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Can Subsidies Discipline Capital?
Can Subsidies Discipline Capital?

Can Subsidies Discipline Capital?

The Biden Administration’s recent foray into industrial policy relies heavily on voluntary inducements to push firms to invest in renewable energy technology and domestic manufacturing. Some observers argue that this approach, commonly known as “derisking,” will yield paltry results: firms will pursue the same priorities they would have absent the legislation, just with a better financial return. Yet subsidies do not only alleviate risk; they also impose a new risk of falling behind competitors, and so mold the landscape of profitability into a disciplinary force itself.

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Seeing the University More Clearly

Crisis can be clarifying. Recent events on campuses across the country have forced many of us to look more closely at how our own universities work, including at the decades-long drift toward more powerful university presidents. Reversing this drift, and developing a more democratic model of internal governance, may be a prerequisite not only for rebuilding intellectual community but also for avoiding future campus conflagrations.

Financial War and Economic Peace in Israel-Palestine

The United States has long used economic coercion in hopes of achieving “economic peace” in Israel/Palestine. Yet its vision of economic peace has notably shifted over time. While earlier sanctions punished those who disrupted the Israeli-Palestinian “peace process” or undermined neoliberal dreams of global commercial integration, Biden’s recent sanctions against West Bank settlers aim primarily to secure a peace deal between Israel and Saudi Arabia, relegating Palestinians to observer status.

Imperialism’s Shell Game

While every possible form of pressure should be brought to bear on the Biden administration to cut off the flow of arms to Israel, the prevailing law and policy debate tends to obscure some key aspects of how U.S. imperialism actually works. For the United States does not simply ship arms abroad, it is also the world’s leading arms trafficker, wielding enormous power over how weapons made by other countries circulate throughout the world as an immense collection of commodities.

Constitutional Politics and Dilemmas on the Left

Aziz Rana aims to free us from Constitution worship. An abiding faith in “redemptive” constitutionalism, his new book argues, has long held back liberals, progressives, and even the Left from seriously promoting major change in our structures of government. Yet key left figures and movements have always made canny use of redemptive constitutional narratives and arguments. Rejecting that tradition leaves far too much on the table.

Toward a New Constitutional Politics

Given the manifest flaws of the U.S. Constitution, how did Americans come to idolize this document? Aziz Rana kicks off a symposium on his new book, The Constitutional Bind, by reflecting on the path that led to our current political predicament, and how long-buried Left thinking about state and economy might help us find our way out of it.

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Weekly Roundup: May 10

Jessica Whyte on the history of “economic peace” in Israel/Palestine, and a double dose of David Pozen: on the presidentialization of university governance, and on Aziz Rana’s The Constitutional Bind. Plus, Adam Tooze on endowments and divestment, Jonathan Masur and Eric Posner on the FTC’s noncompete ban, Aziz Rana on. . .

Venerating Constitutional Veneration?

Aziz Rana’s The Constitutional Bind provides a vital resource for appreciating how the American ideology of constitutional reverence was constructed. Yet insofar as Rana blames such an ideology for thwarting essential democratic reform, we might wonder whether this magisterial work ironically gives its subject too much credit — venerating the. . .

Weekly Roundup: May 3, 2024

Darryl Li on the political economy of artillery shells, and Student reflections from the encampments at Columbia, CUNY, NYU and Yale. Plus, a CfP on dollar hegemony, a collection of critical legal work on Gaza, two open letters from law faculty, and new pieces by Adam Tooze on the political economy of Columbia University, David Stein & Ira Regmi on. . .

Weekly Roundup: April 26

Maggie Blackhawk on The Constitutional Bind, Vincent Bevins on a decade of failed protests, and Sandeep Vaheesan and Jonathan Harris on the FTC’s final rule banning non-compete clauses. Plus, new pieces from around the web by Gabriel Winant, Laleh Khalili, Cynthia Estlund & Alan Bogg, Meena Jagannath & Nikki Thanos, Michael Fakhri. . .