In this paper we analyze the effects if two countries, with different settings on the labor market, open their capital markets. To do this we follow the ideas of New Institutional Economics in combination with a new model of economic growth. We will use a Leontief production function, where we derive the distribution of income by using an approach stemming from conflict theory, to highlight some new insights into the question whether an open world capital market enhances the overall welfare. First of all, using conflict theory, we will pay some attention to the micro-economic foundation of a Harrod-Domar model. At least we want to analyze what will happen if for e.g.: China opens the capital market to the EU zone, where the institutions in both regions are very different. We will show that this will always lead a race to the bottom from the view of workers in the former developed region.
MULTIFILE
This is the third episode of Art in Permacrisis, a podcast on the organization of art workers in the face of the ever-growing stack of crises. How can artists make a living without selling their souls? Can we imagine and practice a sustainable art economy beyond precarity? How should we transform the circulation of artworks, the curriculum of art and design academies, the exhibition programs of museums, and the organization of collectives and unions? We invite speakers with combined backgrounds in art, theory, and organizing to share their insights.In this episode, we talk to Katja Praznik. Katja is an associate professor at the University at Buffalo’s Arts Management Program and the Department of Global Gender and Sexuality Studies. Our conversation focuses on her book, Art Work: Invisible Labour and the Legacy of Yugoslav Socialism as well as questions of strategy and the future of work in the arts.
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Does Northern Europe possess unique characteristics that cannot disappear and do not need to disappear, or will globalisation inevitably result in uniformity, divested businesses, lower wages and huge pressure on social security provisions? This is one of the main questions addressed by the authors.The authors examine how companies respond to global developments. They also discuss the implications of these developments for entrepreneurs and whether knowledge institutions and governments play a part in creating a climate that is conducive to enterprise. They consider these issues from the perspective of different regions. Each region has its own distinct regional characteristics and its own distinct regional views on particular issues. As well as endeavouring to describe the key macroeconomic characteristics, they also consider how (entrepreneurial and policy-making) organisations should respond to the current macroeconomic challenges.
