Description:
This paper aims to identify within capitalism the “political aspects” that enhance, but also can undermine, the positive transformational power of innovation policies. As such, this paper follows the approach of Micha
Description:
This paper aims to identify within capitalism the “political aspects” that enhance, but also can undermine, the positive transformational power of innovation policies. As such, this paper follows the approach of Micha
Description:
A political economy approach to the transition process required the incorporation not only of the economic structure but also of the political and ideological structures. Consequently, an application of a political economy methodology to the transition process gives rise to alternative models of transition. Each model confronts the elements of the transition process - economic analysis; what is a good society? speed; political structure; ideological structure and whether the initial conditions were a concern - with different solutions, making it meaningful to distinguish between alternative models.
Description:
It has been 25 years since Lord John Vaizey, the English economist and educationist passed away in July 1984. Today, Vaizey is almost a forgotten figure in modern British history and even more in the fields of political economy and economics of education where he first made his mark. His work is now rarely cited and, even in political histories of the Thatcher decade, or the travails of the Labour governments before then, his name rarely reappears. This paper reassesses his life, especially the last decade of his life when Vaizey, basked in the limelight, and enjoyed some of the glittering prizes. It was a decade when Vaizey took some major ideological turns, one of the most controversial being his decision to leave the Labour party after 30 years of membership. The paper revisits the reasons why Vaizey renounced democratic socialism, Keynesianism and, along with that, the beguiling promises of social science. It reflected his peculiar interest in political failure along with disillusionment in democratic socialism. The switch meant that this Cambridge-trained economist who described himself once as ‘a deeply flawed puritan, dedicated to work, self improvement, the cultivation of the intellect, goodness and truth’ had to convert, albeit reluctantly, to monetarism and ditch the post-war Keynesian consensus.
Description:
It has been 25 years since Lord John Vaizey, the English economist and educationist passed away in July 1984. Today, Vaizey is almost a forgotten figure in modern British history and even more in the fields of political economy and economics of education where he first made his mark. His work is now rarely cited and, even in political histories of the Thatcher decade, or the travails of the Labour governments before then, his name rarely reappears. This paper reassesses his life, especially the last decade of his life when Vaizey, basked in the limelight, and enjoyed some of the glittering prizes. It was a decade when Vaizey took some major ideological turns, one of the most controversial being his decision to leave the Labour party after 30 years of membership. The paper revisits the reasons why Vaizey renounced democratic socialism, Keynesianism and, along with that, the beguiling promises of social science. It reflected his peculiar interest in political failure along with disillusionment in democratic socialism. The switch meant that this Cambridge-trained economist who described himself once as ‘a deeply flawed puritan, dedicated to work, self improvement, the cultivation of the intellect, goodness and truth’ had to convert, albeit reluctantly, to monetarism and ditch the post-war Keynesian consensus.
Description:
Since achieving Independence in 1957, Malaysia has experienced three recessions, each of which emanated from different sources of vulnerability. This paper analyses the policy response to economic crisis in particular, the role of the New Economic Policy (NEP) which was introduced in 1970 and which remains in force today. It concludes that in spite of the diversity in the proximate causes of the crises, the policy response was consistent and sought to ensure that NEP objectives were paramount and the vested interest that had emerged as a result of the NEP and which were linked to the ruling party were preserved.
Description:
Since achieving Independence in 1957, Malaysia has experienced three recessions, each of which emanated from different sources of vulnerability. This paper analyses the policy response to economic crisis in particular, the role of the New Economic Policy (NEP) which was introduced in 1970 and which remains in force today. It concludes that in spite of the diversity in the proximate causes of the crises, the policy response was consistent and sought to ensure that NEP objectives were paramount and the vested interest that had emerged as a result of the NEP and which were linked to the ruling party were preserved.