The aim of this article is to explore to what extent the rule of economics commonly known as Gresham's law (“bad money drives out good money”) can be extrapolated to verbal language (“bad concepts drive out good concepts”). Consequently, the goal of this article is twofold. First, for Gresham's law to be applied simultaneously to money and language, its unfortunate (“good”/“bad”) and obscure (“drives out”) wording should be clarified. Second, one should identify the contexts in which the validity of the law could be assessed best, and run a very preliminary test. For this purpose, the circulation of the adjective (“hard”, “strong”, or “stable” in Russian) in the word combination (“hard currency”) in use in the Soviet Union in the 1920s and 1930s was scrutinized.
Do “Bad” Concepts Drive Out “Good” Ones?
Contested Rationalities of Time in the Theory and Practice of Work
At the beginning of the twenty-first century work has attained a new local and global quality. Localised and individualised efficiency deals are established where previously standards would have been set nationally and bargained for collectively. At the same time, work is negotiated in the context of a global labour market and global competition: the world, not nations, is the market where labour is traded and the fate of much future work sealed. Electronic communication, low transport costs and deregulated, unrestricted trade dissolved many of the boundaries that used to delimit the competition for work on the one hand, the negotiations over conditions on the other. Since the leading industrial nations have committed themselves to the General Agreement on Tariffs and Trade (GATT) and the rules set out by the World Trade Organisation (WTO), it is difficult for any nation to extricate itself from the logic of the competitive global market. ‘At a world level’, as Hans-Peter Martin and Harald Schumann (1997: 7) point out, ‘more than 40,000 transnational corporations of varying shapes and sizes play off their own employees (as well as different nation states) against one another.’ There are always workers somewhere else able and willing to do the job cheaper than North Americans or North/West Europeans.
Toward a New Legally Oriented Environment at a Global Level
Giovanni Tartaglia Polcini
A Retrospective Overview from the Italian Experience For a long time, Italy has suffered from organized crime and terrorism. This experience has put the fight against crime, drugs, money laundering, and terrorism very much in focus of Italian
Globalism makes news every day, yet world trade is hardly greater today than 30 years ago; it is the movement of capital that is far greater now, thanks to technology. The irresistible force for one world is not the United Nations, ever an arena for the contest of national interests, but money, particularly the United States dollar, which is an unofficial world currency, often with more influence than U.S. foreign policy. One of the results of monetary globalism is to make national reserve and international banks all the more important.
Sergio Rizzo and Gian Antonio Stella
In this chapter, the efforts of the Italian ruling class to cut the costs of politics during 2012 are analyzed. An informal division of labor was established between Monti's executive, which was to take care of budgetary problems, and the Parliament, which was supposed to tackle the frequent scandals of corruption and public money mismanagement. The results of the latter's efforts were amply (and predictably) disappointing, justifying once more the low levels of trust that citizens display toward politicians. In particular, we consider five points: the expenditure cuts by the constitutional bodies, the failure to reduce the number of MPs, the effort to cut back on the public funding of political parties, the “anarchy” of regional expenditures, and the inability to decide about the abolition of provincial government.
Kevin Hopkins and Christopher Roederer
In trying to come to grips with what is involved in righting the wrongs of apartheid, we begin by pointing out unique challenges posed by societies in transition. It is our position that the pursuit of justice is not the same in transitional contexts as it is in stable democracies. As we shall see, the transitional domain throws up several non-standard obstacles in the way of fulfilling the imperatives of justice. After this introduction to justice in transitions we will look more closely at the relationship between justice and law in the context of political transformation generally, and the specific relationship between justice and international human rights law in this transformative process. Thereafter we will address the pursuit of justice in respect of both apartheid’s perpetrators as well as its victims—the discussion will, however, be limited to the liability of those who fall outside the scope of the Truth and Reconciliation Commission’s (TRC) mandate. In that regard, we will deal with violations of rights not specifically covered by the TRC: odious apartheid debt owed to international legal entities; other debt incurred by the apartheid state to private money-lending institutions; the violation of international labour standards in the apartheid state; and the unjust enrichment of foreign corporations at the expense of black South Africans.
Henry A. Giroux
This article argues that democracy is on life support in the United States. Throughout the social order, the forces of predatory capitalism are on the march—dismantling the welfare state, corrupting politics with outside money, defunding higher education, expanding the corporate-surveillance-military state, widening inequalities in wealth and income, and waging a war on low income and poor minorities. As market mentalities and moralities tighten their grip on all aspects of society, democratic institutions and public spheres are being downsized, if not altogether disappearing. As these institutions vanish—from higher education to health care centers—there is also a serious erosion of the discourses of community, justice, equality, public values, and the common good. This article argues that given this current crisis, educators, artists, intellectuals, youth, and workers need a new political and pedagogical language centered around the notion of radical democracy in order to address the changing contexts and issues facing a world in which capital draws upon an unprecedented convergence of resources—financial, cultural, political, economic, scientific, military, and technological—to exercise powerful and diverse forms of control.
Keynes and Marx, Merchants, and Poets
mean by “liquidity”? How was this term adopted by their colleagues speaking German, French, or English? What does it mean to a twentieth-century economist? How did money come to flow? Attention to different periods and aims is a challenge but should
The Senior Citizen’s Grant in Uganda
Grace Bantebya Kyomuhendo
, which are regular small transfers of money to individuals or households that provide a minimum level of income security. Our research focused on the Senior Citizens’ Grant and the Vulnerable Families Support Grant (VFSG). However, because the VFSG did
A Causal-Teleological Version of the Logical Contradiction Interpretation
the false promising maxim fails the CC test, he states it as: ‘when I believe myself to be in need of money I shall borrow money, and promise to repay it, even though I know that it will never happen’ ( G 4: 422). Restating both maxims in the order of