Heterodox Economics Newsletter

Issue 298 June 20, 2022 web pdf Heterodox Economics Directory

In recent weeks I received several calls from journalists asking whether a wage-price spiral is to be expected as a consequence of recent price hikes and whether we need interest rate hikes to combat increasing inflation. These questions are somewhat awkward as they still follow a more or less neoliberal economic policy script, which indicates that free-market economic policy is alive and well and that we learn much too little and too slow from the failures of capitalism – like financial crises, soaring inequality or ecological destruction. Also, it is difficult to say which of these two questions is more misguided: a price-wage spiral seems rather improbable given that (a) inflation emerges from hard short- to medium-run scarcities in raw materials and foodstuffs as well as misalignments in global value chains, and (b) bargaining power of workers is at a long-time low. Against this backdrop, assuming that labor costs are the decisive variable for understanding inflationary pressure seems somewhat off-the-wall to me as scarce labor is surely not the bottleneck in this equation. Rather, we observe that profits are soaring in tightening sectors – especially energy – which points to the fact that lack of competition contributes to rising prices, which should put the culprit on the side of capital, not labor.

In a similar vein, developed economies are not overheating in the traditional sense – rather they struggle to keep their established modes of provisioning that rely on (cheap) imports of raw materials and intermediate goods up and running under current circumstances. Again, this will not be resolved by pushing up interest rates, which will increase unemployment and maybe come with some dampening effect on the development of real estate prices. But it won't much affect relevant consumer prices in the short run given that the deeper reasons for the current inflationary pressures are to be found in the Corona pandemic and the war in Ukraine (see here for a fuller exposition of this topic). Reflecting on this topic also indicates that Putin is not such a bad economist as some may have hoped. He most probably understands these dependencies of Western provisioning systems on an extractive imperialism quite well as he currently profits from both rising prices for fossil energy as well as the strategic option to reduce exports to Europe as a means for exerting geopolitical power. Many western economists, who were so enthusiastic about our ability to cut off Russia from international financial markets, seemingly did not anticipate that. This probably because they are used to thinking in terms of 'gross-substitutability', i.e. the idea that scarce inputs will be quickly replaced by a cheaper alternative, which effectively amounts to ignoring existing technological constraints. This is nice for modeling purposes, but less apt for understanding actual production processes. Putin's simple assumption – that much production starts with some primary input that is often difficult to substitute – seems more on the point here, especially in the short- or medium-run.

While it is quite unclear how our global economic system will further evolve from this point, it seems evident to me that we are witnessing a turning point in our economic history: although the idea of an ever-increasing global integration of value chains and provisioning systems might not have fallen out of fashion ideologically, its practical implementation will be much more constrained by geopolitical realities and relationships in the near future. And some parts of the world – Europe especially – will have to reinvent themselves as they are forced to fundamentally rethink their strategies for production and provisioning on a large scale. In my view, being forced to reinvent ourselves is not the worst thing to happen.This could help to bring Europe closer together politically and, more importantly, could serve as a compelling reason to push sustainable structures of production and provisioning, e.g. by more forcefully expanding the production of renewable energy or by engaging in a large-scale restructuring of European traffic systems.

In my humble view, reacting to the unprecedent circumstances we currently observe will require a type of economic thinking that is (a) striving for realism, (b) willing and able to account for changing socio-economic contexts, (c) accurately assessing the heterogeneity of different production processes, and (d) concerned about inclusivity, provisioning for basic needs and an appreciation for the heterogenous impact economic crises have on different individuals and social groups. If I am roughly right on this, we currently observe a historical opportunity for heterodox economics to set some things right. And although our efforts might be too little and come too late, we should, as always, aim to do our best on this!

All the best & keep up the good work!


© public domain

Table of contents

Call for Papers

11th Conference of the Iberian Association of the History of Economic Thought (Barcelona, Dec. 2022)

2-3 December 2022 | University of Barcelona, Barcelona, Spain

The biennial conference of the Iberian Association of the History of Economic Thought (AIHPE) will take place at the School of Economics of the University of Barcelona, Spain, the 2-3 December 2022.

Papers on any aspect of the history of economic ideas are welcome, no matter whether within or outside the Iberian geographical framework. Proposals for complete sessions, comprising three or four communications, are particularly encouraged, as well as contributions by PhD students and young scholars. The conference will evoke the legacy of Prof. Ernest Lluch, one of the founders of AIHPE.

Inquiries regarding paper and session proposals should be addressed to Javier San Julian at jsanjulian@ub.edu.Information about registration, accommodation and general program will be soon provided. More information is also availabe on the official website.

Submission Deadline: 15 July 2022

28th Annual Conference of the EuroMemo Group (London, Sept. 2022)

2-4 September 2022 | London, UK

Conference Theme: "The EU and the political economy of global disorder. Struggles for survival, climate and energy Justice”

In cooperation with Kings College London, the 28th Annual Conference of the EuroMemo Group will be held from 2 – 4 September 2022 in London. The title of the Conference is „The EU and the political economy of global disorder. Struggles for survival, climate and energy Justice”. Against the background of multiple and deepening crises, and in particular the war in Ukraine, this year’s conference will address the profound implications of on-going geopolitical changes for the future of the EU, with special reference to the much-needed socio-ecological transformation.

We would like to invite you to attend the conference and to submit paper proposals for contributions to the workshops. We invite proposals for papers that address any aspect of the conference theme The EU and the political economy of global disorder. Struggles for survival, climate and energy Justice '. In particular, we encourage submissions that relate to recent European developments that pertain to one of the following topics:

Submission Procedure

We invite proposals for papers on the conference topics from the academic community as well as from (activist) researchers working on European and international issues. Proposals for papers together with a short abstract (maximum 250 words) should be submitted by 30 June 2022 at latest to: info@euromemo.eu.

We strongly encourage participants to submit short papers (10-12 pages) and to explicitly address policy implications. If you would like to submit an abstract and/ or participate in the conference, please copy the registration form below into an email and reply to info@euromemo.eu. Please note that there is no deadline for registering for participation only. All submitted abstracts will be reviewed by the Steering Committee of the EuroMemo Group. Accepted papers will be published on the conference website and there is also the possibility to publish papers presented at the conference within the EuroMemo Group Discussion Paper Series.

Submission Deadline (extended): 30 June 2022

Forum for Social Economics: Symposium on "Social Reproduction and Biopolitics" (Online, August 2022)

The Forum for Social Economics (FSE) is pleased to invite submission to a symposium on social reproduction and biopolitics. We particularly welcome submission from different disciplines that complement the social-economic perspective and encourage the utilization of different theoretical perspectives and the application of a wide variety of methodological approaches (qualitative, quantitative, and mixed method). Both conceptual and empirical contributions are welcome.

Notes for Prospective Authors: If you are interested in submitting an abstract or have any questions, please email Professor Alicia Girón and/or Prof. Karol Gil Vásquez and confirm your interest. We will be happy to receive your suggestions and/or answer your queries regarding the suitability of your tiopic. The first step is to submit an abstract. Please email paper title and abstract (300 words) to the guest editors no later than 31 August 2022. All papers will be subject to double-blind peer review. All papers must be submitted online through the journal’s website at Taylor and Francis/Routledge.

Please read the submission guidelines, and for more information, also please see the Forum for Social Economics’ instructions for authors provided in the journal’s webpage.

Please find more information in the link.

Application Deadline: 31 August 2022.

International Conference: Power and Knowledge from the 18th Century to Today (France, November 2022)

24-25 November, 2022 | Nancy, France

International Conference: Power and Knowledge from the 18th Century to Today

Dating back to the beginnings of Greek democracy and the Platonic conception of the philosopher king, the relations between power and knowledge have recently come back to the fore with the rise of populism or the sanitary crisis. Whether an obstacle to democracy, a means for citizens to control their representatives or a vehicle for regenerating democracy (Mounk, 2018), knowledge now appears, more than ever before, as a constitutive feature of government.

This interdisciplinary conference will seek to explore the implications of such relations since the 18 century and to examine to what extent knowledge may establish, legitimize or discredit the forms and figures of political power.

Alongside the democratic ideal, the specialisation and secularisation of knowledge during the Enlightenment gave rise to conceptions of a social order based on knowledge, be it Robert Owen’s utopian schemes, Comtean positivism or the clerisy called for by S. T. Coleridge. As mass democracy spurred the growth and influence of political parties, debating societies and think tanks appeared with the aim of influencing political decision-makers as well as public opinion, precipitating reforms and asserting the dominance of thought over action (Stone & Denham, 2004; Landry, 2021). In the liberal and democratic project, education has come to represent a valuable means of promoting citizenship for reformers ranging from philanthropists, socialists and liberals, to philosophical traditions such as British idealism or American pragmatism (Tyler, 2006; Dewey, 1916). On a broader scale, cultural critics or intellectuals have invoked their learning or expertise to purportedly counterbalance institutional power or to exert influence in the public sphere.

That knowledge may imply coercion has been the butt of criticism from multiple traditions. Together with the poststructuralist movement inspired by Michel Foucault or cultural studies, critics of modernity such as Eric Voegelin, hostile to what he deemed a gnostic conception of power, or Carl Schmitt, for whom Hegel’s philosophy implied an “educational dictatorship”, have concurred in their questioning of Enlightenment optimism, dismissing knowledge as a necessary condition for progress and holding it to be the locus of a political struggle.

