Savage Exchange explores the politics of representation during the Han dynasty (206 BCE–220 CE) at a pivotal moment when China was asserting imperialist power on the Eurasian continent and expanding its local and long-distance (“Silk Road”) markets. Tamara T. Chin explains why rival political groups introduced new literary forms with which to represent these expanded markets. To promote a radically quantitative approach to the market, some thinkers developed innovative forms of fiction and genre. In opposition, traditionalists reasserted the authority of classical texts and advocated a return to the historical, ethics-centered, marriage-based, agricultural economy that these texts described. The discussion of frontiers and markets thus became part of a larger debate over the relationship between the world and the written word. These Han debates helped to shape the ways in which we now define and appreciate early Chinese literature and produced the foundational texts of Chinese economic thought. Each chapter in the book examines a key genre or symbolic practice (philosophy, fu-rhapsody, historiography, money, kinship) through which different groups sought to reshape the political economy. By juxtaposing well-known texts with recently excavated literary and visual materials, Chin elaborates a new literary and cultural approach to Chinese economic thought.

The media are in crisis. Confronted by growing competition and sagging advertising revenue, news operations in print, on radio and TV, and even online are struggling to reinvent themselves. Many have gone under. For too many others, the answer has been to lay off reporters, join conglomerates, and lean more heavily on generic content. The result: in a world awash with information, news organizations provide citizens with less and less in-depth reporting and a narrowing range of viewpoints. If democracy requires an informed citizenry, this trend spells trouble.

Julia Cagé explains the economics and history of the media crisis in Europe and America, and she presents a bold solution. The answer, she says, is a new business model: a nonprofit media organization, midway between a foundation and a joint stock company. Cagé shows how this model would enable the media to operate independent of outside shareholders, advertisers, and government, relying instead on readers, employees, and innovative methods of financing, including crowdfunding.

Cagé’s prototype is designed to offer new ways to share and transmit power. It meets the challenges of the digital revolution and the realities of the twenty-first century, inspired by a central idea: that news, like education, is a public good. Saving the Media will be a key document in a debate whose stakes are nothing less crucial than the vitality of democracy.

A sweeping intellectual history of the concept of economic scarcity—its development across five hundred years of European thought and its decisive role in fostering the climate crisis.

Modern economics presumes a particular view of scarcity, in which human beings are innately possessed of infinite desires and society must therefore facilitate endless growth and consumption irrespective of nature’s limits. Yet as Fredrik Albritton Jonsson and Carl Wennerlind show, this vision of scarcity is historically novel and was not inevitable even in the age of capitalism. Rather, it reflects the costly triumph of infinite-growth ideologies across centuries of European economic thought—at the expense of traditions that sought to live within nature’s constraints.

The dominant conception of scarcity today holds that, rather than master our desires, humans must master nature to meet those desires. Albritton Jonsson and Wennerlind argue that this idea was developed by thinkers such as Francis Bacon, Samuel Hartlib, Alfred Marshall, and Paul Samuelson, who laid the groundwork for today’s hegemonic politics of growth. Yet proponents of infinite growth have long faced resistance from agrarian radicals, romantic poets, revolutionary socialists, ecofeminists, and others. These critics—including the likes of Gerrard Winstanley, Dorothy Wordsworth, Karl Marx, and Hannah Arendt—embraced conceptions of scarcity in which our desires, rather than nature, must be mastered to achieve the social good. In so doing, they dramatically reenvisioned how humans might interact with both nature and the economy.

Following these conflicts into the twenty-first century, Albritton Jonsson and Wennerlind insist that we need new, sustainable models of economic thinking to address the climate crisis. Scarcity is not only a critique of infinite growth, but also a timely invitation to imagine alternative ways of flourishing on Earth.

