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on Business, Economic and Financial History |
| By: | Besley, Timothy; Deaton, Angus |
| Keywords: | OUP deal |
| JEL: | J1 N0 |
| Date: | 2024–07–17 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:121230 |
| By: | Tetsuji OKAZAKI; Akira Okubo |
| Abstract: | Japans participation in World War II was a consequence of self-reinforcing cycles of Japans aggressions in East Asia and the economic sanctions imposed on Japan by the Western countries. During the war, the United States blocked transportation of natural resources to Japan from the Great East Asia Co-Prosperity Sphere using its naval power, particularly submarine attacks on Japanese ships. Japan managed to adapt to this blockade strategy of the United States by adopting various measures, including accelerating merchant ship building to maintain the marine shipping capacity and substituting domestic resources for imported raw materials. Although limits were ultimately reached, these measures for adaptation enabled Japan to continue the war for more than three and a half years. |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:cnn:wpaper:24-016e |
| By: | Althoff, Lukas; Reichardt, Hugo |
| Abstract: | This article studies the long-run effects of slavery and restrictive Jim Crow institutions on Black Americans’ economic outcomes. We track individual-level census records of each Black family from 1850 to 1940 and extend our analysis to neighborhood-level outcomes in 2000 and surname-based outcomes in 2023. We show that Black families whose ancestors were enslaved until the Civil War have considerably lower education, income, and wealth than Black families whose ancestors were free before the Civil War. The disparities between the two groups have persisted substantially because most families enslaved until the Civil War lived in states with strict Jim Crow regimes after slavery ended. In a regression discontinuity design based on ancestors’ enslavement locations, we show that Jim Crow institutions sharply reduced Black families’ economic progress in the long run. |
| Keywords: | OUP deal |
| JEL: | N31 N32 H70 J15 J70 O15 P16 |
| Date: | 2024–08–13 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:124335 |
| By: | Bergh, Andreas (Department of Economics, Lund University, and); Bjørnskov, Christian (Department of Economics and Business, Aarhus University, and); Kouba, Luděk (Department of Economics,) |
| Abstract: | The discussion of the growth consequences of socialism has fulminated for a century, sparked off by the Calculation Debate in the 1920s and 30s, and has concerned the performance of the Soviet Union in the 1950s and the mixed development in the 1990s after communism collapsed in Central and Eastern Europe. We aim to inform these debates by providing an empirical assessment of how socialist economies performed across the second half of the 20th century. Using both neighbour comparisons as well as more formal empirical analysis of developing countries that turned socialist after independence, we derive a set of estimates of the degree to which the introduction of a planned socialist economy affects long-run growth and development. All analyses point towards an annual growth decline of approximately two percentage points during the first decade after implementing socialism. |
| Keywords: | Economic growth; Socialism |
| JEL: | O11 O43 P20 |
| Date: | 2024–08–27 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:iuiwop:1499 |
| By: | Ioan-Gheorghe Rotaru (Timotheus Brethren Theological Institute of Bucharest) |
| Abstract: | During the conquest of Jerusalem in 70 AD by the Roman armies, many Jews lost their lives, while others were caught up in the war. The city of Jerusalem was destroyed, and the temple, a masterpiece of art, was looted and burned. The Romans seized holy objects, including the seven-armed chandelier of solid gold, the golden table on which the 12 loaves of bread were placed, the embroidered curtain, the golden vessels and a Torah scroll later donated by the emperors Vespasian and Titus to the temple of the goddess of peace. The triumphal arch erected in the Forum in honor of Titus was decorated with relief reproductions of these trophies and depictions of scenes from the war in which the Jews had been so cruelly defeated. As testimony to this tragic event, there are also medals on which a woman's hands were tied and on which the inscriptions can be read: Iudeaea devicta, i.e., Judaea defeated, and Iudeea capta, i.e. Judaea captive. This article aims to provide an overview of the historical significance and impact of the Roman conquest of Jerusalem in 70 AD. |
| Keywords: | Jews, Christians, Romans, conquest, persecution, rebellion, consequences |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:smo:scmowp:01295 |
| By: | Luis Bauluz; Pawel Bukowski; Mark Fransham; Annie Lee; Margarita Lopez-Forero; Filip Novokmet; Sebastien Breau; Neil Lee; Clément Malgouyres; Moritz Schularick; Gregory Verdugo |