The debate has been central to the theorization of disciplines, understood as fields of knowledge that presuppose the existence of “disciples” and therefore some form of authority (Moran, 2002). If the specialisation of knowledge seems inevitably linked to the world being perceived as increasingly complex, what are the checks on experts’ judgements? Can a government reliant on specialised knowledge be genuinely democratic? Can philosophy, as Nietzsche would have it, challenge the claims of objectivity and disinterestedness voiced by “we, scholars”? Or should principles and values regulating knowledge and information in the public sphere be formulated to overcome the current “epistemic tribalism” underlying the surge in disinformation and conspiracy theories (Rauch, 2021)?

Knowledge also stands at the intersection of political power, economic and social policies and ideologies. New Labour governments, for instance, claimed to base their agenda on the knowledge economy while fostering a brand of governance dubbed by some as technocratic or managerial (Dillow, 2007 ; Parry & Protherough, 2002). On this view, the crisis of democracy has been assumed to originate in an intellectual elite’s promotion of identities, amounting to « the critical demolition of foundationalism » (Lasch, 1995), or in a system giving birth to « a bloated cognitive class » (Goodhart, 2021). More fundamentally, the Hayekian critique of constructivist rationalism set out in « The Use of Knowledge in Society » (Hayek, 2014) and the Keynesian conception of economic policy (Dow & Hillard, 1995) paved the way for an ongoing debate over the possibility of knowledge serving both social justice and liberty in a democratic regime.

With an interdisciplinary approach, the conference will welcome proposals dealing with the relations between knowledge and power from the 18 century to today: papers can address the history of political and/or economic ideas, intellectual, cultural and political history or political science and sociology.

In-person presentations, in English or in French, will be encouraged but arrangements for remote delivery may be made. A selected number of papers may be published.

Papers may discuss, but are not limited to


Please send proposals in English or in French (300 words maximum) and a short biography to e-mail by 24th June 2022. You will be notified early July about the committee’s decision.

Organising committee

Application Deadline: 24 June 2022

Review of Political Economy: Special Issue on "Supermultiplier and Endogenous Money"

Special Issue Theme: "Supermultiplier and Endogenous Money"

Special Issue Editor(s): Oscar DeJuán, Ricardo Summa, Maria Cristina Barbieri Góes and Riccardo Pariboni

The Review of Political Economy invites contributions that explore the interrelations between the supermultiplier and the theory of endogenous money. The supermultiplier has recently started to be developed by researchers from other Post-Keynesian strands, besides Sraffians, and is establishing itself as an important component of heterodox Keynesian economics. The supermultiplier proposes that not only actual output but also the trend of productive capacity are determined by effective demand in monetary economies of production.

Both the principle of effective demand and the endogenous money theory are well-established foundations of Post-Keynesian economics, and thus perfectly compatible with each other. Recent advances on endogenous money have focused on effective demand, distribution, macroeconomic policies, open economy, and finance. On the other hand, recent analysis on the supermultiplier for its part has focused on theoretical and empirical determinants of demand-led growth and its relationship with income distribution, macroeconomic policies as well as possible constraints to growth. In this sense, both the supermultiplier and endogenous money would appear to be compatible ideas. However, such a research agenda has not been obvious to many scholars, which is the reason we have decided to publish a special issue on this.

This symposium seeks innovative work to explore the interrelations between the supermultiplier and endogenous money theories. We are seeking contributions from a wide range of theoretical approaches, including but not limited to the various strands of post-Keynesian, neo-Schumpeterian and other heterodox schools of economic thought. Papers may present innovative research using empirical, theoretical, or historical methodologies.

Some of the relevant topics to be explored include:

The issue is planned for April 2024. All papers will undergo a double-blind review process.


Please submit a letter of interest, with title and abstract of paper via the online submission system. For more information please visit the official website.

Sumbission Deadline: 31 August 2022

Ukrainian Association of International Economics: Conference on “Transition processes in Ukraine after the Russian-Ukrainian war: interdisciplinary evaluations” (hybrid, Nov. 2022)

24-25 November 2022 | Kyiv, Ukraine and online

Conference Theme: “Transition processes in Ukraine after the Russian-Ukrainian war: interdisciplinary evaluations”

Ukrainian Association of International Economics invites to the conference “Transition processes in Ukraine after the Russian-Ukrainian war: interdisciplinary evaluations” to be held in Kyiv at 24-25 of November 2022 (on-line), language of conference is Ukrainian and English.

From the Heterodox community, we seek to grather new approaches to transformation processes in Ukraine.

The Problems for discussions in framework of transition and heterodox methodology:

І. Economy. Renewal of the economy on an advanced social-ecological and information-digital basis. Creation of economic, financial, intellectual, and psychological conditions for the development of the economy within the optimal timeframe, taking into account domestic needs and external demand for domestic products.

II. Policy. The transformation of domestic politics is focused on further consolidation of the integrity and cohesion of the Ukrainian nation, acquiring new mentalities that were demonstrated during the war. Active participation in European and global geo-economic and geo-political processes, proposals for improvement of the system of world governance, which was formed as a result of World War II, the Yalta and Potsdam agreements, and is not in line with current realities.

III. The social sphere. The first task of the social sphere in the post-war period is to develop effective mechanisms by making appropriate changes to the legislation to support families that have suffered human losses, loss of housing and other immovable property. In the process of economic renewal and increase of multifactor productivity, the level of wages in Ukraine must reach the level of the neighboring countries (Poland, Slovakia).

IV. Humanitarian policy: education, science, culture and art, religion.

Education. Transformation of educational space at all levels according to key criteria and indicators is getting closer to the norms, standards and institutional mechanisms of the European Union.
Science. Ukrainian science is faced with the task of comprehending the transition, an objective overview of the events of the Russian-Ukrainian war, its socio-economic, military-political and humanitarian consequences.
Culture. The first post-war priorities are the restoration of cultural centres (theatres, museums, libraries, monuments to national heroes, etc.) destroyed by the occupiers.
Religion. In the sphere of religion, to strengthen the positive tendency of the transition from the Moscow Patriarchate to the Ukrainian Orthodox Church and to continue the evolutionary process of church unification.


Abstracts for the online conference have to be provided before 01.11.2022. Maximum 200 words. It has to be approved by the scientific committee 15.11.2022
Email for applications: marynahmara@gmail.com

For more information please visit the official website.

Submission Deadline: 01 November 2022

Call for Participants

24th ESHET Summer School in History of Economic Thought (Strasbourg, August-September 2022)

August 29 – September 2, 2022 | Strasbourg, France

We are pleased to announce that the 2022 ESHET Summer School will take place in Strasbourg. It is organised by BETA (University of Strasbourg, CNRS, University of Lorraine) and PHARE (University of Paris 1 - Panthéon-Sorbonne), with the support of the European Society for the History of Economic Thought (ESHET), the University of Strasbourg, the University of Paris 1, the Association Charles Gide pour l’Etude de la Pensée Economique and the Associazione italiana per la storia dell’economia politica (STOREP). The ESHET Summer School is open to PhD students and young scholars (PhD degree obtained after January 2020) in History of Economic Thought, Economic Philosophy or Economic History. Approximately 25 proposals will be selected for presentation, in face-to-face. Previous ESHET Summer Schools have taken place in Paris (2021), Porto (2019), Thessaly (2018) and Como (2017). The full list of past ESHET Summer Schools is available on the ESHET website.

Topic of invited lectures: “Inequality and social justice in economics and beyond”

The topic is in line with those of previous Summer Schools. The aim is to bridge the history of economic analysis with more contemporary theoretical reflections, with a particular emphasis on interdisciplinarity in economics. The two (strongly correlated) issues of social justice and inequality are a major preoccupation in the humanities. Social justice is commonly described as the set of norms that define the distribution of resources among the members of a group, and is often referred to as distributive justice. However, the outcome of such a distribution depends on the notion of social justice we retain, which determines the distribution in itself, but also on what resources the society aims to allocate among its members (equalisandum). These two factors ultimately determine the inequalities which are observed in a society. Yet why is it so difficult to describe what equality is, and to fully subscribe to it? Tocqueville denounces the “ardent, insatiable, eternal, invincible” passion that democratic peoples have for equality, a passion that can ultimately make them prefer equality over liberty. Identifying a phenomenon of “liberticidal equality”, Tocqueville underlines the difficulty of setting up a just society. In short, one of the main questions in social justice (if not the main) is how to reconcile equality and freedom. As Rawls formulates it in Political Liberalism (1993), “How is it possible for there to exist over time a just and stable society of free and equal citizens, who remain profoundly divided by reasonable religious, philosophical, and moral doctrines?” Besides, isn’t the old socialist question about the unequal ownership of the means of production still relevant in our now democratic societies? These are some of the central questions that our modern societies are trying to answer. The aim of this Summer School is to provide young researchers with a theoretical background that could help them think about these issues and appreciate the multiple challenges of economic policy they raise. The topic of social justice is to be studied through different perspectives, historical, normative, and positive. An interdisciplinary perspective will also be considered (philosophy, law, and sociology).

