One of the critical issues heterodox economists around the world are facing these days is the research assessment exercise. Although it is a hard nut to crack given the hegemony of mainstream economics, we have to deal with this issue since it is the matter of survival and reproduction of heterodox economics. The Newsletter commented on the research assessment exercise several times in the past (for example, see Issue 65 and Issue 102); also AJES published a special issue on ''Evaluating Economic Research in a Contested Discipline'' (2010); On the Horizon published a special issue on ''Publishing, Refereeing, Rankings, and the Future of Heterodox Economics'' (2008). Now Cambridge Journal of Economics has just published an article, “The UK Research Assessment Exercise and the Narrowing of UK Economics”, written by Frederic S. Lee, Xuan Pham and Gyun Gu. For more details about this article and press release, please go to our special section in this issue of the Newsletter.
This broader issue of systemic bias against heterodox economics relates to our discussion in the last issue of HEN on the need to support Heterodox journals. In response to our call for support for Monthly Review and ‘relatively’ new heterodox journals, we received a note from Paul Davidson who indicated that this is a growing issue for many heterodox journals, as many journals (including the JPKE), have experienced declining library subscriptions. In fact, in a response to Steve Keen’s recent post “The Neoclassical Conspiracy Against Post Keynesian Economics” (from the Real-World Economics Review Blog), professor Davidson posted a related response that takes a stronger position and suggests that, “Professors and members of research institutions are therefore co-conspirators if they have not checked to see if their institutional libraries have not continued to subscribe, or do not subscribe, to the JOURNAL OF POST KEYNESIAN ECONOMICS [and, of course, all heterodox journals].’’
Despite Keen’s recent series on the “self destruction of neoclassical economics,” it’s clear from Lee, Pham, and Gu’s research that this battle is far from over, and we will be guilty of conspiring if we don’t do our part to support heterodox journals by--at the very least--encouraging library subscriptions.
Lastly, over the past few weeks there were a series of major heterodox economics conferences: the 1st World Keynes Conference (June 26-29, Izmir, Turkey); the 3rd Congress of the French Association of Political Economy (July 3-5, Bordeaux, France); the 15th Association for Heterodox Economics Conference (July 4-6, London, UK); and the 4th IIPPE Annual Conference (July 9-11, 2013, The Hague, Netherlands). It would be a nice and long trip if one could manage attending all of those conferences. Not to mention, they all seemed very successful according to reports provided by organizers/participants (see the conference reports here). We'd like to remind readers (especially, conference organizers) that the Newsletter includes a section on conference reports. Please do send us conference reports as they would improve the publicity of your association as well as inform others about most current works done by heterodox economists.
Tae-Hee Jo and Ted P. Schmidt, Editors
© Heterodox Economics Newsletter. Since 2004. Founding Editor: Frederic S. Lee. Current Editors: Tae-Hee Jo and Ted P. Schmidt (SUNY Buffalo State). Book Review Editor: Fadhel Kaboub. The Newsletter may be freely redistributed in whole or in part. Web: heterodoxnews.com Email: email@example.com
Table of Contents
Special Section: Research Assessment Exercise and Heterodox Economics
Call for Papers
Conference Jornadas de Economía Crítica 2013
Critical Thinking II Latin American Conference
Global Dynamics Research Cluster, Roskilde University Inaugural Workshop
Institute for New Economic Thinking (INET) Young Scholars Seminar
International Seminar on Methodology and Critical Thought in Economics: A Post-Keynesian Point of View
Labor and Working-Class History Seminar
The Ninth Forum of the World Association for Political Economy
Reconstructing a Full Employment Narrative
Call for Participants
Center for Popular Economics 2013 Summer Institute
Economic Policy Institute “Unfinished March” Symposium
Green Economics Conference 2013 Conference
HM Australasia Conference 2013
International Seminar Workshop: Transparency and Market Power Abuse
International Symposium on the History of Economics
Leeds University Business School Economics Research Seminar
Political Economy of the Environment
Job Postings for Heterodox Economists
ECLA of Bard College, Germany
Hampshire College, US
Sarah Lawrence College, US
Conference Papers, Reports, and Podcasts
The 1st World Keynes Conference Report
The 3rd French Association of Political Economy Conference Report
The 15th Association for Heterodox Economics Conference Report
BBC Show on the Physiocrats
John King's Keith Hancock Lecture
Agrarian South: Journal of Political Economy, 2(1): April 2013
American Journal of Economics and Sociology, 72(3): July 2013
Cambridge Journal of Economics, 37(3): May 2013 (free access)
Cambridge Journal of Economics, 37(4): July 2013
Capital & Class, 37(2): June 2013
Circus: Revista Argentina de Economía, Año 3, Otoño de 2013
Economic and Labour Relations Review, 24(2): June 2013
Historical Materialism, 21(1): 2013
International Critical Thought, 3(2): June 2013
International Journal of Pluralism and Economics Education, 4(1): 2013
Journal of Economic Methodology, 20(2): June 2013
Ola Financiera, Número 15: Mayo - Agosto 2013
Rethinking Marxism, 25(3): July 2013
Real-World Economics Review, 64: July 2013
Review of Political Economy, 25(3): July 2013
Review of Political Economy: Celebrate 25 Years of ROPE
Revista de Economía Crítica, 15, primer semestre 2013
Revue de la régulation, 13: Spring 2013
Work, employment and society, 27(3): June 2013
Working USA: The Journal of Labor and Society, 16(2): June 2013
Routledge Great Economists Series
Economic Sociology Newsletter, 14(3): July 2013
Newsletter dell'Associzione Paolo Sylos Labini
WEA Newsletter, 3(3): June 2013
Heterodox Books and Book Series
An Encyclopedia of Keynesian Economics, 2nd Edition
Beyond the Developmental State: Industrial Policy into the Twenty-first Century
The Debt Crisis and European Democratic Legitimacy
The Elgar Companion to Recent Economic Methodology
Financialization: The Economics of Finance Capital Domination
Government Failure: Society, Markets and Rules
Marx and Living Labour
Michal Kalecki: An Intellectual Biography: Volume I Rendezvous in Cambridge 1899-1939
Outsourcing Economics: Global Value Chains in Capitalist Development
A Political Economy of Contemporary Capitalism and its Crisis: Demystifying Finance
Skills and Skilled Work: An Economic and Social Analysis
The Economy of Recognition: Person, Market and Society in Antonio Rosmini
Green Economics Institute Books
Heterodox Book Reviews
John Maynard Keynes
Reforming the World Monetary System: Fritz Machlup and the Bellagio Group
Ph.D Dissertations in Heterodox Economics
Determining the LIBOR: A Study of Power and Deception
The Historical Transformation of Indigenous and Colonial Institutions of Central Mexico: The State and Monetary Systems
Heterodox Graduate Programs, Scholarships, and Grants
G.L.S. Shackle Studentship, St. Edmond’s College, University of Cambridge, UK
MSc Global Economy and Business Institutions, Hertfordshire Business School, University of Hertfordshire, UK
Tallinn University of Technology, Estonia
Heterodox Economics in the Media
Richard Wolff: How capitalism's great relocation pauperised America's 'middle class'
Steve Keen’s three-part series on the self-destruction of neoclassical economic theory
Queries from Heterodox Economists
Alfred Sohn-Rethel’s Selected Works
Iraqi agriculture relative to US policy in the Middle East
Call for Support
Journal of Post Keynesian Economics
Petition to Raise US Minimum Wage
For Your Information
New Economics Foundation
World Economic Association National Chapter Network
Cambridge Journal of Economics (Vol. 27, No. 4) has just published an article, “The UK Research Assessment Exercise and the Narrowing of UK Economics”, written by Frederic S. Lee, Xuan Pham and Gyun Gu (free access link to the article: Abstract | Full Text | PDF and link to Appendix to the Article).
In summary, the paper “delineates[s] an empirically grounded, structure-causal going concern recursive model of UK economics that, in the context of the Research Assessment Exercise (RAE) and local department decision making, explains the progressive elimination of heterodox economics, the progressive homogenisation of mainstream economics from 1992 to the present and the continued rise to dominance of a select group of departments, and indicates whether these events will continue under the Research Excellence Framework selectivity exercise in 2014.”
The CJE asked Oxford University Press to send out a press release about the article.
In response to the press release Adam Smith at Research Fortnight wrote the following commentary:
And Times Higher Education also commented:
Frederic Lee, the corresponding author of the article, suggests that:
Those of you who have journalistic capabilities, you might want to send a letter to the editor of the THES and The Guardian and perhaps even The Economist commenting on the article. Of course there is the social network stuff to exploit. The point is that heterodox economists in the UK as well as the AHE and CSE might want to take advantage of the article to create something of a stir that might affect how the REF is carried out in terms of evaluating heterodox submissions. If you have any questions/comments, please e-mail me (firstname.lastname@example.org).
Although the paper focuses on the UK, a similar exercise has been taking place around the world--for example, the New Learning Standards Framework in Australia (see here for more information). As the authors of the article anticipate, their work can be used as an empirical basis of the argument challenging (and hopefully transforming) ongoing research assessment exercises dominated by mainstream economics.
