Capitalist Market System Research Articles

Teaching as a dance with and towards dignity: Recognizing dignity in educational relationships

In educational research there is a plethora of propositions on different ways to address the problem of too narrow and merely/mainly extrinsic and future-oriented aims of education such as the one of producing citizens who can contribute to national competitiveness in a global capitalist market system. Several approaches counterbalance such narrow aims by offering more holistic aims such as cosmopolitan, democratic citizenship, flourishing and liberation. However, in addition to broadening the range of possible aims of education, there is also a need to address the underlying ethical and relational problem of how aims in themselves, even though holistic, still always run the risk of becoming stagnant and reified. In this paper, I argue together with Gert Biesta and Sharon Todd that the unavoidable fact of educational aims involving the risk of becoming stagnant can have detrimental effects on relationships in classrooms. However, I re-frame the problem from an ethical viewpoint. I propose dignity-awareness as a practice of ethical relational attunement to educational aims where these are left open for renewal and dynamic co-existence, not merely through a process of strenuous self-reflection and pedagogic dialogue, but through artfulness and playfulness. I suggest dance as a metaphor for an ethical awareness/interaction in which the relative importance of educational aims is acknowledged and appreciated.

СОВРЕМЕННЫЕ МЕТАМОРФОЗЫ СОЦИАЛЬНО-ЭКОНОМИЧЕСКОГО СОДЕРЖАНИЯ ТРУДА

This article considers the consequences of the transformation of the market-capitalist system, which are affecting an important aspect of socio-economic relations such as labor, labor relations and human labor motivation. The analysis allows us to talk about significant transformations in the socio-economic content of labor and labor relations during the transition to a post–industrial economy in the 21st century, which are caused by the technological revolution and its achievements, on the one hand, and the consequences of the imposed consumer society, on the other.We have called these transformations, which have a contradictory character, metamorphoses. The main question, which we are trying to find an answer is what is the true essence of the results of these transformations: the gradual liberation of labor from the shackles of exploitation or the emergence of new transformed forms of alienation of labor from its humanistic existence?

Альтернатива гибридному капитализму, контролируемому государством

The paper critically analyzes various interpretations of the concept of state capitalism. The author differentiates the state as the owner of the means of production, state as a form of economic coordination, state as the dominant institution of political power, and state as an instrument for extracting and distributing surplus value. The failure of post-socialist European countries to transition to a sustainable market capitalist system, as well as the rise of state-managed hybrid market economies in China, have led to such economies becoming long-term economic formations. A hybrid economy, in which a market-capitalist sector coexists with a politically controlled and dominant public sector, is proposed as an alternative to neoliberal forms of coordination. It provides the foundation for the development of a rational political economy.

Fumio Kishida’s first year in PM office: Is Abenomics to end or stay?

The article addresses the experience of Fumio Kishida’s first year as Prime Minister of the Japanese government with respect to its economic policy vision and implementation. The latter is presented by comparing it to the policy pursued over the past ten years by PM Kishida’s predecessors in the office, on the one hand, and to the commitments he announced during the 2021 election campaign, on the other. The paper notes that, in its basic moments, the economic policy of the cabinet of the new leader of the ruling Liberal Democratic Party continues the course previously maintained by the team of then-PM Shinzō Abe, known as Abenomics. This manifests itself in the specifics of the use of basic tools of macroeconomic policy, monetary and tax instruments to be named first, as well as in choosing priorities for the policy stimulating consumption and economic activity. The continuity of the course can be particularly illustrated by loose monetary policy; positive view of the depreciation of Japanese national currency; moderately expansionary fiscal policy relying on domestic borrowing; preference given to the interests of the corporate sector. Legacy inherited from previous administrations also includes the government striving to revitalize private demand; promoting investment in R&D, venture and innovating enterprises with particular stress on regional economies. Kishida’s particular emphasis on invigorating redistributive mechanisms and increasing labor share in national income has not yet led to material decisions and actions by the government. Nor did Kishida make progress with his commitment to expand the ring of beneficiaries of the capitalist market system, as part of his idea of “new capitalism”.In recent months, the attention of the government and its economic team has been largely focused on overcoming the consequences of the disruption of transnational chain lines in production, trade, and logistics, as a result of the coronavirus pandemic and rising geopolitical tensions. In addressing this issue, they prioritized subsidizing businesses and households to partially offset energy and food price hikes; securing diversification or localization of critical links of trade and production chains, as well as the exclusion of politically undesirable or unstable locations from them. At this stage, however, the actions of the government are limited to setting relevant goals and plans to provide finance for programs with effectiveness yet to be proved.

