Before the Doi Moi reforms in 1986, Viet Nam’s economy was devastated by 30 years of warfare with two major military powers, France and the US, ending in 1975. In the subsequent 10 years, Viet Nam suffered from failing economic experiments, including agricultural cooperatization, “industry-commerce rehabilitation,” price-wage-currency reform, among others, under the centrally planned mechanism (Wood 1989), as well as the international isolation and a US trade embargo when its troops entered Cambodia to overthrow the Khmer Rouge (Riedel and (...) Turley 1999). Its per-capita gross domestic product (GDP) declined to USD 97 in 1989 whereas the ratio of external debt to GDP reached 330%. 1 The economy languished and became one of the poorest in the world (VGP 2016). (shrink)

Support for agricultural producers in the European Union remained uneven, as preferences were given to the most economically stable regions and businesses. Intensive farming methods continued to be used, with consequences for both the environment and animal health. In addition, the applicant countries that joined the European Union had to adopt legislation, i.e. meet the parameters and criteria that exist in the Single Market for agricultural products, namely: to ensure appropriate product quality, update the technical and technological base of (...) production, introduce innovative technologies for growing grain and fattening animals, etc. (shrink)

For a transitional market with a short history like that of Vietnam, corporate governance is a critical area of improvement. The issuance of Circular 121 in 2012 marked an important milestone of corporate governance reform in Vietnam as it includes stricter and more well-defined regulations learned from international best practices. Among them is the requirement that independent directors should make up at least one-third of the board of directors. Although improving financial reporting is not at the heart of Circular (...) 121, this Circular is expected to reduce earnings management through the mandatory requirement of board independence. Using data collected from a sample of 523 non-financial listed firms from 2009 – 2016, this study finds no significant relationship between earnings management and the proportion of independent directors, and Circular 121 has no impact on this relationship. These results are consistent across different regression approaches and various robustness tests, suggesting that board independence and corporate governance reform are not effective tools in mitigating earnings management. (shrink)

Free trade agreements are about reducing tariffs, market access in services, protection of intellectual property rights, streamlining customs procedures, trade remedy measures, and dispute settlement mechanism. Equally important if not even more important than these provisions is the designation of rules of origin. Many benefits can be lost if restrictive rules of origin are incorporated. Rules of origin are supposed to be straightforward and easy-to-follow methods used to determine origin of imported goods. The policy question that arises is how (...) to improve trade integration among Arab countries through more effective rules of origin. (shrink)

Many developing countries have reformed their national pension systems in response to ageing populations and to increase pension scheme participation. The World Bank has been active in pension reforms in developing countries since the 1990s, and Vietnamese pension reforms since 2004 have reflected many proposals of the World Bank – a leading international donor to Viet Nam since 1993. There have been many criticisms of the World Bank’s pension privatisation proposals for developing countries – for example, the World (...) Bank did not take into account country-specific environmental factors such as financial market conditions and regulatory capacity, and it focused on economic growth rather than old-age poverty reduction. -/- This research studies whether the Vietnamese pension reforms, with the World Bank as an active agent, have taken into account the concerns and expectations of an important stakeholder group: the Vietnamese people. Data was collected through semi-structured interviews and a survey of Vietnamese people. The findings from interviews and the survey were analysed with reference to the World Bank’s proposals for Viet Nam and changes in Vietnamese legislation. The aim of the research is to explore the extent to which the World Bank, with its global power, and the Vietnamese government, with its dependence on global finance and technical knowledge, have responded to concerns and expectations of Vietnamese people. (shrink)

Substantially increased wealth inequality across the developed world has prompted many philosophers, economists and legal theorists to support comprehensive taxes on all forms of wealth. Proposals include levying taxes on the basis of total wealth, or alternatively the change in the value of capital holdings measured from year-to-year. This contrasts with most existing policies that tax capital assets at the point they are transferred from one beneficiary to another through sale or gifts. Are these tax reforms likely to meet (...) their aims of greater economic and political equality? We argue that these policies are likely to fail because, following neoclassical economic theory, they are based on a conception of capital as possessing given values in what amounts to a static equilibrium. This mischaracterizes the dynamic and subjective character of market economies and the contested value of real instantiations of capital goods. This makes them very difficult, often impossible, to value apart from at the point of voluntary transfer or profit realization. This means most taxes levied on a mark-to-market basis will be arbitrary and unfair. We propose alternative policies based on an income realization approach to taxation that are more likely to curb excessive wealth holdings. This includes introducing international treaties that prohibit preferential tax treatment for individual companies and specific sectors, and broadening the income tax base to include the imputed rent of personal housing wealth. (shrink)

Karl Polanyi in The Great Transformation diagnosed what had happened in the Nineteenth Century that led to poverty, increasingly wild economic fluctuations, increasingly severe depressions, and social dislocation and oppression on a massive scale – the market had been disembedded from communities which were then subjected to the imperatives of a supposedly autonomous market. In fact, such disembedding and imposition of these imperatives was a deliberate strategy developed as a means to impose exploitative relations on people, in opposition (...) to ideas of republican democracy. Recognizing this, after such disembedding had engendered a major global depression in the 1890s and an even more severe depression in the 1930s, along with two world wars, reformers largely succeeded in re-embedding markets. This achievement was fought by neoliberals, and their triumph in the 1970s was a really a project of reversion to the Nineteenth Century economic and political order, now upheld by much more powerful forces, including immensely powerful transnational corporations and financial institutions, corrupt politicians, and much more effective mind control industries. As in the Nineteenth Century, it has concentrated wealth and income, destabilized economies, and threatens a new Great Depression and, as a by-product of the tensions generated by global ecological destruction, possibly a new world war. As opposed to Marxist analyses, Polanyi’s analysis provided a much clearer goal to aim at that has not been discredited by the failures of supposedly communist countries. However, there are still huge problems to be overcome if we are to re-embed the market in communities, including the problem of grappling with the immense power of transnational corporations and financial institutions and those who serve them and the success they have had in corrupting the institutions and culture of democracy. This includes not only undermining the power of nations to control their economies and their subversion of democratic processes, but also in promoting passivity in the population to render them inert and powerless. In this paper I will examine proposals, such as those promoted by Arild Vatn in his book Institutions and the Environment, to develop institutions able to achieve this re-embedding. (shrink)

Contemporary debates about scientific institutions and practice feature many proposed reforms. Most of these require increased efforts from scientists. But how do scientists’ incentives for effort interact? How can scientific institutions encourage scientists to invest effort in research? We explore these questions using a game-theoretic model of publication markets. We employ a base game between authors and reviewers, before assessing some of its tendencies by means of analysis and simulations. We compare how the effort expenditures of these groups interact (...) in our model under a variety of settings, such as double-blind and open review systems. We make a number of findings, including that open review can increase the effort of authors in a range of circumstances and that these effects can manifest in a policy-relevant period of time. However, we find that open review’s impact on authors’ efforts is sensitive to the strength of several other influences. (shrink)

