Wealthy Capitalists Research Articles

Emerging patterns of accumulation in land redistribution in South Africa

AbstractThis article contributes to the wider debates on the impacts and outcomes of state efforts to create agrarian capitalists in land reform and agriculture in most countries of the global South. Specifically, this article presents empirical evidence on South Africa's State Land Lease and Disposal Policy (SLLDP) and analyses emerging accumulation dynamics in land redistribution. The evidence presented demonstrates that most of the SLLDP farm beneficiaries are capitalists from non‐agrarian sectors who increasingly see land reform as the new frontier for accumulation with significant opportunities to access state land and production support. Other agrarian capitalists leverage political influence and accumulate through privileged access to public resources. In contrast, accumulation from below through the reinvestment of farming proceeds remains constrained. Promoting a small segment of already wealthy capitalists greatly limits the potential of land reform to transform social relations in property in favour of historically marginalised social classes.

Jack London’s Koreans as “People of the Abyss”

Jack London (1876–1916) was America’s leading novelist and short story writer at the dawn of the twentieth century. He was also a brilliant essayist and feature-writing journalist and a crusading socialist, an impassioned and articulate spokesman for the underclasses. In his essays and in much of his fiction, London was determined to demonstrate the squalid living conditions of the working class. His most poignant work is his 1903 book The People of the Abyss, which brilliantly portrays the economic and social misery of the poor living in London’s great East End slum. London’s thesis is not a condemnation of the wealthy capitalist class per se; instead, he points out the irony that tens of thousands of British subjects were still living and working in conditions of abject degradation in what was supposedly the wealthiest city in the world. London maintained this theme when he traveled to Japan and Korea during the winter and spring of 1904 to report on the Russo-Japanese War for the Hearst newspaper chain. His twenty-two feature articles and accompanying photographs portray the squalor and degradation of the Korean people. As was the case the previous year in Great Britain, London’s goal was not to condemn Korea’s ruling class but to showcase the misery of Korea’s mammoth lower classes.

공인제도 혁파 후 분원 공인의 분화와 직업 · 자본의 변화(1895~1910)

“Bun’weon”(Branch office) was a governmental office established in the 15SUPth/SUP century to produce porcelain items needed for the royal family. After the country was opened to the outer world, the government transferred the operational rights of the Bun’weon office to the Gong’in figures in 1883, and renamed the office to “Bun’weon Jagi Gongso(分院磁器貢所).” The Gong’in figures operated this office while producing porcelain items, and submitted the products to the royal family while also selling some of them to the market.BR But when the centuries-old Gong’in system was abolished in 1895 and the Bun’weon Jagi Gongso office was also shut down by the Gabo-year reforms, the Gong’in figures who had been attached to the office also lost their status as Gong’in, and were summarily dismissed. Later, the porcelain business previously overseen by the Bun’weon office was transformed into the form of a “Beonja(Producing Porcelain) Company,” and 5 Gong’in figures who had earlier served the Bun’weon office was newly enlisted as employees of the new Beonja Company. In the meantime, some other people also decided to remain at Bun’weon to take another shot at their old job, but some of them left for good, to seek for new opportunities. People who ‘stayed’ were in many cases land owners or people with some capital, with higher social status than other ordinary people, while people who ‘left’ were the ones who had been stuck in disadvantageous conditions.BR In retrospect, most of the former Gong’in figures remained at Bun’weon, engaging themselves in both porcelain and agricultural production, as many of them had lands of their own. Meanwhile, a man named Kim Ik-jun, who was one of the Gong’in figures that left the Bun’weon office and also happened to be a wealthy capitalist, set up his own pawnshop and a store in places inside the Capital city which were frequented by the citizens. But people with lesser cash had to float around the harbors and ports.BR These Bun’weon Gong’in figures were rather wealthy, as they were required to invest thousands Nyang of money when they enlisted themselves in the Bun’weon activities. After they lost their status as Gong’in, they remained at the Bun’weon office and invested their own money in porcelain production, paying for costs of personnel and material. Some of them even set up a new Japanese-style kiln to produce colored porcelain, or applied local “Mangdongyo” technique to their own operations. But certain challenges -from the competition with imported foreign houseware and the Japanese porcelain productions- forced the Bun’weon business to decline. Producers with lesser capital eventually succumbed to accumulating deficits, and in the end went bankrupt while being consumed by loansharking. BR After the Gong’in system was abolished in 1895, changes in the people’s occupations and divergence of their capital reflected their social status, personal capabilities, and range of their intra-personnel relationships. The fact that economic power turned out to have been important in that process shows us the reality of the Joseon society which was already experiencing Capitalism.

