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Jorge E. Viñuales and Emma Lees
John O. Haley
Pablo Gabriel Bortz
This paper sets out to find commonalities and divergences in the writings of Marx, Kalecki and Keynes regarding their analysis of social (class) conflict in capitalist societies. We find evidence that shows that, contrary to a harmonious view of society, Keynes had a class stratification of society and an understanding of conflictive interests and developments compatible with that of Marx and Kalecki. The presence of political motivations as fuel for economic instability is another shared element between Kalecki and Keynes. Differences arise regarding the relative importance of the inter- and intra-class dynamic as a driver of distributive conflict, and the State's capabilities to guide or control those conflicts and their consequences.
Antonin Pottier and Adrien Nguyen-Huu
We examine to what extent the Keen model (Keen 1995) is a faithful modelling of Minsky's financial instability hypothesis. We focus on debt, money, and debt-induced crisis. We propose a clear interpretation of the debt: households lend unconsumed income to firms to finance their investments, and money creation is not necessary. We offer a detailed description of the economic collapse and analyse its causes thanks to numerical experiments. The crisis is triggered by profits squeezed by wages and not by debt overhang. We test alternative assumptions on the investors’ behaviour to show that behaviour at very low profits is fundamental. We conclude that the Keen crisis has few Minskyan flavours.
Waging accountability: why investigative journalism is both necessary and insufficient to transforming immigration detention
Academics, Activists and Policy-makers
In the chapter, a reporter for the New York Times who has written extensively about immigration detention policies in various countries assesses the limits that investigative journalism faces in spurring detention reforms. She argues that while journalism occupies a privileged place in a democracy because it helps hold government to account, in practice it operates at a far messier intersection between the politics of reform and the contingencies and conventions of even the most robust news operation. The author focuses her analysis on the relationship between investigative journalism and the early efforts of the Barack Obama administration to overhaul immigration detention by creating “a truly civil detention system.” Today, the US detention system is larger than ever, abuses remain endemic, the government has massively expanded its capacity to lock up mothers and children in “family residential centers,” and the new administration is threatening to ramp up already record numbers of deportations.
Jan M. Broekman and Frank Fleerackers
‘Thoughts Backing Speech’ underlines that law depends on specific speech acts. One cannot say anything at random in law and about written laws. That is not only the case in law and a lawyer’s profession, but also at peripheries of legal discourse, in a conversation on the street or other public spaces. That theme is disregarded in semiotic studies. Legal meaning-making, which does not take place within the profession, is difficult to trace. Our understanding of law as a citizen is, on the contrary, to a large extent determined by what is talked about, accepted or rejected, thought or neglected beyond the domain of valid law. Thoughts that back this type of speech confront us with major components of law’s discourse such as our evidence of thinking and judging when we discuss law in public. They also regard interactivity and interaction as constitutive in law practices. What unfolds outside the legal profession is often linked to concepts such as ‘nature’ and ‘natural’. ‘Legal consciousness’ is therefore reconsidered. The sign character of laws and their meaning reintroduce the semiotic relevance of human expressivity, of our understanding the multilingual character of reality in law, and of the basics of human rights – altogether issues that constitute every legal conversation anywhere. Keywords Street, Periphery of law, Interactivity, Interaction, Legal consciousness, Human rights, Multilingual realities
The Economics of an Emergent System Property
This chapter highlights the limits of current approaches to the economics of innovation. It also stresses their role in articulating a theory of innovation as an endogenous process that relies upon the characteristics of the system in which the response of firms to unexpected mismatches in both labour and factor markets takes place. The role of Marshallian contributions to Schumpeterian thinking is stressed.