On the Prospects of a Return to Keynes: Taking Keynes’s Political Philosophy Seriously

Dunn, Bill

doi:10.1080/13600826.2018.1434488

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“…Yet it also takes the form of national violations of neoliberal global governance codes -for instance, European states' breaking of EU budget rules so as to appease domestic constituencies (Kalan et al, 2018). However, this by no means suggests that Keynesianism is sympathetic to mass politics (Dunn, 2018). Rather, it shares with neo/ordoliberalism a desire for depoliticised economic governance, with the levers of demand management operated by 'an insulated and bureaucratic élite' (Bulpitt, 1986, p.27).…”

Section: The Politics Of Governing Alienationmentioning

confidence: 99%

Beyond the Mutual Constitution of States and Markets: On the Governance of Alienation

Copley

Moraitis

2020

New Political Economy

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International Political Economy (IPE) textbooks tend to present the concept of a clear state-market dichotomy as the disciplinary mainstream. Yet we argue that a critical consensus has emerged around the mutual constitution of states and markets.Underpinning this is the Polanyian thesis that economic activities are always politically embedded. However, we claim that this notion of state-market mutual constitution is inadequate to grasp the peculiarities of the capitalist political economy. While capitalist market relations are underpinned by states, they take on an autonomous, dominating logic that limits states' agency. Concretely, by reproducing international monetary relations, states accidentally contribute to the establishment of world labour productivity averages that force them to boost national competitiveness in order to keep pace with world market standards. In place of the notion of mutual constitution, then, we offer Marx's concept of alienation as a theory of a form of social relations that have escaped the control of the institutions that produce them. The challenge of state governancereflected in the canon of liberal thoughtis to reconcile the impersonal imperatives of world market relations with the creation of a legitimate national political project, which we term the politics of governing alienation.

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Section: The Politics Of Governing Alienationmentioning

confidence: 99%