[Selections by Humberto Barreto for SHOE list.]

1. D-1 Spinozist criticism of Orléan&Lordon's thesis By Andre Moulin
2. Financialisation and demand and growth regimes: A review of post-Keynesian contributions By Hein, Eckhard; van Treeck, Till
   
3. Meritocracy and Inequality By Moisson, Paul-Henri
   

1. D-1 Spinozist criticism of Orléan&Lordon's thesis

   By:	Andre Moulin (CPN - Centre Pierre Naville - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay)
   Abstract:	This article, while confirming the great interest of spinozist approaches to the state and the currency of A. Orléan and F. Lordon, discusses their analysis which seems to ignore The Reason. Two texts are discussed: the description on the EHESS website of F. Lordon's seminar "structuralism of passions", the article "Genesis of the State and Genesis of the Currency " of A. Orléan and F. Lordon. This article is based on article (B-2) "Fundamental Premises for any SHS" and above all on article (A-3) criticising Spinoza's Reason and introducing multiple reasons in his works. In the two texts discussed, Reason is never mentioned: on the one hand there are feelings and on the other hand human institutions (" Majuscule institutions", money, etc.). By taking up the Spinozist criteria of the "true ", both (a-) the concept of the "State of a mercantile nature", and (b-) the feelings lent to merchants, to explain the supposed things put in place are not proven propositions, in the sense given in Ethics, but premises to be accepted or rejected .... according to our own feelings as readers. For our part, we accept them with pleasure. We accept them more easily because we will then replace the Reason according to Spinoza with the reasons we propose in the article (A-3) criticising Spinoza's Reason and introducing multiple reasons in his works, before mobilising them to better document the spinozist intuitions of these two authors.
   Abstract:	Cet article, tout en confirmant le grand l'intérêt des approches spinozistes de l'État et de la monnaie de A. Orléan et F. Lordon, discute leur analyse qui semble ignorer La Raison. Deux écrits sont discutés : la présentation sur le site de l'EHESS du séminaire « structuralisme des passions » de F. Lordon, l'article « Genèse de l'État et genèse de la monnaie »1 de A. Orléan et F. Lordon. Cet article repose sur l'article (B-2) « Prémisses fondamentales pour toute SHS » et surtout sur l'article (A-3) critique de la Raison chez Spinoza et introduction de raisons multiples dans ses ecrits. Dans les deux écrits discutés, la Raison n'est jamais évoquée: il y a d'une part des sentiments et d'autre part des institutions humaines (« Institution majuscule », monnaie, etc..). En reprenant les critères spinozistes du « vrai »2, aussi bien (a-) le concept de « État de nature marchande », que (b-) les sentiments prêtés aux marchands, pour expliquer les choses présumées mises en place ne sont pas des propositions démontrées, au sens donné dans l'Éthique, mais des prémisses à accepter ou à rejeter …. selon nos propres sentiments de lecteur. Pour notre part, nous les acceptons avec plaisir. Nous les acceptons d'autant mieux que nous remplaçons ensuite la Raison selon Spinoza par les raisons que nous proposons dans l'article (A-3) critique de la Raison chez Spinoza et introduction de raisons multiples dans ses ecrits, avant de mobiliser ceux-ci pour mieux étayer les intuitions spinozistes de ces deux auteurs.
   Keywords:	philosophie, Socio-économie, capitalisme, Spinoza, raisons, sentiments, passions, monnaie
   Date:	2024–02–22
   URL:	http://d.repec.org/n?u=RePEc:hal:journl:hal-02529252&r=hpe

2. Financialisation and demand and growth regimes: A review of post-Keynesian contributions

   By:	Hein, Eckhard; van Treeck, Till
   Abstract:	We review post-Keynesian assessments of the macroeconomic demand and growth impacts of financialisation. First, we examine the channels of influence of financialisation on distribution and on the different components of private aggregate demand, i.e. investment, consumption and net exports. Since increasing shareholder power and shareholder value orientation of management has been viewed as key to understanding the macroeconomics of financedominated capitalism, we start with the effects of financialisation in the context of the postKeynesian theory of the firm and explain the other channels from there. An important result is the emergence of 'profits without investment' demand and growth regimes, for which we point out the condition based on Kalecki's profit equation. The third section then turns to the post-Keynesian analysis of the different variants of 'profits without investment' demand and growth regimes in finance-dominated capitalism. We review the different levels of analysis, the national income and financial accounting de-composition approach as well as different attempts at identifying growth drivers. We argue that these different levels of analysis are complementary for our understanding of demand and growth regimes under financialisation.
   Keywords:	Financialisation, demand and growth regimes, stagnation, post-Keynesian distribution and growth models
   JEL:	E12 E21 E22 E25 E44
   Date:	2024
   URL:	http://d.repec.org/n?u=RePEc:zbw:ifsowp:285373&r=hpe

3. Meritocracy and Inequality

   By:	Moisson, Paul-Henri
   Abstract:	How do individuals behave in a society that rewards "merit", despite not being all on the same starting line? Does inequality in head starts make meritocracy undesirable?Attempting to answer these questions, this paper develops a model of career concerns in which agents publicly choose among several activities in which to exert e˙ort, and di˙er along a privately observable characteristic ("head start") that a˙ects their performance. The agents’ audience values talent, effort and head start. We highlight two contrasting effects: a displacement effect by which the "poor" (head start-wise) try to avoid a lower talent image and thus avoid the activity chosen by the "rich", and a distinction effect by which the rich try to reap a higher head-start image and thus avoid the activity chosen by the poor. While displacement drags the poor towards activities with lower incentives on effort, distinction pulls the rich towards activities with higher incentives. Interpreting the model in terms of "meritocracy", we emphasize how the dominance of displacement or distinction can cause well-meaning policy interventions to backfire, and make meritocracy desirable or not.
   Keywords:	Meritocracy; inequality; image concerns; displacement; distinction
   JEL:	D2 D6 H2 J24 M5
   Date:	2024–03
   URL:	http://d.repec.org/n?u=RePEc:tse:wpaper:129192&r=hpe