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Luck, Systematic Luck and Business Power: Lucky All the Way Down or Trying Hard to get What it Wants without Trying?
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- Author(s): Hindmoor, Andrew; McGeechan, Josh
- Source:
Political Studies; Dec2013, Vol. 61 Issue 4, p834-849, 16p- Subject Terms:
- Source:
- Additional Information
- Subject Terms:
- Subject Terms:
- Abstract: Keith Dowding argues that business is systematically lucky in a capitalist society because it often gets what it wants without trying due to the way society is structured. But what ought to count here is not only how society is structured but why it is structured in certain ways and this means grappling with the dynamics of the structure-agency dialectic. Dowding overestimates the degree to which business is systematically lucky and underestimates the degree to which it is powerful because he fails to recognise the way in which business can shape the structures whose existence allows it to get what it wants without trying. We examine the position of two very different groups: British farmers and US bankers. British farmers were systematically lucky in the post-war years in the sense that they benefited from events outside their control. The US banking sector was lucky in 2008 because it was 'too big to fail'. But the banks had previously used their power to shape this outcome. [ABSTRACT FROM AUTHOR]
- Abstract: Copyright of Political Studies is the property of Sage Publications Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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