The economic crisis of 2008–2009 signaled the end of the Post-Washington Consensus on restricting the role of the state in economic and development policy. Since then, state ownership and state intervention have increased worldwide. This volume offers a comparative analysis of the evolution of direct state intervention in the economy through state-owned companies in Austria, Brazil, France, Germany, Hungary, Poland, Turkey, Singapore, and Slovenia. Each case study includes substantial explanations of historical, cultural, and institutional contexts. All the contributors point to the complex nature of the current revival in state economic interventions. The few models that are successful cannot hide the potential problems of excessive state intervention, linked to high levels of moral hazard. State-owned enterprises are primary tools of market and price manipulation for political purposes. They can be used outright for rent seeking. Yet state-owned enterprises can also play important roles in prestigious national initiatives, like major public works or high-profile social and sports events. The authors conclude that after the uniform application of democratic market economic principles, the 2000s witnessed a path-dependent departure from standard economic and political operating procedures in developed countries.

A revelatory look at the ways that gender, power, and the media are intertwined.

It all comes down to sex and money: how the media are organized, how they work, what they say, who gets to say it and to whom. That is the message this book delivers—and then parses for its meaning to society and culture. Forcefully and persuasively, this groundbreaking volume uses the media to show how questions of gender and economics are inextricably linked to issues of power in Western capitalist societies. Integrating political economy and feminism, it offers a new understanding of communication at the personal, experiential, institutional, and structural levels-and exposes all the subtle and complex ways in which sex and money are sutured into individuals’ daily lives.

Contributors: Robin Andersen, Fordham U; Ellen Balka, Simon Fraser U; Amy Beer; Carolyn M. Byerly, Ithaca College; Ramona Curry, U of Illinois; Fred Fejes, Florida Atlantic U; Nancy Hauserman, U of Iowa; Michèle Martin, Carleton U, Canada; Stana Martin, Central Missouri State U; Lisa McLaughlin, Miami U, Ohio; Roopali Mukherjee, Indiana U; Angela R. Record; Karen Ross, Coventry U; H. Leslie Steeves, U of Oregon; Angharad N. Valdivia, U of Illinois; Janet Wasko, U of Oregon; and Justin Wyatt.

Analyzing a Chinese city’s dazzling rise to global megacity status

Until around 1990, Shanghai was China’s premier but sluggish industrial center. Now at the beginning of the twenty-first century, the joint impact of global forces and state power has turned Shanghai into a dynamic megacity. Shanghai’s remarkable growth in economy, infrastructure, and global presence has prompted questions about the Shanghai “miracle.” This collection places the city’s unprecedented rise in a rare comparative examination of U.S. cities, as well as with Asian megacities Singapore and Hong Kong, providing a nuanced account of how Shanghai’s politics, economy, society, and space have been transformed by macro- and micro-level forces.

Contributors: Stephen W. K. Chiu, Chinese U of Hong Kong; K. C. Ho, National U of Singapore; John D. Kasarda, U of North Carolina; Hanlong Lu, Shanghai Academy of Social Sciences; Tai-lok Lui, Chinese U of Hong Kong; Ann R. Markusen, U of Minnesota; Anthony M. Orum, U of Illinois, Chicago; Yuan Ren, Fudan U Shanghai; Saskia Sassen, Columbia U; Jiaming Sun, Texas A&M U, Commerce; Fulong Wu, Cardiff U; Pingkang Yu, George Washington U; Tingwei Zhang, U of Illinois, Chicago; Zhenhua Zhou, Development Research Center, Shanghai Municipal Government.

This book is not a study of anti-corruption policies. Instead, it looks at the politics of anti-corruption. Policies are what institutions do. But in analyzing politics, this book seeks to discover why institutions do what they do. The author delves into political motivations at a time when "combating corruption" is the fashion among the academic community. Krastev argues that anti-corruption sentiments are not driven by the actual level of corruption but by general disappointment with liberal reforms that cause rising social inequality. In this collection of essays, the author makes the provocative argument that the current corruption-focused policies are doomed.

At the heart of Singapore’s political economy is the PAP government, which controls the levers of control. The accumulation of power occurs through a recurring pattern of state collectivisation and economic liberalisation, while the nation’s wealth expands through state investment vehicles adapting to shifts in geopolitics and trends in international trade and finance. Overshadowing the bicameral capitalistic system is the corridor of power, where ideas are developed to drive growth and prosperity in order to maintain an iron grip on the populace. As bureaucrats and ministers coordinate to rebalance economic reforms with state control by binding state collectivisation and financialisation, citizens are caught in the paradox of economic liberalisation and authoritarianism. This book examines how Singaporean leaders embrace change—by meticulously balancing control and freedom, prosperity and dominance—to stay in power.