Альтернатива гибридному капитализму, контролируемому государством

The paper critically analyzes various interpretations of the concept of state capitalism. The author differentiates the state as the owner of the means of production, state as a form of economic coordination, state as the dominant institution of political power, and state as an instrument for extracting and distributing surplus value. The failure of post-socialist European countries to transition to a sustainable market capitalist system, as well as the rise of state-managed hybrid market economies in China, have led to such economies becoming long-term economic formations. A hybrid economy, in which a market-capitalist sector coexists with a politically controlled and dominant public sector, is proposed as an alternative to neoliberal forms of coordination. It provides the foundation for the development of a rational political economy.

Socialism: Utilitarian and Deontic

This article argues that those who advocate the capitalist market system on the basis of the ‘invisible hand’ or ‘spontaneous order’ belong to a tradition in political philosophy which attempts to find ways to get the most out of a flawed human nature, whereas socialists tend to belong to the opposing tradition which maintains faith in human improvement. The former tradition involves a kind of consequentialism in which goodness can be achieved irrespective of people’s intentions, whereas the latter tradition, with its emphasis on conscious decision making and the ‘good will’, includes Kantian deontology. Both utilitarian and deontological arguments for socialism are discussed, but it is argued that the emphases on human dignity and on deliberate planned action make socialist arguments sit more comfortably with deontology. This is most clearly the case when socialist thinkers transform Kantian monological universality into dialogical and communicative mutuality.

RUSSIAN SPACE IN THE PROCESS OF HISTORICAL TRANSITIONS (TOWARDS THE DEVELOPMENT AND IMPLEMENTATION OF THE THEORY OF POST-SOVIET SYSTEM TRANSFORMATIONS OF THE ORGANIZATION OF THE SOCIO-ECONOMIC SPACE)

As an object of research in the article, the phenomenon of the Russian space, taken in a long historical retrospective, appears, the subject issues of the study of which are the prerequisites, meanings and content, as well as significant cause-and-effect relationships and the dynamics of its transformations. It is shown that the processes of acquisition and development (colonization) of the country’s space took many centuries, took place in different directions, with different intensity and were initially associated with special motives, extraordinary efforts and contradictory consequences. The cornerstones of the main stages of transformation of the Russian space — pre-revolutionary, Soviet and post-Soviet — are considered. A theoretical understanding of the modern stage is proposed, the deep meaning of which the author associates with the need to remove the main contradiction of the spatial organization of life in the country, due to the abrupt transition of the country «from socialism to the market». The driving forces and limitations of the formation of a new configuration of space are highlighted, the course and content of this transition process are predicted. In the author’s understanding, the ongoing transition is characterized by a complex interweaving of reforms and counter-reforms: the market-federative reversal of the 1990s (with its well-known excesses of reformation radicalism) is opposed by a mechanistic one that ignores the realities of the established market-capitalist system, and therefore counterproductive reproduction of a number of Soviet planning and placement algorithms of public administration. The conceptual approach to the consideration of the organization of the socio-economic space as a large complex dynamic open system and to the interpretation of its transformation processes as systemic transformations is substantiated. The deep Russian features of state participation in the transformation of the socio-economic space are revealed, the requirements for the current state regional policy are formulated.

Exemplary Ethical Communities. A New Concept for a Livable Anthropocene

This article argues that we need to look at living examples provided by non-state communities in various regions of the world that are, perhaps unwittingly, contributing to the maintenance of the Earth’s optimal thermal balance. These fully sustainable communities have been living outside the mainstream for centuries, even millennia, providing examples in the global struggle against the degradation of social–ecological systems. They have all, to varying degrees, embraced simple forms of living that make them ‘exemplary ethical communities’ (EECs)—human communities with a track record of sustainability related to forms of traditional knowledge and the capacity to survive outside the capitalist market and nation-state system. The article proceeds in three steps: First, it condenses a large body of research on the limits of the existing nation-state system and its accompanying ideology, nationalism, identifying this institutional–ideological complex as the major obstacle to tackling climate change. Second, alternative social formations that could offer viable micro-level and micro-scale alternatives are suggested. These are unlikely to identify with existing nation-states as they often form distinct types of social communities. Taking examples from hunter-gatherer societies and simple-living religious groups, it is shown how the protection and maintenance of these EECs could become the keystone in the struggle for survival of humankind and other forms of life. Finally, further investigation is called for, into how researchers can come forward with more examples of actually existing communities that might provide pathways to sustainability and resistance to the looming global environmental catastrophe.

