{"title":"A Plebeian Lexicon of Capitalism (and Socialism)","authors":"Larry Wigger","doi":"10.38024/arpe.230","DOIUrl":"https://doi.org/10.38024/arpe.230","url":null,"abstract":"It is by no means exaggeration to suggest that society finds itself increasingly ill equipped in the art of civil discourse. In particular, the realm of political debate has polarized at partisan extremes, arguably fueled by gross economic inequality. And as is typical when advocates’ hearts are aflame, logic can give way to passion, whether for lack of empathy or failures in communication. With skirmish lines firmly drawn seeming eons ago, the opposing forces calcify in their trenches, rarely daring set foot on the field of battle, choosing instead to lob poorly calculated mortars at their “enemy,” not in honest attempt to “win” the war, but merely hoping to quiet the shells raining down, even if but temporarily. Before we can broker peace, it is crucial we mend the broken lines of communication, starting with the most basic building blocks of language. Of late, our (un)civil discourse has been rife with talking at each other and past each other, without pause to consider the foundational definitions of the words we lob. We have weaponized our very means of intellectual connection, to the point that what remains is a toxic stew of defensive reactions. Into this fray author beckons reader, with lofty goals of both deconstructing and then intentionally framing a lay person’s lexicon with useful definitions for capitalism, capitalist, and capital, each considered as relative to socialism.","PeriodicalId":252052,"journal":{"name":"American Review of Political Economy","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131523199","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Employer of Last Resort as a new ‘New Deal’: A few thoughts on Turkey","authors":"Ilker Aslan","doi":"10.38024/arpe.235","DOIUrl":"https://doi.org/10.38024/arpe.235","url":null,"abstract":"Modern Monetary Theory emerges as a plausible alternative to solve Turkey’s staggering unemployment problem. This proposed solution here is the introduction of job guarantee program, which produces a non-discretionary automatic stabilizer that fosters both price stability and full employment. As a monetary sovereign, Turkey has the capacity to use deficit spending to bring growth and provide full employment to the millions who are in involuntary unemployment. The goal here is to tame the business cycles without throwing millions into unemployment, which has social and economic ramifications. In the absence of job creation by the private sector, this can be achieved through the use of government, providing job guarantees and the state acting as an employer of last resort by creating public projects, which will be cyclically adjusted in order to achieve full employment. ","PeriodicalId":252052,"journal":{"name":"American Review of Political Economy","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127274247","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Is zero the safe real rate?","authors":"A. Mix","doi":"10.38024/arpe.217","DOIUrl":"https://doi.org/10.38024/arpe.217","url":null,"abstract":"The current economic debate with regards to the secular trend of ever lower, even negative, safe real interest rates is dominated by Keynesian, neoclassical and Austrian explanations. The former (two) argue that the interdependence phenomena of a global savings glut and a secular stagnation cause an oversupply of savings and thus drive down rates. From this position, central bank merely react to market forces. The latter dissent and argue that it was rather the other way around and an asymmetric central bank policy aimed at propping up equity prices led to the secular stagnation now quoted for its justification. In contrast, from the perspective of a critique of ideology, safe real rates where neither driven down by market forces nor central banks but by the weight of being not reasonably safe but riskless. Specifically, I argue that by equating the riskless return with the short-term interest rate, Black and Scholes (1973) state a tautology and imply that both rates shall be zero. In the subsequent inquiry, I show that this argument allows for a neat narration of the economic history of the neoliberal age. Furthermore, I explain why under current conditions ultra low interest rates fail to translate into inflation.","PeriodicalId":252052,"journal":{"name":"American Review of Political Economy","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123089835","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Existence and Evolution of Business Groups in Emerging Economies: A Selective Review of the Literature","authors":"Rupambika Bharati","doi":"10.38024/arpe.213","DOIUrl":"https://doi.org/10.38024/arpe.213","url":null,"abstract":"Business Groups and their ubiquitous presence in emerging economies affect the broad patterns of economic performance. The study of such hybrid organizational form has been relevant to various domains such as industrial organization, corporate finance, strategic management, economics and sociology etc. This paper is an attempt to first understand the reason for their dominant presence in emerging markets and then proceeds to review the literature based on the dominant research perspectives of the existing scholarly work.","PeriodicalId":252052,"journal":{"name":"American Review of Political Economy","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125467800","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Gentrification and Care: A Theoretical Model","authors":"Laura Nussbaum-Barbarena, A. Rosete","doi":"10.38024//ARPE.BR.1.11.21","DOIUrl":"https://doi.org/10.38024//ARPE.BR.1.11.21","url":null,"abstract":"Gentrification and care are two topics that are rarely brought into conversation in the economics literature. Often, gentrification is studied in relation to displacement, housing prices, property values, and segregation. The economics of care, on the other hand has often been occupied with measurement and valuation of women’s labor on a global, de-regulated market. Anthropologists and other social scientists, however, have studied the collaboration and care work that women foster beyond the household. The sharing of unpaid social reproductive labor among networks of women/families is key to sustaining the coherence of low-income communities. If gentrification causes displacement, then, an episode of gentrification can cause care networks to disperse. To bridge the largely parallel literatures on gentrification and care work, we present a mathematical model of gentrification where agents base their decision to move on both the price of housing, and the price of care. The price of care is offset by the ability of agents to form care networks. Our