Visible seeds of socialism and metamorphoses of capitalism: socialism after Rosdolsky

Roman Rosdolsky suggests a method to deal with the transition towards socialism that integrates three issues: 1) the identification of dynamic features of capitalism; 2) the systematization of metamorphoses of capitalism; 3) the evaluation of how these metamorphoses reshape the elaboration of alternatives to capitalism. This evaluation is a precondition for the visualization, within the complex dynamics of capitalism, of seeds of a new society Ð institutions born out of political struggles and of emancipatory features of key social processes. These institutions reshape the nature of the metamorphoses of capitalism Ð and the possibility of establishing socialism and democracy.metamorphoses of capitalism; technology and finance; socialism and democracy.

Inadequacy of technology and innovation systems at the periphery: notes on Celso Furtado's contributions for a dialogue between evolutionists and structuralists

This paper focuses on "inadequacy of technology" as formulated by Celso Furtado. The concept of "inadequacy of technology" may be, on the one hand, an enlightening assessment of the technological condition of underdevelopment and, on the other hand, a helpful "focusing device" for an agenda on innovation systems at the periphery. Furtado's approach on inappropriate technology may uncover the social roots of the well know "low-growth trap" of less-developed economies. Celso Furtado explains how inadequacy of technology is related to the polarization "modernization-marginalization" that characterizes economies with immature systems of innovation, as the Brazilian economy. This concept also highlights how difficult it is to overcome the complex interplay among unequal income distribution, localized and blocked technical progress and unsustainable economic growth. To overcome the inadequacy of technology a dual institutional building seems to be necessary: the innovation systems might co-evolve with welfare systems.Celso Furtado, evolutionary theory, innovation systems, welfare systems, catching up process

Less-developed countries and innovation in health: notes and data about the Brazilian case

This communication discusses the specificity of health innovation in a lessdeveloped country, investigating the Brazilian case. To evaluate the specificity of the Brazilian system, this communication presents data about employment, expenditures, industrial firms in health-related industrial sectors, scientific resources, and diffusion of medical equipment. This communication concludes summarising the main characteristics of the Health Innovation System in Brazil.health; innovation; Brazil

Cross-over, thresholds, and interactions between science and technology: a tentative simplified model and initial notes about statistics from 120 countries

The hypothesis of this paper is the existence of thresholds of scientific production that must be overcome to trigger new channels of interactions between the scientific and technological infrastructure. As the development process evolves, new interactions are initiated. The interactions between science and technology become stronger and more pervasive, reaching at last the mutual feedbacks and the virtuous circles typical of developed economies. Using statistics of patents (USPTO) and scientific papers (ISI) for 120 countries (for 1974, 192, 1990 and 1998), this paper investigates the relationship between the scientific infrastructure and the technological production.science and technology; economic developmentR&D; Brazil

A percolation system with extremely long range connections and node dilution

We study the very long-range bond-percolation problem on a linear chain with both sites and bonds dilution. Very long range means that the probability $p_{ij}$ for a connection between two occupied sites $i,j$ at a distance $r_{ij}$ decays as a power law, i.e. $p_{ij} = \rho/[r_{ij}^\alpha N^{1-\alpha}]$ when $0 \le \alpha < 1$, and $p_{ij} = \rho/[r_{ij} \ln(N)]$ when $\alpha = 1$. Site dilution means that the occupancy probability of a site is $0 < p_s \le 1$. The behavior of this model results from the competition between long-range connectivity, which enhances the percolation, and site dilution, which weakens percolation. The case $\alpha=0$ with $p_s =1$ is well-known, being the exactly solvable mean-field model. The percolation order parameter $P_\infty$ is investigated numerically for different values of $\alpha$, $p_s$ and $\rho$. We show that in the ranges $0 \le \alpha \le 1$ and $0 < p_s \le 1$ the percolation order parameter $P_\infty$ depends only on the average connectivity $\gamma$ of sites, which can be explicitly computed in terms of the three parameters $\alpha$, $p_s$ and $\rho$

Quantifying Private Benefits of Control from a Structural Model of Block Trades

We study the determinants of private benefits of control in negotiated block transactions. We estimate the block pricing model in Burkart, Gromb, and Panunzi (2000) explicitly accounting for both block premia and block discounts in the data. The evidence suggests that the occurrence of a block premium or discount depends on the controlling blockholder’s ability to fight a potential tender offer for the target’s stock. We find evidence of large private benefits of control and of associated deadweight losses, but also of value creation by controlling shareholders. Finally, we provide evidence consistent with Jensen’s free cash flow hypothesis