CULTURAL GLOBALIZATION IN A CONTEST WITH THE STATE AND NATIONALISM

What is globalization? It is difficult to define globalization with a single definition although it is a buzz word of this century; this term has mesmerized and fascinated the world significantly. It is considered as the large scale convergence process, it is a multidimensional phenomenon the main agent to activate the merger of economy and culture of the local and distant as a result growing interdependence in all walk of life is eradicating the cultural, social, territorial and religious barriers. The advocates of globalization predict that that through this process poor or developing countries can improve their economies and can raise the standard of living of their common people while the opponents of globalization claim that uncontrolled or free international market economy is benefitting the multinational corporations mostly operated by the entrepreneurs of the western world at the expense of local businesses, local cultures and common people. The advancement of technology and free market economy are working together to create a new globalized and interconnected world. The dynamic and ever-changing technological revolution involving the creation of a computerized network of communication, transportations, and exchange the acceptance of a globalized economy, the enlargement of world capitalist market system is absorbing ever more areas of the world and orbit of production, exchange, and consumption. As the world is experiencing and exploring the massive waves of ideas, norms, values, beliefs and hard products through direct as well as indirect channels not only media but tourists, businessmen, NGO’s, migrants are transferring their ideas, beliefs, and ideas from one part of the world to another.

CONSTITUIÇÃO ECONÔMICA BRASILEIRA E COVID-19: A REINSERÇÃO DOS VALORES SOCIAIS DA ANÁLISE JURÍDICA DA ECONOMIA PARA ENFRENTAMENTO DA CRISE

Opportunized by the socioeconomic crisis caused by the pandemic of COVID-19, this article aims to reflect on the relationship between Law and Economy according to the design of the 1988 Federal Constitution. Execution takes place by the deductive method, focuses on the literature review on the topic and historical background anduses an appropriate bibliography. From the analysis it will be inferred the economic model conferred to the Brazilian State in the adopted capitalist system and from there establishing its role in the economic domain, which will allow to find the fundamentals of social justice that the economic legal order advocates for the achievement of economic policies and facing the effects of the aforementioned socioeconomic crisis, as well as demonstrating the unfeasibility of implementing the capitalist market system and the Economic Analysis of Law.

Transformation of conservative politics, urban space and taste in contemporary Turkey

ABSTRACT This article examines the simultaneous transformation in conservative politics, urban space, and taste following the foundation of the Justice and Development Party (AKP) in Turkey. The AKP represents a new conservative position by softening the Islamist triadic opposition to the capitalist market system, secular state, and material and cultural domination of the modern West. The changing conservative position and representation paved the way for the transformation of conservative middlebrow taste. Based on ethnographic research in a conservative upper-middle class neighborhood in Ankara, this article examines of the opening up of the closed world of the Islamist opposition to the infinite universe of commodities. Deploying Pierre Bourdieu’s conceptual tools, it explicates the observed changes in conservative lifestyles as an outcome of the transformations in the political field, leading to the reconfiguration of conservative urban space and future expectations.

ФІНАНСОВІ ІННОВАЦІЙ: ТЕОРЕТИЧНИЙ ДИСКУРС

The article is devoted to the essence of financial innovations and their economic nature, which primarily reflects innovative developments in the financial segment of the global market, which are implemented in cash and cover mainly significant qualitative changes in organizational, economic and institutional support of financial and credit, financial instruments and financial business practice, as well as the activities of financial institutions. The generalization of methodological and conceptual principles of various theories of financial markets suggests that each of them has its advantages and "bottlenecks" and has performed a historical function in shaping scientific views on financial innovation, their economic nature and mechanisms for implementation in the global process. reproduction of the social product. At the same time, each direction of the theoretical discourse of financial innovations has always been a kind of reaction to the transformations of the capitalist market system and the world financial market, which they have undergone at every stage of world economic progress. At the same time, the theoretical discourse of financial innovations is still in the so-called pre-paradigmatic stage of the study of systemic processes of innovation in the global financial sector. This stage is characterized by the presence of separate concepts of financial innovations and the practice of their implementation in the absence of a single, recognized by all members of the scientific community of their comprehensive theoretical justification. This raises the question of finding world economic science qualitatively new conceptual contours of the study of financial innovations and alternative models of world economic development, taking into account the latest paradigm of financial globalism. In our opinion, the choice of the most effective model should organically integrate on its conceptual platform all constructive elements of previous theories of financial innovation research with their corresponding adaptation to perspective structural changes of the world financial market due to irreversible impact of financial globalization on the international economic system.

