The law of political economy is a contentious ideological field characterised by antagonistic relations between scholarly positions which tend to be either affirmative or critical of capitalism. Going beyond this schism, two particular features appear as central to the law of political economy: the first one is the way it epistemologically seeks to handle the distinction between holism and differentiation, i.e., the extent to which it sees society as a singular whole which is larger than its (...) parts, or, rather, as a mere collection of parts. Different types of legal and political economy scholarship have given different types of answers to this question. The second feature of the law of political economy is the way in which it conceives of the relation between hierarchical and spontaneous dimensions of society, i.e., between firms and the market, or between public institutions and public opinion. The two distinctions can, however, be overcome through a third-way, emphasising the strategic role of law in mediating between holism and differentiation and hierarchy and spontaneity. This is demonstrated through a historical re-construction of the evolution of corporatist, neo-corporatist, and governance-based institutional set-ups of political economy. (shrink)

This article outlines a new approach to the law of political economy as a form of transformative law, a new approach that combines a focus on the function of law with a concept of law encapsulating the triangular dialectics between the form-giving prestation of law, the material substance the law is oriented against, and the transcendence of legal forms—that is, the rendering of compatibility between forms. Transformative law thereby serves as an alternative to both law and economics and (...) recently emerging culturalist and neo-Marxist approaches. The timing of this publication is not coincidental. The era of neoliberalism—that is, of structural liberalism, which started in the 1970s and experienced its breakthrough in the 1980s and 1990s after the collapse of structural Marxism—is ending. This makes the question of what will succeed the neoliberal episteme pertinent. (shrink)

This book develops the law of political economy as a new field of scholarly enquiry. Bringing together an exceptional group of scholars, it provides a novel conceptual framework for studying the role of law and legal instruments in political economy contexts, with a focus on historical transformations and central challenges in both European and global contexts. Its chapters reconstruct how the law of political economy plays out in diverse but central fields, ranging from competition (...) and consumer protection law to labour and environmental law, giving a comprehensive overview of the central challenges of the law of political economy. It also provides a sophisticated and multifaceted framework for further enquires while outlining the contours of new law of political economy. (shrink)

What comes after neoliberalism? This is in many ways the question of our time. Or maybe neoliberalism doesn’t really exist at all? And if it does, what is the relevance for lawyers, legal scholarship and legal practice?

After ratifying the Framework Convention for Tobacco Control in 2004, Bangladesh enacted anti-tobacco laws, policies, and administrative measures. Evidence suggests that the progress so far has not been significant, and Bangladesh will most likely fail to meet its target to become tobacco-free by 2040. This study undertakes a national-level political economy analysis to explore the dynamics that affect the processes of required tobacco policy reforms and implementation. Based on a desk review of pertinent pieces of literature and key (...) informant interviews, this research examines the political behavior of key individuals, institutional reform initiatives, and the government’s commitment to the tobacco control agenda. The findings indicate that the political will of becoming tobacco-free is explicitly present in key narratives. However, intra-government conflict of interests and incentives, the skewed commitment of government bodies, state-business nexus, incapacity of vital organizations, and the dubious role of key individuals and committees fail to translate this will into active implementation. The article concludes that the idea of tobacco control remains a strategic accommodation, and its implementation requires genuine commitment and wider public support. The government must confer adequate authority and resources to the national tobacco control cell and call for agencies to convene to the common of creating a tobacco-free Bangladesh. (shrink)

The 2010s were a golden age of information privacy research, but its policy accomplishments tell a mixed story. Despite significant progress on the development of privacy theory and compelling demonstrations of the need for privacy in practice, real achievements in privacy law and policy have been, at best, uneven. In this chapter, I outline three broad shifts in the way scholars (and, to some degree, advocates and policy makers) are approaching privacy and social media. First, a change in emphasis from (...) individual to structural approaches. Second, increasing attention to the political economy of privacy—especially the business models of information companies, such as social media platforms. And third, a deeper understanding of privacy’s role in a healthy digital public sphere. (shrink)

Criticisms of John Locke as a ‘bourgeois’ or ‘possessive individualist’ have been hotly contested since their appearance in the 1950s and 1960s. Locke's defenders have countered that his economic thought was governed by doctrines of charity, community and the public good. This project of recovering a kinder, gentler Locke has brought with it an emphasis on the centrality of Grotius and Pufendorf to seventeenth-century discussions of natural law. Still, the emergence of the ‘Grotius-Pufendorf thesis’ may have eclipsed other sources of (...) Locke's political economy. I will suggest that Locke's writings on trade and economic accumulation are better understood in light of a seventeenth-century economic discourse of pamphlets, tracts and sermons rooted in the practical theology of Calvinism. (shrink)

