Elite appropriation of economics – the case for (r)evolutionary political economy

capital2016 — Tue, 10 May 2016 20:15:27 +0000

This paper attempts to understand the ways in which power operates within the economics profession (problem orientation) in order to pinpoint requirements to address the identified problems. The findings suggest that the most powerful (mis)appropriate economics mainly through their political, economic and ethical power, together with allied economists. In employing these power structures and mechanisms, they are able to justify and maintain the status quo in terms of economics and the economic system. Therefore, it is concluded that it is essential to disempower the dominant economic elites in order to have a chance on (r)evolutions in economics and the economic system. However, such a process has to be coupled with processes that are emancipatory and empowering for the non-elite groups given the subjugatory character of power tools. In doing so, we offer a research approach based on a dual intentionality: descriptive and prescriptive (solution-oriented and emancipatory). The factors that obstruct (r)evolutions in economics are also indirectly pointed out as research areas in the pursuit of actually supporting (r)evolutions in economics. The same approach is possible to apply to the dominant economic system. In addition, it is also intended to be practical with a relatively short-term perspective, aiming to trigger a constructive transitional period, rather than pointing out permanent ideal conditions. The approach is labelled ‘(r)evolutionary political economy’. In this manner, this paper ends with three overlapping recommendations. The first one is research-oriented – to conduct more research in about factors that obstruct or construct (r)evolutions in economics. The second one is policy- oriented – to generate policy proposals that tackle those obstructive factors, and that expand those constructive factors. The third one is activist-oriented – to actively seek to change the economic system within which dissenting economists and scholars operate within. By pursuing these three lines of action, we may not only generate knowledge on (r)evolutions, but also contribute to the higher likelihood of (r)evolutions.

Economic Solutions for the Social Problems of Mass Migration, Persistent Alienation and Wanton Terrorism

capital2016 — Tue, 10 May 2016 20:00:25 +0000

A cogent approach to public policy based on economic principles could go a long way toward resolving a welter of social problems ranging from mass migration and persistent alienation to rampant crime and wanton terrorism. To this end, the first step is to separate the nubs of fact from the sea of dross that confounds the public debate on social policy amongst elected officials as well as private citizens. After clearing away the muddle, the problems may be tackled through a coherent strategy based largely on a battery of economic mechanisms. As a backdrop, the haphazard schemes of the policymakers to date have often exacerbated the problems in Western countries rather than mitigated the torments. An example lies in a shower of grants awarded to radical immigrants in the vain hope that the donations might prompt the recipients into scaling down their subversive activities. In actuality, though, the standard response of the dissidents is to accept the money as well as the imprimatur of official recognition by the government in order to bolster their own agenda in moulding impressionable minds and prodding the audience into opposing Western values. The disruptive actions of the dissidents might be virtual, as in insisting that women must submit to men in every aspect of their lives. Or the noxious schemes may be tangible, as in coaxing the acolytes into committing flagrant acts of terrorism. On the upside, though, the government could and should take a coherent approach to migration and integration that pays heed to the profound differences in culture between the newcomers and the incumbents. In this way, the policymakers can field a suite of constructive programs to help the outlanders in a trenchant way in adjusting to their host countries and turning into productive members of the society at large. The ultimate aim is to formulate a win-win strategy for the migrants as well as the natives.

Economics – Capital Accumulation, Production and Employment:

Elite appropriation of economics – the case for (r)evolutionary political economy

Economic Solutions for the Social Problems of Mass Migration, Persistent Alienation and Wanton Terrorism