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Understanding development in a Global Value Chain World: Comparative Advantage or Monopoly Capital Theory?

April 22, 2021April 23, 2021 benjaminselwynLeave a comment

The recent period of globalisation 鈥� following the collapse of the Eastern bloc and the integration of China into the world economy 鈥� is in essence the period of global value chains (GVCs). From low to high-tech, basic consumer goods to heavy capital equipment, food to services, goods are now produced across many countries, integrated through GVCs.

The big question in development studies is whether this globalised reconfiguration of production is contributing to, or detracting from, real human development? Is it establishing a more equal, less exploitative, less poverty-ridden world? To understand these complex dynamics, scholars rely on economic theories. These theories must be relevant to the GVC-world and equipped to tackle these pertinent questions.

In 2020 the World Bank published its World Development Report (WDR2020, or 鈥榯he Report鈥�) to address these questions. It confidently proclaimed that 鈥楪VCs boost incomes, create better jobs and reduce poverty鈥� (: 3). Given the World Bank鈥檚 promotion of neoliberal globalisation, this conclusion is unsurprising.

However, before accepting the Report鈥檚 claims at face value, we should reflect on the findings of Robert Wade (: 220). These annual World Bank reports serve as “both a research-based document and a political document鈥�. the Bank鈥檚 flagship message must reflect back the ideological preference of key constituencies and not offend them too much, but the message must also be backed by empirical evidence and made to look technical”.

When globalisation is booming it may be possible for the report鈥檚 liberal bias to appear to complement its data. However, the GVC world has generated such inequalities that the dissonance between the report鈥檚 liberal bias and its own data is stretched to breaking point.

Drawing on our , this blog post uses the Report鈥檚 own data to undermine its core claims. It shows that the GVC world enhances the dominance of transnational corporations (TNCs), concentrates wealth, represses the incomes of supplier firms in developing countries, and creates many bad jobs 鈥� with deleterious outcomes for workers.

Hidden Abodes in Plain Sight: What the COVID-19 Pandemic has revealed and why we need to put Social Reproduction at the centre of a more just post-Covid world

March 23, 2021March 25, 2021 sarastevanoLeave a comment

By Sara Stevano, Alessandra Mezzadri, Lorena Lombardozzi and

After over a year of suffering, death and profound transformations of everyday life, it is time to take stock of the COVID-19 crisis so far and craft visions for a future centred on the value of social reproduction. In recently published in the , a social reproduction lens is used to analyse the COVID-19 crisis.

What is social reproduction? Social reproduction is 鈥榯he fleshy, messy, and indeterminate stuff of everyday life鈥� as well as 鈥榓 set of structured practices鈥�, as vividly put by , that are needed for the reproduction of both life and capitalist relations. In other words, it encompasses all the work, unpaid and paid, and the socio-cultural practices, institutions and sectors that are essential for the regeneration of our lives and society. As such, it speaks about the organisation of work both within and outside households. This is a key vantage point, we argue, to explore the impact of the COVID-19 crisis.

In fact, this crisis is fundamentally different from previous ones exactly because it shakes the foundational elements of our economies and societies: the organization of work, in its multiple forms. To fully analyse this process, we need to consider the interplay between reproductive and productive work, explore the effects of the crisis in the world of work, and map the interconnections with the reorganization of the role of the household within it. Notably, the tragic outcomes of the crisis should be understood as also dictated by the greatly damaging effects of decades of neoliberalization, austerity, and privatization of social reproduction, which as argued by , have produced a chronic crisis of care across the world economy. Households have been subject to a double squeeze. They have socialised this chronic crisis of care, while also being hit by declining income shares from paid employment. During the same period, in fact, labour markets experienced the feminization and informalisation of employment.

The COVID-19 pandemic has exacerbated an already critical situation in terms of socioeconomic inequality and the squeeze on social reproduction across the globe. However, the crisis may also lay the foundations for a rediscovered appreciation of the significance of social reproduction.

鈥淯nder pressure鈥�: negotiating competing demands and desires in a time of precarious earnings

December 7, 2020December 20, 2020 HjD1 Comment

A few years ago, during a year of ethnographic fieldwork with young un(der)employed men in a poor shack settlement on the outskirts of Johannesburg, I found myself sitting in Senzo鈥檚 one-room shack on a foldout camping chair. It was a hot Wednesday afternoon. Popular R&B music was blaring into the air from the nearby tavern. Senzo sat on his double bed. Soon after I arrived, Senzo handed me an ornate invitation with gold foil on the sides and his name on it. It was an invitation to the wedding of his cousin that was set to take place the following weekend. I asked Senzo if he planned to go. 鈥淚鈥檓 not going鈥�, he told me, explaining that he had declined the invitation because, as he put it, 鈥淚 don鈥檛 want to put more pressure on myself鈥� describing the difficulties he already had paying rent, keeping up with outstanding debts, and supporting his girlfriend and children. Going to the wedding would require him to buy a fancy suit and a gift for the couple. This required money he didn鈥檛 have. The 鈥減ressure鈥� Senzo described was not just the monetary cost of attending the wedding. It was also the feeling (what Senzo called 鈥渟tress鈥�) of being overburdened by competing demands on his money including buying consumer items, sending his children to good schools, and supporting family members. To understand the continuous “pressure” young men like Senzo face requires we give attention to the changing nature of work and the changing world of families in contemporary South Africa. As I show below the pressures young black un(der)employed men experience are at once economic and social given the pressure they face to not only 鈥減rovide鈥� for themselves and their families exists alongside a pressure to improve or 鈥渦pgrade鈥� their lives. As such, I show how the 鈥渋ncome-demands gap鈥� (a key catalyst of 鈥減ressure鈥�) in young men鈥檚 lives is produced in and through specific (increasingly temporary rather than enduring) social relations and ties.

