So what is Capital in the Twenty-First Century? Some notes on Piketty’s book Working paper, forthcoming in Capitalism & Society

This study was inspired by Piketty’s excellent and important book. Its title and numerous statements in it arouse in readers expectations of a comprehensive analysis of capitalism. By comparison the author of this paper felt important aspects were lacking. The capitalist system has numerous immanent traits and innate tendencies, of which the paper takes a closer look at three properties. 1. One basic feature is dynamism, innovation, and creative destruction. No picture of capitalism can be full if this basic aspect is ignored. 2. Capitalism inevitably brings about a high degree of inequality; this must be eased by reforms, but cannot be entirely overcome. 3. The basic characteristics of capitalism – private ownership and the dominance of market coordination – give rise to strong incentive mechanisms that encourage but owners and enterprise executives to innovate and to cooperate effectively. One of the main incentives is competition, especially oligopolistic competition. There are strong mutual effects among these three important tendencies. It is impossible to understand well Piketty’s main subject, the distribution of income and wealth, if it is divorced from the other two tendencies. The study ends with its author’s own value judgements on the favourable and harmful, unjust attributes of the capitalist system.

Merre vezessen a magyar kapitalizmus útja? Látkép Ronald Coase világítótornyából = Which course for Hungary s capitalism? A view from Ronald Coase s lighthouse

A tanulmány - amely Coase és az új intézményi közgazdaságtan alapján keresi a címbeli kérdésre adható választ - a kapitalizmus alapvető interakciós formájaként a kölcsönösen előnyös cserét azonosítja, amely az emberi együttműködés megnyilvánulása. A gazdasági fejlődés feltétele e kooperáció költségeit csökkentő társadalmi játékszabályok, intézmények kialakítása. A jól működő kapitalizmus intézményi rendje sűrű és sokrétű, a részleteit tekintve időben és térben igen változó, jelentős részben nem állami, hanem magáneredetű. Ez a rend nem tervezhető meg, és jelenlegi tudásunk alapján nem is érthető meg konzisztens, összefüggő rendszerként. A magyar gazdaság fejlődési célját ezért nem lehet nemzetgazdasági szintű rendszerként vagy modellként megfogalmazni. A tényleges feladat az intézményi rend középszintű elemeinek fokozatos, kísérletező változtatása, figyelembe véve a már létező intézményi környezet történetileg adott, helyhez és időhöz kötött sajátosságait. De az intézményi "barkácsolásnak" mindvégig szem előtt kell tartania a kapitalizmus alapelvét: az önkéntes, kölcsönösen előnyös tranzakciók támogatását. _____ The study draws on Coase s lighthouse" of new institutional economics in addressing this question. It identifies mutually beneficial exchange, a manifestation of human cooperation, as the underlying form of interaction in capitalism, while stressing that economic development depends on creating social rules of the game (institutions) that decrease the costs of exchange. The institutional order of well-functioning capitalism is thickly woven with many features, often of private rather than public (legal or political) origin. Details vary greatly in time and space. Such an order cannot be planned, and with current knowledge, it cannot be seen as a consistent system. So the goal in Hungary s economic development should not be defined as a system or model for a national economy. It should set out to change intermediate-level institutions in gradual, experimental ways that pay heed to the time and space-bound idiosyncrasies of existing ones. Moreover institutional tinkering" should observe capitalism s basic institutional principle: facilitation of voluntary, mutually beneficial transactions.

Interview with Dr. Joe Leigh Simpson, the Founding Executive Associate Dean for Academic Affairs of Florida International University Herbert Wertheim College of Medicine

A series of interviews with the founding deans of Florida Interanational University Herbert Wertheim College of Medicine conducted on April 6, 2011 by Bohyun Kim, the Digital Access Librarian at Florida International University Medical Library. This audio recording is the interview with Dr. Joe Leigh Simpson, the Founding Executive Associate Dean for Academic Affairs at Herbert Wertheim College of Medicine, Florida International University, and the format of the audio file is MP3.

Florida International University College of Medicine hires National Academy of Sciences Member as First Dean of Academic Affairs

Press Release from Florida International University 's Office of Media Relations announcing the selection of Dr. John Rock's appointment as first dean of academic affairs at Florida International University 's College of Medicine.

Academic catalog (Florida International University). [1985-1986]

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Academic catalog (Florida International University). [1983-1984]

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