Is the virtue of the good citizen the same as the virtue of the good man? Aristotle addresses this in Politics 3.4. His answer is twofold. On the one hand, (the account for Difference) they are not the same both because what the citizen’s virtue is depends on the constitution, on what preserves it, and on the role the citizen plays in it, and because the good citizens in the best constitution cannot all be good men, whereas the good man’s (...) virtue is uniform. On the other hand, (the account for Identity) the two virtues are identical in the good men in the best constitution, in which all are good citizens, each possessing the ability for ruling and for being ruled. This nuanced answer can be seen as Aristotle’s synthesis of a Periclean view (contribution to state blots out personal wrongs) and a Socratic view (no good citizen is without justice). Its nuances reflect the extent to which Aristotle’s conceptions of good citizenship and the best constitution accommodate deviations of what is probable from the human ideal set out in his ethical writings. In the present chapter, I will first address three puzzles regarding the nuances of Aristotle’s answer. Second, I will consider one question about its implication: Does Aristotle’s account for Difference turn out to entail something ultra-Periclean: that no one can simultaneously be a good man and a good citizen in any constitution other than the best? I shall argue the negative. (shrink)

It started and ended in Chile! This might be the introductory sentence to an economic history of our times. After the 1973 military coup the “Chicago Boys”, a group of Chilean economists educated by Milton Friedman at University of Chicago, took control of Pinochet’s economic policy. A type of policy which later on entered government offices in the UK and the US together with Margaret Thatcher and Ronald Reagan. Today protesters on the streets of Santiago seeks to tear down the (...) core pillars of the paradigm installed by the Chicago boys. Looking at broader developments, the essential driver of change over the past four decades have however not been an economic one but rather a legal one. Or rather the essential change has been the economics discipline acting as an invasive species entering into the realm of law though the law and economics paradigm. (shrink)

The purpose of this paper is to provide an analysis of the discipline of political economy, international political economy and their respective historical developments. The paper will then focus on globalization and evaluate the strength and weaknesses of the policy to globalize. Further analysis will be conducted to show the importance of the topic of globalization as it relates to public finance. Rosen & Gayer (2014), Sackery, Schneider & Knoedler (2016), Marlin-Bennett (2017), Ravenhill (2008) and Weingast (...) & Witman (2006) will provide insights into the development of the discipline and its modus operendi. The historical development of the discipline will be provided for by Ingram (1915) and the aforementioned authors will also provide insights into the weakness and strengths of the policy to globalize. Garett & Mitchell (2001) and Kumar (2006) will provide additional insights into the importance of globalization as it pertains to public finance. (shrink)

Preface to the Hebrew Translation of Karl Marx's Introduction and Preface to the Critique of Political Economy .

Over the past decades, the idea that national sovereignty and the authority of the state have been increasingly challenged or even substantially eroded has been a dominant one. Economic globalization advancing a neo-liberal dis-embedding of the economy is seen as the major reason for this erosion. Concerns have increased about the negative consequences for the social fabric of societies, deprived of the strong shock absorption capacity that the welfare states had established in the time of the embedded liberalism to (...) use a term John Ruggie coined. The concerns have also helped nationalistic movements to gain power in many high-income countries, not at least in the United States, calling for putting their economy first. Accordingly, a number of commentators have announced a return of the nation state. In this special issue, we will show that the retreat-of-the-state thesis as well as the return-of-the-state thesis shares the same shortcomings. They conflate state and authority. As a consequence, both theses underestimate important transformations of authority that have taken place since the end of the “short 20TH century,” to use Eric Hobsbawm's periodization. With this special issue, we seek to contribute to a more nuanced analysis of the transformation of authority. The issue is the outcome of a conference that took place at the Copenhagen Business School in 2015, hosted by the research project ‘Institutional Transformation in European Political Economy: A Socio-Legal Approach’ and funded by the European Research Council. (shrink)

Online technologies enable vast amounts of data to outlive their producers online, thereby giving rise to a new, digital form of afterlife presence. Although researchers have begun investigating the nature of such presence, academic literature has until now failed to acknowledge the role of commercial interests in shaping it. The goal of this paper is to analyse what those interests are and what ethical consequences they may have. This goal is pursued in three steps. First, we introduce the concept of (...) the Digital Afterlife Industry, and define it as an object of study. Second, we identify the politico-economic interests of the DAI. For this purpose, we develop an analytical approach based on an informational interpretation of Marxian economics. Third, we explain the practical manifestations of the interests using four real life cases. The findings expose the incentives of the DAI to alter what is referred to as the “informational bodies” of the dead, which in turn is to be seen as a violation of the principle of human dignity. To prevent such consequences, we argue that the ethical conventions that guide trade with remains of organic bodies may serve as a good model for future regulation of DAI. (shrink)

In the course of the eighteenth and nineteenth centuries the paradigm of a new science, political economy, was established. It was a science distinct from the Aristotelian sub-disciplines of practical philosophy named oikonomía and politiké, and emphasis on its character of science not unlike the natural sciences – still called ‘natural philosophy’ – mirrored precisely a willingness to stress its autonomy from two other sub-disciplines of practical philosophy, that is, ethics and politics. However, the new science resulted from (...) a transformation of part of traditional practical philosophy, allowing the inclusion of bodies of knowledge accumulated by experts of commerce and public finance. Such bodies of knowledge were unified by the (true or alleged) discovery of regularities, mechanisms, causal connections making for a new partial order within the overall social order. How far this paved the way to a science similar to mathematics rather left a normative discipline as alive as ever was a recurrent question for at least a century, until the marginalist revolution opened the way for a sharp division, leaving ‘economics’ as a science of causes and effects facing ‘economic policy’ as a discourse on ends. (shrink)

