James_O'Connor_(academic)
James O'Connor (academic)
American economist and sociologist
James Richard O'Connor (April 20, 1930 – November 12, 2017)[1] was an American political economist and professor of sociology. He was born April 20, 1930, in Boston, Massachusetts, and died November 12, 2017, in Santa Cruz, California. Together with Barbara Laurence he founded the journal Capitalism Nature Socialism in 1988.[2]
He had two sons, Steven and Daniel O'Connor.[3]
O’Connor’s influential work, The Fiscal Crisis of the State examines the tendency of government expenditures to outpace revenues in the United States during the late 1960s and early 1970s. [4] However, its relevance extends beyond the U.S. context, as it sheds light on similar challenges faced by other countries during that period and even in today’s global economy. [5]
Here are some key points from O’Connor’s analysis: 1. Anatomy of American State Capitalism: O’Connor delves into the structure of American state capitalism, exploring how political power and budgetary control operate within the United States.[6] 2. Social Capital Expenditures: He discusses social investment and social consumption, emphasizing that understanding government expenditures requires considering power dynamics within the private economy.[7] 3. Social Expenses of Production: O’Connor argues that the state increasingly socializes the expenses of production over time. [8] 4. Financing the Budget: The book explores various potential mechanisms for financing increased budgetary outlays, including state enterprises, state debt issuance, and tax rate adjustments. [9]
O'Connor's analysis remains relevant for understanding contemporary social policy and economic systems.[10]
Subsequent works sought to further explore the themes of social and psychological crisis. [11][12]