The Agrarian Crisis in Punjab and the Making of the Anti-Farm Law Protests

December 4, 2020December 1, 2020 shreya.s3 Comments

The protests in Punjab are happening at a time when the agrarian economy is under stress. With increasing uncertainty, previously antagonistic groups across classes, castes & gender are coming closer, building a broader base for the agitation & beyond.

Punjab鈥檚 farmers have been unrelenting in their opposition to passed in September. Their sustained and creative opposition continues to make headlines. The central government too remains adamant and increasingly belligerent about sustaining the laws in their current form. The political pressure of the farmers has led the Punjab government, in a symbolic gesture, to pass rejecting the centre鈥檚 farm laws. The past weeks have witnessed bitter stand-offs: farmers blocking rail tracks, the railways suspending services to Punjab , and . A march of thousands of farmers to Delhi earlier this week to register their opposition to these laws is faced police barricades, water cannons, and tear gas shells.

In the face of the unpopularity of the farm laws, the central government has found refuge in different kinds of arguments in favour of the reforms. It has sought to discredit the protests by arguing that the agitation is driven by , and that small and marginal farmers are with these laws. The opposition to the new laws is portrayed as coming from large, prosperous, and politically powerful farmers, who dominate Punjab鈥檚 farmers unions and who benefited the most from the old system.

Economic Sovereignty for Developing Countries: What Role for Modern Money Theory?

December 2, 2020November 28, 2020 basiloberholzer4 Comments

With modern money theory (MMT) receiving impressive attention, the implications this theory has for developing countries have also been discussed more intensely. Emphasizing both its strengths and gaps provides a great chance to further develop macroeconomic strategies for poverty reduction and environmental sustainability.

In brief, the starts from the statement that money is issued by the government and brought into circulation via its expenditures. The government does not rely on taxes to fund expenditures when it is itself the source of money. Therefore, money can be created upon demand, is not limited, and can be used by the government to finance all expenditures it considers necessary to achieve policy goals such as full employment or a . The reason why agents in the economy accepts this money only consisting of numbers without any intrinsic value is the obligation to pay taxes. Since the state has the power to impose taxes, individuals need to get hold of money as this is the only way to meet their obligations; this is how the currency is accepted as a means of payments. The government thus has the power to run unlimited deficits because the fact that money is needed to pay taxes guarantees its acceptance even if those taxes do not cover expenditures. In fact, the government should run deficits because it creates the demand required for full employment while a balanced budget constrains it. The government cannot go bankrupt because there is no lack of currency it issues itself. The conditions identified by MMT for the system to work are the following: 1) the country must be sovereign of its own currency and 2) inflation needs to be kept under control. Once the latter starts accelerating due to increased nominal demand stemming from government expenditures, taxes can be increased in order to withdraw money from circulation. However, as long as full employment is not achieved, prices are argued to remain stable.

Does India鈥檚 Gender Budget Need a Rethink?

November 26, 2020November 24, 2020 shreyanambiar2Leave a comment

India was a pioneering country when it as part of its annual Financial Year Budget. Gender Budgeting (GB) highlights the inherently different experiences in receiving financial and welfare support from the state due to their differing needs, priorities and access and serves to ameliorate the barriers to economic inclusion faced by women through a plethora of state financing.

India鈥檚 Gender Budget Statement (GBS) has been released in. Each ministry highlights allocations that are – women specific allocations where 100% of the budget for a specific scheme is assigned to women and a 鈥榩ro-women鈥檚鈥� allocation, where at least 30% of the budget for a specific scheme has been assigned to women to enhance affirmative action.

Figure 1: Proportion of women鈥檚 allocation in India鈥檚 Gender Budget

Developmental Agency under the Radar: Developmental States and Coalitions in Dependent Market Economies and Low-Tech Sectors

October 14, 2020September 21, 2020 David KarasLeave a comment

In a co-authored with L谩szl贸 Bruszt and published in a of Review of International Political Economy, we identify a developmental state in the least likely of times 鈥� the period of hegemonic neoliberalism in the 1990s and early 2000s 鈥� and the least likely of places, namely the post-socialist Central Eastern European (CEE) economies conventionally described as FDI-dependent (DMEs).

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