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Mobility of Capital
The ability of private funds to move across national boundaries in pursuit of higher returns. This mobility depends on the absence of currency restriction on the inflows and outflows of capital.
Complex Capitalism
The contemporary phenomenon of free trade in world markets characterised by the differential interests of factors of production: (a) labour (popular capitalism); (b) enterprise (alliance capitalism); and (c) capital (advanced capitalism). The government sector of the economy provides policy innovations, and general oversight to procure competitive markets.
(i) Popular Capitalism
Originally popularised by the Thatcher government, processes of wealth accumulation are deemed basic to household and private sector activity. Popular capitalism espouses economic emancipation whereby individuals acquire access to material welfare, home ownership, affluence, and a universe of financial and portfolio securities.
(ii) Alliance Capitalism (also known as Regulatory Capitalism)
The concept of Alliance Capitalism refers to role of government in crafting business and industry policy to sustain domesticated enterprises and to promote multinational enterprise activity. Governments may deploy a variety of taxation and incentivisation programs to foster and encourage formation of business enterprises.
(iii) Advanced Capitalism (also known as Disorganised Capitalism)
Advanced capitalism distinguishes post-industrial countries by measures of depth and intensity of integration of the capitalist model, and characteristically denotes those societies that have already attained the status of mature open-economies.
International Political Economy (IPE)
International Political Economy (IPE)
Flexibilisation of Production
The internationalisation of production defined by a ‘technological fix’, a ‘product fix’ and a ‘spatial fix’ as demonstrated by the Product Life Cycle and north-south labour-capital hierarchy.
Flexibilisation of Labor
The internationalisation of labour defined by flexibility across four principle dimensions: (i) external numerical flexibility (intake of workers from the external market); (ii) internal numerical flexibility (of working hours); (iii) functional flexibility (multi-skilling and outsourcing); and (iv) financial flexibility (setting of wages)
Economic Geography
Economic Geography
Uneven Development
Persistent disparities in inter-country and inter-region income inequality and quality of life outcomes is explained by economists as consequence of differential growth of sectors, geographic processes, socio-economic classes and regions at variant spatial levels. This phenomenon is also known as a 'differential of contemporaneousness'.
Regional Integration
The process by which states enter into a regional agreement in order to enhance regional cooperation through regional institutions and rules.
Optimal Currency Areas
In the internationalisation of finance, an optimal currency area (or region) is a geographical region in which it would maximize economic efficiency to have the entire region share a single currency.
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