IMPORTANT REMARK. Lectures given by senior scholars will deal with issues related to social justice, but there is no specific topic for the participants of the Summer School. PhD students and young scholars are welcome to send proposals on any topic in the History of Economic Thought, Economic Philosophy or Economic History.

Structure of the Program


Contributions will be selected from extended abstracts in English of 500 to 1000 words, or full-paper proposals of up to 7500 words. Abstracts (or full papers), a CV, and a letter of recommendation from a supervisor, are to be sent to Herrade Igersheim at igersheim@unistra.fr

Important dates

Venue and accommodation

The Summer School pays for hotel accommodation (four nights, check-in on the 29th of August, checkout on the 2nd of September), daily breakfast and lunch, as well as coffee breaks, social events, and the gala dinner on the 1st of September. Participants are however expected to make their own travel arrangements and pay for their travel costs. There is no registration fee.

Sessions will take place at the Pôle Européen de Gestion et d’Economie (PEGE), 61 avenue de la Forêt Noire, 67000 Strasbourg. Students will be allocated individual rooms in the Centre Culturel St Thomas (2 rue de la Carpe Haute, about 20 minutes walk from the PEGE).

Local Organising Committee

Please find more information in the next links: website and summer school page.

2nd Modern Money Theory Summer School (Poznan, Aug. 2022)

10-14 August 2022 | Poznań, Mostowa 10 Street, Poland

The second edition of the MMT Summer School in Poznań is intended for economics students, PhD students, practitioners and early-career researchers interested in the Modern Monetary Theory. We provide an international learning environment for those interested in deepening their knowledge of the modern money: its origins, the notion of tax-driven money, inflation, modeling MMT’s price theory, and the MMT-based policy proposals, such as Job Guarantee and Green New Deal. The School is a hybrid event that features mostly in-person lectures, a special event as well as two online lectures.

School’s confirmed speakers:

1. Dirk Ehnts (Technische Universität Chemnitz)

2. Steve Keen (University College London)

3. Alexander Valchyshen (University of Missouri-Kansas City)

4. Yeva Nersisyan (University of Missouri-Kansas City)

5. James Juniper (University of Newcastle)

6. Iwo Augustyński (Wroclaw University of Economics and Business)

7. Sam Levey (University of Missouri-Kansas City)

Online lectures by:

1. L. Randall Wray who will speak on „The Value of Money”

2. Steven Hail who will deliver a lecture on „Modern Monetary Theory and Ecological Economics”

Deadline for applications: 8 July, 2022

For more information check our event on facebook as well as our website.

9th International Research Conference on Social Economy (Seoul, July 2023)

4-6 July 2023 | Seoul, South Korea

The International Centre of Research and Information on the Public, Social and Cooperative Economy (CIRIEC) invites scholars to participate in their 9th annual conference on Social Economy. The 2023 edition includes panels on the following sub-topics:

Please visit the conference page for more details and updates related to calls for papers.

CPERN mid-term workshop: "Critical Political Economy for a new Global Political Economy" (Limerick, July 2022)

22–23 July 2022 | University of Limerick, Limerick, Ireland

The Global Political Economy is now described, depending on who describes it, as “over-stimulated”, “scarred”, “squeezed”, “unsustainable”, or “jammed up”. Commentators routinely cite the threat of stagflation. The (post-)pandemic recovery is considered “K-shaped”, with assets inflated, to the benefit of asset holders, whilst livelihoods are (further) degraded. Governments have so far failed to put in place a global Green New Deal. The pandemic has exposed the recklessness of decades of austerity, commercialisation, and under-funding of our health and social care systems. While the populist zeitgeist seems to be waning, its successor on the horizon is yet more tepid neoliberal centrism that seeks only to deter those who hope for egalitarian alternatives. Likewise, within academia, efforts continue to sideline, discourage and, if possible, eliminate critical thinking and our ambitions for social change.

We need a new Global Political Economy, and we need critical political economy to provide the intellectual, methodological, analytical and strategic tools through which to conceptualise, explain and critique the multiple crises we face. The aim of our next CPERN mid-term workshop is therefore: a Critical Political Economy for a new Global Political Economy.

The CPERN mid-term workshop is the mid-term workshop of the Critical Political Economy Research Network (RN06) of the European Sociological Association. More details and the full programm are available online.

Graz Schumpeter: Nancy Cartwright on "Economics, queen of the social sciences?" (Graz, Nov 22)

7-9 November 2022, Festsaal, Meerscheinschlössl, Mozartgasse 3, 8010 Graz.

Perhaps economics is queen. But if she wants to be ‘fruit-bearing’ -- not just ‘light-giving’ -- she will have to muck in with a motley crew of other sources of social knowledge and social understanding. These lectures will focus not on what we can know in economics but on how what we can know in economics can help in effecting changes in the social world. The lectures will address issues of causal modelling and causal inference and investigate what kinds of evidence can support these. They will explore the limits of rigour and defend the need for interdisciplinarity, tackling the vexed question of what to do when rigour runs out, as it so soon does. In the last decade and more, randomised controlled trials (RCTs) have become the gold standard for causal inference throughout evidence-based policy. They have also made big inroads in economics, especially in development economics. They are praised for the rigour with which they control for statistical bias in data used for causal inference.

I will look in detail at RCTs as an illustration of how soon rigour gives out when we need to choose what to do, with examples from development economics and other policy areas. A second place that economics can be led astray by the charms of rigour is in the use of probabilities, which are endemic in the field. In his 1965 book, The Logic of Statistical Inference, the philosopher Ian Hacking urged that probabilities can only be generated by chance setups. In my 1999 book, The Dappled World: A Study of the Boundaries of Science, I argued that not much of the world that we want to use economics to study can be reliably modelled as a chance set up. And the economists John Kay and Mervyn King in their recent book on decision making under radical uncertainty argue that probabilities only apply in small worlds, which I take to be settings that can be modelled by Hacking’s chance setups. Reasoning with probabilities can indeed be rigorous but these authors are this rigour does not reach to much of the large world that we want economics to inform us about. Failing some set of credible rigorous methods for predicting what will happen if we intervene and thereby deciding what to do to effect change, what can we do instead? One option is to produce what I call context-centred single case causal models geared for the setting at hand. In aid of understanding how to provide warrant for such models, I will propose a template for context-centred causal maps. These maps are intended to diagram a variety of different kinds of evidence that all told can support credible models for making predictions about the case at hand. But such a body of evidence can only be vouchsafed by a mix of different methods from different disciplines and different knowledge sources. Hence the need for the motley crew.

So, when it comes to effecting changes in the world, the social sciences are not a pyramid with economics at its apex. Rather they are more like a giant Meccano set with different kinds of pieces to be assembled anew each time for each new setting, where every labourer is equally worthy their hire.

For further information please visit the website.

MMT 2nd Summer School (Poznań, August 2022)

10-14 August 2022 | Poznań, Poland

The MMT 2nd Summer School takes place this year in Poznań. The School is jointly organised by Edward Lipinsky Foundation for promoting pluralism in economics and Heterodox publishing house. The School is intended for economics students, PhD students, practitioners and early-career researchers interested in the Modern Monetary Theory. We provide an international learning environment for those interested in deepening their knowledge of the modern money: its origins, the notion of tax-driven money, inflation, modeling MMT’s price theory, and the MMT-based policy proposals, such as Job Guarantee and Green New Deal. The School is a hybrid event that features mostly in-person lectures, a special event as well as two online lectures. The participants will improve their critical thinking and analytical skills by attending lectures on modeling economic cycles, complexity and MMT in Minsky.

Confirmed speakers:

Over five days, participants will have an opportunity of attending lectures, presenting their views and ideas, as well as discussing them with highly competent faculty. They will also take part in the special event that focuses on the climate crisis and how we can pay for a Green New Deal from the MMT perspective. The participants will also improve their critical thinking and analytical skills by attending lectures on modeling economic cycles, complexity and MMT in Minsky.

Application procedure

We encourage all prospective participants to send us a short Letter of Application (max. 600 words) along with a short CV. Application letter should cover three areas: (i) your economic and possibly research interests; (ii) personal statement outlining your interest in the Summer School; (iii) how did you learn about the MMT.

To apply for the MMT Summer School please follow this link. Applicants will be informed about the acceptance decision in mid July 2022.

For more information, please contact the Organizing Team through email:

The programm and the full call for applications are available here.

Application deadline: 8 July 2022

Summer School on Agent-Based Stock-Flow Consistent (AB-SFC) modelling (Ancona, Sept. 2022)

12-16 September 2022 | Ancona, Italy

The Marche Polytechnic University (Ancona) is organizing a summer school on Agent-Based Stock-Flow Consistent (AB-SFC) modelling from the 12th to the 16th of September 2022. The school will use a "hands-on" perspective: each frontal theoretical lecture will be followed by a laboratory in which the students will have the chance to work firsthand on codes supported by the lecturers of the school. The summer school was conceived for PhD students but it is open to young scholars.

The aim of the school is to help the students start developing the bulk of skills required to become autonomous researcher in this field. The importance of interaction is one of the key insights of the agent-based approach, accordingly the organization will also include numerous occasions for the students to interact and collaborate with one another and with the lecturers to discuss their ongoing researches.

The school is free: the students will be provided with coffee breaks, lunches, and a social dinner. Travels and accommodations are at the expenses of the students.

