The Politics of National Capitalism

The Politics of National Capitalism PDF

Author: James P. Brennan

Publisher: Penn State Press

Published: 2015-08-26

Total Pages: 230

ISBN-13: 027107373X

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In mid-twentieth-century Latin America there was a strong consensus between Left and Right—Communists working under the directives of the Third International, nationalists within the military interested in fostering industrialization, and populists—about the need to break away from the colonial legacies of the past and to escape from the constraints of the international capitalist system. Even though they disagreed about the desired end state, Argentines of all political stripes could agree on the need for economic independence and national sovereignty, which would be brought about through the efforts of a national bourgeoisie. James Brennan and Marcelo Rougier aim to provide a political history of this national bourgeoisie in this book. Deploying an eclectic methodology combining aspects of the “new institutionalism,” the “new economic history,” Marxist political economy, and deep research in numerous, rarely consulted archives into what they dub the “new business history,” the authors offer the first thorough, empirically based history of the national bourgeoisie’s peak association, the Confederación General Económica (CGE), and of the Argentine bourgeoisie’s relationship with the state. They also investigate the relationship of the bourgeoisie to Perón and the Peronist movement by studying the history of one industrial sector, the metalworking industry, and two regional economies—one primarily industrial, Córdoba, and another mostly agrarian, Chaco—with some attention to a third, Tucumán, a cane-cultivating and sugar-refining region sharing some features of both. While spanning three decades, the book concentrates most on the years of Peronist government, 1946–55 and 1973–76.

Political Capitalism

Political Capitalism PDF

Author: Randall G. Holcombe

Publisher: Cambridge University Press

Published: 2018-07-19

Total Pages: 305

ISBN-13: 1108596126

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Problems associated with cronyism, corporatism, and policies that favor the elite over the masses have received increasing attention in recent years. Political Capitalism explains that what people often view as the result of corruption and unethical behavior are symptoms of a distinct system of political economy. The symptoms of political capitalism are often viewed as the result of government intervention in a market economy, or as attributes of a capitalist economy itself. Randall G. Holcombe combines well-established theories in economics and the social sciences to show that political capitalism is not a mixed economy, or government intervention in a market economy, or some intermediate step between capitalism and socialism. After developing the economic theory of political capitalism, Holcombe goes on to explain how changes in political ideology have facilitated the growth of political capitalism, and what can be done to redirect public policy back toward the public interest.

State Capitalism

State Capitalism PDF

Author: Joshua Kurlantzick

Publisher: Oxford University Press

Published: 2016-03-08

Total Pages: 297

ISBN-13: 0199385726

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The end of the Cold War ushered in an age of American triumphalism best characterized by the "Washington Consensus:" the idea that free markets, democratic institutions, limitations on government involvement in the economy, and the rule of law were the foundations of prosperity and stability. The last fifteen years, starting with the Asian financial crisis, have seen the gradual erosion of that consensus. Many commentators have pointed to the emergence of a powerful new rival model: state capitalism. In state capitalist regimes, the government typically owns firms in strategic industries. Not beholden to private-sector shareholders, such firms are allowed to operate with razor-thin margins if the state deems them strategically important. China, soon to be the world's largest economy, is the best known state capitalist regime, but it is hardly the only one. In State Capitalism, Joshua Kurlantzick ranges across the world--China, Thailand, Brazil, Russia, South Africa, Turkey, and more--and argues that the increase in state capitalism across the globe has, on balance, contributed to a decline in democracy. He isolates some of the reasons for state capitalism's resurgence: the fact that globalization favors economies of scale in the most critical industries, and the widespread rejection of the Washington Consensus in the face of the problems that have plagued the world economy in recent years. That said, a number of democratic nations have embraced state capitalism, and in those regimes, state-backed firms like Brazil's Embraer have enjoyed considerable success. Kurlantzick highlights the mixed record and the evolving nature of the model, yet he is more concerned about the negative effects of state capitalism. When states control firms, whether in democratic or authoritarian regimes, the government increases its advantage over the rest of society. The combination of new technologies, the perceived failures of liberal economics and democracy in many developing nations, the rise of modern kinds of authoritarians, and the success of some of the best-known state capitalists have created an era ripe for state intervention. State Capitalism offers the sharpest analysis yet of what state capitalism's emergence means for democratic politics around the world.