The authors of this treatise attempt to provide a deeper understanding of the economic and political transformations now taking place in Poland, Hungary and the Czech Republic. They build up a detailed picture of the privatization process in the retail trade, catering and more general services. Not only are these sectors strongly relevant to consumers in these countries, but they also offer attractive possibilities for property ownership on a mass scale, as well as for the fostering of the small enterprises and entrepreneurial spirit that will be so important in the future.

Money occupies a powerful place in our lives – it is a problem, a goal, and motivator, a measure of self-worth and national progress, and even an influence on how we relate to each other and to nature – but what happens when communities start to reinvent money and markets? Over the last twenty-five years, grassroots activists in Medellín, Colombia, have used barter markets and community currencies as one strategy to re-weave a social fabric shredded by violence and to establish an economy founded on respect and reciprocity rather than exploitation. In Social Exchange, Brian J. Burke provides a deep ethnographic investigation of this activism and its effects. This story draws us into the cultural and material effects of capitalism and narco-violence, while also helping us understand what new radical imaginations look like and how people bring them to life. The result is an intimate glimpse of urban life in Latin America, as well as a broader analysis of non-capitalist or post-capitalist possibility.

Next Generation e-book nonfiction 2023 Indie Book Award Prize.

While social network analyses often demonstrate the usefulness of social media networks to affective publics and otherwise marginalized social justice groups, this book explores the domination and manipulation of social networks by more powerful political groups. Jeffrey Layne Blevins and James Lee look at the ways in which social media conversations about race turn politically charged, and in many cases, ugly. Studies show that social media is an important venue for news and political information, while focusing national attention on racially involved issues. Perhaps less understood, however, is the effective quality of this discourse, and its connection to popular politics, especially when Twitter trolls and social media mobs go on the attack.

Taking on prominent case studies from the past few years, including the Ferguson protests and the Black Lives Matter movement, the 2016 presidential election, and the rise of fake news, this volume presents data visualization sets alongside careful scholarly analysis. The resulting volume provides new insight into social media, legacy news, and social justice.

This volume gathers together essays on the theme of economic transition in Central and Eastern Europe, written by the former Polish Minister of Finance.  In it, the author summarizes the research on institutions, institutional change and human behaviour that he has undertaken since the late 1970s.  He addresses such issues as the socialist market economy, reformability of the Soviet-type economic system, democratization and market-orientated reform in Central and Eastern Europe, and the Polish model of economic reform.

“A fascinating insight into the evolution of China’s financial policy and its strategic investments using leveraged foreign exchange reserves.” —Diane Coyle, Enlightened Economist 

“[Liu] shows that Chinese sovereign funds are so different from better-known sovereign wealth funds, such as those of the governments of Abu Dhabi and Norway, that she prefers to call them ‘sovereign leveraged funds’...These various exotic workarounds, which Liu skillfully traces, produce ‘shadow reserves.’” —Andrew J. Nathan, Foreign Affairs  

“Follow the money, find the politics...Liu shows how China pioneered a whole new class of sovereign wealth funds.” —Times of India 

One of the keys to China’s global rise has been its strategy of deploying sovereign wealth on behalf of state power. Since President Xi Jinping took office in 2013, China has doubled down on financial statecraft, making shrewd investments with the money it has made by leveraging its foreign exchange reserves. Sovereign Funds tells the story of how the Communist Party of China (CPC) became a global financier of surpassing ambition. 

Zongyuan Zoe Liu offers a comprehensive and up-to-date analysis of the evolution of China’s sovereign funds, including the China Investment Corporation, the State Administration of Foreign Exchange, and Central Huijin Investment, showing how these institutions have become mechanisms not only for transforming low-reward foreign exchange reserves into investment capital but also for power projection. Sovereign funds are essential drivers of the national interest, shaping global markets, advancing the historic Belt and Road Initiative, and funneling state assets into strategic industries such as semiconductors, fintech, and artificial intelligence. Liu uncovers how the CPC is a leader in both foreign exchange reserves investment and economic statecraft, using state capital to encourage domestic economic activity and create spheres of influence worldwide.

