Heterodox Economics Newsletter

Issue 300 August 15, 2022 web pdf Heterodox Economics Directory

For some obvious reasons the main economic topic of public interest in the Global North these days is inflation, which is somewhat understandable (historically inflation rates have risen strongly), but also somewhat ignorant (as episodes of far higher inflation rates in Global South countries do never capture a similar level of attention). This observation not only illustrates that public attention is often self-serving (sadly, things only get interesting, when we believe they affect us – a trend also visible with regard to climate change & global heating), but – on a slightly deeper level – points to the fact that 'inflation' is an example par-excellence for how economic dynamics and mechanisms are socio-historically contingent. Let me elaborate a little on this point.

In my experience most heterodox economists subscribe to some form of conflict inflation, which is a concept probably worked out most clearly within the post Keynesian tradition. In this view, inflation is generated by distributional conflict, i.e. workers demanding higher wages (with bargaining power constrained by unemployment) and firms setting higher prices (with price-setting power constrained by competition) to increase profits. Now the typical assumption follows, that competition is not that harsh so that the second constraint can be ignored and higher wage-claims, although leading to additional dynamism in wage-led economies, are translated into higher prices as mark-ups are constant.

This view fares well empirically when considering the decades in the Global North since WW II, especially the decline of inflation parallel to the decrease in workers' bargaining power starting in the 1980s aligns well with the theoretical account. Contrasting this approach with the long-prevailing view within the economic mainstream – that inflation is driven by the money supply, i.e. low interest rates – proponents of conflict inflation would probably contend that such 'fresh money' will typically lead to an increase in quantity demanded except in very special cases, where some hard capacity limit (typically: full employment) is reached and prices rise. As so often Joan Robinson summarized the conflict view on this issue nicely by stating that

"prices of manufacturers are quite insensitive to swings of demand, but react quickly to changes in costs." (see here)

So, although I have the conviction that conflict theory has some merits, it should be made clear that in this simple form it is not a socio-historically exhaustive theory, it is not a theory that applies to every time, place and context (and advanced textbook treatments, e.g. here, acknowledge that by including auxiliary factors in the basic conflict model to render it more exhaustive). For instance, before the 20th century consumer price inflation dynamics were typically driven by what conflict theory considers to be an exception – namely hard supply limits – as inflation depended in large part on grain prices, which fluctuated annually due the varying success of harvest. A second example is given by the situation of many countries in the Global South today, where domestic inflation is much more dependent on international factors, like exchange rate development, international financial speculation, perceptions of solvency by the Global North or the price development of imported goods, and, hence, needs a quite different, more multi-causal theoretical apparatus to be effectively understood.

And, of course, conflict theory's counterargument to the allegedly inflation-pushing impact of an increase in money & credit rests on the assumption that any additional funds are spent for consumption and investment goods and not used for buying existing assets motivated by price-speculation. As is now widely discussed the latter might lead to asset-price inflation, which is a somewhat different animal mostly bracketed out by conventional approaches to consumer price inflation.

All these examples can in some way be related to distributional conflict in general and some are even addressed in current research, often based on the conflict model. This indicates that one route to proceed is to make explicit the contingencies that limit the scope of application of the model’s simple version. A very practical reason for emphasizing this aspect is that – akin to my first example above – exogenous geopolitical shifts and necessary ecological restructuring may render the exceptional case of 'hard supply limits' the rule for an extended period of time. While global supply chains might be partially restored in the upcoming months, prices on food and energy will likely remain high due to geopolitical escalation. Similarly, a deliberate phasing out of fossil resources would probably also come with some hard constraints.

What does this all mean for policy? Taking some intuitions from reflecting about the contingencies of conflict theory I would tend to advocate the following:

(1) In terms of lowering inflation, the only sensible thing one could do is to get value chains to run more smoothly again. The obvious alternative to reviving global value chains as operating before Corona, is to engage in heavy reshoring and try to substitute global by local or continental value chains wherever possible.

(2) In terms of ecological restructuring high prices for (fossil) energy are actually part of the solution, not the problem. True is, that these price hikes make us poorer now, but they increase our prospects for long-term survival (which our mainstream friends like to discount radically, but I am not such a kind of guy ;-). In this context, we also observe that a key assumption of the conflict inflation model – that competition is too weak to bring down prices – indeed holds today, as is evidenced by the extraordinarily high profits currently accrued by energy companies. The obvious policy implication here is to tax these extraordinary profits by means of extraordinary taxes, not only to increase fairness in outcomes, but also to ensure that these profits are not used to create further fossil-based assets.

(3) Conflict theory emphasizes the crucial role of distribution in inflation contexts. Building on this intuition I would argue that in the face of current events the most important distributional measure is not the wage share (the post Keynesian's usual favorite ;-), but, rather, the poverty rate. Given that rising prices for many households imply the need to cut down on 'basic needs' – eating, heating, getting to work etc. – support should be primarily directed to those households residing in the lower income strata. The idea here is simple: if we get somewhat poorer on average, we should do all we can to ensure that this burden is not shared equally, but rather, by those firms and households that have the ability to carry it.

All the best,


PS: This is the 300th issue of the Newsletter and originally I wanted to write an editorial celebrating all the efforts of my team, of the past editors, of those institutions that supported us and so on. As you see, I failed as in times like these, long-term considerations and events are often swamped by more short-term concerns, which occupy the mind of the humble students of economics ;-)

© public domain

Table of contents

Call for Papers

Energy Economics: Special Issue on "Energy Shocks and Revival of a Global High Inflation Regime"


Energy shocks have vital implications for the macroeconomy and society, specifically in terms of economic growth, inflation and the environment. This Nexus between the energy shocks and inflation makes the energy price dynamics a crucial factor for the monetary authorities and central banks in achieving their target of price stability. As the global economy had started to recover from the COVID-19 Pandemic that has led to the disruption of global supply chains, inflation has also sharply increased. This sudden and sharp increase in inflation manifested in inflation overshooting official targets in most the economies have brought a whole set of new challenges to the macroeconomic policymakers. Central banks across the world, particularly, the Federal Reserve, the European Central Bank and the Bank of England are facing crucial trade-offs between continuing to maintain an expansionary stance or becoming more hawkish before the inflation gets out of hand. The war in Ukraine and the Saudi-Yemen conflict have fueled the fire resulting in skyrocketing energy prices and exacerbating the relatively stable price regime that prevailed in the last few decades, particularly in the developed world.

