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GDP per person of poorest a and richest b regions, 2000 vs 2015168 European Journal of Economics and Economic Policies: Intervention, Vol. 15 No. 2
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What is termed ‘globalisation’ has taken many forms over the centuries. The last time we had a ‘free market’ form of globalisation, such as is largely in force across the world today, was in the run up to the First World War; goods, people and capital crossed borders, as the leading industrial economies sought economic advantage in a process that u...
Context in source publication
Context 1
... can be seen from Table 1, the degree of regional inequality varies across countries, with Britain being the most unequal. The degree of regional inequality in most countries deteriorated over the 15 years from the year 2000 to 2015, and the worst case of such a deterioration was in Britain. ...Citations
... Moreover, the search options are filtered based on the publication year between 2007 and 2022, which is decided upon the fact that the political and economic landscape has a shift in viewing climate change due to the shocking temperature increase estimation in 2007 by 4-6°C and the global financial crisis in 2007-2008. Moreover, adding a search filter based on various relevant study fields is necessary because the study of capitalism is highly inter-and multidisciplinary involving disciplines such as business, political science, international relations, and environmental studies (Michie, 2018). The collected articles at this stage are 82. ...
... Capitalism considers solutions that are not exclusively in line with sustainable development, but rather solutions that do not endanger the functioning of the system. As the concern raised by PRACTICAL INPUTS Michie (2018) that the capitalism-unleashed form of globalization has been focusing on not saving the planet, people, or profit, but instead on saving capitalism itself. ...
In 2019, a climatic wake-up call was made by the IPCC as the world’s temperature is projected to increase by 4-6°C. With the systematically ingrained capitalist imperatives in the political and economic landscape, the notion of “green capitalism” was introduced in the justification of limitless economic growth with less energy consumption than the world can sustainably produce (Schweickart, 2010). Prior research has identified heterogenous stances on green capitalism. However, sustainable transition research has neither clarified the realistic middle ground that it should pursue, nor has it determined whether a pro- or anti-capitalistic stance should be taken in the first place (Feola, 2020). Through a literature review, the analysis of heterogeneous stances on green capitalism based on its debate scopes reveals the need to exploit capitalist imperatives to a sustainably appropriate extent rather than forcing it to produce a midway standpoint of the “Net Zero” global consensus. The findings suggest the need for a potential reconceptualization of capitalism in the political and economic landscape as a tool of green revolution toward sustainable transition, providing a realistic middle ground.
... Moreover, the search options are filtered based on the publication year between 2007 and 2022, which is decided upon the fact that the political and economic landscape has a shift in viewing climate change due to the shocking temperature increase estimation in 2007 by 4-6°C and the global financial crisis in 2007-2008. Moreover, adding a search filter based on various relevant study fields is necessary because the study of capitalism is highly inter-and multidisciplinary involving disciplines such as business, political science, international relations, and environmental studies (Michie, 2018). The collected articles at this stage are 82. ...
... Capitalism considers solutions that are not exclusively in line with sustainable development, but rather solutions that do not endanger the functioning of the system. As the concern raised by PRACTICAL INPUTS Michie (2018) that the capitalism-unleashed form of globalization has been focusing on not saving the planet, people, or profit, but instead on saving capitalism itself. ...
In 2019, a climatic wake-up call was made by the IPCC as the world’s temperature is projected to increase by 4-6°C. With the systematically ingrained capitalist imperatives in the political and economic landscape, the notion of “green capitalism” was introduced in the justification of limitless economic growth with less energy consumption than the world can sustainably produce (Schweickart, 2010). Prior research has identified heterogenous stances on green capitalism. However, sustainable transition research has neither clarified the realistic middle ground that it should pursue, nor has it determined whether a pro- or anti-capitalistic stance should be taken in the first place (Feola, 2020). Through a literature review, the analysis of heterogeneous stances on green capitalism based on its debate scopes reveals the need to exploit capitalist imperatives to a sustainably appropriate extent rather than forcing it to produce a midway standpoint of the “Net Zero” global consensus. The findings suggest the need for a potential reconceptualization of capitalism in the political and economic landscape as a tool of green revolution toward sustainable transition, providing a realistic middle ground.
... The labour market scarring effects of deindustrialization are especially acute in LMEsone clear lesson is evident: regional labour market policy cannot be left to the invisible hand of market forces; there needs to be coordinated interventions by the state at national and regional levels to achieve 'levelling-up' for left behind communities (Tomaney & Pike, 2020). If labour market resilience is to inform theory and policy, it should be focused on helping the vulnerable (the redundant, unemployed and precariously underemployed) and aligned with alternative more holistic supply and demand-oriented regionally devolved policy ideas; notably the 'foundational economy' (Foundational Economy Collective, 2018) and a 'Green New Deal' (Michie, 2018). ...
The concept of resilience has been captured by a neoliberal discourse displacing responsibility to individuals and regions. This article specifically examines the regional labour market resilience of workers and other regional stakeholders relating to an ongoing economic restructuring process of deindustrialization and redundancies in Anglesey, North West Wales, in the UK. Using 11 years of longitudinal qualitative research, we provide an empirical narrative that applies a labour market resilience framework (challenge, context, responses and outcomes) from a workers’ perspective. It connects the empirical findings from this critical case study to broader generalizability for regional studies and regional policy implications. Regarding generalizability to regional studies theory, the labour market resilience of workers is impacted at different but interlinking levels: the global systemic level of neo-liberal capitalism; the national country level of institutional varieties of capitalism (liberal market economies versus coordinated market economies); and regional variations across countries.
... otherwise, their fiduciary duty is to make short-term financial returns by speculating on the markets along with everyone else. it is a question of what sort of system we design and maintain -one of laissez-faire capitalism, where short-term financial returns are maximised, or one where activities are regulated to take account of the environmental and economic costs that society would otherwise have to bear. (Michie, 2008) The alternative system for the international economy -where activities are regulated to take account of the environmental and economic costs that society would otherwise have to bear -is set out and argued in detail in 2018), where i argue for a 'Global Green new deal' to replace the era of capitalism unleashed that led to the 2007-08 international financial crisis and the resulting global recession of 2009, and the subsequent decade that was lost to austerity. That alternative, i argue, needs to tackle inequality and tax evasion, as well as climate change, and needs a more diversified corporate structure, including more member-owned companies (mutuals, co-operatives, and ...
