A collage of images, featuring most prominently a person holding a sign reading "no justice no peace"

Category: Economics

Academia / Economics / Governance / International

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Announcement – New Issue of Global Justice: Theory Practice Rhetoric

The editors of Global Justice: Theory Practice Rhetoric are pleased to announce the publication of the second re-launch issue of the journal: volume 9, issue 1.

The issue is devoted to the topic of “Global Justice and Non-Domination” and features the following original articles:

The whole issue, with all articles and reviews, can be freely accessed at Volume 9, Issue 1.

For more information about the journal, please see the journal homepage.

Academia / Distribution / Economics / Gender / Governance / International

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Reminder – Call for Papers: Labour Market Injustice Workshop

Newcastle University & Durham University, 14-15 December 2016

Labour market injustice is a pressing problem both domestically and globally. None the less, there continues to be considerable disagreement about how to understand and locate the moral concerns involved. Many commentators understand labour market injustice in interactional terms, viewing it as a problem with the wage or contract terms employers offer their workers. But, there is also an emerging trend towards thinking about it in more structural terms. One such thread involves conceptualising labour market injustices as systemic problems, such as understanding exploitation or discrimination as group-to-group phenomena. Another thread involves articulating proposals to prevent labour market injustices through institutional and policy level responses.

This workshop will operate as a detailed discussion of a set of works-in-progress that consider these emerging angles on (domestic and global) labour market injustice. We invite submissions grounded in any area of political theory, including both applied work and more theoretical or methodological contributions, and also papers that consider the intersection with importantly related disciplines, such as law and economics. Topics may include, but are not limited to, areas such as:

  • Labour rights
  • Discrimination
  • Work-life balance
  • Business organisation
  • Supply chains
  • Brain-drain
  • Exploitation

Confirmed participants

  • Anca Gheaus (University Pompeu Fabra, Barcelona)
  • Martin O’Neill (University of York)

Workshop Organisers

  • Elizabeth Kahn (Durham University)
  • Tom Parr (University of Essex)
  • Andrew Walton (Newcastle University)

Submissions

Abstracts of up to 500 words, accompanied by contact details and institutional affiliation, should be sent to andrew.walton@ncl.ac.uk by 30th September 2016.  We will notify accepted papers by 14th October.

For further information, please contact andrew.walton@ncl.ac.uk, tparr@essex.ac.uk, or elizabeth.kahn@durham.ac.uk

Democracy / Economics / International

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How free is free trade? On CETA, TTIP, and other false promises

Regina Kreide is Professor of Political Theory and History of Ideas at the Institute of Political Science, Justus Liebig University, Giessen. This guest post is Part 3 of a special series on TTIP that we’re running this summer.

Lines of social conflict are no longer configured in terms of “more state” or “less state”. Opinions differ as to how open or closed our societies ought to be. The same holds not just for matters of immigration, but also for economic and financial-political developments. But does opening economic borders lead to greater “plenty” for all? What, for that matter, does “open” mean in this context? Counter to commonplace views of free-trade agreements, a closer look makes one thing clear, above all: economic “globalization” does not create prosperity for the many. More still, the term is in no way synonymous with an open society or open economic borders. The contrary is true. The example of water supply shows that free trade agreements such as the CETA and the TTIP lead to economic foreclosure and to the bypassing of existing international law. It is “open” – like a one-way street – only for massive incroachments on our societal order.

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Democracy / Distribution / Economics / International

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TTIP – What we’ve learned in the debate

This post is Part 2 of the special series on TTIP that we’ll be running in the coming weeks.

12/07/2014 - Protestors against the EU-US trade deal (TTIP - Transatlantic Trade and Investment Partnership) march from the Department for Business, Innovation and Skills to Europe House, the London Headquarters of the European Commission and the European Parliament, in Smith Square, London.

Anti-TTIP protesters in London, 2014. Wikimedia Commons.

TTIP is a complicated issue – but the fact that there is so much public debate about it shows that we have, after all, learned something from the Great Financial Crisis, or so I will argue. Before this crisis, many debates about economic policy took the form of “more market, please” (usually coming from the right) versus “more state, please” (usually coming from the left). But this way of carving up the terrain overlooks the essential preconditions of markets that are themselves political. In addition to questions about “more market” versus “more state”, we need to ask questions about who sets the rules of the economic game.

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Democracy / Economics / International

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TTIP and Human Rights: The Need to Fight Harmful Tax Practices

Matthias Goldmann is Junior Professor of International Public Law and Financial Law at the Goethe University in Frankfurt. This guest post is Part 1 of a special series on TTIP that we’ll be running in the coming weeks.

Anti-TTIP protesters in London, 2014. Wikimedia Commons.

Anti-TTIP protesters in London, 2014. Wikimedia Commons.