Price stability has been the core objective of central banks and monetary authorities. To achieve this objective, several central banks including the big four i.e., the Federal Reserve, European Central Bank, Bank of Japan and the Bank of England have adopted explicit inflation targets. The notion is to achieve price stability by having an explicit and transparent inflation target that can also result in anchoring inflation expectations through increased credibility of the monetary authority. But as it stands, there is a real threat to price stability, especially in the age of surging energy prices where the developed economies' central banks in general and the Federal Reserve, in particular, are contemplating “Tapering”. The contractionary stance by the Fed and major central banks can exacerbate recovery but inaction can put the credibility of monetary authorities at risk. Efforts to overcome the disruptions in the global energy and particularly the oil and gas market require international cooperation. As such, we have not witnessed such coordination that has resulted in surging energy prices. This scenario poses challenges to the economic, price and financial stability, particularly in the countries that are large energy importers. Increasing energy price inflation can also exacerbate the socio-economic inequality due to the differential impact of energy price inflation on different income groups and social classes. Nevertheless, the most pressing existential issue of climate change can also be affected by the rise of energy price inflation and its impact on climate and environmental policy. However, our understanding of these challenges posed by the energy shocks is limited and that limits our ability to prescribe optimal policy stance. Considering the fact that Energy Economics (EE) is an important platform that facilitates the examination of the empirical and theoretical interaction between energy and economy as well as its economic, social, political and organizational implications, this is the most suitable venue for this research. The contributions to the subject calls are expected to yield seminal findings in the field of energy and macroeconomy that will have profound implications for a wide range of stakeholders including macroeconomic, public, social and environmental policymakers.

Objectives and Scope

The objectives of this special issue include the exploration of the nexus between energy shocks and price and socio-economic stability in the age of surging inflation and solutions and toolkits available to the policymakers in managing the challenges. The article collection aims to bridge a knowledge gap among surging inflation and energy shocks by collecting high-quality research papers from a global perspective.

This call for special issue welcomes submissions in the following areas:

Process for reviewing papers:

The authors must select “VSI: Energy Shocks” in the submission process (Article Type Selection).

The selected high-quality research paper submitted will be considered for publication in “Energy Economics”. After the initial screening by the guest editors, the submissions will go through a rigorous double-blind review process. On the compilations of referees’ reports, the editors will make the final decision. The submissions that are found to be internationally excellent in terms of originality, significance and rigour will be considered for publication.

For further information and Submission please visit the website.


Submission Deadline: 31 December 2022

Revised Submission Deadline: 31 June 2023

Acceptance Deadline: 31 December 2023

Forum for Social Economics: Special Issue on "Recent crises and the evolution of European policies" (September, 2022)

The Forum for Social Economics is pleased to invite submissions to a special issue on recent crises and the evolution of European policies. We particularly welcome submissions 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 to Stefano Lucarelli and Marco Rangone and confirm your interest. The guest editor would be happy to receive your suggestions and/or to answer your queries regarding the suitability of your topic. The first step then is to submit an abstract. Please email paper title and abstract (300 words) to the editors no later than 22nd August 2022.

All papers will be subject to double-blind peer review. All papers must be submitted online through the journal website (https://www.tandfonline.com/loi/rfse20). For author guidelines and the submission process, see here.

The European Union and the European Monetary Union still appear to be incomplete institutional structures that struggle to find adequate tools to respond to shocks that may affect the economic systems to which they refer. On the other hand, above all, the last 15 years of European history have been characterized by a succession of very different critical situations - from the so-called sovereign debt crisis to the tensions caused by a resurgence of nationalism, from climate change to the Pandemic to the recent Russian-Ukrainian conflict - which have often exacerbated the asymmetries that pervade the core and peripheral economic systems within Europe.

This special issue of The Forum for Social Economics aims to investigate the actual and potential institutional evolution of the EU and EMU, the assessment of policies that have marked especially the last decade characterized by the continuous succession of crises mentioned above, and the political and economic future of Europe. The call is not only addressed to economists, but more generally to social scientists interested in reasoning about regulatory and historical-institutional aspects useful for the analysis of European policies in the years of the crises.

Research that follows from the above considerations is welcome, for example:

The special issue is tentatively scheduled to be published by the end of 2023.

Important Dates:

Paper title and abstract (e-mail): 12/09/2022.

Communication about abstract acceptance: 19/09/2022

First version of the manuscript due: 10/4/2023.

Final paper due: 11/09/2023.

Application Deadline: 12 September 2022.

ICAPE 2023 Conference (hybrid, January 2023)

In-person portion: Jan. 5, 2023 | Loyola University, New Orleans, 8 AM – 6 PM

Online (virtual) portion: Jan. 13, 2023 | over Zoom, times TBD

Conference theme: Crises and Pluralist Economics—Strategies for a way forward

The global economy continues to be buffeted by a series of crises. First, we have the ebbs and flows of the Coronavirus pandemic, the uneven public health response to the pandemic, and the regular disruptions to supply chains and economic systems. Second, we have the pandemic-related spike in inflation, driven by a variety of complex factors that are currently being debated, and with a variety of potential policy responses to these inflationary pressures. Third, Russia’s war on Ukraine is disrupting global energy and food markets, and reshaping global alliances. Fourth, we have ongoing political disruptions, with the rise of right-wing populism along with a disparate set of progressive groups in opposition, driven in large part by vast global inequality. This has most recently manifested in a far-right U.S. Supreme Court stripping the right to abortion and threatening labor rights and the existing regulatory framework. Meanwhile, we have the ongoing environmental crisis threatening catastrophic change in the near future.

Heterodox and pluralistic mainstream economists are particularly well-suited to analyze crises given their focus on real-world phenomena and the forces behind deprivation and change. This conference is open to papers, presentations, roundtables, and workshops that explore any issues in a heterodox or pluralistic fashion. We are particularly interested in papers that explore the following topics:

ICAPE, the International Confederation of Associations for Pluralism in Economics, is committed to a broad, pluralistic approach to economics. Founding member associations include the International Association For Feminist Economics (IAFFE), the Union for Radical Political Economics (URPE), the Association For Evolutionary Economics (AFEE), the Association For Institutional Thought (AFIT), and the Association for Social Economics (ASE). Submissions from members of these organizations are particularly welcome, as are submissions from any economist committed to a pluralistic approach to the discipline.

