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Capitalism on Trial
Explorations in the Tradition of Thomas E. Weisskopf
9781781003602 Edward Elgar Publishing
This volume presents a collection of essays honoring Professor Thomas E. Weisskopf, one of the most prominent contributors to the field of radical economics. Beginning his academic career at Harvard before moving to the University of Michigan at Ann Arbor, Professor Weisskopf has spent the past forty years exploring through highly innovative and rigorous research the questions of economic equality, social justice and environmental responsibility. The chapters in this book reflect the main subjects of Professor Weisskopf’s work and seek to foster continued innovation in these research areas.
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Contributors
Contents
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This volume presents a collection of essays honoring Professor Thomas E. Weisskopf, one of the most prominent contributors to the field of radical economics. Beginning his academic career at Harvard before moving to the University of Michigan at Ann Arbor, Professor Weisskopf has spent the past forty years exploring through highly innovative and rigorous research the questions of economic equality, social justice and environmental responsibility. The chapters in this book reflect the main subjects of Professor Weisskopf’s work and seek to foster continued innovation in these research areas.
The diverse contributions to this volume explore the impressive range of Professor Weisskopf’s research themes. These include the economics of developing countries, US imperialism, Marxian crisis theory, contemporary economic history and institutional development, affirmative action policies, and the potential of socialism as an alternative to capitalism for developing non-exploitative societies. In addition to 26 chapters by leading economists, this book also includes a chapter by Professor Weisskopf himself, in which he reflects on his own career in economics as well as the state of the U.S. and global economies. The volume also includes a full bibliography listing Professor Weisskopf’s publications.
Students, professors and researchers working in any branch of economics will find much of interest in this set of wide-ranging studies building from the themes advanced by Thomas Weisskopf.
The diverse contributions to this volume explore the impressive range of Professor Weisskopf’s research themes. These include the economics of developing countries, US imperialism, Marxian crisis theory, contemporary economic history and institutional development, affirmative action policies, and the potential of socialism as an alternative to capitalism for developing non-exploitative societies. In addition to 26 chapters by leading economists, this book also includes a chapter by Professor Weisskopf himself, in which he reflects on his own career in economics as well as the state of the U.S. and global economies. The volume also includes a full bibliography listing Professor Weisskopf’s publications.
Students, professors and researchers working in any branch of economics will find much of interest in this set of wide-ranging studies building from the themes advanced by Thomas Weisskopf.
Contributors
Contributors: R. Albelda, M. Ash, S. Bowles, J.K. Boyce, J. Crotty, W. Darity Jr, A. Deshpande, G. Epstein, D. Flaherty, N. Folbre, J. Heintz, S. Khan, K. Knight, D.M. Kotz, H.A. Lee, M. Li, A. MacEwan, E. McCrate, J. Miller, F. Moseley, R. Pollin, M. Reich, E.A. Rosa, J.B. Schor, G.L. Skillman, F. Thompson, M. Weisbrot, T.E. Weisskopf, J. Wicks-Lim, A. Zimbalist
Contents
Contents:
