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The Future of Capitalism After the Financial Crisis: The Varieties of Capitalism Debate in the Age of Austerity PDF

256 Pages·2015·3.1 MB·English
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The Future of Capitalism After the Financial Crisis The Future of Capitalism After the Financial Crisis: The Varieties of Capital- ism Debate in the Age of Austerity contains thirteen world leading political economistswritingfromwithineightdifferentcountrieswhocriticallyanalyze the current crisis tendencies of capitalism both globally and in particular countries. Given the likelihood of an increasingly crisis prone future for capitalism, it is important not only to rethink capitalism in its current mani- festations or varieties, it is also important to rethink research methods and conceptual frameworks in preparation for understanding an increasingly rocky future in which capitalism itself could go the way of the many species that in the past were endangered only to become extinct. More and more titles of books and articles are suggesting that capitalism or perhaps civilization itself is endangered if we do not make radical changes in the near future. This book breaks with academic path dependency and attempts to open new vistas of political economy and of multidisciplinary analysisthat are crucially important ifourthoughtprocessesare tobe effective for aworld in jeopardy. Thevarietiesofcapitalism(VoC)debateitselfcameintobeingastheSoviet Union unraveled. It drew in scholarship from a cross-section of Marxian and heterodox political economy. The key argument of VoC was that if capitalism was the onlyglobal option then those on the Left must get involved in policy discussions on how capitalist economies can be fashioned to become compe- titive as well as progressive. However, the financial crisis has seen policy across the advanced economies veer toward competitiveness coupled with austerity. The lesson for the Left is that alternatives to capitalism must be sought in the here and now. Richard Westra is Designated Professor, Graduate School of Law, Nagoya University, Japan. DennisBadeenisInstructor,BusinessAdministration,TrentUniversity,Canada. Robert Albritton is Professor Emeritus, Department of Political Science, York University, Canada. Routledge Frontiers of Political Economy 1. Equilibrium Versus 7. Markets, Unemployment and Understanding Economic Policy Towards the rehumanization Essays in honour of Geoff of economics within Harcourt, volume two social theory Edited by Philip Arestis, Mark Addleson Gabriel Palma and Malcolm Sawyer 2. Evolution, Order and Complexity 8. Social Economy Edited by Elias L. Khalil and The logic of Kenneth E. Boulding capitalist development Clark Everling 3. Interactions in Political Economy 9. New Keynesian Economics/ Malvern after tenyears Post Keynesian Alternatives Edited by Steven Pressman Edited by Roy J. Rotheim 4. The End of Economics 10. The Representative Agent Michael Perelman in Macroeconomics James E. Hartley 5. Probability in Economics Omar F. Hamouda and 11. Borderlands of Economics Robin Rowley Essays in honour of Daniel R. Fusfeld 6. Capital Controversy, Post Edited by Nahid Aslanbeigui Keynesian Economics and the and Young Back Choi History of Economics Essays in honour of Geoff 12. Value, Distribution and Capital Harcourt, volume one Essays in honour of Edited by Philip Arestis, Pierangelo Garegnani Gabriel Palma and Edited by Gary Mongiovi and Malcolm Sawyer Fabio Petri 13. The Economics of Science 20. The Active Consumer Methodology and Novelty and surprise in epistemology as if economics consumer choice really mattered Edited by Marina Bianchi James R. Wible 21. Subjectivism and 14. Competitiveness, Localised Economic Analysis Learning and Essays in memory of Regional Development Ludwig Lachmann Specialisation and Edited by Roger Koppl and prosperity in small Gary Mongiovi open economies Peter Maskell, Heikki 22. Themes in Eskelinen, Ingjaldur Post-Keynesian Economics Hannibalsson, Anders Essays in honour of Geoff Malmberg and Eirik Vatne Harcourt, volume three Edited by Claudio Sardoni and 15. Labour Market Theory Peter Kriesler A constructive reassessment Ben J. Fine 23. The Dynamics of Technological Knowledge 16. Women and Cristiano Antonelli European Employment Jill Rubery, Mark Smith, 24. The Political Economy of Diet, Colette Fagan and Health and Food Policy Damian Grimshaw Ben J. Fine 17. Explorations in 25. The End of Finance Economic Methodology Capital market inflation, From Lakatos to financial derivatives and empirical philosophy pension fund capitalism of science Jan Toporowski Roger Backhouse 26. Political Economy and the 18. Subjectivity in New Capitalism Political Economy Edited by Jan Toporowski Essays on wanting and choosing 27. Growth Theory