We welcome work from all strands of heterodox economic theory, including evolutionary, ecological, complexity, institutional, feminist, Austrian, Marxian, Sraffian, Post-Keynesian, behavioral/psychological, social, radical political, critical realism, agent-based modeling, and general heterodox economics. We are interested in research from any of the perspectives listed above, and research by mainstream economists open to incorporating a pluralistic approach. We are also particularly interested in material from graduate students, sessions on pluralistic teaching, and material on the state of pluralism in economics.

The ASSA/AEA conference is scheduled for January 6-8, 2023 in New Orleans.

We cannot guarantee that all rooms at the in-person conference will have adequate streaming capability, so we are dividing the conference between in-person and on-line components. All in-person presentations will take place on January 5, 2023, and all virtual presentations will take place on January 13, 2023.

All papers and panels must be submitted via the Google Forms below.

Conference registration fee: $140 regular registration, or $70 low income. The registration fee includes a light breakfast, coffee, and a full buffet lunch. Online only registration fee: $70 regular/$35 low income. Scholarships to cover conference registration fees are available to graduate students who are not currently employed full time and who are a member of one of the founding ICAPE associations (AFEE, AFIT, ASE, IAFFE, URPE). All papers presented at the ICAPE conference will be considered for the ICAPE proceedings issue of the American Review of Political Economy. Note that ICAPE does not arrange housing for the in-person portion of the conference. We recommend that you take advantage of the low rates obtained by the AEA for its conference, and that you attend the sessions of ICAPE founding organizations at the AEA conference.

For additional information, contact Geoff.Schneider@Bucknell.edu.

Submission Deadline: 2 September 2022

Symposium: Thinking the Twentieth-Century. Perspectives from the twenty-first century (Coimbra, February 2023)

1-3 February 2023 | Organization Centre for Interdisciplinary Studies – CEIS20, University of Coimbra, Portugal

The Sympiosium "Thinking the Twentieth-Century. Perspectives from the twenty-first century" is taking place at the University of Coimbra in February 2023.

The twentieth century emerged as a problem in different fields of the social sciences and humanities, even before the end of 2000. The coincidence between the end of the century and some of its most emblematic political phenomena – such as communism in Eastern Europe and the Cold War – seemed to reinforce the need for examination and new narratives. The century thus appeared as an ‘age of extremes’ (Eric Hobsbawm) – and twentieth-century Europe as a ‘dark continent’ (Mark Mazower) –, a world of ‘dreamworld and catastrophe’ (Susan Buck-Morss), in-between utopian promise and fall into the abyss, or, to quote the titles of some more recent histories, a journey ‘to hell and back’ (Ian Kershaw), swaying between ‘barbarism and civilization’ (Bernard Wasserstein), in need of a ‘history in fragments’ (Richard Vinen).

As these titles suggest, the century’s dramatic dimension was inseparable, for many, of the narrative forms unfolding throughout the period. It is in this sense that one can speak of ‘modernist events’ (Hayden White), that is, events whose scope requires the creativity of modernism, or of modernist forms themselves as the expression of a century traversed by ‘antagonism’ (Alain Badiou). The image of the century could even coincide with the gaze of a modern art form, cinema (Francesco Casetti wrote about the ‘eye of the century’), or even with one of its most striking artistic techniques, as when Georges Didi-Huberman speaks about montage as the ‘eye of history’ in the twentieth-century.

The twenty-first century itself is often thought and represented in relation to the many versions in which the previous century is seen as ‘the last catastrophe’ (Henry Rousso), a temporal marker of contemporary history. Over the two last decades, historiography, philosophy, political science, the arts, among many other fields, have insistently reflected on the present from the multiple narratives produced throughout the twentieth century or using the twentieth century as its referent. More than a specific historical period, last century is thus constituted as a concept, or imaginary, one that defines forms of political thought and social and artistic representations. Its proximity, on the other hand, the tragic aspects of some of its most recognizable events, along with the proliferation of audiovisual forms traversing it, turn the twentieth century into an object particularly prone to the production of memory and to the deployment of new sources, archives and historical mediations.

The symposium Thinking the Twentieth-Century. Perspectives from the twenty-first century aims to intervene in current debates on the history, memory and heritage of the twentieth century, contributing to diversify and complexify its narratives and representations. It, therefore, invites contributions from multiple fields of research on the twentieth century – and on the relation between the twentieth and twenty-first centuries –, including (but not restricted to) history and memory, art history, cultural studies, literature, philosophy, media studies, pedagogy, digital humanities, economy, social sciences, climate and the environment, sciences and technology, urban studies and mobilities.

Submission Criteria Proposals should be sent in the form of an abstract, between 300 and 500 words, in Portuguese, English, French or Spanish to pensarseculoxx@uc.pt

Deadline for proposals: 18 November 2022

Workshop: Understanding Economic Theory and Development in a Sraffian Framework (Hyderabad, Nov. 2022)

17-19 November | University of Hyderabad, India

Neoclassical economics continues to dominate contemporary economics teaching and research, despite the 2007 Global Financial Crisis posing a serious challenge to the Neoclassical understanding. While there have been several attempts to strengthen alternative approaches to economic theory post the crisis, the attempts have been limited and its impact has remained marginal. In this context, Sraffa’s contribution and its further developments, along with the economic understandings by John Maynard Keynes and Michal Kalecki, offer a coherent theory of value and distribution and an alternative theory of output and economic growth that can be applied in the context of both advanced and developing economies. In the recent couple of decades, much work has been carried out in the areas of monetary economics, public economics, firm theory, capital theory, economic growth, environmental economics using a Sraffian framework. In this workshop, we will engage with Sraffa’s contribution to economic theory and with works that analyze various economic questions in a Sraffian framework. Through this workshop, we will attempt to engage with the logical difficulties of mainstream neoclassical framework and with the Sraffian theory as an alternative framework for understanding contemporary economic processes and economic development.

YSI, in collaboration with University of Hyderabad, Hyderabad and Azim Premji University, Bengaluru, is organizing a two and half days long workshop on:

(i) Sraffa’s contributions to the field of economic theory, notably, value theory and capital theory;

(ii) the influence of Sraffa’s work on applied political economy, particularly in the developing countries; and

(iii) its relevance for enhancing our understanding of the path of economic development in developing economies.

More informatioj on this event can be found here. Deadline for Submission is August 31.

Call for Participants

52nd annual meeting of the History of Economic Thought Society (THETS) (Cambridge, August-Sept. 2022)

31 August - 2 September 2022 | Cambridge, UK

The next THETS conference is finally happening! After two years of postponement, we’ll meet at Fitzwilliam College, University of Cambridge, for a three days conference, from the 31/08 to the 2/09. You’ll find the programme and information on our website.