Taxation of Swedish Firm Owners: The Great Reversal from the 1970s to the 2010s

Abstract By the late 1960s, real effective taxation of income from individual firm ownership in Sweden approached 100 percent. A series of tax reforms has reversed this situation. This paper (1) elucidates the thinking behind the vision of creating a largely market-based system without wealthy capitalists and how that vision guided tax policy; (2) outlines and evaluates the changes in the tax code since the late 1970s, their empirical and intellectual basis, and their implications for the taxation of individual firm ownership; and (3) compares the size of the largest individual wealth holdings in the mid-1960s to their equivalents in the 2010s and discusses how the general public’s views have changed regarding sizeable income streams and wealth from business activity. Today, the tax code favors already wealthy individuals, while high labor income taxation combined with a high valuation of existing assets renders wealth accumulation difficult for persons with no initial wealth.

Artificial Intelligence and Urbanization: The Rise of the Elysium City

Abstract. From ancient times, Greek religion introduced Elysium as a heavenly place to which admission was exclusively reserved for mortals related to gods, heroes, and those blessed by gods. We argue that the rise of artificial intelligence technology will lead to the creation of Elysium cities. Elysium cities agents will be technologists, technocrats, intelligent machines, and wealthy capitalists. These cities will be the first embracers of the artificial intelligence technology and will do so by incorporating five capabilities: physical, intellectual, information, governance, and socio-economic. As early adopters, these cities will acquire tremendous political and economic power and will turn into self-governing city-states. During the early stages of the AI revolution, these Elysium cities will shed millions of unemployed via a process we call De-tech Migration. De-tech cities will be the recipients of the labor migration from the Elysium cities and will rapidly become and remain impoverished. This article presents key policy suggestions that can be adopted by companies and governments to avoid potential decline and find new pathways towards growth and prosperity in an artificial intelligence economy. Keywords. Artificial intelligence, Urbanization, Smart Cities. JEL. A14.

The (Perceived) Vanishing of the Leisure Class: Views from Weber, Veblen, and Piketty

The French economist Thomas Piketty has recently provided extensive documentation that economic inequality in the most developed countries has grown and will continue to grow. Relying on data primarily from Britain, France--and to a lesser extent, the United States and Germany-- Piketty asserts that this trend will continue, barring events such as major wars or internal revolutions. Weber saw capitalism in much the same terms, emphasizing slow capital accumulation over relatively long periods of time, which brought distinction and legitimacy to the holder of large amounts of capital. Veblen focused on the conspicuous display of this legitimation. However, in light of the extent of global capital Piketty’s analysis provides clues to reasons for the emergence of global flows of capital combined with the perceived physical disappearance of wealthy capitalists themselves.

The Corporation’s Place in Society

The vast majority of economic activity is now organized through corporations. The public corporation is usurping the state’s role as the most important institution of wealthy capitalist societies. Across the developed world, there is increasing convergence on the shareholder-owned corporation as the primary vehicle for creating wealth. Yet nothing like this degree of convergence has occurred in answering the fundamental questions of corporate capitalism: What role do corporations serve? What is the goal of corporate law? What should corporate managers do? Discussion of these questions is as old as the institutions involved.

