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on Post Keynesian Economics |
| By: | Mark Setterfield (Department of Economics, New School For Social Research, USA) |
| Abstract: | The purpose of this paper is to contribute to the integration of unpaid care-giving in the household into short- and long-term macroeconomic theory and, in particular, the theoretical structure of production on the supply-side of the economy. The ambition of the project is to furnish a general theoretical representation of how unpaid care giving and its (gendered) social structure contributes to the technical conditions of production in the sphere of marketed output. In so doing, it aims to provide macro theorists with an apparatus that allows consistent description of both short-term (levels of activity) and long-term (rates of growth) macro outcomes in a manner that routinely integrates feminist insights regarding the gendered structure of the social reproduction of labour into macroeconomic analysis. |
| Keywords: | Social reproduction of labour, unpaid care-giving, macroeconomic theory, potential output, natural rate of growth, technical change |
| JEL: | E11 E12 B54 E23 J13 J16 J24 O33 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:new:wpaper:2405&r=pke |
| By: | Ghislain Deleplace (LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8 Vincennes-Saint-Denis) |
| Abstract: | For de Cecco power relations are central in the working of the pre-WWI international gold standard. He gives an illustration of that in the chapter of Money and Empire devoted to the relationship between Britain and India, where the gold-exchange standard is presented as a way for Britain to get hold of India's trade surplus with the rest of the world in order to balance her own international accounts. On the contrary, Keynes praised the Indian gold-exchange standard as a system which not only allowed stabilising India's relations with the outside world but also pointed the way to a better-regulated monetary system for any country, in the line of Ricardo's Ingot Plan nearly one century older. The same notion may thus be seen alternatively as a powerful tool of domination or as a good practical idea. The paper describes how Lindsay adapted Ricardo's scheme to India and contrasts de Cecco's and Keynes's interpretations of the Indian gold-exchange standard, before suggesting that monetary ideas can prevail in their own right when they are theoretically well-founded and practically feasible, independently of the power relations they may reflect. Publication: Deleplace, G. (2023 a), "Power Relations and Monetary Ideas: The Case of the Gold-Exchange Standard in India, " Review of Political Economy, 35 (2): 394-406. hal-04253424 |
| Keywords: | Gold exchange Standard, India, De Cecco, Keynes, Lindsay, Ricardo |
| Date: | 2022–06–28 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04429446&r=pke |
| By: | Heidi Reed (Audencia Business School, Nantes) |
| Abstract: | Abstract The COVID‐19 pandemic created extreme conditions in which the need for care was overwhelming and led to competing stakeholder demands. What are society's expectations of business in such conditions, and how might these expectations challenge traditional understandings of the business in society relationship? Using a qualitative survey during the initial stages of the pandemic, the study draws on participants from the US public to identify what they viewed as responsible and irresponsible business behavior in response to the COVID‐19 crisis. Analysis reveals that participants' perceptions are strongly rooted in ethics of care reasoning. This reasoning exposes gaps in CSR and stakeholder theories around "who and what really counts", while offering a different conception of balancing business self‐interest with external demands. Drawing on this finding, the study joins scholarship highlighting the need for a political care movement and argues that untangling care from neoliberal capitalist logics would resolve many of the competing stakeholder demands and paradoxes that characterize grand challenges such as the COVID‐19 pandemic. |
| Keywords: | competing demands COVID-19 CSR ethics of care grand challenges stakeholder theory, competing demands, COVID-19, CSR, ethics of care, grand challenges, stakeholder theory |
| Date: | 2023–10–24 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04461114&r=pke |
| By: | Ghislain Deleplace (LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8 Vincennes-Saint-Denis) |
| Abstract: | Part of the works of Richard Arena (Arena et Maricic, 1988; Arena and Schmidt, 1999; Arena, 2000) has been devoted to the reactions of French economists to the publication of General Theory. In fact the French translation of this book, completed in 1939 but only published in 1942, did not originate from an academic interest (although according to Keynes the book was "chiefly addressed to [his] fellow economists") but a political one: the translator, Jean de Largentaye, implemented it when, as a high-ranking public officer, he was confronted to issues related to the ruling monetary situation or a prospective plan of economic recovery. Using the private correspondence between Keynes and Largentaye and other sources of the same period, my contribution aims at clarifying the historical context in which the French translation of General Theory was prepared and published. As such it is complementing a study of the theoretical stakes of the translation that I recently published elsewhere (Deleplace 2021). Publication: Deleplace, G. (2024 b), "When General Theory met French Politics: the Historical Context of a Translation, " in Dal Pont Legrand, M. and Gloria, S. (eds.) Fifty Years of Economics through the Lenses of Historians of Economic Thought, New York: Springer, à paraître. |
| Keywords: | Keynes, General Theory, traduction française, Largentaye |
| Date: | 2022–05–19 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04429248&r=pke |
| By: | Barr, Abigail (University of Nottingham); Hochleitner, Anna (Dept. of Economics, Norwegian School of Economics and Business Administration); Sonderegger, Silvia (University of Nottingham) |
| Abstract: | We study the relationship between inequality and social instability. While the argument that inequality can be damaging for the cohesion of a society is well established, the empirical evidence is mixed. We use a novel approach to isolate the causal relationship running from inequality to social instability. We run a laboratory experiment in which two groups interact repeatedly and have an incentive to coordinate even though coordination comes at the cost of inter-group inequality. Then, we vary the extent of the inequality implied by coordination. Our results show that increasing inequality has a destabilising effect; the disadvantaged initiate the destabilisation; and a worsening of the absolute situation of the disadvantaged exacerbates the destabilising effect of increasing inequality. These findings are in line with a simple model incorporating inequality aversion and myopic best response. Finally, we show that history matters. People respond differently to the same level of current inequality depending on their past experiences. More specifically, a history of stability facilitates the re-emergence of coordination in more unequal environments, and a sudden increase in inequality is more destabilising than a gradual increase. |
| Keywords: | Collective decision making; Conflict and Revolutions; Inequality |
| JEL: | C92 D01 D63 D74 |
| Date: | 2024–03–04 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:nhheco:2024_002&r=pke |
| By: | Ghislain Deleplace (LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8 Vincennes-Saint-Denis) |
| Abstract: | The purpose of the paper is to challenge two widely-held myths about Ricardo's theory of money and to suggest between the value and the quantity of money owes nothing to a commodity-theory of money (Section 2) or to the Quantity Theory of Money (Section 3) but puts the market price of the standard of money centre-stage (Section 4). Ricardo's applied pronouncements on money then appear as direct consequences of this theory (Section 5). Publication: Deleplace, G. (2023 b), "On Some Myths about Ricardo's Theory of Money, " in King, J. E. (ed.), The Anthem Companion to David Ricardo, London: Anthem Press: 9-28. hal-04257033 |
| Keywords: | Ricardo David Money Standard of money Quantity theory of money Monetary policy |
| Date: | 2022–06–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04429292&r=pke |