As it is the tradition, the conference will comprise only plenary sessions and will finish with the survivors lunch on Friday. As part of the conference activities, we will also visit the Phillips Machine currently living its best life at the Marshall Library in the Economics department!

The conference is open to THETS members. There is still some space if you want to join us: follow the information on the website or write to me. The conference will be in-person, except one event that will be hybrid: on the 1st of September, at 5:30 (UK Time), we will live-stream the roundtable on the relations between intellectual history and the history of economic thought that we have co-organised with the Joint Center for History and Economics. You can find more info on the Center here.

We are extremely happy to have the following panelists as part of this conversation: Béatrice Cherrier (CNRS & CREST & Ecole Polytechnique, France), Verena Halsmayer (University of Lucerne, Switzerland), Ben Jackson (University of Oxford, UK) and Emma Rothschild (Harvard University, USA). Pedro Ramos Pinto and I will chair the discussion.

To participate to this event online, please register following this link.

WINIR Conference on Polycentric Governance & the Challenges of the 21st Century (Online, September 2022)

6-9 September 2022 | Online

The WINIR Conference on Polycentric Governance & the Challenges of the 21 Century will be held online over the course of four consecutive afternoons from Tuesday 6 to Friday 9 September 2022 between roughly 12pm and 6.30pm UK time (UTC+1). Over 200 participants from 29 countries spread across 6 continents are expected. We are pleased to release the conference programme.

The conference will take place via Zoom on four consecutive afternoons from Tuesday 6 to Friday 9 September 2022 between 12pm and roughly 6.30pm UK time (UTC+1). Check your time zone. The schedule below is in UK time (BST / UTC+1). We have done our best to accommodate everyone's time zone. Please note that minor changes may still be introduced.

Tuesday 6 September

12:00-12:15   Welcome
12:15-14:15   Parallel sessions 1 (6 x 4 papers)
14:15-14:30   Break
14:30-16:30   Parallel sessions 2 (6 x 4 papers)
16:30-16:45   Break
16:45-18:00   Keynote 1: Elizabeth Baldwin
18:00-18:30   Networking

Wednesday 7 September

12:00-13:15   Keynote 2: Harini Nagendra
13:15-13:45   Networking
13:45-14:00   Break
14:00-15:30   Parallel sessions 3 (5 x 3 papers)
15:30-15:45   Break
15:45-17:15   Parallel sessions 4 (6 x 3 papers)
17:15-18:30   WINIR membership meeting

Thursday 8 September

12:15-13:30   Keynote 2: Tine de Moor
13:30-13:45   Break
13:45-15:15   Parallel sessions 5 (6 x 3 papers)
15:15-15:45   Networking
15:45-16:00   Break
16:00-18:00   Parallel sessions 6 (6 x 4 papers)
18:00-18:30   Networking

Friday 9 September

12:00-14:00   Parallel sessions 7 (6 x 4 papers)
14:00-14:15   Break
14:15-16:15   Parallel sessions 8 (6 x 4 papers)
16:15-16:30   Break
16:30-17:45   Closing panel w/ Elizabeth Baldwin, Harini Nagendra & Tine de Moor
17:45-18:15   Networking

The WINIR membership meeting, which will focus on WINIR strategy, is open to all attendees. The 2022 Elinor Ostrom Prize and the Reviewer of the Year will announced at the meeting. Networking sessions will include themed and private breakout rooms. More information soon. Keynotes lectures of about 45 minutes will be followed by about 30 minutes of Q&A. With the exception of some roundtables (see below), all other speakers have 15 minutes to present and 15 minutes of Q&A.

We are very much looking forward to the keynote lectures by Elizabeth Baldwin (University of Arizona, USA), Tine de Moor (Erasmus University Rotterdam, Netherlands) and Harini Nagendra (Azim Premji University, India). There will also be a closing panel with the three keynote speakers. These four sessions will be recorded and videos will be made available on our website and YouTube channel after the conference. The remainder of the conference comprises 47 sessions, including 6 roundtables organized around exciting recently published or forthcoming books and edited volumes. These sessions will not be recorded.

We will also have our first WINIR membership meeting in some time (the last one took place in Lund in September 2019). The meeting will focus on WINIR strategy and is open to all attendees. The Editor-in-Chief of the Journal of Institutional Economics, Geoff Hodgson, will announce the 2022 Elinor Ostrom Prize and the Reviewer of the Year Award at the meeting. The meeting will not be recorded. With 5 dedicated slots, the conference will furthermore provide participants with a range of informal networking opportunities, including themed and private breakout rooms.

Please find further information on the programme here. Registration will remain open up to and during the conference. Please join us for what promises to be a very stimulating event. To register please visit the official website. Please note that if you are not currently a member, you will need to add a membership to the cart before you can proceed to checkout.

Workshop: Squaring the circle? (Berlin, October 2022)

11 October 2022 | Berlin, Germany

Workshop Theme: Joining forces to liberate social and political stability from the need for continuous economic growth

Full-day workshop, co-hosted by ZOE Institute for Future-fit Economies and the German Environment Agency (UBA), in collaboration with Angelika Zahrnt (Friends of the Earth/IÖW), Irmi Seidl (Swiss Research Institute WSL), Christine Corlet Walker (Centre for the Understanding of Sustainable Prosperity) and Mike Asquith (European Environment Agency).

We invite you to join us in Berlin in a relaxed atmosphere to open a thinking space on growth independence in social and fiscal policy.

Places are limited, please register here for the workshop until 26 August 2022. Find out more about the workshop in the invitation attached and on the official website. We look forward to inspiring and fruitful conversations!

Please find more information here.

Application Deadline: 26 August 2022

Conference Papers, Reports, and Podcasts

2022 Summer Seminar on MMT, Minsky, and Godley: Levy Economics Institute of Bard College

The videos from select sessions of the Levy Economics Institute’s 2022 Summer Seminar on MMT, Minsky, and Godley are now available online.

Plenary Sessions - History of Economics Society (HES) 2022

The video recordings of the plenary sessions held during the History of Economics Society recent meeting in Minneapolis are now available on our website.

The contents include keynote speeches from HES Distinguished Fellows Bruce Caldwell and Cristina Marcuzzo, the Presidential Address of Marcel Boumans, and a session honouring the memory of Geoff Harcourt. We invite all of you to enjoy this selection of highlights from our conference.