For those who are not familiar to the Research Assessment Exercise (RAE)/Research Excellence Framework (RFE), we’d refer readers to the Association for Heterodox Economics webpage.
29-31 August, 2013 | Mendoza, Argentina
Since the organization of the Conference on Critical Economy (JEC) we are pleased to share with you. developments relating to the sixth edition of the conference, to be held on 29, 30 and August 31, 2013 at the Faculty of Economics of the National University of Cuyo (UNCuyo), Mendoza, Argentina.
On this occasion, we want to communicate that are already defined central tables involving discussion of various / as panelists / as (yet to be confirmed). These are:
We remind you that the deadline for submission of full papers is Friday, July 26 and that they should be sent as an attachment to e email@example.com. It is important to comply with the formal requirements for detailed presentation on this link.
It is important to note that the final version of the work may not exceed 30 pages. In turn, and unless / as author / s of each work request in advance otherwise, those will be published on CD and a version available "online" on the official blog of the conference. The latter aims to advance the systematization and dissemination of knowledge production from a critical perspective of political economy and other social sciences to advance basic task the way we have set collectively move.
We remind you that we continue to accept accession to the JEC VI towards strengthening and supporting this space of open discussion, open, multidisciplinary and pluralist seeks to contribute to the opening of new horizons and ways of political economy and its critique.
All available information will be posted on: jornadaseconomiacritica.blogspot.com
For any question or suggestion write to: firstname.lastname@example.org
The Sixth Conference of Economics Review is organized by the Society of Critical Economy (SEC), which are part: School of Economics, UNLP (ESEP-UNLP), School of Economics, UBA (ESEP-UBA), Political Economy Network of Rosario (UNR), Area of Economic Critique of Uruguay (UdelaR), Collective Thinking in Economics from UNC (CoPenCE!-UNC) School of Critical Thinking UNQ (EPEC-UNQ) Critical Economy Group UNLa (GEC-UNLa), Collective UNCuyo Critique of Economics (codec-UNCuyo) , Santa Fe Regional of the JEC (UNL), JEC CEISO-Regional Bahía Blanca (UNS).
29-31 de octubre de 2013 | Río Cuarto, Córdoba, Argentina | website
Capitalism in the New Century: The current world disorder
[For Spanish version of CfP, go to: http://jornadaspensamientocritico.blogspot.com.ar/]
On days 29, 30 and 31 will be held the annual meeting of the American Society of Political Economy, SEPLA, this time in conjunction with the International Seminar on World Economy Network (REDEM). The meeting will be held at the University National Río Cuarto, Córdoba, Argentina. In the same include representatives from Argentina, Bolivia, Brazil, Chile, Colombia, Cuba, Mexico, Peru and Uruguay.
With the title Capitalism in the New Century: The current world disorder , the meeting will address the main issues that concern today to debate global political economy. With special emphasis on a look from Nuestramérica.
Continuing and strengthening the spaces created under the REDEM and SEPLA this meeting seeks to expand the discussion of political economy involving different intellectuals and leaders of the Americas involved in the creation of Critical Thinking.
The current global crisis still presents the implications of the process of capital accumulation. Their forms and consequences interpellate popular movements and alternative projects. In the various forums of the world to discuss how restore the rate of profit on a global scale and what modifications in the State, political economy and social relations should be carried out to guarantee the process of accumulation. But have developed and consolidated regional challenges and popular alternative proposals in response to the global crisis.
In this context, the seminar REDEM - SEPLA is presented as an instance to reflect and discuss the following topics:
1. Crisis Global: Crisis of Capitalism
This module seeks to call into question the situation, levels and perspectives of the new phases of the current capitalist crisis, attending not only to its most recent manifestations or circumstantial, but seeking to deepen structural-historical vision in the creation of its causes and triggers.
Donadoni Monica email@example.com
Castells Patricio firstname.lastname@example.org
2. Disorder Eco systemic and the Problem of the Commons
This module intends to submit for discussion the scope and impact in the order of the current eco-systemic organizational development of capitalist production and its future prospects. Likewise, the expansion process of commodification of the commons and its impact on the growing trend for capital appropriation concentrate.
Gisela Barrionuevo email@example.com
Schifani, Victor Javier firstname.lastname@example.org
3. Capitalism Clandestino: Illegal Practices and Logics of Capitalism
This module seeks to focus the debate on crime or criminal dimension in the process of capital accumulation and production. Focused on those activities that are illegal in the superstructure defined national and international law, but that assume a huge dimension parallel financing processes "activities in white or bleached" ending fueling a process of accumulation "legitimate" but that relies on direct operating processes and deadly.
Elena Cagnolo email@example.com
Maria Cecilia Morlihere firstname.lastname@example.org
4. Theory, Political Economy and Critical Thinking
This module is expected to discuss the conceptual and practical link between categories that, in light of a critical, defined cognitive domains and experience, often divergent, but in the process of academic training and professional socialization have been more ideological exclusion that one epistemic others.
Analia Emiliozzi email@example.com
Juan Ivars firstname.lastname@example.org
5. Relations Capital - Labour and "World of Work"
This module is intended to call into question how they evolved and what meaning nowadays take the capital-labor ratio, in order to understand the logic of the current process of accumulation and dispossession in productivity. How it has been modified since the 90's to date and what meaning has today to understand the processes of concentration of wealth and income.
Rebeca Raquel Camano email@example.com
Vassallo Battaglino Luciana firstname.lastname@example.org
6. Financial Institutions in Latin America and the World
This module aims to put in discussion the scope and consequences of the processes of financialization of capital, its role in the recent crisis, the instruments encountered in the formation of "toxic financial assets", its impact on the real economy and the social product virtualization of the economy.
Javier Milanesio email@example.com
Muller Baiguera Mariano firstname.lastname@example.org
7. Extractivism and Model Production and Development
This module seeks to put in discussion the recent experiences in the region of neo-developmental character and attend what is the very model of organization of production that same lead them. To assess whether high support extractive activities beyond its environmental impact, have consequences of a new covert process primarization economies with circumstantial income of the joint product, or if, on the contrary, assume a real stake and commissioning discussion of a true alternative to the capitalist organization of production.
Diego Tello email@example.com
Alvaro Robledo firstname.lastname@example.org
8. Geopolitics and International Relations
This module seeks to focus the debate on the new conception of geopolitics in the light of the new positions of economic and strategic power in the world order. The processes of the end of bipolarity, an imperial power but not economic flanking military by the United States, the rise of multi-center power, leading to assess what role assumes Latin America this changing, unstable and risky.
Adriana Vagnola email@example.com
Sure Pisani Nicolle firstname.lastname@example.org
9. Processes of Regional Integration
This module is expected to discuss the different experience in the context of regional integration, in its various aspects and levels. While helping to understand what are the possible ways depending on the changes occurring in the international geopolitical emanciapatorias expectations at national
Adriana De Yong email@example.com
Camila Cabral firstname.lastname@example.org
10 . Hegemony and State
This module aims to integrate articulated political dimension to the current crisis of capitalism. To what extent the rule is configured as a legitimate political actor asymmetric resolution of national crises, providing those responsible rescue more than their victims. To what extent, in the case of the region, the reappearance of the state guarantees a progressive process of social inclusion with autonomy, not to subordinate inclusion, and how political regimes since the State can reach accompany the logic of capital to its logical conclusion, repression and authoritarian solutions.
John Testa email@example.com
Budini Lucia firstname.lastname@example.org
11. Challenges and Popular Resistance
This module is intended to call into question the various stages and processes constestatarios both the consequences of the crisis as well as apparent applications strategies for resolution. How will reveal these challenges with different characteristics, but with a firm decision to interpellation against regressive practices alleged liberalism either. What is the response to them: criminalization of social protest and anti-terrorism laws.
Fernando Gabriel Carini email@example.com
Agustina Grangetto firstname.lastname@example.org
SUBMISSION OF ABSTRACTS
Abstracts should be proposed in the module or subject for the email of the days: email@example.com. For brevity, the coordinators of the respective modules will be contacted via email with the authors to report the acceptance of work and coordinating final delivery of the papers.
Abstracts and papers will be accepted in Castilian and Portuguese language interchangeably. However, for the purposes of preparing the reports of the conference will be asked to researchers who submit papers in Portuguese title and definitive summary in both languages.
For the exhibition there will be 20 minutes and the assistance of a computer and video beam (projector). If the presentation was in a different format to PowerPoint, please notify us prior to the Coordinators, in order to reconcile the software. The dynamic of the exhibits will be the following: after the submission of work per module will be a round of questions and discussion coordinated by the moderator module.
Publication of the Proceedings: Accepted papers will be included in an original publication with ISBN.
Additional information on the blog of the conference.
Registration and participation in the seminar is free. Certificates of attendance will be given only to those who are formally enrolled in the Days before the start of the same, through the link at the blog.