David P. Levine A philosophical perspective Patricia Northover 19. The Political Economy of Middle East Peace 28. The Political Economy of the The impact of competing Small Firm trade agendas Charles Dannreuther and Edited by J.W. Wright, Jnr Lew Perren 29. Hahn and Economic 38. Money, Macroeconomics Methodology and Keynes Edited by Thomas Boylan and Essays in honour of Victoria Paschal F O’Gorman Chick, volume I Philip Arestis, Meghnad Desai 30. Gender, Growth and Trade and Sheila Dow The miracle economies of the postwar years 39. Methodology, Microeconomics David Kucera and Keynes Essays in honour of Victoria 31. Normative Political Economy Chick, volume II Subjectivefreedom,themarket Philip Arestis, Meghnad Desai and the state and Sheila Dow David Levine 40. Market Drive and Governance 32. Economist with a Reexamining the rules for Public Purpose economic and Essays in honour of John commercial contest Kenneth Galbraith Ralf Boscheck Edited by Michael Keaney 41. The Value of Marx 33. Involuntary Unemployment Political economy for The elusive quest for a theory contemporary capitalism Michel De Vroey Alfredo Saad-Filho 34. The Fundamental Institutions 42. Issues in Positive of Capitalism Political Economy Ernesto Screpanti S. Mansoob Murshed 35. Transcending Transaction 43. The Enigma of Globalisation The search for A journey to a new stage self-generating markets of capitalism Alan Shipman Robert Went 36. Power in Business and 44. The Market the State Equilibrium, stability, An historical analysis of mythology its concentration S.N. Afriat Frank Bealey 45. The Political Economy of Rule 37. Editing Economics Evasion and Policy Reform Essays in honour of Jim Leitzel Mark Perlman Hank Lim, Ungsuh K. Park 46. UnpaidWorkandtheEconomy and Geoff Harcourt Edited by Antonella Picchio 47. Distributional Justice 56. Affirmative Action in the Theory and measurement United States and India Hilde Bojer A comparative perspective Thomas E. Weisskopf 48. Cognitive Developments in Economics 57. Global Political Economy and Edited by Salvatore Rizzello the Wealth of Nations Performance, institutions, 49. Social Foundations of problems and policies Markets, Money Edited by Phillip Anthony and Credit O’Hara Costas Lapavitsas 58. Structural Economics 50. Rethinking Capitalist Thijs ten Raa Development Essays on the economics of 59. Macroeconomic Theory and Josef Steindl Economic Policy Edited by Tracy Mott and Essays in honour of Nina Shapiro Jean-Paul Fitoussi Edited by K. Vela Velupillai 51. An Evolutionary Approach to Social Welfare 60. The Struggle Over Work Christian Sartorius The “end of work” and employment alternatives in 52. Kalecki’s Economics Today post-industrial societies Edited by Zdzislaw L. Shaun Wilson Sadowski and Adam Szeworski 61. The Political Economy of 53. Fiscal Policy from Reagan Global Sporting Organisations to Blair John Forster and Nigel Pope The left veers right Ravi K. Roy and 62. The Flawed Foundations Arthur T. Denzau of General Equilibrium Theory 54. The Cognitive Critical essays on Mechanics of Economic economic theory Development and Frank Ackerman and Institutional Change Alejandro Nadal Bertin Martens 63. Uncertainty in 55. Individualism and the Economic Theory Social Order Essays in honour of The social element in David Schmeidler’s liberal thought 65th birthday Charles R. McCann Jnr. Edited by Itzhak Gilboa 64. The New Institutional 74. GrowthandDevelopmentinthe Economics of Corruption Global Political Economy Edited by Johann Graf Social structures of Lambsdorff, Markus Taube accumulation and modes and Matthias Schramm of regulation Phillip Anthony O’Hara 65. The Price Index and its Extension 75. The New Economy and A chapter in economic Macroeconomic Stability measurement A neo-modern perspective S.N. Afriat drawing on the complexity approach and 66. Reduction, Rationality and Keynesian economics Game Theory in Teodoro Dario Togati Marxian Economics Bruce Philp 76. The Future of Social Security Policy 67. Culture and Politics in Women, work and a citizens Economic Development basic income Volker Bornschier Ailsa McKay 68. Modern Applications of 77. Clinton and Blair Austrian Thought The political economyof the Edited by Jürgen G. Backhaus Third Way Flavio Romano 69. Ordinary Choices Individuals, 78. Marxian Reproduction incommensurability, and Schema democracy Money and aggregate Robert Urquhart demand in a capitalist economy 70. Labour Theory of Value A.B. Trigg Peter C. Dooley 79. The Core Theory 71. Capitalism in Economics Victor D. Lippit Problems and solutions Lester G. Telser 72. Macroeconomic Foundations of Macroeconomics 80. Economics, Ethics and Alvaro Cencini the Market Introduction and 73. Marx for the 21st Century applications Edited by Hiroshi Uchida Johan J. Graafland 81. Social Costs and Public Action 89. Hayek and Natural