This article addressed historical aspects of the political economy involving sustained forest ecology in Sierra Leone as a whole, with emphasis on the Freetown Peninsula and its surrounding communities. Attention is paid to cultural, social and economic aspects involving forest livelihoods of residents on the Freetown Peninsula and far afield. The term 'Political Economy' is used in this situation to denote the relationship between the economics of people's livelihoods and public policy (in relation to the management (...) of legislative procedures) in ensuring that resources in the forest environment is sustainably managed to cater for the livelihood needs of people in Sierra Leone, while at the same time maintaining a balance in protecting the forest ecosystems. The paper has provided a critical review of the political economy of forest ecology in the country on the basis of scholarly discourses, and its applicability in adapting to the fragile political administrative management Sierra Leone have (and is continuing to) experienced. (shrink)

In the western context, law has two functions. It upholds normative expectations and it transforms social phenomena. The latter is expressed through the form-giving function of law as law designates particular social phenomena as, for example, economic, political or religious. Inside such overarching categories, further subcategories can moreover be observed. In relation to economic processes, the legal institutions of competition, contract, corporation and property are, for example, classical examples of the form-giving function of law. The dual function of law (...) is briefly illustrated through a genealogy of imaginaries of law distinguishing between four historically dominant types of law: ‘Law as purpose’; ‘law as a tool’; ‘law as an obstacle’; and ‘law as reflexivity-initiation’. On this background, ten core dimensions of what might become a new episteme of transformative law are fleshed out with the aim of answering the question to what extent it can act as an alternative to the previous four types of law. (shrink)

Over the past decades, the idea that national sovereignty and the authority of the state have been increasingly challenged or even substantially eroded has been a dominant one. Economic globalization advancing a neo-liberal dis-embedding of the economy is seen as the major reason for this erosion. Concerns have increased about the negative consequences for the social fabric of societies, deprived of the strong shock absorption capacity that the welfare states had established in the time of the embedded liberalism to (...) use a term John Ruggie coined. The concerns have also helped nationalistic movements to gain power in many high-income countries, not at least in the United States, calling for putting their economy first. Accordingly, a number of commentators have announced a return of the nation state. In this special issue, we will show that the retreat-of-the-state thesis as well as the return-of-the-state thesis shares the same shortcomings. They conflate state and authority. As a consequence, both theses underestimate important transformations of authority that have taken place since the end of the “short 20TH century,” to use Eric Hobsbawm's periodization. With this special issue, we seek to contribute to a more nuanced analysis of the transformation of authority. The issue is the outcome of a conference that took place at the Copenhagen Business School in 2015, hosted by the research project ‘Institutional Transformation in European Political Economy: A Socio-Legal Approach’ and funded by the European Research Council. (shrink)

Throughout its history the European integration process has not undermined but rather strengthened the autonomy of Member States vis-à-vis wider societal interests in relation to political economy, labour markets and social provisions. Both the ‘golden age nation state’ of the 1960s as well as the considerable transformations of Member State political economies over the past decades, and especially after the euro-crisis, was to a considerable degree orchestrated through transnational, most notably European, arrangements. In both cases the primary (...) objective has been to strengthened state capacities of public power and law against the encroachment of private interests into the state. In spite of this continuity considerable changes can however be observed in the substantial economic policies advanced due to the switch from a Keynesian to a monetarist economic paradigm. It is suggested that the debate on constitutional imbalances between the EU’s economic and social constitutions should be seen in this light. (shrink)

In the modern period, the most original and influential theories about law and politics were developed in connection with a set of far-reaching, interrelated questions about the definition of law, the purpose of law, the relationship between law and morality, and the existence of natural law and natural rights. In this entry I summarize the contributions of Charles-Louis de Secondat, Baron de La Brède et de Montesquieu; William Blackstone; Jeremy Bentham; and Immanuel Kant as exemplars of the history of modern (...) thought on law and politics. (shrink)

In this paper I reconstruct the birth, blossoming and decline of an eighteenth century program, namely “Moral Newtonianism”. I reconstruct the interaction, or co-existence, of different levels: positive theories, methodology, worldviews and trace the presence of scattered items of the various levels in the work of Hume, Adam Smith, Adam Ferguson, Dugald Stewart. I highlight how Mirowski’s reconstruction of the interaction between physics and economics may be extended to the eighteenth century in an interesting way once the outdated reconstruction of (...) Adam Smith that has been adopted by Mirowski is updated. I show how general methodological ideas, such as the distinction between ultimate causes or essences and intermediate principles, that originated in a context where the issue was the interaction between natural science and theology, proved useful when transferred to social theory in encouraging a kind of “experimental” approach to social phenomena. I discuss finally the genesis of frozen metaphors such as equilibrium, circulation, and value, arguing that Canguilhem’s lesson – namely that scientific change is produced not only by similarity but also by opposition – may be applied also to the history of economic thought. I take as an example Adam Smith’s ‘discovery’ of social mechanisms vis-à-vis his sceptical mistrust of neo-Stoic and Platonic views of a world-order. (shrink)