7 November 2013 | Roskilde University, Denmark
Structural Adjustment comes to Europe
The aim of this workshop is to analyse the ongoing developments in Europe against a background of previous structural adjustment rounds in Africa, Latin America and Asia. In the context of the Eurozone crisis, severe structural adjustment processes are taking place in a number of Member States. The current economic, political and social ruptures in the European Union are individual crises in EU Member States, as well as collective crises of the Eurozone. This raises several questions in relation to the future of the EU, most notably what kind of EU is emerging as a consequence of these crises. Crucially, these developments should also be seen in the historical context of changing patterns and power relations in the global political economy.
A core objective of the workshop is also to discuss whether structural adjustment is a fruitful concept to understand the current developments in Europe and the Eurozone, and what the analytical, methodological and political implications of employing such a conceptual lens are. The research cluster on Structural Adjustment comes to Europe, part of the wider Global Dynamics research initiative at Roskilde University, is inviting contributions focusing on these issues. The workshop will be focusing on the economic and political dimensions of structural adjustment, both with regard to current developments in Europe, as well as in historical comparison with structural adjustment in a development context. The research cluster seeks to provide an interdisciplinary platform to bring together researchers working in a wide range of fields, including Development Studies, EU Studies, Political Economy, Sociology and Political Science.
Some of the core questions to be discussed at the workshop are e.g.
This one-day workshop will take place at Roskilde University (Denmark) on Thursday 7 November 2013. Abstract submissions should include a short outline of current research, as well as how this addresses the workshop theme. Travel and accommodation costs for the speakers will be covered. We are delighted to announce that Frances Stewart (Oxford) will be keynote speaker at this event!
Deadline for submissions is 30 August 2013.
For abstract submission and any further information, please email Laura Horn (firstname.lastname@example.org).
The INET YSI Paris Chapter is organising a bi-monthly young scholars seminar, in which young scholars are invited to present and discuss their work with senior scholars and other young scholars involved in their field. Each bi-monthly seminar is centred on a common theme or approach, on which different and possibly opposing viewpoints are presented and debated.
To present a paper at the young scholars seminar, please send us an abstract of about 400 words of your paper proposal, pointing out the subject area and topic, your particular method or approach, and why you believe this to be relevant for new economic thinking, before September 15th. The present call for participants concerns seminars to be held during the 2013-2014 academic year. Contributions will undergo a selection process and an agenda of seminars will be established with the selected participants grouped by general topics. Provisionally, the seminar will be held in mid-October, December, February and April. Please inform us when you send your proposal of your known periods of absence from (and presence in) Paris during the year (we will get in touch with you to establish the final agenda).
What is INET?
The Institute for New Economic Thinking is a foundation created in 2009 by a diverse group of economic thinkers, with an initial endowment by George Soros. At the basis of INET’s founding—in the wake of the 2008 global financial crisis and the failure by leading economic theory to predict and help prevent it—is the common realisation that much work in economics no longer reflects the real world, mathematics having become a dominating language of the discipline rather than an illuminating tool, and the study of economics having been manipulated by the marketplace. INET’s founders unanimously agreed on the need for a change of paradigm in economic thinking, in which the young generation of economists must be empowered to take an active part. INET provides grants and endowments to support innovative research in economics, whereby priority is given to research that is difficult to be carried out through traditional academic channels. The institute organises regular international conferences for its grantees to meet and exchange, and seminars directed at young scholars and the wider public. Through its own and associated websites and blogs, INET disseminates founded research and activities and furthers exchange among scholars around the world interested in the themes and programs the institute is engaged in.
What is YSI?
In its effort to reach out to young scholars worldwide, INET created the Young Scholars Initiative, whereby INET provides financial assistance to young scholars for attendance of its events and the organisation of local and web-based activities through the YSI reading groups and chapters. The YSI reading groups are topical in character and span around the world (meetings are held online via webcam and VOIP/telephone). The YSI chapters are general in character and locally based. Chapters organise events that are platforms of interaction for established and aspiring new economic thinkers and form a bridge between local young scholars and the global YSI and INET community.
INET YSI Paris Chapter activities
Besides the young scholars seminar, the YSI Paris Chapter is currently organising a workshop, under the wider patronage of INET and the University of Paris Panthéon Sorbonne, to be held in January and comprising interactive lectures and presentations on a selected topic by both senior academics and young scholars. Furthermore, members of the Paris Chapter are invited to join forces every two weeks for an evening “beer seminar” to discuss challenges and advances in new economic thinking and current economic issues. YSI and INET activities worldwide are relayed by the Chapter and participation encouraged and facilitated. Online activities of the YSI community can be taken part in collectively by the members of the Paris Chapter, meeting locally and making use of INET internet technology.
How to get involved?
To participate in the young scholars seminar, if you would like to join the Paris Chapter, or if you just need more information, please send us an email at email@example.com. You can find INET YSI on Facebook, at facebook.com/groups/ysicommons, and the INET website at ineteconomics.org.
October 23rd, 2013 | Faculty of Economics and Social Sciences, La Salle University, Bogota, Colombia
2013 International Seminar on methodology and critical thought in economics will be hosted by La Salle University in Bogotá on October 23rd, 2013. The main objective of the seminar is to provide a platform for researchers, government advisors and NGO to present their work on economic crises from a Post-Keynesian point of view.
We would like to invite, professors, students and professionals to submit papers, which are related with the following topics:
The paper must have a maximum extension of 6.000 words, using 12 point-sized Times New Roman font, simple space between lines, letter sized paper with 2.5 cm margins and APA style citation.
2013-14 Academic Year | Hunter College, CUNY
The Labor and Working-Class History Seminar at Roosevelt House, Hunter College, City University of New York seeks proposals for seminar papers that explore the rich and diverse spectrum of labor history and working-class life. Essays may focus on workers’ agency, culture, and lived experiences; class dynamics as informed by other social categories and identities; changes in political economy and their effects on workers’ lives; the expansion and reduction of governmental policies promoting economic security and other forms of social welfare; and other related topics.
The Labor and Working-Class History Seminar will be an on-going colloquium for a broad academic audience, including graduate students, faculty members, and independent scholars. We will meet at the historic Roosevelt House twice a semester during the 2013–2014 academic year, on selected Tuesdays from 6:00–8:00 p.m. At each meeting, an invited presenter will offer an overview of a scholarly work, pre-circulated electronically to all participants, and a commentator will provide constructive feedback. The exchange between the presenter and commentator will be followed by a discussion among all seminar attendees.
The Labor and Working-Class History seminar, while focused on history, welcomes scholars from a wide range of disciplines, including human rights studies, public policy studies, sociology, anthropology, literature, law, and environmental studies. We encourage cross-disciplinary discussion, and invite proposals from diverse subject areas and approaches.
Interested scholars who would like to present a portion of their current research on labor and/or class should submit a one page abstract and a brief cv to: Donna Haverty-Stacke and Eduardo Contreras at firstname.lastname@example.org by August 1, 2013. Decisions will be communicated by September 1, 2013 to all those who have submitted abstracts.
We have a limited fund to support regional travel but are unable to provide funding for long-distance travel or lodging. If you would like to be placed on the email list to receive announcements of upcoming presentations, please write to: email@example.com.
May 23-25, 2014 | Vietnamese Academy of Social Sciences, Hanoi, Vietnam
Growth, Development and Social Justice
The 8th forum of the World Association for Political Economy (WAPE) was successfully held in Florianopolis, Brazil on May 24-26, 2013. About 100 participants from 18 countries attended this forum. Ninety three papers or abstracts were submitted. Theotonio dos Santos (Brazil) and Wei Xinhua (China) were granted the Marxian Economics Award, and nine professors from USA, UK, France, China, Japan, Brazil, and Vietnam were granted the Distinguished Achievement Award of World Political Economy of the 21st Century. A Statement on “Inequalities and World Capitalism: Analysis, Policy and Action” was released at the closing ceremony of the forum.
The 9th WAPE Forum “Growth, Development and Social Justice” will be held at Vietnamese Academy of Social Sciences, Hanoi, Vietnam on May 23-25, 2014.
Topics to propose
You are welcome to propose topics on the theme “Growth, Development and Social Justice” and all other topics related to Marxist political economy before June 30, 2013. Please email your proposals to firstname.lastname@example.org.
How to apply to attend the 9th WAPE Forum
Please register at www.wapeweb.org with your personal information, upload one of your photos, and submit your full curriculum vitae and a paper abstract of 500 words in English. Once your abstract is accepted, please pay your registration fee online. When your payment is confirmed, please submit your full paper. You will then receive an official invitation. You also have the option to apply to attend the forum without a paper.
Both individual papers and complete panels on the theme and proposed topics are welcome.
Full papers submitted after March 31, 2014 will not be included in the conference proceedings.
All accepted papers will be considered for publication in World Review of Political Economy.
Official Language: English
What is the benefit of joining WAPE?
While applying to attend the 9th WAPE forum, you have the option to join WAPE. It is highly recommended that you choose to join WAPE. Please find below the details on WAPE membership.