Human development and convergence among the states of former Yugoslavia

AbstractAfter the devastation of the Second World War, the federal units of the former Yugoslavia were on their way to catching up with the Western Europe, with different degrees of success. In fact, Yugoslavia was considered a success story among the socialist economies due to its specific self-management system. Nevertheless, among the Federal units that later became independent states, regional differences in development level increased, in spite of the proclaimed policy to narrow them. Enough time has passed since the wars of the breakup and the economic transition to check if this divergence is continuing under a capitalist market system, now that all the countries are on the path to the European Union (EU) accession. The paper tests the convergence hypothesis among the states of the former Yugoslavia in terms of Human Development Index (HDI), as a more complex indicator of country development than GDP per capita. The results of two different approaches to test for the presence of β (beta) and σ (sigma) convergence suggest that the gap between the states of former Yugoslavia is closing, albeit at a slow rate. Given that convergence is slow, the active EU policies aimed at hastening the accession of the currently non-member states of the former Yugoslavia would accelerate the process.

Creative Labor: Distinctive Aspects, Dynamics of Development and Characteristics of System Transformation

Based on the theory of noonomy developed by S. D. Bodrunov, the author covers the possibilities of its use in studying a range of issues addressed under the Marxist paradigm, in particular when it comes to creative, universal labor. The author demonstrates an abiding role of labor in the economic development. The paper reveals changes of the creative worker place, role and value caused by modern technological transformations. The author delves into the need of addressing the social utility of creative labor and importance of studying its value in use. The paper presents the author's vision of the dynamics of the new forms of personal production factor development in a context of increasing importance of knowledge and competence.It is known that the labor subject is gradually transformed from a tool for material assets creation into the goal and condition of its own enlarged reproduction and qualitative internal improvement as the society shifts to a higher stage of technological development. As a result, the worker that mostly operates a highly intelligent creative element in his activity starts restructuring the existing relations system with the capital owner.This leads to the assumption that the new form of participation allows a creative worker to get back the self-organization property and self-sufficiency of the labor process which he had lost meanwhile restoring an almost equal negotiation power in course of interaction with capital. This gives grounds for firm background for the situation when the creative labor unit, on the one hand, and the capital owner, on the other, start to interact as partners and coworkers. But because the hired labor of the creative worker still prevails in the framework of the capitalist market system, it is at least premature to debate about the rapid overcoming of the economic dependence of labor on capital.

Halliday, Daniel. The Inheritance of Wealth: Justice, Equality, and the Right to Bequeath. Oxford: Oxford University Press, 2018. Pp. 256. $42.95 (cloth).

Halliday, Daniel. <i>The Inheritance of Wealth: Justice, Equality, and the Right to Bequeath</i>. Oxford: Oxford University Press, 2018. Pp. 256. $42.95 (cloth).

Appropriative practices and the ontology of economic form

Apesar de suas diferenças, tanto a economia tradicional quanto a economia política Marxista veem a economia contemporânea como um sistema de mercado completamente capitalista. Isso se traduz tanto na desconsideração de grandes áreas da economia, quanto no ocultamento da presença generalizada de outras formas econômicas. Esta situação se tornou mais significante e mais óbvia com a profusão de novos formatos econômicos na crescente economia digital, inclusive de tipos de dádivas e híbridos de dádiva e mercadoria. Em resposta, este trabalho propõe uma nova estrutura para analisar os diversos sistemas econômicos: uma ontologia das formas econômicas, na qual cada tipo é um complexo de práticas apropriativas. Diferentes formatos econômicos são estruturados por diferentes combinações de práticas e, podemos explicar como cada tipo opera pela análise das práticas envolvidas, e as tendências geradas por sua interação. Este argumento é demonstrado pela aplicação rápida a alguns exemplos da economia digital contemporânea: os serviços de busca da Wikipedia, Apple e Google. Este trabalho também deve ser lido como uma aplicação do realismo crítico a um caso empírico e, portanto, como um exemplo de algumas questões que surgem quando tentamos aplicar a abordagem realista na pesquisa social.

