Liberalism,nationalism, and self-determination: Ludwig von Mises’s Nation,State, Economy after 100 years

This year, 2019, marks the 100th anniversary of the publication of Ludwig von Mises’s lesser known book, Nation, State, and Economy, which appeared in the immediate aftermath of the First World War. One of its leading themes was to trace out the interactions between language, nationalism, and the emergence of the political movement for national self-determination. On this basis, Mises formulated an explanation of nationalist imperialism within parts of, especially, Central and Eastern Europe where there were territories with overlapping linguistic or ethnic groups. Out of this came his proposed answer to national and ethnic conflicts through a system of plebiscites for a greater degree of individual self-determination to minimize intergroup tensions between and within nation-states. His proposal is then applied for an analysis of the recent international controversies over the Russian annexation of Crimea and the United Kingdom’s vote to secede from the European Union.

     

Social and family load of Alzheimer’s disease

As the World Health Organization reports, mental illnesses have a serious impact on more than 25% of all population people worldwide at some time during their lives. Mental illnesses are universal; they affect people of any age, both women and men, the rich and the poor, no matter from which urban and rural environment they come from. Mental illnesses have an enormous economic effect on societies and on the quality of people’s life, including their families. The purpose of this study is to describe social and economic aspects of Alzheimer’s disease (AD) with respect to the early diagnosis. The authors provide an analysis of costs of treatment and care in the selected countries where the data from the available studies are recalculated into comparable quantities. Furthermore, the authors analyse aspects and possibilities of care for patients with AD in the informal (home) environment in compliance with individual phases of this disease. In the article, the method of research of available sources focusing on social and economic issues of AD is used. In order to compare costs of treatment and care of the AD patients, the Qualitative Comparative Analysis Method is exploited. The analyses have shown that the metric systems for monitoring the direct and indirect costs for the individual phases of AD are different.     

Veblen’s Imperial Germany and the Industrialization of Latin America

Veblen’s Imperial Germany is a theory of development and industrialization, and the role the business enterprise played in these processes. Through a reassessment of Veblen’s Imperial Germany, this paper explores the main aspects that Veblen considered about the industrialization of England and Germany, deriving theoretical implications for the preconditions of a successful industrialization and development, based on an evolutionary Institutional perspective. Veblen’s analysis is then used to analyze the current state of the industrialization of Latin America, evaluating the last two decades since the 1990s, and comparing the orthodox approach, the neostructural view and the Veblenian perspective, arguing for the validity of a policy framework not reduced only to targeted protectionism but emphasizing the necessity of generating the institutional preconditions suggested by Veblen in his seminal work.     

Bolivia’s Institutional Transformation: Contact Zones,Social Movements,and the Emergence of an Ethnic Class Consciousness

Over the past two decades, development economics has experienced a shift in focus from standard neoclassical analysis to institutions. While studying economic institutions is indeed important, evaluating their transformation and embeddedness is equally crucial for understanding and improving human wellbeing, especially in countries where market institutions are not fully developed. With that perspective in mind, we consider the importance of culture in the evolution of institutions in Bolivia by combining the concept of contact zones with old institutional economics (OIE). Contact zones refer to daily interactions in social spaces where culture and class meet and negotiate with each other. The contact zone between Bolivians and post-WWII development policies surfaced as an Andean collective memory, allowing for a possibility of social and political autonomy through the creation of an alternative to development, El Buen Vivir.     

America’s flawed paradigm: macroeconomic causes of the financial crisis and great recession

This paper traces the roots of the financial crisis and Great Recession to a flawed U.S. macroeconomic paradigm that was adopted around 1980 with the triumph of neoliberal economics. One flaw concerns the growth model. A second flaw concerns the model of global economic engagement that created a triple economic hemorrhage of spending on imports, manufacturing job losses, and off-shoring of investment. The new growth model hollowed out the economy and relied on growing debt and asset price inflation. As the process deepened the economy needed ever larger bubbles to grow. Financial deregulation and excess kept the model going longer than expected, but it meant the economy experienced a financial crash and deeper collapse when the contradictions finally surfaced. The United States needs a new economic paradigm and a new growth model, but as yet this challenge has received little attention from policymakers or economists.     

Social Capital and Women’s Labor Force Participation in Chile

ABSTRACT

Using data from Chile, this study analyzes the relationship between different forms of social capital and women’s labor force participation, accounting for both endogeneity problems and differences among women of different economic strata. First, the results suggest that only some types of social capital are relevant for labor force participation: namely, networks with weaker yet far-reaching connections, including higher-status individuals. There are neither empirical nor theoretical reasons to believe that women have better access to such networks than men. Second, this type of social capital is only relevant for the economic integration of the richest women, failing to increase labor force participation among women of the other 80 percent of households. Thus, this study concludes that policies targeted at women’s economic integration based on the presumption that women have more social capital than men are deeply flawed.     

