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The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some…
Abstract
Purpose
The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.
Design/methodology/approach
The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.
Findings
The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.
Originality/value
In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.
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Western economics came into being with the rise of the capitalist market economy. It had a nature of duality beginning from its birth: the justificativeness of providing…
Abstract
Purpose
Western economics came into being with the rise of the capitalist market economy. It had a nature of duality beginning from its birth: the justificativeness of providing theoretical pillars for the capitalist market economy system and the scientificity of revealing the internal relations and operating rules of the capitalist market economy. The paper aims to discuss this issue.
Design/methodology/approach
However, after the 1830s, this justificativeness gradually evolved into vulgarity. Since the 1930s, modern western mainstream economics has mainly explored the general market economy on the assumption that the capitalist system remains unchanged, and many outcomes of such research are positive and beneficial.
Findings
Political economy of socialism with Chinese characteristics, at the present stage, is mainly a Chinese socialist market economics. It is guided by the Marxist political economy and rooted in the great practice of China’s reform and opening up and socialist modernization.
Originality/value
According to political complexion, western economic theories can be divided into political economic theory, mainstream economic theory and basic economic theory. By subjecting these theories to what we term “elimination,” “transformation” and “transplantation” surgeries, respectively, we can absorb and accommodate their beneficial elements in building a political economy of socialism with Chinese characteristics, which in turn is conducive to the development and prosperity of such an economy.
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Fetishism has been often linked to misrecognition and false belief, to one being “ideologically duped” so to speak. But could we think that fetishism may be precisely the very…
Abstract
Purpose
Fetishism has been often linked to misrecognition and false belief, to one being “ideologically duped” so to speak. But could we think that fetishism may be precisely the very opposite? The purpose of this paper is to explore the potential of this at first sight counterintuitive notion. It locates the problem of fetishism at the crux of the problem of disavowal and argues that one needs to distinguish between a disavowal – marked by cynical knowledge – and fetishistic disavowal, which can be understood as a subcategory of the same belief structure of ideology.
Design/methodology/approach
This conceptual paper is based on literature review and utilizes examples from the author’s ethnographic fieldworks in India (2008-2013) and central Europe (2015-2019).
Findings
The paper provides a new insight into the structure of fetishism, relying on the psychoanalytic structure of disavowal, where all disavowal is ideological, but not all disavowal is fetishistic, thereby positing a crucial, often unacknowledged distinction. Where disavowal follows the structure “I know quite well how things are, but still […],” fetishistic disavowal follows the formula: “I don’t only know how things are, but also how they appear to me, and nonetheless […].”
Originality/value
The paper develops an original conceptualization of fetishism by distinguishing ideological disavowal from fetishistic disavowal.
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Modern academic links between leadership and strategy were forged in the early 1960s with the heightened application of strategy to business planning. These links were soon…
Abstract
Modern academic links between leadership and strategy were forged in the early 1960s with the heightened application of strategy to business planning. These links were soon dissolved by the strategy consultants who came to dominate the field of business strategy in the mid-1960s. The consultants dismissed the role of leadership in strategic planning in favor of objective analyses of the external environment that eliminated any need for leadership skills, judgment, values, or intuition. Failures to implement strategy in the 1980s led to limited roles for leaders in implementing strategies they had no role in creating, but the gulf between leadership and strategy has steadily widened.
This paper traces the consequences of this widening gulf for teaching leadership and strategy in the classroom. It explores how an integrated approach to teaching leadership and strategy would better prepare today’s students for the challenges they will face as future business leaders.
It is rather common for China’s current academic circles to use western doctrines that originated in situ to explain China’s economic problems, a suspicion of scenario…
Abstract
Purpose
It is rather common for China’s current academic circles to use western doctrines that originated in situ to explain China’s economic problems, a suspicion of scenario misplacement may thus arise. The root cause lies in the lack of reflection about the current relationship between economic thoughts and realities. The paper aims to discuss these issues.
Design/methodology/approach
Correctly understanding economic thoughts associated with the brand of “that era” and effectively deducing its characteristics is of great significance to finding new features of this era and constructing new ideas with the characteristics of “this era.”
Findings
This motif is exactly the keynote on which to base the study of economic history and economic thought.
Originality/value
In a period of major historical turning points, the economic realities on which the economic thinking about that era (the era of economists) relied was undergoing major changes, and re-emphasizing the ancient topic of the relationship between economic thoughts and economic realities became particularly urgent.
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Rajneesh Narula and Khadija van der Straaten
Whether by direct or indirect action (or by inaction), multinational enterprises (MNEs) can have both a positive and a negative effect on within-country social and economic…
Abstract
Purpose
Whether by direct or indirect action (or by inaction), multinational enterprises (MNEs) can have both a positive and a negative effect on within-country social and economic inequality. This paper aims to comment on this multifaceted relationship between MNEs and within-country inequality.
Design/methodology/approach
Given the absence of either robust theory or evidence in the neglected realm of MNEs and within-countries inequalities, this paper offers some general observations, highlights some of the key issues and illustrates possible avenues for future research studies.
Findings
The capacity of MNEs to upgrade economic activity in the host country is a key policy objective. MNEs have arguably contributed to reducing income inequalities between countries. However, the limited evidence available suggests that the gains of FDI are rarely evenly distributed within recipient countries, and many of the underlying dynamics need further investigation.
Social implications
The authors broaden the engagement with inequality beyond income levels, as this is just one aspect of inequality that shapes or impedes human development. They believe it is necessary – for both MNEs and policymakers – to have a more nuanced understanding of how, and under what circumstances, the presence of MNEs affects inequality in host economies.
Originality/value
This paper relates the large literature on inequality (going beyond the mainstream focus on income inequality) to the mainstream understanding of MNE-assisted development.
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This paper considers the role of nonhuman animals in the thought of Donna Haraway, going from her critique of the animal as model/mirror for the evolution of the human body…
Abstract
Purpose
This paper considers the role of nonhuman animals in the thought of Donna Haraway, going from her critique of the animal as model/mirror for the evolution of the human body politic to her proposal for a “compost” society. It demonstrates her changing positions in relation to the social role of animals and the deepening of her critique of intersectional relations that subordinate nonhuman animals and animalized people.
Design/methodology/approach
The paper intertwines a loosely historical approach and a thematic one, focusing on key issues of sociological theory, such as work, agency and kinship, and the way these relate to the animal question in Haraway's writings. Her texts are discussed both broadly and in-depth, and her positionality in terms of both feminism and antispeciesism is foregrounded.
Findings
The paper shows how the progressive abandonment of a posthuman approach in favor of a compostist one brings Haraway nearer to intersectional ecofeminism and to a fuller consideration of nonhuman agency at a material level, as well as to a deeper critique of instrumental relations of domination and issue that had been problematic in critiques of her earlier work.
Social implications
The paper highlights the role of nonhumans in the evolution and constitution of societies and advocates a response-able multispecies politics.
Originality/value
This paper offers a comprehensive analysis of the social role of animals in Haraway's thought and the deepening antispeciesism of her feminist approach that sheds a different light on her positionality in relation to ecofeminism.
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