Political Economy Commons^™

From Models To Modules: Towards A Change Of Approach In Postcapitalist Political Economy, Simon Tremblay-Pepin

Emancipations: A Journal of Critical Social Analysis

In this article, I take for granted the existence of a field of social sciences called postcapitalist political economy. This field of research emanates from the critique of capitalism and seeks to establish, in theory and practice, alternative political and economic systems to capitalism. I argue that in its late and post-Soviet period (1988 – 2012), this field has mostly, but not solely, been based on debates between all-encompassing models. Analyzing its contemporary period (2013 to now), I will sustain that we are partly witnessing a transfer from a model-based approach to a modular one. I present six arguments to …

Millennials Will Pay The Price: Demographic Imbalance And Reform Inertia In Canada’S And Spain’S Pension Systems, Javier E. Burgos Oliva

Journal of New Finance

This paper examines how demographic imbalance and policy inertia undermine intergenerational equity in Canada’s partially funded and Spain’s pay-as-you-go pension systems. Despite structural differences, both nations transfer financial risks to Millennials and Gen Z due to aging populations, low fertility, and political resistance to reform. Using a comparative political economy framework and a stylized hyperbolic discounting model, the study shows institutional design alone cannot prevent unsustainability when incentives favor short-term gains. Policy recommendations include automatic adjustment mechanisms, independent fiscal councils, and private pension incentives.

The Road To Gerontocracy, Juan David Bohorquez Pacateque, Alonso Morales Sánchez Mejorada, Paul Alexander Villegas Muñoz

Journal of New Finance

The purpose of this article is to develop a reform proposal for current pension systems based on a robust political economy approach. The research is documentary, conducting critical analysis of texts and evidence collection from various pension schemes from a public choice perspective to elaborate a comparative institutional analysis. Pension schemes, being influenced by political processes, are susceptible to adopting institutions that are inefficient, so a politically and economically robust reform is proposed. In conclusion, taking into account that pension systems can be co-opted by the political process, it is not sufficient to propose financially sustainable schemes but also ones …

Analyzing Retirement Systems Through A Triad Framework: Lessons For U.S. Reform, Romina Boccia, Ivane Nachkebia

Journal of New Finance

As U.S. Social Security approaches insolvency, this paper analyzes the program’s challenges through a political economy lens and makes two new contributions. First, it introduces a normative triad framework for evaluating retirement systems based on individual autonomy, fiscal sustainability, and poverty alleviation. Second, it applies this framework to five advanced economies—Canada, Germany, New Zealand, Sweden, and the U.S.—to identify institutional features associated with differences in outcomes. Deriving implications for U.S. reform, we propose four recommendations: transition Social Security to a flat-benefit system, slow benefit growth, adopt automatic stabilizers, and expand flexible savings options.

The Political Economy Of Mandatory Disclosure: A Literature Review, Hao Liang, Hanyu Zhang

Research Collection Lee Kong Chian School Of Business

Reviewing the literature on mandatory corporate disclosure from a political economy perspective, we synthesize the classic justifications for disclosure regulations while emphasizing why voluntary disclosure often fails to achieve socially efficient transparency. We also highlight how legal institutions, enforcement capacity, and political forces shape the design, credibility, and effectiveness of disclosure mandates. Drawing on evidence from international and China-focused studies, we review empirical findings on how mandatory disclosure affects investor protection, information environments, and firm behavior, showing that similar reporting rules yield different outcomes across institutional settings. We further extend the discussion to ESG and climate-related disclosure to examine emerging …

Boundaries Of Inequality: The Political Economy Of Redlining And Modern Mortgage Credit, Kyle Guo

Harvey M. Applebaum ’59 Award

This paper investigates the legacy of historical redlining on contemporary access to mortgage credit across three distinct urban policy environments: Baltimore, Philadelphia, and Manhattan. I find that while historical redlining is associated with a statistically significant negative effect on mortgage approval rates, the magnitude of this direct effect is relatively small. In comparison, applicant race, particularly for Black applicants, is a stronger predictor of mortgage approval rates across cities and models. This study utilizes 1930s Home Owners’ Loan Corporation (HOLC) residential security maps and Home Mortgage Disclosure Act (HMDA) data from 2007 to 2017, and uses ordinary least squares (OLS) …

From Index To Impact: How Vietnam’S Provincial Competitiveness Index Shapes Governance, Investment And Reform, Edmund J. Malesky

Asian Management Insights

Why business leaders should watch Vietnam’s subnational reform experiment closely.