Thomas C. Leonard presents an intellectual history of the Progressive Era from the perspective of economists. It is hard to understate the influence this group had in developing Progressive ideas. Leonard brilliantly details how Progressive economists wielded enormous influence not only in spreading ideas about traditional economic concepts, but also ideas and theories that influenced political and civil liberties. For example, the Progressives gave us the social science professor, the scholar-activist, social worker, muckraking journalist, and expert government advisor. All of (...) these reform-vocations, according to Leonard, sought to replace the invisible hand of the market with the visible hand of the administrative state. In short, Leonard’s book is a must-read for everyone remotely interested in political economy. (shrink)

A citizens’ movement in Berlin advocates for the expropriation of housing corporations and has won a significant majority in a popular referendum in September 2021. Building on this proposal, this paper develops a general account of expropriation as a measure for corporate reform and thereby contributes to the ongoing debate on the democratic accountability of business corporations. It argues that expropriation is a valuable tool for intervention in a dire situation in some economic sector to enable a re-structuring of the (...) governance of the assets in question. Compared with other tools available, expropriation is a more forward-looking, genuinely political measure that does not depend on the legal assignment of guilt but rather proceeds in a pragmatic and problem-oriented manner. It also allows us to reconsider in how far the market mechanism should be employed in the administration of assets. Objections from private property rights against expropriation fail as corporations generally are privileged, quasi-public institutions that can justifiably be subject to democratic interventions. Expropriation is thus an important addition to the arsenal of corporate reform proposals, especially for those concerned with a broad democratization of the corporation. (shrink)

This work aims to study strategies used in Argentine local development experiences, focussing on industrial design, marketing and entrepreneurship. In order to this purpose, backgrounds are analysed with this approach adding the study of three strategic plans for national and provincial-level that are currently in force. With the analysis of the transport system in the last decade, an accelerated cost increase is evident, resulting in a relatively higher price of distributed products. This situation that was initially perceived as a disadvantage (...) finally set up an opportunity to produce locally. The goal of this paper is to provide tools that contribute to the work shipped by key institutions for local development (public, private and intermediary organisations), and the way these interact with the actors and the territory. In particular, the identification of productive sectors and the selection of goods that can be produced and consumed locally, as a key input for the formulation of projects. (shrink)

This work aims to study strategies used in Argentine local development experiences, focussing on industrial design, marketing and entrepreneurship. In order to this purpose, backgrounds are analysed with this approach adding the study of three strategic plans for national and provincial-level that are currently in force. With the analysis of the transport system in the last decade, an accelerated cost increase is evident, resulting in a relatively higher price of distributed products. This situation that was initially perceived as a disadvantage (...) finally set up an opportunity to produce locally. The goal of this paper is to provide tools that contribute to the work shipped by key institutions for local development (public, private and intermediary organisations), and the way these interact with the actors and the territory. In particular, the identification of productive sectors and the selection of goods that can be produced and consumed locally, as a key input for the formulation of projects. (shrink)

Problem statement. Modern marketing requires effective tools to attract and retain customers, as well as improve communication with the audience. In this context, the use of artificial intelligence, in particular, ChatGPT (Generative Pre-trained Transformer), can be a promising innovative solution. However, the conclusions about the potential benefits and limitations of using ChatGPT in marketing are ambiguous, due to the little experience gained in this area. The purpose of the study is to assess the potential of using ChatGPT in marketing strategies, (...) to study the opportunities and challenges it presents for improving the efficiency of communication with customers and brand development. The methodological basis of the study is based on modern research on marketing and artificial intelligence and analysis of the results of using ChatGPT in real marketing campaigns. The main hypothesis of the study is the assumption that the use of ChatGPT in marketing can improve the quality of customer service, increase brand engagement, and increase customer loyalty. Summary of the main research material. The study examines the results of using ChatGPT in marketing strategies, in particular in online communications, especially in areas where personal interaction with customers is important. The working hypotheses were confirmed based on the analysis of data and information collected during the study. Possible limitations and challenges related to the implementation of ChatGPT in marketing practices were identified. The originality and practical significance of the study lies in the fact that the analysis helped to reveal the potential of using ChatGPT in marketing strategies and made it possible to formulate recommendations on the optimal use of this technology to attract and retain customers. Conclusions and prospects for further research. The conducted research allowed us to state that the use of ChatGPT in marketing contributes to increasing the efficiency of marketing activities of the enterprise in general and improving communications with customers in particular. Further research may include the development of new algorithms and strategies for the optimal use of artificial intelligence in marketing. (shrink)

The paper aims at finding a way out of deadlocks in Malthus scholarship concerning his relationship to utilitarianism. The main claim is that Malthus viewed his own population theory and political economy as Hifsdisziplinen to moral and political philosophy, that is, empirical enquiries required in order to be able to pronounce justified value judgments on such matters as the Poor Laws. On the other hand, Malthus’s population theory and political economy were no value-free science and his policy advice – far (...) from being “utilitarian” – resulted from his overall system of ideas and was explicitly based on a set of traditional moral assumptions. These in turn were justified by a peculiar meta-ethical theory, which has been named in a somewhat improper way “theological utilitarianism” and which I propose to name instead “consequentialist voluntarism”. The issue of poverty and its remedies is the one where Malthus’s peculiar approach, once applied to a real-world issue, displays it potentialities, yielding a kind of policy-advice that is softer and more flexible than the one that may be drawn from Benthamite utilitarianism. The reconstruction shows how, through subsequent approximations and under pressure of critics, Malthus yields finally a kind of Institutional approach to policies concerning poverty, making room for generalized basic education, free markets for labour and for corn, colonies, and private beneficence. Such a mix of policies should bring about for the lower classes of society “the means of being respectable, virtuous and happy”. -/- . (shrink)

The 2007 financial crisis has deeply shaken the world economy. The causes and consequences of this crisis have been hotly debated in economics ever since. However, the impact of financial markets on justice is also a growing field of study, to which the book recently edited by Lisa Herzog provides a valuable contribution. The book is not intended to tackle technical discussions on the functioning of financial markets and institutions, which are broadly presented in the introduction (chapter 1). Rather, it (...) aims at making clear how financial markets and institutions affect justice and at proposing potential institutional reforms. The book is divided into three parts. The first four chapters scrutinize several possible normative frameworks for studying financial markets beyond the simple ‘free-market’ model. The second part studies the legal framework that applies to financial markets, discusses how it failed to prevent harm and injustices, and proposes reforms. The final part looks at particular financial institutions and analyses how they impact justice. (shrink)

Globalization today is at a dangerous crossroads. Although many alleged it has provided enormous benefits, but the systemic risks and growing inequality it causes necessitate urgent action. The myth of a borderless world is crashing down. Traditional pillars of open markets; the United Kingdom and United States are wobbling. This is evident in the Brexit vote which stunned European Union and the world at large, couple with the recent policies of the American government towards its fellow western allies and immigrants. (...) Many people are beginning to feel so troubled about our economic future. The failure to arrest these global developments is likely to lead to growing nationalist policies, protectionism and xenophobia, which the world is already witnessing. Globalization has created growth, no doubt. But what kind of growth? And for who? This crisis posed by globalization has forced many to question the motive behind this phenomenon. Could this be renewed imperialism? This paper adopts rational and analytic methods in exposing this argument. (shrink)