2013 Annual Global Tax Competitiveness Ranking: Corporate Tax Policy at a Glance

Canada is losing its appeal as a destination for business investment. Its ability to compete against other countries for investment slipped considerably this year in our global tax competitiveness ranking, down six spots among OECD countries, and down 11 spots among the 90 countries. While many governments around the world responded to the fallout of the global recession by significantly reducing corporate tax rates, certain policy moves in Canada have us headed in the opposite direction. Canada is in danger of repelling business investment, which can only worsen current economic and fiscal challenges.Canada’s fading advantage is the result of recent anti-competitive provincial tax policies that increased the cost of investment. This includes, most notably, British Columbia’s decision to reverse the harmonization of its provincial sales tax with the federal GST, as well as recent corporate income tax rate hikes in B.C. and New Brunswick.When economic calamity strikes, and workers and their families feel the pain of lost jobs and lost wealth, politicians know they can score populist points by targeting the corporate sector. After all, corporations do not vote and they do not have a human face. News stories about major multinational corporations using tax-avoidance techniques to minimize their tax bills, only feed the populism, leaving voters believing that companies are getting away without paying a “fair share” of taxes. But when the corporate sector is targeted, it is not only supposedly wealthy capitalists who pay, but also employees, through lost wages and jobs, and working-class people who have a stake in companies through pension plans and mutual funds. On a larger scale, it is the economy that suffers. The same profit-maximizing imperative that leads companies to seek ways to reduce their tax liabilities also motivates firms to redirect investment to competing, lower-tax jurisdictions. Populist policies aimed at squeezing businesses may win votes in the short term, but they come at significant costs.Yet, there are politicians calling for still higher taxes on corporations. The federal Opposition leader, Thomas Mulcair, of the New Democratic Party, wants to raise the federal corporate income tax rate from 15 to 22 per cent, making Canada’s combined federal-provincial tax rate (over 33 per cent) one of the highest in the world. Such proposals promise an easy source of new revenue at no cost to individual taxpayers. In reality, the cost to taxpayers is lost competitiveness, resulting in a shrinking corporate tax base that will only leave Canadians with a weaker economy, profit-shifting to other countries leading to little additional revenue available to Canadian governments and, inevitably, a larger tax burden to bear individually.The right direction for Canada is the other way: improving tax competitiveness and enhancing tax neutrality by broadening the corporate tax base to further fund rate reduction. The harmonization of provincial sales taxes with the federal GST, in those provinces that have yet to do so, would substantially improve Canada’s tax competitiveness, as would the elimination of economically inefficient tax breaks for favoured business activities. And Canadian governments should continue to lower corporate taxes across the board, whenever possible. Canada’s edge as a globally competitive investment destination has been hard won over many years. It would be a pity to now see it squandered by reckless populist politics.

The Indian bourgeoisie: a political history of the Indian capitalist class in the early twentieth century

The complex and hard-fought movement for political freedom in India coincided with the rise of a wealthy capitalist class of Indian industrialists who had profited under British rule. By 1947, these prominent businessmen had forged a partnership with the socialist-led Indian National Congress, and supported Jawaharlal Nehru's implementation of a centrally-planned economy. In this political history of modern India, David Lockwood traces the roots of this capitalist class, concentrated in Bombay, Calcutta and the west Bengal coal mining region, and examines British economic policy in the nineteenth century. Indian capitalists, such as J.R.D Tata of Tata Steel, established powerful relationships with domestic governments throughout the period, holding indigenous industrial conferences and supporting the swadeshi movement which aimed to promote Indian-manufactured goods. The Indian Bourgeoisie is a unique and important contribution to the lively debate on the role of India's capitalists during the Raj and throughout the early years of independence.