The transition economy of Vietnam enjoyed remarkable achievements in the first 20 years of economic renovation (Doi Moi) from 1986 to 2006. Notably, the economy grew at an average annual rate of 7.5% in 1991-2000 period. Vietnam’s Amended Constitution 1992 recognized the role of private sector in the economy. U.S.-Vietnam Trade Bilateral Agreement (US-BTA) was signed in 2001. The country's stock market made debut trading in 2000. Vietnam became a member of Association of Southeast Asian Nations (ASEAN) (...) in 1995, then proceeded to full membership of the World Trade Organization in 2007, following which registered foreign direct investment (FDI) reached an all-time high of US$71.7 billion in 2008. Together with the impressive economic achievements, Vietnam also saw its diplomatic and political status constantly improved in the international arena. The country has established diplomatic relations with more than 170 countries in the world, strategic partnerships with 12 important economies, both developed and emerging, namely China, Japan, Russia, India, England, France, North Korea, Italy, Germany, Indonesia, Malaysia and Thailand. The country also successfully hosted important events including the Asia Pacific Economic Cooperation (APEC) in 2006. (shrink)

This article focuses on five flaws of Christian Fuchs’ approach of Web 2.0 economy. Here, Fuchs’ views on immaterial production, productivity of labor, commodification of users’ data, underestimation of financial aspects of digital economy, and the violation of Marx’s laws of value production, rate of exploitation, fall tendency of profit rate, and overproduction crisis are put into question. This article defends the thesis Fuchs fails to apply Marxian political economy to the contemporary phenomena of Web 2.0 (...) economy. It is possible to avoid Fuchs’ errors, and another approach is possible to remake Marxism relevant for an analysis of the new media economy. (shrink)

By reconstructing the eighteenth-century movement of the Italian Enlightenment, I show that Italy’s political fragmentation notwithstanding, there was a constant circulation of ideas, whether on philosophical, ethical, political, religious, social, economic or scientific questions—among different groups in various states. This exchange was made possible by the shared language of its leading illuministi— Cesare Beccaria, Ludovico Antonio Muratori, Francesco Maria Zanotti, Antonio Genovesi, Mario Pagano, Pietro Verri, Marco Antonio Vogli, and Giammaria Ortes—and resulted in four common traits. First, the (...) absence of a radical trend, such as the French materialist-atheist trend and British Deism, or religious reformation. Second, the rejection of inhumane laws and institutions, capital punishment, torture, war and slavery. Third, the idea of public happiness as the goal of good government and legislation. And fourth, the conception of the economy as a constellation where social capital, consisting of education, morality, and civility, plays a decisive role. I conclude that the Italian Enlightenment, not unlike the Scottish Enlightenment, was both cosmopolitan and local, which allowed its leading writers to develop a keen awareness of the complexity of society alongside a degree of prudence regarding the possibility and desirability of its modernization. (shrink)

The relationship between Adam Smith's official methodology and his own actual theoretical practice as a social scientist may be grasped only against the background of the Humean project of a Moral Newtonianism. The main features in Smith's methodology are: (i) the provisional character of explanatory principles; (ii) 'internal' criteria of truth; (iii) the acknowledgement of an imaginative aspect in principles, with the related problem of the relationship between internal truth and external truth, in terms of mirroring of 'real' causes. Smith's (...) Newtonian (as opposed to Cartesian) methodology makes room for progress in social theorizing in so far as it allows for a decentralization of the various fields of the Moral Science, contributing to the shaping of political economy. On the other hand, the Cartesian legacy in Smith's Newtonian methodology makes the relationship between phenomena and theoretical principles highly problematic. (shrink)

In lieu of Abstract: With inequality of various sorts ballooning worldwide, a critique of democracy has come of age, and a change of political ethos is underway. Against this background, the critique of democracy becomes not only possible but also popular, and examples in China and many Western democracies abound. It is no exaggeration to say, in this context, that sufficient momentum has gathered to qualify the situation as "democratic recession," despite people may have different understandings as to the (...) exact nature of this recession and how long it will last. Accompanying this recession, Confucian political meritocracy, whose aim is to correct the wrongs of democracy, is constructed as an alternative to liberal democracy. Many argue that the end of history is not nigh but will continue in and by Confucian political meritocracy... (shrink)

The current economic/political system, neoliberalism, has touched every aspect of life globally. The doctrine of neoliberalism consists of three central propositions, that the market is real and part of the natural universal law; that unlimited economic growth is both possible and even desirable; and that human nature is coincident with market values and based solely on self-interest. All three of these propositions are seriously flawed and have caused immense human suffering and staggering environmental destruction. This paper is a reminder (...) of the failures of neoliberal policy and an appeal for change to a new institutional arrangement in which development trumps economic growth. This position is in contrast to Francis Fukuyama’s end-of-history thesis. He alleges there are no economic/political ideologies to compete with neoliberalism, the “TINA principle: There Is No Alternative”: the West has won. It is time to reintroduce Henry David Thoreau’s, and to a lesser extent, Adam Smith’s moral economies. Both have encourgaging insights, often overlooked by current academic economists, which could figure prominently in the conception of a new economy. (shrink)