Introduction
Robert Pollin and Jeannette Wicks-Lim
PART I: REFLECTIONS ON THOMAS E. WEISSKOPF’S CONTRIBUTIONS TO POLITICAL ECONOMY
1. Three’s a Crowd: My Dinner Party with Karl, Leon, and Maynard
Samuel Bowles
2. Theses on Weisskopf
Robert Pollin
3. Comment
Diane Flaherty
PART II: ISSUES IN DEVELOPING ECONOMIES
4. The Military and Economic Development in Pakistan
Shahrukh Khan
5. Socialism: The Twentieth Century and the Twenty-first Century
Minqi Li
6. Economic Growth: The Great Slowdown (1980–2000) and Recovery (2000–2010)
Mark Weisbrot
7. Comment
James K. Boyce
PART III: POWER DYNAMICS IN CAPITALISM
8. The Wealth–Power Connection
Arthur MacEwan
9. The Rise and Decline of Patriarchal Capitalism
Nancy Folbre
10. Comment
Andrew Zimbalist
PART IV: TRENDS IN US LABOR MARKETS
11. The Rising Strength of Management, High Unemployment, and Slow Growth: Revisiting Okun’s Law
Michael Reich
12. Reducing Growth to Achieve Environmental Sustainability: The Role of Work Hours
Kyle Knight, Eugene A. Rosa and Juliet B. Schor
13. Comment
Michael Ash
PART V: DISCRIMINATION AND THE ROLE OF AFFIRMATIVE ACTION POLICIES
14. Confronting Those Affirmative Action Grumbles
William Darity Jr
15. Screening for Honesty and Motivation in the Workplace: What Can Affirmative Action Do?
Elaine McCrate
16. A Stimulus for Affirmative Action? The Impact of the American Recovery and Reinvestment Act on Women and Minority Workers in Construction
Jeannette Wicks-Lim
17. Comment
Randy Albelda
18. Social Justice through Affirmative Action in India: An Assessment
Ashwini Deshpande
19. Comment
Hwok Aun Lee
PART VI: MACROECONOMIC ISSUES IN THE UNITED STATES
20. How Big is Too Big? On the Social Efficiency of the Financial Sector in the United States
Gerald Epstein and James Crotty
21. Unpacking the US Labor Share
James Heintz
22. Comment
John Miller
PART VII: APPLICATIONS OF MARXIST ECONOMIC THEORY
23. Social Structures of Accumulation, the Rate of Profit, and Economic Crises
David M. Kotz
24. Exploitation without Subsumption: The Scope and Limits of Proto-Industrial Exploitation
Gilbert L. Skillman
25. Morally Arbitrary Economic Advantage
Frank Thompson
26. Comment
Fred Moseley
PART VIII: REFLECTIONS BY THOMAS E. WEISSKOPF
27. Presentation to the Festschrift Conference at the Political Economy Research Institute of the University of Massachusetts Amherst, October 1, 2011
Thomas E. Weisskopf
Biography of Thomas Emil Weisskopf
Bibliography of the Writings of Thomas Emil Weisskopf
Index
Introduction
Robert Pollin and Jeannette Wicks-Lim
PART I: REFLECTIONS ON THOMAS E. WEISSKOPF’S CONTRIBUTIONS TO POLITICAL ECONOMY
1. Three’s a Crowd: My Dinner Party with Karl, Leon, and Maynard
Samuel Bowles
2. Theses on Weisskopf
Robert Pollin
3. Comment
Diane Flaherty
PART II: ISSUES IN DEVELOPING ECONOMIES
4. The Military and Economic Development in Pakistan
Shahrukh Khan
5. Socialism: The Twentieth Century and the Twenty-first Century
Minqi Li
6. Economic Growth: The Great Slowdown (1980–2000) and Recovery (2000–2010)
Mark Weisbrot
7. Comment
James K. Boyce
PART III: POWER DYNAMICS IN CAPITALISM
8. The Wealth–Power Connection
Arthur MacEwan
9. The Rise and Decline of Patriarchal Capitalism
Nancy Folbre
10. Comment
Andrew Zimbalist
PART IV: TRENDS IN US LABOR MARKETS
11. The Rising Strength of Management, High Unemployment, and Slow Growth: Revisiting Okun’s Law
Michael Reich
12. Reducing Growth to Achieve Environmental Sustainability: The Role of Work Hours
Kyle Knight, Eugene A. Rosa and Juliet B. Schor
13. Comment
Michael Ash
PART V: DISCRIMINATION AND THE ROLE OF AFFIRMATIVE ACTION POLICIES
14. Confronting Those Affirmative Action Grumbles
William Darity Jr
15. Screening for Honesty and Motivation in the Workplace: What Can Affirmative Action Do?
Elaine McCrate
16. A Stimulus for Affirmative Action? The Impact of the American Recovery and Reinvestment Act on Women and Minority Workers in Construction
Jeannette Wicks-Lim
17. Comment
Randy Albelda
18. Social Justice through Affirmative Action in India: An Assessment
Ashwini Deshpande
19. Comment
Hwok Aun Lee
PART VI: MACROECONOMIC ISSUES IN THE UNITED STATES
20. How Big is Too Big? On the Social Efficiency of the Financial Sector in the United States
Gerald Epstein and James Crotty
21. Unpacking the US Labor Share
James Heintz
22. Comment
John Miller
PART VII: APPLICATIONS OF MARXIST ECONOMIC THEORY
23. Social Structures of Accumulation, the Rate of Profit, and Economic Crises
David M. Kotz
24. Exploitation without Subsumption: The Scope and Limits of Proto-Industrial Exploitation
Gilbert L. Skillman
25. Morally Arbitrary Economic Advantage
Frank Thompson
26. Comment
Fred Moseley
PART VIII: REFLECTIONS BY THOMAS E. WEISSKOPF
27. Presentation to the Festschrift Conference at the Political Economy Research Institute of the University of Massachusetts Amherst, October 1, 2011
Thomas E. Weisskopf
Biography of Thomas Emil Weisskopf
Bibliography of the Writings of Thomas Emil Weisskopf
Index
