nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2023‒01‒30
three papers chosen by
Karl Petrick
Western New England University

  1. Mission-Oriented Policies and the “Entrepreneurial State” at Work: An Agent-Based Exploration By Giovanni Dosi; Francesco Lamperti; Mariana Mazzucato; Mauro Napoletano; Andrea Roventini
  2. The meaning of class struggle: Marx and the 1848 june days By Leipold, Bruno
  3. Close the Gap: Accelerating Post-pandemic Recovery through Social Justice By Domingo, Sonny N.; Ulep, Valerie Gilbert T.; Epetia, Ma. Christina F.

  1. By: Giovanni Dosi (LEM - Laboratory of Economics and Management - SSSUP - Scuola Universitaria Superiore Sant'Anna [Pisa]); Francesco Lamperti (UP1 - Université Paris 1 Panthéon-Sorbonne); Mariana Mazzucato; Mauro Napoletano (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po); Andrea Roventini
    Abstract: We study the impact of alternative innovation policies on the short- and long-run performance of the economy, as well as on public finances, extending the Schumpeter meeting Keynes agent-based model (Dosi et al., 2010). In particular, we consider market-based innovation policies such as R&D subsidies to firms, tax discount on investment, and direct policies akin to the "Entrepreneurial State" (Mazzucato, 2013), involving the creation of public research oriented firms diffusing technologies along specific trajectories, and funding a Public Research Lab conducting basic research to achieve radical innovations that enlarge the technological opportunities of the economy. Simu- lation results show that all policies improve productivity and GDP growth, but the best outcomes are achieved by active discretionary State policies, which are also able to crowd-in private investment and have positive hysteresis effects on growth dynamics. For the same size of public resources allocated to market-based interventions, "Mission" innovation policies deliver significantly better aggregate performance if the government is patient enough and willing to bear the intrinsic risks related to innovative activities.
    Keywords: Innovation policy, mission-oriented R&D, entrepreneurial state, agent-based modelling
    Date: 2021–01–01
  2. By: Leipold, Bruno
    Abstract: Karl Marx characterized the 1848 June Days uprising as a class struggle between proletarians and the bourgeoisie. But modern investigations have shown that the insurgents actually consisted primarily of artisans and not proletarians. They have also undermined Marx’s claim that one of the primary forces used to defeat the insur-gency, the Mobile Guard, was recruited from the lumpenproletariat, when in fact they shared the same social background as the insurgents. As a result of these findings, crit-ics have questioned the adequacy of Marx’s class analysis and concluded that he was wrong to describe the June Days as a class struggle. I argue that the empirical findings represent serious shortcomings in Marx’s account and need to be properly incorpo-rated into our understanding of the uprising. However, I challenge the characterisation of Marx’s class analysis and show that though the June Days were not the class struggle that Marx presented, they were still a class struggle in his understanding of what class struggle means.
    Keywords: 1848 french revolution; artisans; class; class struggle; Journées de juin; June days; Karl Marx; lumpenproletariat; mobile guard; petty bourgeoisie; proletarians
    JEL: B14 B24 P2 P3
    Date: 2021–07–01
  3. By: Domingo, Sonny N.; Ulep, Valerie Gilbert T.; Epetia, Ma. Christina F.
    Abstract: Socioeconomic disparities run deep in the Philippines, but the COVID-19 pandemic further exacerbated these inequities. Globally, there is a renewed sense of urgency to break these inequities and place social justice at the front and center of the post-COVID recovery. Social justice is about redressing power imbalances, assuring the protection of equal access to liberties, rights, and opportunities, and distributing the benefits, risks, and costs among peoples across generations. This paper examined the disproportionate impacts of the COVID-19 pandemic in the following sectors: health, labor and education, and environment, as well as the deep-seated structural and systems challenges that could explain these disparities. Avenues for insightful discourses and genuine reforms are needed to address concerns on human capital development and social protection and environment resilience and climate change. Comments to this paper are welcome within 60 days from the date of posting. Email
    Keywords: social justice;inequality;COVID-19;social protection;labor;education;health;environment;resilience
    Date: 2022

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