Mark Pennington’s Robust Political Economy is a systematic exposition of a framework for analyzing institutional performance. The Robust Political Economy framework evaluates institutions according to their ability to solve knowledge and incentive problems. On grounds of robustness, Pennington combines insights from Austrian market-process theory and public-choice theory to defend classical liberalism from several compelling critiques. These include theories of market failure in economics; communitarian, deliberative-democratic, and liberal-egalitarian theories of justice; and concerns with social capital, domestic and (...) international poverty, and ecology. (shrink)

Is capitalism inherently predatory? Must there be winners and losers? Is public interest outdated and free-riding rational? Is consumer choice the same as self-determination? Must bargainers abandon the no-harm principle? Prisoners of Reason recalls that classical liberal capitalism exalted the no-harm principle. Although imperfect and exclusionary, modern liberalism recognized individual human dignity alongside individuals' responsibility to respect others. Neoliberalism, by contrast, views life as ceaseless struggle. Agents vie for scarce resources in antagonistic competition in which every individual seeks dominance. This (...) political theory is codified in non-cooperative game theory; the neoliberal citizen and consumer is the strategic rational actor. Rational choice justifies ends irrespective of means. Money becomes the medium of all value. Solidarity and good will are invalidated. Relationships are conducted on a quid pro quo basis. However, agents can freely opt out of this cynical race to the bottom by embracing a more expansive range of coherent action. (shrink)

: The theory of objective value is the central feature in the paradigm of political economy. The Newtonian heritage plays a major role in giving political economy the status of a self-standing empirical science, and a reconstruction of this heritage casts fresh light on the idea of value and its role in the definition of the subject matter of political economy. Cognitive progress carried by classical political economy turns out to be related (...) with the dilemmas of Newtonian epistemology and the alternative between essentialist realism and instrumental conventionalism. (shrink)

Community has been both celebrated and demonized as a fortress that shelters and defends its members from being exposed to difference. Instead of abandoning community as an antiquated model of relationships that is ill suited for our globalized world, this book turns to the writings of Giorgio Agamben, Roberto Esposito, and Jean-Luc Nancy in search for ways to rethink community in an open and inclusive manner. Greg Bird argues that a central piece of this task is found in how each (...) philosopher rearticulates community not as something that is proper to those who belong and improper to those who are excluded or where inclusion is based on one’s share in common property. We must return to the forgotten dimension of sharing, not as a sharing of things that we can contain and own, but as a process that divides us up and shares us out in community with one another. This book traces this problem through a wide array of fields ranging from biopolitics, communitarianism, existentialism, phenomenology, political economy, radical philosophy, and social theory. (shrink)

The financial crisis of 2008–2009 presents us with the opportunity to not only understand what has happened in the markets but also to reflect on the purpose of the marketplace. Drawing from expert economic analyses, we first assess the central lesson of the crisis—the failure of self-regulation by rational self-interest to moderate externalized risk in financial markets. Second, we ask the philosophical question occasioned by the crisis concerning the moral meaning of economic activity: Is market exchange solely for the sake (...) of self-interest? Reflecting on the poetry of Kahlil Gibran and engaging with the recent encyclical of Pope Benedict XVI, we turn our attention from political economy to moral economy: the relationships among market exchange, self-interest, and the common good—and, in particular, the prior conditions of market exchange and their moral significance for the present crisis. (shrink)

This article develops a diagnostic lens to make sense of the still baffling development of a ‘humanitarian marketplace’. Ambivalently hybrid initiatives such as volunteer tourism, corporate social responsibility or even fair trade do not strictly obey a distributive logic of market exchange, social reciprocity or philanthropic giving. They engender a type of ‘economy’ that must be apprehended in its own terms. The article argues that the large-scale collaborative effects of such a dispersed market can be theorized without resorting to (...) the classical biopolitical move of simplified agency/holistic reification. The argument proceeds counterintuitively, by appropriating the notion of symbiosis as redefined by contemporary biology, contending through historical contextualization and conceptual work that nature itself offers the best example to grasp spontaneous collaboration among unrelated human beings as a non-automatically balanced and intrinsically political affair that calls for critical management through an ex post facto interventionist policy of selective cultivation. (shrink)

AbstractSome sharing economy firms have adopted a strategy of “regulatory entrepreneurship,” openly violating regulations with the aim of rendering them dead letters. This article argues that in a democracy, regulatory entrepreneurship is a presumptively unethical business strategy. In all but the most corrupt political environments, businesses that seek to change their regulatory environment should do so through the democratic political process, and they should do so without using illegal business practices to build a political constituency. To (...) show this, the article defends a qualified moral obligation for businesspeople to obey the law even in societies that fall short of ideal democracy and that are rife with economic injustice. Owners and managers of successful businesses have strong moral reasons to obey laws concerning resource allocation. Such laws include not only property law, but also tax laws, environmental regulations, and other laws that regulate businesses in competitive markets. The moral reasons to obey such laws apply even to laws that business leaders think unfair or inefficient, provided that the laws in question have reasonable, good faith defenders. (shrink)