WAPE has decided to develop itself as a membership organization in order to facilitate the exchange of knowledge, new thought and research across the divide of language and geography, and offer its members access to certain benefits. These include:
The general membership fee of WAPE is only US$30 per year, and the membership fee including a hard copy of WRPE is US$100 per year. Membership taken out in 2013 has the added benefit of members receiving eight digital issues of WRPE Volumes 3 and 4.
Marxian economists from all over the world are welcome to attend the forum whether or not they will present a paper. The WAPE Forums aim to encourage cooperation among Marxian economists and to enlarge and strengthen the influence of Marxian economics in the world.
4th-5th December 2013 | University of Newcastle, Australia.
Incorporating the 14th Path to Full Employment and 19th National Conference on Unemployment
The deadline for all abstracts: Friday 26th July, 2013.
Papers in any area of labour market analysis will be of interest, particularly in the following research and policy areas:
Submissions can be made to both the Refereed (peer reviewed) and Non-Refereed streams. Refereed papers will be included in a volume of conference proceedings (which will constitute a refereed conference paper under Australian government rules).
Guidelines for Submission:
And … Don’t forget to register!
Registration is now open. Get in early and secure you early bird discount rate which expires on 31st October 2013.
Early Bird Rate: $340 (save $50 on standard registration rate which applies after 31st October 2013)
Concession: $260 (this applies to full time students, the unemployed or government pensioners only)
1 Day Rate: $250
1 Day Concession: $200
Please note that the Early Bird, Standard and Full Concession rates include the conference dinner.
Register online here.
For more information about the conference, please visit our conference website. For all Conference Correspondence (including submission of abstracts and papers) please use the University of Newcastle contact details.
Melinda Hannan, Administrative Officer: email@example.com.
We hope to see you in Newcastle in December.
The CofFEE Team
Centre of Full Employment and Equity (CofFEE)
University of Newcastle, Australia
The Care Economy: Building a Just Economy with a Heart
August 4-10 | Hampshire College, Amherst, MA | website
Co-sponsored by: Civil Liberties & Public Policy, Caring Across Generations and Center for Women's Global Leadership
Each year, we choose an issue area that we focus on in the workshops and plenary sessions as well as in the core classrooms. This year we will explore the Care Economy. Care work such as child rearing, elder care, cooking, cleaning and is essential to the health and well being of our society and economy. In the U.S. we undervalue and under invest in care provision. Our Care Economy special track will provide activists with strategic and analytical tools to articulate and organize for investment in the care economy.
Click this link for the Online SI2013 Registration form. Or if you would prefer to fill out a hard copy, you can download the form at this link: SI2013 Registration Form
Monday, July 22, 2013 from 4:30 PM to 7:30 PM (EDT) | Washington, DC
This event is free and open to the public. RSVP is required. For more information, contact Arlene Williams at 202-331-5549 or firstname.lastname@example.org.
Economics of Survivability, Sustainability & Resilience
18-20 July, 2013 | Worcester College, Oxford University, UK
In this environment of economic disaster, corruption and mismanagement, combined with global and Europe wide food policies, we need to reclaim a sense of sanity in our supply chains. Biodiversity is lost, cruelty is endemic in the food chain and safety and health issues are completely lost in the current agribusiness disaster. Let's reclaim the economy with a much more humane, local centred, safe and healthy production which is better for people, nature, other species and the planet as well as much more cost effective and useful. It is time to take back control from the globalised mess to a more productive, extensive, benevolent and up-to-date caring and sharing food production and distribution -kinder to people, nature, biodiversity, other species and not least our pockets. Make no mistake, we are paying hugely for the current mess in all kinds of ways! Let's get change moving ! Let's get checks and balances back in! Let's eat right to get fitter for our own well being!
Land use is a real problem for climate change and biodiversity. Many people still have nowhere to live, many people in the UK today are relying on food banks in the Prime Minister's own area. Is this an economy of the 21st century we can be proud of? No – its a shameful disaster and is replicated in many countries! It is time to sort this mess out all over the world! What we grow reflects who we are ! Let's not grow more concrete- let's grow living biodiversity, let's grow innovation! Let's grow sharing and caring in our economy! Sharing the commons between us, the rest of humanity and also nature and other species. Let's start living within the bounds of nature.
This conference explores the very latest thinking in global change , social and environmental justice, bringing people together, thinking outside the box, developing ideas. Create policy change for the global economy and local communities.
Registration information, speaker lists, etc. can be found here.
A draft programme for the Historical Materialism conference in Sydney (26-27 July) can now be seen here.
Please register online here.
July 30th to August 2nd 2013 | Quito, Ecuador
The Superintendency for Market Power Control, with the intention of encouraging debate on the field of economics and discussing issues related to the regulation of the market; is organizing the International Seminar Workshop: “Transparency and Market Power Abuse” scheduled from July 30th to August 2nd 2013, in Quito-Ecuador.
The main objective of this event is to develop capabilities for people related to economics, law, taxing, accounting, banking and whoever interested in topics such as:
Under this context, I am glad to invite you to participate on the development of this event. Your presence will enrich the occasion.
To register for this event email: email@example.com
5-6 August, 2013 | University of São Paulo, Brazil
Macroeconomic Dynamics in Historical Perspective
The Department of Economics at the University of São Paulo, Brazil, is pleased to organize the second edition of its International Symposium on the History of Economics (ISHET), which is open and free to anyone who wishes to attend it (online registration required), which will take place in São Paulo in the period of 5-6 August 2013. The symposium theme for this year is Macroeconomic Dynamics in Historical Perspective.
This event aims to bring together renowned international and local scholars in the field of history of economics to discuss important aspects of the development of macroeconomic dynamics especially in the period after World War II.
The program, participants, and other details about this event are available at this website.
Pedro Garcia Duarte and Gilberto Tadeu Lima (organizers)
Department of Economics
University of São Paulo
Tuesday, 16th July 2013, 4-6pm | Clothworkers North Building LT (Cinema) (2.31), University of Leeds, UK
Professor Martin Watts (The University of Newcastle Australia): “Why hasn't Post Keynesian Economics embraced the Principles of Modern Monetary Theory?”
October 5, 2013 / St. Francis College, Brooklyn, NY
A Conference of the Union for Radical Political Economics (URPE)
You are invited to participate in a discussion of the political economy of the environment.
We are living in a period of increasing environmental damage and growing inequalities within and between the countries of the world. The obstacles to sustainable development and the equitable distribution of the products of our labor lie in the ways in which our political economic system operates. The necessary technology is already available, and the resources required to end the use of fossil fuels, for example, are small compared to the destruction it is causing. But multinational corporations, and the governments they control, base their decisions on how to maximize profits, not the well-being of the world’s people. Understanding capitalism is therefore essential for the building of local, national and international environmental movements.
The goal of this conference is both to clarify areas of agreement and to promote friendly discussion of disagreements. Thus the plenaries and workshops of the conference will address questions such as the following:
If you would like to make a workshop presentation on these or other issues, contact the URPE national Office at firstname.lastname@example.org. And for updates on the conference program in the coming weeks, visit our website: www.urpe.org.
Professorship in Economics
ECLA of Bard, a Liberal Arts University in Berlin which is also part of Bard College New York, invites applications for a Professorship in Economics. The successful candidate will be responsible for an economics component within an interdisciplinary liberal arts BA programme to begin in August 2014.
The purpose of the BA degree is to educate informed citizens capable of engaging critically with disciplinary debates and policy issues, and of becoming leaders in entrepreneurial, community and governmental initiatives.
The teaching load is 8SWS (2 courses per semester). The language of instruction is English. An initial contract will extend for four years (equivalent German W2 salary scale).
Appointment requirements are governed by §100 of the Berlin University Law (Berliner Hochschulgesetz). Applicants should have a PhD degree, an excellent international track record in teaching and research, an interest in liberal arts education and in interdisciplinary dialogue beyond their fields of specialization. Applications should include a motivation letter, a CV including list of publications and teaching record, a brief statement on teaching philosophy and practice, a statement on current and future research interests, and 3 publications.
Please send your electronic application in pdf format no later than 15 September 2013 to the following email address: email@example.com
For further information please see www.ecla.de or contact the chair of the search committee, Prof. Dr. Catherine Toal (firstname.lastname@example.org). ECLA of Bard is an equal opportunity employer.
Hampshire College is seeking an instructor to teach one section of Introduction to Economics in Fall 2013. At Hampshire, the Intro class is a 200-level course covering basic microeconomics and macroeconomics, with a political economy orientation. The course description is fixed (see below) but the instructor is invited to be creative with content and teaching methods within these guidelines. Syllabi and class materials from past semesters are available. The course will meet Tuesdays and Thursdays (Sept 5 - Dec 10) from 12:30-1:50. Compensation is $6500.
To apply, please send evidence of teaching effectiveness and contact info for one reference to Helen Scharber (email@example.com).
