The main purpose of this paper is first to discern the overwhelming influence of Kantian thought in the development of mainstream political economic doctrines. In this we will…
Abstract
The main purpose of this paper is first to discern the overwhelming influence of Kantian thought in the development of mainstream political economic doctrines. In this we will show that the Kantian philosophical influence has introduced an abiding element of duality in all matters of the western liberal theory of social contract and political economy. The nature of Kantian moral philosophy will be shown to have left the study of political economy by and large ethically neutral by treating the role of morals, ethics and values exogenously to the economic system. We will then introduce some substantive elements of an alternative approach to the treatment of ethics and values in the socio‐economic system. We will show that in the alternative approach to the study of social contract theory and political economy the ethical considerations appear as endogenous elements and strongly negate the Kantian principle of duality and individualistic rationalism.
Andrew Farrant and Maria Pia Paganelli
Can we model politics as exclusively based on self-interest, leaving virtue aside? How much romance is there in the study of politics? We show that James Buchanan, a founder of…
Abstract
Can we model politics as exclusively based on self-interest, leaving virtue aside? How much romance is there in the study of politics? We show that James Buchanan, a founder of public choice and constitutional political economy, reintroduces a modicum of romance into politics, despite claiming that his work is the study of “politics without romance”: Buchanan’s model needs an ethical attitude to defend rules against rent-seeking.
We claim that Adam Smith, more than David Hume, should be considered one of the primary intellectual influences on Buchanan’s public choice and constitutional political economy. It is commonly believed that Hume assumes in politics every man ought to be considered a knave, making him an influence on Buchanan’s idea of politics without romance. Yet, it is Smith who, like Buchanan, describes rent-seeking and suggests that public virtues may be the remedy through which good rules maintaining liberty and prosperity can be generated and enforced. Smith, like Buchanan, rejects sole reliance on economic incentives: the study of politics needs some romance.
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From well before the mid-19th up to the mid-20th century those scholars who read and commented on The Essential Principles of the Wealth of Nations, including Marx and Seligman…
Abstract
From well before the mid-19th up to the mid-20th century those scholars who read and commented on The Essential Principles of the Wealth of Nations, including Marx and Seligman, seem to have been unaware of the very name of its author. Since then it has become accepted knowledge (again) that the work was written by one John Gray. Beyond the name, however, biographical details about Gray have remained extremely sparse until the present day. If one were to use a measure of obscurity, something which perhaps is appropriate in a work devoted to ‘neglected economists’, then one may use the fact that neither the Oxford Dictionary of National Biography (old or new editions), nor the Palgrave Dictionary of Economics (any edition), nor any other biographical dictionaries devote an entry to Gray. The modern authors who discuss his economic writings contend themselves with the statement that ‘little biographical information is available about Gray’ (Delmas & Demals, 1995, p. 119, n. 5).1 This is unfortunate because at least some knowledge about the personal background and career of an author is often useful in arriving at a better understanding of his or her ideas. This, as will become clear shortly, is the case too for John Gray.
Income and wealth in Brazil is distributed as unequally and unjustly as in any other nation or region of the world. This chapter examines how wealth and income has been, is, or…
Abstract
Income and wealth in Brazil is distributed as unequally and unjustly as in any other nation or region of the world. This chapter examines how wealth and income has been, is, or might be made available to the population. Using the conceptual framework of the substantive economics developed by Karl Polanyi, Conrad Arensberg, and their colleagues, the distribution of goods and services is analyzed as a socially “instituted process,” separate from production and other factors generally included in studies of economics. Four approaches are presented as they were elaborated in the thinking of authors who wrote at different times in history: The Infante Dom Pedro of Portugal in the early 15th century, Adam Smith in the late 18th century, Karl Marx in the 19th century, and Louis Kelso in the mid-20th century. Each approach, three of which have been, and one which might be instituted, is explored in terms of its potential for reducing poverty and correcting distributive injustice.