Job Postings

University of Bath, UK

Job title: Lecturer in Business Economics (Assistant Professor)

The University of Bath School of Management is seeking to appoint an Assistant Professor (Lecturer) in Business Economics, to join the Business Economics Group of the Marketing, Business & Society Division within the School of Management.

The School of Management is a vibrant and productive community. In the 2021 Research Excellence Framework (REF), Times Higher ranked the School 7th in the UK for Business and Management Studies and 4th in the UK for its research environment. 93% of research is classed as world leading and internationally excellent. It was ranked 1st for Marketing (the Complete University Guide 2021) and 3rd for Business & Management Studies (the Complete University Guide 2021).

The Business Economists group play an active role in many areas of the School of Management, particularly in regards to research and teaching. Current members of the group are active in a variety research centres, primarily across the School of Management but also in the University of Bath more generally. These include the Centre for Governance, Regulation and Industrial Strategy (CGR&IS), the Centre for Business, Organizations and Society (CBOS), and the Tobacco Control Research Group (TCRG).

We welcome applicants with substantial research potential in any area of Business Economics but would particularly welcome candidates with research interests in industrial economics, applied microeconomics, labour economics, experimental economics, or regional development and industrial strategy. Advanced econometric skills linked with the aforementioned areas would be desirable as would a history of / demonstrable potential for engagement with policymakers (at local, regional, national and international levels) or other settings for gaining research impact.

The Business Economics Group achieves teaching excellence on our highly rated undergraduate and master’s degrees. We offer a strongly supportive environment for all our students, from undergraduate to PhD, and deliver a first-class student experience. The successful candidate will have some proven ability/obvious potential for teaching, ideally including previous experience of teaching economics to business/management focussed students.

The School is currently undergoing a period of faculty expansion and facility improvement, which includes the development of a state-of-the-art new building. The successful candidate will join us in this building.

Informal enquiries may be made to the Head of the Marketing, Business & Society Division, Dr Sarah Glozer, email S.Glozer@bath.ac.uk and the Subject Group Lead for Business Economics, Dr Rob Branston, email J.R.Branston@bath.ac.uk. However please ensure that you submit your application through the University website.

What we can offer you

Our campus is surrounded by beautiful countryside, and the City of Bath with its historic charm and social activity only a short distance away creates an excellent environment in which to work.

We recognise the commitment, achievements and talents of our workforce through our offering of initiatives and benefits, including (but not limited to):

Find out from our staff what makes the University of Bath a great place to work. Follow us @UniofBath and @UniofBathJobs on Twitter for more information.

We aim to be an inclusive university, where difference is celebrated, respected and encouraged. We truly believe that diversity of experience, perspectives, and backgrounds leads to a better environment for our employees and students, creating a learning environment and organisational culture that enhances health and wellbeing across our community. We are very proud to have recently received Ambassadors for Autism certification and are an accredited Disability Confident Leader; committed to building disability confidence and supporting disabled staff.

Application Deadline: 31 August 2022

Dezernat Zukunft, Germany

Job title: Policy Analyst/Expert

Dezernat Zukunft is a Berlin-based, macro-financial think tank. We are looking to hire multiple economists for start dates as soon as possible in the following two roles:

For further information on the application process and the two roles, see here. We are hiring on an ongoing basis, so feel free to send us your application promptly at info@dezernatzukunft.org.

Max Planck Institute for the Study of Societies, Germany

Job title: Visiting Researchers Program in Economic Sociology and Political Economy

International research cooperation enriches the work and life of our Institute. Our Visiting Researchers Program is one of the ways in which we aim to encourage an active exchange between scholars in Germany and abroad. The program is designed for researchers working in the fields of economic sociology or comparative/international political economy, who are invited to spend between two and twelve months at the MPIfG.

Applications are welcome from professors, postdoctoral researchers, and doctoral students. The intended research project of a potential visiting researcher should relate to the MPIfG’s Research Program and ongoing projects at the Institute.

Applicants are asked to provide a funding plan for their stay. If your application is successful, you will receive a letter of invitation that you can use to approach funding institutions. Visiting researchers have office space at the Institute and full access to its service infrastructure. The MPIfG has close collaborative ties with Sciences Po in Paris, with which it set up the Paris-based Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo) in 2012. A stay at the MPIfG as a visiting researcher can be combined with a stay at MaxPo.

You will need the following documents to apply:

Please apply in English or German on our online application portal by April 30 for the following winter semester (starting October 1) and October 31 for the following summer semester (starting April 1). You will find the job posting including the link to the online application portal under our current job openings as soon as applications are possible.

Please find more information here.

Application Deadline: 31 October 2022

Positive Money Europe

Job title: Researcher

Positive Money Europe is looking for a Researcher who will be in charge of delivering an ambitious research agenda of ECB reforms, with a particular focus on the role of the European Central Bank in delivering a fair and greener economy.

Positive Money Europe is a think and do tank that works to reimagine our money and banking system for the benefit of all and our planet. We are part of a growing and collective force for economic systems change. We have been working in the UK since 2010, Brussels since 2019 and the US since 2021. Our mission is to reform money and banking to build a fair, democratic and sustainable economy. To achieve this we produce groundbreaking research and policy, penetrate the media, influence politicians, and inform and mobilise the public behind people-powered campaigns.

This role requires producing in-house research while also managing research projects with external partners, working closely with the policy team to produce policy briefings and provide the team with accurate facts and evidence, and making sure our campaign messaging and proposals are rooted in rigorous analysis.

Essential experience and skills

Application process

Please download and fill out the Application Form (*) in full and send it by email to info@positivemoney.eu.

* If the form does not download by clicking on the link above, try right-clicking the link and “save as” or “save link as”. Or you can copy and paste the following link in a new browser window:http://www.positivemoney.eu/wp-content/uploads/2022/08/Application-form_Researcher.docx In case that doesn’t work either, please get in touch (info@positivemoney.eu).

The full job description can be found here.

Application Deadline: 12 September 2022 (09.00 CET)

TU Delft, Netherlands

Job title: Assistant Professor (tenure track) Climate Economics

The section Economics of Technology and Innovation ETI in the department of Values Technology and Innovation VTI is looking for an ambitious economist who would like to develop or continue an academic career path on climate economics and finance at the vibrant and very international academic community at TU Delft.

We welcome an Assistant Professor who will use quantitative (data-driven or/and model-based) approaches to understand how climate finance shapes the evolution of infrastructure and networks, their resilience and exposure to climate risks.


For further information and application please visit the website.

