Search results

You are looking at 1 - 10 of 74 items for :

  • "materiality" x
  • Economics and Business x
  • Refine by access: All content x
Clear All
Don Slater

5 Markets, materiality and the ‘new economy’ Don Slater Introduction The contemporary ‘cultural turn’ in thinking about economic processes has been deeply bound up with narratives of ‘dematerialisation’. We might start from Veblenesque stories of status symbols, and proceed through semiotic stories of ideologies and codes, through tales of post-industrial societies and service economies, through post-Fordist segmentation and lifestyling and finally on to knowledge, information or ‘weightless’ economies, ‘new economies’, global brands and digital commodities

in Market relations and the competitive process
Editors: Stan Metcalfe and Alan Warde

There has been increasing interest and debate in recent years on the instituted nature of economic processes in general and the related ideas of the market and the competitive process in particular. This debate lies at the interface between two largely independent disciplines, economics and sociology, and reflects an attempt to bring the two fields of discourse more closely together. This book explores this interface in a number of ways, looking at the competitive process and market relations from a number of different perspectives. It considers the social role of economic institutions in society and examines the various meanings embedded in the word 'markets', as well as developing arguments on the nature of competition as an instituted economic process. The close of the twentieth century saw a virtual canonisation of markets as the best, indeed the only really effective, way to govern an economic system. The market organisation being canonised was simple and pure, along the lines of the standard textbook model in economics. The book discusses the concepts of polysemy , idealism, cognition, materiality and cultural economy. Michael Best provides an account of regional economic adaptation to changed market circumstances. This is the story of the dynamics of capitalism focused on the resurgence of the Route 128 region around Boston following its decline in the mid-1980s in the face of competition from Silicon Valley. The book also addresses the question of how this resurgence was achieved.

The Foundation Economy Collective

fifteenth to the eighteenth century there were two further economic zones, one above and one below the market. Most of the world’s population lived in a quite different, mundane and slow-moving infra economy of ‘material life’. This was organised around immediate production and consumption rather than exchange. At the same time, above the market was a supra economy of a few merchants and financiers engaged in long distance trade and speculation (1981, p. 23). Braudel’s three-level scheme is specific to the early modern period, but his strategy of recognising a layer cake

in Foundational economy
Abstract only
Bill Dunn

thinking about money’s social relations and its material properties. The long first section begins with three central propositions from Marx. First, money is a social relation not a thing (CW vol. 6: 145). Second, money is primarily a measure of value as socially necessary labour time. Third, and more controversially for Marxists, precisely because it is a social relation, that measure is inherently imperfect. Amongst other things, money has different functions which potentially come into conflict with each other, potentially qualifying each other. It is then argued that

in Keynes and Marx
Problems of polysemy and idealism
Andrew Sayer

material aspects of economic life and in presenting an overly benign view which underestimates the instrumentality of most economic relations. Finally, I conclude with a reminder of the political significance of explanations of markets and competition. The multiple meanings of ‘market’1 If we are to discuss market relations and competition, we need to be clear on what the former involve. However, such is the variety of uses of the term ‘market’ that it is important to distinguish them if we are not to talk at crossed purposes. As Maureen Mackintosh observes, these are

in Market relations and the competitive process
Myth in the financial sector
Jack Mosse

the myth What distinguishes financial capitalism is that wealth is generated by the circulation of signs grounded in a seemingly endless play of signs rather than in the sale or exchange of material objects or physical labour. (Taylor) 7 XX Victoria street is like a city within a city; there is a café and some shops on the ground floor. The most striking thing is the quantity of space

in The pound and the fury
Abstract only
Thoreau in the city
Alison Hulme

to enrichen some and at best entail some form of ‘trickle-​down’ of that wealth to others (although there is rightly much scepticism about this). So, it stands to reason that for many, in fact most, people on the planet thrift in the form of frugality is simply a fact of everyday life. Historical discourses that present it as something that only occurs when times are economically tough, or amongst those who have enough to cut back a little, fail to recognise the material reality of the majority world.1 In addition, this account assumes that capitalism forms some

in A brief history of thrift

The well-being of Europe’s citizens depends less on individual consumption and more on their social consumption of essential goods and services – from water and retail banking to schools and care homes – in what we call the foundational economy. Individual consumption depends on market income, while foundational consumption depends on social infrastructure and delivery systems of networks and branches, which are neither created nor renewed automatically, even as incomes increase. This historically created foundational economy has been wrecked in the last generation by privatisation, outsourcing, franchising and the widespread penetration of opportunistic and predatory business models. The distinctive, primary role of public policy should therefore be to secure the supply of basic services for all citizens (not a quantum of economic growth and jobs). Reconstructing the foundational has to start with a vision of citizenship that identifies foundational entitlements as the conditions for dignified human development, and likewise has to depend on treating the business enterprises central to the foundational economy as juridical persons with claims to entitlements but also with responsibilities and duties. If the aim is citizen well-being and flourishing for the many not the few, then European politics at regional, national and EU level needs to be refocused on foundational consumption and securing universal minimum access and quality. If/when government is unresponsive, the impetus for change has to come from engaging citizens locally and regionally in actions which break with the top down politics of ‘vote for us and we will do this for you’.

Abstract only
Jack Mosse

. Reporting on the economy requires greater time to be taken, by the reporter investigating the story and also by the audience member, as both will need to engage with complex material. As such, economic reportage does not lend itself to the high-speed way we produce and consume news in the twenty-first century. The result of this difficult business context has been a polarisation of different types of economic reporting. On the one hand, there is abundant detailed coverage of economic issues in media outlets like Bloomberg or in The

in The pound and the fury
Open Access (free)
Crisis, reform and recovery
Shalendra D. Sharma

Development Fund (FIDF) to prop up failing financial institutions, while neglecting to take actions to remedy the underlying structural problems in the financial and banking sector. The puzzling question is why Thailand’s well-trained and highly professional technocrats made such serious policy errors. Drawing on the Bank of Thailand’s published materials, this chapter suggests that Thailand’s long period of economic boom had lulled the technocrats into complacency. Thinking that the sun would never set on the good times, they threw caution to the winds, becoming prisoners of

in The Asian financial crisis