How to Apply

Send a CV, a short motivation letter, and a cover letter by your supervisor to absfc2022@gmail.com.

The school is organized by the Department of Management (DiMA) of the Università Politecnica delle Marche, in collaboration with the Department of Economics (DiSES). For more information please visit the official website.

Application Deadline: 10 July 2022

Conference Papers, Reports, and Podcasts

Recordings from the Second Workshop of Structuralist Development Macroeconomics Research Group (SDMRG)

The II International Workshop of the SDMRG ended on friday, june 10. We had 190 people registered at the workshop and 23 papers presented in 7 ordinary sections. We had 3 keynote speakers and 4 special sections. In behalf of the group I would to thanks for PKES for make the divulgation on the event in its workshop. Special thanks to Karster for doing it. I also like to than to the Federal Council fo Economics (COFECON), Regional Council of Economics of Federal District (Corecon-DF) and Federal Council of Economics of the State of Goias (Corecon-Go) for institutional ant technical support. Finally I want to thank Franch Development Agency (AFD), Embassy of India to Brazil and Town Hall of Pirinopolis for organizig three special sections on the workshop

A special section of the PSL QR with the papers of the keynote speakers and some of the special sections will be published soon, also a special section of PAP (Práticaas de Administração Pública) from the Federal University of Santa Maria will be published with a selecta of the papers presented in the ordinary section.

Below you can ve the links to see the key-note spreakes, special and oridnary sections:

Job Postings

EDHEC-Risk Climate Impact Institute, France

Job title: Senior Economist (Senior Research Engineer Position) – Green Finance Policies for Climate Mitigation and Adaptation

We are looking for a senior research engineer in macroeconomics and/or financial economics for a full-time and permanent position to commence on 1 September 2022 (start date flexible). The researcher will join the EDHEC-Risk Climate Impact Institute (preferably) in Nice, France, to work on green finance and policy evaluation. The successful candidate will join the “Impact of Finance on Climate Change Mitigation and Adaptation” research programme and work under the direct supervision of Irene Monasterolo, PhD, Professor of Climate Finance at EDHEC Business School. The candidate will join a growing, vibrant team of researchers in climate finance with a track record of academic publications in the field. The candidate's work will contribute inform financial supervisors, development finance institutions and the financial industry on issues related to climate financial risk assessment and management.

Main tasks:

Your profile:

Terms and conditions are competitive. The salary will be determined according to the School pay scale, based on the candidate’s qualifications and prior experience.

To apply, please send your CV and a cover letter to the attention of Irene Monasterolo and email.

Please find more information here.

Austrian Academy of Science, Austria

Job title: PhD Student Position (f*m)

The Vienna Institute of Demography (VID) of the Austrian Academy of Sciences (OeAW), Austria’s leading non-university research and science institution, researches the demographic development in all its dimensions in Austria, Europe and the world and deals with its effects on society, economy and environment. The VID is offering a PhD Student Position (part-time / 30h per week) to join the research group on Economic Demography in the team of the project “Reducing Inequality Within and Across Generations” (RIWAG) funded by the OeNB Anniversary Fund for a duration of up to 2 years.

Project description

The candidate will work on the project “Reducing Inequality Within and Across Generations” (RIWAG). The aim of this project is to provide a unified framework for studying and mitigating the economic and demographic consequences of increasing inequality not just in respect to income and wealth but also in respect to health and longevity.

Description of the position

The candidate will conduct collaborative research on intra- and intergenerational inequality over the individual life-course from an economic-demographic perspective. The position aims at the continuation and further development of an ongoing research project with tight cross-collaboration across institutions: Vienna Institute of Demography (OeAW), Wittgenstein Centre for Demography and Global Human Capital (IIASA, OeAW, University of Vienna), TU Wien and the International Institute for Applied Systems Analysis (IIASA).

Your tasks

Your profile

Application Process

The start of employment is September 1, 2022. For this position we offer an annual gross salary of € 32.297,58 according to collective agreement of the Austrian Academy of Science. Please send your application including a cover letter, CV with names and recommendation of two academic referees, a letter of motivation, a sample of relevant work, degree certificates via e-mail to barbara.simunics@oeaw.ac.at (mentioning Job ID: VID074DOC222) no later than June 24, 2022. Job interviews will take place either physically or via video call. For further information please visit the official website.

Application Deadline: 24 June 2022

Europa-University Flensburg, Germany

Job title: Research Assistant / PhD candidate

The International Institute for Management and Economic Education (IIM) at Europa-Universität Flensburg seeks to fill the following position by October 1, 2022: Research Assistant (d/m/w) in the Department of Pluralist Economics

An extension of up to three additional years is possible. The department intends to increase the scope of the position should third-party funding become available.

Thematic orientation

The Department of Pluralist Economics was founded in October 2021 and works on a broad range of topics using theories and methods from different economic and social science research paradigms. It is urgently desired that the future holder of this position collaborates with the departmental team to make a substantial contribution to the field of pluralist economics. Possible topics for the doctorate would include:

Methodologically, both theoretical and empirical (e.g., econometric) work are possible. If you are unsure whether your interests fit the research agenda of the department, please do not hesitate to consult the department homepage first and, in case of doubt, ask Claudius Gräbner-Radkowitsch directly. Interdisciplinary research approaches are explicitly welcome.

Please find more information here.

Application Deadline: 10 July 2022

King's College, UK (1/2)

Job title: Lecturer in International Political Economy with a specialism in Heterodox Economics

The Department of European and International Studies is recruiting a Lecturer in International Political Economy with a specialism in Heterodox Economics. The post is open in terms of theoretical approach or research topic within the field of heterodox economics, the desire is for methodological expertise in quantitative skills and/or applied statistics. In particular, the post holder is expected to contribute to the teaching of International Economics, Applied Quantitative Methods and/or Applied Statistics, particularly for the BAs in European Politics and International Studies and the MA in International Political Economy offered by the department and the BA in International Relations to which the department contributes. The post holder will contribute to research-led teaching at UG and PGT levels, contribute to advancing the department’s research culture and grant capture efforts, and work well with others in the department and across the School and Faculty.


All interested and qualified candidates should visit the posting page for more information and application instructions.

Application Deadline: 30 June 2022

King's College, UK (2/2)

Job title: Lecturer in International Political Economy Education

The Department of European and International Studies is recruiting an AEP Lecturer in International Political Economy. The post is open in terms of theoretical and disciplinary background, the desire is for expertise in the political economy, public policy and/or politics of Europe and/or the European Union. In particular, the post holder is expected to contribute to the delivery of the BA European Politics and the BA European Studies. The post holder will contribute to research-led teaching at UG and PGT levels, contribute to advancing the department’s research culture and grant capture efforts, and work well with others in the department and across the School and Faculty.


Interested and qualified candidates should visit the posting page for more information and application instructions.

Application Deadline: 26 June 2022

Open University, UK

Job tile: PhD studentship at The Open University Business School

The Open University Business and Law Schools invite applications for a number of full-time fully or partially funded PhD studentships beginning 1 February 2023. Fully funded PhD studentships are based on full-time study for three years at the Milton Keynes campus. Full-time students are expected to live within commuting distance of Milton Keynes. Studentships cover tuition fees, a generous research training support grant and a stipend (circa £15,609 per annum) for 36 months.

We would like to highlight the call for submission to our project titled "Asset management over the long run: UK investment trusts after the 1930s". The project sits within the study of the history of portfolio diversification, which is innate in the nature of the circuit of capital. The project also relates to the history of financialization and financial innovation, with a strong potential to contribute to the debates on the political economy of finance. The successful candidate will have the chance to work with historical archives and become familiar with several episodes of economic history and financial instability, as well as with the literature on the major historical shifts in the international financial system.

Please see website and Asset management over the long run - UK investment trusts after the 1930s or please write to Daniele Tori.

Application Deadline: 13 July 2022

The College of New Jersey, US

Job title: Visiting Assistant Professor


To enrich education through diversity, The College of New Jersey is an Equal Opportunity Employer. The College has a strong commitment to achieving diversity among faculty and staff, and strongly encourages women and members of underrepresented groups to apply.

Visiting Instructor - Economics
School of Business
Academic Year 2022-23

The Department of Economics at The College of New Jersey seeks applications for a visiting instructor position for academic year 2022-2023. The applicant is expected to teach principles of Micro- and Macroeconomics, as well as bring teaching and/or research experience relevant to American and/or European Economic History.

A Ph.D. with independent teaching experience is preferred, but ABD candidates and candidates with a Master's degree and strong relevant experience will also be considered. A commitment to undergraduate education and a desire to serve as an adviser on student research projects is expected.

Employer Qualifications:

Final offer of employment is contingent upon the successful completion of background check and reference checks COVID-19 Testing and Compliance - The College has a mandatory COVID-19 vaccination requirement. To learn more, please read the policy here: COVID-19 Requirements and Protocols.

About the College

The College of New Jersey is widely recognized as an outstanding public college that attracts an exceptional student body. The School of Business offers an AACSB-accredited undergraduate business program to over 1,300 majors. We are located on a beautiful suburban campus that is easily accessible to both New York and Philadelphia. For further information, please visit our website.

The College of New Jersey is committed to creating a diverse community that supports its faculty, students and staff. All members of the TCNJ Campus Community share a responsibility for creating and sustaining a learning environment where difference is valued, equity is sought, and inclusiveness is practiced. The College of New Jersey is an equal opportunity employer and encourages applications from women and minorities.