Opportunities, Challenges, And Conspicuous Absences: An Integrative Review Of The Social Work Literature On Artificial Intelligence, Michael J. Massey, Ian G. Williams, Grace C. Polistina, Eathan A. Breaux

Publications and Research

INTRODUCTION: Social work discourse regarding artificial intelligence (AI) in practice, research, and education has proliferated over the last 5 years, reflecting both excitement over its potential and ambivalence about its ethical challenges. However, the extent to which social work is fully engaging with the structure of AI and its enormous impacts on the environment, labour, and distribution of power remains unclear.

METHODS: An integrative review of social work literature from 2020–2024 was conducted to address two research questions: 1) What is the nature of the social work discourse related to AI? 2) To what extent is the discourse …

Review Of James K. Galbraith And Jing Chen, Entropy Economics: The Living Basis Of Value And Production (The University Of Chicago Press, 2025), Panos Tsoukalis

Emancipations: A Journal of Critical Social Analysis

No abstract provided.

Entropy Economics And American Politics In A Multipolar World. An Interview With James K. Galbraith. (Interviewed By Lillian Cicerchia), Lillian Cicerchia, James K. Galbraith

Emancipations: A Journal of Critical Social Analysis

No abstract provided.

Overcoming Obstacles To Equitable Energy Transitions And Promoting Energy Sovereignty For Us Tribal Nations, Don Lee

Dissertations, Master's Theses and Master's Reports

This dissertation explores the potential of equitable energy transitions guided by the tenets of energy justice with a focus on Tribal energy sovereignty through renewable energy development. It contributes to the literature on the social acceptance of energy systems, public perceptions of renewable energy transitions, the ramifications of US federal Tribal law on Tribal energy development and sovereignty, and the implications of conforming to capitalist logics in the energy justice literature.

To understand the importance of building reciprocal and collaborative relationships, our team of researchers and Tribal members collaborated on the development of a methodology to survey respondents in a …

Partisan Perspectives On Inflation: Exploring Bias In Economic Expectations, Anna Durall

Economics Honors Projects

Inflation expectations are important determinants of future inflation and individual consumer behavior. Recent attention has been devoted to individual-level heterogeneity in inflation expectations. I consider political partisanship as a source of heterogeneity and question whether expectations are biased by partisanship. I find that they are, i.e., that individuals from the president's political party expect lower inflation relative to members of the opposing party (this difference is statistically insignificant during the Bush presidency), and that this result cannot be explained by additional sources of heterogeneity. I also examine whether belonging to the president's political party affects the rationality of expectations and …

The Will To Chaos And Disorder: The Behemoth As A Model Of Political Economy, Bernard E. Harcourt

Faculty Scholarship

The history of political economy is tormented by beasts. The most famous is the Leviathan, the giant serpentine monster that figures in Hobbes’s masterpiece of modern political theory. Robert Fredona and Sophus Reinert spotlight another sea monster, the Kraken, that giant octopus or squid with a particular morphology (i.e., its tentacles) that so fittingly describes the grip of multinational corporations, stateless financial capital, social media, and tech giants today. But there are still other monsters in the bestiary of political economy. In this essay, I highlight the Behemoth, a land monster that captures another critical dimension of political economy: the …

What Does One Billion Dollars Look Like?: Visualizing Extreme Wealth, William Mahoney Luckman

Dissertations, Theses, and Capstone Projects

The word “billion” is a mathematical abstraction related to “big,” but it is difficult to understand the vast difference in value between one million and one billion; even harder to understand the vast difference in purchasing power between one billion dollars, and the average U.S. yearly income. Perhaps most difficult to conceive of is what that purchasing power and huge mass of capital translates to in terms of power. This project blends design, text, facts, and figures into an interactive narrative website that helps the user better understand their position in relation to extreme wealth: https://whatdoesonebilliondollarslooklike.website/

The site incorporates …

Democratic Facades, Authoritarian Penchants: Post-Communist Monetary Restructuring In The Baltic States, Jokubas Salyga

Political Science Faculty Publications

This paper argues that the paths taken by Estonia and Latvia in their departure from the rouble zone are illustrative of authoritarian neoliberal governance. By challenging the widely assumed simultaneity of ‘democratic’ and ‘market’ revolutions, it critiques institutionalist literature on Baltic exchange-rate regimes and sheds light on the various methods employed to curtail democratic political discourse and participation. The paper delves into the origins of the Baltic neoliberal historical blocs and identifies the social forces that influenced the development of monetary reform initiatives. It then explores the construction of exchange-rate systems through the lens of power struggles within the state …

Unwilling Gamblers And Loaded Dice: Considering Recession And Crisis As A Natural Effect Of Financial Capitalism, Darlene N. Moorman

The Downtown Review: An Interdisciplinary Journal Written and Peer-Reviewed by Mandel Honors College Students at Cleveland State University

Under financial capitalism, ordinary people are increasingly becoming 'unwilling gamblers' of a risky and unstable system. This paper explores the social and institutional change behind the neoliberal movement and considers how the politics and policies of neoliberalism have contributed to a certain environment of financial instability. Looking at the changing nature of the economy, the rapid expansion of the financial sector, and the persisting issue of moral hazard underlying risky and speculative behaviors among other items, reveals a financial system in which recessions and crises can be considered a natural, although not inevitable, effect.

