Book Review

Andrea Dworkin. Heartbreak: The Political Memoir of a Feminist Militant. New York: Basic Books, 2002.     

Exile,Choice, and Loyalism: Taking and Restoring Dignity in the American Revolution

Taking a cue from Bernadette Atuahene's concept of “dignity takings” and her insight that government expropriation inflicts more than economic injury, this essay analyzes how American revolutionaries defined political membership, penalized and expropriated British loyalists, and then allowed some to join the American polity in the decade after the Revolution. Many recovered their property, professions, and legal privileges. However, because most loyalists could choose to remain loyal or join the Revolution, they did not lose human dignity as Atuahene defines it. Case studies of two reintegrating lawyers, Richard Harison and William Rawle, explore loyalism, the loss of dignities that loyalists suffered, and some paths toward reintegration. Their appointment as federal attorneys helped make the government conversant in the common law, British statutes, and the law of nations, which in turn supported the Federalist goal of reintegrating the United States into the Atlantic World: achieving, in other words, national dignity.     

Der Europ?ische Gerichtshof als Motor der Integration: Eine akteursbezogene Erkl?rung

For nearly five decades, the European Court of Justice (ECJ) has developed a decisively pro-European case law and has become the ??engine of integration??. Institutional explanations shed light on the Court??s room for manoevre. They have to be complemented by actor-centered explanations that shed light on the judges?? motives of action. The explanation offered by the following paper is unfolded in two steps. In the first one, the article describes idiosyncrasies of the European law discourse that already shaped the judges before they were appointed. The analysis of the idiosyncrasies corresponds to a scepticism towards the idea of national sovereignty, a belief in the necessity of creative and idealist, law-augmenting judges and a dominance of output-oriented legitimization strategies. In a second step, the article shows that in the sociological sense the ECJ judges constitute a group. While the individual judges share an understanding of the aims and functions of European law, the group develops its own identity and grants status to those who perform successful actions with respect to the common integration agenda. This explanation is more realistic than ??rational choice?? explanations which point to the direct and personal benefits that judges derive from their pro-European case law.     

South Africa: capital accumulation and violence

This article analyses the conditions of capital accumulation in South Africa, and seeks to explain the authoritarian and racially discriminatory features of the South African social structure in terms of (a) the specific historical processes of change (mercantile colonial conquest, primitive accumulation in mining and farming) and (b) the specific features of contemporary capitalism, notably the capital-intensive structure of industry. The authoritarianism embodied, for example, in the extra-economic coercion of black labour is seen as reflecting the circumstances of the struggle between capital and labour under conditions where capital-labour contradictions exist alongside the contradiction between South African capitalism and the ‘dependent’ societies it has preserved/recreated. The implications of this situation for strategies of socialist change are briefly evaluated.     

Affordability and mortgage design: Permanent buydowns and buyups

Abstract

A simulation model that mirrors the actual practices of lenders in setting qualification requirements for mortgage loans is used to assess the impact of permanent buydowns and buyups on the maximum sale price that buyers can afford. Buydowns are reductions in the coupon rate traded off against higher discount points; buyups are the reverse. Although buydowns have little effect on afford ability, buyups can have significant effects. Their potential is largely unrealized, however, because of the call risk to lenders of loans carrying premiums. The authors propose a “discount recovery” provision, which would be similar to a prepayment penalty except that the payment upon prepayment would be tied to the amount of the discount foregone by the lender. This would protect lenders against call risk, giving them every reason to offer buyups as a way of expanding demand.