To Apply:

Please submit the following online through the TCNJ college employment page: cover letter describing your interests in the position, your curriculum vitae, statement of your teaching philosophy, evidence of teaching effectiveness, graduate transcript, contact information of three references, and a recent sample of your scholarly work. TCNJ Employment Home Page.

Please find more information here.

University of Greenwich, UK

job title: PhD Position in Economics

University of Greenwich is happy to announce a new and unique opportunity to study for a funded PhD in Economics at the University of Greenwich Business School, while working as a Trainee Economist in Unite’s exciting new investigative research department. The application deadline is 4 July 2022 and interviews will be held on 11 July 2022. Candidates are required to submit a Research proposal of 1500 words (excluding references) with their application. This role is being advertised internally and externally. Applications are encouraged from people who are under-represented in the union. We actively encourage women, Black and Asian Ethnic minorities, disabled and LGBT people to apply.

Application Process

Interested applicants are invited to apply by clicking on the green “Apply Now” button online. A copy of the Job Description and Person Specification can be found in the documents section. For any queries, please email recruitment@unitetheunion.org. Please note that the candidates are encouraged to submit a research proposal of 1500 words (excl. references). Potential candidates are encouraged to get in touch with the first supervisor of the PhD, Prof. Ozlem Onaran (O.Onaran@greenwich.ac.uk).

Application Deadline: 04 July 2022

University of Porto, Portugal

Job title: Assistant Professor - Economics

Professor Maria de Fátima de Sousa Basto Vieira, Full Professor at the Faculty of Arts, Vice-Rector of the University of Porto:

Following my order dated 20th May 2022, by delegated power under the Ordinance no. 8378/2021 published in the Official Gazette, 2nd. Series, no. 164, of 24th of August 2021, we are currently inviting applications for the position of an Assistant Professor in the area of Economics of the Faculty of Economics of this University.

The application procedure will remain in force for a period of thirty business days as from the date immediately following the publication of this Notice in the Official Gazette.

The applicable legal provisions are as follows:

Articles 37 to 51, 61º and 62-A, of the University Teaching Career Statute (ECDU), published in DecreeLaw no. 205/2009, of 31 August, and amended by Law 8/2010, of 13 May; Regulation on Competition for the Recruitment of Full, Associate and Assistant Professor of the University of Porto – Order no 12913/2010, published in the Official Gazette, no. 154, of 10 August and Determination (extract) No 380/2019 which published the Regulation on Competition for the Recruitment of Full, Associate and Assistant Professor of the University of Porto, published in the Official Gazette, no. 64, of 1 april.

Eligible candidates:

Selection process:

Selection Criteria
Absolute merit approval criteria:

Please find more information here.

Application Deadline: 21 June 2022.

University of Warsaw, Poland

Job title: Assistant Professor / Postdoctoral Researcher in Science of Science (3 positions available)

We are looking for an assistant professor or a postdoc researcher in the field of scientometrics, science of science, research policy, science policy, sociology of science, economics of science, or science and technology studies (STS).

Successful candidate will participate in the development of the Science Studies Laboratory at the University of Warsaw.

Three full-time positions are available.

Period of employment: 36 months: the first contract for 12 months, extended for another 24 months after a positive evaluation (strong prospects of extension to a tenure-track after 36 months, depending on performance and available funding).

Position available: August 2022 (the starting date is negotiable but no later than January 2023).

Closing date for applications: 29.06.2022 (Warsaw time).

Job description and responsibilities:

Key requirements:

Desired (not required, but candidates meeting these criteria may be preferred):

Please find further information here.

Application Deadline: 29 June 2022


Call for Submissions: E-axes Forum awards

The E-axes Forum is a non-profit research organization on macroeconomic policies and sustainability. The E-axes Forum awards an annual prize for outstanding research conducted by young scholars on a topic related to the Forum’s mission.

The topic of this year’s prize is: “Challenges Climate Change Poses for Central Banks”

Topics of interest include, but are not restricted to:

The prize amount is $5,000 and is intended to support the recipient(s) in their research activities. The total cash award is the same for both single and co-authored papers.

Prize award criteria: E-axes Forum will assess papers using three selection criteria: i) innovative thinking and scientific merit, ii) implications for policymakers, and iii) relevance to the themes described above.

Eligibility requirements: The prize is intended to support young researchers in their early career development. Eligible candidates must either have completed their PhD in 2015 or later; or are completing their PhD in 2022-2023. Applicants must submit a completed but unpublished paper.

Submission procedure: Applications with completed papers and a CV should be submitted by email to prize@e-axes.org by midnight EDT on September 30th, 2022. The winner of the award will be announced on November 28th. The winner(s) will present their paper during a webinar on December 5th, 2022.

Find more information on the official website here.

Submission Deadline: 30 September 2022

Call for Submissions: GAIA Masters Student Paper Award 2023

The international journal GAIA – Ecological Perspectives for Science and Society invites Masters students to participate in the GAIA Masters Student Paper Award. Masters students are encouraged to submit their results from research-based courses or Masters theses in the field of transdisciplinary environmental and sustainability science. Every year, one article will be selected by a jury as the winner of the GAIA Masters Student Paper Award.

The award is meant to honor research

The winner will be granted

The winner may also be encouraged to submit his/her paper for publication in GAIA. The GAIA Masters Student Paper Award will be presented on the occasion of the GAIA Annual Meeting, held every spring at different locations.


Please find more information here.

Submission Deadline: 28 November 2022


Contributions to Political Economy 41 (1)

John Eatwell: Economic Theory and Empirical Evidence

Theodore Mariolis; Panagiotis Veltsistas: Zero Measure Sraffian Economies: New Insights from Actual Input–Output Tables

Jacobo Ferrer-Hernández; Luis Daniel Torres-González: Some Recent Developments IN The Explanation of The Empirical Relationship Between Prices and Distribution

Anwar Shaikh: Marx, Sraffa and Classical Price Theory

Fabio Petri: What Remains of the Cambridge Critique? On Professor Schefold's Theses

Bertram Schefold: What Remains of the Cambridge Critique? A New Proposal

Harvey Gram: After the Cambridge Controversies: Reflections Old and New

Edward Nell: Do Linear Wage-Profit Equations Support Neoclassical Theory?

Amit Bhaduri: Capital Theory and Effective Demand

Donald J Harris: Capital, Technology, and Time

Ecological Economics 199

Daniel Bergamo, Olivia Zerbini, Patricia Pinho, Paulo Moutinho: The Amazon bioeconomy: Beyond the use of forest products

Nicholas Irwin, David Wolf: Time is money: Water quality's impact on home liquidity and property values

Idiano D'Adamo, Massimo Gastaldi, Piergiuseppe Morone: Solar collective self-consumption: Economic analysis of a policy mix

Andreas Roos: Global asymmetries in the rise of solar power: An LCA-based account of ecologically unequal exchange between Germany and China 2002–2018

Janne I. Hukkinen, Jussi T. Eronen, Nina Janasik, Paavo Järvensivu, Roope O. Kaaronen: Coping with policy errors in an era of chronic socio-environmental crises

Guilherme de Oliveira, Gilberto Tadeu Lima: Economic growth as a double-edged sword: The pollution-adjusted Kaldor-Verdoorn effect

Maksym Polyakov, Md Sayed Iftekhar, James Fogarty, Joost Buurman: Renewal of waterways in a dense city creates value for residents

Zhe Yang, Qingqing Li, Wenhao Xue, Zhihua Xu: Impacts of nature reserves on local residents' income in China

Christian Hernández, Gibran Vita: Carbon footprint analysis of household consumption in greater Guadalajara reveal stark socio-spatial inequalities

Per Kristian Rørstad: Payment for CO2 sequestration affects the Faustmann rotation period in Norway more than albedo payment does

Wito Van Oijstaeijen, Steven Van Passel, Phil Back, Jan Cools: The politics of green infrastructure: A discrete choice experiment with Flemish local decision-makers

Markus Hametner: Economics without ecology: How the SDGs fail to align socioeconomic development with environmental sustainability

Stefan Drews, Ivan Savin, Jeroen C.J.M. van den Bergh, Sergio Villamayor-Tomás: Climate concern and policy acceptance before and after COVID-19

Jiarui Zhang, Daniel J. Phaneuf, Blake A. Schaeffer: Property values and cyanobacterial algal blooms: Evidence from satellite monitoring of Inland Lakes

Jingjing Wang: Harnessing natural attenuation to reduce CAFOs nitrate emissions: An integrated modeling approach

Md. Hafiz Iqbal, Ahsan Aziz: Crop selection as climate change adaptation: A study on Koyra Upazila of Bangladesh

Anelí Bongers, Pablo Casas: The circular economy and the optimal recycling rate: A macroeconomic approach

Feminist Economics 28 (2)

Research Article

Mark Paul, Khaing Zaw & William Darity: Returns in the Labor Market: A Nuanced View of Penalties at the Intersection of Race and Gender in the US

Hanna K. Szymborska: The Evolution of Gender Wealth Inequality in the United States in a Changing Institutional Context

Lynda Pickbourn: Is Migration in Africa always a Household Decision? Consensus and Contestation in the Rural–Urban Migration Decisions of Ghanaian Women

Anna Baranowska-Rataj & Anna Matysiak: Family Size and Men’s Labor Market Outcomes: Do Social Beliefs About Men’s Roles in the Family Matter?