In this essay, I challenge Charles Mills’s use of the category of moral personhood for advancing a robust anti-racist political critique in nonideal circumstances. I argue that the idea of the moral equality of persons is necessary but insufficient for reparative justice. I enrich the normative basis of political critique to include: (1) a clarification of what the public recognition of moral personhood can legitimately entail as a requirement of justice enforceable by the state, especially with respect to economic (...) class='Hi'>reforms that advance equal opportunity and (2) a conception of non-alienated labor that assails identity-based occupational segregation in the labor market. These additional components do not exhaust the plausible bases for political critique, but enrich it in a way that the idea of moral equality alone cannot. (shrink)

The nationwide economic reform in 1986 transformed Vietnam from a centrally planned economy to a socialist-oriented market economy. Entrepreneurs and entrepreneurial spirits within the populace are suggested to fuel the structural changes. Despite the importance of entrepreneurship in Vietnam’s economy, studies in Vietnam mainly pay attention to the practical aspects of entrepreneurial activities and neglect the cognitive and theoretical aspects of entrepreneurship. Thus, the current study employs the information-processing perspective of the Mindsponge Theory to explore how entrepreneurs’ knowledge accumulation (...) can affect their perceived likelihood of business success. Bayesian analysis indicates that business-related experience positively affects entrepreneurs’ business success likelihood. Greater willingness/readiness to transform thinking, acting, and beliefs can improve the business success of entrepreneurs who study others’ failures carefully. However, for entrepreneurs who perceive learning from others’ failures as unnecessary, higher willingness/readiness to transform diminishes their chance of success. Based on these findings, we recommend Vietnamese entrepreneurs accumulate knowledge through experience, learning, and an open mind for better decision-making and innovation creation capabilities. However, the learning process should be selective. (shrink)

Jordan acceded to the WTO in 1999. In its accession Jordan agreed, for example, to reduce tariffs on imported products and open its services market; it also modified its intellectual property regime. Jordan enjoyed special and differential treatment in few areas and was not able to designate olive oil as a good eligible for special safeguards. The WTO agreements required fundamental changes in the domestic laws and regulations of Jordan. The article concludes by arguing that Jordan’s accession to the (...) WTO was a lengthy and costly process. Jordan agreed to an arduous package of legal and economic reforms. Given that Jordan agreed to greater commitments compared to the obligations of the original WTO members, the multilateral trading system witnessed an accession saga. (shrink)

Disability laws are crucial in ensuring a life of dignity for persons with disabilities. However, they remain limited and ineffective in the absence of adequate knowledge and awareness of the experiences with disability. The limitedness of disability laws has been spoken of in cases where the full realization of rights is subject to technological, philosophical, and market dynamics. In many cases, the law is also weakened by negative cultural beliefs and social perceptions of disability. And then there are cases (...) where disability laws perpetuate or tolerate oppression and violence. Despite their limitedness, disability laws offer normative content to facilitate engagement and critique for reform. In terms of what disability laws ‘ought’ to be, scholars write, that they should be about disabled people and the meanings provided by them. This objective has and can be fulfilled with the aid of disability studies that go beyond the inquiries of law with the right kind of research tools to theorize and re-theorize concepts and meanings about disability. Disability studies, in other words, represent the living conditions of disabled persons and the questions of how disability and/or impairment should be defined. This chapter examines the interaction between disability law and disability studies through the prism of the Convention on the Rights of Persons with Disabilities (CRPD). While discussing the models of disability (medical, social, human rights, and relational-community models) and agendas for reforming the CRPD, the chapter highlights the importance of new concepts and approaches. Further, the potential of disability laws, CRPD in particular, has been discussed keeping in mind the application of its core principles across different sectors (with a special focus on the Marrakesh treaty and copyright laws). (shrink)

One of the key challenges of social policy in Poland in the early 21st century is to adapt its management to the requirements of a service economy. Essential conditions for the mixed economy of welfare have been already created after adjustments of the subsystems of national social policy during the first years of membership in the European Union since 2004. Labour market policies already include the relationships between providers from the public sector, the commercial sector, and the non-governmental sector. (...) However, the tasks and services of individual entities and institutions still lack coordination and integration. This paper focus on the examples of possibilities for their development by combining the activation policy with concepts of the governance and welfare mix. The paper presents the results of the author’s research on the implementation of welfare mix solutions in the field of professional activation of the unemployed people in Poland. Two case studies are included the implementation of outplacement programs that are based on the cooperation between different entities; and the cooperation between the public employment services and non-governmental employment agencies in the activation of people with disabilities in the labour market. Moreover, basic concepts of ongoing reforms of active labour market policies in Poland were discussed. The summary contains the practical recommendations and possible directions for further research in the field of integration of employment services. (shrink)

The article studies the energy efficiency of the economy and determines the need to reform the energy sector of Ukraine and conditions of its adaptation to EU requirements. Annual energy consumption in the world is about 14 billion tons of fuel. This is mainly organic origin resources – coal, oil, natural gas – 82 %, nuclear power – 7 %, hydroelectric energy – 3%, wood – 7 % renewable energy and – 1 %. The economic development of any country in (...) our time is determined not only by the number of extracted or consumed fuel and energy resources (FER), but the efficiency of their use – energy intensity of GDP, unit costs per unit of output. These figures are better in those countries which have established effective economic and legal mechanisms to encourage energy efficiency, which in turn stimulated the development of energy-saving technologies, equipment supply and services for energy efficiency. Analysis of international experience shows that Ukraine’s energy dependence can be reduced by: increasing production and consumption of domestic energy resources; increasing the efficiency of production, transportation and consumption of energy resources; diversification of energy imports and types of energy consumed. The study emphasizes that «energy is an important prerequisite for growth and development throughout the world, and despite the global financial crisis, demand for energy is growing steadily, particularly in the large economies of China, India and Brazil, developing countries. The authors provethat energy security is largely complicated by the fact that key energy resources are concentrated geopolitically. Most of the world’s oil and gas are found in several countries, some of which «are in a state of political turmoil and are not particularly friendly to US interests»(Gray F, 2010). The conclusions can be summarized that in the context of the main areas of research reducing risks to energy security of Ukraine are: energy efficiency economy (reduce unit cost of energy per unit of GDP); increase proved reserves and production of domestic energy resources; the transition from the use of expensive imported energy resources (oil, natural gas) to other fuels, especially domestic origin; opposition to fluctuations in energy prices (particularly by combating monopolization of the energy market, development of market infrastructure provisioning energy, preservation of state fuel and energy complex and the situation in the energy market); the development of the market principles of the electricity industry, promoting competition in this area. (shrink)