Introduction. The book is a study in Adam Smith's system of ideas; its aim is to reconstruct the peculiar framework that Adam Smith’s work provided for the shaping of a semi-autonomous new discipline, political economy; the approach adopted lies somewhere in-between the history of ideas and the history of economic analysis. My two claims are: i) The Wealth of Nations has a twofold structure, including a `natural history' of opulence and an `imaginary machine' of wealth. The imaginary machine (...) is a kind of Newtonian theory, whose connecting links are principles; provided either by `partial' characteristics of human nature or by analoga of physical mechanisms transferred to the social world; ii) a domain of the economic, understood as a self-standing social sub-system, was discovered first by Adam Smith. His `discovery' of the new continent of the economic was an `unintended result' of a deviation in his voyage to the never-found archipelago of natural jurisprudence. -/- 1. Imaginary machines and invisible chains: natural philosophy and method. The first chapter reconstructs Smith's views on the method in natural philosophy, presented primarily in the History of Astronomy (HA). The peculiar kind of semi-sceptical Newtonianism which permeates the essay is highlighted. Its reconstruction of the history of one natural science is shown to be based on the assumptions of Hume’s epistemology, and to lead to a self-aware deadlock. Smith's dilemma is between an essentialist realism and sceptical instrumentalism; the Cartesian presuppositions he shares with Hume and with the 18th century as a whole make it impossible for him to overcome his dilemma. The following chapters will show how, on the one hand, Smith's skeptical methodology encourages him in the enterprise to `carve off' a new self-contained discipline and how, on the other hand, his epistemological dilemma is reflected in the inner tensions of his moral and political theory as well as in a number of basic oscillations concerning the status of the new discipline. -/- 2. Chessboards and clocks: moral philosophy and method. -/- The second chapter reconstructs Smith's views on the method in the parallel field of moral philosophy, including the theory of moral sentiments and natural jurisprudence. I argue that The Theory of Moral Sentiments, when considered together with with the Lectures on Jurisprudence, where Smith's peculiar version of a `weaker' form of natural law is presented, wins special interest, not only for the history of ethics but even more for the history of political theory and the social sciences. The two most striking features of Smith's work in this area are highlighted. First, his effort at reformulating the `practical science' is a methodologically self-aware attempt at applying the Newtonian method to moral subjects. Secondly, this attempt ends in a stalemate as two distinguished kinds of normative order are introduced: one ultimate order of Reason, ultimately justifiable but inaccessible, and one weaker order of our `natural sentiments', to which we have empirical access, but which is so variable as to lack any ultimate value as a basis for grounding our normative claims. These two parallel conundrums may arguably account for the author's inability to publish during his lifetime both The History of Astronomy and the projected history and theory of law and government. -/- 3. Wheels, dams, and gravitation: the structure of scientific argument in The Wealth of Nations. -/- The third chapter provides the core of the book, dealing with the structure of the argument in WN. I argue that the main presupposition that makes the shift possible from a `natural history' to a `system' approach is the Newtonian contrast of `mathematical' with `physical' explanation; that is, Smith drops any discussion of the "original qualities" of human nature that could account for economic behaviour, while introducing, as `principles' for the system, a set of `hypothetical' statements of `observed' regularities in human behaviour and of `observed' super-individual self-regulating mechanisms. In bringing this presupposition to light, the coexistence of a teleological with a mechanistic approach is clarified; fresh light is shed on the notion of the invisible hand by a comparison of its occurrence in Smith with the occurrence of the same expression (until now overlooked) in the correspondence between Newton and Cotes. Finally, the peculiar semi-prescriptive and semi-descriptive character of political economy are highlighted, and the consistency of Smith's `impure' semi-prescriptive social science, when understood in his own terms, is defended against familiar charges with inconsistency and against even more familiar strained modernizations. -/- 4. Apples, deer, and frivolous trinkets: the construction of the economic. -/- The fourth chapter draws consequences from the third, examining how Smith's achievement in political economy, marking its transition to scientific status, carried a re-description of the phenomena, creating the comparatively independent and unified field of the economic. Smith's achievement is interpreted not as the `discovery' of an autonomous character already possessed by the economy out there, so much as a Gestalt-switch by which our perception of social phenomena is modified making us `see' the partial order of the economy as an isolated system. To sum up, the autonomy of the economic in social reality and the autonomy of the economic in social consciousness are shown to be two sides of one process. -/- 5. Concluding considerations: Political economy and the Enlightenment halved. -/- A few suggestions on the status of economic theory two centuries after The Wealth of Nations in its relationship to ‘practical philosophy’ are illustrated. (shrink)

Older siblings play a role in their younger siblings’ language socialization by ratifying or rejecting linguistic behavior. In addition, older siblings may engage in a struggle to maintain their dominant position in the family hierarchy. This struggle is seen through the lens of language and political economy as a struggle for symbolic capital. Bilingual adolescent sibling interactions are analyzed as expressions both of identity and of symbolic power. This paper proposes a theory of political micro-economy, by (...) which analysts may trace connections between broad societal structures and structures of face-to-face interaction. (shrink)

