Forms of Exploitation and Sources of Inequality within Capitalism

Geoffrey M. Hodgson 한국제도경제학회 2016 제도와 경제 Vol.10 No.1

At least nominally, capitalism embodies and sustains an Enlightenment agenda of freedom and equality1). Typically there is freedom to trade and equality under the law, meaning that most adults – rich or poor – are formally subject to the same legal rules. But with its inequalities of power and wealth, capitalism darkens this legal equivalence. As Anatole France (1894) noted ironically: ‘The law, in its majestic equality, forbids the rich as well as the poor to sleep under bridges, to beg in the streets, and to steal bread’. But this does not mean that legal equality is unreal or unimportant. On the contrary, legal systems enshrining such equality have been beacons of prosperity. Evidence gathered by Richard Wilkinson and Kate Pickett (2009) shows multiple deleterious effects of inequalities of income and wealth. Using data from twenty-three developed countries and from the separate states of the United States, they observed negative correlations between inequality and physical health, mental health, education, child wellbeing, social mobility, trust and community life. They also found positive correlations between inequality and drug abuse, imprisonment, obesity, violence, and teenage pregnancies. They suggested, but did not establish in detail, that inequality creates adverse outcomes through psycho-social stresses generated through interactions in an unequal society. A massive literature . too extensive to review here . examines the relationship between inequality and economic performance (Galbraith and Berner, 2001). Some argue that inequality is a necessary foundation for capital accumulation. But Robert J. Barro (2000) found that, after introducing controls for education, fertility, and investment, there is no significant correlation between inequality and economic growth. While some inequality provides high-powered incentives for entrepreneurs and other high-flyers, an unequal society also wastes the talent of many on middle and lower incomes who have less access to high quality education, sub-cultural support, and financial backing2). The development of secure financial institutions, including credit money and the sale of debt, is an historic book-end that conveniently marks the emergence of capitalism in England around the eighteenth century. Capitalism, as its name suggests, is about capital. If we use that word in its longstanding business sense of money, or the money value of collateralizable assets invested in production (and drop the different meanings given to the word by economists and sociologists) then capital-ism points to the institutions of property and finance that make monetized investment and collateralization possible (Hodgson 2014, 2015a). In my book Conceptualizing Capitalism, I propose a definition of capitalism that includes private property, widespread markets, widespread employment contracts and developed financial institutions that involve credit money and the sale of debt. The development of financial institutions was crucial to capitalism’s birth and take-off. Note that neither markets nor private property are sufficient to define capitalism, because they have both existed for thousands of years (Hodgson 2015a). What are the mechanisms within capitalism that exacerbate inequalities of income or wealth? The following section briefly considers the Marxist approach, based on the labour theory of value. The second section considers factor asymmetries between labour power and capital assets. These may be seen as possible types of exploitation within capitalism, and pointers to possible sources of increasing inequality within the system. The third section discusses whether markets are the source of inequality under capitalism. The fourth section argues that the institutional sources of inequality under capitalism are more to do with capital (when appropriately defined) than markets. The fifth section includes some policy suggestions and concludes the essay.

MEDLARS and MEDLINE Service의 現況과 展望

Hodgson, Paul 한국의학도서관협회 1982 한국의학도서관 Vol.9 No.1-2

MEDLARS and MEDLINE Service의 現況과 展望

Hodgson, Paul 한국의학도서관협의회 1982 한국의학도서관협의회지 Vol.9 No.1-2

Location of<i>γ</i>-ray emission and magnetic field strengths in OJ 287

Hodgson, J. A.,Krichbaum, T. P.,Marscher, A. P.,Jorstad, S. G.,Rani, B.,Marti-Vidal, I.,Bach, U.,Sanchez, S.,Bremer, M.,Lindqvist, M.,Uunila, M.,Kallunki, J.,Vicente, P.,Fuhrmann, L.,Angelakis, E.,Kar Springer-Verlag 2017 Astronomy and astrophysics Vol.597 No.-