Introduction to Economics: This course will provide an introduction to economics from a political economy perspective. We will examine the historical evolution and structure of the capitalist system, distinguishing it from other economic systems that have preceded it, such as feudalism, and existed alongside it, such as state socialism. Most of the class will be devoted to examining economic theories that have been developed to explain and support the operation of this system. In particular, we will study how different theories explain the determination of prices, wages, profits, aggregate output, and employment in the short run, as well as economic growth and income distribution in the long run. The relationships between economy, polity, society, and culture will all be discussed and explored. This course functions as an introduction to both micro- and macroeconomics and will prepare the student for intermediate-level work in both fields.
Woodward Chair in Public Policy
Sarah Lawrence College invites applicants for a part-time one- year position in the social sciences division beginning in Fall 2013. We seek a scholar whose research and teaching interests are focused on intersections between public policy and social justice. Specific areas of interest may include environmental justice and environmental policy (toxics, global warming, environmental politics), civil rights or international law and human rights, law and society, or inequality and social policy (such as housing or education). Candidates should have a passion for undergraduate teaching, with a special emphasis on connecting students’ academic and intellectual pursuits to community-based learning or public engagement. This position is a half time visiting appointment, requires two days per week on campus, and is compensated as a half-time appointment. Applicants should have a Ph.D. or be ABD in one of the social sciences or a related discipline, and experience working with community-based organizations is preferred. The successful candidate will temporarily occupy The Joanne Woodward Chair in Public Policy, which honors Ms. Woodward's (1990) social commitment and concern with public issues. The application should include the following: cover letter including a statement of teaching philosophy and research interests, curriculum vitae, course descriptions and syllabi for two proposed courses, and two letters of reference. Review of applications will begin on June 20th, 2013 and continue until an applicant is chosen. To apply for the position, go to: https://slc.simplehire.com/applicants/Central?quickFind=50517
Sarah Lawrence College is a small liberal arts college with a unique pedagogy based on small classes and individual tutorials. For information on Sarah Lawrence College, our curriculum, teaching methods, and philosophy of education, please see our Web site at:http://www.slc.edu. SLC is an Equal Opportunity Employer committed to achieving a racially and culturally diverse community.
Attacking the Citadel: Making Economics Fit for Purpose
26th – 29th of June 2013 | Izmir University of Economics, Izmir, Turkey | Conference Website
Around 150 heterodox economists from more than 20 countries around the world gathered at the Izmir University of Economics (IEU) in Izmir, Turkey for the 1st World Keynes Conference organised by Ekolider Research Institute of IEU and the Center for Economic and Sociological Studies (CESS) at Hamburg University, Germany. Under the conference’s theme of “Attacking the Citadel: Making Economics Fit for Purpose” a huge variety of about 110 papers were presented and discussed in a open and respectful atmosphere. Although the conference carried John Maynard Keynes in his name, it was addressed towards the entire heterodox community including Marxist, Post Keynesian, Sraffian, Institutionalist, Evolutionary and Feminist approaches, which were all present – the policy pursued by the organisers was inclusiveness and plurality, not exclusiveness and monism.
Invited speakers were John Weeks (SOAS, University of London) on “Marx, Keynes and the economics of the 99 percent”, Wolfram Elsner (University of Bremen) on “The State of the Heterodoxies in Economics: Dangers, Challenges, Convergences and Cooperations”, David Kotz (University of Massachusetts—Amherst) on “Understanding Post-1980 capitalism”, and Heinz Kurz (University of Graz) on “How General a General Theory?” The papers by the invited speakers pointed to the deficiencies, inconsistencies and lack of relevance of mainstream economics as well as to the tasks ahead for pluralist, heterodox economists in providing alternatives for a better understanding of real world economic developments and forming better policies to serve the people.
Most of the papers presented will be made available on the conference webpage and selected papers will hopefully find their way into heterodox journals supporting the conference such as the American Journal of Economics and Sociology, the Review of Keynesian Economics, the Forum for Social Economics, the International Journal of Public Policy, and the Izmir Review of Social Science.
As most of the participants regarded the conference a huge success and encouraged the organisers to carry on, a 2nd World Keynes Conference is planned to be organised in 2015 in order to regularly provide another forum for heterodox exchange outside the USA and mainland Europe.
July 13, 2013
University of Hamburg
Political Economy: social science and/or tool for economic policy?
3-5 July, 2013 | Bordeaux, France | website
The third congress of French Association of Political Economy was organized in Bordeaux, from the 3rd to the 5th of July 2013, on the topic “Political Economy: social science and/or tool for economic policy?” The detailed program (in French) can be found on the website of the conference. Some papers are online on this page.
With almost 150 participants, more than 100 communications and 36 parallel, plenary sessions and roundtables were organized, the congress was a success and a specific moment to defend pluralism and heterodox economics, to discuss between economists, sociologists and political scientists on the place of political economy in social sciences. A play "Adam Smith, Le Grand Tour" dedicated to Adam Smith heritage was also performed in avant-première in the OARA theatre. Details and teasers can be found here.
July 15, 2013
Université Montesquieu - Bordeaux IV
Economy and Organisation
July 4-6, 2013 | London Metropolitan University, London, UK | website
As a member of AHE and from the participant's point of view, I’d like take this space to report the 15th Annual Conference of AHE, which took place recently in London. Under the theme of “Economy and Organisation,” there were 34 sessions, 101 papers presented, 116 registered participants, and 4 plenary sessions--Anthony Atkinson (Oxford) on “Inequality”, William Lazonick (U of Massachusetts-Lowell) on “Innovative Enterprise,” IAFFE panel on “Gender Budgeting,” and a closing plenary session on “Individualism, Ethics, and Organisation.”
It was such a diverse (in terms of topics covered), pluralistic (in terms of theoretical standpoints), and well-organized conference. I attended heterodox microeconomics sessions, “Pasinetti” sessions, and few others--I wish I could have attended more, but there were 4-5 parallel sessions running at the same time. You can see the entire conference program here and you can download conference papers here.
The next AHE conference will be held at the University of Greenwich, London (date TBA).
July 15, 2013
SUNY Buffalo State
The broadcast can be found here.
The latest video in Econ4's "Bottom Line" series, "A New Economy", has been posted on our website.
The associated "Economists' Statement on Building the New Economy" can be viewed with a link to sign on here.
Professor John King's Keith Hancock Lecture is now up on YouTube here.
The lecture is called 'A Case for Pluralism in Economics.' The first five minutes of the recording is the La Trobe's Vice-Chancellor. Professor Stuart Macintyre then introduces John King (5:07) and then John starts his address at 8 minutes 53 seconds into the recording. Its a very good lecture on pluralism by one of the world's leading heterodox economists.
Journal website: http://ags.sagepub.com
Journal website: http://onlinelibrary.wiley.com/doi/10.1111/ajes.2013.72.issue-3/issuetoc
CJE is currently providing free access to the special issue on “Prospects for the Eurozone.” Follow the link to download articles in this issue.
Journal website: http://www.oxfordjournals.org/page/3924/1
Journal website: http://cnc.sagepub.com/content/vol37/issue2/?etoc
Extended book reviews
Journal website: http://circusrevista.com.ar/
Journal website: http://elrr.sagepub.com
Symposium in Honour of Professor John W Nevile
Guest editor: Tim Harcourt
Journal website: http://booksandjournals.brillonline.com/content/1569206x
Journal website: http://www.tandfonline.com/toc/rict20/3/2#.Ud7aKfmkorM
Symposium: Understanding “East Asia”
Information and Trends
Journal website: http://www.inderscience.com/jhome.php?jcode=ijpee
Commentary on Financial Education
Articles on Economics
Incorporating Pluralism into the Economics Curriculum
Journal website: http://www.tandfonline.com/toc/rjec20/20/2#.Ud74vfmkpik
Book Review Symposium on Daniel Hausman's Preference, Value, Choice, and Welfare
Journal website: http://www.olafinanciera.unam.mx/new_web/15/index.html
Note: Articles are available for download on the journal website.
Journal website: http://www.tandfonline.com/toc/rrmx20/25/3#.Ud7iuvmkorM
Symposium: Revisiting Resnick and Wolff's Reading of Overdetermination
Globalization under Interrogation
Journal website: http://www.paecon.net/PAEReview/
Download the entire issue in pdf: http://www.paecon.net/PAEReview/issue64/whole64.pdf
In this issue:
Journal website: http://www.tandfonline.com/loi/crpe20
2013 marks the 25th volume of the Review of Political Economy and, to celebrate, the Editors have selected their top 25 articles from the past 25 years and made them free to view for the remainder of 2013. This collection includes a paper by the joint first Nobel Laureate in Economics and a wealth of other leading papers in the field of Political Economy from the last quarter of a century. The papers can be found here (and see the list of papers below).
Journal website: http://www.revistaeconomiacritica.org/
NOTAS SOBRE LA CRISIS
CLÁSICOS U OLVIDADOS
RECENSIONES DE LIBROS
Journal website: http://regulation.revues.org/
Note: Articles are available for download on the journal website.
