Daniel Little
Consider some of the most intractable problems we face in contemporary society: rising inequalities between rich and poor, rapid degradation of the environment, loss of control of their lives by the majority of citizens. It might be observed that these problems are the result of a classic conundrum that Marx identified 150 years ago: the …
Continue reading "Worker-owned enterprises as a social solution"
An earlier post considered Dave Elder-Vass’s very interesting treatment of the contemporary digital economy. In Profit and Gift in the Digital Economy Elder-Vass argues that the vast economic significance of companies like Google, FaceBook, and Amazon in today's economy is difficult to assimilate within the conceptual framework of Marx’s foundational ideas about capitalism, constructed as they were around …
Image: O. Beauchesnes, "Map of the Geographical Structure of Wikipedia Links" (link) A key part of understanding society is making sense of the "economy" in which we live. But what is an economy? Existing economic theories attempt to answer this question with simple unified theories. The economy is a profit-driven market system of firms, workers, …
Continue reading "Capitalism as a heterogeneous set of practices"
Capitalism is one particular configuration of the economic institutions that define production and consumption in a society. It involves private ownership of firms and resources, and a system of wage labor through which individuals compete for jobs within the context of a labor market. In its nature it creates positions of substantial power for owners …
source: Kathleen Thelen, Varieties of Liberalization (kl 3310) There is a version of economic historical thinking that we might label as "capitalist triumphalism" -- the idea that the institutions of a capitalist economy drive out all other economic forms, and that they tend towards an ever-more pure form of unconstrained market society. "Liberalization," deregulation, and …
Continue reading "Thelen on the prospects for egalitarian capitalism"
Karl Polanyi is underrated as a theorist of capitalist modernity. Margaret Somers and Fred Block's latest book, The Power of Market Fundamentalism: Karl Polanyi's Critique aims to correct this failure and to work out in some detail the analysis and critique that Polanyi provided between the wars. The book is an important contribution to the …
Continue reading "Polanyi’s substantive theory of a decent society"
One place where Jon Elster's philosophical thinking intersects with empirical social science is in the field of institutional design. This involves an important question: What features of institutional design can be identified as having beneficent features of operation when exercised by normal groups of individuals? This topic has cropped up several times in Elster's career. …
Continue reading "Institutional designs for progressive reform"
At various points since the death of Karl Marx in 1883 his work has been regarded as a dead issue -- no longer relevant, too ideological, methodologically flawed, too rooted in the nineteenth century. And yet each of these periods of extinction has been followed by a resurgence of interest in Marx's ideas, as new …
I recently spent a half day visiting Detroit with some very perceptive university colleagues. We visited the university's center on Woodward Avenue, the Riverfront Conservancy, and the Madison Building -- all places where exciting signs of change are underway. Along the way we heard a lot of enthusiasm about the progress Detroit is making: more …
Professor Luciano Segreto lectured in Michigan this week on the subject of a comparison between US and European capitalisms. Segreto is professor of International Economic History, Financial History, and the History of Regional Economic Development at the University of Florence. His lecture was fascinating in many ways, but of special interest here is whether there …
Understanding Society 