China’s Reform: History,Logic and Future

This paper is a brief introduction of the core content and basic concepts of the book China’s Reform: History, Logic and Future, and gives answers to questions such as why China’s reform and opening-up policy has achieved great success, why the catch-up mode, extensive and extractive development mode China adopted in the past three decades are no longer sustainable and what China’s market-oriented reforms should aim to achieve in the next stage so that readers can have a profound understanding of China’s reform. Planning ahead, from the perspective of sustainable economic development, China badly needs to transform from factor-driven growth to efficiency-driven and innovation-driven growth, the key to which is to further encourage the liberalization of thought, promote reform and opening-up, unswervingly follow the path of economic liberalization, marketization and privatization, to establish an inclusive modern market system, to allow the market to play a decisive role in resource allocation and the private economy to play a dominant role in the national economy. The market-oriented reform is a complicated project and China is faced with at least three different aspects of reform in some key areas—the main body of private economy, the liberalization of financial market and the marketization of land. Meanwhile, China needs to efficiently balance three elements of good governance, that is, the rule of law, execution and democratic supervision, so as to facilitate the modernization of state governance system and governance capability.     

The Social Psychological Underpinnings of Commons’s Institutional Economics: The Significance of Dewey’s Human Nature and Conduct

The institutional environment of science differs across countries. Its particularities have an impact on productivity of scientific enterprise in terms of both research and teaching. Reform of the system of higher education occupies an important place in programs of catch-up modernization. Attempts to replicate Western institutional arrangements and organizational designs in this area have been undertaken in Russia since the very beginning of economic and political reforms of the 1990s. This paper considers a particular transplant, the Higher School of Economics (HSE) established in 1992, and its subsequent evolution. A structural analysis shows its divergence from the organizational patterns that served as a model. The HSE case is compared with several "representative" Western universities as well as other Russian universities. When explaining divergent patterns between the HSE and the Western counterparts, special attention is paid to the issue of power relationships and their role in the functioning of the scientific organization. The paper aims to contribute to the discussion of "cultural entrepreneurs" and their motivation.     

Stanfield’s Concepts of Social and Political Economy: Introduction to the Special Issue

This paper examines the contributions of James Ronald Stanfield to social and political economy. We start the analysis with Stanfield’s contribution to institution building through his education of PhD students, building a graduate program in political economy, and through the associations of social and political economy. Then we go on to scrutinise his creative developments and applications of the notions of economic surplus and social reproduction. This is followed by his extensive work on Karl Polanyi and the disembedded economy. Finally we explore his path-breaking analysis of the great capitalist restoration, the nurturance gap and love. Stanfield was one of the greatest institutionalists and social economists of the last hundred years, and these four areas of energetic creativity are his prime achievements in the area.     

Post-capitalist Development in Latin America’s Left Turn: Beyond Peronism and the Magical State

The persistence of struggles by popular sectors in the context of the pink tide has generated ongoing debates about how to interpret the region’s left turn. For some, these movements are understood as forming part of a tense but ultimately productive relationship with left governments in the pursuit of post-neoliberal development. For others, it points to potentially irreconcilable political differences, and neoliberal continuities in pink tide governance. In this paper, I address these debates by presenting research on two social movements: Argentina’s recuperated enterprises and Venezuela’s popular economy. Using a Marxian-inspired, situated case study approach, I argue that these movements can be understood as ‘post-capitalist struggles’, that is, attempts to articulate new forms of democracy and cooperation that point beyond capitalism. As such, these movements push beyond the politics of Kirchnerismo and Chavismo that reproduce, albeit in new forms, the limitations to post-capitalist development associated with Peronism and the ‘magical state’. These movements therefore reveal both the region’s potential post-capitalist future, and the barriers that stand against it in the context of the region’s latest phase of development.     

America’s neglected debt to the Dutch,an institutional perspective

America’s early constitutional development owes a good deal to the experience and policies of the Dutch republic. Many of the parallels are direct: In the late 16th century, the Dutch fought a successful war to secede from a major empire. They wrote a declaration of independence and adopted a federal model of Republican governance almost exactly two hundred years before the Americans. Somewhat later, the Dutch republic and its political institutions subsequently inspired and protected enlightenment scholars. Its leading political family and army played a crucial role in curtailing English absolutism in England and in England’s American colonies, and its federal template provided a model for early American institutions.