1,721,037 research outputs found
A Financialized Monetary Economy of Production: Some Further Reflections
Full text linkBadalian and Krivorotov (2012) not only acknowledge the strong link between the crisis of 2007 and the 1990s technological paradigm, but they also accept the complementarity between overinvestment in new technologies and increasing financial liquidity that we highlighted in our article “A Financialized
Monetary Economy of Production.” They argue that a similar trend seems to have also characterized Great Britain between the end of the nineteenth century and the first decade of the twentieth century. Thus, in this paper, we try to deepen
the comparison between the regime of accumulation led by Great Britain during the nineteenth century and the finance-led regime of accumulation led by the United States that has characterized contemporary capitalism since the 1990s. We
also explain the main differences between the growth patterns during these two periods. Furthermore, we criticize the monetary theory proposed by Badalian and Krivorotov for failing to consider both the store of value function and the credit
function of money. This leads to two major misconstructions: the first relating to the interpretation of the financial circuit typical of the international payment system used between 1870 and 1907; the second relating to the definition itself of financialization
Cognitive-cultural production, digital labour and the new frontiers of knowledge. A conversation with Allen J. Scott
No full textInternational audienceWhat is the role played by cognitive-cultural production? What are the meanings and the stakes of the "feminization" of labor? What is the meaning of "Digital Taylorism"? Is the metropolis today a functional substitute for the factory in the context of industrial capitalism? What is the role of universities in cultural-cognitive capitalism? Is there a contradictory relationship between knowledge-based economy and cognitive capitalism? Stefano Lucarelli, Michael A. Peters and Carlo Vercellone interview Allen J. Scot
Cognitive-cultural production, digital labour and the new frontiers of knowledge. A conversation with Allen J. Scott
No full textInternational audienceWhat is the role played by cognitive-cultural production? What are the meanings and the stakes of the "feminization" of labor? What is the meaning of "Digital Taylorism"? Is the metropolis today a functional substitute for the factory in the context of industrial capitalism? What is the role of universities in cultural-cognitive capitalism? Is there a contradictory relationship between knowledge-based economy and cognitive capitalism? Stefano Lucarelli, Michael A. Peters and Carlo Vercellone interview Allen J. Scot
L'Italia e la crisi, c'è davvero luce in fondo al tunnel?
No full textLa minore crescita del Pil nazionale rispetto alla media europea suggerirebbe
molta cautela nell’analisi e nelle previsioni economiche. È da più di 20 anni
che l’Italia non aggancia la “crescita” internazionale
Economia e criminalità in Italia. Un’introduzione
Full text linkThe study of criminal behaviour from the point of view of economics is mostly brought back to the canon of rationality. In this introduction to the special issue on crime and economy, we explain why it can be appropriate to move away from the extremely widespread vision that leads criminal actions to the microeconomic approach and, in particular, to the logic of business choices, to assume the point of view of those who choose to study crime as a governance structure. In particular, it is important to recognise that the activities of criminal organisations which have the main economic and political repercussions always take on an international dimension. This is an extremely important issue for economic policy in Europe.
The study of criminal behaviour from the point of view of economics is mostly brought back to the canon of rationality. In this introduction to the special issue on crime and economy, we explain why it can be appropriate to move away from the extremely widespread vision that leads criminal actions to the microeconomic approach and, in particular, to the logic of business choices, to assume the point of view of those who choose to study crime as a governance structure. In particular, it is important to recognise that the activities of criminal organisations which have the main economic and political repercussions always take on an international dimension. This is an extremely important issue for economic policy in Europe.
JEL codes: A10, K14, P50, Y20
Keywords: illegal economy, crime organizations, Ital
Prima o poi l’Italia si riprenderà?
No full textLa minore crescita del Pil nazionale rispetto alla media europea suggerirebbe molta cautela nell’analisi e nelle previsioni economiche. È da più di 20 anni che l’Italia non aggancia la “crescita” internazionale
A financialized monetary economy of production
Full text linkThe monetary theory of production offers a systemic approach to describe systemic crises, but, faced with contemporary capitalism, it needs to be modified. In accordance with the Schumpeterian perspective, we adopt a framework that points to both the monetary nature of and qualitative changes in the capitalist system. The low level of wages, and the consequent underconsumption, is not the unique cause of the 2007–9 crisis. Not only has financialization changed the
behavior of consumer-savers, but investment has also changed. The overfinanced leverage that was an important characteristic of the crisis may be better understood historically with the emergence of the 1990s’ technological paradigm. The crisis stems mainly from overinvestment in new technologies. Particularly during the 1990s, the emerging industrial technology favored its own sort of financing. The financialization of the monetary economy of production can be better explained if we understand the shift to a new technological paradigm as a general outlook on the productive problems faced by firms, whereby the relevance of the so-called immaterial production takes on greater importance. To describe this dynamic, we present two different analytical forms of the monetary economy of production: the first one represents the new economy scenario, and the second one represents the financialized monetary circuit during the real estate bubble
- …
