The development of capitalism in South African agriculture: clas struggle in the countryside

The existence of contradictions within the Ricardian system is by now well established. It remains, however, to consider the necessity of those contradictions. In this essay certain of the central paradoxes of Ricardian economics are treated not in terms of the deficiencies of Ricardo's analytical ability, the lack of proper ‘tools’, or the presence of ideological blinders, but in terms of their intrinsic necessity within the Ricardian conception of the capitalist economic system as a whole. We indicate how Ricardo's own insight into the functioning of the capitalist economy drives him to adopt principles of value which he himself considers to be in conflict. In light of this discussion it is possible to approach more closely to a determination of the essential character of Ricardian economics and of classical political economy as a whole.     

The intellectual legacy of Gordon Tullock

Gordon Tullock is one of the world’s leading economists. Even more so than Chicago’s Gary Becker, Tullock has extended the rational choice model into areas previously judged to lie outside the realm of economics. This essay identifies Tullock’s contributions to constitutional political economy, public choice, bureaucracy, the law, and bio-economics. The essay focuses attention most especially on Tullock’s pioneering contributions to public choice, including his twenty-year editorship of Public Choice.     

Clarity of responsibility and economic evaluations

Convincing scholarly evidence shows the economy directs the mass public's support for parties and leaders. But the extent of economic voting depends on a country's “clarity of responsibility.” According to several scholars, political clarity is important because it determines whether people link national economic performance to the parties in government. This study explores a potential second role, which involves how clarity moderates the strength of partisan-motivated reasoning. Clarity of responsibility makes the economy more or less central to party politics. It could therefore moderate people's motivation to rationalize economic facts in a biased direction. Using cross-national survey data, this study tests this possibility by examining economic disagreement between people who support a party in government and those who support the opposition. Results from a Bayesian multilevel regression show that partisan disagreement varies systematically with clarity of responsibility. This finding raises new questions about cross-national differences in economic voting.     

The global economic crisis and domestic political agendas

There is an ongoing debate within the economic voting literature about whether the economy's salience systematically fluctuates over time or is constant. The recent global economic slowdown provides leverage to test the proposition that voters give greater weight to economic performance when it is weak. Data on voters' issue priorities from 2000 to 2011 shows that voters were more likely to consider the economy an important issue during periods of bad or volatile economic performance. A weak economy also focuses voter attention on corruption and crime while reducing attention to social policy and foreign affairs. Crime rates, terrorist attacks, globalization, and the level of development also affect the economy's place on the electoral agenda. Thus one impact of the recent financial downturn was a shift toward economic voting in countries where it was deepest.     

Administration in a small capitalist state: The Hong Kong experience

This article is primarily concerned with the functions of bureaucracy in a minimal state and with how those functions might change in response to economic growth. It is predicated on the assumption that bureaucracy is necessary for economic growth even in those countries which seek to achieve such growth through the relatively free operation of the economy within the rubric of a capitalist state. Hong Kong is a case in point. Although it has often been taken as the epitome of the benefits which can be derived from keeping government out of the economy, the bureaucracy has in fact played a critical role in support of economic development. Aside from the functions which must be performed by any state, such as the maintenance of law and order, the administration of justice, and the provision of public works, three features of Hong Kong bureaucratic practice appear to have been important in the definition of the bureaucracy's tasks in the economic growth process. These are ‘value for money’ and the constant need to justify government expenditure; effective line implementation; and the ability to manage crises. If these constitute minimal essential requirements for such governments, they may provide useful criteria which small or micro-states, following capital growth models but not yet experiencing rapid economic development, can apply in assessing the capabilities of their own bureaucracies.     

中国政府与国企关系的回顾与思考

20世纪70年代末期，政企分离作为经济体制改革的一个基本目标被确立下来，如何重新安排政府和企业在市场中的各自角色，建立适应市场经济要求的新型政企关系，成为改革的焦点，总结30年政企关系改革的经验，有着十分重要的现实意义。     

Another lost decade? The future of reform in Latin America

The 1990s ended equivocally in Latin America. What has gone wrong? Is economic failure the cause or the consequence of the democratic decay and the erosion of governance throughout the region? The review essay revisits the debate on the intricate links between politics and economics in the second stage of reform. Moving beyond standard typologies of regime type, it explores the interactions between the quality of democratic governance and the performance of economic policy under democratic auspices, in particular its credibility. It is now amply recognized that reforms have been hindered by inefficient unreliable and unaccountable government institutions. Furthermore, the manner in which market reforms have been implemented has undermined governance and accountability. The importance of policy credibility has essentially been neglected as a pivotal condition for effective economic reform. Consequently, policymakers propose a new round of reforms, centring on strengthening the institutions of governance and modifying the incentives shaping public policy. The essay argues that restoring the credibility of policy requires a fundamental redefinition of the state and reforming the methods of government and the styles of policymaking. The defining challenge of Latin American countries is to strengthen capacity to adequately implement policy and credibly commit to policy reform. Copyright © 2003 John Wiley & Sons, Ltd.     

