Marxism Beyond the Economy and Exploitation Beyond the Wage

Since its inception Marxism has largely operated with a narrow definition of the economy which closely resembles capitalism’s own, focusing on wage labor as the pre-eminent example of capitalist relations of labor. A century-long series of challenges from heterodox radical economists, including those based in feminism and anti-colonial theory, has yet to broaden this definition of capitalism, but the fading importance of wage labor and the advent of new forms of precarious labor relations may allow us to break the hold of restrictive ideas of the economy. A larger, more comprehensive concept of economics locates value production and material exploitation in many forms of labor in addition to waged work, and provides a theoretical platform for building solidarity among seemingly disparate movements and constituencies. Marxism can and must incorporate critiques if it is to have continuing relevance. In fact, Marx’s original understanding of capitalism included the concepts of primitive accumulation and the reproduction of labor power, allowing broader concepts of capitalist exploitation to be incorporated into the Marxist worldview. New insights into the essential nature of capitalism and new possibilities for organizing and change may emerge from this paradigm shift.     

Government Hedging: Motivation, Implementation, and Evaluation

This article examines option hedging strategies that enable politicians to manage budgetary risk. While the theoretical risk management arguments are general, the simulation analysis considers the example of oil revenue risk in Texas, and estimates the costs and benefits of an option hedging program. To evaluate government option hedging strategies, the study develops a hedge quotient measure that compares the future value of realized revenues plus net option proceeds to the future value of expected revenue. The average hedge quotient is found to be lower for the option hedging strategy than for the unhedged position, illustrating the cost of an option hedging program. Nevertheless, option hedging effectively manages extreme downside risk and stops large budget deficits from occurring. Politicians may also like option hedging because it preserves the potential of realizing budget surpluses.     

CHANGES IN CRIMINAL OFFENDING AROUND THE TIME OF JOB ENTRY: A STUDY OF EMPLOYMENT AND DESISTANCE

Does employment promote desistance from crime? Most perspectives assume that individuals who become employed are less likely to offend than those who do not. The critical issue has to do with the timing of employment transitions in the criminal trajectory. The turning point hypothesis expects reductions in offending after job entries, whereas the maturation perspective assumes desistance to have occurred ahead of successful transitions to legitimate work. Focusing on a sample of recidivist males who became employed during 2001–2006 (N = 783), smoothing spline regression techniques were used to model changes in criminal offending around the point of entry to stable employment. Consistent with the maturation perspective, the results showed that most offenders had desisted prior to the employment transition and that becoming employed was not associated with further reductions in criminal behavior. Consistent with the turning point hypothesis, we identified a subset of offenders who became employed during an active phase of the criminal career and experienced substantial reductions in criminal offending thereafter. However, this trajectory describes less than 2 percent of the sample. The patterns observed in this research suggest that transition to employment is best viewed as a consequence rather than as a cause of criminal desistance.     

UNDERSTANDING LOCAL GOVERNANCE: INSTITUTIONAL FORMS OF COLLABORATION

The article discusses institutional forms of governance, understanding governance as hybrid forms of collaboration, involving government, market actors and/or civil society actors. By utilizing data from a study made of three Norwegian cities, six collaborative efforts are presented, and discussed in relation to analytical characteristics derived from both network theory and organizational theory. This analysis illustrates that these collaboration efforts can, on the one hand, be understood as something located between networks and organizations. On the other hand, one may argue they belong to none of the two theoretical categories, implying the need for new theories regarding collaboration. These observations are followed by some theoretical reflections about how democratic governments can influence collaborations, and ensure that the common will can actually become real.     

DISTINGUISHING FACTS AND ARTIFACTS IN GROUP-BASED MODELING*

Group-based methodology (SPGM) has been presented as suitable to test for the existence of subpopulations not directly observable. Several criminological studies have used this methodology, and it is fair to say that typological theorizing has been spurred by its development. In particular, much of the empirical support for Moffitt's taxonomy (1993, 2006) is from studies using SPGM. In a small simulation experiment, I investigate whether SPGM is suitable for such tests, and I examine the extent to which similar trajectories might equally well result from mechanisms suggested by general theories. I conclude that, as it is usually applied, SPGM cannot provide evidence either for or against a taxonomy and that the usual findings can be explained by competing theories. I argue that this result is not only because of the methodology characteristics but also because of the modeling strategy applied.     

Dynamics of protest and electoral politics in the Great Recession

This article links the consequences of the Great Recession on protest and electoral politics. It innovates by combining the literature on economic voting with social movement research and by presenting the first integrated, large-scale empirical analysis of protest mobilisation and electoral outcomes in Europe. The economic voting literature offers important insights on how and under what conditions economic crises play out in the short-run. However, it tends to ignore the closely connected dynamics of opposition in the two arenas and the role of protests in politicising economic grievances. More specifically, it is argued that economic protests act as a ‘signalling mechanism’ by attributing blame to decision makers and by highlighting the political dimension of deteriorating economic conditions. Ultimately, massive protest mobilisation should, thus, amplify the impact of economic hardship on the electoral losses of incumbents and mainstream parties more generally. The empirical analysis to study this relationship relies on an original semi-automated protest event dataset combined with an updated dataset of electoral outcomes in 30 European countries from 2000 to 2015. The results indicate that the dynamics of economic protests and electoral punishment are closely related and point to a destabilisation of European party systems during the Great Recession.     

From doves to hawks: A spatial analysis of voting in the Monetary Policy Committee of the Bank of England

This article examines the making of monetary policy in the United Kingdom between 1997 and 2008 by analysing voting behaviour in the Bank of England's Monetary Policy Committee (MPC). It provides a new set of measures for the monetary policy preferences of individual MPC members by estimating a Bayesian item response model. The article demonstrates the usefulness of these measures by comparing the ideal points of outgoing MPC members with their successors and by looking at changes over time in the median ideal point on the MPC. The analysis indicates that the British Government has been able to move the position of the median voter on the MPC through its appointments to the Committee. This highlights the importance of central bank appointments for monetary policy.     

Theories of coalition formation: An empirical test using data from Danish local government

Abstract.  Theories of coalition formation represent a diverse set of arguments about why some government coalitions form while others do not. In this article, the authors present a systematic empirical test of the relative importance of the various arguments. The test is designed to avoid a circularity problem present in many coalition studies – namely that the theories are tested on data of national government coalitions in postwar Europe: the very data that gave rise to the theories in the first place. Instead, the authors focus on government coalitions at the municipal level. They base their analysis on an expert survey of almost 3,000 local councillors from all municipalities in Denmark. They use conditional logit analysis to model government formation as a discrete choice between all potential governments. The analysis confirms some, but far from all, traditional explanations such as those based on office and policy motives. At the same time, the analysis raises the question of whether actors really seek minimal coalitions.