Suchergebnisse

This book puts in place the groundwork for an alternative theory of money in a sociological perspective, proceeding by way of a critique of existing theories.

1. Introduction : money puzzles / Heiner Ganssmann -- 2. The role and the place of money and credit in the economy of ancient Mesopotamia / Johannes Renger -- 3. The Greek invention of money / Richard Seaford -- 4. Explaining the origin of money : interdisciplinary perspectives / N. Emrah Aydinonat -- 5. Weber's 'last theory of capitalism' and heterodox approaches to money and finance / John Smithin -- 6. Money and sovereignty : a comparison between Hobbes and modern money theory / Jean Cartelier -- 7. Statistical mechanics approach to the probability distribution of money / Victor M. Yakovenko -- 8. Money, credit and the structures of social action / Heiner Ganssmann -- 9. Money, liquidity and price / Bruce G. Carruthers -- 10. Understanding modern money : how a sovereign currency works / L. Randall Wray -- 11. Monetary equivalence and functionalism : implications for central banking / Dick Bryan and Mike Rafferty -- 12. From Marx to Minsky : the universal equivalent, finance to production and the deepening of the real subsumption of labour under capital in money manager capitalism / Riccardo Bellofiore -- 13. Money, expectations, physics and financial markets : paradigmatic alternatives in economic thinking / Hansjorg Herr -- 14. The second end of laissez-faire : the bootstrapping nature of money and the inherent instability of capitalism / Katsuhito Iwai.

One of the main questions in recent debates on the future of welfare states has been whether globalization or structural economic change will lead to convergence. To answer that question, the liberal welfare state of the United States & the conservative continental European welfare states are related to differences in the respective capitalist economies, using Soskice's distinction of liberal & coordinated market economies. Welfare states are described in terms of their performance in three fields: protection against labor market risks, protection against poverty & reduction of income inequalities. Performance differences remain impressive & can be summarily ascribed to the continuing dominant reliance of US capitalism on the threat of immiseration to induce work performance. While continental European production regimes typically use more positive work incentives, some pressures in European economies, especially the relentless push for income redistribution in favor of the rich & the weakness of unions, increase the probability of convergence. 3 Tables, 51 References. Adapted from the source document.

In Germany, unemployment is higher & more enduring while economic growth is lower than in other rich countries. German experts tend to explain this miserable performance by pointing to labor market failures induced by generous welfare state provisions. Against this, it is argued that German unemployment is due to low investments; & investments did not decline because wages depressed capital earnings. Rather, profits grew, but were drawn into capital exports. 2 Tables, 3 Diagrams, 38 References. Adapted from the source document.

The transition of East Germany from a socialist socioeconomic system to the western combination of capitalism, liberal democracy and the welfare state is examined in the perspective of potential lessons for other such transition processes in eastern Europe. The focus is on the way in which welfare state institutions as they have evolved in West Germany can be used to cope with the labour market problems which have emerged in East Germany. It is argued that the general nature of West German welfare state programmes is patterned by the insurance principle and that their corresponding normative foundation is not suitable to achieve the integration of East Germans into a German society formed by the institutions of former West Germany, even if enormous economic resources are used to cushion the transition process.