Institutional Adjustment,Instrumental Efficiency,and Reasonable Value

Abstract:

In this paper, we apply Celso Furtado’s vision of the process of economic development to the United States’ economy. Furtado was a creator of Latin American structuralism and continues to be one of the region’s most influential economists. Yet, he is little known in the English literature. As we argue, there are few academics who offer a theoretical framework capable of robustly evaluating the current trajectory of U.S. economic development with the depth of Furtado. Through his analytical lens, and with some help from John Maynard Keynes, we examine the present reality, as well as the more remote economic history of the US. We argue that, seen through Furtado’s lens, the US can now be accurately described as an under-developing economy.     

Celso Furtado and the Myth of Economic Development: Rethinking Development from Exile

ABSTRACT

This article introduces two previously unpublished working papers by the Brazilian economist Celso Furtado (1920–2004). Following a brief outline of his life and ideas, the arguments in the two papers are examined, taking into account their context and place in Furtado’s evolving body of work. These two papers represent a crucial turning point in Furtado’s thinking, highlighting his critical perspective on (under)development and laying the basis for four books that he would publish in rapid sequence. We stress Furtado’s growing scepticism with the prospects for international development and global convergence, and his attempt to reimagine the meaning of development and the potential paths to development by peripheral countries. Furtado’s approach to global capitalism in these two papers shed an even more critical light on its structure and evolution than his better-known works from the 1950s. Finally, the contemporary relevance of his ideas is illustrated by reference to their relationship with the current heterodox literature.     

The Origins and Development of the Latin American Structuralist Approach to the Balance of Payments, 1944–1964

The paper offers an historical account of the origins and development of the Latin American structuralist approach to the balance of payments between 1944 and 1964. We focus on the contributions by Raul Prebisch, Celso Furtado and Juan Noyola, all of them members of the United Nations Economic Commission for Latin America (CEPAL) during the 1950s. Prebisch used the foreign trade multiplier concept to distinguish the business cycle mechanisms at the ‘centre’ and at the ‘periphery’. Noyola introduced the notion of external disequilibrium as a feature of the industrialization process. This was further elaborated by Prebisch's formula connecting the relative rates of growth to the ratio of income-elasticities of import. Furtado examined the implications of the external demand constraint for economic growth, an important element of the two-gap models of the 1960s. The main piece of empirical structuralist research was the CEPAL 1957 report about Mexican external disequilibrium elaborated by Furtado and Noyola, not published at the time; we discuss that report in the context of the Mexican devaluation of 1954.     

Multinational firms,peripheral industrialisation and the recovery of national decision centres: the contribution of Celso Furtado

Abstract

This essay examines the contribution of Furtado to the understanding of the peripheral industrialisation process. His analysis of the role of industrialisation in the development policy of peripheral countries is based on criticism of the international division of labour that has been presented by CEPAL (Comisión Económica para América Latina). Furtado's study of the new dependence situations of the periphery is based mainly on the expansion of multinational firms, the vehicle of the global diffusion of the industrial civilisation. In order to escape industrialised underdevelopment, Furtado advocates recovering the national decision centres in order to better direct technology within the periphery.     

马克思的世界观与《资本论》的方法论

在一个语言模式、话语体系、文化形态越来越决定资源配置、利益机制、发展方向的时代,中国的发展不仅需要科学发展观来引领,而且需要科学历史观和科学世界观来提升。在这里,科学的基本含义是以人的批判、探索、发现、创造等活动为基本内容的社会实践,"以人为本"的基本含义是以全人类、或大多数人或人民大众的利益为本。马克思的世界观与《资本论》的方法论本质上是彻底的"以人为本"的世界观和方法论。     

Constructing Projects of National Development in Latin America?

Abstract

This article analyzes technology-related development in Latin America from a heterodox perspective based in Institutionalist and Structuralist Economics. Since the 1970s, the lack of systematic national projects designed to institutionalize endogenous innovation capabilities in the region has constituted a critical structural impediment to development. Eschewing the creation of public goods, most nations in Latin America abandoned important incipient efforts to develop technological autonomy as undertaken during the state-led industrialization period. This article highlights poorly understood but relatively successful aspects of the import substitution industrialization (ISI) strategy on technological advancement in the state-led era. Recently, neoliberalism's monolithic grip has been loosened. Brazil has undergone somewhat of a paradigmatic shift while advancing toward the creation of a national innovation system (NIS), thereby offering important lessons for other Latin American nations. Mexico, in contrast, shows no indication of attaining autonomous technological capabilities. The attainment of such capabilities in highly industrialized countries, and fast developing Asian nations, partially resulted from the construction of a NIS. The creation of a NIS embodies an interactive and interdependent process: it entails the joint and combined participation of scientists and others involved in research and development (R&D) activities in (1) the public and private sectors and (2) universities. These elements combine with agents of the state empowered to finance and coordinate the construction and maintenance of the NIS. The construction of a NIS has induced “increasing returns” in production processes. As Furtado emphasized, supply-enhancing technological capacity must be met by inclusive demand-enhancing policies that embed the vast underlying population in the growth process.     

