Development Capitalism and Rent

Development  Capitalism  and Rent

This book combines Hartmut Elsenhans’ ideas on the laws of motion of capitalism and his approach to world system analysis and rent theory, his thoughts on development theory and finally, international relations and the past, present, and ...

Author: Hannes Warnecke-Berger

Publisher: Springer Nature

ISBN: 9783030626051

Category: Political Science

Page: 267

View: 365

This book combines Hartmut Elsenhans’ ideas on the laws of motion of capitalism and his approach to world system analysis and rent theory, his thoughts on development theory and finally, international relations and the past, present, and future dynamics of the international system. Hartmut Elsenhans shows that capitalist growth depends on rising mass incomes and on the strength of labor unions and their bargaining power. This alternative approach challenges mainstream assumptions on capitalism, growth, and development by both leading leftist authors, such as David Harvey, Immanuel Wallerstein, Andre Gunder Frank or Samir Amin, as well as by neoclassical economists and western institutionalist political and social scientists. Hartmut Elsenhans offers a unique approach to understand the dynamics of capitalism as well as the prospects for development. This Festschrift brings together his major contributions on these topics that were initially never or only published in German or French.
Categories: Political Science

Capitalism Development and Empowerment of Labour

Capitalism  Development and Empowerment of Labour

That said, the efficient use of rents for overcoming underdevelopment also requires political intervention. Incomes from rent should not be invested in the production line which generated rent. This would lead to increased production in ...

Author: Hartmut Elsenhans

Publisher: Routledge

ISBN: 9781000435955

Category: Business & Economics

Page: 236

View: 617

The dominant neoliberal approach presents politics and political economy as nuisances which disturb the smooth operation of self-regulating markets. But political economy is not merely an academic issue – it is a class issue, and this book forcefully argues that political economy should return to a central position in the study of the social sciences. Offering nothing less than a reconciliation of Marxian, Keynesian and neoclassical economics, the work opens with a discussion of the key, interconnected economic concepts which help us to understand capitalism: price, income, profit, value, growth and crisis. Prices reflect income distribution and therefore class relations, and the chapters show that the very emergence of capitalism resulted from mass empowerment of the so-called "lower orders". Profit is always available if entrepreneurs spend on net investment and create incomes for additional labour; this, in turn, requires expanding demand, and so therefore profit depends on rising mass incomes. Conversely, underdevelopment is the result of the destitution and disempowerment of the masses. In the Global South today, it is clear that enormous riches go hand in hand with widespread misery and poverty because the market does not transform wealth into the kind of investment that might benefit all. This book argues that the new wealth triggered by productivity increases has enabled the rich to liberate themselves from the capitalist constraints of competition and waste their new wealth in the form of rents. The main threat today is, in fact, the globalisation of rent. The text makes a point for a progressive counter strategy: capitalist structures that empower labour need to be transferred to the Global South. This requires political and economic efforts towards empowering labour in the Global South. This book demonstrates the analytical power of political economy for all social scientists and will be invaluable reading for economists, political scientists and sociologists in particular.
Categories: Business & Economics

Capitalism Institutions and Economic Development

Capitalism  Institutions  and Economic Development

But economists who find rent-seeking theory helpful for the analysis of market dysfunctions in developing countries would generally also concede that rent seeking cannot be eliminated without better institutions. Rent seeking is not the ...

Author: Michael G. Heller

Publisher: Routledge

ISBN: 9781135214999

Category: Business & Economics

Page: 336

View: 220

Based on a timely reassessment of the classic arguments of Weber, Schumpeter, Hayek, Popper, and Parsons, this book reconceptualizes actually-existing capitalism. It proposes capitalism as an impersonal procedural solution to the problems of spontaneously coordinating public institutions that enable durable market-based wealth generation and social order. Few countries have achieved this. A novel contribution of the book is that it identifies a practical sequence of economic and institutional shortcuts to real capitalism. The book challenges current orthodoxies about varieties of capitalism and relativist recipes for economic growth, and it criticizes culturalist and incrementalist viewpoints in institutional economics. It calls on the social sciences to help in constructing dynamic and prosperous open societies of the twenty-first century by reclaiming older ideas of ‘social economics’. Better and faster solutions will emphasize crisis-induced change, rational leadership, ideological persuasion, institutional engineering, rules-based market freedom, and the universalistic formal-procedural impersonality of optimal regulatory systems.
Categories: Business & Economics

Rents Rent Seeking and Economic Development

Rents  Rent Seeking and Economic Development

However appealing such a mythical capitalism may be , our discussion has been concerned to establish that such a model is not relevant for developing economies , and perhaps not for any economy . The relevant distinction is between rent ...