Experimentally-Induced Oral Cancer in the F344 Rat : Effect of Stress Exposure

Hodgson, Deborah M.,Chiappelli, Francesco,Taylor, Anna N. Korean Academy of Oral Biology and the UCLA Dental 2000 International Journal of Oral Biology Vol.25 No.1

Oral cancer(OC) is associated with diffuse mucosal abnormalities resulting from carcinogen exposure. The major carcinogens are alcohol and tobacco, however, diet and viral infections are also risk factors. More recently it has been reported that disruption to the hypothalamic-pituitary-adrenal(HPA) axis, causing hypercortisolaemia may be a major risk factor. Exposure to chronic stress is associated with hypercortisoleamia. In this study we examined the effect of exposure to a chronic stressor on mortality rates from lingual carcinoma induced by administration of the carcinogen 7.12-dimethylbenz〔a〕anthracene 〔DMBA〕in the Fisher 344〔F344〕rat. F344 rats, 60-day old, received an injection of DBMA 〔5mg/kg〕in the left lateral border of the middle third of the tongue. half of the animals were then subjected to "cold water swim stress" 〔2℃〕for 3×3 minutes five days/wk for three weeks. Survival at 20wks post injecting was the outcome measure. Exposure to the stress protocol was found to increased mortality by 20.6%. Exposure to stress was also shown to significantly increase plasma corticosterone levels〔p<0.001〕and decrease body weight〔p=0.05〕. As such, the present study suggests that chronic stress reduces the survival rate in animals with lingual cancer induced by the carcinogen DBMA. The increase in mortality is associated with increased corticosterone levels, but at this point it is not clear if this relationship is causal. Ongoing studies are investigating the nature of this relationship and the interactive nature of stress with other factors known to act as cancer promoters〔i.e., viral infection, alcohol and drug abuse, and carcinogen exposure〕.

KVN observations reveal multiple γ-ray emission regions in 3C 84?

Hodgson, Jeffrey A,Rani, Bindu,Lee, Sang-Sung,Algaba, Juan Carlos,Kino, Motoki,Trippe, Sascha,Park, Jong-Ho,Zhao, Guang-Yao,Byun, Do-Young,Kang, Sincheol,Kim, Jae-Young,Kim, Jeong-Sook,Kim, Soon-Wook Blackwell Publishing Ltd 2018 MONTHLY NOTICES- ROYAL ASTRONOMICAL SOCIETY Vol.475 No.1

<P>3C 84 (NGC 1275) is a well-studied misaligned sctive galactic nucleus (AGN), which has been active in gamma-rays since at least 2008. We have monitored the source at four wavelengths (14, 7, 3, and 2mm) using the Korean VLBI network (KVN) since 2013 as part of the interferometric monitoring of gamma-ray bright AGN (iMOGABA) programme, and it exhibits bright radio emission both near the central SMBH and in a slowly moving feature located to the south known as C3. Other facilities have also detected these short-term variations above a slowly rising trend at shorter wavelengths, such as in gamma-ray and 1-mm total intensity light curves. We find that the variations in the gamma-rays and 1-mm total intensity light curves are correlated, with the gamma-ray leading and lagging the radio emission. Analysis of the 2-mm KVN data shows that both the gamma-rays and 1-mm total intensity short-term variations are better correlated with the SMBH region than C3, likely placing the short-term variations in Cl. We interpret the emission as being due to the random alignment of spatially separated emission regions. We place the slowly rising trend in C3, consistent with previous results. Spectral analysis of the gamma-ray data shows that the gamma-ray flaring is inconsistent with blazar-like gamma-ray emission. Additionally, we report that since mid-2015, a large mm-wave radio flare has been occurring in C3, with a large gamma-ray flare coincident with the onset of this flare at all radio wavelengths.</P>

Tata Steel Europe's Approach to the Circular Economy in a Life Cycle Perspective

( Peter Hodgson ),( Paul Brooks ) 포스코경영연구원 2018 Asian Steel Watch Vol.5 No.-

Cosmological QUOKKAS: A new method for measuring distances using an extended KVN to Australia