The heterodox analysis of Asian development is not new, but that still remains to be explored. This work is necessary because, on the one hand the size of the pool, huge and diverse economic region, on the other hand the ignorance which it suffers in France, especially in the South-East (but perhaps Southeast Asia), and finally to the rapid changes that are occurring.
Editorial: Political economy of Asia / Pierre Alary and Elsa Lafaye de Micheaux
Reviews - debates
Interview with Jean-Pierre Dupuy
Review of Books
Special issue: 25 years of Work, employment and society
BSA journal Work, employment and society has just published an Anniversary Special Issue in honour of 25 years of publishing. It is freely available to all readers until 31 July 2013: http://wes.sagepub.com/content/current
The issue features articles from the following leaders in the field:
In October 2012, WES held a successful one-day conference exploring key themes for work and employment in honour of 25 years of publishing. Along with the special issue, we are happy to bring you the video from this event. If you were not able to join us in October or would like to view the presentations again, you can access the videos here: http://wes.sagepub.com/site//video/25th.xhtml
Journal website: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1743-4580
In a new series, Routledge provides free access to articles published in their various journals.
Current Issue: http://econsoc.mpifg.de/newsletter/newsletter_current.asp
Table of Contents:
Events & Announcements
IDEAs Working Papers
This fall, the Levy Institute is sponsoring two international conferences in conjunction with the Ford Foundation Project on Financial Instability, which draws on Hyman Minsky's extensive work on financial governance and the role of government in achieving a growing and equitable economy. Leading policymakers, economists, and analysts from the United States, Europe, South America, and Asia will gather in Rio de Janeiro and Athens to discuss the issues surrounding the eurozone debt crisis, the consequences of the crisis for the global economy, and the future of financial governance.
1. Financial Governance after the Crisis
September 26--27, 2013 | Rio de Janeiro, Brazil
This conference will address the financial structures needed to promote investment in emerging markets; the challenges to global growth posed by continuing austerity measures; the impact of the credit crunch on economic and financial markets; and the larger effects of tight fiscal policy as it relates to the United States, the eurozone, and the BRICs. For a list of invited speakers and registration information, click here.
2. The Eurozone Crisis, Greece, and the Experience of Austerity
November 8--9, 2013 | Athens, Greece
Key topics at this conference will include the challenges to global growth and employment posed by the ongoing debt crisis in the eurozone, the impact of austerity on output and employment, the broader ramifications of government deficits and debt crises for US and European economic policy, and central bank independence and financial reform. For additional information, including how to register, click here.
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In this issue
Edited by Thomas Cate
August 2013, Edward Elgar. ISBN: 978 1 84980 172 0 (hb) | website
The comprehensive Encyclopedia features accessible, informative and provocative contributions by leading international scholars working in the tradition of Keynes. It brings together widely dispersed yet theoretically congruent ideas, presents concise biographies of economists who have contributed to the debate on Keynes and the Keynesian Revolution, and outlines the basic principles, models and tools used to discuss the economic consequences of The General Theory. Longer entries on specific topics associated with Keynes and the Keynesian Revolution analyse the principal factors that contributed to The General Theory, the economics of Keynes and the rise and apparent decline of Keynesian economics in greater detail.
Edited by Ben Fine, Jyoti Saraswati, and Daniela Tavasci
May 2013 Pluto Press. ISBN: 9780745331669 | website
Moving beyond abstract economic models and superficial descriptions of the market, BEYOND THE DEVELOPMENTAL STATE analyses the economic, political and ideological interests which underpin current socio-economic processes.
Through this approach, the contributors show the close interrelation between states and markets in both national and international contexts. Drawing on a wide range of case studies and themes, the book exposes the theoretical and empirical limitations of the developmental state paradigm, offering alternatives as well as discussing the policy implications and challenges they raise.
For scholars, students and practitioners of development, BEYOND THE DEVELOPMENTAL STATE presents a decisive break with the old dogmas of both neoliberal orthodoxy and theories of 'market-imperfection', and outlines theoretically and empirically grounded alternatives.
By Huw Macartney
July 2013 Palgrave Macmillan. ISBN: 9781137298003 (hb) | website
Huw Macartney examines the conflicting movements gripping Europe. He explains why 'more Europe and less democracy' seems to be the order of the day. He argues that state managers responses reflect a long-term disquiet about the economic consequences of democracy. Through a critical engagement with ordo-liberal and neo-liberal intellectual traditions, Macartney explains why participation and consent have given way to coercion and depoliticisation. Financial speculation and growing social unrest have thus fuelled attempts to further mystify the political character of economic policymaking. This comes at precisely the time when the everyday life of European citizens is most affected by the decisions of political classes at the heart of Europe. There are strong reasons to believe though that the kind of violent outbreaks in Greece and elsewhere point to the limitations of this authoritarian, undemocratic governing strategy. The end-result could prove devastating for Europe
Edited by John B. Davis , D. Wade Hands
Edward Elgar. 2012. ISBN: 978 1 84844 754 7 (hb), August 2013. ISBN: 978 0 85793 824 4 (pb) | website
Bringing together a collection of leading contributors to this new methodological thinking, the authors explain how it differs from the past and point towards further concerns and future issues. The recent research programs explored include behavioral and experimental economics, neuroeconomics, new welfare theory, happiness and subjective well-being research, geographical economics, complexity and computational economics, agent-based modeling, evolutionary thinking, macroeconomics and Keynesianism after the crisis, and new thinking about the status of the economics profession and the role of the media in economics.
By Thomas I. Palley
Palgrave Macmillan, May 2013. ISBN: 978-1-137-26581-4 | website
This book explores the process of financialization whereby economies are increasingly dominated by finance capital. This process is characterized by rising income inequality, wage stagnation, increased indebtedness, a rising financial sector share of profits, and tendencies to generate asset price bubbles. The financial crisis of 2008 and the subsequent recession and stagnation represent the latest phase. The book provides a comprehensive treatment of these developments, beginning with a presentation of the empirical evidence. That is followed by economic theory chapters dealing with the macroeconomics of financialization, business cycle effects; microeconomic developments; tendencies toward Minsky-style economic instability; and economic growth effects. The final section of the book focuses on the political economy of financialization and policies to stabilize financial markets.
By Wilfred Dolfsma
Edward Elgar. August 2013. ISBN: 978 1 78254 606 1 (hb) | website
This highly unique book takes a fundamental look at when and how a government can fail at its core responsibility of formulating rules. Government, representing society, relates to the economy by formulating the rules within which (market) players should operate. Although market and business failure are much discussed in the economics literature, government failure is often overlooked. This book addresses this gap, exploring in detail what constitutes government failure.
By Laurent Baronian
May 2013 Routledge. Series: Routledge Frontiers of Political Economy. ISBN: 978-0-415-50867-4 (HB) | website
From his early economic works on, Marx conceived the labour of any kind of society as a set of production activities and analysed the historical modes of production as specific ways of distributing and exchanging these activities. Political economy on the contrary considers the labour only under the form of its product, and the exchange of products as commodities as the unique form of social labour exchange. For Marx, insofar as the labour creating value represents a specific mode of exchanging the society's living labour, general and abstract labour cannot not only be defined as the substance or measure unit of the commodity, as in Smith or Ricardo, but foremost as an expense of living labour, i.e. of nerves, muscles, brain, etc. Hence the twofold nature of living labour, as a concrete activity producing a use value and an expense of human labour in general producing exchange value. Marx himself claimed that this twofold nature of labour creating value was its main and most important contribution to economic science. This book aims at showing how both determines the original categories and economic laws in Capital and constitutes the profound innerspring of Marx's critique of political economy. The role and function of living labour is highlighted by dealing with the difference between Marx and Classics' theories of labour value; money and the problems of its integration in economic analysis, especially in Keynes; the transition from feudalism to capitalism; the theory of capital through a discussion on the Cambridge controversy and the transformation problem; the labour process and the principles of labour management; unemployment and overpopulation; the formulas of capital in the history of economic thought; finally, an interpretation of the current crisis based on Marx's conception of overaccumulation and speculation after having distinguished it from underconsumption and stagnation theories of crises.
By Jan Toporowski
Palgrave Macmillan, July 2013. ISBN: 978-0-230-21186-5 | website
The Polish economist Michal Kalecki (1899-1970) was one of the architects of the Keynesian Revolution in economic theory and policy who came to England soon after the publication of Keynes's General Theory. Jan Toporowski's intellectual biography of Kalecki brings to the general reader, as well as professional economists, an explanation of the key ideas of Kalecki and how these differed from the theories of John Maynard Keynes. The book contains a wealth of new material on Kalecki and Keynes's circle in Cambridge, their shared ideas and disagreements. Kalecki's discussions of the business cycle, the New Deal, and the respective economic policies of the Popular Front in France, Nazi Germany and inter-War Poland, changed the Economics of the twentieth century. Jan Toporowski's lively and accessible discussion of Kalecki's intellectual development casts important new light on Economics and economic policy in a time of instability and financial crisis.