| Abstract: | Working Paper Series no. 957. The rise of economic inequalities in advanced economies has been often linked with the growth of spatial inequalities within countries, yet there is limited comparative research that studies the relationship between national and subnational economic inequality. This paper presents the first systematic attempt to create internationally comparable evidence showing how different countries perform in terms of geographic wage inequalities. We create cross-country comparable measures of spatial wage disparities between and within similarly-defined local labour market areas (LLMAs) for Canada, France, (West) Germany, the UK and the US from the 1970s to 2010s, and assess their contribution to national inequality. By the end of the 2010s, spatial inequalities in LLMA average primary wages are similar in Canada, France, Germany and the UK; the US exhibits the highest degree of spatial inequality. Over the study period, spatial inequalities have nearly doubled in all countries, except for France where spatial inequalities have fallen back to 1970s levels, after an increase in the 1990s. Due to a concomitant increase in within-place inequality, the contribution of places in explaining national wage inequality has remained fairly constant over the 40-year study period, except in the UK where we document a significant increase. Whilst common global social, economic and technological shocks are important drivers of spatial inequality, this variation in levels and trends of spatial inequality opens the way to comparative research exploring the role of national institutions in mediating how global shocks translate into economic disparities between places. |
| Keywords: | Regional Inequality, Wage Inequality, Local Labour Markets |
| JEL: | J3 R1 R23 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:bfr:banfra:957 |
| By: | Rustagi, Devesh (University of Warwick) |
| Abstract: | Does self-governance, a hallmark of democratic societies, foster norms of generalized cooperation? Does this effect persist, and if so, why? I investigate these questions using a natural experiment in Switzerland. In the middle-ages, the absence of an heir resulted in the extinction of a prominent noble dynasty. As a result, some Swiss municipalities became self-governing, whereas the others remained under feudalism for another 600 years. Evidence from a behavioral experiment, World Values Survey, and Swiss Household Panel consistently shows that individuals from historically self-governing municipalities exhibit stronger norms of cooperation today. Referenda data on voter-turnout allow me to trace these effects on individually costly and socially beneficial actions for over 150 years. Furthermore, norms of cooperation map into prosocial behaviors like charitable giving and environmental protection. Uniquely, Switzerland tracks every family’s place of origin in registration data, which I use to demonstrate persistence from cultural transmission in a context of historically low migration. |
| Keywords: | Self-governance ; norms of cooperation ; cultural transmission ; public goods game ; referendum ; Switzerland JEL Codes: D02 ; H41 ; N43 ; Z10 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:wrk:warwec:1510 |
| By: | Matthew Wu (Horace Mann School, United States of America) |
| Abstract: | The Weimar Republic, through its victories against the early insurrections aimed at taking down the imposed republican state, showed that the Republic was able to survive on its own. However, opposition to republicanism remained very much alive underground, through certain radical political parties and paramilitary organizations. This paper will analyze both left and right wing opposition to the Republic, which were both not strong enough to overthrow it, but did force its supporters into underground paramilitary organizations that contributed to the Nazi takeover. First, this paper will show how the Kapp Putsch was a manifestation of monarchist discontent against the fledgling republic. Second, it will elaborate on socialist opposition against the Weimar government, as seen through the Bavarian Soviet Republic. Third, it will explain the phenomenon of paramilitarism as an outgrowth of anti-republicanism and cyclical brutalization. Finally, it will explain how the Nazis’ Sturmabteilung (SA) utilized paramilitary members from both the left and right-wings to fill its ranks and overthrow the Weimar Republic. |
| Keywords: | Republicanism, Freikorps, Kapp Putsch, Paramilitarism, Weimar Republic, Nazism, Civil Unrest |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:smo:scmowp:01287 |
| By: | Isadora Pelegrini (Cedeplar/FACE/UFMG) |
| Abstract: | This paper discusses the nature of international interest in the development of the Brazilian Northeast, in the midst of a Cold War scenario and shortly after the Cuban Revolution. It indicates that Sudene’s creation in 1959 was possible mainly due to the national context of anti-communist panic, a kind of Brazilian Red Scare, established nationally because the rural working class in the Brazilian Northeast began to organize themselves in the Peasant Leagues movement. Thus, it analyzes the impact of the American Cold War propaganda and explains how Celso Furtado used anti-communist discourse to project Sudene as the salvation of the Northeast. |
