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  • Author: Jens Beckert
  • Publication Date: 03-2014
  • Content Type: Working Paper
  • Institution: Max Planck Institute for the Study of Societies
  • Abstract: Capitalism is an economic and social order oriented toward the future. In this paper, I describe the unfolding of the temporal order of capitalism and relate it to the restless dynamism of capitalism we have observed since the Industrial Revolution. Since the future is open, actors are confronted with the uncertainty of the outcomes of their decisions. What can expectations be under conditions of uncertainty? To answer this question, I introduce the notion of fictional expectations which can be used to describe decisions made under conditions of an open and uncertain future. In the paper’s penultimate section, I apply the concept of fictional expectations to the analysis of four crucial processes of capitalism: money and credit, investments, innovation, and consumption. The main thrust of the paper is that in order to understand economic action in capitalism, actors’ perceptions of the future need to take center stage. Not only “history matters,” but also the “future matters.”
  • Topic: Economics, Markets, Socialism/Marxism, Social Movement, Capitalism
  • Political Geography: Global Focus
  • Author: Alex Evans
  • Publication Date: 12-2014
  • Content Type: Working Paper
  • Institution: Max Planck Institute for the Study of Societies
  • Abstract: Until recently, 95% of the bandwidth for talking and thinking about the post-2015 agenda was focused on goals and targets. Now that the Open Working Group (OWG) on the post- 2015 agenda has reported, though, policymakers and opinion formers are starting to think more seriously about the ‘how’ as opposed to the ‘what’ – and what a new Global Partnership on development, as well as the overall political outcome on means of implementation (MOI) more broadly, might look like by the end of next year.
  • Topic: Development, Economics, Politics, Sustainable Development Goals
  • Political Geography: Global Focus