The global ecological crisis is the greatest challenge humanity has ever had to confront, and humanity is failing. The triumph of the neo-liberal agenda, together with a debauched ‘scientism’, has reduced nature and people to nothing but raw materials, instruments and consumers to be efficiently managed in a global market dominated by corporate managers, media moguls and technocrats. The arts and the humanities have been devalued, genuine science has been crippled, and the quest for autonomy and democracy undermined. The (...) resultant trajectory towards global ecological destruction appears inexorable, and neither governments nor environmental movements have significantly altered this, or indeed, seem able to. The Philosophical Foundations of Ecological Civilization is a wide-ranging and scholarly analysis of this failure. This book reframes the dynamics of the debate beyond the discourses of economics, politics and techno-science. Reviving natural philosophy to align science with the humanities, it offers the categories required to reform our modes of existence and our institutions so that we augment, rather than undermine, the life of the ecosystems of which we are part. From this philosophical foundation, the author puts forth a manifesto for transforming our culture into one which could provide an effective global environmental movement and provide the foundations for a global ecological civilization. (shrink)

In modern Russian society, it is possible to trace the division into citizens who support the reforms of the education system, carried out over the past 20 years, and their ideological opponents. The purpose of the article is to identify the grounds of this social conflict and the failure of the reforms at the level of public consciousness. The author argues that the discrepancy between conceptual education metaphors guiding the vector of education policy causes a different understanding of (...) the essence, goals and objectives of education, which leads to social conflict and dysfunction of the system. The article seeks to identify the leading conceptual metaphors of education at the regulatory level and in the citizens’ consciousness; to elucidate of the values constituting the core of each metaphor; to compare the found metaphors with the leading philosophical approaches to education; to detect other conceptual metaphors; and, finally, to suggest recommendations for resolving the conflict. The two found leading metaphors of education in modern Russia contradict at the axiological level, which leads to social conflict. The author sees a solution in adopting philosophic-anthropological approach and, according to the results of the survey, the corresponding conceptual metaphors of education as construction and educational journey. (shrink)

Citation:Christodoulou, Marina. “Technopolis as the Technologised Kingdom of God. Fun as Technology, Technology as Religion in the 21st Century. God sive Fun.” Cahiers d'études germaniques N° 74, 2018. La religion au XXIe siècle - Perpectives et enjeux de la discussion autour d'une société post-séculière. Études reunites par Sébastian Hüsch et Max Marcuzzi, 119-132. -/- -------- -/- Neil Postman starts his book Technopoly: The Surrender of Culture to Technology (1993)1 with a quote from Paul Goodman’s New Reformation: “Whether or not it (...) draws on new scientific research, technology is a branch of moral philosophy, not of science.” (Postman 1993: motto; Goodman 2010: 40). I would extend Postman’s Technopoly to Technopolis, to give it more of a presence in time and space. Hence, I will use the term Technopoly when I am referring to Postman; the term Technopolis is my own. -/- In his book From Faith to Fun: The Secularisation of Humour, Russel Heddendorf argues that humour is a technology (Heddendorf 2009: 32-34), as it is understood and theorized by Neil Postman in Technopoly. Russel Heddendorf also argues that “Technopoly” is a term correlated with Wittgenstein’s use of the term “worldview” (Weltanschauung) (Heddendorf 2009: 11). -/- I would like to draw on these thoughts to propose that Technopoly (or Technopolis) could be the secularized Kingdom of God, namely that Technology is the Religion of the 21st century, and that Fun is a paradigm of such a Technology / Technique. God is yet another technique or Technology of and in Technopoly. -/- The godless individual in the 21st century, I will argue, is as much a believer as the faithful in the Sacred Religion (term used in opposition to Secular or rather Technological or Technologized Religion, which is Fun). He believes in Fun (as a post-modern form of pleasure), as much as the believer believes, or more accurately, believed in God. In the 21st century, the faithful in Sacred Religion believes in a fun God, as opposed to the serious God of the past. Fun is turning into the Technologized Religion for all; for the faithful in Godly / Sacred Religion, as well for as the unfaithful. Fun (pleasure, humour) is the definitive qualia of 21st century pleasure. The mechanics of Fun make it absolutely functional for controlling people; as Aldous Huxley wrote in Brave New World, people “are controlled by inflicting pleasure” (cited in Heddendorf 2009: 158). Now, indulging in pleasure is having Fun. In the 21st century, nobody is unfaithful, nobody disputes God, because God has been manufactured into Fun. We are living in the most religious century of all. -/- The commodity of God, now inextricably blended into work and leisure ethics and culture, is as unavoidable as survival. You don’t work, you don’t survive, you don’t exist. You work, you are entitled to leisure, or free time – the time (“busy-time”) when you are busy is work. The free time of leisure (“fun-time”) is a time for fun (pleasure). The time dedicated to Fun is culturally (capitalistically) pre-defined; no moment is actually free, each moment that is sold as free is to be bought with Work Time tokens –which is money. Believe is Enjoy. Happiness, achieved through pleasure, and pleasure through Fun, and Life as Play, is the recipe for Teleology in the 21st century. -/- The Technological God (Fun), as the Sacred God before him, is sovereignty’s technique or a social “mode of release”: demonstrations, marches, petitions, freedom of speech, citizen and human rights vindications, are “modes of release”, so that the next day, feeling relieved and released that you are working for a better life and a better world, you can wake up cheerfully to walk to your workplace, feeling it will change because of your marching, or your petition, or your speech, or the mass you attended, or the prayer you said yesterday. Thus life continues unchanging, through postponing hope; the tension of the tragedy is always released (lysis) in catharsis: refreshment for the next day of work. Art, especially cinema, (namely, simulated life) follows the same cathartic principles as real life. Thus, you can keep coping, and hoping in the meantime is of much help. Religion, Art, Science, Therapy, and Technology are all technologies used to market life, sell it or lend it, and humans are buying it back. Fun is free to produce, and expensive to buy. (shrink)

Under one of the last remaining single-party communist regimes, Vietnam’s in-progress transition is a hybrid between post-Soviet reforms and Chinese authoritarian compromise. This chapter provides a brief account of the historical events and cultural attributes that have shaped the current political and economic configuration of the country, a coverage of globalization and entrepreneurial endeavours in relation to trade liberalization, an analysis of growing consumerist tendencies and the solidification of a circle of economic elites, an overview of Vietnamese foreign trade, (...) with a focus on the Association of Southeast Asian Nations (ASEAN) and China as significant partners, and a macroeconomic assessment of the country. (shrink)

