Revolution,power and the Third World: a review of Michael Mann’s The Sources of Social Power,Volume 4

The fourth volume of Michael Mann’s The Sources of Social Power is the last in his historical sociological series, which has centred on an analysis of ideological, economic, military and political power in human societies from the start of civilisation. Mann’s final volume provides an important overview of the period of American hegemony and its worldwide effects, the rise and crisis of neoliberalism, the contrasting fates of the USSR and Maoist China, the vagaries of American empire, and modern revolutions. The implications of his study, particularly regarding the history and theory of revolutions, are of the utmost value to anyone on the Revolutionary Left today, especially in the Third World. While Mann’s study is primarily focused on the West, it provides important lessons to be drawn for the Third World.     

Toward “hardened” accountability? Analyzing the European Union's hybrid transnational governance in timber and biofuel supply chains

The voluntary/mandatory divide is a constant feature of scholarly debates on corporate accountability for sustainability in global supply chains. A widely held assumption is that the addition of state authority to private transnational governance in global supply chains will “harden” accountability and, thus, promote more sustainable production. The state's ability to set legally binding requirements is expected to coerce companies into complying. The hybridization of private and state authority is seen to strengthen good practice in private authority. This empirical study questions these assumptions based on an analysis of two hybrid governance arrangements for sustainability in global supply chains: the EU's Timber Regulation (EUTR) and Renewable Energy Directive (RED). The results demonstrate that both EUTR and EU-RED yield sector wide efforts of compliance and to this extent can be seen as enhancing accountability in the sense of answerability. At the same time, we find that the policies in both cases are not more demanding, nor enforced strictly, the latter putting into question their potential to coerce companies. Further, a “hardening” of accountability is at least obscured as both EUTR and EU-RED have stripped private authority they employ in their hybrid transnational governance from the need to establish legitimacy with a broader audience. This makes legal compliance and cost-effectiveness the core factor for companies’ efforts to demonstrate compliance. Our findings hence question whether the EUTR and EU-RED have led to “hardened” accountability compared to private transnational governance, and ask for an empirical, more nuanced understanding of what there is to gain or lose from hybridizing private and state authority in transnational governance.     

The Postcolonial World and the Recourse to Myth: a critique of Albert Memmi’s Decolonization and the Decolonized

The seminal postcolonial thinker Albert Memmi’s reactionary turn with the publishing of Decolonization and the Decolonized provides an excellent opportunity to properly contextualise the conditions of the Third World. In this article, emphasis is laid on the necessity of linking the postcolonial world’s dire condition to the role of Western powers and economic processes of globalisation. Memmi’s primary shortcoming is his failure to examine these connections with any nuance, and instead choosing to blame the Third World’s condition on corrupt leaders and governments. Consequently, a focused critique of his work can serve as a valuable foundation for a broader critique of the general patterns of capitalism and its global effects. By examining the inconsistencies and obfuscations of this work in detail, both Memmi and the ideas he professes can be appropriately confronted.     

The role of ECB communication in guiding markets

Public Choice - Economists and central bankers nowadays believe that forward guidance has become more important in a world in which key interest rates have hit their effective lower bounds (ELB)....     

From voluntary to mandatory corporate accountability: The politics of the German Supply Chain Due Diligence Act

Following a long-standing and highly contested policy debate, in June 2021, the German parliament passed the Supply Chain Due Diligence Act requiring mandatory due diligence (MDD) of large companies, holding them accountable for the impacts of their supply chain operations abroad. Applying the discursive agency approach and using evidence from policy documents and 21 interviews with key stakeholders, we analyze the political strategies that paved the way toward MDD in Germany. The decisive strategy was an innovative benchmarking and monitoring mechanism that provided the legitimacy for a law and opened a window of opportunity for MDD supporters. Civil society and supportive politicians used this window of opportunity to build broad political coalitions that included the support of some companies. We discuss the ramifications of these findings for understanding the domestic politics behind the newly emerging norm of foreign corporate accountability.