| Keywords: | Sudene; Brazilian Northeast; Celso Furtado; anti-communism |
| JEL: | B31 N46 N96 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:cdp:texdis:td672 |
| By: | Esmée Zwiers (University of Amsterdam) |
| Abstract: | In the Netherlands, an immediate baby boom followed the end of WWII and the baby bust of the 1930s. I propose a novel application of the bunching methodology to examine whether the war shifted the timing of fertility or changed women’s completed fertility. I disaggregate the number of births by age for cohorts of mothers, and estimate counterfactual distributions of births by exploiting that women experienced the war at different ages. I show that the rise in fertility after the liberation did not make up for the “missed†births that did not occur prior to the war, as fertility would have been 9.4% higher in absence of WWII. |
| Keywords: | Lifecycle fertility, bunching, World War II, The Netherlands |
| JEL: | J11 J13 J18 N34 N44 |
| Date: | 2024–04–17 |
| URL: | https://d.repec.org/n?u=RePEc:tin:wpaper:20240027 |
| By: | Zahra, Tahreen; Beland, Louis-Philippe |
| Abstract: | This is a replication study of Cook et al.(2023), a paper that investigates the determinants of access to nondiscriminatory public accommodations for African-Americans before the 1964 Civil Rights Act. They utilize the Negro Motorist Green Books and World War II casualty data to examine the impact of demographic shifts caused by wartime casualties on the prevalence of nondiscriminatory establishments. Using a difference-in-differences approach, they show that a 10% increase in white casualties led to a 0.6% increase in nondiscriminatory businesses. Further, an instrumental variable strategy indicates that a 10% rise in the Black population share correlated with increased nondiscriminatory services. Our replication study shows that the difference-in-differences estimates remain stable even after excluding states with the highest average white World War II casualties or Southern states. However, the instrumental variable estimates become sensitive to the use of robust standard errors. The reproduction of the figures and tables of the paper is mostly accurate, with a minor discrepancy in Table 3 Panel A column 3, where the original coefficient is stated as 0.0191, and the replicated coefficient is found to be 0.0263. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:i4rdps:140 |
| By: | Karger, Ezra (Federal Reserve Bank of Chicago); Wray, Anthony (University of Southern Denmark) |
| Abstract: | The average white male born in 1900 earned 2.6 times more labor income over their lifetime than the average Black male. This gap is nearly twice as large as the more commonly studied cross-sectional Black-white earnings gap because 48% of Black males born in 1900 died before the age of 30 as compared to just 26% of white males. We calibrate a model of optimal consumption in a world with mortality risk to data describing the life-cycle earnings and survival probabilities of Black and white males born between 1900 and 1970. We find that convergence in Black and white mortality rates led to a 50% reduction in Black-white welfare gaps between the 1900 and 1920 birth cohorts, even as cross-sectional Black-white income gaps for those cohorts remained relatively constant. However, the Black-white welfare gap stagnated for the 1920 to 1970 birth cohorts as gaps in Black-white life expectancy and income remained stable and large. |
| Keywords: | life-cycle earnings, life expectancy, Black-white welfare gap |
| JEL: | J11 J31 N32 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17221 |
| By: | Fukushima, Nanna (The Swedish National Road and Transport Research Institute); von Hinke, Stephanie (University of Bristol); Sørensen, Emil N. (University of Bristol) |
| Abstract: | This paper investigates the effects of the staggered roll-out of a pollution reduction programme introduced in the UK in the 1950s. The policy allowed local authorities to introduce so-called "Smoke Control Areas" (SCAs) which banned smoke emissions. We start by digitizing historical pollution data to show that the policy led to an immediate reduction in black smoke concentrations. We then merge data on the exact location, boundary and month of introduction of SCAs to individual-level outcomes in older age using individuals' year-month and location of birth. We show that exposure to the programme increased individuals' birth weights as well as height in adulthood. We find no impact on their years of education or fluid intelligence. |
| Keywords: | control areas, developmental origins, staggered treatment effects |
| JEL: | I18 I15 C21 C22 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp17205 |