The ongoing debate about the Transatlantic Trade and Investment Partnership (TTIP) has shed new light on the effects of trade on economic and social equality. While it is well understood in theory that free trade is likely to generate aggregate welfare benefits, in practice the allocation of these benefits seems to be highly unequal. In developed economies, free trade might lead to the outsourcing of jobs of low-skilled workers to places with lower labor costs. In developing economies, trade might generate low-skilled jobs, but with international competition preventing wages from rising. Entrepreneurs and trading companies rather than workers seem to collect a large share of the benefits of international trade. As I will argue, this threatens the economic, social and cultural rights (ESC rights) of low-skilled workers. Free trade agreements (FTAs) are therefore only acceptable to the extent that participating governments take measures to mitigate their impact on low-skilled workers. To generate revenue for such measures, states should devise strategies to combat international tax evasion and tax competition.

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Academia / Distribution / Economics / Gender / Governance / International

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Call for Papers: Labour Market Injustice Workshop

Newcastle University & Durham University, 14-15 December 2016

Labour market injustice is a pressing problem both domestically and globally. None the less, there continues to be considerable disagreement about how to understand and locate the moral concerns involved. Many commentators understand labour market injustice in interactional terms, viewing it as a problem with the wage or contract terms employers offer their workers. But, there is also an emerging trend towards thinking about it in more structural terms. One such thread involves conceptualising labour market injustices as systemic problems, such as understanding exploitation or discrimination as group-to-group phenomena. Another thread involves articulating proposals to prevent labour market injustices through institutional and policy level responses.

This workshop will operate as a detailed discussion of a set of works-in-progress that consider these emerging angles on (domestic and global) labour market injustice. We invite submissions grounded in any area of political theory, including both applied work and more theoretical or methodological contributions, and also papers that consider the intersection with importantly related disciplines, such as law and economics. Topics may include, but are not limited to, areas such as:

  • Labour rights
  • Discrimination
  • Work-life balance
  • Business organisation
  • Supply chains
  • Brain-drain
  • Exploitation

Confirmed participants

  • Anca Gheaus (University Pompeu Fabra, Barcelona)
  • Martin O’Neill (University of York)

Workshop Organisers

  • Elizabeth Kahn (Durham University)
  • Tom Parr (University of Essex)
  • Andrew Walton (Newcastle University)

Submissions

Abstracts of up to 500 words, accompanied by contact details and institutional affiliation, should be sent to andrew.walton@ncl.ac.uk by 30th September 2016.  We will notify accepted papers by 14th October.

For further information, please contact andrew.walton@ncl.ac.uk, tparr@essex.ac.uk, or elizabeth.kahn@durham.ac.uk

Economics / Governance / International

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Interview: Peter Dietsch on Catching Capital

Taxation is amongst the most hotly debated and politically contentious issues of the twenty-first century.  It has long been an important component of state policy for funding public services and managing inequalities.  Recently, it has increasingly been under the spotlight in virtue of international concerns – worries about multi-national companies shifting profits to low-tax jurisdictions and wealthy indDietschividuals exploiting tax loopholes, often to the effect of reducing state tax revenues.  Such realities raise important questions about the ethics of taxation in a globalised era and have been the focus of much work by Université de Montreal philosopher Peter Dietsch across his work in The Journal of Political Philosophy, Review of International Studies, Moral Philosophy and Politics, Ethical Perspectives, and the volume Global Tax Governance – What is Wrong With It and How to Fix It (co-edited with Thomas Rixen). In 2015, Peter published a book – Catching Capital: The Ethics of Tax Competition – on these issues and, when the opportunity presented itself, we took the chance to interview Peter about this work and heard some of his interesting reflections on the subject:

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Distribution / Economics / Gender

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Would an unconditional basic income be just?

On June 5th, Switzerland will be the first country to vote on an unconditional basic income (UBI). UBI is “an income unconditionally granted to all on an individual basis, without means test or work requirement”. Although not new, the idea is revolutionary in that it decouples income from work, and it conflicts with many people’s intuitions about justice. It cannot be fair if someone who chooses not to work because she wants to read novels all day is entitled to the same basic income as a person who cannot work due to disability, right? At the same time, the idea has been defended not only on economic and pragmatic grounds, but also for reasons of justice. I will assess the idea from the perspective of justice and conclude that justice recommends giving it a try.

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Distribution / Economics / Liberty / Rights

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On what we should get out of work (other than money!)

bruegel_peasants

Remember what good things you hoped awaited you within a future job when you were very young and still preparing for one. And have you ever been unemployed long-term, worried that you’d not find work in the near future? In this case, remember why it was distressing (if it was). Here I’ll talk about the things we can, and should, get out of work – and argue that these goods are so important that we ought to reorganise employment. (more…)

Democracy / Economics / Governance

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Are financial markets – markets?

Philippine-stock-market-board

(source: wikimedia)

What a weird question, you may think. But consider:

  • In textbook markets, what is traded are products that are supposedly useful to customers. What is traded in many financial markets are highly artificial contractual arrangements that are several layers away from what happens in the real economy.
  • In textbook markets, participants are liable to go bankrupt if they overspend. In financial markets, some market participants know that they are too big to fail, creating problems of “moral hazard.”
  • In textbook markets, participants are expected to inform themselves about the products they trade. At least in some financial markets, what matters are not the “fundamentals” (e.g. the economic success of a company the shares of which are traded), but what other participants do. Many participants try to make profits by outrunning market movements or “sentiments”; this can lead to large swings, in disconnect from fundamentals (more…)