The Benefits of Auditors’ Sustained Ethical Behavior: Increased Trust and Reduced Costs

Studies demonstrating the benefits of ethical behavior at an individual level are scarce. The business ethics literature centers its analysis on unethical behaviors and their consequences, rather than ethical behaviors and their benefits. There is now considerable debate on the role of auditors in society and the function of accounting firms in the free market capitalist system. Specifically, the eminently ethical nature of the auditor’s work has been highlighted. Therefore, the aim of our paper is to show the impact of auditors’ sustained ethical behavior: the trust it generates. This trust results in considerable benefits for the firm due to a reduction in the costs of the partner’s supervision of the auditor. The methodology chosen to validate these claims is a survey of partner of the audit firm in auditing companies. The results of this research confirm the hypotheses raised in the theoretical model.

Play fair! Innovating internal self-regulation in the market for profit

Regulation imposes compliance demands on business, but these controls by no means ensure that corporations will act ethically. Externally imposed controls by government or industry are prompts intended to move organizations to engage in a moral minimum. Such efforts are typically reactionary corrective measures, often crafted and applied after an ethical scandal occurs, and thereby offer limited effectiveness in providing systemic change. To provide insight on internally driven controls, this article examines how a newer form of monetized self-regulation, referred to as inverted moral markets, might be leveraged to motivate corporate ethical behavior. Inverted moral market (IMM) operations target firms suspected of unethical action, providing a type of market whistleblowing. Such activities are monetized through the sale of information to investors and by short selling. Rather than a desire to build moral strength, IMM firms are motivated by self-interest and profit. They can potentially ‘do good’ by imposing self-correction within the market, but without virtuous intent. We explore IMMs and the varied impacts their activities may have on the functioning of the overall market. We argue that a more balanced approach between internal and external regulation may enhance the environment for moral balance in a capitalist market system.

Economic reform as a precursor to political reform for development – does China have a model for resource-rich African Muslim countries?

Having gone through colonial exploitation for centuries, most of the colonies after independence from the West were confronted with two models. Contrary to the free market capitalist system based on power-sharing, some of the newly independent countries opted for an authoritarian model and ended up with unjust/distorted development based on exclusivist institutions. Despite having rich-resource endowments with less pressure of population, these countries essentially failed to promote inclusive economic institutions to ensure private property and an unbiased system of law which, in turn, would unleash the immense potentials based on incentives, talent and skills highly required for enhancing productivity and prosperity. The authoritarian but good governance (GG) under state-led development of East Asian miracle economies, in general, and China, in particular, pursuing the goal of economic modernisation before political reform made spectacular achievements in less than quarter of a century. But some of the resource-rich African countries, being unable to remain immune from the vested interest/political lobby groups, failed to make economic reform being promoted by agriculture-led development to facilitate political reform subsequently. Based on the main research question of this paper, it will be argued that the massive economic reform as that of China in terms of agriculture-led development can gradually set the stage for subsequent political reform. Based on the historical evidence of successful authoritarian development model, this paper argues in favour of Chinese style of gradualist development using incentives through empowering the households as well as individuals in materialising their potentials. However, only the effective inclusive institutions as experienced by way of ensuring all sorts of public and private goods can help the resource-rich African Muslim countries to pursue economic prosperity with fair distribution of economic, political and socio-cultural power resources. This, in turn, can help restore a ‘feeling of togetherness’ or what one of the greatest scholars of Islam – Ibn Khaldun – terms as ‘Asabiya’ for achieving a comprehensive, inclusive and sustainable development made possible by GG as opposed to liberal democracy.

What If Piketty Is Right? Real Economic Costs of Rising Income Inequality

ABSTRACTThomas Piketty's analysis of income and wealth distribution, Capital in the Twenty-First Century, argues that wealth has become increasingly concentrated in the hands of the most affluent, while lower and middle class real incomes have stagnated; he warns that this trend could have “potentially terrifying” results, possibly even violent revolution. This article presents evidence that growing inequality weakens the entire economy by eroding the purchasing power of the vast majority of the population and the education of the labor force, while increasing its vulnerability to future collapses of the financial markets. It agrees with Piketty's concern that the capitalist market system, driven by Adam Smith's classic reliance on the pursuit of individual self-interest, lacks mechanisms to correct these distortions, which must be addressed by new policy initiatives.