Jeffrey Hodgson,Sang-Sung Lee,Benjamin l’Hullier,Yannis Lioadkis,Arman Shafieloo 한국천문학회 2019 天文學會報 Vol.44 No.1

신의 사망과 기독론의 위기 -Altizer, Hamilton, Bonhoeffer, Ebeling을 중심하여-

P.C. Hodgson 한신대학교 한신신학연구소 1967 신학연구 Vol.10 No.-

Morality in an Evolutionary Perspective

Geoffrey M. Hodgson 한국공공선택학회 2016 The Korean Public Choice Society Vol.4 No.1

애덤 스미스는 사람들은 이기적 동기(사익 추구)뿐만 아니라 ‘도덕적 동기’에 의해서도 행동한다고 생각하였다. 찰스 다윈은 스미스의 그러한 인간 동기를 ‘진화적으로’ 옹호 하였다. 그러나 대부분의 경제학자들은 스미스와 다원의 주장을 거의 무시해 왔다. 최근 인간은 이기적일 뿐만 아니라 협조적임을 증명하는 실증적 연구들이 자주 제시되 고 있다. 그러나 많은 연구들은 ‘도덕성’(morality)을 이타주의 또는 협조로 인식하고 있다. 반면에 다윈은 도덕성의 특징과 역할을 분명하게 구분하였다. 특히 다윈의 주장 은 순수한 이기심(사익추구)이라는 일반적 생각과 도덕성이 효용 또는 선호의 문제로 축약될 수 있다는 기존 관념에 반대하였다. 도덕 철학자들 간의 보편적 견해에 따르면 도덕적 판단은 순전히 선호나 효용 극대화의 문제로 취급될 수 없다고 주장한다. 다윈 에 의하면 도덕성이란 ‘옳은 일을 하는 것’(doing the right thing)을 말한다. 도덕성 은 선호나 효용에 우선되는 ‘정의’(justice)의 개념을 수반하며, 도덕적 판단은 감적적 느낌이나 이성적 주장에 의해 보강되는 성질을 가지고 있다. 도덕성은 편리, 관습, 순응 등의 문제들과는 근본적으로 다르다. 도덕적 감정은 학습된 문화적 규범이나 규칙에 의해 앙양된다. 또한 도덕성은 사회적으로 감정적 규칙들과 관련된 ‘집단적’ 현상이다. 본 논문은 ‘다윈의 진화론적 관점’에서 도덕성을 고찰해 보고자 한다. 도덕 성은 진화적 기원을 가지고 있으며, 개인적 현상일 뿐만 아니라 사회적 현상이기도 하다. 따라서 본 논문의 핵심적 주장은 ‘도덕성이 진화적·사회적 현상이기 때문에 개인 의 선호나 효용으로 축약될 수 없다’는 점이다. Adam Smith regarded individuals as driven by moral motives as well as self-interest. Charles Darwin also provided an evolutionary vindication of Smith’s view of human motivation. But it was ignored by most economists. There is now an enormous body of empirical research confirming that humans have cooperative as well as self-interested dispositions. But many accounts conflate ‘morality’ with altruism or cooperation. By contrast, Darwin established a distinctive and vital additional role for morality. Darwin’s argument counters the idea of unalloyed self-interest and the notion that morality can be reduced to a matter of utility or preference. A widespread view among moral philosophers is that moral judgments cannot be treated as matters of mere preference or utility maximization. Morality means “doing the right thing”. It entails notions of justice that can over-ride our preferences or interests. Moral judgments are by their nature inescapable, and are buttressed by emotional feelings and reasoned argument. Morality differs fundamentally from matters of mere convenience, convention or conformism. Moral feelings are enhanced by learned cultural norms and rules. Morality is a group phenomenon involving deliberative, emotionallydriven and purportedly inescapable rules that apply to a community. In this paper, I attempt to examine the morality in an evolutionary perspective. Moral motives have evolutionary origins and are sustained through interaction with others: morality is a social as well as an individual phenomenon. Thus, main argument in this paper shows that morality cannot be reduced to individual preferences or utility.