_One of the strongest arguments against hate speech legislation is the so-called Argument from Political Speech. This argument problematizes the restrictions that might be placed on political opinions or political critique when these opinions are expressed in a way which can be interpreted as ‘hateful’ towards minority groups. One of the strongest free speech scholars opposing hate speech legislation is Ronald Dworkin, who stresses that having restrictions on hate speech is, in fact, illegitimate in a liberal democracy. (...) The right to express oneself freely concerning any political decision is, according to Dworkin, a core democratic principle; it is what self-governance – and hence liberal democracies – are built upon. Dworkin and many other free speech scholars based in the United States see hate speech legislation as a threat to expressing oneself freely and critically. I argue that Dworkin and other US-based free speech scholars tend to overlook actual hate speech legislation in countries where such laws have been implemented and have functioned for decades. Furthermore, I argue that the real threat against political speech lies not in hate speech legislation but rather outside of the law, namely, in private institutions such as universities and museums. Restrictions on political speech in various societal circumstances have been on the rise over the last decades – first and foremost in the US. I analyse why these restrictions on political speech are more widespread in the only Western country without laws against hate speech than they are in countries with implemented hate speech laws._ _Keywords_: political speech, hate speech, hate speech legislation, private institu-tions, universities, USA. (shrink)

While Hume had a favorable opinion of the new commercial society, Reid envisioned a utopian system that would eliminate private property and substitute the profit incentive with a system of state-conferred honors. Reid’s predilection for a centralized command economy cannot be explained by his alleged discovery of market failures, and has to be considered in the context of his moral psychology. Hume tried to explain how the desire for gain that motivates the merchant leads to industry and frugality. These, (...) in their turn, benefit all society. Reid still saw the desire for money as a degenerate form of the desire for power. The contrast between Hume and Reid, however, has not to be taken too far. On some particular matters of economic policy, such as paper credit, Hume and Reid eventually came to similar views. (shrink)

Can John Stuart Mill’s radicalism achieve liberal egalitarian ends? Joseph Persky’s The Political Economy of Progress is a provocative and compelling discussion of Mill’s economic thought. It is also a defense of radical political economy. Providing valuable historical context, Persky traces Mill’s intellectual journey as an outspoken proponent of laissez-faire to a cautious supporter of co-operative socialism. I propose two problems with Persky’s optimistic take on radical social reform. First, demands for substantive equality have led past (...) radicals to endorse exclusionary nationalist and eugenics policies. It pushes some contemporary radicals towards illiberal interventions into intimate social life. Second, the radical critique of capitalism relies on an account of profit that neglects the epistemic function of private-property markets. Once this is acknowledged, capitalism retains some progressive credentials against radical alternatives. (shrink)

The article considers the position of Spinoza within the discourse of political theology.

This thesis focuses on Carl Schmitt’s political theory of the strong state and the way his own concept of the political justifies strong coercive methods to de-politicise the economy. According to Schmitt, the strong state should have the legitimate capacity to counter democratisation of the economy and limit the possibility of social movements from “confounding” (Verwirrung) or “confusing” (Vermischung) the state and economy. Unlike many, who argue that Schmitt was in this extent (an economic) liberal, (...) as he sought to uphold a distinction between politics and economy, I argue that behind Schmitt’s institutional distinction between state and economy lies an explicitly anti-liberal conceptual distinction between the political and social. It is the task of this conceptual distinction to justify strong coercive means to counter socialist demands for economic justice. The distinction is anti-socialist or anti-democratic as it tries limit the “uncontrollable” expansion of the state into the economy by establishing the autonomy of the political from the economy. This enables him to accuse democratic forces of illegitimately “politicising” the economy in a way that contradicts this necessary autonomy. On the other hand, the distinction is anti-liberal as it does not argue for the autonomy of the economy, but its relative dependence on the strong state to uphold social order necessary for capitalist system of production. I have decided to use the term “authoritarian distinction” to define Schmitt’s conceptual distinction and its normative implications. The authoritarian distinction between the political and social is not simply a conceptual distinction but it establishes a normative basis for re-organising the relationship between the state and economy. In order to flesh out the specific nature of Schmitt’s authoritarian distinction, I have connected his thought with other theories of sovereignty and how they support the state’s authoritarian relationship with the economy. The thesis has three objectives. First, I want to develop a form of analysis of Schmitt’s work that connects his theoretical work with political struggle. To engage in political theory and conceptual work means to take part in politics. The concept of the political is no different, and it cannot be detached from political and normative entailments as it seeks to transform the way we perceive politics. In contrast to those who argue that Schmitt’s work on the concept of the political can be abstracted from his own political objectives, I analyse his conceptual work in tandem with his texts that explicitly engage in the politics of his time. On the basis of this analysis, I show that Schmitt’s abstract work takes part in the class struggle that was prevalent in the Weimar Republic. The conceptual distinction between the political and social is at the heart of his attempt to authorise exceptional measures to counter the labour movement of his time. Second, it is far too often that all distinction of the state and economy are reduced to analyses of liberalism. This has meant that Schmitt, too, has been claimed to adhere to a version of liberalism simply because his theory justifies limiting the politicisation of the economy. To me it seems that the focus on the liberal side of de-politicisation has produced a very one-sided narrative. In order to argue this, I discuss to an extent other theorists of sovereignty, namely Hobbes and Rousseau, and point out that even they sought to establish a distinction between the state and economy in a way that contradicts liberalism but still leaves capitalist means of production intact. To reduce Hobbes or Schmitt to a role of a precursor to liberalism means to look aside the specific nature of their theory – and, for that matter, the specificity of liberalism. Furthermore, I discuss to an extent how both liberals and these various theories of sovereignty are similar in so far as they accept the modern development of the economy as its separate sphere from politics. Third, I want to criticise the recent attempts to appropriate Schmitt’s concept of the political on the left. Many have argued that Schmitt’s concept of the political as autonomous to the social is useful in overcoming traditional Marxism and use for radicalising democracy. However, my thesis suggests that this strategy needs to be problematised, as Schmitt’s conceptual distinction cannot be separated from his anti-democratic and -socialist economic policies. In the future, I hope to further explore this need to re-think the relationship between the political and social, and whether or not we should return to a more standard Marxist understanding of this relationship. (shrink)

