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What are the effects of Brazilian participatory budgeting? Most studies answer this question using selected case studies. This paper proposes an empirical analysis of the political and fiscal effects of participatory budgeting. Focusing on all the cities that have a population greater than 50000 inhabitants between the years 1989 and 2008 it extends significantly the scope and understanding of previous empirical work. To the contrary of previous anecdotal evidence the results show that participatory budgeting does not alter the composition of public spending and public revenues. However participatory budgeting significantly increases (~9%) the probability of reelection of the party of the mayor. This effect is heightened when focusing on the sample of cities with more than 100000 inhabitants. Most interestingly for smaller cities the positive effect of adopting for the first time PB on the reelection of the mayor is mediated by the victory of the Workers’ Party. When the Workers’ Party doesn’t control the city the effect disappears. For the larger cities we observe the opposite result.
This paper reviews the historical roots of Marx's labor theory of value and some contemporary contributions to the critique of this theory. Modern commentary on Marx's labor theory of value based on dual system of parallel prices and embodied labor coefficients loses sight of the theory's roots in the philosophy of historical materialism and its function as a theory of money. Recently developed empirical single system approaches, including the New Interpretation that identifies the monetary expression of labor time with the ratio of money value added to living productive labor expended in its production, address these problems, and open the possibility of a progressive research program based on Marx's theory.
Curated by jean lievens
Economist, specialized in political economy and peer-to-peer dynamics; core member of the P2P Foundation
Anders en beter
Met P2P voorbij markt en staat: voor een progressieve coalitie rond de commons. Met nieuws over op p2p gebaseerde praktijken en hoe de overheid, de politiek en de zakenwereld ermee (kunnen) omgaan...
money money money
on money and what it is
From the Great White Way to the West-End and beyond
on peer-to-peer dynamics in politics, the economy and organizations
Not TINA (There Is No Alternative) but TAPAS: THERE ARE PLENTY OF ALTERNATIVES