论政府在经济结构调整中的职能作用

现代市场经济条件下经济结构的调整既需要市场的调节又需要政府的干预。政府通过财政、金融等政策机制能够有效引导经济结构的优化和升级。目前,我国正处于经济转型时期,政府承担着完善市场体制和加强宏观调控的双重职能,要加快经济发展和结构调整的步伐,必须高度重视政府职能作用的发挥。     

The great transformation and progressive possibilities: the political limits of Polanyi's Marxian history of economic ideas

Abstract

Polanyi's The great transformation remains one of the stand-out texts of twentieth-century political economy, yet it contains important conceptual ambiguities. Perhaps most significantly, the later chapters reveal the influence of Polanyi's own notion of an ‘always embedded economy’, whereas the earlier chapters are constructed around a much more abstract notion of ‘economy’ derived from an essentially Marxian history of economic ideas. Marx worked within the basic Ricardian conception of economy as a method of immanent critique, but then proceeded also to project that same conception backwards onto pre-Ricardian traditions of economics. Polanyi did likewise, I argue, consequently missing the opportunity to connect his own ideas about the non-market influences on all market outcomes to pre-Ricardian studies of the substantive basis of functioning economic relations. I use the following pages to try to restore one such link, in this instance to Adam Smith's account of the moral ‘sympathy’ underpinning the process of market co-ordination. This reconstruction also has implications for progressive possibilities today. Polanyian responses to the ongoing crisis have tended to be framed by the basic Ricardian conception of economy and have accordingly been restricted to a discussion of more market or less, more social protection or less, more austerity or less. By contrast, tracing the lineage from pre-Ricardian concerns to Polanyi's notion of an always embedded economy allows the potentially much more radical question to be asked of what sort of economic relations today best serve essential human needs.     

Political party and party system institutionalization in Southeast Asia: lessons for democratic consolidation in Indonesia,the Philippines and Thailand

Abstract

This article analyses the Kim Dae-jung government's industrial realignment (‘Big Deals’) policy in post-crisis Korea, which offers a valuable insight into the state's role in managing the transition from a developmental state to a free-market economy and into the changing nature of government–business relations. Although Kim was committed to creating a free-market economy in Korea, as the ‘Big Deals’ got under way critics accused him of violating market principles and employing tactics of intervention and coercion used by previous authoritarian regimes. The ‘Big Deals’ experience suggests a further stage in the evolution of the Korean developmental state; the dismantling of state powers and the implementation of neoliberal reforms in the 1990s had led to the emergence of a ‘transformative state’ in which the state acted as ‘senior partner’ rather than ‘commander-in-chief’. The transitional state charged with the task of rebuilding the economy after 1997 regained some of its lost powers and used some familiar methods of achieving its ends. However, it also demonstrated by the nature and scope of its interventions that it was gradually evolving and adapting to meet the changing economic environment. Although Kim's actions prompted allegations from the chaebol and their conservative allies of a return to autocratic economic management by the government, it was clear that the developmental state had not been resurrected. Rather, these criticisms serve to highlight the continuing antagonism in the state–business relationship; neither side had developed new strategies for dealing with each other and their relations were still characterized by mutual mistrust and staunch chaebol resistance to key reforms demanded by the government. Although suspicions of a permanent return to extensive state intervention were unfounded, they nevertheless diminished the prospects for the creation of a cooperative relationship between the state and big business that would be a crucial factor in revitalizing the Korean economy.     