<i>Miss Mend</i> (review)

Reviewed by: Miss Mend Dan Erdman (bio) Miss Mend; DVD DISTRIBUTED BY Flicker Alley, 2009 Standard accounts of the early days of Soviet cinema tend, with some justification, to downplay the influence of studios in favor of directors, but spare a thought for the Mezhrabpom-Rus group. Formed in the aftermath of the civil war, at which point the Russian film industry was pathetically dependent on imports of titles, equipment, and even raw film stock, this concern was the result of an alliance between German-based left-wing relief agency International Workers' Aid (IWA) and the Rus studio, one of the few private firms to more or less successfully weather the post-1917 upheavals. 1 Despite the political designs of the IWA (to say nothing of the Soviet state, which early on realized the importance of cinema as a possible instrument of propaganda) and its involvement with the early work of Vsevolod Pudovkin, Mezhrabpom-Rus's films were baldly commercial; according to Denise Youngblood's study of popular Soviet cinema of the 1920s, the studio "turned out unabashedly 'bourgeois' films—films with the dash and glamour which had characterized the pre-revolutionary cinema." 2 Not every Soviet film was a dense work of avant-garde leftist agitprop. Exhibitors' reliance on imports meant that the Russian audience was exposed to the same genre exercises as the rest of the international filmgoing public. "The first films to enter the U.S.S.R. . . . were also westerns and serials, because these were generally regarded as innocent of any harmful thematic content, depending as they did largely upon action, which the Russian public adored." 3 Even Battleship Potemkin (Bronyenosyets Potyomkin; 1925), despite wild success abroad (particularly in Germany), was something of a flop at home; Russian audiences saved their enthusiasm (and their rubles) for Buster Keaton and Douglas Fairbanks. 4 Desperate as it was to generate some capital, it should come as no surprise that at least some elements of the Soviet film industry were only too happy to give the public what it wanted. One of Mezhrabpom-Rus's more interesting attempts to do just that was Miss Mend (1926), based on the successful Mess Mend series of short pulp novels (allegedly written by American "Jim Dollar" but actually authored by Russian Marietta Shaginan) and featuring plenty of the domestic audience's beloved action. In the American city of Littletown, Vivian Mend (Natalya Glan) works as a typist at a cork factory in the midst of a bitter strike. An agent provocateur starts a riot between the picketing workers and police, and Vivian finds herself caught in the middle, along with Barnet (director Boris Barnet), Vogel (Vladimir Fogel), and Tom (Igor Ilyinsky), three journalists sent to cover the strike for the local [End Page 115] paper, with instructions to focus on the "heroic policemen." After several minutes of havoc, a passing motorist helps Vivian flee the scene; he introduces himself as "Engineer Johnson" (Ivan Koval-Samborsky) and escorts her to her apartment, making a good impression on her young orphaned nephew, John, in the process. The seeds of a romance appear to have been planted, but only after he leaves Vivian at home is it revealed that "Johnson" is really Arthur Stern, son of a wealthy capitalist. Later that night, while relaxing in his extravagantly furnished mansion, Arthur receives word that his father has been murdered by Bolsheviks while on a trip abroad. Or so he is led to believe. His father has actually been kidnapped by Chiche, the head of a shadowy international anti-Communist conspiracy known only as the Organization. Having convinced the public of the elder Stern's death, Chiche has sedated his hostage and brought his remains back to Littletown in a coffin. But at the last minute, Stern is able to pin a note to the outside of the box; this note is found by Tom, waiting at the dock to cover the arrival of Stern's body. A sailor in Chiche's employ notices this; after dulling Tom's already none-too-sharp senses with several rounds of drink at a local tavern, the crook tries to steal the incriminating note. A brawl ensues, and despite the...