| By: | Marilena Marin (Ovidius University of Constanța, Romania) |
| Abstract: | The concept of solemnity in the act of justice has a long history, originating in antiquity and evolving with the development of society. Since the dawn of history, people have recognized the need to establish official procedures and ceremonies to reach fair and accepted decisions in various disputes and conflicts. Implementing incorrect or erroneous decisions would have deviated from the rules of justice and, at times, even undermined the act of justice. Our work is of practical interest by relating to professional ethics and deontology, as well as analyzing the efficiency of the judicial procedure and the correctness of the title subject to compulsory execution. From the perspective of scientific research methodology, this work addresses the concept of solemnity of the act of justice from the perspective of legal history, through an analysis of each historical era and in relation to certain peoples who have distinguished themselves over time through the rules established in the conduct of trials and the strictness with which they have imposed these rules. |
| Keywords: | solemnity, act, justice, judgment, legal procedure/judicial process |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:smo:scmowp:01282 |
| By: | Steven N. Durlauf |
| Abstract: | This essay provides a review of two important recent books on economic growth: How the World Became Rich by Mark Koyama and Jared Rubin and Slouching Towards Utopia, by J. Bradford DeLong. Each book is noteworthy for its erudition and breadth. I explore strengths and weaknesses of these books and make some proposals on new ways to conceptualize and study long run socioeconomic development. My discussion emphasizes the importance of contingency in determining long run inequalities across countries as well the potential for ideas from complexity theory to augment standard growth modelling. |
| JEL: | N1 O4 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:32873 |
| By: | Lampe, Florian |
| Abstract: | The West African Economic and Monetary Union (WAEMU) is a currency and customs union that is made up of the eight low-income countries Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo. Except for Guinea-Bissau, all member countries of the WAEMU have a shared history as former French colonies. The WAEMU's common currency, the CFA franc, is today pegged to the euro at a fixed exchange rate that is guaranteed by the French treasury. France's influence on monetary policy issues of the WAEMU is still highly present and increasingly contested by political economists, and part of the member countries' civil society. These critics denounce the bilateral exchange rate arrangements as monetary colonialism that outlasted the political independence process from 1954 till 1960 and prevents the West African countries from implementing growth-oriented macroeconomic policies. The proponents of the fixed exchange-rate regime emphasize monetary stability in the form of relatively low inflation rates and a stable external value of the domestic currency. Indeed, the WAEMU zone has shown a remarkably long period of exchange rate stability for the past 30 years. This distinguishes it from Developing and Emerging Economies (DEE) in Latin American or Asian countries in the 1990s and early 2000s, which reacted to balance of payments crises with the introduction of floating exchange rate regimes. The present paper connects to that controversial debate and addresses the important research question if the argument of monetary stability holds considering the current development path of the WAEMU. More concretely, it contrasts the monetary union's resilience against the adverse effects of exchange rate volatility with international competitiveness and a long-term perspective on external debt. On the theoretical level, the study draws on the post-Keynesian liquidity preference theory to elaborate the exchange rate challenges that DEE with internationally integrated financial markets are confronted with. This approach highlights the hierarchical structure of the international monetary system and the resulting adverse implications for peripheral currency areas regarding monetary stability. Furthermore, monetary Keynesian economist have worked out the limitations of an exchange rate-based stabilization strategy arguing that it comes at the expense of losing international competitiveness and a rising international debtor position. These findings serve as a theoretical basis for studying the sustainability of the WAEMU's development path. |
| Keywords: | WAEMU, CFA franc, Post-Keynesian Economics, international currency hierarchy |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:cessdp:301871 |
| By: | Reyman, Katarzyna; Maier, Gunther |