This paper provides an examination of some problems caused by the concentration of influence in the capital markets of developed countries. In particular, I argue that large asset managers exercise quasi-political power that is not democratically legitimate. In section two, I will examine the economic driver behind the size and power of the big asset managers: the passive investing revolution. I will discuss several respects in which this revolution has fundamentally changed capital markets, most notably by making a large share (...) of investors universal owners. In the third section, I argue for my central analytical conjecture: asset managers exercise quasi-political power. They use their influence to shape the rules of the game in public capital markets in order to implement social and environmental policies that have traditionally been the exclusive purview of states. “Asset manager capitalism” is a recent term coined to refer to the contemporary system of corporate governance that succeeded the Berle and Means corporation with its dispersed ownership; the argument of this section is that asset manager capitalism is also a new political-economic regime. In the fourth section I defend my central normative claim: asset manager capitalism is an untenable and illegitimate political-economic arrangement, for at least two reasons. First, the power of asset managers is not checked by any institutional constraints, and is not rendered legitimate by any democratic process. More fundamental than this procedural critique is an argument that the interests of asset managers could not be aligned with the public interest, given the fact that the distribution of capital is highly unequal. I conclude by discussing several proposals to reform asset manager capitalism. (shrink)

While Hegel’s political philosophy has been attacked on the left by republican democrats and on the right by feudalist reactionaries, his apologists see him as a liberal reformer, a moderate who theorized about the development of a free-market society within the bounds of a stabilizing constitutional state. This centrist view has gained ascendancy since the end of the Second World War, enshrining Hegel within the liberal tradition. In this book, Renato Cristi argues that, like the Prussian liberal reformers of (...) his time, Hegel was committed to expand the scope of a free economy and concurrently to ensure that the social practice of subjective freedom did not endanger political stability and order. Aware that a system of mutual advantage failed to integrate the members of civil society and that profound social disharmonies were ineradicable, Hegel adopted the views of the French liberal _doctrinaires_, who sought to realize the principles of the French Revolution by supporting Louis XVIII’s sovereign assertion of the monarchical principle. Not surprisingly, Hegel hailed the French _Charte_ of June 1814 as a beacon of freedom. Endorsement of the monarchical principle was meant to prevent the atomized individuals of civil society from gaining control of the state through appeals to popular sovereignty. This challenges most conventional interpretations of Hegel’s theory of the state and draws it closer to the conservative-authoritarian end of the political spectrum than is usual. (shrink)

Most business ethicists maintain that corporate actors are subject to a variety of moral obligations. However, there is a persistent and underappreciated concern that the competitive pressures of the market somehow provide corporate actors with a far-reaching excuse from meeting these obligations. Here, we assess this concern. Blending resources from the history of philosophy and strategic management, we demonstrate the assumptions required for and limits of this excuse. Applying the idea of ‘the state of nature’ from Thomas Hobbes, we (...) suggest that corporate actors would be excused from duties if complying with them threatened their vital interests. We show how this excuse is not available for most individuals within firms; instead, it is an excuse perhaps available to firms themselves, but only given substantive assumptions about corporate personhood. For those willing to make these assumptions, we apply the competitive advantage construct to delimit the scope of this excuse. We suggest that firms are excused from fulfilling an obligation when complying leads to a competitive disadvantage, as this imperils the firm’s vital interests. After revealing why this excuse does not generalize, we conclude by considering when we should reform the market to avoid the legitimacy of this excuse. (shrink)

The main goal of this thesis is to provide a clear basis for the analysis of alternative currencies, such as Bitcoin, LETS, Local currencies, the WIR or Carbon currencies. It attempts to determine whether alternative currencies might constitute just and workable alternatives, either in the form of small-scale experiments or in the form of more radical reforms. The first chapter proposes a new way to classify currencies. The second examines the case in favour of monetary plurality. The third analyses (...) the claims in favour of restricting the use of money locally, within a community, or to certain goods. The fourth studies the link between money and the market. Finally, a post-scriptum focuses on Bitcoin and cryptocurrencies. This thesis highlights that these currencies are drivers of several potential conflicts. Their widespread use might conflict with the adequate management of monetary policy, with social justice, and with liberal values. These conflicts are potential, for they would come into existence only if alternative currencies increased in scope. However, there is no reason to disregard potential conflicts when the case in their favour relies mostly on their potential benefits. (shrink)

Switching from a meat-heavy to a plant-based diet is one of the highest-impact lifestyle changes for climate mitigation and adaptation. Conventional demand-side energy policy has focused on increasing consumption of efficient machines and fuels. Regulating food demand has key advantages. First, food consumption is biologically constrained, thus switching to more efficient foods avoids unintended consequences of switching to more efficient machines, like higher overall energy consumption. Second, food consumption, like smoking, is primed for norm- shifting because it occurs in socially (...) conspicuous environments. While place-based bans and information regulation were essential in lowering the prevalence of smoking, the same strategies may be even more effective in reducing meat demand. Several policy reforms can be implemented at the federal level, from reform of food marketing schemes to publicly subsidized meal programs. (shrink)

Technologies currently have a tremendous impact on all spheres of economy, business and a state. They integrally change people’s conception of trade, property, and market entities interaction. Artificial intelligence, additive, informationommunication, green technologies, biotechnologies, and blockchain technologies development and implementation confirm their leadership importance and inevitability in relation to the activities traditional approaches. In the modern world only the companies with flexible vision, equipment and technologies able to instantly reform, adapt to new conditions and challenges, will benefit. The point (...) at issue is Industry 4.0 as a new technological mode emergence. (shrink)

Is the family subject to principles of justice? In "A Theory of Justice", John Rawls includes the (monogamous) family along with the market and the government as among the, "basic institutions of society", to which principles of justice apply. Justice, he famously insists, is primary in politics as truth is in science: the only excuse for tolerating injustice is that no lesser injustice is possible. The point of the present paper is that Rawls doesn't actually mean this. When it (...) comes to the family, and in particular its impact on fair equal opportunity, (the first part of the Difference Principle, Rawls' second principle of justice), he abandons the priority of justice. I also argue that he is right to do so. -/- The central argument is simple. As Rawls admits, what family one is raised by profoundly affects one's life chances: a child raised by a family has far greater life chances on every dimension than one raised in a poorer family that may lack books, education, and time to give the child attention. But the prevailing family arrangements in the industrialized West, assigning children to be raised by their biological parents, is guaranteed to perpetuate this injustice. While Rawls says an unjust institution in the basic structure of society, in which he includes the family, must be, "reformed or abolished," he refrains from calling for the reform or abolition of the family. We must simply work around it to compensate for the injustices he admits it involves. And this despite the fact that alternative arrangements involving communal child-rearing (Plato) or assigning children to those best qualified to raise them (Rousseau) are common in the philosophical literature. Moreover, the practice of having children raised by their biological parents is a relatively recent one, at least in the West, where, before the late 18th century, fostering-out or apprenticeship arrangements were normal and expected for both rich and poor for centuries. -/- Much of the paper is devoted to fine-grained textual analysis of Rawls' attempts to avoid the devastating implications of this argument for his theory of justice -- much of which are stated only in the original edition of "A Theory of Justice" and simply deleted, without substitution by anything better, in the second edition. In the end, Rawls has no way out. He cannot keep the priority of justice, fair equality of opportunity, and the monogamous family in which children are raised by their biological parents. As he admits, these are mutually inconsistent. -/- In the final part of the paper, I argue that Rawls should give up on the priority of justice. While child-rearing by the biological parents is a historical anomaly, in the real modern world it would be politically unfeasible to institute Platonic, Rousseauean, or similar legislation that purportedly assigned children to those best able to raise them, regardless of biological relationship. Since Rawls is committed to principles of political stability and feasibility, as he should be, and since ought implies can, such proposals are off the table. I concur with Rawls that we must work around this injustice, even those there are more just arrangements available in principle. But the cost of this -- less high than Rawls suggests -- is abandoning the principle of the priority of justice. Justice is one of a number of considerations that we must or may balance in deciding on the best attainable social relations. It is not a trump. However, this comes a great cost for Rawls: he must also abandon the lexical ordering of principles of justice or, in general, right or good principles of social order, in favor of the messy intuitionist balancing that his theory is designed to avoid. -/- One feature of the paper that is worth independent attention is a discussion of Marx's rejection of justice in the Critique of the Gotha Program, which I explicate, and urge, without adopting it, that it has a great deal more force than is widely understood. (shrink)