Vacancy number: TUD02440

Deadline: 1 September 2022

The New School for Social Research, US

Job title: Heilbroner Center Visiting Scholar Fellowship in Capitalism Studies

The Robert L. Heilbroner Center for Capitalism Studies at The New School for Social Research invites applications for the Heilbroner Visiting Scholar Fellowship, to be held for one or both semesters of the 2022-23 academic year. Candidates must hold a PhD – conferred no later than 2020 – in a humanities or social science discipline. This is not a postdoctoral position.

The Heilbroner Visiting Scholar will receive $12,000 to support a research, teaching, or creative/design project that connects with students and faculty at the New School. The award may be used to hire an NSSR graduate student for research or administrative support; to convene an event or series; to advance collaboration culminating in a co-edited or co-authored publication or a creative/design equivalent; to subsidize housing costs. An office and library privileges will be provided. While in residence, the Heilbroner Visiting Scholar will participate in the faculty fellows’ monthly work-in-progress group, and, in general, contribute to the life of the Center. (In-person residence will be contingent on the status of the COVID-19 pandemic and any related policies).

We encourage applications on the following themes: gender, care, and social reproduction; post-capitalism; global trade, finance, and labor after COVID19; extraction and ecology; racial capitalism; fintech and other emergent infrastructures; precarity and informality; money, currency, and empire.

To apply, applicants should submit the following materials to the New School Careers page no later than August 15, 2022.

Deadline: 15 August 2022

University College London, UK

Job title: Post-graduate teaching assistant (PGTA)

UCL Institute for Innovation and Public Purpose is now recruiting for three post-graduate teaching assistant (PGTA) positions on our Rethinking Capitalism heterodox economics module. This is convened by Josh Ryan-Collins and Carolina Alves and runs for 10 weeks, Jan-March 2023. The position involves leading two one-hour seminars each week plus office hours for students, marking essays and some administrative duties and attending the lectures. It would be around 100 hours in total. All teaching will be in-person. This is an elective (optional) module for both undergraduates (around 60) and postgraduates (around 30) across UCL. The course features internationally leading economists such as Mariana Mazzucato, Ha Joon Chang, Jayati Ghosh and Stephanie Kelton as well as high level policy makers and addresses issues such as inequality, climate change, financial crises, development economics and digital platforms. You can watch videos from the first year we ran the course here.

The main duties of the posts vary between modules and include seminar teaching, attendance at the weekly lecture(s), assistance with project work and marking. The successful candidates will be in at least their second year of a postgraduate research degree and will have not yet finished when teaching starts. Previous undergraduate teaching experience is desirable but not necessary. Payment will also be made for teaching preparation time and any other duties performed in addition to contact teaching hours. Contracts will normally include the following contracted hours:

Please note that appointments and subsequently the number of hours and seminar classes per PGTA will only be finalised in September once we have a better sense of student numbers for the 2022/23 academic year. The purpose of this job is to support teaching and learning in our BASC-coded modules, working with the academic modules leads through the delivery of small group teaching for students taking modules in the Arts and Sciences Department. Main duties of the post are tutorial class teaching, regular meetings with the course lecturer, provision of feedback to students, attendance reporting, coursework assessment and examination marking. PGTAs will be given training in support of their roles. PGTAs are expected to be able to commit be present on the Bloomsbury campus for the full duration of the term(s) for which teaching is allocated and during the examination period as required, as we will not be offering online seminar classes in 2022/23.

Application Process

If you are a PhD student (in your second year or further), please feel free to apply. As IIPP does not have a full undergraduate program, the course is administered by a different department, the Bachelors of Arts and Sciences (BASC) so you need to send it to them for consideration and they would be in charge of renumeration. The course code for Rethinking Capitalism is BASC0037.

Applicants should submit as one document:

  1. a personal statement outlining: why you are interested in teaching on the Arts and Sciences modules and why you think you would be suitable for the particular module(s) for which you are applying;
  2. which PGTA position(s) you are applying for (a maximum of two, one per term),
  3. why you believe you are well-qualified for this (these) PGTA position(s),
  4. confirmation that your supervisor has given permission for you to teach in the 2022/23 academic year,
  5. an indication of whether or not you have already attended an Arena One Gateway Workshop,
  6. confirm that you will be able to meet all obligations for this position at the required times.

The deadline is 17.00h on 31 August and you should submit your CV and a short covering email to Angela Vaughn – please also copy Dr Josh Ryan-Collins.

Application Deadline: 31 August 2022 (17.00h)


The Independent Review: Student Essay Competition

The Independent Review has published timely symposiums on the following subjects in recent years, and now invites undergraduates to write about these and other issues, with the best essay to be published in TIR in 2023.

Instructions and other information:

You can find more details such as eligibility and style guidelines here.

Deadline for submission:15 May 2023

URPE Annual Best Paper 2022: Winner's Announcement

The Review of Radical Political Economics is pleased to announce the 2022 winner of its annual Best Paper Award:

Each year, the RRPE editorial board selects the best paper from the among those papers published in the previous volume year, in this case volume 53 (2021). This year’s winner can be found here with free access until the end of the year.

More information about RRPE’s Best Paper Award, including previous winners, can be found here.


Ecological Economics 200

Mbaye Fall Diallo, Fatou Diop-Sall, Erick Leroux, Marc-Antoine Vachon: How do tourism sustainability and nature affinity affect social engagement propensity? The central roles of nature conservation attitude and personal tourist experience

Heinz Welsch: Do social norms trump rational choice in voluntary climate change mitigation? Multi-country evidence of social tipping points

Yang Lin, Ruifa Hu, Chao Zhang, Kevin Chen: The role of public agricultural extension services in driving fertilizer use in rice production in China

Aysha Fleming, Anthony P. O'Grady, Cara Stitzlein, Sue Ogilvy, Daniel Mendham, Matthew T. Harrison: Improving acceptance of natural capital accounting in land use decision making: Barriers and opportunities

Yunwei Li, Xiao Ning, Zijie Wang, Jingyu Cheng, Fumeng Li, Yu Hao: Would energy poverty affect the wellbeing of senior citizens? Evidence from China

Erik Gomez-Baggethun: Rethinking work for a just and sustainable future

Adiel Moyal, Amos Schurr: The effect of deliberate ignorance and choice procedure on pro-environmental decisions

Michael Sinclair, Andrea Ghermandi, Giovanni Signorello, Laura Giuffrida, Maria De Salvo: Valuing Recreation in Italy's Protected Areas Using Spatial Big Data

Tuuli von Wright, Janne Kaseva, Helena Kahiluoto: Needs must? Fair allocation of personal carbon allowances in mobility

Thomas Eichner, Rüdiger Pethig: Kantians defy the economists’ mantra of uniform Pigovian emissions taxes

Maria L. Loureiro, Maria Alló, Pablo Coello: Hot in Twitter: Assessing the emotional impacts of wildfires with sentiment analysis

David Rossi, Olli-Pekka Kuusela, Christopher Dunn: A microeconometric analysis of wildfire suppression decisions in the Western United States

Chloé Beaudet, Léa Tardieu, Maia David: Are citizens willing to accept changes in public lighting for biodiversity conservation?