What did it mean to run a large, commercialized agrarian polity according to the best Confucian principles?

This book is intended as a contribution to both intellectual and political history. It is partly a study of how Confucian-trained officials thought about the grain trade and the state's role in it, particularly the "ever-normal granaries," the stockpiles of grain maintained by every county government as protection against shortages and high prices. The author investigates the scope and limits of belief in market forces among those critical of government intervention, establishing that rudimentary economic arguments for state withdrawal from the grain trade were available by 1750. She then explores challenges, from within the ruling apparatus, to the state's claim that its own stockpiling served the public interest, as well as the factors behind decisions in the mid- and late 1740s to suspend or decrease state purchases of grain.

As a study of Confucian government in action, this book describes a mode of public policy discussion far less dominated by the Confucian scriptures than one might expect. As a contribution to intellectual history, the work offers a detailed view of members of an ostensibly Confucian government pursuing divergent agendas around the question of "state or merchant?"

Stories that Bind: Political Economy and Culture in New India examines the assertion of authoritarian nationalism and neoliberalism; both backed by the authority of the state and argues that contemporary India should be understood as the intersection of the two. More importantly, the book reveals, through its focus on India and its complex media landscape that this intersection has a narrative form, which author, Madhavi Murty labels spectacular realism. The book shows that the intersection of neoliberalism with authoritarian nationalism is strengthened by the circulation of stories about “emergence,” “renewal,” “development,” and “mobility” of the nation and its people. It studies stories told through film, journalism, and popular non-fiction along with the stories narrated by political and corporate leaders to argue that Hindu nationalism and neoliberalism are conjoined in popular culture and that consent for this political economic project is crucially won in the domain of popular culture.

Moving between mediascapes to create an archive of popular culture, Murty advances our understanding of political economy through material that is often seen as inconsequential, namely the popular cultural story. These stories stoke our desires (e.g. for wealth), scaffold our instincts (e.g. for a strong leadership) and shape our values.
 

Many consumers feel powerless in the face of big industry’s interests. And the dominant view of economic regulators (influenced by Mancur Olson’s book The Logic of Collective Action, published in 1965) agrees with them. According to this view, diffuse interests like those of consumers are too difficult to organize and too weak to influence public policy, which is determined by the concentrated interests of industrial-strength players. Gunnar Trumbull makes the case that this view represents a misreading of both the historical record and the core logic of interest representation. Weak interests, he reveals, quite often emerge the victors in policy battles.

Based on a cross-national set of empirical case studies focused on the consumer, retail, credit, pharmaceutical, and agricultural sectors, Strength in Numbers develops an alternative model of interest representation. The central challenge in influencing public policy, Trumbull argues, is not organization but legitimation. How do diffuse consumer groups convince legislators that their aims are more legitimate than industry’s? By forging unlikely alliances among the main actors in the process: activists, industry, and regulators. Trumbull explains how these “legitimacy coalitions” form around narratives that tie their agenda to a broader public interest, such as expanded access to goods or protection against harm. Successful legitimizing tactics explain why industry has been less powerful than is commonly thought in shaping agricultural policy in Europe and pharmaceutical policy in the United States. In both instances, weak interests carried the day.

Examining detailed case studies of the International Court of Justice and the transition from the General Agreement on Tariffs and Trade to the World Trade Organization, Leslie Johns finds that a court’s design has nuanced and mixed effects on international cooperation. A strong court is ideal when laws are precise and the court is nested within a political structure like the European Union. Strong courts encourage litigation but make states more likely to comply with agreements when compliance is easy and withdraw from agreements when it is difficult. A weak court is optimal when law is imprecise and states can easily exit agreements with minimal political or economic repercussions. Johns concludes the book with recommendations for promoting cooperation by creating more precise international laws and increasing both delegation and obligation to international courts. 