Towards an Inclusive Democracy, it is argued, offers a powerful new interpretation of the history and destructive dynamics of the market and provides an inspiring new vision of the future in place of both neo-liberalism and existing forms of socialism. It is shown how this work synthesizes and develops Karl Polanyi’s characterization of the relationship between society and the market and Cornelius Castoriadis’ philosophy of autonomy. A central component of Fotopoulos’ argument is that social democracy can provide no (...) answer to neo-liberalism, so the only viable alternative to neo-liberalism is the form of inclusive democracy he elaborates. Reviewing Castoriadis’ concept of autonomy, it is argued that while Fotopoulos is certainly correct given the present deformed nature of social democracy, there is no reason to exclude social democracy as such from what Fotopoulos calls the tradition of autonomy. It is suggested that if the working class movement could free itself from the capitalist imaginary and return to its quest for autonomy, a synthesis of a radically reformed social democracy and inclusive democracy could greatly improve the prospects of each to successfully challenge not only neo-liberalism, but also the emerging liberal fascism of USA, Britain and Australia. (shrink)

The coronavirus has affected almost all sectors of the economy. Some areas have suffered and declined, while others have developed and benefited from the pandemic. Due to the COVID-19 pandemic, economies around the world have experienced a downturn. The effects of the pandemic will undoubtedly reverberate around the world for decades to come. The global threat of the COVID-19 epidemic has greatly affected people, families, communities and businesses. Countries have begun implementing a wide range of measures both within and between (...) countries to combat the humanitarian and commercial impact of COVID-19. The effects of the worldwide epidemic and the emergency situations to be taken in this context were felt more and more in business life. Considering that the epidemic progressed very quickly, it was observed that it caused constant negative pressure on business and stock markets. This situation is interpreted as a harbinger of a global crisis. On the other hand, issues such as disruptions in supply and distribution channels, closure of workplaces and ports, disruption of customs processes, lack of manpower and decrease in consumption, operations in the stock market continued in a negative direction day by day. The consistent exposure of COVID-19 around the world, especially in developing economies, suggests that developing economies are seen as a major driver of macroeconomic instability compared to developed countries. After the initiation of economic reforms, with the increase of national income, aggregate production and employment, the trend of increasing economic volatility in developing economies has also been observed. Considering all this, it can be noted that the topic of the article is quite relevant. In the article, the negative impact of the pandemic on the economy of the world, as well as Azerbaijan, is examined in a broad aspect, and the methods of eliminating the damage caused by it are determined. (shrink)

The growing appreciation of the global environmental crisis has generated what should have been a predictable response: those with power are using it to appropriate for themselves the world’s diminishing resources, augmenting their power to do so while further undermining the power of the weak to oppose them. In taking this path, they are at the same time blocking efforts to create forms of society that would be ecologically sustainable. If there is one word that could bring into focus what (...) is wrong with this response it is ‘democracy’. Democracy means power in the hands of the people, which, by definition, means opposition to the concentration of power. It is inconceivable that if we had genuine democracy, where people were fully informed of the issues, they would not choose to share the burdens of scarcity and organize to live in accordance with the limits of their environment. Yet the notion of democracy is problematic. Those striving to concentrate power are pursuing this in the name of democracy. They have identified democracy with the imposition of free markets and the freedom of people to use their wealth to dominate others. In this paper I will show how process philosophy provides the basis for justifying and further developing the traditional notion of democracy to counter this reformed notion, providing a vision of a democratic form of society that could address environmental problems. To achieve this, I will argue, it is necessary to reformulate the grand narrative of civilization on the basis of human ecology, a science which, construing humans as participants in a creative nature, can replace economics as the master science for formulating public policy. (shrink)

The main goal of this thesis is to provide a clear basis for the analysis of alternative currencies, such as Bitcoin, LETS, Local currencies, the WIR or Carbon currencies. It attempts to determine whether alternative currencies might constitute just and workable alternatives, either in the form of small-scale experiments or in the form of more radical reforms. The first chapter proposes a new way to classify currencies. The second examines the case in favour of monetary plurality. The third analyses (...) the claims in favour of restricting the use of money locally, within a community, or to certain goods. The fourth studies the link between money and the market. Finally, a post-scriptum focuses on Bitcoin and cryptocurrencies. This thesis highlights that these currencies are drivers of several potential conflicts. Their widespread use might conflict with the adequate management of monetary policy, with social justice, and with liberal values. These conflicts are potential, for they would come into existence only if alternative currencies increased in scope. However, there is no reason to disregard potential conflicts when the case in their favour relies mostly on their potential benefits. (shrink)

Between 2015 and 2017, a reform of teacher training policies was carried out in Colombia. The process of implementing this normativity is analyzed using the multiple case study methodology with five institutions in Bogotá and the consequences for these programs are examined: higher prices and reduction of students. It is evident that the implementation of the studied reform discouraged the training of teachers in philosophy. The changes implemented showed fractures in the legislation and a failure in the strategy of commodification (...) of education, since in an inequitable context like the Colombian one, solving the problems of education is not enough to regulate the education market. (shrink)

The Russian people are struggling to learn how to create a democracy and a market economy. This paper reviews the results of reform efforts to date and what the Russian people are learning as indicated by changes in answers to public opinion surveys. As a way to continue the social learning process in Russia we suggest the widespread use of process improvement methods in organizations. This paper describes some Russian experiences in using process improvement methods and proposes a strategy (...) for spreading the use of these methods through universities and then through businesses and government agencies. As people use process improvement methods, they gain confidence in their ability to improve the functioning of organizations and society. (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)

Abstract: We examined the relationship between New Public Administration and Service Delivery in Public Organizations in Nigeria. The main focus of new administration is the use of market techniques to improve the performance of the public sector. The main features of NPA include performance contracting, cost recovering, commercialization, decentralization and accountability among others. The study adopts a content analysis method through the use of secondary data. The study recommends among others that the implementation of the reform can be tackled (...) by being more practical, sensitizing public servants in an adequate/timely manner, and taking into cognizance the environmental realities of the Nigerian public service. It concludes that new public management is sine qua non for any civil service that wants to be effective in service delivery. (shrink)