By William Milberg and Deborah Winkler
April 2013, Cambridge University Press. ISBN: 9781107609624 | website
Outsourcing Economics has a double meaning. First, it is a book about the economics of outsourcing. Second, it examines the way that economists have understood globalization as a pure market phenomenon, and as a result have “outsourced” the explanation of world economic forces to other disciplines. Markets are embedded in a set of institutions – labor, government, corporate – that mold the power asymmetries that influence the distribution of the gains from globalization. In this book, William Milberg and Deborah Winkler propose an institutional theory of trade and development. They find that offshoring reduces employment and raises income inequality in countries that lack institutions supporting workers. They also find that offshoring allows firms to reduce domestic investment and focus on finance and short-run stock movements. Development has become synonymous with “upgrading” in global value chains, but this is not sufficient for improved wages or labor standards.
By Dimitris P. Sotiropoulos, John Milios, and Spyros Lapatsioras
June 2013 Routledge. Print ISBN-13: 978-0-415-68408-8 | website
The recent financial meltdown, along with the resulting global economic recession and financial distress, has rekindled important discussions with regard to the nature of contemporary capitalism. At the heart of the debates we find institutional developments such as the rise of indebtedness, new trends in financial innovation and the ascendance of markets for derivatives. This book starts from the perspective of political economy to give a distinct and original interpretation of this new financial landscape.
The book creates a new synthesis to interpret changes in the financial world on a foundation of ideas from the mature writings of Karl Marx: recent developments in finance are seen to be innate in the dynamics of capitalist power. The ideas presented here challenge the established discourse in heterodox political economy by arguing that modern finance is not a distortion, but a trend well in line with the logic of capital. Regardless of its contradictions, modern financial engineering is not dysfunctional. It should be understood as a general technology of power that organizes and facilitates the functioning of capitalist power relations and guarantees their reproduction. In this context, financial derivatives, even in their most ‘exotic’ versions, play a crucial role in the organization of capitalist exploitation.
Marx’s system of analytical categories, and in particular his conception of value, money, capital and fetishism (ideology) are applied to the interpretation of recent patterns in capitalist development and are seen to be useful and even essential for an understanding of contemporary events in the financial world. From this standpoint, the book assesses and appraises mainstream financial theory, as well as heterodox discussions concerning finance and risk. It explains general financial developments, economic instability and crisis by referring to concrete examples, including the subprime crisis and applies this analytical framework to the crisis of Euro area.
By Francis Green
June 2013, Oxford University Press. ISBN: 978-0-19-964285-4 | website
Skills are frequently in the news and in the public eye in every country. Stories highlight concerns about education and literacy standards, grades, learning by rote, and university students being unprepared for work, as well as debates surrounding internships and apprenticeships, and social exclusion through skills policy. The recent financial crisis has forced education and training to take a back seat, and has caused an increase in youth unemployment. Skill and skilled work are widely considered important for promoting both prosperity and social justice. But how do we define skill?
By Carlos Hoevel
2013 Springer. ISBN: 978-94-007-6057-8 | website
Introducing an alternative philosophical foundation to the study of economics, this book explains and adopts the perspective of the Italian philosopher Antonio Rosmini (1797-1855), whose interpretation of economic action was fundamentally at odds with the prevailing and all-conquering utilitarianism of modernity. Rosmini, one of the most important Italian and Catholic philosophers of the modern age, eschewed the traditional concepts of subjectivism and individualism at the core of the utilitarian thesis, prefiguring today's critique of 'autistic economics' with his assertion that micro-economic formulae consecrating the 'maximization of utility' derive not from scientific principles or even hypotheses, but from uncritically adopted philosophical ideas. It was an assault on the determinism he perceived as the fatal flaw in accepted economic theory. Rosmini's notion of human and economic action, based on human beings' 'personal' capacities for objective knowledge, truth recognition, moral goodness and happiness, deeply transform the meaning of central economic activities such as labour, wealth creation and consumption, and become crucial factors in any analysis of the operation of the economy.
After introducing the fundamentals of Rosmini's thought, the author details the theoretical and institutional features of utilitarian economics, tracing their influence on social norms. He juxtaposes these with Rosmini's alternative philosophy which places the concept of social justice at its heart, and which attempts to establish a framework for relations between the public and private realms. The contemporary case is then made for adopting Rosmini's principles, thus changing an economic paradigm widely held to be unassailable. The fruit of unprecedented and systematic research on Rosmini's economic ideas, this volume offers a detailed conceptual framework to guide alternative approaches to conventional neoclassical economics.
A list of new books published by the GEI can be found here.
By Alexis Stenfors (email@example.com)
Department of Economics, SOAS, University of London, UK, May 2013
Advisor: Professor Costas Lapavitsas
This dissertation uses an interdisciplinary approach to investigate the determination of the London Interbank Offered Rate (LIBOR). It is shown that the LIBOR is a fundamentally flawed benchmark stemming from the institutional characteristics of financial markets in general and the practices of banks in particular. As a consequence, the LIBOR is vulnerable to deception. It also gives rise to the misleading perception that it is the outcome of a market-determined process. Specifically, a game-theoretic approach is adopted to analyse the LIBOR fixing mechanism. Several non-zero-sum ‘LIBOR Games’ are modelled and solved using a Bayes Nash solution, demonstrating that the banks determining the LIBOR have the means, opportunities, and incentives to submit deceptive quotes, resulting in LIBOR values that deviate from the actual average bank funding cost. Particularly important in this context are LIBOR-indexed derivatives portfolios and the stigma attached to signalling a relatively high funding cost by banks. By deploying the framework of a Keynesian Beauty Contest it then shown that deviations of the LIBOR from what could be regarded as its fundamental value could be long-lasting and systematic. Deception is thus generated endogenously, i.e., though the fixing process itself. Further, a structural approach to the concept of power is developed within a political economy framework showing that the interests of the LIBOR banks have been served historically, through changes ranging from financial innovation to deregulation. LIBOR-determining banks can thus be conceived as ‘LIBOR Clubs’ with the structural power to promote their interests through the LIBOR fixing process. In the same vein, the LIBOR is a lens through which to examine significant features of the power relationship between the central bank and other banks. The power of the LIBOR-determining banks is illustrated through the empirical examination of a recent rule change impacting on the Norwegian NIBOR.
By Karol Gil-Vasquez (Karol.Gil-Vasquez@nichols.edu)
Department of Economics, University of Missouri-Kansas City, 2013
Advisor: Dr. L. Randall Wray
Based on a critical analysis of the mainstream development discourse, the subaltern's history, and hybrid theoretical models, this dissertation is focused on studying the transformation of the Pre-Hispanic state and the institutionalized social relationships of money in Central Mexico. This work emphasizes the need to recreate historical specific models to re-conceptualize institutional development in former colonies. Chartalism, the state theory of money, assists in the creation of a more comprehensive theory to study monetary history in Central Mexico. I argue that in order to create an alternative historiography, it is mandatory to shed light on the institutional structure of the Mexican subaltern—the Mexicas.
This study begins by analyzing the nature of Mexico's political and monetary institutions. This analysis is followed by the study of the monetary and production systems that emerged out of the interaction between the Mexicas and the Spanish immigrant population during the early and the late colonial periods. The study focuses on the transformation of Nahuas interrelated institutions—state and money—once the Spanish institutions were introduced. A parallel objective of this work is to study two major kinds of institutions—institutions of social reproduction and institutions of economic exploitation —found in constant interaction throughout the history of Mexico. The institutions of social reproduction have allowed the maintenance of non-capitalist social arrangements in the form of peasant-indigenous communities that have coexisted through self-sufficiency and/or a partial incorporation into the capitalist economy. The institutions of exploitation are represented by the ancient tributary systems and the colonial taxation systems that have attempted to subject control peasant-indigenous communities to a political institution. From this interaction, a particular monetary system has been generated during the colonial times. Influenced by cultural patterns and ideologies, political and monetary systems have taken different shapes throughout specific historical periods in Central Mexico, how this study shows.
St Edmund's College, Cambridge: Applications are invited for the GLS Shackle Studentship for the 2014-15 academic year.
The award for the studentship is: one term's free single accommodation during the 2014-15 academical year, or £2,000 paid in instalments over a period of 10 weeks. Closing date for applications: Friday, 25th October 2013.
Further information and details of how to apply are available here.
You may be interested in the following new 1-year Master's programme, MSc Global Economy and Business Institutions, offered from September 2013 at the Hertfordshire Business School, University of Hertfordshire, Hatfield, UK, just 20 minutes from central London.
This unique, research-informed taught course is designed to give students the opportunity to learn with academics who are experts in institutional, evolutionary and organisational economics, political economy and development economics.
Please visit the programme's website at: http://www.herts.ac.uk/courses/global-economy-and-business-institutions or visit http://www.uhbs-groe.org/masters-course.htm.
Information about some of the teaching staff can be found here: http://www.uhbs-groe.org/masters-course.htm and http://www.herts.ac.uk/research/ssahri/research-areas/business-management/gebru
Download the leaflet and the program structure.