Hasan Tekgüç & Bengi Akbulut: A Multidimensional Approach to the Gender Gap in Poverty: An Application for Turkey

Özlem Onaran, Cem Oyvat & Eurydice Fotopoulou: A Macroeconomic Analysis of the Effects of Gender Inequality, Wages, and Public Social Infrastructure: The Case of the UK

Felix M. Muchomba & Neeraj Kaushal: Gender Differences in Immigrant Assimilation Activities in the US: Evidence from Time-Use Data

Vivek Pandey & Abhishek Gupta: Can Multi-Sectoral Development Interventions Boost Livelihoods and Women’s Labor Supply? Evidence from NRLM in India

Ragui Assaad, Caroline Krafft & Irene Selwaness: The Impact of Marriage on Women's Employment in the Middle East and North Africa

Jennifer C. Olmsted & Edward A. Sayre: Gender and Mandated Benefits: The Impact of Israeli Reserve Duty on Wages

Jing Liu, Liangshu Qi & Yanyan Xiong: Non-Parental Childcare Services and Time Allocation of Mothers with Young Children in China

Radka Dudová: Cash for Care as Special Money: The Meaning and Uses of the Care Allowance in Close Relationships in the Czech Republic



Industrial and Corporate Change 31 (3)

Editor's Choice: Richard R Nelson: The economic system question revisited

Stijn Kelchtermans; Daniel Neicu; Reinhilde Veugelers: Off the beaten path: what drives scientists’ entry into new fields?

Diego Zunino: Influence of genetic factors and institutional environment on entrepreneurial activity: evidence from a twin study in Italy

Hussain Muhammad; Stefania Migliori; Sana Mohsni: Corporate governance and R&D investment: the role of debt financing

Beniamino Callegari; Christophe Feder: The long-term economic effects of pandemics: toward an evolutionary approach

Octavio Escobar; Olivier Lamotte; Ana Colovic; Pierre-Xavier Meschi: Impact of sourcing from the informal economy on the export likelihood and performance of emerging economy firms

Marco Caliendo; Frank M Fossen; Alexander S Kritikos: Personality characteristics and the decision to hire

Xinwei Shi; Christopher Williams; Dylan Sutherland; Ke Rong: Patent- and trademark-seeking outward foreign direct investment by Chinese firms: The role of business group affiliation

Giovanna Magnani; Stefano Denicolai; Bent Petersen: Internationalization, value-chain configuration, and the adoption of additive manufacturing technologies

Shih-Chang Hung; Jiun-Yan Lai; John S Liu: Mapping technological trajectories as the main paths of knowledge flow: Evidence from printers

Filippo Bontadini; Rinaldo Evangelista; Valentina Meliciani; Maria Savona: Patterns of integration in global value chains and the changing structure of employment in Europe

Giacomo Domini; Daniele Moschella: Reallocation and productivity during the Great Recession: evidence from French manufacturing firms

Journal of Post Keynesian Economics 45 (2)

Selwyn Cornish & John Hawkins: Remembering Geoff Harcourt (1931–2021): a post-Keynesian pioneer

Yerin Yu & Jung-In Jo: Financialization of South Korean non-financial firms: an empirical analysis of the impacts on firms’ real and research and development investments

Alice Nicole Sindzingre & Fabrice Tricou: Six forms of hierarchy for a theoretical analysis of capitalism

John T. Harvey: Testing Keynes’ aggregate investment function

Fiona Maclachlan: The case for the public provisioning of the payments system

Ivan Rozmainsky, Yuliana Kovezina & Anna Klimenko: An empirical application of the financial instability hypothesis based on data from the Dutch non-financial private sector

George Pantelopoulos: Cross-border payments, global imbalances and involuntary constraints

Stefano Sgambati: Historicizing the money of account—a rejoinder

Journal of the History of Economic Thought 44 (2)








Daniel Kuehn: Nina Banks, ed., Democracy, Race, and Justice: The Speeches and Writings of Sadie T. M. Alexander (London: Yale University Press, 2021), pp. 320, $30 (hardcover). ISBN: 9780300246704

Ana Maria Bianchi: Michele Alacevich, Albert O. Hirschman: An Intellectual Biography (New York: Columbia University Press, 2021), pp. 352, $35 (hardcover). ISBN: 9780231199827

Mikayla Novak: Peter J. Boettke, The Struggle for a Better World (Arlington: Mercatus Center at George Mason University, 2021), pp. 340, $34.95 (hardcover). ISBN: 9781942951865.

Tiago Mata: Kevin Deane and Elisa van Waeyenberge, eds., Recharting the History of Economic Thought (London: Red Globe Press, 2020), pp. 341, $78.95 (paperback). ISBN: 9781137605245.

Sharmin Khodaiji: Ajit Sinha and Alex M. Thomas, eds., Pluralistic Economics and Its History, First South Asia edition (London and New York: Routledge, 2019), pp. x + 298, $160 (hardcover). ISBN: 9781138090033.

Metroeconomica 73 (3)

Jessica Reale: Interbank market and funding liquidity risk in a stock‐flow consistent model

Simone Marsiglio, Nahid Masoudi: Reclamation of a resource extraction site: A differential game approach

Massimo A. De Francesco, Neri Salvadori: Bertrand–Edgeworth oligopoly: Characterization of mixed strategy equilibria when some firms are large and the others are small

Santiago José Gahn, Alejandro González: On the empirical content of the convergence debate: Cross‐country evidence on growth and capacity utilisation

Takamitsu Kurita, Patrick James: The Canadian–US dollar exchange rate over the four decades of the post‐Bretton Woods float: An econometric study allowing for structural breaks

Gilbert L. Skillman: The Nash bargaining solution in labor market analysis

José Pedro Bastos Neves, Willi Semmler: Credit, output and financial stress: A non‐linear LVSTAR application to Brazil

Leila Davis, Joao Paulo A. de Souza: Churning and profitability in the U.S. corporate sector

New Political Economy 27 (4)

Jean-Baptiste Velut, Gabriel Siles-Brügge & Louise Dalingwater: Rethinking the Dynamics of Inclusion and Exclusion in Trade Politics

Ferdi De Ville & Niels Gheyle: Small Firms as the Main Beneficiaries of Trade Agreements? A Framing Analysis of European Commission Discourse

Jean-Baptiste Velut: Transparency in US Trade Policymaking: Inclusive Design or Exclusionary Process?

Lotte Drieghe, Jan Orbie, Diana Potjomkina & Jamal Shahin: Participation of Civil Society in EU Trade Policy Making: How Inclusive is Inclusion?

Stéphane Paquin: Trade Paradiplomacy and the Politics of International Economic Law: The Inclusion of Quebec and the Exclusion of Wallonia in the CETA Negotiations

Manolis Kalaitzake: Resilience in the City of London: the fate of UK financial services after Brexit

Anna Boucher: ‘What is exploitation and workplace abuse?’ A classification schema to understand exploitative workplace behaviour towards migrant workers

Leonardo Pataccini: Europeanisation as a driver of dependent financialisation in East-Central Europe: insights from the Baltic states

Dimitris Milonakis, Elina Drakaki, Manolis Manioudis & Sergios Tzotzes: Phantom investments, hegemony and the chameleon of dispossession: tourism development at Cavo Sidero- Crete, Greece

Kathleen M. Annarelli: Welfare generosity, credit access and household debt: clarifying relationships through a new welfare-debt typology

Linda Weiss & Elizabeth Thurbon: Explaining divergent National Responses to Covid-19: An Enhanced State Capacity Framework

Stephen Farrall, Emily Gray, Alexander Nunn & Daniela Tepe-Belfrage: Global pressures, household social reproduction strategies and compound inequality

Rethinking Marxism 34 (2)

Étienne Balibar & Translated by David Broder: Reproductions

Fikret Adaman & Pat Devine: Revisiting the Calculation Debate: A Call for a Multiscale Approach

Aaron Benanav: Socialist Investment, Dynamic Planning, and the Politics of Human Need

Hannah Archambault & Luke Pretz: Racial Capitalism, Imperialism, and Negotiated Coordination

Theodore Burczak: Economic Democracy, Democratic Planning, and Human Autonomy: A Comment on Adaman and Devine

Fikret Adaman & Pat Devine: Response to Hannah Archambault and Luke Pretz, Aaron Benanav, and Ted Burczak

Roberto del Valle Alcalá: Utopia against Abstraction: Raymond Williams, Communication, and the Desire of the Common

Regletto Aldrich Imbong: Police Power in the Philippines in the Time of the Pandemic

Pem Davidson Buck: Reflections on the Present Conjuncture

Boone W. Shear & Vincent Lyon-Callo: The Punishment Monopoly: Tales of My Ancestors, Dispossession, and the Building of the United States by Pem Davidson Buck (New York: Monthly Review Press, 2019).