The Imaginary And Epistemology Of Disaster Preparedness: The Case Of Japan's Nuclear Safety Failure, Hiro Saito

Research Collection School of Social Sciences

The Fukushima nuclear disaster was profoundly a man-made one, resulting from the organizational failure of nuclear emergency preparedness. To fully understand the cause of this disaster, I propose to extend an organizational perspective on disasters into a macro-institutional perspective on disaster preparedness. To this end, I borrow from science and technology studies the concepts of "sociotechnical imaginary" and "civic epistemology" to probe the deepest layers of meaning-making constitutive of disaster preparedness. I then apply these concepts to the history of nuclear energy in postwar Japan that was centered on the developmental state pursuing industrial transformation. Specifically, I illustrate how the …

Perceptions Of Economic Vulnerability And Public Opinion In The United States: A Theoretical, Historical, And Quantitative Approach, Cody R. Melcher

Dissertations, Theses, and Capstone Projects

This dissertation combines three related essays that analyze the effect of the perception of economic vulnerability on the social and political attitudes of Americans. Through a heterodox reading of W.E.B. Du Bois’s intellectual work and political career in the latter half of his life, the first essay develops the theoretical thrust of the dissertation. It is argued that Du Bois primarily grounds white supremacy in an elementary feature of capitalism: the fact that survival under capitalism presumes the successful engagement, either directly or indirectly, with the labor market. Due to the historical legacy of slavery, however, labor market competition in …

‘Vox Populi?:’ Assessing Nato Popularity Relative To Political And Economic Indicators In Selected Member Nations, Zachary W. Cheek

Undergraduate Economic Review

This paper seeks to identify the impact of political and economic conditions on a nation’s popularity/favorability ratings towards North Atlantic Treaty Organization, the world’s most powerful military alliance. It is found that in random-effect models there exists a significant positive relationship between a country’s democratic strength and favorability, as well as a negative relationship regarding unemployment. In fixed-effect models, however, there is slight evidence of a positive relationship with per-capita GDP, as well as negative relationships with the unemployment rate and the trade index. Overall, differences in member-nations largely account for whether democratic or macroeconomic conditions influence support.

The Impact Of Afghan Opium Cultivation On The U.S. Opioid Epidemic, Zachary Wahab Cheek

UNL Student Research Days Posters, Undergraduate

I argue here that increases in Afghan opium cultivation, the most prolific in the world, has depressed American prescription opioid and heroin prices, thereby increasing abuse risk in U.S. addict populations and increasing death rates. Utilizing a two-stage regression model with a sparse dataset from several national and international sources, I find evidence that a one percent increase in Afghan opium production is associated with a 0.122 percent increase in prescription opioid overdose deaths, and a 0.367 percent increase in heroin overdose deaths. Assessing the 2001-2002 Taliban opium ban with an identification strategy, I find that in this timeframe prescription …

Marx, Critical Theory, And The Treadmill Of Production Of Value: Why Environmental Sociology Needs A Critique Of Capital, Alex Stoner

Journal Articles

This chapter explores the domestication of Marx’s critique of political economy within Marxist-oriented environmental sociology, and treadmill of production (ToP) theory, in particular. The aim is to explicate the theoretical resources for a rigorous critique of capital-induced planetary degradation. Shortcomings of ToP theory pertaining to the conceptualization of capital and value are identified. The reasons for these shortcomings, including how they might be addressed, are elaborated by reconsidering key aspects of Marx’s critical theory of modern capitalist society. The chapter contributes to current discussions in both critical theory and environmental sociology by demonstrating the continued relevance of Marx’s critical theory …

Adam Smith, Settler Colonialism, And Limits Of Liberal Anti-Imperialism, Onur Ulas Ince

Research Collection School of Social Sciences

Recent scholarship has claimed Adam Smith's frontal attack on the mercantile system as a precocious expression of liberal anti-imperialism. This paper argues that settler colonialism in North America represented an important exception and limit to Smith’s anti-imperial commitments. Smith spared agrarian settler colonies from his invective against other imperial practices like chattel slavery and trade monopolies because of the colonies’ evidentiary significance for his “system of natural liberty.” Smith’s embrace of settler colonies involved him in an ideological conundrum insofar as the prosperity of these settlements rested on imperial expansion and seizure of land from the indigenous peoples. Smith navigated …

The Need For Economic Diversification In The Oil-Dependent Nations Of Saudi Arabia, Uae, And Nigeria: Possible Pathways And Outcomes, Alia Alzubair

