Monthly Archives: October 2011

The Making of British Socialism

This impressive book offers a fresh perspective on the emergence of British socialism in the late 19th century, demonstrating that it was not a working-class movement demanding state action, but a creative campaign of political hope promoting social justice, personal transformation … Continue reading

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How Economic Inequality Harms Societies

A British social epidemiologist Richard Wilkinson has studied for decades the social effects of income inequality and how social forces affect health.  In this disturbing and important talk he charts the hard data on economic inequality in various countries, and shows … Continue reading

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Sociology of Markets and Economic Sociology

What is a market? Do we really participate in market activity on a daily basis?  What does economic sociology contribute to a deeper understanding of markets, in comparison to economics? In this informative book Patrik Aspers presents a comprehensive sociological view of … Continue reading

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Martin Luther King: “All Labor Has Dignity”

“We need an economic bill of rights. This would guarantee a job to all people who want to work and are able to work. It would also guarantee an income for all who are not able to work.” (Martin Luther … Continue reading

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The Instability of Inequality and Unregulated Capitalism

Nouriel Roubini: “Unregulated capitalism can lead to regular bouts of over-capacity,under-consumption, and the recurrence of destructive financial crises, fueled by credit bubbles and asset-price booms and busts… Any economic model that doesn’t properly address inequality will eventually face a crisis of … Continue reading

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Age of Greed: The Triumph of Finance and the Decline of America

Age of Greed  by Jeff Madrick is a fascinating and deeply disturbing tale of hypocrisy, corruption, and insatiable greed. But more than that, it’s a much-needed reminder of how we got into the 2007-8 crisis after the four-decade sweeping march of neoliberalism. … Continue reading

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Progress for the Poor

One of the principal goals of antipoverty efforts should be to improve the absolute living standards of the least well-off. Drawing on the experiences and date of twenty countries since the 1970s, Lane Kenworthy (University of Arizona) addresses in his … Continue reading

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Financial Centres and International Capital Flows in the 19th and 20th Centuries

As interest in financial markets intensifies, stimulated by the financial crisis of the early 21st century, Financial Centres and International Capital Flows in the Nineteenth and Twentieth Centuries, a new volume edited by Laure Quennouëlle-Corre and Youssef Cassis, brings together leading authorities in … Continue reading

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Values and Networks: Former Classmates invest in the Same Stocks

“Is College a Focal Point of Investor Life?” (free access) is an interesting article published in Review of Finance by Massimo Massa and Andrei Simonov, in which they analyze the link between college interaction and portfolio choice. The researchers consider both the general imprinting … Continue reading

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Regulating International Finance and the Evolving Imbalance of Capitalisms since the 1970s

This worth-reading paper puts the ongoing G20 process of improving the regulation of international finance into a historically informed perspective. To understand the driving forces behind and obstacles to international cooperation in governing finance, Thomas Kalinowski (Max Planck Institute for … Continue reading

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Identity Economics: Economists discover norms and social values

George Akerlof and Rachel Kranton’s Identity Economics: How Our Identities Shape Our Work, Wages, and Well-Being provides an important and compelling way to understand human behavior, revealing how our identities–and not just economic incentives–influence our decisions. In 1995, economist Rachel Kranton … Continue reading

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Behavioral Economics vs. Neoclassical Economics

In his recent article “Behavioral Economics: Toward a New Paradigm” a noted scholar Amitai Etzioni (George Washington University) discusses the challenges behavioral economics poses for neoclassical economics and the ways in which the young field may move forward. After reviewing some … Continue reading

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