If you or your colleagues know students who may be interested please refer them to firstname.lastname@example.org.
Ragnar Nurkse School of Innovation and Governance (former Department of Public Administration) at Tallinn University of Technology, Estonia, invites prospective MA students to apply for the the Ragnar Nurkse scholarship (7,200 euros) to be awarded to a student who will start his/her studies at the MA in Technology Governance (Innovation Policy & Development Economics) programme in the academic year 2013/2014.
Please send scholarship applications (a 1-2 page letter describing your thesis proposal and previous professional experience; proof of previous academic results; CV; academic recommendation letter) and other inquiries to Rainer Kattel at email@example.com no later than June 20th, 2013. Please use pdf files.
There is a limited number of tuition waivers for MA applicants, accepted students can apply for the DoRa 9 scholarship (288 eur / month).
RNS also offers a PhD programme with research interests in Public Administration and/or Technology Governance with an official admission taking place each year in June. Prospective international PhD students are encouraged to contact RNS throughout the year in case of interest in our PhD program. PhD students from universities around the world are encouraged to apply for the DoRa 5 scholarships for short term (1-10 months) study visits.
Please visit the website for further information.
As long as workers could wrest gains from capitalism, the system was safe. But with production offshored, that bargain blew up
Read the article here.
The Historical Materialism book series at Brill is initiating a project to translate and publish Alfred Sohn-Rethel’s most important work.
Alfred Sohn-Rethel (1899-1990) was a Marxian economist and philosopher. He is best known for developing the notion of ‘real abstraction’, which influenced the work of the Frankfurt school (Adorno), Autonomism (Virno), the Neue Marx-Lektüre, and has recently been the subject of renewed interest. As Sohn-Rethel himself noted, the idea of 'real abstraction' was the core idea he developed, revising it over the course of several decades. Yet the English translations of Sohn-Rethel’s work are hard to find and only offer a partial grasp of his thought, particularly the development of 'real abstraction'. The selected works will remedy this situation by translating Sohn-Rethel’s most important writings. It will also help contextualize his relationship with the Frankfurt School, Autonomism and the Neue Marx-Lektüre .
The Selected Works will broken down into the following three volumes:
Volume 1: A Critical edition of Intellectual and Manual Labour. This edition will make Sohn-Rethel’s magnum opus readily available in English in a new form. This will be done by incorporate changes Sohn-Rethel made in the subsequent Italian and German editions of Intellectual and Manual Labour. It will also include a few notes he made in an annotated edition of English translation of Intellectual and Manual Labour which clarify certain passages on the epistemological dimension of real abstraction.
Volume 2: Collected essays that include the most notable of Sohn-Rethel’s early work, some mid-period essays from Geistige Und Korperliche Arbeit : Zur Epistemologie Der Abendlandischen Geschichte, Warenform und Dankform and the later Das Geld, die bare Münze des Apriori, none of which are available in English. This volume will complement the critical edition of Intellectual and Manual Labour by including the essays that mark the development of the idea of 'real abstraction', prior to and following the publication of Intellectual and Manual Labour. It will also feature Sohn-Rethel’s writings on the Frankfurt School, and other items of interest including essays on technology.
Volume 3: Will consist of a translation of his correspondence with Theodor W. Adorno.
Those interested in helping translate, edit and otherwise contribute to the project should contact Chris O’Kane at firstname.lastname@example.org. The project also has a website at alfredsohnrethel.wordpress.com/
Dear radical political economist colleagues,
My name is Chris Doran, and I'm researching Iraqi agriculture relative to US policy in the Middle East in general and the push for gmo seeds and crops. I'm struggling to find much beyond what I already covered in my first book, Making the World Safe for Capitalism (Pluto Press 2012) which included a large section on agriculture and food sovereignty under the occupation.
Is anyone familiar with any other researchers investigating post invasion agriculture in Iraq or possibly Afghanistan? Ideally, I would to secure research grants that would allow me to conduct in country field research in Iraq and the region; in particular to determine the extent of US initiated genetically modified seed/ crop presence in Iraq.
If anyone has any suggestions regarding grants or postdocs to facilitate this research, I would be extremely grateful for any and all leads. I am an adjunct, not tenured faculty, which eliminates me from the majority of funding opportunities, but I still qualify for most postdocs.
Christopher Doran, Ph D
International Studies Department
The following was posted by Paul Davidson in response to Steve Keen’s blog post here. We are re-posting with permission.
Steve Keen correctly notes there is an implicit-if not explicit- Neoclassical mainstream conspiracy against Post Keynesian economics. Unfortunately, many economists are unknowing co-conspirators — as I will explain below — after a brief mention of history...
The JOURNAL; OF POST KEYNESIAN ECONOMICS [JPKE] was started 35 years ago by Sidney Weintraub and myself with the some financial support of people like Ken Galbraith. Ken and others wanted to create a publication outlet for economists who were trying to develop an alternative analysis to mainstream economic theory — whether it was the orthodox classical monetarist, efficient market theory of Chicago — or even the Neoclassical Keynesian theory of MIT.
In fact, Steve’s 1990′s theory article was published in the Journal of Post Keynesian Economics [ and I am reasonably sure it would not have been published in most orthodox economic journals such as the AER, the EJ, RES, etc.] -So the JPKE played an important role in helping Steve generate interest in his theory and analysis.
Also the John Hicks’ article stating explicitly that he [Hicks] now recognizes that his ISLM model is not a correct interpretation of Keynes’ General Theory analysis was published in the JPKE. [How many think that mainstream journal editors would have published Hicks's repudiation of his 1937 interpretation of Keynes? As a friend of John Hicks, I can tell you he did not think anyone except the JPKE would publish that article.]
I could go on with other contributions that have been promoted by the JPKE that might never seen the light of day without the JPKE publication. But now to the coconspirator part of my message.
How, you may ask, are many economists, heterodox or otherwise, co-conspirators with neoclassical theorists to ignore and thereby contribute to the demise of Post Keynesian theory?
As universities have see financing difficulties increased, many university libraries (as well as individual professors) have been reducing their subscriptions to professional journals.
Subscriptions to the JPKE have fallen off significantly in the last four years — since the global financial crisis has created a Great Recession which is still upon us despite some tepid economic growth. I would think that the economics profession needed more, not less, journals promoting economic analysis and policies that did not promise that the market would, by itself, solve our economic problems –in the long run..
With this significant fall in subscriptions to the JPKE, consequently, the Journal of Post Keynesian Economics is clearly in danger of having to go out of business unless we can pump up subscriptions so that the publisher at least does not find this publication a drain on his cash flow.
Professors and members of research institutions are therefore co-conspirators if they have not checked to see if their institutional libraries have not continued to subscribe, or do not subscribe, to the JOURNAL OF POST KEYNESIAN ECONOMICS. Hopefully many economists would also have an individual subscription to the JPKE — but especially if they do not, they must insist and put pressure on their librarians to subscribe to the JPKE.
Help is essential for survival of alternatives to mainstream analysis!
I hope you will consider endorsing this petition, in favor of the bill now before Congress that would raise the U.S. minimum wage to $10.50 per hour. The bill, which is titled the “Catching Up to 1968 Act of 2013,” is sponsored by Congressman Alan Grayson. As noted in the petition itself, we have also prepared a technical appendix and set of references covering all the points raised in the petition.
If you are willing to sign the petition, please send your endorsement to the PERI Communications Director Debbie Zeidenberg at email@example.com.
Thank you for your willingness to consider this,
What do you think our banks should look like in 2020? That's the question we asked a range of MPs from across the political spectrum in our new book, Banking 2020: a vision for the future. Now we'd like to know what you think. Download your free copy of Banking 2020.
Tell us about your vision for Banking: we're on Twitter and Facebook.
One way or another, our banks are transforming. A range of new rules and regulators are already being put in place in the hope of preventing another financial crash. Banking 2020 looks to the future of our changing financial system, bringing together twelve very different visions of what our banks should look like in seven years time, and what we need to do to get there.
But banking is too important to be left to the politicians. That’s why, to coincide with the book’s release, we’re asking you to join the conversation about banking reform. What should banks look like in 2020? What does our banking system need that it doesn’t have now? Have we done enough to prevent another crash?
Please do let us know your thoughts.
Head of Finance & Business, nef
3 volunteers needed to act as directors of the WEA National Chapter Network. No IT skills needed.
The WEA is currently setting up national chapter websites. Each site will be run by a small team of volunteers from its country. The national sites will enable communication between WEA members in individual countries and provide a place for them to discuss economic issues and post data specific to their country. 30 such sites are now in early stages of development. Another 30 are expected to begin within a year, with more to follow. The take up rate of national volunteers has been phenomenal.
We are now looking for volunteers to serve as directors of this large network. Their job will be to suggest (mainly on the basis of observing what is working in other countries) content and format possibilities to the national site administrators and to oversee the personnel side of the network. The IT side is overseen by a paid IT specialist. If you are interested please send your particulars to firstname.lastname@example.org