Senior Theses

Economic diversification is seen as a key to the political and economic survival of Saudi Arabia, the UAE, and Nigeria. Each nation is currently considered an oil-dependent country, meaning that the bulk of its income comes from oil. Since oil will soon be depleted and other countries are moving toward green technology, the demand for oil is expected to continue to drop. Hence, the need for diversification. This paper conducts a comparison of the key policies each country is attempting to implement to produce a diversified economy. The paper concludes that various factors will prevent each country from successfully diversifying …

Crisis And Catalonia: An Analysis On The Impact Of Crisis On The Public Opinion Of The Secessionist Movement In Catalonia, Rachel Ducker

Honors Theses

Catalonia, the autonomous region of Spain has seen an increase in secessionist sentiments in recent years. While the past inclination toward independence has been centered on economic autonomy and cultural identity, there has been a recent emphasis on political independence, particularly in the times of crisis. In this thesis. I analyze the relationship between the economic changes during the period of a crisis and the public opinion about the potential Catalan secession. Specifically, it investigates the relationships between the economic change and public sentiment during the financial crisis of 2008, the political crisis of 2017, and the pandemic crisis of …

The Financial Facet To Sino-African Cooperation: Analyzing Potential Motivations Behind Chinese Investment In African Countries, Jacob T. Carnevale

Political Science Theses and Capstones

China’s reputation transitioned from political isolation throughout the twentieth century to international influence in the twenty-first century. We see this in the continent of Africa, especially, where multiple countries experience political and economic hardships. Today, China invests in African countries to alleviate these hardships and strengthen foreign relations. Some scholars contend that much of China’s approach to foreign direct investment (FDI) in Africa stems from China’s domestic interests, while other scholars contend it is more about relationship-building. Taking note that China does both, I ask which aspect to Sino-African relations primarily motivates Chinese lending in Africa. To analyze this question, …

The Developmental State And Public Participation: The Case Of Energy Policymaking In Post-Fukushima Japan, Hiro Saito

Research Collection School of Social Sciences

After the Fukushima Daiichi nuclear disaster, the Japanese government tried to democratize energy policy-making by introducing public participation. Over the course of its implementation, however, public participation came to be subordinated to expert committees as the primary mechanism of policy rationalization. The expert committees not only neutralized the results of public participation but also discounted the necessity of public participation itself. This trajectory of public participation, from its historic introduction to eventual collapse, can be fully explained only in reference to complex interactions between the macroinstitutions and microsituations of Japanese policy-making at the time of the nuclear disaster: the macroinstitutional …

Economies Of Security: Foucault And The Genealogy Of Neoliberal Reason, Marshall Scheider

Gettysburg Social Sciences Review

Michel Foucault is well-known for his theorizations of institutional power, normativity, and biopolitics. Less well-known is the fact that Foucault developed his analysis of biopolitics in and through his historical investigation of neoliberalism. Today, while critique of neoliberalism has become a commonplace of humanities discourse, and popular resistance to neoliberalization rocks the southern hemisphere, it remains unclear that the historical specificity of neoliberalism is well-understood. In particular, the relation between classical liberalism and neoliberal governance remains murky in popular debate. As Foucault powerfully illustrates, this relation is far from clear-cut, and neoliberalism is not reducible to a simple extension of …

The Nuances Of Capital Controls In Economic Development: Argentina And Chile, Reagan A. Shane

Global Tides

In this paper, I analyze the ways that capital controls affect growth and economic development in developing countries and emerging market economies and use the historical evidence of Chile and Argentina to demonstrate how countries may experience the effects of capital controls in different proportions. I then review additional academic literature and historical evidence in Chile and Argentina to determine what factors seem to determine the success or failure of capital control strategies. I find two influential factors in the determination of whether implementation of capital controls helps or hurts economic growth and development. The first is whether capital controls …

Integration Of And Deliveries Among The World Zionist Organization, Israel, And Diaspora Countries: System Articulation With The Social Fabric Matrix, F. Gregory Hayden

Department of Economics: Faculty Publications

The religious economics (not economics of religion) concern here is the relationship between the World Zionist Organization (WZO) and Israel, which is known as a geopolitical power in its region and which is also known as an economic success story. Joseph Schumpeter and Karl Polanyi explained how the political economy of medieval Europe was influenced and guided by Christian morality. This paper extends the analysis of religious economics by using the social fabric matrix of original institutional economics to define and structure the integration of the WZO, Israel, and the Diaspora countries. This allows us to observe how to conduct …

Worker Cooperatives And Social Transformation: An Anti-Essentialist Marxist Perspective, Zachariah D. Thanasilangkul

Electronic Theses and Dissertations

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