Author: Mushtaq H. Khan

Publisher: Cambridge University Press

ISBN: 0521788668

Category: Business & Economics

Page: 338

View: 826

The concepts of rents and rent-seeking are central to any discussion of the processes of economic development. Yet conventional models of rent-seeking are unable to explain how it can drive decades of rapid growth in some countries, and at other times be associated with spectacular economic crises. This book argues that the rent-seeking framework has to be radically extended by incorporating insights developed by political scientists, institutional economists and political economists if it is to explain the anomalous role played by rent-seeking in Asian countries. It includes detailed analysis of Thailand, Malaysia, the Philippines, the Indian sub-continent, Indonesia and South Korea. This new critical and multidisciplinary approach has important policy implications for the debates over institutional reform in developing countries. It brings together leading international scholars in economics and political science, and will be of great interest to readers in the social sciences and Asian studies in general.
Categories: Business & Economics

Not Paying the Rent

Not Paying the Rent

This is a conversational book with chapters directly followed by responses from experts.

Author: Neil Wilcock

Publisher: Palgrave Macmillan

ISBN: 3030788636

Category: Political Science

Page: 0

View: 548

This is a conversational book with chapters directly followed by responses from experts. The main authors propose that the failure in development is not due to capitalism but rather rentism, which is earnings based on political rather market returns. Rent prevents development and ingrains social and economic inequalities. Using the case study of Brazil’s economic development, it is shown how development fails because policies Brazil and other low to middle-income countries promote do not overcome the main obstacle to development - rent. The overcoming of rent would occur within a model of globalisation whereby the advanced economics still prosper concurrently as the poorest countries grow, all underpinned by international organisations defending a rule-based globalisation. Not Paying the Rent: Imagining a Fairer Capitalism presents a new application of the theory of rent, both historically in the case of Brazil, and in practical terms in tackling it through modern international organisations. It will be relevant to students, researchers, and general readers interested in inequality and development economics.
Categories: Political Science

The Formative Period of American Capitalism

The Formative Period of American Capitalism

Whoever claims that only differential rent exists, inevitably arrives at the conclusion that it makes not the slightest difference to the conditions of capitalist farming and capitalist development whether the land belongs to the state ...

Author: Daniel Gaido

Publisher: Routledge

ISBN: 9781134222018

Category: Business & Economics

Page: 177

View: 761

Applying certain Marxist categories of analysis to the study of American history, the central thesis of this outstanding book is that the main peculiarity of American historical development was the almost direct transition from a colonial to an imperialist economy. Expertly dealing with such topics as: * the American Revolution and the Civil War against the background of the European bourgeois revolutions * the influence of the Western land tenure system on the process of capital accumulation * the passage from plantation slavery to sharecropping in the South and its legacy of racism * the transition to imperialism towards the end of the nineteenth century * the rise of the labour movement and the main American socialist organizations up to the end of the First World War. A valuable resource for postgraduate students and researchers of business studies and American studies, Gaido’s text will undoubtedly find a place on the bookshelves of many.
Categories: Business & Economics

Capitalism Development and Empowerment of Labour

Capitalism  Development and Empowerment of Labour

This book demonstrates the analytical power of political economy for all social scientists and will be invaluable reading for economists, political scientists and sociologists in particular.

