape severe social consequences in the aftermath of the Great Depression. Goes on to show how economists after Keynes carried his work forward and upward in the 1940s and 1950s. Closes by stating there is a further, third revolution in economic thinking on the rise.
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The celebrated “Weber thesis” is, in essence, an assertion of causal connections among four terms, namely the “protestant ethic” (PE), the “spirit of capitalism” (SC), “modern…
Abstract
The celebrated “Weber thesis” is, in essence, an assertion of causal connections among four terms, namely the “protestant ethic” (PE), the “spirit of capitalism” (SC), “modern western capitalism” (MWC) and the “industrial revolution” (IR), as follows:
Tony Tinker and Rob Gray
Sustainability – in the sense of a system of deep‐rooted social justice and a fair and responsible allocation and use of ecological resources – requires a political philosophy…
Abstract
Sustainability – in the sense of a system of deep‐rooted social justice and a fair and responsible allocation and use of ecological resources – requires a political philosophy adequate to its unique task in effecting change. Traditional Cartesian epistemes, that rely on formalistic policy declarations and which appeal to morality, are seen as inadequate without a rigorous historical and politically informed praxis, wherein our own cognitive, spiritual, and aesthetic development is seen as integral to developing processes “out there”. Several examples of attempts to form organic ties are provided to illustrate the use of praxis as a methodology of intervention.
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Chad S. Seifried and Milorad M. Novicevic
This paper aims to trace and/or historicise modernisation as a conceptual framework from the antecedents to present times. It also highlights the recent and past attention…
Abstract
Purpose
This paper aims to trace and/or historicise modernisation as a conceptual framework from the antecedents to present times. It also highlights the recent and past attention provided to modernisation by business and economic history scholars to recognise their contribution.
Design/methodology/approach
This paper is a literature review which offers a sample of debate from foundational scholars regarding the concept of modernisation emanating from sociologists, historians and business scholars. To present an analysis of the recent activity from business scholars on modernisation from highly recognizable journals and draw conclusions about the conceptual framework regarding its future as a framing device, the authors used search functions in the Business Source Complete database and specific journal search engines.
Findings
A keyword search of modernisation produced 45 published articles from 2000 to 2016 in business-related history and Financial Times top 50 journals. The foremost recognizable aspect of modernisation, as a construct presented here, demonstrates the concept that aims to illustrate a basic and/or universal pattern of the social processes that primarily affect development (e.g. cultural, economic, organisational, ecological, technological, etc.). Moreover, the authors demonstrate that economic and business scholars helped identify and explain different types of modernisation, reinforce or connect specific characteristics to modernisation, develop modernisation as an index capable of measurement and provide evidence of modernisation as a rhetorical strategy.
Originality/value
Little to no previous studies on modernisation emphasised on the contribution of business and economic historians; instead, they focused on the contributions of sociologists and social historians. Business and management historians served as an important voice in the development of modernisation as a conceptual frame. They highlighted the opportunities that are available to position modernisation as a useful tool to predict the future of traditional and advanced organisations.
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