Law in Modern Capitalism Erik Angner Essays inspired by Karl William Kapp’s Theoryof 90. RaceandEconomicOpportunity Social Costs intheTwenty-FirstCentury Edited by Wolfram Elsner, Edited by Marlene Kim Pietro Frigato and Paolo Ramazzotti 91. Renaissance in Behavioural Economics 82. Globalization and the Myths of Harvey Leibenstein’s impact Free Trade on contemporary History, theory and economic analysis empirical evidence Edited by Roger Frantz Edited by Anwar Shaikh 92. Human Ecology Economics 83. Equilibrium in Economics: A new framework for Scope and Limits global sustainability Edited by Valeria Mosini Edited by Roy E. Allen 84. Globalization 93. Imagining Economics State of the art Otherwise and perspectives Encounterswith Edited by Stefan A. Schirm identity/difference Nitasha Kaul 85. Neoliberalism National and regional 94. Reigniting the Labor Movement experiments with global ideas Restoring means to ends in a Edited by Ravi K. Roy, democratic labor movement Arthur T. Denzau and Gerald Friedman Thomas D. Willett 95. The Spatial Model of Politics 86. Post-Keynesian Norman Schofield Macroeconomics Economics EssaysinhonourofIngridRima 96. The Economics of Edited by Mathew Forstater, American Judaism Gary Mongiovi and Carmel Ullman Chiswick Steven Pressman 97. Critical Political Economy 87. Consumer Capitalism Christian Arnsperger Anastasios S. Korkotsides 98. Culture and 88. Remapping Gender in the New Economic Explanation Global Order Economics in the US Edited Marjorie Griffin Cohen and Japan and Janine Brodie Donald W. Katzner 99. Feminism, Economics 108. The ‘Uncertain’ Foundations of and Utopia Post-Keynesian Economics Time travelling Essays in exploration through paradigms Stephen P. Dunn Karin Schönpflug 109. Karl Marx’s Grundrisse 100. Risk in International Finance Foundations of the critique of Vikash Yadav political economy 150 years later 101. Economic Policy and Edited by Marcello Musto Performance in 110. Economics and the Price Index Industrial Democracies S.N. Afriat and Carlo Milana Partygovernments, central banks and the fiscal-monetary 111. Sublime Economy policy mix On the intersection of art Takayuki Sakamoto and economics Edited by Jack Amariglio, 102. Advances on Income Inequality Joseph W. Childers and and Concentration Measures Stephen E. Cullenberg Edited by Gianni Betti and Achille Lemmi 112. Popper, Hayek and the Open Society 103. Economic Representations Calvin Hayes Academic and everyday Edited by David F. Ruccio 113. The Political Economy of Work 104. Mathematical Economics and David Spencer the Dynamics of Capitalism Goodwin’s legacy continued 114. Institutional Economics Edited by Peter Flaschel and Bernard Chavance Michael Landesmann 115. Religion, Economics 105. The Keynesian Multiplier and Demography Edited by Claude Gnos and Theeffectsofreligionon Louis-Philippe Rochon education,work,andthefamily Evelyn L. Lehrer 106. Money, Enterprise and Income Distribution 116. Economics, Rational Choice Towards a macroeconomic and Normative Philosophy theoryof capitalism Edited by Thomas A. Boylan John Smithin and Ruvin Gekker 107. Fiscal Decentralization and 117. Economics Versus Local Public Finance in Japan Human Rights Nobuki Mochida Manuel Couret Branco 118. Hayek Versus Marx and 128. Rationality and Explanation Today’s Challenges in Economics Eric Aarons Maurice Lagueux 119. Work Time Regulation as 129. The Market, Happiness Sustainable Full and Solidarity Employment Policy AChristian perspective Robert LaJeunesse Johan J. Graafland 120. Equilibrium, Welfare 130. Economic Complexity and and Uncertainty Equilibrium Illusion Mukul Majumdar Essays on market instability and 121. Capitalism, Institutions and macro vitality Economic Development Ping Chen Michael Heller 131. Economic Theory and 122. Economic Pluralism Social Change RobertGarnett, Erik Olsen and Problems and revisions Martha Starr Hasse Ekstedt and Angelo Fusari 123. Dialectics of Class Struggle in the Global Economy 132. The Practices of Happiness Clark Everling Political economy, religion andwellbeing 124. Political Economy Edited by John Atherton, and Globalization Elaine Graham and Richard Westra Ian Steedman 125. Full-Spectrum Economics 133. The Measurement of Toward an inclusive and Individual Well-Being and emancipatory social science Group Inequalities Christian Arnsperger Essays in memory of Z.M. Berrebi 126. Computable, Constructive and Edited by Joseph Deutsch and BehaviouralEconomicDynamics Jacques Silber Essays in honour of Kumaraswamy 134. Wage Policy, Income (Vela) Velupillai Distribution, and Stefano Zambelli Democratic Theory Oren M. Levin-Waldman 127. Monetary Macrodynamics Toichiro Asada, Carl 135. The Political Economy Chiarella, Peter Flaschel and of Bureaucracy Reiner Franke Steven O. Richardson

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