Jude Welburn: Other Englands: Utopia, Capital, and Empire in an Age of Transition by Sarah Hogan (Stanford, Calif.: Stanford University Press, 2018)

Aaron Schneider: Mass Strikes and Social Movements in Brazil and India: Popular Mobilisation in the Long Depression by Jörg Nowak (Cham, Switz.: Palgrave Macmillan, 2019)

Samuel J. R. Mercer: A World beyond Work? Labour, Money and the Capitalist State between Crisis and Utopia by Ana C. Dinerstein and Frederick H. Pitts (Bingley, UK: Emerald, 2021)

Ana C. Dinerstein & Frederick Harry Pitts: Labor, Humanism, and the Play of Mediation: A Rejoinder

Review of Keynesian Economics 10 (2)

Thomas Palley: Theorizing Varieties of Capitalism: economics and the fallacy that ‘there is no alternative (TINA)’

Mark Blyth and Herman Mark Schwartz: In search of varieties of capitalism: hardy perennial or troublesome weed?

Engelbert Stockhammer and Karsten Kohler: Learning from distant cousins? Post-Keynesian Economics, Comparative Political Economy, and the Growth Models approach

Lucio Baccaro and Jonas Pontusson: The politics of growth models

David Soskice: Rethinking Varieties of Capitalism and growth theory in the ICT era

Esteban Pérez Caldentey and Matías Vernengo: Varieties of peripheral capitalism: on the institutional foundations of economic backwardness

Franz Prante, Eckhard Hein, and Alessandro Bramucci: Varieties and interdependencies of demand and growth regimes in finance-dominated capitalism: a Post-Keynesian two-country stock–flow consistent simulation approach

Science and Society 86 (2)

Special Issue: (En)Visioning Socialism IV: Raising the Future in Our Imagination Before Raising It in Reality

Guest Editors: Al Campbell and David Laibman

I. THE S& S Envisioning Socialism Project: Reflections from former Participants

David Laibman and Al Campbell: (En)Visioning Socialism IV: Raising the Future in Our Imaginations Before Raising It in Reality

Pat Devine: Negotiated Coordination and Socialist Democracy

Robin Hahnel: A Participatory Economy: What Have We Learned?

David M. Kotz: The Importance of Envisioning Socialism Today

II. Models and Structures

Enfu Cheng: On the Three Stages in the Development of Socialism

Al Campbell: Moving Beyond Capitalism: Human Development and Protagonistic Planned Socialism

Ingrid Hanon: Work Emancipation and Human Creativity: The Wage-for-Life Alternative

David Laibman: Systemic Socialism: A Model of the Models

III. Perspectives

Paddy Quick: Household Production, Household Activity, and Human Development

Güney Is ̧ıkara andÖzgür Narin: The Potentials and Limits of Computing Technologies for Socialist Planning

Planning for Entropy: Democratic Economic Planning, Social Metabolism and the Environment

Howard Engelskirchen: Value Is Sense-Less: Socialism, Kincentric Community, and the Gift of Philial Labor

Books and Book Series

Digital, Class, Work: Before and During COVID-19

by John Michael Roberts | 2022, Edinburgh University Press

Orthodox Marxist approaches often suggest that exploitation is today embedded across society as a whole. For example, digital corporations exploit us when we use social media, or we are exploited by financial companies when we take on more debt through credit (so-called ‘secondary exploitation’). Digital, Class, Work: Before and During COVID-19 rejects these orthodox approaches in favour of a different Marxist perspective. The book explores class relations in digital work both before and during COVID-19 by carefully distinguishing between different circuits of capital and different class relations of economic exploitation and economic oppression. The book focuses on class relations in distinctive forms of work: ‘productive’ exploited work, e.g. manufacturing; ‘unproductive’ commercial work, e.g. retail; creative work; gig work; and work in the state and public sector.

The book also maps the class relations in these work processes to three types of digital labour: digital labour (or, what is commonly known as platform labour); digitisation of labour (the application of digital technology to everyday work practices); and digitised labour (when automation and smart machines replace ‘real’ workers in an organisation). Situating this analysis within the global realms of neoliberalism and financialisation, and drawing on numerous pieces of data, the book demonstrates how the use of digital technology in many workplaces has broadly promoted the interests of ‘unproductive’ global capital, particularly financial capital, both before and during COVD-19.

Please find a link to the book here.

A Monetary and Fiscal History of Latin America, 1960–2017

by Timothy J. Kehoe and Juan Pablo Nicolini | 2021, Minnesota University Press

The Monetary and Fiscal History of Latin America Project was launched in 2013 by the University of Chicago’s Lars Peter Hansen in his former capacity as the Director of the Becker Friedman Institute and as part of its fiscal policy initiative. Upon the advice of Thomas Sargent, New York University, and former Distinguished Fellow of the BFI, and Fernando Alvarez, University of Chicago, the Institute provided funding and other support for this vibrant project initiated and led throughout by the University of Minnesota’s Timothy Kehoe and the Minneapolis Federal Reserve Bank’s Juan Pablo Nicolini. In supporting and hosting this project, the Institute envisioned an intensive research program to produce a comprehensive monetary and fiscal history of the ten largest countries of South America plus Mexico since 1960. Under Kehoe’s and Nicolini’s leadership, and with the extensive efforts of a large number of scholars with expertise on the macroeconomic experiences of Latin American countries, this project delivered with great success on its initial ambition. The authors of the chapters are country experts who participated in numerous meetings over six years to discuss and receive feedback on their findings that were framed in ways to facilitate comparisons and open the door to novel insights applicable more broadly. Along with the scholarship represented in this book, these economists worked with BFI to create a dynamic database for the eleven Latin American countries under review, which will inform and inspire scholarship for years to come.

Please find a link to the book here.

A Revolutionary for Our Time: The Walter Rodney Story

by Leo Zeilig | 2022, Haymarket Books

Walter Rodney was a scholar, working class militant, and revolutionary from Guyana. Strongly influenced by Marxist ideas, he remains central to radical Pan-Africanist thought for large numbers of activists’ today. Rodney lived through the failed – though immensely hopeful – socialist experiments in the 1960s and 1970s, in Tanzania and elsewhere. The book critically considers Rodney's contribution to Marxist theory and history, his relationship to dependency theory and the contemporary significance of his work in the context of movements and politics today. The first full-length study of Rodney’s life, this book is an essential introduction to Rodney's work.

Please find a link to the book here.

Abolitionist Socialist Feminism: Radicalizing the Next Revolution

Zillah Eisenstein | 2019, MR Press

The world is burning, flooding, and politically exploding, to the point where it’s become abundantly clear that neoliberal feminism—the kind that aims to elect The First Woman President—will never be enough. In her vibrant, politically personal essay, Zillah Eisenstein asks us to consider what it would mean to thread “socialism” to feminism; then, what it would mean to thread “abolitionism” to socialist feminism. Finally, she asks all of us, especially white women, to consider what it would mean to risk everything to abolish white supremacy, to uproot the structural knot of sex, race, gender, and class growing from that imperial whiteness. If we are to create a revolution that is totally liberatory, we need to pool together in a new working class, building a radical movement made of movements.

Eisenstein’s manifesto is built on almost half a century of her antiracist socialist feminist work, in its many iterations. But now, she writes with a new urgency and imaginativeness. Eisenstein asks us not to be limited by reforms, but to radicalize each other on differing fronts. Our task is to build bridges, to connect progressive candidates with environmental activists; striking teachers from West Virginia to Los Angeles with Black Lives Matter and the Black Youth Project 100; gun control advocates with incarcerated people involved in prison strikes; disabled people demonstrating in D.C. with transgender rights people reconfiguring the sexual binary; the #MeToo movement with Standing Rock Water Protectors… The genius force demanding that we abolish white supremacy can also create a new “we” for all of us—a humanity universally accepting of our complexities and differences. We are in uncharted waters, but that is exactly where we need to be.

Please find a link to the book here. A review of the book by Katilin Peters is available here.

Boom and Bust: A Global History of Financial Bubbles

by William Quinn and John D. Turner | 2021, Cambridge University Press

Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently?

In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s.

As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.

Please find a link to the book here.

Bread and Beauty: The Cultural Politics of José Carlos Mariátegui

by Juan E. De Castro |2020, Series: Historical Materialism Book Series, Vol. 217, Brill

Influenced by anarchism and especially by the anarcho-syndicalist Georges Sorel, the political praxis of Peruvian activist and scholar José Carlos Mariátegui (1894–1930) deviated from the policies mandated by the Comintern. Mariátegui saw that new subjectivities would be required to bring about a revolution that would not recreate bourgeois or fascist structures. A new society, he argued, required a new culture. Thus, Mariátegui not only founded the Peruvian Socialist Party, but also created Amauta, a magazine that brought together the writings of the political and cultural avant-gardes.
In the spirit of this approach, Bread and Beauty not only studies the political signifi cance of cultural habits and products; it also looks at the cultural underpinnings of the political proposals found in Mariátegui’s writings and actions.

Please find a link to the book here. A review of the book by Till Hahn is available here.

Digital, Class, Work: Before and During COVID-19

By John Michael Roberts | 2022, Edinburgh University Press.

Orthodox Marxist approaches often suggest that exploitation is today embedded across society as a whole. For example, digital corporations exploit us when we use social media, or we are exploited by financial companies when we take on more debt through credit (so-called ‘secondary exploitation’).

Digital, Class, Work: Before and During COVID-19 rejects these orthodox approaches in favour of a different Marxist perspective. The book explores class relations in digital work both before and during COVID-19 by carefully distinguishing between different circuits of capital and different class relations of economic exploitation and economic oppression.

