Thomas Ferguson
Thomas Ferguson (born July 7, 1949 ) is an American professor of political science at the University of Massachusetts Boston . He received his PhD from Princeton University and writes for The Nation and the Huffington Post . He represents the investment theory of party competition : the economic elite, not the voters, determine politics in democratic countries.
" The real market for political parties is defined by major investors, who generally have good and clear reason for investing to control the state .... Blocs of major investors define the core of political parties and are responsible for most of the signals the party sends to the electorate. "
Ferguson criticizes the procedure during the financial crisis: the actors in the banks were given blank checks for their actions. They could carry on as before and knew that if something went wrong they would be saved. Action should be taken against this moral hazard :
- In a bank bailout, the management would have to be replaced.
- Bankers' bonuses should be based on long-term performance.
Fonts
- "Betting on Hitler - The Value of Political Connections in Nazi Germany," Quarterly Journal of Economics , Feb. 2008
- "The American Wage Structure, 1920-1947," Journal of Financial and Quantitative Analysis , 2004
- "Mixed-Asset Portfolio Composition with Long-Term Holding Periods and Uncertainty," Levy Economics Institute Working Paper No. 249, Sep. 1998
- "The Political Economy of Knowledge and the Changing Politics of the Philosophy of Science". Telos 15 (Spring 1973). New York: Telos Press.
- 1987. Golden Rule: The Investment Theory of Party Competition and the Logic of Money-Driven Politics
- 1986. Right Turn: The Decline of the Democrats and the Future of American Politics with Joel Rogers .
- 1984. The Political Economy: Readings in the Politics and Economics of American Public Policy
Web links
- UMass Boston
- UMass Boston
- Thomas Ferguson's article in The Nation .
- Thomas Ferguson's article in Mother Jones .
- "Money and Power in the 2000 Elections" Thomas Ferguson interview on Democracy Now! , November 07, 2000 (audio and script).
- INET Advisory Board.
- Documentation (English) based on his book Golden Rule: The Investment Theory of Party Competition and the Logic of Money-Driven Political Systems with interviews by Thomas Ferguson, Noam Chomsky and others.
Remarks
- ↑ Thomas Ferguson (1995). Golden Rule: The Investment Theory of Party Competition and the Logic of Money-Driven Political Systems. University of Chicago Press. Pp. 206.22
- ↑ http://www.ftd.de/unternehmen/finanzdienstleister/:neue-denker-24-thomas-ferguson-und-die-lehren-aus-der-lehman-pleite/50166474.html ( Memento from September 14, 2010 in the Internet Archive )
- ↑ http://www.ftd.de/unternehmen/finanzdienstleister/:neue-denker-24-thomas-ferguson-und-die-lehren-aus-der-lehman-pleite/50166474.html ( Memento from September 14, 2010 in the Internet Archive )
| personal data | |
|---|---|
| SURNAME | Ferguson, Thomas |
| BRIEF DESCRIPTION | American political scientist and professor at the University of Massachusetts Boston |
| DATE OF BIRTH | July 7, 1949 |