Antisemitism: A Very Short Introduction

Oxford University Press's ‘Very Short Introduction’ series now has more than one hundred titles surveying a wide variety of fields. A large minority are on historical topics, and these are likely to be read with interest by students writing essays, and, indeed, by their lecturers writing their classroom presentations. Anti-Semitism—hostility to Jews—has been described as ‘the world's oldest hatred’, and, in one guise or another, seems strangely ineradicable. Chiefly because of the Holocaust—which of course colours everything concerned with this topic—it has been examined and discussed by innumerable historians and other scholars. It is normal to divide anti-Semitism into two components: theological hostility to the Jews, which comprised its basis in medieval and early modern Europe; and racial and ultra-nationalist hostility, which underpinned much of the ideology of modern anti-Semitism, especially in the extreme and eventually genocidal form it took in continental Europe from about 1870 until 1945. While this appears straightforward, there were also innumerable departures from these archetypes, ranging from the social anti-Semitism found among many élite groups in America and elsewhere prior to 1945, to the left-wing anti-Semitism and anti-Zionism so prominent in the Soviet Union, and among a visible component of the western left in recent decades. In general, Steven Beller has produced a highly competent, well-informed, and interesting work, which is fully appreciative of the many faces worn by anti-Semitism. Wisely, and perhaps bravely, he does not shy away from the fact that the highly visible and indisputable over-representation of Jews among continental Europe's wealthy capitalists, successful professionals, significant cultural modernists, and Marxist revolutionaries in the period 1870–1945 was itself a powerful factor in the popularity of anti-Semitic ideologies and movements; anti-Semitism was less extreme and less virulent in areas, such as the English-speaking world, where Jews did not exhibit these characteristics in the same striking and visible way. Inevitably, Beller attempts to explain the diabolical nature of the Nazi Holocaust which, in a subtle discussion, he attributes to ‘a particular German type of modernity’ (p. 95). He rightly distinguishes this—if, indeed, it existed—from ‘Western liberal democratic capitalist modernity’ (p. 96). Nevertheless, it is arguable that the murderous totality of Nazi anti-Semitism was primarily centred in Adolf Hitler himself: it is almost inconceivable that the Holocaust would have occurred had Hitler not become German dictator in 1933, and no one anywhere imagined that it would.

The Place of Inequality: Non-Participation in the American Polity

The recent history of political participation in the United States poses a particularly striking puzzle. Over the past several decades, the United States has stood out among wealthy capitalist democracies for its high and ris ing levels of economic inequality.1 Yet at the same time, the United States has continued to be distinguished by widespread political quiescence, far greater political engagement by the rich than the poor, and, until recently, the absence of even moderately redistributive policies.2 Students of capitalism and democ racy, from Karl Marx to T.H. Marshall to Milton Friedman, have long sug gested that rising inequalities would motivate the disadvantaged to exercise their political rights to seek economic redistribution.3 Yet this prediction seems to falter badly in the United States today.

Editorial for 2009

In opening this 2009 volume of Anthropology in Action, it seems important to comment on what are self-consciously interesting times. The first quarter of the year has already witnessed the inauguration of Barack Obama as US president, bitter and destructive bombing campaigns in Gaza, and further financial shocks in the world’s markets, with a seeming domino effect of wealthy capitalist institutions turning to national governments for support. Global and local relations, networks, identities and conflicts have been brought into sharp focus by world events, but anthropology is rarely visible in the news, and anthropologists rarely called upon to comment, despite a wealth of potentially valuable knowledge. Applications of anthropology are becoming gradually more accepted within the academy, but seem to have come only a short distance in terms of public profile or ability to influence national and trans-national policies.

Editor's Comments: Northeast Asian Peace, Energy, and Economy: The North Korean Factor