'A major analysis of our world's political crisis' - Joel Wainwright

The collapse of neoliberal hegemony in the western world following the financial crash of 2007-8 and subsequent rise of right-wing authoritarian personalities has been described as a crisis of 'the political' in western societies. But the crisis must be seen as global, rather than focusing on the west alone.

Pakistan is experiencing rapid financialization and rapacious capture of natural resources, overseen by the country's military establishment and state bureaucracy. Under their watch, trading and manufacturing interests, property developers and a plethora of mafias have monopolized the provision of basic needs like housing, water and food, whilst also feeding conspicuous consumption by a captive middle-class.

Aasim Sajjad-Akhtar explores neoliberal Pakistan, looking at digital technology in enhancing mass surveillance, commodification and atomization, as well as resistance to the state and capital. Presenting a new interpretation of our global political-economic moment, he argues for an emancipatory political horizon embodied by the 'classless' subject.

The editor of this book has brought together contributions designed to capture the essence of post-communist politics in East-Central Europe and Eurasia. Rather than on the surface structures of nominal democracies, the nineteen essays focus on the informal, often intentionally hidden, disguised and illicit understandings and arrangements that penetrate formal institutions. These phenomena often escape even the best-trained outside observers, familiar with the concepts of established democracies. Contributors to this book share the view that understanding post-communist politics is best served by a framework that builds from the ground up, proceeding from a fundamental social context. The book aims at facilitating a lexical convergence; in the absence of a robust vocabulary for describing and discussing these often highly complex informal phenomena, the authors wish to advance a new terminology of post-communist regimes. Instead of a finite dictionary, a kind of conceptual cornucopia is offered. The resulting variety reflects a larger harmony of purpose that can significantly expand the understanding the “real politics” of post-communist regimes. Countries analyzed from a variety of aspects, comparatively or as single case studies, include Azerbaijan, Belarus, Georgia, Hungary, Kyrgyzstan, Moldova, Poland, Romania, Russia, and Ukraine.

Much of the innovative programming that powers the Internet, creates operating systems, and produces software is the result of “open source” code, that is, code that is freely distributed—as opposed to being kept secret—by those who write it. Leaving source code open has generated some of the most sophisticated developments in computer technology, including, most notably, Linux and Apache, which pose a significant challenge to Microsoft in the marketplace. As Steven Weber discusses, open source’s success in a highly competitive industry has subverted many assumptions about how businesses are run, and how intellectual products are created and protected.

Traditionally, intellectual property law has allowed companies to control knowledge and has guarded the rights of the innovator, at the expense of industry-wide cooperation. In turn, engineers of new software code are richly rewarded; but, as Weber shows, in spite of the conventional wisdom that innovation is driven by the promise of individual and corporate wealth, ensuring the free distribution of code among computer programmers can empower a more effective process for building intellectual products. In the case of Open Source, independent programmers—sometimes hundreds or thousands of them—make unpaid contributions to software that develops organically, through trial and error.

Weber argues that the success of open source is not a freakish exception to economic principles. The open source community is guided by standards, rules, decisionmaking procedures, and sanctioning mechanisms. Weber explains the political and economic dynamics of this mysterious but important market development.

Leading social scientists, empirical analysts, and policy practitioners demonstrate the various ways in which the insights of János Kornai, a renowned early analyst and critic of the command economies of Eastern European communist states, are stirring academic and policy discussions about current challenges. While dissecting the economic theories and practices in the Soviet Bloc, Kornai devised and applied concepts such as soft-budget constraints, rush versus harmonic growth, surplus versus shortage economy, non-Walrasian equilibrium, bureaucratic coordination, and the invisible power of the communist party. These concepts are commonly applied to a variety of issues in the contexts of fundamental transformation. The cases discussed in this volume include the transitional paths of post-communist economies, the pitfalls of East European market-building, economic repercussions of the dissolution of Yugoslavia, and the process of integration in the Eurozone.

In conclusion János Kornai’s thoughts on a variety of research topics as well as the value of democracy are included as he delivered at the conference celebrating his 90th birthday in 2018.