| Abstract: | The system of property rights, the way it is organised, protected and executed affects the land development process and the timing of land development. Real options literature that explains impact of additional uncertainties connected with organisation of property right system on timing of land development concerns mostly western countries. Poland and other CEEC have some unique issues relating to ownership right system that come from post-war, communists, and transition times (previous owners, specific property titles derived from a communist era, reprivatisation, communalisation, etc.). Ownership right is perceived as a very strong right by society, what results from long time of collective ownership, and have some implications on executing property rights. Thus, this paper explains on an example of Poland, CEEC specific property right issues and analyses how it can affect the timing of land development basing on western solutions from real option theory. The topic is important because land markets are strongly influenced by institutions which may vary even in countries with the same economic and political systems like unified EU countries. Therefore, it is essential to understand past historical influence and societal background that have an effect on those institutions. |
| Date: | 2023–01 |
| URL: | https://d.repec.org/n?u=RePEc:wiw:wus009:66520162 |
| By: | Dan Romulus Serban (BabeÈ™-Bolyai University, Cluj-Napoca, Romania) |
| Abstract: | This paper analyzes the biblical episode involving the daughters of the deceased Zelophehad and demonstrates that Hebrew society had the ability to overcome prejudices regarding the primacy of the male sex, even in an eminently patriarchal period. Inheritance is no longer transmitted through the male line and the distinction of sex is eliminated. It must also be recognized that the first important legal disputes in the world appeared in Jewish society long before the codes issued (ius scriptum) during the Roman Empire. They indicate the effervescence of disputes in Jewish legal life. Finally, the Zelophehad episode raises questions about the inspiration and authorship of the biblical text. The ability of the human receiver to perceive and modulate the divine message is accidentally called into question. The study considers societal norms, legal consequences, and ethical aspects involving the daughters' request for inheritance, offering reflections on the evolving nature of laws and the attitudes of society in Hebrew culture. |
| Keywords: | Zelophehad’s daughters, inheritance, legislation, property, common law, subjective law |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:smo:scmowp:01303 |
| By: | Waitkus, Nora; Savage, Mike; Toft, Maren |
| Abstract: | Wealth inequalities are increasingly prominent in contemporary societies, yet they have not been systematically addressed by sociological class analysis. Yet, class analysis should have a lot to offer: In the literature on wealth inequality, wealth is often approached as a unidimensional distribution – a quantity one can possess more or less of, crystallized in notions of the Top 1%. In this theoretical reflection, we discuss ways in which class analysis can address the gravity of wealth inequality by returning to the origins in the thinking of Marx and Weber, where capital accumulation and property organization were given central stage. Drawing on more recent contributions from Bourdieu, and integrating insights from political economy, theories of racial capitalism and feminist perspectives, we outline ways to enrich class theory through attention to housing, finance, business, and debt. Our intervention allows class analysis to embrace accumulation, exploitation, closure and exclusion making it fit for purpose to address 21st-century social changes. |
| Keywords: | wealth; class; theory; capitalism |
| JEL: | N0 J1 |
| Date: | 2024–08–19 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:124635 |
| By: | Facundo Alvaredo (PSE / LSE / IIEP-UBa); François Bourguignon (Paris School of Economics and University of New York in Abu Dhabi); Francisco Ferreira (London School of Economics and IZA); Nora Lustig (Tulane University) |
| Abstract: | Drawing on a comprehensive compilation of quantile shares and inequality measuresfor 34 countries, including over 5, 600 estimated Gini coefficients, we review the measurement ofincome inequality in Latin America and the Caribbean over the last seven decades. We find thatthere is quite a bit of uncertainty regarding inequality levels for the same country/yearcombinations. Differences in inequality levels estimated from household surveys alone are presentbut they derive from differences in the construction of the welfare indicator, the unit of analysis, or the treatment of the data. With harmonized household surveys, the discrepancies are quite small.The range, however, expands significantly when –to correct for undercoverage and underreportingespecially at the top of the distribution– inequality estimates come from some combination ofsurveys and administrative tax data. The range increases even further when survey-based incomeaggregates are scaled to achieve consistency not only with tax registries but with NationalAccounts. Since no single method to correct for underreporting at the top is fully convincing atpresent, we are left with (often wide) ranges, or bands, of inequality as our best summaries ofinequality levels. Reassuringly, however, the dynamic patterns are generally robust across thebands. Although the evidence roughly until the 1970s is too fragmentary and difficult to compare, clearer patterns emerge for the last fifty years. The main feature is a broad inverted U curve, withinequality rising in most countries prior to and often during the 1990s, and falling during the early21st century, at least until around 2015, when trends appear to diverge across countries. Thispattern is broadly robust but features considerable variation in timing and magnitude dependingon the country. |
