nep-hme New Economics Papers
on Heterodox Microeconomics
Issue of 2013‒08‒10
eight papers chosen by
Frederic S. Lee
University of Missouri-Kansas City

  1. The Measurement of Labour Content: A General Approach By Naoki Yoshihara; Roberto Veneziani;
  2. The fight against cartels: a transatlantic perspective By Emilie Dargaud; Andrea Mantovani; Carlo Reggiani
  3. Take the Money and Run: The Business Enterprise in the Age of Money Manager Capitalism By Jo, Tae-Hee; Henry, John F.
  4. The future of Public Enterprise: The French Post By Philippe Bance; Nathalie Rey
  5. Revolução capitalista e formação do estado-nação By BRESSER-PEREIRA, Luiz Carlos
  6. Letting the Punishment Fit the Crime: Sentencing in Cartel Cases in Ireland By Gorecki, Paul K.
  7. Controlling managers' 'becoming': the practice of identity regulation By Stéphan Pezé
  8. Knowledge Networks and Markets By OECD

  1. By: Naoki Yoshihara (Hitotsubashi University); Roberto Veneziani (University of Massachusetts, Amherst);
    Abstract: This paper analyses the theoretical issues related to the measurement of labour content in the context of general technologies with heterogeneous labour. A novel axiomatic framework is used in order to formulate the key properties of the notion of labour content and analyse its theoretical foundations. Then, a simple measure of labour content is uniquely characterised, which is consistent with common practice in input-output analysis and with a number of recent approaches in value theory. JEL Categories:
    Date: 2013–05
  2. By: Emilie Dargaud (University of Lyon & CNRS, GATE); Andrea Mantovani (University of Bologna & IEB); Carlo Reggiani (University of Manchester)
    Abstract: The fight against cartels is a priority for antitrust authorities on both sides of the Atlantic. What differs between the EU and the US is not the basic toolkit for achieving deterrence, but to whom it is targeted. In the EU, pecuniary sanctions against the firm are the only instruments available to the Commission, while in the US criminal sanctions are also widely employed. The aim of this paper is to compare two different types of fines levied on managerial firms when they collude. We consider a profit based fine as opposed to a delegation based fine, with the latter targeting the manager in a more direct way. Under the assumption of revenue equivalence, we find that the delegation based fine, although distortive, is more effective in deterring cartels than the profit based one. When evaluating social welfare, a trade-off between deterrence and output distortion can arise. However, if the antitrust authority focuses on consumer surplus, then the delegation based fine is to be preferred.
    Keywords: Cartel policy, managerial firms, collusion
    JEL: K21 L44 K42 L21
    Date: 2013
  3. By: Jo, Tae-Hee; Henry, John F.
    Abstract: Most heterodox theories of the business enterprise base themselves on the Veblenian going concern in which managers pursue the long-run survival and growth of the enterprise, whereas absentee owners are occupied with short-run financial interests. Since Veblen’s era, the capitalist social provisioning process has evolved toward money manager capitalism in a dialectical fashion. At the heart of the transformation are changes in the business enterprise. In this paper, we make a threefold argument. First, while the Veblenian account of a going concern still holds true for many enterprises, more and more of the economy is being directed toward financial concerns. Second, as a consequence, the social provisioning process becomes more unstable and people’s welfare becomes more vulnerable. Third, the concept of a going concern is therefore to be modified in order to put the business enterprise in the context of money manager capitalism.
    Keywords: Thorstein B. Veblen, Hyman P. Minsky, Going Concern, Money Manager Capitalism, Mergers and Acquisitions, Social Provisioning Process
    JEL: B5 D20 G34
    Date: 2013–08–01
  4. By: Philippe Bance (CREAM - Centre de Recherche en Economie Appliquée à la Mondialisation - Université de Rouen); Nathalie Rey (CEPN - Centre d'Economie de l'Université Paris Nord - Université Paris XIII - Paris Nord - CNRS : UMR7234)
    Abstract: La Poste is a very ancient organisation of the postal service in France.It became an administration at the beginning of the 17th century to accomplish postal public missions. In 1991, the PTT administration was separated in two enterprises: France Telecom and La Poste. This last one is became a public enterprise, totally owned by the French state. La Poste is too an operator in the banking service. In 2006, was created La BanquePostale which is a subsidiary company 100% owned by La Poste. The case study will address the two main activity fields of La Poste: the delivery of mail and packages on one hand; financial services, on the other hand. It will be analysed under what conditions could be consistent the exercise of public missions, such as accessibility to postal and financial services, development of territories and the competitive constraints.
    Date: 2013–06–13
  5. By: BRESSER-PEREIRA, Luiz Carlos
    Abstract: The Capitalist Revolution was the period of the transition from the ancient societies to capitalism; it was a long transition that began in the north of Italy, in the 14th century, and for the first time got completed in England, in the second part of the 18th century, with the formation of the nation state and the Industrial Revolution; it is a major rupture, which divided the history of mankind between a period where empires or civilizations prospered and then fell into decadence and disappeared, and a period of ingrained economic development and long-term improvement of standards of living. Since then the different peoples are engaged in the social construction of their nations and their states; since then, they are experiencing economic development, because capitalism is essentially dynamic; since then they are struggling for the political objectives that they historically defined for themselves from that revolution: security, freedom, economic well-being, social justice, and protection of the environment.
    Date: 2013–08–02
  6. By: Gorecki, Paul K.
    Keywords: Ireland/qec
    Date: 2013–05
  7. By: Stéphan Pezé (DRM - Dauphine Recherches en Management - CNRS : UMR7088 - Université Paris IX - Paris Dauphine)
    Abstract: I explore here the process of controlling managers 'becoming' through the practices of identity regulation. My focus is on how identity regulation is performed through individuals' concrete actions. Through a qualitative longitudinal study on managerial training, three contributions are offered. Identity regulation discourses are performed through micro-practices showing that identity regulation is far from being a top-down process; identity regulation practices are sustained by "side" practices which secure organizational members' participation and enactment of these discourses; finally, identity work is not only an autonomous and individual process and it can be a deliberate target of identity regulation practices.
    Keywords: Identity Regulation; Identity
    Date: 2013–06–01
  8. By: OECD
    Abstract: This report aims to shed light on the role of markets and networks for knowledge-based assets. Knowledge Networks and Markets (KNMs) comprise the wide array of mechanisms and institutions facilitating the creation, exchange, dissemination and utilisation of knowledge in its multiple forms. This document provides new evidence on the knowledge-sourcing strategies of firms and their role in shaping innovation activities, according to different characteristics, and their impact on performance. It proposes a conceptual framework for understanding how KNMs support knowledge flows and the transfer of intellectual property (IP) rights, supported by a number of novel examples. It considers more specifically some developments in the market for IP rights, looking in the first instance at the evidence on the size of the market and the role of intermediaries. The role of public policies in the IP marketplace is also considered, with particular emphasis on some new forms of policy interventions such as government-sponsored patent funds. This document briefly reviews some key features of the markets and networks for knowledge originating in public research organisations, as well as the role of intermediaries such as technology transfer offices, whose role has been changing rapidly in recent years. Finally, the analysis of knowledge markets is extended to the market for knowledge embodied in highly skilled employees. The mixed impact of mobility on innovation is noted, considering in particular the use of agreements to restrict the movement of human capital and the potential implications of their enforcement. Some proposals for inclusion in a future measurement agenda are outlined.
    Date: 2013–06–19

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