ECONOMIC AFFAIRS最新文献

{"title":"The economic surplus: A history of an eventually problematic idea","authors":"Evan W Osborne","doi":"10.1111/ecaf.12691","DOIUrl":"https://doi.org/10.1111/ecaf.12691","url":null,"abstract":"<p>The economy-wide economic surplus, defined as output beyond what is needed to sustain the labouring workforce, is one of the oldest ideas in Western political economy. Marx permanently changed economic thinking by characterising it as exploitation. As confidence in government management of economic affairs grew in the twentieth century, how to spend the surplus better than free individuals would spend it themselves became a growing theme among economists and among the broader public. While the role of the surplus in economic theory today is modest, its vibrancy in the public conversation remains.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 1","pages":"45-61"},"PeriodicalIF":1.0,"publicationDate":"2025-01-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecaf.12691","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143389429","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Exploitation of Eurosystem loopholes and their quantitative reconstruction","authors":"Karl Svozil","doi":"10.1111/ecaf.12688","DOIUrl":"https://doi.org/10.1111/ecaf.12688","url":null,"abstract":"<p>This article identifies and analyses six key strategies used to exploit the Eurosystem's financial mechanisms, and attempts a quantitative reconstruction: inflating TARGET balances, leveraging collateral swaps followed by defaults, diluting self-imposed regulatory rules, issuing money through Emergency Liquidity Assistance (ELA), acquisitions facilitated via the Agreement on Net Financial Assets (ANFA), and the perpetual (re)issuance of sovereign bonds as collateral. These practices stem from systemic vulnerabilities or deliberate opportunism within the Eurosystem. While it does not advocate for illicit activities, the article highlights significant weaknesses in the current structure and concludes that comprehensive reforms are urgently needed.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 1","pages":"17-26"},"PeriodicalIF":1.0,"publicationDate":"2025-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecaf.12688","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143388986","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"What Sweden thinks about markets, capitalism and the rich","authors":"Anders Ydstedt,&nbsp;Rainer Zitelmann","doi":"10.1111/ecaf.12684","DOIUrl":"https://doi.org/10.1111/ecaf.12684","url":null,"abstract":"<p>Attitudes towards the rich are far more positive in Sweden than in France, Spain, Germany, and Italy. Attitudes towards the market economy are also more positive in Sweden than in all other European countries, except Poland. Although Sweden is perceived by some as a model of ‘democratic socialism’, it has been 50 years since that this was – almost – the case. Today, Sweden is one of the ten most economically free countries in the world, although income tax is still above average. Corporate taxes are moderate, however, and inheritance, gift, and wealth taxes have been abolished. This article presents the findings of two surveys conducted by Ipsos MORI in Sweden. The first survey focused on perceptions of the rich, the second explored attitudes towards the market economy and capitalism.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 1","pages":"27-44"},"PeriodicalIF":1.0,"publicationDate":"2024-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecaf.12684","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143389069","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Human presence is a necessary part of the solution for environmental conservation and land use","authors":"José Ramón Arévalo","doi":"10.1111/ecaf.12681","DOIUrl":"https://doi.org/10.1111/ecaf.12681","url":null,"abstract":"&lt;p&gt;Throughout history, overpopulation has consistently been recognised as a significant issue, causing concern even among early civilisations. In certain societies, such as the Neanderthal, Maori, Fijian and Congolese, cannibalism emerged to control population and provide a source of sustenance for the rest of the tribe (Culotta, &lt;span&gt;1999&lt;/span&gt;; Rubinstein, &lt;span&gt;2004&lt;/span&gt;). The Greeks were also among the first to raise awareness about the problem of overpopulation, expressing concerns about food supplies and population growth (Harrow, &lt;span&gt;1996&lt;/span&gt;). Even parts of the Bible can be seen as advocating population control to maintain balance in the world (Ehrlich, &lt;span&gt;1968&lt;/span&gt;), although it can be considered contradictory to the dictum “be fruitful and multiply” (Genesis 1: 28).&lt;/p&gt;&lt;p&gt;These concerns have persisted over time and have been reinforced by the works of influential researchers on public policies. Examples include &lt;i&gt;The Population Bomb&lt;/i&gt; (Ehrlich, &lt;span&gt;1968&lt;/span&gt;) and &lt;i&gt;The Limits of Growth&lt;/i&gt; (Meadows et al., &lt;span&gt;1972&lt;/span&gt;), which made dire predictions about the future of humanity. These concerns continue to be relevant with regular media reports or reports by institutional agencies such as the International Panel for Climate Change (IPCC) and the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) indicating that we have passed the sustainable equilibrium point. Moreover, more extreme predictions are made pointing towards global warming exceeding 5 °C by 2100, undeniably alarming and posing an existential threat to the lives and well-being of billions. Furthermore, despite lacking recognition by the International Union of Geological Sciences (IUGS), the concept of the ‘Anthropocene epoch’ is now present in scientific literature.