| Keywords: | income inequality, measurement, Latin America and the Caribbean |
| JEL: | D31 D63 O54 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:inq:inqwps:ecineq2024-672 |
| By: | Diana Geanina Ionas (Law School, Transylvania University of Brasov, Romania) |
| Abstract: | A contract can be concluded by accepting, without reservation, a certain offer to contract or it can be preceded by negotiations. Within these negotiations, the parties can conclude certain agreements known as preliminary contracts. Among these, we will approach the pact of option, which represents a legal figure new to the Romanian judicial system, but not considered an innovation as it is of Italian inspiration. The regulation of this institution is deficient in the Romanian system of law, generating extensive discussions in doctrine pertaining to its legal nature. Because it influences the legal enforcement means of this institution, this paper presents a study of the evolution and legal nature of the pact of option from a historical and comparative perspective, considering the law, jurisprudence and the Romanian, Italian and French doctrine. |
| Keywords: | negotiations, contract, legal nature, compared law |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:smo:scmowp:01291 |
| By: | Kimolo, D.W; Odhiambo, N.M; Nyasha, S |
| Abstract: | This article provides a comprehensive chronological analysis of Uganda's inflation performance and policy reforms aimed at reducing inflation and stabilising the economy from 1970 to 2021. The impetus for this article lies in the growing interest in Uganda as a prototype for other developing countries grappling with high inflation rates. To achieve the objective, the study adopts a rigorous methodology involving a detailed analysis of selected statistical and academic literature. Uganda faced persistent hyperinflation for much of the 1970s and 1980s and early 1990s. In response, the Ugandan government implemented a series of inflation policy reforms aimed at reducing inflation and stabilizing the economy. The policy reforms in Uganda can be analysed episodically through five distinct periods, starting with the first 10 years after independence (1962-1971), followed by 15 years of political instability (1971- 1985), 10 years of recovery (1986-1995), 10 years of economic growth and poverty reduction (1996-2006), and the most recent episode of reforms consolidation (2007-2021). The impact of these reforms has been significant, with inflation rates falling to single digits and the economy experiencing sustained growth. The decline in inflation has helped to stabilize the economy, reduce the cost of living for Ugandans, and attract foreign investment. The study underscores the importance of implementing sound macroeconomic policies, strong political will and leadership, investing in infrastructure, diversifying the economies, communicating effectively with the public, and cooperating regionally to build a robust and sustainable economy that benefits all its citizens. |
| Keywords: | Price Level; Inflation; Deflation; Uganda |
| Date: | 2024–01 |
| URL: | https://d.repec.org/n?u=RePEc:uza:wpaper:31543 |
| By: | Possas, Mario Luiz |
| Abstract: | Mainstream Macroeconomics has withdrawn completely from its remote origins in Keynes and Kalecki, replacing the principle of effective demand (P.E.D.) with supply economics, investment with savings, and dynamics with equilibrium as a norm This article discusses, in the event of Kalecki's centenary, the importance of his contribution for the reconstruction of a macroeconomic theory capable of (i) explaining, through P.E.D., the basic causal relations amongst economic variables without any reference to equilibrium; (ii) thus invalidating the false relevant role ascribed to savings; and (iii) bringing macrodynamics back to the core of the analysis of the capitalist economy. |
| Keywords: | Macroeconomic dynamics, Kalecki, Effective demand, Investment and savings |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:cessdp:301870 |
| By: | Dorian Chirita (Craiova Court of Appeal, Craiova, Romania) |