Northeast Asia consists of China, Japan, the two Koreas, the Russian Far East, and Mongolia. The heavyweight neighbors' spheres of influence (China, Japan, and Russia), along with that of the United States, overlap in Korea. Consequently, the world's heaviest concentration of military and economic capabilities is in Northeast Asia, with the three largest nuclear-weapons states (China, Russia, and the United States), three threshold nuclear-weapons states (North Korea, South Korea, and Japan), and the world's five largest economies (China, South Korea, Japan, the United States, and Russia). In the middle of this precarious and tough neighborhood, divided Korea stands as a strategic pivot. History and geography have consigned Korea to the position of a highly contested strategic crossroads, the site for over a century of recurrent collisions between great-power interests. Consequently, many view Northeast Asia as primed more for international conflict than for international peace, because this region replicates the global North-South divide with its sharp divergence between wealthy capitalist countries (the United States, Japan, and South Korea) and poor socialist or transitional countries (China, Russia, and North Korea).North Korean Review, however, is based on the premise that these countries will work together as they are increasingly interdependent in all major areas of national interest-national security, energy supply, and economic welfare. First, they have no other choice but to resolve the North Korean nuclear standoff through peaceful negotiations, because a nuclear North Korea poses a greater threat than that posed by the Middle East. Second, the Northeast Asian countries are likely to cooperate for their national energy security because this region is home for major energy consumers such as China, as well as major energy producers such as Russia. The United States is likely to support such a region's cooperation because the United States does not want these countries to depend on the Middle East oil too much. Third, scholars argue that Northeast Asia is a region with every possibility of becoming the best trading bloc in the future, because of Japanese capital and technology, Chinese labor, Russian natural resources, and the Korean work ethic. In addition, the Northeast Asian countries and the United States have already had close economic ties for many years and have been increasingly interdependent economically. These factors are likely to eventually compel the United States, China, Japan, Russia, and South Korea to collaborate on their security, energy, and economy, even if they have differences on these issues.NKR has played a defining role in the field of studies on the relations between North Korea and other countries since its Fall 2005 inaugural issue. The purpose of the journal is to provide the world with opportunities for improved understanding of North Korean relations with the United States and other countries. This international journal publishes the very best policy-oriented and multidisciplinary work on relations between North Korea and other countries. Economics, business, culture, history, politics, international relations, and other academic disciplines are represented. Who have been readers of NKR? Business executives, policy makers, diplomats, researchers, professors, students, and others who have an interest in Northeast Asian peace, energy supply, and economic welfare. It is strongly recommended that all academic and public libraries subscribe in order to provide relevant information about Northeast Asian peace and economic prosperity. Full-text articles of NKR are not available online through any library database.Finally, it gives me great pleasure to introduce briefly a wide variety of interesting articles contained in this issue of NKR. …

Time for another revolution? The Flexner Report in historic context, reflections on our profession

The Flexner Report, published in the early 20th century, turned medicine toward a firm scientific foundation and raised standards of education and practice. This corrected many of the profession's deficiencies present at the turn of the century such that medicine became capable of improving the health of humanity. While the focus of education on the sciences suited the needs of the era, the pendulum may have swung too far. As medical schools clamored for funding from wealthy capitalists to achieve new standards, they lost autonomy and adopted unsaid values that were possibly a danger to humanity. This dynamic may have led to the manifestation of medicine's dark history marked by the eugenics movement and the Tuskegee Project. This history demonstrates how medicine can impact humanity detrimentally when the broader scope of the humanities and arts is lost. In spite of this understanding, medical education has been dogmatic and resistant to change. The paper ends with a description of the crisis in modern medicine that is on par with the problems it faced in the early 1900s and concludes that it is indeed time for another revolution.

Rethinking Cosmopolitanism in Nadine Gordimer's The Conservationist

Gordimer's The Conservationist is a critique of white liberalism in South Africa during the height of the apartheid era, the early 1970s. The novel's protagonist, a wealthy capitalist, takes on the identity of an environmentalist when he buys a farm as a weekend get-away and unexpectedly develops a strong attachment to the land. Gordimer uses the land as a metaphor for history and national identity, exploring her protagonist's racial anxieties as well as his impatience with his liberal social milieu. Gordimer maps through the ideas of conservationism a cosmopolitan ethic that anticipates the breakdown of the rigid social and spatial boundaries set up by apartheid. Cosmopolitanism as a theory has interrogated the idea of the local and the extent to which the local remains apart from the influences of internationalism. The local for Gordimer has several overlapping identities that intimate competing historical narratives through separate claims on the land. Cosmopolitanism is useful in examining Gordimer's historical premise as it foregrounds the point of intersection of differently located views of the world.

