Suchergebnisse

Commodity currencies have been stood against fiat money in the discourses on the history of money, implying a development from primitive forms of money – which needed anchor in a real commodity to gain acceptance, for instance gold, silver or copper – to a more sophisticated monetary regime based solely on confidence and trust. This paper argues that the idea of a gradual replacement of the former form of money by the latter is an ahistoric construct: commodity and fiat monies have replaced each other over the millennia, and the latest craze for commodity currency was as recent as the 1920's when numerous European currencies were based on gold. More fundamentally, money is here viewed as a social relationship, where the anchoring of money in commodities over the centuries may be seen either as strengthening the social contract between the regent and the people, or as undermining it by reducing the space of politics at the expense of automatic regulators. With the break-through of democracy in the early 20thcentury, the benefits of automaticity were increasingly questioned, and finally abandoned in the 1930's. In this light, the Bretton Woods regime (1945-1970), although based on dollar-gold convertibility, is not to be interpreted as a commodity currency system but rather as one where politics took the lead over market forces, ushering post-WWII Europe, North America and Japan into a stage of embedded liberalism. It is customary to pin the demise of this era to the misuse of the USA of its de facto international currency monopoly, but the crucial shift was rather the advent of neoliberal political domination of the 1980's which disembedded markets from politics once again, not the over-reach of the USA. The tying of the hands of politics, and thus of democracy, of disembedding the markets, took another leap forward with the convergence criteria established by the EU as a precondition for joining the euro zone. The paper concludes that just as the embedding of the markets post-WWII grew out of the interwar years' dismal economic, social, political and military experiences, so, too, a re-embedment of markets may take its point of departure in the economic, social and political catastrophes following the financial crisis of 2008, and the difficulty of dealing with its consequences which have beset the euro zone countries ever since. If such a trend begins to take hold, it is argued, it is the political embedding of markets which we should focus on, not the tying of currencies to a commodity anchor.

Sweden has a certain reputation in the Third World as its aid is less tied, more in the form of grants, is a greater proportion of national income than other donors, and is generally directed to 'progressive' countries, like Mozambique, Vietnam and Tanzania. However, even under the Social Democratic governments up to 1976, this 'radical' aid policy co‐existed with a general stance of support for the established international economic order. Since then, and more as a response to crisis than a result of the new government of the right, aid policy has been more geared to promoting the further internationalisation of Swedish capital.

This paper provides a review of research into financialisation of the environment, focusing on the role of financialisation in the interface between social and natural dimensions of sustainability, the geographical penetration of finance into environmental sectors, and its increasing control over the production of nature and environmental governance through regulating flows of capital and consequently material flows. Financialisation is conceptualised as a profoundly spatial process, forging financial ecologies with consequences crucial to conditions for sustainability of social-ecological systems. The paper introduces the theme by framing financialisation in historical contexts. Financialisation of the environment is then related to processes of commodification, privatisation, neoliberalisation and accumulation by dispossession within the broader context of intersections between political economy and political ecology, highlighting the distinction between use-value/object-oriented investments and exchange-value/'investor'- oriented investments, the right to inhabit place, and the shift from control and command to economic incentives, drawing out implications for sustainability. Research on financialisation of agriculture and land resources, and on financialisation in relation to economic and social dimensions, is reviewed, and current moves towards re-regulation are considered from the perspective of a Polanyian countermovement. Conclusions reconsider the nature of the relationship between financialisation and sustainability and the challenges of bringing financial systems into the service of achieving social and natural sustainability.

In 1987, Mozambique initiated a three year Economic Rehabilitation Programme (PRE). Eighteen months after the inception of PRE, half way through the 1987-1990 period, change is quite profound, the economic-political scene is changed, a whole new social dynamic has been set in motion, and tendencies which hitherto had been suppressed or operating clandestinely have now come out into the open. This report tries to discern some salient features in the ongoing process which seem to have a strong bearing on recommendations for Swedish development cooperation

"Power and social inequality shape patterns of land use and resource management. This book explores this relationship from different perspectives, illuminating the complexity of interactions between human societies and nature. Most of the contributors use the perspective of "political ecology" as a point of departure, recognizing that human relations to the environment and human social relations are not separate phenomena but inextricably intertwined. What makes this volume unique is that it sets this approach in a trans-disciplinary, global, and historical framework."--Publisher's website.

Enthält: Hermele, Kenneth: Structural adjustment and political alliances in Angola, Guinea-Bissau and Mozambique, S. 5-16. Rudebeck: Lars: Structural adjustment in a West-African village, S. 17-67

This paper discusses some of the arguments in the debate on economic sanctions against South Africa and why this debate at times is confused. Taking its point of departure in recent literature on sanctions, it elaborates some of the main issues: the example of Rhodesia, sanctions and the structural weakness of the South African economy, repercussions on the front line states, and effects of "dis-investment" by the transnational companies. One main conclusion in the paper is that all partial sanctions are important, not in themselves, but as part of a cumulative pressure which reduces the scope of manoeuvre for the apartheid regime