Against the common understanding that the Ethics promotes a "radical anti-emotion program," I claim that Spinoza describes an immanent transformation of love from a form of madness to an expression of wisdom. Love as madness produces the affects that another tradition unites in the seven deadly sins, such as lust, gluttony, envy, greed, and pride. Spinoza, however, never condemns these affects as such. Within each affect one can find its "correct use" (E5p10schol), which enables us to love and to live (...) otherwise. As we come to understand our beloveds as determinate expressions both of nature's power and of our own ability to persevere in being, we find conditions for our liberation within these most burdensome of passions. More specifically, as we diminish our tendency to imagine what we love in terms of its finitude and susceptibility to loss, we are determined to love and to know both others and ourselves by the joyful passions. Ultimately, Spinoza's portrait of love suggests ways of life that generate the satisfaction of our possessive desire with the collective and inclusive love of, certainly, the eternal and immutable thing, but also the eternal and immutable in things, in each other, and above all, in ourselves. In other words, Spinoza's economics of love and possession point up the desire to appropriate our own power in and of community, and in of nature. (shrink)

Did Plato intend the laws of the Laws to change? While most scholars agree that there is to be legal change in Magnesia, I contend that this issue has been clouded by confusing three distinct questions: (1) whether there are legal mechanisms for changing the law in Magnesia, (2) what the attitudes of Magnesian citizens towards innovation and legal change are, and (3) whether Plato thinks the law is always the ultimate political authority. Once we separate these issues and (...) look at the relevant texts more closely, we see that the Athenian Visitor is primarily concerned with supplementing the original lawgiver’s laws and that any innovation that occurs should be consistent with this lawcode. This does not settle the question about whether it is always right to act in accordance with the existing laws, though it does provide a valuable framework for understanding a central aspect of Platonic political philosophy. Thus, although Plato’s ideal places knowledge above the law, in practice the laws of Magnesia will be fixed and authoritative for those people living under them. (shrink)

In his article, I reconsider the normative dimensions of Michel Foucault's genealogical method, especially as they pertain to analyzing the nature of political institutions. He puts forward a normative reading of Foucauldian genealogical critique, and through its lens views political institutions as historically contingent phenomena. This helps us to see how political institutions are transformable.

Placed between constituting and constituted power, homo sacer reveals the state of exception, which through sovereign ban, is kept both inside and outside the law. Agamben’s latest political and legal philosophy is based upon this concept. As the victim of sovereignty, homo sacer unfolds the paradox of sovereign power, criticiz- ing its fundaments and showing the emptiness of law. However, for potentiality which is at the centre of Agamben’s argument, we need to look not only outside sovereignty and sovereign (...) power, but also outside homo sacer. This ar- ticle aims to examine such space, arguing that through absolute potentiality, the fulfilment of law is possible with the content to be focused on reaching conditions of justice and happy life. (shrink)

In On Not Expecting Too Much from Narrative, Lamarque (2004) challenges theories of narrative identity. For while narrativity might tell us something of interest about our selves, the requirements for this would be so strong that theories of narrative identity would not be able to meet them. In contrast, he identifies minimal conditions for narrativity, so that our identity could be of a narrative nature as well. But in that case, the concept of narrativity would be so weak that it (...) would hardly be able to tell us anything about ourselves. I first examine Lamarque's criticism of narrative concepts of identity. He shows that stories, understood in a minimal sense, are not found but told and that they establish a temporal relationship between at least two events. I then examine the concept of teleological explanations of action. Considering the problem of deviant causal chains that causalists are confronted with, they are at least a serious alternative to causal explanations of action. By doing that, I also attempt to render plausible the irreducibility of teleological explanations of action to causal ones. Subsequently, I outline some features of teleological explanations of action. Finally, I defend the idea that teleological explanations of action are essentially narrative explanations of action because they meet Lamarque's minimal conditions of narratives. I then make the case that these kinds of narratives are not trivial with respect to our personal identity but, on the contrary, are the prerequisite under which we can perceive ourselves as rational agents. (shrink)