Sheila Riddell, Lyn Tett, Hazel Christie, Rachael King and Sofia Shan
Although scientific interest in work motivations dates back at least to Adam Smith who, in his Wealth of Nations, examined “The Causes of the Improvement in the Productive Powers…
Abstract
Although scientific interest in work motivations dates back at least to Adam Smith who, in his Wealth of Nations, examined “The Causes of the Improvement in the Productive Powers of Labour”, the appearance of Maslow's theory of a hierarchy of human needs offered a useful framework and explanation for many studies of work incentives. Maslow postulated a series of pre‐potent needs, each of which assumed potency as the previous need was relatively satisfied. With physiological needs as the most fundamental, or originally most potent, self‐actualisation was described as the final, or highest, need.
Carlos M. Jardon and Xavier Martinez–Cobas
Small-scale forestry-based enterprising communities are particularly associated with their territory and, therefore, are very conditioned by the local culture. This paper aims to…
Abstract
Purpose
Small-scale forestry-based enterprising communities are particularly associated with their territory and, therefore, are very conditioned by the local culture. This paper aims to explore the relationship between culture and competitiveness in small-scale Latin-American forestry-based enterprising communities.
Design/methodology/approach
This study used 212 surveys in companies linked to the production, industrialisation and commercialisation sector of the forestry industry in the province of Misiones (Argentina), using partial least squares to analyse the relationships thereof.
Findings
Culture and competitive advantages improve the growth of small-scale timber businesses and growth, in turn, increases financial performance. However, culture does not have an impact on competitive advantage and no interaction effect of culture on competitive advantage was detected. The results can indicate that there might be a need to incorporate other concepts and operationalisation that are better suited to the geographical and industrial contexts in developing countries.
Research limitations/implications
The literature and measures used to operationalise variables in the survey did not necessarily succeed in capturing the culture in the studied small- and medium-sized enterprises. In addition, the design of the sample and subjective measures may partially condition the results.
Practical implications
For business managers and consultants, this study indicates that they must take into account the local culture to improve performance. Entrepreneurs must reorient the company strategy towards the long term, integrating local culture into their strategy to generate competitive advantages.
Social implications
Political authorities and social agents should also take into consideration the cultural aspects of the territory when implementing regulations and specific actions to improve the industry and strengthen the sense of community. The results highlight the vitality of animators and development agencies and of any factor that fosters social cohesion.
Originality/value
The paper shows a new approach to the relationship between culture and competitiveness in small-scale forestry-based enterprising communities, combining performance in a formal sector with the bazaar model.
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There are more scholars teaching and actively engaged in research associated with the Austrian School of Economics now than at any other time in its history. However, there is…
Abstract
There are more scholars teaching and actively engaged in research associated with the Austrian School of Economics now than at any other time in its history. However, there is still something seriously wrong within the Austrian School and changes must be made both individually and collectively. In this piece, the author first discusses scientific progress with an emphasis on the individual behavior that is required to contribute to science, and the horizontal relationships that are required for the spread of ideas within a scientific community. Next, the author discusses the example of the Austrian school from 1950 to today in terms of these horizontal relationships within the profession and, in particular, in comparison with other mainline contributors during the same time period. The author then will address the multiplicity of horizontal relationships that might be explored as alternative discourse communities in the contemporary intellectual landscape. Lastly, the author concludes that the Austrian School of Economics must cultivate an explicit awareness of plausible, intrinsically interesting, and creative research agendas, and must therefore regard their work as a productive input into the ongoing research production of others within the broader community of economists and political economists.
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Channing Arndt, Sam Jones and Finn Tarp
We consider the relationship between external aid and development in Mozambique from 1980–2004, identifying the specific mechanisms through which aid has influenced the…
Abstract
We consider the relationship between external aid and development in Mozambique from 1980–2004, identifying the specific mechanisms through which aid has influenced the developmental trajectory of the country. We undertake both a growth accounting analysis and review the intended and unintended effects of aid at the micro-level. Sustained aid flows to Mozambique, in conflict and post-conflict periods, have made an unambiguous, positive contribution to rapid growth since 1992. However, proliferation of donors and aid-supported interventions has burdened local administration, indicating a need for deeper domestic government accountability. To sustain growth, Mozambique must maximize benefits from natural resources while promoting constructive international market integration.