Entrepreneur’s creativity and firm-level innovation performance: bricolage as a mediator

Prior literature focuses on the direct influence of entrepreneur’s creativity on firm-level innovation performance, but it ignores the intermediate mechanism of how. This study examines the role of bricolage in mediating the relationship between entrepreneur’s creativity and innovation performance. We propose that in SMEs, entrepreneur’s creativity can facilitate bricolage, which in turn influences innovation performance. Furthermore, the extent to which entrepreneur’s creativity can influence bricolage depends on firm age. Survey data from 249 SMEs indicate that bricolage functions as a mediator in the relationship between entrepreneur’s creativity and innovation performance. Entrepreneur’s creativity has a stronger effect on bricolage for young firms than for old firms.     

Behavior and cognition of economic actors in evolutionary economics

An evolutionary perspective on the nature of economic activity requires a theory of human behavior and cognition that highlights human creativity and innovativeness, while at the same time recognizing that in many arenas of economic life change is slow and more routine aspects of behavior obtain. It is proposed that Herbert Simon’s conception of human behavior as largely “bounded rational” is capable of suiting both aspects. However, to be able to encompass the enormous advances humans have achieved over the years in their ability to meet a variety of wants, a theory of behavior and cognition suitable for evolutionary economics needs to recognize the evolving cultural context of economic behavior and cognition.     

信息型团队断裂与团队创造力的双通道模型——不同情绪调节策略的作用机理

基于分类加工模型和情绪调节过程模型,探讨信息型团队断裂与团队创造力间关系边界条件和作用机制,构建以情绪调节为调节变量,以知识利用和团队活力为中介变量的研究模型。基于106个研发团队566名成员样本数据对提出的假设进行实证检验,结果表明：在团队成员高认知重评策略下,信息型断裂将促进团队创造力提升,知识利用和团队活力在这一关系中起间接作用;在团队成员高表达抑制策略下,信息型断裂将抑制团队创造力提升,知识利用在这一关系中起间接作用。     

On the relationship between creativity and standardisation: evidence from a qualitative study on the introduction of standardised evaluation framework in recruitment

Creativity and standardisation are two interrelated, but contrasting constructs that are considered as indispensable for successful corporate management. While several scholars have tackled this issue with varying scopes, the literatures examining the impact of standardised framework on creativity in human resource development are scant. To further contribute to this discussion, this study aims to explore the effect of standardised competency evaluation on creative performance based on the qualitative interview data from various stakeholders. The results indicate that standardisation and creativity can be mutually reinforcing under specific conditions. It has been identified that a basic understanding of standardisation can create an adequate space for tolerance to cope with failure and build legitimacy, thus having a more informational rather than controlling effect on individuals’ creative performance. Individuals must be in control of the given standards to access the appropriate resources necessary for creativity to bloom.     

论海明威无法超越的情感体验

在海明威的众多作品中主人公与其父母、生长环境和地域文化有着潜在的联系。研究发现,海明威关注小说主人公及其个体发展过程,揭示了地域和文化因素对其创作的影响,同时也表现出海明威对父亲的过度认同和对母亲的过分对立的内心矛盾情愫。     

人力资本对经济增长推动作用研究

人力资本作为一种潜在的资本能量,在与物资资本相结合的生产过程中,价值创造功能会逐渐的显现出来。但在各国实际的经济发展过程中,人力资本发挥作用的物质载体有很大差异,因此这种能量的发挥也会受到具体条件的限制。本文从理论与实证的角度梳理了部分学者关于人力资本对经济增长推动作用的研究。理论上,人力资本通过非知识效应、收入效应、替代效应以及外部效应等相关作用机制对经济增长会起到推动作用,这得到了大家的一致认同;实证分析研究中,由于学者采用的人力资本存量计量方法的不同,结论也不尽相同;而学者在对我国经济增长的实证研究中显示,人力资本对我国经济增长的推动作用不足。     

Bridging the gap in creative economy and ICT research: a regional analysis in Europe

ABSTRACT

Following Florida’s seminal work on the ‘creative class’ there is a great deal of interest concerning whether creativity, as an input, is important for regional growth. Answering this question requires developing a production framework that can distinguish creativity from other inputs. With data from Europe, this paper integrates the concept of information and communications technology (ICT) and the creative class into a theoretical production function. Findings reveal that not only is there a positive and interactive relationship between creative workers and ICT, but the combination of creative workers and ICT leads to higher levels of GVA growth. Moreover, creative workers were found to have a larger impact on growth in comparison with traditional human capital measures (i.e. graduates). Thus, findings from this research suggest that the creative class should not only pay attention to socio-economic preferences of individuals, but it must include wider social resources, such as ICT.     

Post-Keynesian Economic Policies: The Case of Sweden

This paper attempts to present the basic features that would define a model of behavior suited to an institutional and post-Keynesian approach. To facilitate explanation, human behavior is divided into three phases: motivation, cognition and reasoning and decision-making. Motivation appears as a process directed toward the satisfaction of a complex structure of various needs and wants. The role of emotions and the social and cognitive aspects of motivation are recognized. Moreover, it is also recognized that human beings have limited cognitive and rational capacities, and it is accepted that they are potentially creative. Partly as a consequence of that, cognition becomes a social act and knowledge of reality is subject to fundamental uncertainty. Finally, human rationality (or intelligence) is associated with a search for good solutions, and it includes elements of procedural rationality, creativity and emotional rationality. The role of habits and institutions in all these phases is stressed.     

