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Abstract:Although Touraine has maintained that the subject is constituted collectively, the last production of sense resides in identified organizations of conscience within themselves, that is to say, in individuals; this way, it has connected with certain Latin American leftist orientation and its invocation to " subjects of right" entitled to a "sovereignty" that, in last instance, supposes the "conscientious control on itself". Thus, the axioms of the individualistic liberal policy happen to constitute the constant bottom on which take place the deepest social changes. ; Aunque Touraine ha sostenido que el sujeto se constituye colectivamente, la producción última del sentido la hace residir en entidades de conciencia identificadas consigo mismas, es decir, en individuos; de este modo, se ha conectado con cierto izquierdismo latinoamericano y su invocación a "sujetos de derecho" titulares de una "soberaní­a" que, en última instancia, supone el "control consciente sobre un sí­ mismo". Así­, los axiomas de la polí­tica liberal individualista pasan a constituir el fondo constante sobre el cual se efectúan hasta los cambios sociales más profundos.

The paper analyzes Albert Hirschman's theory of linkages in economic development in his writings, and the possible influence of his Colombia experience in the development of this idea. The theory is then applied to explain Colombia's economic history in the nineteenth and twentieth century. (Desarrollo y Sociedad/ GIGA)

In the face of the worldwide trend of granting a greater degree of autonomy to central banks, the compatibility of this scheme with a democratic society has been questioned. In this article, Miguel Urrutia concludes that the independence of the central banks removes the temptation to manage such a powerful instrument as monetary policy in a populist form, and that, on the contrary, it democratizes their oversight, as it subjects them to the surveillance of parliaments, the academy, local and international financial markets, and public opinion. ; Ante la tendencia mundial de otogar un alto grado de autonomía a los bancos centrales, se ha cuestionado la compatibilidad de este esquema con una sociedad democrática. En este trabajo Miguel Urrutia concluye que la independencia de los bancos centrales aleja a la tentación de manejar en forma populista un instrumento tan poderoso como la política monetaria y que, por el contrario, democratiza su contol, pues la somete a la vigilancia de los parlamentos, la academia, los mercados financieros locales e internacionales y la opinión pública.

Ante la tendencia mundial de otogar un alto grado de autonomía a los bancos centrales, se ha cuestionado la compatibilidad de este esquema con una sociedad democrática. En este trabajo Miguel Urrutia concluye que la independencia de los bancos centrales aleja a la tentación de manejar en forma populista un instrumento tan poderoso como la política monetaria y que, por el contrario, democratiza su contol, pues la somete a la vigilancia de los parlamentos, la academia, los mercados financieros locales e internacionales y la opinión pública. ; In the face of the worldwide trend of granting a greater degree of autonomy to central banks, the compatibility of this scheme with a democratic society has been questioned. In this article, Miguel Urrutia concludes that the independence of the central banks removes the temptation to manage such a powerful instrument as monetary policy in a populist form, and that, on the contrary, it democratizes their oversight, as it subjects them to the surveillance of parliaments, the academy, local and international financial markets, and public opinion.

This paper seeks to understand and quantify how social safety net programs impact household savings in developing countries, considering the case of Colombia using two complementary approaches. The first approach explores how the health regime affects savings in the country. The second evaluates the impact on savings offamilias en acción, a major antipoverty conditional cash transfer program. The results suggest that the savings of informal households are higher than those of formal households, because, with little incentive to enter the formal job market, informal households need to cover slightly greater non‐covered risks. The results also show thatfamilias en acciónrecipients save more than non‐recipients because recipients favorably adjust their expenditure patterns.