Pierluigi Toma, Valeria Stefanelli: What are the banks doing in managing climate risk? Empirical evidence from a position map

Bui Bich Xuan, Quach Thi Khanh Ngoc, Tobias Börger: Fisher preferences for marine litter interventions in Vietnam

Filippo Fraschini, Alistair Hunt, Roberto Zoboli: Decision tools for adaptation to climate change: Portfolio analysis of tea plantation investments in Rwanda

Beatrice Noeldeke, Etti Winter, Elisée Bahati Ntawuhiganayo: Representing human decision-making in agent-based simulation models: Agroforestry adoption in rural Rwanda

Jerome Dumortier, Amani Elobeid, Miguel Carriquiry: Light-duty vehicle fleet electrification in the United States and its effects on global agricultural markets

Geula Michael-Bitton, Gideon Gal, Xavier Corrales, Eyal Ofir, Mordechai Shechter, Shiri Zemah-Shamir: Economic aspects of fish stock accounting as a renewable marine natural capital: The Eastern Mediterranean continental shelf ecosystem as a case study

Renato Molina: The lack of property rights can make natural disasters worse: The case of small-scale fisheries in Chile

Matteo Mazzarano: Material governance and circularity policies: How waste policies and innovation affect household appliances' accumulation

Shiming Zheng, Rongrong Yao, Ke Zou: Provincial environmental inequality in China: Measurement, influence, and policy instrument choice

Vüsal Hasanzade, Ossama Elshiewy, Waldemar Toporowski: Is it just the distance? Consumer preference for geographical and social proximity of food production

Christos Makriyannis: The foundational economy-as-an-organism assumption of ecological economics: Is it scientifically useful?

Orlando Rodríguez, Maria Vrachioli, Johannes Sauer: Payments for environmental services and coffee production in Colombia: Technical efficiency across the world heritage status borders

Adugna Eneyew Bekele, Dusan Drabik, Liesbeth Dries, Wim Heijman: Resilience of Ethiopian Agropastoral Households in the Presence of Large-Scale Land Investments

Aiora Zabala, Luis Enrique García Barrios, Unai Pascual: From participation to commitment in silvopastoral programmes: Insights from Chiapas, Mexico

Anne Baumgartner, Frank C. Krysiak, Florian Kuhlmey: Sufficiency without regret

Raphael Filippelli, Mette Termansen, Syezlin Hasan, Berit Hasler, Line Hansen, James C.R. Smart: Water quality trading markets – Integrating land and marine based measures under a smart market approach

Katharina Bohnenberger: Is it a green or brown job? A Taxonomy of Sustainable Employment

Doris Virág, Dominik Wiedenhofer, André Baumgart, Sarah Matej, Fridolin Krausmann, Jihoon Min, Narasimha D. Rao, Helmut Haberl: How much infrastructure is required to support decent mobility for all? An exploratory assessment

Nuno Ornelas Martins: Sustainability and development through the humanistic lens of Schumacher and Sen

Mickaele Le Ravalec, Alexandre Rambaud, Véronique Blum: Taking climate change seriously: Time to credibly communicate on corporate climate performance

Erasmus Journal for Philosophy and Economics 15 (1)


Thomas Ferretti: Measuring Freedom: Towards a Solution to John Rawls’ Indexing Problem

Shiri Cohen Kaminitz and Iddan Sonsino: The Case of Stated Preferences and Social Well-Being Indices

Daniel Kuehn: “The Hardest of All the Problems”: Hochman, Rodgers, and Buchanan on Pareto Optimal Redistribution

Kasper Lippert-Rasmussen: Why ‘Indirect Discrimination’ Is a Useful Legal but Not a Useful Moral Concept


Kasper Lippert-Rasmussen, Xavier Ramos, and Dirk Van de gaer: The Philosophy and Economics of Measuring Discrimination and Inequality: A Roundtable Discussion


Dick Timmer: Thresholds and Limits in Theories of Distributive Justice

Huub Brouwer: Desert, Luck, and Justice

Luca Congiu: Choice Architecture: A Message and Environment Perspective

Paul Hufe: Unfair Inequality: From Measurement to Causal Drivers

Hugo del Valle-Inclán Cruces: Issues on the Measurement of Opportunity Inequality

Klaudijo Klaser: Three Economic Extensions of John Rawls’s Social Contract Theory: European Union, Tax Compliance, and Climate Change

Valentina Erasmo: Amartya Sen’s Earlier Conception of Economic Agents through the Origins and Development of his Capability Approach (1970–1993)

Forum for Social Economics 51 (3)

Massimo Cingolani: What Economic Modelling Hypotheses Should Underlie Regulation & Policy Advice? Towards a Probabilistic Approach

As Xie: The Next Global Economic & Financial Crisis is Just Around the Corner

Ib Ravn: Werner’s Typology of Banking Theories

Thibaud Deguilhem, Michelle Vernot-Lopez & Baptiste Delmas: Quality of Employment in Bogotá (Colombia): Concept, Method and Evidence

Karol Gil-Vasquez: Portuguese Social and Solidarity Economy’s ‘Substantive Meaning:’ Constructing an Alternative Path to European Cohesion

GAIA - Ecological Perspectives for Science and Society 31 (2)

Editorial: José Romero: 40 years of the climate and biodiversity conventions

Gregor Hagedorn, Claudia Binder, Flurina Schneider, Matthias Barth, Wolfgang Krohn, Pia-Johanna Schweizer, Thomas Jahn, Amke Oltmanns: 30 years of GAIA - 3 questions to...