Inequality and the Dynamics of Public Opinion: The Self‐Reinforcing Link Between Economic Inequality and Mass Preferences

This article assesses the influence of income inequality on the public's policy mood. Recent work has produced divergent perspectives on the relationship between inequality, public opinion, and government redistribution. One group of scholars suggests that unequal representation of different income groups reproduces inequality as politicians respond to the preferences of the rich. Another group of scholars pays relatively little attention to distributional outcomes but shows that government is generally just as responsive to the poor as to the rich. Utilizing theoretical insights from comparative political economy and time‐series data from 1952 to 2006, supplemented with cross‐sectional analysis where appropriate, we show that economic inequality is, in fact, self‐reinforcing, but that this is fully consistent with the idea that government tends to respond equally to rich and poor in its policy enactments.     

Beyond asymmetry: cooperation,conflict and globalisation in Mexico-China relations

Abstract

Academic commentary has long emphasised the asymmetry in Mexico-China relations. In particular, much attention has focussed since the early 1990s particularly from the Mexican side on the economic imbalance in trade and investment that has become and remains acute with the expansion of the economy of the People's Republic of China. This is though far from the only sense in which the relationship between the two countries is asymmetrical. There is also a severe imbalance in the relative importance of politics and economics as determinants of this relationship for both China and Mexico. The Mexican Government seems to be more concerned with its economic relationship with China. In contrast, the PRC Government seems more concerned with its political relationship with Mexico. Moreover, there is a further asymmetry in the respective significance that each appears to have to the other as a partner. Mexico plays a small role in China's outlook but China looms large in Mexico's worldview. Identification of a number of cross-cutting asymmetrical relationships suggests that a bilateral perspective may not be the most effective for understanding the interaction or potential interaction between Mexico and China. On the contrary, there is more logic to the elements of cooperation and conflict between Mexico and China when their relationship is viewed in the wider, multilateral context of globalisation.     

The normalizing role of rationalist assumptions in the institutional embedding of neoliberalism

The political economy of Britain over the past three decades provides an interesting example of the consolidation, normalization and institutionalization of a new economic paradigm – neoliberalism. As such, it serves as a potentially instructive focus for debate both about the conditions under which economic paradigms are replaced and consolidated and the evolution of such paradigms through the process of institutionalization. In this paper I suggest that the institutionalization of this new economic paradigm has been associated with the shift from a normative to a normalized and necessitarian neoliberalism. I examine the role played by rationalist assumptions in this extended process of normalization-institutionalization. After presenting a stylized account of the evolution of British neoliberalism, I show how New Labour's monetary policy regime is the heir to the legacy of monetarism and its agenda of labour-market reform is the heir to Thatcherism's supply-side economics. I suggest that the time-inconsistency thesis and the business school globalization thesis have played an equivalent role, for New Labour, to that played for the new right by monetarism and supply-side economics in legitimating neoliberalism. In this way neoliberalism has been normalized. In the final sections of the paper I reflect on the implications of the normalized and necessitarian character of neoliberalism in Britain for its contestability and for democratic economic governance more broadly.     

Government employment and pay: the global and regional evidence

Against the background of paucity of complete and reliable data as the basis for sound policy, this article reports on the results of a major international survey of government employment and wages in about 100 countries. Key findings are that: in developing countries as a whole, relative government employment is now less than half the level of OECD countries; the reduction in the role of the state in the ‘decade of adjustment’ is striking, and so is the erosion in real government wages in the poorest countries—particularly in anglophone Africa; decentralization in Latin America is visible in the substantial shift of employment from central to subnational government levels; and the lean and well-paid civil service of East Asia is one possible reason why rapid economic growth could coexist for so long with the governance weaknesses that have surfaced in the form of the Asian crisis. The article then undertakes an aggregate cross-sectional analysis of the determinants of government employment. In Africa and Latin America, relative government employment is positively associated with per capita income and the fiscal deficit, and negatively associated with relative wages and population. Clearly, the tendency for government to expand as the economy grows—the so-called ‘Wagner law’—is still operative in developing countries. However, it seems no longer at work in OECD countries, suggesting that Wagner's law ceases to operate beyond certain per capita income level. The article concludes, nevertheless, with a reminder of the limits of cross-sectional analysis: even ‘good facts’ prove little by themselves—good analysis and policy must rest on country-specific quantitative and qualitative evidence. Copyright © 1998 John Wiley & Sons, Ltd.     