Author: Hartmut Elsenhans

Publisher: Routledge

ISBN: 9781000435993

Category: Business & Economics

Page: 163

View: 855

The dominant neoliberal approach presents politics and political economy as nuisances which disturb the smooth operation of self-regulating markets. But political economy is not merely an academic issue – it is a class issue, and this book forcefully argues that political economy should return to a central position in the study of the social sciences. Offering nothing less than a reconciliation of Marxian, Keynesian and neoclassical economics, the work opens with a discussion of the key, interconnected economic concepts which help us to understand capitalism: price, income, profit, value, growth and crisis. Prices reflect income distribution and therefore class relations, and the chapters show that the very emergence of capitalism resulted from mass empowerment of the so-called "lower orders". Profit is always available if entrepreneurs spend on net investment and create incomes for additional labour; this, in turn, requires expanding demand, and so therefore profit depends on rising mass incomes. Conversely, underdevelopment is the result of the destitution and disempowerment of the masses. In the Global South today, it is clear that enormous riches go hand in hand with widespread misery and poverty because the market does not transform wealth into the kind of investment that might benefit all. This book argues that the new wealth triggered by productivity increases has enabled the rich to liberate themselves from the capitalist constraints of competition and waste their new wealth in the form of rents. The main threat today is, in fact, the globalisation of rent. The text makes a point for a progressive counter strategy: capitalist structures that empower labour need to be transferred to the Global South. This requires political and economic efforts towards empowering labour in the Global South. This book demonstrates the analytical power of political economy for all social scientists and will be invaluable reading for economists, political scientists and sociologists in particular.
Categories: Business & Economics

The Origin of Capitalism

The Origin of Capitalism

This market-mediated relation between landlords and peasants is visible in the attitude to rents that was emerging by ... experience of landlords at a critical moment in the development of the competitive system of agrarian capitalism.

Author: Ellen Meiksins Wood

Publisher: Verso Books

ISBN: 9781784787790

Category: Political Science

Page: 257

View: 583

Capitalism is not a natural and inevitable consequence of human nature, nor is it simply an extension of age-old practices of trade and commerce. In this original and provocative book Ellen Meiksins Wood reminds us that capitalism is not a natural and inevitable consequence of human nature, nor is it simply an extension of age-old practices of trade and commerce. Rather, it is a late and localized product of very specific historical conditions, which required great transformations in social relations and in the human interaction with nature. This new edition is substantially revised and expanded, with extensive new material on imperialism, anti-Eurocentric history, capitalism and the nation-state, and the differences between capitalism and non-capitalist commerce. The author traces links between the origin of capitalism and contemporary conditions such as 'globalization', ecological degradation, and the current agricultural crisis.
Categories: Political Science

Rentier Capitalism

Rentier Capitalism

In developing their respective theories of rent, both Smith and Ricardo emphasized the monopolistic character of landownership. The fact that the landowner enjoyed monopoly power over her asset meant, said Smith, that the price paid for ...

Author: Brett Christophers

Publisher: Verso Books

ISBN: 9781788739733

Category: Political Science

Page: 512

View: 240

In this landmark book, the author of The New Enclosure provides a forensic examination and sweeping critique of early-twenty-first-century capitalism. Brett Christophers styles this as ‘rentier capitalism’, in which ownership of key types of scarce assets - such as land, intellectual property, natural resources, or digital platforms - is all-important and dominated by a few unfathomably wealthy companies and individuals: rentiers. If a small elite owns today’s economy, everybody else foots the bill. Nowhere is this divergence starker, Christophers shows, than in the United Kingdom, where the prototypical ills of rentier capitalism - vast inequalities combined with entrenched economic stagnation - are on full display and have led the country inexorably to the precipice of Brexit. With profound lessons for other countries subject to rentier dominance, Christophers’ examination of the UK case is indispensable to those wanting not just to understand this insidious economic phenomenon but to overcome it. Frequently invoked but never previously analysed and illuminated in all its depth and variety, rentier capitalism is here laid bare for the first time.
Categories: Political Science

Making Houses Crafting Capitalism

Making Houses  Crafting Capitalism

Ground rent also offered advantages to capitalists ( those with money or land ) and had ramifications for house ownership and the contours of urban development . Capitalists and craftsmen interacted to shape the practices emanating from ...

Author: Donna J. Rilling

Publisher: University of Pennsylvania Press

ISBN: 0812235800

Category: Business & Economics

Page: 261

View: 275

How entrepreneurial housebuilders fueled a rapid economy. "A well-written and easily read business book with a historical perspective, quite fit for a general readership interested in the history of American enterprise."—APT Bulletin
Categories: Business & Economics