&lt;/p&gt;&lt;p&gt;In the light of these ideas, human activity is often seen as incompatible with the preservation of the planet, and directly affects the continuance of the human population itself (Shukla et al., &lt;span&gt;2019&lt;/span&gt;). This is partly due to the limited availability of agricultural land and political proposals to control anthropogenic greenhouse gas emissions. Although it has been nearly 250 years since Malthus (&lt;span&gt;1798&lt;/span&gt;) and 150 years since William Stanley Jevons (Missemer, &lt;span&gt;2012&lt;/span&gt;) sounded the alarm, the message remains the same: humans are the problem.&lt;/p&gt;&lt;p&gt;In this challenging situation, it is apparently difficult to reconcile continued human population growth with environmental conservation or the establishment of protected areas. Around the world, there are various types of such protected areas, including rural parks and marine protected areas, that attempt to balance human presence with environmental conservation. Indeed, some argue that humans should be removed from these areas altogether. In contrast, I aim to demonstrate that the presence of humans in many regions is not detrimental but rather beneficial. Even in densely p","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"45 1","pages":"132-139"},"PeriodicalIF":1.0,"publicationDate":"2024-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecaf.12681","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143389164","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Pax economica: Left-wing visions of a free trade world By Marc-William Palen. Princeton University Press. 2024. pp. 328. £30.00 (hbk). ISBN: 978-0691199320. £21.00 (ebk). ISBN: 978-0691205137","authors":"Catherine McBride","doi":"10.1111/ecaf.12665","DOIUrl":"https://doi.org/10.1111/ecaf.12665","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"643-645"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435572","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 future of American democracy?","authors":"John Phelan","doi":"10.1111/ecaf.12675","DOIUrl":"https://doi.org/10.1111/ecaf.12675","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"614-624"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435048","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":"A minor masterpiece? Reconsidering De ponderibus et mensuris by Juan de Mariana","authors":"Giovanni Patriarca","doi":"10.1111/ecaf.12664","DOIUrl":"https://doi.org/10.1111/ecaf.12664","url":null,"abstract":"<p>The article investigates a little-known work titled <i>De ponderibus et mensuris</i> [On Weights and Measures] written by Juan de Mariana in 1599. It contains the embryo of his future monetary theories, and has other interesting aspects, not only juridical and historical but also epistemological. Significant points of convergence with the early modern mathematics and abacus tradition make it unique. Apart from its stylistic, pedagogical and technical originality, this work also appears as a watershed for the evolution of economic science, its language and methodology.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"487-500"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435575","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":"Growth: A reckoning By Daniel Susskind. Allen Lane. 2024. pp. 368. £25.00 (hbk). ISBN: 978-0241542309. £10.99 (pbk). ISBN: 978-0141998718. £13.99 (ebk). ISBN: 978-0141998725","authors":"J R Shackleton","doi":"10.1111/ecaf.12673","DOIUrl":"https://doi.org/10.1111/ecaf.12673","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"635-637"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435045","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":"Money capital: New monetary principles for a more prosperous society By Patrick Bolton and Haizhou Huang. Princeton University Press. 2024. pp. 312. £30.00 (hbk). ISBN: 978-0691232225. £21.00 (ebk). ISBN: 978-0691232379","authors":"John Greenwood","doi":"10.1111/ecaf.12680","DOIUrl":"https://doi.org/10.1111/ecaf.12680","url":null,"abstract":"","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"626-628"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435078","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":"Economic growth by catch-up nations in an age of neo-protectionism and smart automation","authors":"Nurullah Gur","doi":"10.1111/ecaf.12670","DOIUrl":"https://doi.org/10.1111/ecaf.12670","url":null,"abstract":"<p>The global economic landscape has recently undergone significant changes, marked by the rise of neo-protectionist policies and the emergence of a new techno-economic paradigm driven by smart automation technologies such as artificial intelligence and robots. Advanced nations have increasingly used neo-protectionism and smart automation technologies to address their structural problems. These policies will inevitably trigger changes in global supply chains and trade networks. This could undermine the competitive advantages of catch-up nations, and an economic growth strategy centred on foreign direct investments. While these changes in the global economy may have negative impacts on the economic progress of some catch-up countries, they may open new windows of opportunity for others. This article examines the challenges and opportunities for catch-up nations in an era of neo-protectionism and smart automation technologies.</p>","PeriodicalId":44825,"journal":{"name":"ECONOMIC AFFAIRS","volume":"44 3","pages":"446-464"},"PeriodicalIF":1.0,"publicationDate":"2024-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142435573","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}