Book synopsis This book is devoted to the condition of the university under the pressures of globalization, with particular reference to Central Europe. It is intended as a companion volume for all those who combine their academic and disciplinary research with wider interests in the functioning of higher education institutions under the new pressures affecting Central Europe. Drawing on its interdisciplinary nature and the wide range of scholars involved, it intends to outline a useful map of new, often challenging, areas, (...) topics and concerns to be taken into account in rethinking the function of the university today. -/- Contents Contents: Philip G. Altbach: Academic Freedom: International Realities and Challenges - Richard Rorty: Does Academic Freedom Have Philosophical Presuppositions? - Stanley N. Katz: Can Liberal Education Cope? - Marek Kwiek: The State, the Market, and Higher Education. Challenges for the New Century - Roger Deacon/Ben Parker: The Schooling of Citizens, or the Civilizing of Society? - Tadeusz Buksinski: The University and Learning in a Situation of Depression - Martin Jay: The Menace of Consilience: Keeping the Disciplines Unreconciled - Voldemar Tomusk: Towards a Model of Higher Education Reform in Central and East Europe - Wolf Lepenies: Im Osten viel Neues. Wissenschafts- und Kulturpolitik für Europa - Zbigniew Drozdowicz: Academic Accreditation: a Polish Case Study - Marek Kwiek: The Nation-State, Globalization and the Modern Institution of the University. (shrink)

Does browsing the world through a screen change a person, especially in the context of COVID-19? Recent studies indicate that self-care, psychological well-being, and empathy may suffer. The “Californian ideology” privileges expression of the self even as digital technology tends to interrupt the modern trend towards elaborating distinct selves via texts that convey knowledge. Meanwhile, digital browsing may be fracturing attention and empathy. -/- As these changes proceed, legislators react to a medical and social crisis. Relaxation of business, community center, (...) and school closures prevailed, under pressure from advocates of liberty, jobs, and pro-market economics. A rival set of regulatory reforms would prioritize fighting the virus and providing more relief to its victims as being forms of care for others. In the international domain, nationalist ideology and economic warfare intensify disparities in access to medical care, imported goods, and livelihoods. At stake is how best to take beings into care. (shrink)

Vietnam has exhibited rapid economic growth over thirty years of comprehensive economic reforms. However, about half of the country’s active population remains in agriculture. In order to characterize the role of agriculture and livestock in Vietnam’s structural transformation, we assess ongoing dynamics at three complementary scales: national, sectoral (agriculture and livestock) and local (district of Bavi). We show that the transition since Doi Moi (Renovation) has given rise to a political economy that provides incentives to industries and services. However, (...) labor abundance (due to population density) and limited land availability (85% of agricultural land is composed of less than 1 ha farms) have slowed the canonical structural transformation, and widened income inequality between agriculture and non-agricultural workers. In this ‘Lewis trap’ context, intensive livestock (as it is the case for aquaculture and horticulture) has played a significant role in increasing labor and land productivity, offering some perspectives to secure smallholder agricultural systems. But the emergence of those very intensive systems producing a lot of effluents has in the same time jeopardized sustainable development of rural and peri-urban areas. More recently, the political shift towards industrial corporate agriculture and large-scale farming has increased this pressure on the environment, and endangered inclusive agricultural development. Today, smallholder farming and rural communities encounter many challenges to exploit resources efficiently and gain access to input markets to achieve higher productivity and value added. To avoid the risk of poverty trap and to pursue a sustainable and inclusive development over the long run, deeper and wider reforms are needed based on smallholder viability, agroecological principles, and crop-livestock integration. (shrink)

This paper discusses the influence of digital media and its online presence on freedom of speech in Vietnam by analyzing three different kinds of emerging online media tools: blogosphere, electronic/online newspapers, and social media networks (SNSs). As a single- party socialist republic country, the controlling power of the media lays in the hands of the Communist Party of Vietnam (CPV). The Doi Moi reform in 1986, marketization and the introduction of the Internet in 1997 have slightly transformed the Vietnamese media (...) environment, however, it remains highly restricted. This paper explores several sources including academic research, research articles, as well as analysis of online press coverage in the Vietnamese media environment to examine governmental control over the media which influences the free flow of information. Understanding digital media developments within the Vietnamese online media environment helps us to understand how Vietnamese netizens utilize these tools to maximize their online freedom of speech, the CPV"s approach to regulate the Internet in order to maintain its legitimacy, and several challenges facing Vietnamese netizens including bloggers, journalists, and the wider public in the digital age. (shrink)

It is difficult to advance a point beyond what Keynes himself commented about his own vision in The General Theory of Employment, Interest and Money in 1936 (hereafter TGT) in its Chapter 24. It is also difficult to express a deeper thought than what Skidelsky wrote about Chapter 24 of TGT (cf. Skidelsky, 1997). The purpose of this article is to identify whether Chapter 24 of TGT is the gist of Keynes’s legacy, having set the foundations of macroeconomics in the (...) previous 23 Chapters. Relevant topics included in Chapter 24 are the consequences of full employment, the fate of income distribution, the future of overall wealth, the socialization of investment, saving, expectations, the role of the State in economies, the future of financial markets and the interaction between economics and other disciplines. Indeed this Chapter displays Keynes’s genius as a social philosopher, following the tradition of The Economics Possibilities for our Grandchildren (1930). In Chapter 24 he was taking a glance at his product as did Phillip II when he was observing the construction of his castle El Escorial in XVII Spain. Within his vision, is this piece of work a justification of capitalism? Keynes sees the State as both the spender and the employer of last resort, thereby proposing a new role for the government (Skidelsky, 1998). He also suggests a new role for the private sector and reconsiders the interrelation between the two sectors. He is fully optimistic about this issue, which he considers as evolutionary. In addition, Keynes blurs the distinction between economics and sociology, advancing new interdisciplinary hints in his thinking. Keynes is also concerned on the epistemological role of assumptions in order to obtain defensible conclusions. Thereafter the British economist proposes new methods. He was a neo-realist and was against the inductive method. In addition, it can be stated that TGT is grounded on new psychological laws and motivations, that is, on a new vision of humankind, especially the analyzed chapter. His topics are the bypassing of Classical Economics; the destiny of macroeconomics in both theoretical and policy terms, highlighting new roles for interest rates; savers and rentiers; and the relevance of the concepts of ideas, interests and power. In all these respects Keynes is once again far ahead of his time. Finally a debatable topic dealt with by Keynes in Chapter 24 of TGT is 1 PhD in Economics, Lancaster University, UK; Professor-researcher at ISEC Universidad de Negocios, Mexico City. socialisation of investment. This is in words of Skidelsky, a shift in the balance of social power. Keynes is thus in Chapter 24 of TGT a visionary and an idealist, a reformer, and certainly a trans-generational thinker. When he talks about the passion of thriftiness and the setting of reasonable financial rewards arising from financial instruments he is advancing explications for financial crises in terms of speculation. The open conclusion is that Chapter 24 contains the gist of Keynes’s mature philosophical thinking and legacy, confirming that for him attitudes are one of the most relevant issues in life. In addition, he considers that both social and psychological elements are necessary for a thorough understanding of economic issues and their consequences, such as peace and happiness. Section 1 is an introduction. Section 2 is both a literature review and a summary of Keynes’s general philosophical insights. Section 3 is an analysis of Chapter 24 of TGT in the specific fields of Epistemology, Ethics, Ontology, and Political and Social Philosophy. Section 4 is a conclusion. References are listed at the end of the article. (shrink)