创业团队风险决策的修正效应与影响因素

创业决策具有高的风险性,如何提高创业团队风险决策的质量是一个值得探讨的问题。提出了创业团队风险决策的修正效应,以此衡量决策的过程质量,通过对46支大学生创业团队的实证研究,探究了群体凝聚力与决策过程中的成员参与度对团队风险决策修正效应的影响作用。结果显示:团队的任务凝聚力对团队决策的修正效应起到了显著的正向影响作用,成员参与度是两者关系的重要调节因素,在高的成员参与度下,任务凝聚力对团队决策的修正效应具有更大的促进作用;而团队的人际凝聚力对团队决策的修正效应没有显著影响作用。在此基础上,对提高创业团队风险决策的质量提出了相应的管理建议。     

中国经济扭曲的表现及形成机制:一个奥地利学派的角度

中国经济发展过程中存在某种形式的扭曲已是不争的事实,既往发展模式的不可持续性也已逐渐显现,但对造成该扭曲的深层次原因在理论上仍然存在分歧.从奥地利学派的角度吸取合理的部分可以更深刻地认识中国经济发展历程.中国经济扭曲最突出的表现是在城市化过程中,政府主导式发展制约了全体公民共同参与,而在发展思路上则过于强调需求管理的短期政策,忽视了供给在长期经济发展中的核心作用,经济的健康发展应是一个分工和专业化不断深化的过程.     

Paternalistic Capitalism

Brazil’s political-economic structure has rapidly evolved over the past decade, shedding its shallow policy alignment with neoliberalism of the 1990s. Brazil’s large, diversified industrial base was painfully constructed over the course of the twentieth century. A major and sustained political realignment, which began in 2003, has resulted in two essential thrusts in development policy: (i) a “growth with equity” strategy that has dramatically reduced poverty and inequality; and (ii) a state-led “industrial policy” designed to upgrade manufacturing and direct the accumulation process toward specific sectors, highlighting and consolidating the National Innovation System (NIS). Nonetheless, as a result of the commodity boom that swept through Latin America, Brazil’s natural resource sector achieved outsized growth from 2002 to 2012. One result has been a shift toward resource intensive activities and a broad opening to low-cost Chinese manufactures. Utilizing an institutionalist framework and method, this article analyzes the cohesion of the NIS and the emergence of the “deindustrialization” debate. Also, it assesses the instrumental nature of the “growth with equity” strategy. The article hypothesizes the viability of an endogenous “neo-developmentalist” strategy, while acknowledging the emergence of fundamental exogenous forces and structural ceremonial/institutional factors that have impeded the consolidation of a Brazilian social structure of accumulation.     

"北京共识":发展价值观的新境界

以人为本,促进经济社会和人的全面发展,是"北京共识"所体现的发展价值观.它继承了先辈经济学家们重视发展伦理价值的优秀思想传统,摈弃了"华盛顿共识",即新自由主义"以资本为中心"的西方发展价值观.它以实现最广大人民利益为出发点和归宿点,把人的全面发展确立为发展的终极价值,是马克思主义价值观的集中体现.它运用马克思主义的立场、观点和方法,重新回答了在21世纪中国如何更好地发展的问题,凝聚着中国人民的创造精神、社会理想和独特智慧,拓展了马克思主义发展价值观的新境界.     

差异化组织变革情境下如何让员工更有创造力——基于创造力交互理论的组态分析

从创造力交互理论出发,以中国企业研发岗位员工为研究样本,运用fsQCA方法对企业中激发员工创造力的个体、领导、组织等多层面影响因素进行组态分析。探讨不同组织变革情境下组织多层面因素在员工高创造力产生过程中的差异机制,发现两种组织变革情境下3种激发员工创造力的路径模式,即激进性变革情境下的激情驱动模式和领导驱动模式,以及渐进性变革情境下的类亲情驱动模式。组织管理者可以根据不同的变革情境选择合适的管理方法,激发创新以推进变革进程。     

中国的工业化进程：阶段、特征与前景

中国成为一个工业化国家,是实现中华民族伟大复兴的必然要求,是实现＂中国梦＂的一个重要经济内涵。经过改革开放30多年的快速发展,中国工业化已经进入到工业化后期。中国工业化进程的突出特征是,十几亿人口的大国工业化、快速推进的工业化、区域发展极不平衡的工业化、低成本的出口导向工业化,这在人类历史上是前所未有的。中国工业化前景是光明的,按照正常发展,中国最晚将在2025年到2030年实现工业化,但中国工业化进程未必会一帆风顺,金融危机后,世界工业化进程中出现的＂第三次工业革命＂和制造业服务化的重大趋势,加大了中国工业化进程顺利推进的难度,增加了中国工业化战略调整的必要性。