“Expropriation of Capitalist by State Capitalist:” Organizational Change and the Centralization of Capital as State Property

IF 7.2 1区 经济学 Q1 ECONOMICS
Ilias Alami, Adam D. Dixon
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引用次数: 11

Abstract

Abstract State enterprises, sovereign funds, and other state–capital hybrids have become major engines of global capitalism. How can we explain their global rise and organizational transformation into increasingly sophisticated and globally competitive forms? Why do they increasingly emulate the practices and organizational goals of comparable private-sector entities, adopt the techniques of modern finance, resort to mixed ownership, and extend their operations across geographic space? After critically engaging with arguments that emphasize the role of firm strategies, developmentalist logics, financialized norms, and Polanyian double movements, we develop an explanatory model of organizational change grounded in historic–geographic materialism and economic geographies of the firm. We locate the expansion of state ownership (the role of states as owners) in the historic development and geographic remaking of global capitalism and, in particular, the emergence of a new constellation of international divisions of labor. This created the conditions for a massive round of centralization of capital as state property (the mass of capital controlled by states) since the early 2000s. The modern, marketized, globally spread state–capital hybrid emerged as an organizational fix to mediate the geographic contradictions and imperatives associated with this process. Purposive organizational adaption consisted in developing new skills, operational capabilities, and mixed-ownership structures in order to leverage the financial system, allow for the development of liquid forms of state property, and facilitate the expansion of the latter into global circuits of capital. As such, the article contributes to debates on the role of the state in global value chains, the firm-state nexus, and state capitalism.
“国家资本家对资本家的侵占”:组织变革与资本作为国家财产的集中化
摘要国有企业、主权基金和其他国有资本混合体已成为全球资本主义的主要引擎。我们如何解释他们的全球崛起和组织转型为日益复杂和具有全球竞争力的形式?为什么他们越来越多地效仿类似私营部门实体的做法和组织目标,采用现代金融技术,采用混合所有制,并将其业务扩展到地理空间?在批判性地参与了强调企业战略、发展主义逻辑、金融化规范和波兰尼双重运动作用的论点之后,我们建立了一个基于企业历史地理唯物主义和经济地理的组织变革解释模型。我们将国家所有权的扩张(国家作为所有者的角色)定位于全球资本主义的历史发展和地理重塑,特别是新的国际分工的出现。这为自21世纪初以来资本作为国家财产(由国家控制的大量资本)的大规模集中创造了条件。现代、市场化、全球分布的国家资本混合体作为一种组织固定机制出现,以调解与这一过程相关的地理矛盾和必要性。有目的的组织适应包括发展新技能、运营能力和混合所有制结构,以利用金融系统,允许发展流动形式的国有资产,并促进后者向全球资本循环的扩张。因此,这篇文章为关于国家在全球价值链中的作用、企业与国家的关系和国家资本主义的辩论做出了贡献。
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来源期刊
Economic Geography
Economic Geography Multiple-
CiteScore
9.70
自引率
2.90%
发文量
0
期刊介绍: Economic Geography is a peer-reviewed journal dedicated to publishing original research that advances the field of economic geography. Their goal is to publish high-quality studies that are both theoretically robust and grounded in empirical evidence, contributing to our understanding of the geographic factors and consequences of economic processes. It welcome submissions on a wide range of topics that provide primary evidence for significant theoretical interventions, offering key insights into important economic, social, development, and environmental issues. To ensure the highest quality publications, all submissions undergo a rigorous peer-review process with at least three external referees and an editor. Economic Geography has been owned by Clark University since 1925 and plays a central role in supporting the global activities of the field, providing publications and other forms of scholarly support. The journal is published five times a year in January, March, June, August, and November.
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