It is difficult to advance a point beyond what Keynes himself commented about his own vision in The General Theory of Employment, Interest and Money in 1936 (hereafter TGT) in its Chapter 24. It is also difficult to express a deeper thought than what Skidelsky wrote about Chapter 24 of TGT (cf. Skidelsky, 1997). The purpose of this article is to identify whether Chapter 24 of TGT is the gist of Keynes’s legacy, having set the foundations of macroeconomics in the (...) previous 23 Chapters. Relevant topics included in Chapter 24 are the consequences of full employment, the fate of income distribution, the future of overall wealth, the socialization of investment, saving, expectations, the role of the State in economies, the future of financial markets and the interaction between economics and other disciplines. Indeed this Chapter displays Keynes’s genius as a social philosopher, following the tradition of The Economics Possibilities for our Grandchildren (1930). In Chapter 24 he was taking a glance at his product as did Phillip II when he was observing the construction of his castle El Escorial in XVII Spain. Within his vision, is this piece of work a justification of capitalism? Keynes sees the State as both the spender and the employer of last resort, thereby proposing a new role for the government (Skidelsky, 1998). He also suggests a new role for the private sector and reconsiders the interrelation between the two sectors. He is fully optimistic about this issue, which he considers as evolutionary. In addition, Keynes blurs the distinction between economics and sociology, advancing new interdisciplinary hints in his thinking. Keynes is also concerned on the epistemological role of assumptions in order to obtain defensible conclusions. Thereafter the British economist proposes new methods. He was a neo-realist and was against the inductive method. In addition, it can be stated that TGT is grounded on new psychological laws and motivations, that is, on a new vision of humankind, especially the analyzed chapter. His topics are the bypassing of Classical Economics; the destiny of macroeconomics in both theoretical and policy terms, highlighting new roles for interest rates; savers and rentiers; and the relevance of the concepts of ideas, interests and power. In all these respects Keynes is once again far ahead of his time. Finally a debatable topic dealt with by Keynes in Chapter 24 of TGT is 1 PhD in Economics, Lancaster University, UK; Professor-researcher at ISEC Universidad de Negocios, Mexico City. socialisation of investment. This is in words of Skidelsky, a shift in the balance of social power. Keynes is thus in Chapter 24 of TGT a visionary and an idealist, a reformer, and certainly a trans-generational thinker. When he talks about the passion of thriftiness and the setting of reasonable financial rewards arising from financial instruments he is advancing explications for financial crises in terms of speculation. The open conclusion is that Chapter 24 contains the gist of Keynes’s mature philosophical thinking and legacy, confirming that for him attitudes are one of the most relevant issues in life. In addition, he considers that both social and psychological elements are necessary for a thorough understanding of economic issues and their consequences, such as peace and happiness. Section 1 is an introduction. Section 2 is both a literature review and a summary of Keynes’s general philosophical insights. Section 3 is an analysis of Chapter 24 of TGT in the specific fields of Epistemology, Ethics, Ontology, and Political and Social Philosophy. Section 4 is a conclusion. References are listed at the end of the article. Keywords: Keynes, philosophy of economics, social philosophy, epistemology, method, ethics, ontology, uncertainty, full employment, income distribution, wealth, euthanasia of the rentier, saving, socialization of investment, O’Donnell, Carabelli, Fitzgibbons, Skidelsky. (shrink)

Over the past three decades, Vietnam has transitioned from an agrarian-based, centrally planned economy to a mixed economy with emerging market status. Additionally, projections indicate that Vietnam will be one of the world’s largest economies by 2050 if growth is sustained at present rates. The evolution of the financial sector, which began with the Doi Moi reforms in the mid-1980s, has been central to facilitating this growth. As the economy has expanded, Vietnam has maintained a gradualist approach to (...) developing market-based mechanisms of resource allocation. However, financial markets are still in an embryonic stage and substantial reform is required if the economy is to meet the expected rates of development. Against this backdrop, this dissertation critically evaluates trends and dynamics in Vietnam’s journey of financial development over the past three decades, with a particular emphasis on the experiences of small and medium-sized enterprises (SMEs). Drawing on quantitative analysis, secondary data and interviews conducted with a range of firms and stakeholders, I argue that financial development in Vietnam has had positive effects in terms of increasing access to funding for SMEs. As the financial system has developed, allocative efficiency has improved to the benefit of SMEs. However, some informants criticised the progress made to date, arguing that a funding mismatch still exists. Specifically, weak corporate governance, state-owned enterprises and a lack of derivatives have prevented effective capital market development. Given Vietnam’s high level of political corruption, this paper concludes that policy makers must place more attention on the political-economic structures of Vietnam if achieving middle-income status is to occur. Specifically, a tighter and more controlled effort to dismantle corporate bureaucracy and nepotism would allow better access to funding for Vietnamese SMEs. (shrink)

With the process of Vietnam's reform and opening up, Vietnam's economy has made remarkable achievements. Vietnam's manufacturing industry, taking advantage of the new liberal policies, has also achieved rapid development. Sufficient and cheap labor force, advantageous geographical location, preferential foreign investment policies, and friendly international trade environment with the technological upgrading of manufacturing industry are all the advantages of Vietnam in attracting manufacturing industry. However, there are structural difficulties in the Vietnam's economy. Vietnam's economy is highly dependent on foreign trade (...) and foreign investment, and its trade commodities are mainly assembly and processing with low added value. Compared with China, Vietnam also has obvious disadvantages in the scale of domestic market and supply chain. To some extent, Vietnam's manufacturing industry is integrated into China's supply chain network. (shrink)

The small school movement originated in the democratic ideology of Deborah Meier, who sought to create schools that gave students, parents, teachers, and all stakeholders in the communities they served a voice in education. In New York City, Meier's vision was implemented haphazardly by a group of business and political elites able to pour millions of dollars into an initiative without carefully considering the complex interests involved in creating new small schools. According to this author, this lack of forethought placed (...) students and parents at an even greater disadvantage than had existed previously. It was thought that the creation of small schools of choice would provide students, parents, and families the most appropriate education for their children, and that free market practices would create an environment of increased accountability and transparency, which would improve educational outcomes for all students. The author argues that these measures failed to improve educational equity and opportunities for students, and that they also placed students most in-need at an even greater disadvantage, thus hurting the very children these laws were created to help. She supports this argument using a critique of neoliberalism in the context of education as defined by Michael Apple, John Rawls's original position, and the application of Rawls's position in an educational context by Barry Bull. (shrink)