The book focuses on a number of class relations in distinctive forms of work: productive’ exploited work, e.g. manufacturing; ‘unproductive’ commercial work, e.g. retail; creative work; gig work; and work in the state and public sector.

The book also maps the class relations in these work processes to three types of digital labour: digital labour (or, what is commonly known as platform labour); digitisation of labour (the application of digital technology to everyday work practices); and digitised labour (when automation and smart machines replace ‘real’ workers in an organisation).

Situating this analysis within the global realms of neoliberalism and financialisation, and drawing on numerous pieces of data, the book demonstrates how the use of digital technology in many workplaces has broadly promoted the interests of ‘unproductive’ global capital, particularly financial capital, both before and during COVD-19.

Please find a link to the book here.

Economic Well-Being: An Introduction

by Deborah M. Figart and Ellen Mutari | 2022, NASW Press

An economy is about people and the purpose of an economy is their well-being. This economics textbook is written with this central insight at the core. Economic Well-Being: An Introduction introduces students to modern economics grounded in capabilities theory and empirical economic practice. This modern approach uses social provisioning (rather than scarcity) as a starting point for defining economic life. The text focuses on evolving economic institutions, complex economic behavior, and lively debates that accurately represent pluralist viewpoints. It highlights issues of sustainability, inclusion, and economic justice

While targeting students in social work and other human service careers, it is appropriate for traditional economics majors as well—with economic literacy shown as a useful tool for diverse careers.

Please find a link to the book here.

How to Blow Up a Pipeline: Learning to Fight in a World on Fire

by Andreas Malm | 2021, Verso

Why resisting climate change means combatting the fossil fuel industry. The science on climate change has been clear for a very long time now. Yet despite decades of appeals, mass street protests, petition campaigns, and peaceful demonstrations, we are still facing a booming fossil fuel industry, rising seas, rising emission levels, and a rising temperature. With the stakes so high, why haven’t we moved beyond peaceful protest?

In this lyrical manifesto, noted climate scholar (and saboteur of SUV tires and coal mines) Andreas Malm makes an impassioned call for the climate movement to escalate its tactics in the face of ecological collapse. We need, he argues, to force fossil fuel extraction to stop—with our actions, with our bodies, and by defusing and destroying its tools. We need, in short, to start blowing up some oil pipelines. Offering a counter-history of how mass popular change has occurred, from the democratic revolutions overthrowing dictators to the movement against apartheid and for women’s suffrage, Malm argues that the strategic acceptance of property destruction and violence has been the only route for revolutionary change. In a braided narrative that moves from the forests of Germany and the streets of London to the deserts of Iraq, Malm offers us an incisive discussion of the politics and ethics of pacifism and violence, democracy and social change, strategy and tactics, and a movement compelled by both the heart and the mind. Here is how we fight in a world on fire.

Please find a link to the book here.

Microeconomía heterodoxa: Modelos sraffianos y marxistas

By Gabriel Montes Rojas | 2022, Eudeba.

This book is intended to serve as a supplement to a microeconomics course based on a marginalist or neoclassical textbook. The central topic is the analysis of value and distribution in the so-called nucleus of an economy, based on the consideration of classical economists. The classic model of production prices is first presented in its Sraffian version –in particular, the effect of technical conditions on the models of simple reproduction and the rate of profit, the concept of surplus, and the distribution between capitalists and workers–. An economy with more than one technique, the concept of capital, the Cambridge Capital Controversy, and Wicksell's real and price effects are discussed below. Then Marxist models are studied and the basic concepts of labor value, surplus value and exploitation are defined –in particular, the Marxian fundamental theorem that shows that there is no profit without exploitation–. Within the Marxist framework, the correct way to make the connection between values ​​and production prices is debated, which was called the problem of the transformation of values ​​into prices. Finally, extensions to models of joint production (pure, fixed capital and differential rent for scarce primary factors), preferences and choice over goods, and dynamic models of inflation due to distributive conflict are considered.

Please find a link to the book here.

Sir Robert Geffrye and the Business of Slavery

by Steve Cushion | Hackney Stand Up To Racism and Caribbean Labour Solidarity

The debate over the statue of Sir Robert Geffrye (1613–1703) outside the Museum of the Home in Hackney has opened a window onto the slave trade and its role in the creation of modern Britain. As a successful London businessman and politician, Geffrye’s life well illustrates the early development of capitalism in England and the relationship between the City of London and the origins of imperialism, particularly the importance of the whole business of slavery.

Please find a link to the book here.

The Austrian Revolution

by Otto Bauer, edited by Walter Baier and Eric Canepa | 2021, Haymarket Books

This is the story of the decline and fall of an empire, a region devastated by war, and a world stage fundamentally transformed by the Russian Revolution. Bauer’s magisterial work -- available in English for the first time in full -- charts the evolution of three simultaneous, overlapping revolutionary waves: a national revolution for self-determination, which brought down imperial Austro-Hungary; a bourgeois revolution for parliamentary republics and universal suffrage; and a social revolution for workers’ control, factory councils, and industrial democracy.

The brief but crowning achievement of Red Vienna, alongside Bauer’s unique theorization of an "integral socialism" -- an attempted synthesis of revolutionary communism and social democracy -- is a vital part of the left’s intellectual and historical heritage. Today, as movements once again struggle with questions of reform or revolution, political strategy, and state power, this is a crucial resource. Bauer tells the story of the Austrian Revolution with all the immediacy of a central participant, and all the insight of a brilliant and original theorist.

Please find a link to the book here.

The Mismeasure of Progress: Economic Growth and Its Critics

by Stephen J. Macekura | 2020, Chicago University Press

Few ideas in the past century have had wider financial, political, and governmental impact than that of economic growth. The common belief that endless economic growth, as measured by Gross Domestic Product, is not only possible but actually essential for the flourishing of civilization remains a powerful policy goal and aspiration for many. In The Mismeasure of Progress, Stephen J. Macekura exposes a historical road not taken, illuminating the stories of the activists, intellectuals, and other leaders who long argued that GDP growth was not all it was cracked up to be.

Beginning with the rise of the growth paradigm in the 1940s and 1950s and continuing through the present day, The Mismeasure of Progress is the first book on the myriad thinkers who argued against growth and the conventional way progress had been measured and defined. For growth critics, questioning the meaning and measurement of growth was a necessary first step to creating a more just, equal, and sustainable world. These critics argued that focusing on growth alone would not resolve social, political, and environmental problems, and they put forth alternate methods for defining and measuring human progress.

​In today’s global political scene—marked by vast inequalities of power and wealth and made even more fraught by a global climate emergency—the ideas presented by these earlier critics of growth resonate more loudly than ever. Economic growth appealed to many political leaders because it allowed them to avoid addressing political trade-offs and class conflict. It sustained the fiction that humans are somehow separate from nonhuman “nature,” ignoring the intimate and dense connections between the two. In order to create a truly just and equitable society, Macekura argues, we need a clear understanding of our collective needs beyond growth and more holistic definitions of progress that transcend economic metrics like GDP.

Please find a link in the book here.

Heterodox Graduate Programs, Scholarships and Grants

New Master's in History of Economic Thought at University of Lyon

The University of Lyon announces an upgraded Master's degree in Theory and History of Economics in Society. This is an M2 path of 1 year (full time) from which students can continue onto the PhD program to work on a thesis in history of economics, philosophy of economics, or socioeconomics.

The Theory and History of Economics in Society course aims to provide the tools for a critical and reflective analysis of the statements, methods, and results of economic theories based on historical, socio-economic, and pragmatic approaches. These three perspectives are focused either on the economic theory itself (its founding concepts, its methods, its economic policy proposals, its historical and political foundations), or on its objects and their transformations (institutions of market and non-market relations, labor institutions, and employment relationships, organizations of the capitalist economy and organizations of the social economy, financing and money), or finally on emerging societal debates (economic and social experiments and innovations, collaborative economy, etc.)

Knowledge of French is required as 60% of the courses are in French; the rest are offered in English. The application period starts on June 20 and runs through July 3rd, 2022. Notifications of decisions will be sent out by July 19, 2022. For more information please contact Rebeca Gómez Betancourt (rebecagomez@gmail.com).

Application Deadline: 3 July 2022

PhD studentship at The Open University Business School

The Open University Business and Law Schools invite applications for a number of full-time fully or partially funded PhD studentships beginning 1 February 2023. Fully funded PhD studentships are based on full-time study for three years at the Milton Keynes campus. Full-time students are expected to live within commuting distance of Milton Keynes. Studentships cover tuition fees, a generous research training support grant and a stipend (circa £15,609 per annum) for 36 months.

We would like to highlight the call for submission to our project titled "Asset management over the long run: UK investment trusts after the 1930s". The project sits within the study of the history of portfolio diversification, which is innate in the nature of the circuit of capital. The project also relates to the history of financialization and financial innovation, with a strong potential to contribute to the debates on the political economy of finance.

The successful candidate will have the chance to work with historical archives and become familiar with several episodes of economic history and financial instability, as well as with the literature on the major historical shifts in the international financial system.

For more info, please visit the official website or please write to daniele.tori@open.ac.uk

Application Deadline: 13 July 2022