| Abstract: | The theology of the Holy Apostolic Fathers regarding the person and role of the Virgin Mary was simple, direct, concise, based “on the confession of several truths: the Savior Jesus Christ was born of the Virgin Mary through the power of the Holy Spirit, the Virgin is truly the mother of Christ, she is Prepurified, being chosen and protected by the power of God†. The mystery of the incarnation of God the Word is a convergence and connection (syndrome kai synapheia) between God and the whole creation, which is the ultimate good and the final cause of what is, the role of the Virgin being that of Mediator, bringing the truth about human nature. |
| Keywords: | Theotechology, Mariology, Mother of God, Mediator, cause and ultimate meaning. |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:smo:scmowp:01304 |
| By: | Kohnert, Dirk |
| Abstract: | The Alliance of Sahel States (AES), created in September 2023 by the three military governments of Mali, Niger and Burkina Faso as a counterweight to ECOWAS and the postcolonial influence of France and other Western countries, announced the creation of a confederation of its three countries in July 2024. The AES have more in common than the other countries of the Sahel. First, they are the centre of the Sahel and most vulnerable to jihadism. They figure among the least developed countries, with 40% to 50% of the population living in poverty. They are also landlocked countries with vast desert areas, making them more vulnerable to climate change. The creation of the AES came amid a decade of escalating unrest in the Sahel, fuelled by the aftermath of the NATO-led intervention in Libya in 2011. The resulting instability caused rampant arms trafficking and the rise of armed groups linked to al-Qaeda and the Islamic State. The Sahel region accounts for a staggering 43% of global terrorist deaths, more than South Asia, the Middle East and North Africa combined. Previous leaders have often put French interests ahead of those of their own people, allowing the continued exploitation of the region's natural resources, including uranium, gold and manganese, without much benefit to the local population. In the face of critical comments from the AU about the AES countries' exit from ECOWAS, the former rejected any interference in their internal affairs. The AES confederation will expand the operational space of the junta alliance and consolidate its military and economic partnership with Russia and China, as well as Turkey and Iran. However, the AES secession undermines the legitimacy of ECOWAS by hindering regional economic and security integration and further complicating the return to democratization. The confederation will seek to absorb new members such as Chad, Guinea and Sudan to further strengthen its power and legitimacy as an alternative regional bloc. However, a divided Sahel will make tackling regional challenges even more difficult. If the AES were to replace the CFA franc with its own currency, as announced, and other Francophone countries in the UEMOA were to follow suit, this would require a fundamental restructuring of both the UEMOA and ECOWAS and finally also call into question the introduction of the ECO, the common West African currency, envisaged for 2027. |
| Keywords: | Alliance of Sahel States; West Africa; Sahel; ECOWAS; UEMOA; Jihadism; Decolonization; Nationalism; Sovereignty; Sustainable development; good governance; CFA franc; Mali; Niger; Burkina Faso; Guinea; Nigeria; France; Russia; China; |
| JEL: | F15 F35 F52 F53 F54 H77 N17 N47 O17 O55 Z13 |
| Date: | 2024–07–23 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121554 |
| By: | Theros, Marika |
| Abstract: | Corruption remains a persistent feature in most transitional and fragile countries, raising questions around the processes and outcomes of international development and economic reforms. In the case of Afghanistan, conventional wisdom tends to blame domestic factors, including corruption, in the collapse of the internationally-backed Islamic Republic of Afghanistan, while largely neglecting the co-constitutive nexus between economic reconstruction, criminality, and political authority. Combining the political marketplace framework with a network analysis, this paper traces how a corrupt network formed around the Kabul Bank, grew and metastasised by leveraging neo-liberal and technocratic economic reform policies, and thus, gravely undermined the country’s governance and stability. By doing so, it argues that international reconstruction practices and resources reconfigured power in Afghanistan, and helped create a governance system governed by the logic of a criminalised political marketplace. The paper also demonstrates the utility of a political marketplace lens in explaining evolving political dynamics, with a network analysis to generate deeper insights into the complex interactions between the local and global dynamics that produce criminality, corruption, and state capture. |
| Keywords: | Afghanistan; corruption; criminal networks; political economy; post-conflict reconstruction; Taylor & Francis deal |
| JEL: | N0 |
| Date: | 2024–08–12 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:124263 |