models suggest that gentrification disperses the care networks of the poor, increasing their vulnerability to rising housing prices. Thus, decisions to move are predicated on a particular ‘social price point’-a decision that is not only economic but reflects increasing geographic distance from those who collaborate to accomplish social reproductive and other tasks of community maintenance.","PeriodicalId":252052,"journal":{"name":"American Review of Political Economy","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134147606","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Gentrification and Care A Theoretical Model","authors":"Laura Nussbaum-Barbarena, A. Rosete","doi":"10.38024/arpe.br.1.11.21","DOIUrl":"https://doi.org/10.38024/arpe.br.1.11.21","url":null,"abstract":"Gentrification and care are two topics that are rarely brought into conversation in the economics literature. Often, gentrification is studied in relation to displacement, housing prices, property values, and segregation. The economics of care, on the other hand has often been occupied with measurement and valuation of women’s labor on a global, de-regulated market. Anthropologists and other social scientists, however, have studied the collaboration and care work that women foster beyond the household. The sharing of unpaid social reproductive labor among networks of women/families is key to sustaining the coherence of low-income communities. If gentrification causes displacement, then, an episode of gentrification can cause care networks to disperse. To bridge the largely parallel literatures on gentrification and care work, we present a mathematical model of gentrification where agents base their decision to move on both the price of housing, and the price of care. The price of care is offset by the ability of agents to form care networks. Our models suggest that gentrification disperses the care networks of the poor, increasing their vulnerability to rising housing prices. Thus, decisions to move are predicated on a particular ‘social price point’-a decision that is not only economic but reflects increasing geographic distance from those who collaborate to accomplish social reproductive and other tasks of community maintenance.","PeriodicalId":252052,"journal":{"name":"American Review of Political Economy","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132110632","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The unilateral gift economy conjecture","authors":"G. Vaughan","doi":"10.38024/ARPE.VG.1.6.21","DOIUrl":"https://doi.org/10.38024/ARPE.VG.1.6.21","url":null,"abstract":"I offer the conjecture that unilateral maternal provisioning constitutes a basic economic model for all with implications and a logic of its own. Market exchange is a derivative of this model, which contradicts it and creates its own area of life. The two models interact without our awareness because we have not taken unilateral gifting seriously. Renaming exploitation as the taking of unilateral gifts reveals another way to connect the dots between unwaged housework, surplus labor and ‘nature services’, and these are also connected to colonialism, corporate globalization and ecological devastation.","PeriodicalId":252052,"journal":{"name":"American Review of Political Economy","volume":"236 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133734664","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Did North Carolina Economically Breed-Out Blacks During its Historical Eugenic Sterilization Campaign?","authors":"G. Price, W. Darity, R. Sharpe","doi":"10.38024/arpe.pds.6.28.20","DOIUrl":"https://doi.org/10.38024/arpe.pds.6.28.20","url":null,"abstract":"Evidence exists that the state of North Carolina’s eugenic sterilization program was racially biased insofar as it specifically targeted black Americans. In this paper, we consider the extent to which state-sanctioned eugenic sterilization in North Carolina was motivated by a desire to reduce the size of a presumably genetically unfit and unproductive surplus population. We utilize data on 2,163 eugenic sterilizations in the state of North Carolina between 1958-1968. Count data parameter estimates from a specification that conditions county-level eugenic sterilizations on measures of race-specific components of the surplus population reveals that the number of state-sanctioned eugenic sterilizations increased only with a county’s black surplus population. Our results suggest that over the 1958-1968 time period North Carolina’s eugenic sterilization was apparently tailored to asymptotically breeding-out the offspring of a presumably genetically unfit and undesirable surplus black population. This suggests that the presumption of genetic inferiority was unique to, and a burden born by blacks, as only their eugenic sterilizations in North Carolina were a function of their surplus population shares.","PeriodicalId":252052,"journal":{"name":"American Review of Political Economy","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116466684","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Impact of motives of inward FDI on benefits perceived by foreign multinational enterprises investing in India","authors":"N. Kishor, Mohd Afaq Khan, A. Sanjeev","doi":"10.38024/arpe.kks.6.28.20","DOIUrl":"https://doi.org/10.38024/arpe.kks.6.28.20","url":null,"abstract":"The study aims to determine the principal motives of inward foreign direct investment by foreign multinational companies in India. The study undertakes to find out the impact of motives of inward foreign investment of multinational firms on benefits as perceived by the managers. The paper uses a survey approach to collect data about motives and its impact on benefits. Statistical tools, namely confirmatory factor analysis, structural equation modeling have been used. The study found that principal motive for foreign multinational firms to undertake investment is market-seeking followed by resource-seeking and efficiency-seeking motive. The strategic-asset seeking motive does not significantly influence foreign direct investment in India. The study found a positive impact between perceived benefits and motives of inward foreign direct investment in India.","PeriodicalId":252052,"journal":{"name":"American Review of Political Economy","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129178322","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The State of Post-Keynesian Economics and its connections with other heterodox perspectives","authors":"M. Vernengo","doi":"10.38024/arpe.209","DOIUrl":"https://doi.org/10.38024/arpe.209","url":null,"abstract":"","PeriodicalId":252052,"journal":{"name":"American Review of Political Economy","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116902963","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}