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The history of policymaking has been dominated by two rival
assumptions about markets. Those who have advocated Keynesian-type
policies have generally based their arguments on the claim that
markets are imperfectly competitive. On the other hand laissez
faire advocates have argued the opposite by claiming that in fact
free market policies will eliminate "market imperfections" and
reinvigorate perfect competition. The goal of this book is to enter
into this important debate by raising critical questions about the
nature of market competition in both the neoclassical and Kaleckian
traditions By drawing on the insights of the classical political
economists, Schumpeter, Hayek, the Oxford Economists' Research
Group (OERG) and others, the authors in this book challenge this
perfect versus imperfect competition dichotomy in both theoretical
and empirical terms. There are important differences between the
theoretical perspectives of several authors in the broad
alternative theoretical tradition defined by this book;
nevertheless, a unifying theme throughout this volume is that
competition is conceptualized as a dynamic disequilibrium process
rather than the static equilibrium state of conventional theory.
For many of the authors the growth of the firm is consistent with a
heightened degree of competitiveness, as the classical economists
and Schumpeter emphasized, and not a lowered one as in the
conventional 'monopoly capital' and imperfect competition
perspectives. Contributions by Rania Antonopoulos, Serdal Bahce,
Cyrus Bina, Scott Carter, Benan Eres, Jason Hecht, Jack High,
William Lazonick, Andreis Lazzarini, Fred S. Lee, J. Stanley
Metcalfe, Jamee Moudud, John Sarich, Anwar Shaikh, Persefoni
Tsaliki, Lefteris Tsoulfidis, and John Weeks.
This book explores America's decline as a global power, arguing
that the implosion of Pax Americana was initiated by the process of
globalization, preceding the collapse of the Soviet Union by nearly
a decade. The era of Pax Americana, and with it American hegemony,
is conclusively passed, and will not return in current global
conditions. There is a stark contrast between the present epoch and
the postwar era of American hegemony (1945-1979) in which the
United States, at least outside of the Soviet sphere of influence,
largely managed the international economy and reigned over
international politics and relations. Drawing on both theoretical
and empirical evidence, this book shows that the era of
globalization unleashed forces-social, political, and
economic-which broke down the status quo of American hegemony.
Author Cyrus Bina also establishes that since the Iranian
Revolution (1979), US involvement throughout the Middle East, in
Iraq, Afghanistan, Libya, Syria, Yemen, and now notably in Ukraine
has been motivated by the freefall of American hegemony and an
attempt to get it back by direct or indirect military force. Bina
utilizes these contexts for wider analysis and critique of a number
of theories commonly used to analyze economy, polity, geopolitical,
and dynamics of crisis and social change in capitalism. This book
will be of great interest to students, academics, and policymakers
on subjects of Economics, International Relations, Global Studies,
International Political Economy, Political Geography, Sociology,
and postwar History.
This text uses an innovative approach to the dynamics of labour's
decline and proposes policy initiatives necessary for its
revitalization. The book emphasises the need for restructuring of
capitalism on a global scale and challenges traditional economic
and industrial relations wisdom.
This text uses an innovative approach to the dynamics of labour's
decline and proposes policy initiatives necessary for its
revitalization. The book emphasises the need for restructuring of
capitalism on a global scale and challenges traditional economic
and industrial relations wisdom.
Beginning with an historical perspective, the text moves to examine
dimensions of "Islamic Revolution" and ideology, oil, economic
crisis and Islamic banking, and post-war political and
infrastructural reconstruction in Iran.
The history of policymaking has been dominated by two rival
assumptions about markets. Those who have advocated Keynesian-type
policies have generally based their arguments on the claim that
markets are imperfectly competitive. On the other hand laissez
faire advocates have argued the opposite by claiming that in fact
free market policies will eliminate "market imperfections" and
reinvigorate perfect competition. The goal of this book is to enter
into this important debate by raising critical questions about the
nature of market competition in both the neoclassical and Kaleckian
traditions By drawing on the insights of the classical political
economists, Schumpeter, Hayek, the Oxford Economists' Research
Group (OERG) and others, the authors in this book challenge this
perfect versus imperfect competition dichotomy in both theoretical
and empirical terms. There are important differences between the
theoretical perspectives of several authors in the broad
alternative theoretical tradition defined by this book;
nevertheless, a unifying theme throughout this volume is that
competition is conceptualized as a dynamic disequilibrium process
rather than the static equilibrium state of conventional theory.
For many of the authors the growth of the firm is consistent with a
heightened degree of competitiveness, as the classical economists
and Schumpeter emphasized, and not a lowered one as in the
conventional 'monopoly capital' and imperfect competition
perspectives. Contributions by Rania Antonopoulos, Serdal Bahce,
Cyrus Bina, Scott Carter, Benan Eres, Jason Hecht, Jack High,
William Lazonick, Andreis Lazzarini, Fred S. Lee, J. Stanley
Metcalfe, Jamee Moudud, John Sarich, Anwar Shaikh, Persefoni
Tsaliki, Lefteris Tsoulfidis, and John Weeks.
This book offers a timely analysis of work and labor processes and
how they are rapidly changing under globalization. The contributors
explore traditional sectors of the U.S. and world economies - from
auto to steel to agriculture - as well as work under new production
arrangements, such as third world export processing zones. Many
chapters analyze changing dynamics of gender, nationality, and
class. The contributors explain why more intensified forms of
control by the state and by capital interests are emerging under
globalization. Yet they also emphasize new possibilities for labor,
including new forms of organizing and power sharing in a rapidly
changing economy.
This book offers a timely analysis of work and labor processes and
how they are rapidly changing under globalization. The contributors
explore traditional sectors of the U.S. and world economies - from
auto to steel to agriculture - as well as work under new production
arrangements, such as third world export processing zones. Many
chapters analyze changing dynamics of gender, nationality, and
class. The contributors explain why more intensified forms of
control by the state and by capital interests are emerging under
globalization. Yet they also emphasize new possibilities for labor,
including new forms of organizing and power sharing in a rapidly
changing economy.
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