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Milton Friedman hung up the phone in disgruntlement. The most influential economist of the postwar era had just called three different banks, one in Chicago and then two in New York, in order to initiate a financial transaction. He wanted to sell short $300,000 in pound sterling. Short selling is a technique for speculating on falling prices. Initially, speculators can only speculate on rising prices: they buy something and hope that it gains value, so that they can sell it at a profit. If the price for this asset goes down instead, the speculator incurs a loss when he resells it. So in order to profit from falling prices, speculators need to sell first and buy later – which is indeed possible if what is sold now is in fact only to be delivered a few weeks later. If the speculator is right and prices fall in the interim, he can buy cheap just before delivery is due and thus profit from having already sold what, at the time, he had not yet owned.
The newly emerging historical scholarship on the era ›after the boom‹, on the marketization of societies in the wake of the neoliberal political reforms, deregulation, and privatization starting in the 1970s, has emphasized this threshold as an epochal break that was driven by large-scale structural shifts in the global economy, in social relations, and in cultural identities. This new accentuation of the economic and social transformation has, for good reason, eclipsed older historical traditions that focused on events, discourses, specific interests, and individual actors. The marketization of social relations is thus often considered to be the result of processes beyond the reach and scope of purposeful actors that promoted specific societal changes. While this historical focus is quite right in denying independent causal status to specific agents and the self-aggrandizement of vain leaders and their intellectual entourage, it tends to obscure the historical genesis of ideas and concepts that later became critical components of political leadership, and the specific constellations of interests, knowledge and actors that did prefigure and originally promote the marketization of economic and political institutions.
Marketization is a broad term with a wide range of meanings. It encompasses measures of deregulation and privatization as well as the perceived increase of an ›economic‹ logic in social relationships. For historical purposes, the term should not be narrowly defined, and nor should the concept of marketization be used in an ahistorical manner detached from contemporary usage. However, there are two questions which the historical analysis of marketization needs to address. First, what is the conceptual understanding of the market mechanism to which the term marketization is linked? Second, what is the relationship between marketization and economic theory?
Theory matters. Most historians would probably agree with this postulate, in the sense that theories from disciplines such as sociology, economics or psychology can sharpen historical analyses of any topic (though many of them may prefer quite pragmatic, common-sense approaches in their own empirical studies). But when it comes to a historical understanding of a phenomenon like marketization, theory does remain an analytical resource – and at the same time turns into a multifaceted object of research. The way we think about markets is highly affected by theorists, and not only by their ideas but also by their effectiveness in making them influential over specific periods of time.
The paper explores representations of economic reform in Czechoslovakia immediately before and after the fall of the centrally planned economy in 1989/90. By what means was the concept of rapid economic transition towards a liberal market setting mediated into the academic and the public sphere? How did it achieve wide public consent? In the first part, the paper analyzes the Czechoslovak academic discussion about perestroika in the late 1980s, where a rapid liberal transition was cast by a distinct group of younger scholars as the only possible way of reforming the socialist economy. Their training was based above all on Paul A. Samuelson’s canonical textbook Economics, which presented this discipline almost as a natural science with universal standards. Immediately after 1989/90, when some of these scholars assumed executive positions within the new Czechoslovak government, what were at first purely economic ways of reasoning merged with certain images of the national past, creating a mixture of liberal economic knowledge and national exceptionalism.
As one of the most viewed films on apartheid South Africa, Sir Richard Attenborough’s Oscar-nominated Cry Freedom helped push the atrocities of the apartheid system to the forefront of public attention. The screenplay was based on South African journalist Donald Woods’ autobiographical books Biko (1978) and Asking for Trouble (1981), which detail Woods’ relationship with Biko and the court trial following Biko’s death in police custody.
My main argument here is that the story seen from the perspective of the influential year of 1962 reveals a very different historical context, with a different set of actors and a different trajectory and causalities regarding the human rights breakthrough, from those stories focusing on Western agency in the 1940s and the 1970s. It repositions the history of human rights in significant ways and makes apartheid and racial discrimination more crucial to the human rights story than has hitherto been acknowledged. It is also important to emphasize that the positions and arguments presented by countries from the Global South in these UN debates were richly nuanced. These nuances are important if we are to fully appreciate the dynamics during these years. Tanzania differed significantly from, for instance, Senegal in the way it envisaged the scope and applicability of international human rights law and investigatory measures. Tanzania wanted a sole focus on Southern Africa and not beyond; Senegal had a wider perspective. This should remind us that when we are imagining Africa as a historical-political space, we need to allow for diversity, individual histories and agency, aspects that cannot be adequately captured by labels such as ›The Third World‹, ›Global South‹ or indeed even ›Africa‹.
Music played an important role as a political medium for the anti-apartheid movement, particularly in the 1980s. Drawing on sources from the UK and South Africa, the article investigates the controversy surrounding Paul Simon’s album Graceland (1986) against the backdrop of the cultural boycott against South Africa. The aim of the boycott was to isolate the apartheid regime in the field of culture, but from the middle of the 1980s, the opposition within South Africa increasingly regarded it as an obstacle. The African National Congress (ANC) pursued a modification of the boycott against the resistance of the British Anti-Apartheid Movement (AAM). The controversy over Graceland only served to compound the confusion: opinions differed as to whether Simon had really breached the cultural boycott by collaborating with South African musicians, and on how this could potentially be sanctioned (in either sense of the word). The incident shows that the attempt to control transnational cultural currents through political institutions in times of increased mediatisation was ultimately doomed to failure.
Research on the commons, and its historical enclosure, has largely restricted itself to rural areas and the frontier. This article examines the declining access to Rio de Janeiro’s urban commons, its streets and its squares. Into the nineteenth century, residents perceived Rio’s streets as remnants of nature, left intact to give access to the built environment. The streets served as a diverse human habitat, a place for community, play, work, and commerce. With the arrival of the automobile, Rio’s public spaces began to be transformed into spaces set aside largely for movement. The automotive class, which in Brazil remained a tiny minority, captured most of the streets’ spaces for driving and its squares and sidewalks for parking, in a sense closing the street off to many of its former functions. In fact, automotive movement justified – and its violence enforced – the elimination of street behaviors which the elite had been decrying unsuccessfully for decades. Compared to the developed world, the pace of automobilization in Rio was slow, but it had a profound impact from as early as the second decade of the century.