Veto players, electoral incentives and international commitments: The impact of domestic institutions on intergovernmental organization membership

Abstract. The conventional literature on international cooperation in general, and intergovernmental organization membership in particular, depicts a regular, positive relationship between wealthy capitalist democracies and participation in international institutions. While empirical evidence supports this assertion, it says little about the mechanisms, and the accompanying variation among them, by which states enter into international institutions. This study distinguishes industrialized democracies along two dimensions: the nature of their constitutional structures and the organization of their electoral politics. Variations in these features produce variations in the institutional constraints and electoral incentives that matter in determining state participation in international organizations. Results of a pooled cross‐sectional time series analysis of 23 democracies in 1981 and 1992 indicate that the structure of governing institutions and the nature of electoral systems account for much of the variation in intergovernmental organization membership. This study concludes that domestic institutions matter in determining international cooperation through international organizations – a novel insight overlooked by most international relations theories.

The Development of Small Mines in Nakatsugawa Village, Chichibu, in the Edo Period

This study historically examines regional factors of small mines of Nakatsugawa in Chichibu in the Edo period through analyses of the developers, techniques, labor force, developmental funds, and the villagers' involvement in the exploitation.Mines in Nakatsugawa were exploited in different periods when the national demand for mine resources was large. Notable developments were concentrated in the late 18th century and in the late Edo era (1825-1859).The exploitation of the mines in the late 18th century was carried out as a joint business by various individuals. Most of them were influential Chichibu farmers and Edo merchants without mining skills. Technical experts and workers were supplied from other mines, and were already available through the diffusion of techniques by the mid-18th century. When developers were short of funds, they sought a few wealthy capitalists who could support their projects. Most capitalists as well as developers were from Edo. Some influential farmers became administrative staff of the mine busiess. Other villagers also played major roles in the mine developments by selling lumber or dirt and leasing land for exploitation.Capitalists began to develop their own mines in 1825. Technical experts and workers were from other mines as before. Capitalists in the late Edo period were merchants who also managed other mines. They sometimes brought experts and workers from one of those mines. In this period, the yield of minerals was stable. Then profit from mines increased and bacame important for villagers. On the other hand, the villagers thought that they did not receive a reasonable share, even though the capitalists made much profit from the expansion of the exploitation, which caused the devastation of the villagers' woodland.The strong relation of Nakatsugawa Village to Edo was one of the important factors of the exploitation of small mines. The role of villagers in the development was also important. The villagers' involvement in the mines included their participation in the administration and supplying of labor, land, and goods.

Capitalist Response to State Intervention: Theories of the State and Political Finance in the New Deal

Three theories of the -corporate liberal, hegemonic competition, and state autonomy offer different explanations for capitalist involvement in the New Deal coalition. I evaluate these three theoretical explanations by examining the contributions to the U.S. presidential campaign of 1936 made by three segments of the capitalist class: members of wealthy capitalist families, elites, and members of the of interlocking directors. Find that although one out of three capitalists contributed to the presidential campaign, only one out of 12 contributed to the Democratic party. Members of the inner circle and elites were more likely to contribute to the Republican party than were members of capitalist families. Members of southern and Jewish capitalist families were among the major contributors to the Democratic party. Finally, elites from regulated industries were less likely than were those from other industries to contribute to the Republican party. These results provide some confirmation of state autonomy theory and partial confirmation of certain elements of corporate liberal theory. However, they suggest modification of the hegemonic competition theory.

Class Hegemony and Political Finance: Presidential Campaign Contributions of Wealthy Capitalist Families

This research examines the campaign contributions of 629 members of 100 wealthy capitalist families to the presidential campaign of 1972, the last campaign conducted without any limits on individual contributions. The analysis reveals that roughly half of the members of these families contributed little or nothing to this presidential campaign, but other family members were often major contributors. Family members who were most visible as corporate directors or foundation trustees or who were listed in Who's Who in America contributed the most to this campaign. In addition, wealthy entrepreneurs contributed more to the campaign than members of subsequent generations of wealthy capitalist families. Members of wealthy Jewish and Southern families contributed slightly more to the Republican party than the Democratic party, but they contributed much more to the Democratic party than did the members of other wealthy capitalist families. In addition, the members offamilies that were major stockholders in oil companies or companies with large government contacts contributed more to the campaign than did the members of other wealthy capitalist families. Conversely, the members of families that were major stockholders in media companies contributed relatively little to this campaign.