Beyond “Nonsense on stilts”: Towards conceptual clarity and resolution of conflicting economic rights

Many of the debates concerning the existence of economic rights obfuscate the meaning of the possession of a right to an economic good. In order to provide clarification, several theoretical questions must be probed. This essay explores each of these issues in order to demonstrate that greater conceptual clarity repudiates the arguments against the existence of economic rights. It also seeks to attenuate the vexing problem of necessary and painful tradeoffs between competing rights claims. The final portion of this essay heuristically demonstrates how greater conceptual clarity can aid us in dealing with complex policy issues involving competing rights claims. The phase “Nonsense on stilts” is borrowed from Jeremy Bentham’s refutation pf “Natural” rights. Jeremy Bentham, “Anarchical Fallacies” in Human Rights, ed. A.I.Melden (Belmont, CA: Wadsworth, 1970), 30–31.     

Cost–benefit analysis: New foundations on shifting sand

New Foundations of Cost–Benefit Analysis, by Matthew Adler and Eric Posner, represents the most ambitious and credible effort to date to build a solid theoretical defense of the use of cost–benefit analysis (CBA) in evaluating government regulation. In this review, three cost–benefit “skeptics” offer their reactions to this ambitious and important book. We note its virtues – its humility, its scrupulousness, its open‐mindedness. We also explore its vices. If preferences are to be “laundered,” is it intellectually defensible to remove the bad but not consider adding the good? Does Adler's and Posner's welfarism really play the limited role they suppose, or does it risk “crowding out” other important deontological and distributional values? If CBA is merely a decision procedure that provides an imperfect proxy of welfare – the moral criterion we really care about – how do we know that the proxy it provides in practice will actually be accurate enough to be useful? Isn't this at bottom an empirical question that cannot be answered by this thoroughly theoretical book? If CBA is no more than an imperfect proxy for welfare, then alternative imperfect decision procedures may perform better in the real world.     

Do government formation deadlocks really damage economic growth? Evidence from history's longest period of government formation impasse

Several countries have experienced lengthy periods of government formation deadlock in recent years, as they have sought to form a new government. This study examines whether government formation deadlocks damage a country's economy. To do so, we analyze the case of Belgium, which took a record 541 days to create a post‐election government, following the June 2010 federal elections. Employing the synthetic control method, our results show that the Belgium economy did not suffer an economic toll; on the contrary, gross domestic product per capita growth was higher than would have otherwise been expected. As such, our evidence contradicts frequent claims that long periods of government formation deadlock negatively affect an economy.     

Modernity Gone Awry: Lefort on Totalitarian and Democratic Self-representation

Abstract

This essay starts by reviewing Claude Lefort's writings on totalitarianism, a theme that runs like a red thread through his oeuvre and plays a key role in the different stages of his intellectual development. The analysis of the USSR is a central interest of Lefort and his colleagues at Socialisme ou Barbarie (and inspires them to adopt an explicitly "political" approach against the "economism" of their fellow Marxists); the problem of totalitarianism features prominently in Lefort's theory of democracy and human rights (where it functions as the "flipside" of democracy); and the theme holds Lefort's attention well after the events of 1989. The emphasis of this essay, however, is not on the chronology of Lefort's trajectory, but on the methodological role of totalitarianism in his theoretical framework. Lefort's account of totalitarianism serves him as a tool to dissect the symbolic fabric of modern society. In Arendt's view, totalitarian rule reveals something of the essence of modernity, as a movement towards ever increasing technical mastery. For Lefort, by contrast, totalitarian tendencies arise as an attempt to close off the experience of indeterminacy that has been opened up by political modernity. He shows that the totalitarian "imaginary" (which he dissects in psychoanalytic terms) presupposes yet deliberately inverts the very ideas that sparked the democratic revolution and that are central to the self-representation of democratic societies. In consequence, democracy is continuously at risk of degenerating into totalitarianism. Importantly, the totalitarian threat, which Lefort believes to be the main threat to modern society, only becomes visible by adopting a specifically "political" perspective. It is therefore of the utmost importance that we continue to under stand and to interpret our society in "political" terms, that is, in reference to the symbolic constellation of collective power.     

Japan's export of infrastructure systems: pursuing twin goals through developmental means

This article focuses on the export of infrastructure systems as Japan's foreign economic policy that is unique in terms of diplomatic goals and means. It seeks to address how and why the Japanese government has strengthened commitments to expanding infrastructure exports to major Asian countries. This article argues that the Japanese government took advantage of developmental means of state-led initiative and institutionalised government-business collaboration in sustaining the export of infrastructure systems. It also contends that the Japanese government pursued, in the infrastructure export initiative, twin goals of creating a new growth engine to revitalise the Japanese economy and strengthening strategic links with Asian countries to balance China's regional influence.