KINGSTON, R.I. — March 2, 2018 — What were the precursors to the European financial crisis and subsequent weakening of the European Union? What are the contributions of business to economics, and what are economists and other theorists saying about Marxian economics today?<\/p>\n
Three 溏心vlog免费B站 economists provide answers in three books published last fall:<\/p>\n
McIntyre, a 溏心vlog免费B站 graduate, who earned his doctorate in economics at the University of Massachusetts, where he studied with Stephen Resnick and Richard Wolff of the Amherst School, said these new publications illustrate the wide range of prospective students will get when studying economics at 溏心vlog免费B站.<\/p>\n
\u201cWe are delighted to have faculty like Nina and Rob, who cross disciplinary lines, and who look beyond traditional economics,\u201d McIntyre said. \u201cThrough their research, they give students unique perspectives on how economics, politics, business, financial policy and banking and social issues are interconnected. Our students are learning how these factors influence each other across the globe.\u201d<\/p>\n
Eichacker, an economist who studies political economy issues, said her research focus is the intersection of political science and economics.<\/p>\n
\u201cI look at how governments implement policies and how those policies affect the economy,\u201d Eichacker said.<\/p>\n
In her book, Eichacker examines the precursors to the austerity measures put in place by several European countries, including Greece, Spain and Ireland. \u201cI look at what precipitated those steps, including the government takeovers of financial institutions. I found that European integration led to destabilization of the financial system.\u201d<\/p>\n
She also found that certain European countries have great power, and they were the ones that required countries in crisis to implement austerity measures to qualify for bailout money.<\/p>\n
\u201cThis went against International Monetary Fund policy,\u201d Eichacker said. \u201cWe know now that the austerity measures caused extensive damage, and sparked public health crises, unemployment and poverty and precipitated what we see now as an erosion of the strength of the Eurozone.\u201d<\/p>\n
Van Horn\u2019s book is a result of a conference he co-led at Duke University that brought together historians of economics, business historians, scientists and sociologists.<\/p>\n
\u201cWe brought together 12 people doing original work in different disciplines,\u201d Van Horn said. \u201cThis is a creative group of people that look outside of economics for inspiration.\u201d<\/p>\n
One of the perspectives found in the book is from William Deringer, assistant professor of science, technology, and society at the Massachusetts Institute of Technology:<\/p>\n
\u201cOne essential notion behind Trump\u2019s run for the presidency is the notion that he has some kind of critical knowledge about economic things that will be useful for running an entire nation. What is the long history of that idea–that a businessperson or businesspersons are the people best equipped to consider national economic policy. Or look at Trump\u2019s recent announcement of his crack economic policy advisers. No academics, basically all billionaire businesspeople.<\/p>\n
\u201cWhat makes this a valid collection of \u2018economic experts\u2019 in the eyes of Trump and his supporters? What makes it an invalid collection in the eyes of his detractors?\u201d<\/p>\n
The book edited by McIntyre, \u201cKnowledge, Class, and Economics,\u201d looks at how the Amherst school changed Marxian economics by rejecting economic determinism and focusing on Marx\u2019s class theory. It contains essays such as \u201cMigrant workers in Post-Reform China,\u201d \u201cBad Communisms,\u201d \u201cThe Work of Sex,\u201d \u201cRethinking Labor, Class and Justice\u201d and \u201cFamily Farms, Class and the Future of Food.\u201d<\/p>\n
McIntyre collaborated with colleague Michael Hillard, professor of economics at the University of Southern Maine, on the essay \u201cManagement Ideologies and the Class Structure of Capitalist Enterprises: Shareholders vs. Stakeholderism at Scott Paper Company.\u201d<\/p>\n
Hillard and McIntyre examined the case of the Warren Mill in Maine that was once owned by a family, but is now owned by Scott Paper.<\/p>\n
\u201cMarx was interested in the creation of profits through labor and the distribution of those profits to banks, merchants and corporations,\u201d McIntyre said. \u201cWhat is relatively new is the notion that the most important thing for a business to do is to maximize profits for stockholders.\u201d<\/p>\n
In the case of the paper mill, there was at one time a patriarchal-class relationship, McIntyre said.<\/p>\n
\u201cWhile the workers were critical to building surplus value, the owners would turn some of that surplus back to the community through the family\u2019s philanthropic efforts to enhance the public good. Thus came the notion of the mother mill. Workers were exploited, but at least the money stayed in the local economy.<\/p>\n
\u201cI don\u2019t want to romanticize the patriarchal system, but when the Warren Mill was bought, there was a shift from a focus on the community and enterprise to financial results.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
KINGSTON, R.I. — March 2, 2018 — What were the precursors to the European financial crisis and subsequent weakening of the European Union? What are the contributions of business to economics, and what are economists and other theorists saying about Marxian economics today? Three 溏心vlog免费B站 economists provide answers in three books published […]<\/p>\n","protected":false},"author":2,"featured_media":73705,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[88],"class_list":["post-73703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archives","tag-college-of-business"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts\/73703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/comments?post=73703"}],"version-history":[{"count":0,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts\/73703\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/media\/73705"}],"wp:attachment":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/media?parent=73703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/categories?post=73703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/tags?post=73703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}