New Capitalism in Turkey

New Capitalism in Turkey PDF

Author: Ayşe Buğra

Publisher: Edward Elgar Publishing

Published: 2014-04-25

Total Pages: 221

ISBN-13: 1783473134

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New Capitalism in Turkey explores the changing relationship between politics, religion and business through an analysis of the contemporary Turkish business environment.

State Capitalism, Contentious Politics and Large-Scale Social Change

State Capitalism, Contentious Politics and Large-Scale Social Change PDF

Author: Vincent Pollard

Publisher: BRILL

Published: 2011-03-22

Total Pages: 251

ISBN-13: 9004194452

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Through a careful analysis of the former Soviet Union and China, and South Asian societies of India and the Phillipines, this volume examines the creation of a state capitalism, its roll in economic development, and its impact on social change.

Reinventing State Capitalism

Reinventing State Capitalism PDF

Author: Aldo Musacchio

Publisher: Harvard University Press

Published: 2014-04-22

Total Pages: 358

ISBN-13: 0674419596

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The wave of liberalization that swept world markets in the 1980s and 90s altered the ways that governments manage their economies. Reinventing State Capitalism analyzes the rise of new species of state capitalism in which governments interact with private investors either as majority or minority shareholders in publicly-traded corporations or as financial backers of purely private firms (the so-called “national champions”). Focusing on a detailed quantitative assessment of Brazil’s economic performance from 1976 to 2009, Aldo Musacchio and Sergio Lazzarini examine how these models of state capitalism influence corporate investment and performance. According to one model, the state acts as a majority investor, granting the state-owned enterprise (SOE) financial autonomy and allowing professional management. This form, the authors argue, has reduced many agency problems commonly faced by state ownership. According to another hybrid model, the state uses sovereign wealth funds, holding companies, and development banks to acquire a small share of equity ownership in a corporation, thereby potentially alleviating capital constraints and leveraging latent capabilities. Both models have benefits and costs. Yet neither model has entirely eliminated the temptation of governments to intervene in the operation of natural resource industries and other large strategic enterprises. Nevertheless, the longstanding debate over whether private ownership is superior or inferior to state capitalism has become irrelevant, Musacchio and Lazzarini conclude. Private ownership is now mingled with state capital on a global scale.

Capitalism, Alone

Capitalism, Alone PDF

Author: Branko Milanovic

Publisher: Harvard University Press

Published: 2021-09-07

Total Pages: 305

ISBN-13: 0674260309

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For the first time in history, the globe is dominated by one economic system. Capitalism prevails because it delivers prosperity and meets desires for autonomy. But it also is unstable and morally defective. Surveying the varieties and futures of capitalism, Branko Milanovic offers creative solutions to improve a system that isn’t going anywhere.

State Capitalism In Eurasia

State Capitalism In Eurasia PDF

Author: Spechler Martin C

Publisher: World Scientific

Published: 2017-06-16

Total Pages: 156

ISBN-13: 9813149396

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This is the first book to specify the type of economic system that has arisen in Central Asia, replacing the simplistic ideas of "petro-state" or "resource dependent." The book presents three types of state capitalism now established in the former Soviet Union states of Eurasia — crony, dual-sector, and predatory capitalism. It provides first-hand research based on extensive interviewing in the native languages in five of the six. From the political economic perspective, it surveys the source of resources for these authoritarian regimes, their decision-making, and the disposition of government funds, including corruption.

Global Capitalism

Global Capitalism PDF

Author: Robert J. S. Ross

Publisher: State University of New York Press

Published: 1990-07-05

Total Pages: 324

ISBN-13: 1438418051

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How have global markets and global manufacturing changed the balance of social, economic and political power? With this volume Ross and Trachte challenge existing political-economic theory. In concise terms they show how traditional theories of monopoly capitalism and world systems are not well-suited to analyze the emergence of global capitalism. This book, in a series of case studies of U.S. metropolitan areas, examines the dramatic transformation of the world economy in the last two decades. The book's last section examines political strategy and the political theory implied by the heightened power of capital.