Tobias Kalt, Johanna Tunn: Shipping the sunshine? A critical research agenda on the global hydrogen transition

Sinje Grenzdörffer, Josef Kaiser, Friederike Mainz, Matthias Middendorf: The diversity of property: a potential for a social-ecological transformation

Pamela Richardson: Participatory Video (remote, online)

Historical Materialism 30 (2)

David Janzen: The Ends of Capital: Terminal Crisis and the Substance of Value

Alexandru Cistelecan: Humanist Redemption and Afterlife: The Frankfurt School in Communist Romania

Takuya Sato:Japan’s Secular Stagnation, Marx’s Law of the Tendency of the Rate of Profit to Fall, and the Theory of Monopoly Capitalism

Josep Maria Antentas: Daniel Bensaïd’s Marrano Internationalism

Michael Löwy: Marxism and Religion Go to the Theatre: Bertolt Brecht, ‘Saint Joan of the Stockyards’ (1931)

Patrick L. Gallagher: Andreu Nin on Fascism in Italy: Translator’s Introduction

International Journal of Pluralism and Economics Education 13 (1)

Special Issue on: Doing Pluralist Economics

Corinna Dengler: Critical realism, feminisms, and degrowth: a plea for metatheory-informed pluralism in feminist ecological economics

Melissa Kennedy: A narrative approach to happiness measures: the complementary knowledge of fiction and film

Patrick Klösel: Optimal policy modelling? An argumentation theory approach to making sense of economic modelling

Florian Rommel; Robert L. Kasperan: Pluralism is not 'anything goes' - grounding pluralism in economics in diverse economies by rehabilitating Paul Feyerabend

Henri Schneider: Combination matters: why corporate bonds and shadow banking can threaten financial stability - a Minskyian perspective

Jakob Fraisse: On the reciprocal potential of cultural anthropology and economics: the example of economised cultural work

Journal of Economic Issues, 56 (2)

Yeva Nersisyan: The 2022 Veblen Commons Award Recipient: L. Randall Wray

L. Randall Wray: The 2022 Veblen-Commons Award Recipient: L. Randall Wray: Wampeters, Foma, and Granfalloons: Enabling Myths and Not-So-Innocent Frauds

John P. Watkins: The Origins and Evolution of Consumer Capitalism: The Paradoxes Posed by Continuous Mass Production

Asimina Christoforou: Social Capital and Civil Society in Public Policy, Social Change, and Welfare

Jairo J. Parada: Colombia’s Peace Process: A Case Study of a Vexing Society Struggling for Institutional Adjustment

Alexis Stenfors, Ioannis Chatziantoniou & David Gabauer: The Evolution of Monetary Policy Focal Points

Tanweer Akram: One-Factor Keynesian Models of the Long-Term Interest Rate

Lilian Muchimba: Could Transaction-Based Financial Benchmarks be Susceptible to Collusive Behavior?

Mimoza Shabani: Banks During the Pandemic: A Japanese Perspective

Kosta Josifidis & Novica Supic: Corporate Capital and (De)Monopolization of Public Health in the USA: An Institutionalist Perspective

Eric N. Glock: Off Dependence on the Highway to Hell and on to the Stairway to Heaven

F. Gregory Hayden & Tasnim Ahmed Mahin: Integrating the Concepts of Zero Greenhouse-Gas Emissions, the Precautionary Principle, and Environmental Impact Statements for Climate Change Policy Mitigation

Annesha Mukherjee & Satyaki Dasgupta: “He Says, She Says”: Sexism and Sexual Harassment in Higher Educational Institutions of India

Ricardo C. S. Siu: Between Stability and Liberty: The Transformation of China and Its Controversial Impacts on the Global South in Times of Crises

Janice Peterson: Economic Crises and Women’s Experiences in the United States

Carlos Aguiar de Medeiros & Nicholas Trebat: Income Distribution, Bargaining Power, and Structural Change in Developed Economies

John Marangos: Alternative Economic Paradigms to the Greek Financial Crisis

Erdogan Bakir & Al Campbell: The Kaleckian Profit and Profit Rate and Post-WWII U.S. Business Cycles

Brian Chi-ang Lin: MMT or Public Enterprises? A Contribution to Economic Sustainability

Ann E. Davis: Restricting Suffrage, Contracting Rights: Variations on Polanyi’s “Double Movement”

Natalia Bracarense: Bernard Maris and Institutional Economics: An Interlocution on Regional Transformation

Kalpana Khanal & Zdravka Todorova: Land, International Mobile Labor, Remittances, and Provisioning

Zdravka Todorova: Institutional Theory, Socialization of Investment, and Care-Based Full Employment for Equity and Human Development

Devin T. Rafferty & Valeria A. Moreno: Money Theory as a Foundational Component in Polanyi’s The Great Transformation

Mario Seccareccia & Guillermo Matamoros Romero: Is There an Appropriate Monetary Policy Framework to Achieve a More Equitable Income Distribution or Do Central Bank Mandates Really Matter? Interest-Rate Rules versus a Full-Employment Policy

Charles J. Whalen & Yan Liang: Money Manager Capitalism and the Coronavirus Pandemic: A Post-Keynesian Institutionalist Analysis of Inadequate Industrial Capacity

Paolo Ramazzotti: “Talkin’ ‘bout a Revolution” or, What about Institutional Change?

Sarah Klammer & Eric Scorsone: Housing as a Human Right: A Proposed Alternative Institutional Structure in Sacramento

Rodrigo Constantino Jeronimo, Eric Anthony Scorsone & Sebastião Neto Ribeiro Guedes: From the Rule of Thumb to the Rule of the Algorithms: Command and Control in Ride-Hailing Platforms

Antoon Spithoven: Third Way to Go: An Update of John R. Commons’ Approach

David Cayla: How the Digital Economy Challenges the Neoliberal Agenda: Lessons from the Antitrust Policies

Manuel Ramon Souza Luz & Magda dos Santos Ribeiro: The Dynamics of Encapsulation: Innovation, Annihilation, and Contradiction in Practice

Alicia Girón: Geopolitics and Financial Profitability, the Big Pharmaceutical Corporations

Avraham Izhar Baranes & Carrie Coward Bucher: Classification Systems and the Veblenian Dichotomy: An Interdisciplinary Approach to Social Stratification

Gregorio Vidal & Wesley Marshall: Secular Stagnation as a Result of Economic Maturity or Deepening Underdevelopment?

Faruk Ülgen: From the Crisis of Financialization to the COVID Crisis: In Search of a Collective Action Between Market and State

Timothy A. Wunder: Lost in Translation: Scarcity and Small Government Within Mainstream Economics

Christian E. Weller & Emek Karakilic: Wealth Inequality, Precariousness, Household Debt, and Macroeconomic Instability

Kurt J. Keiser: Our Toxic Bill of Rights

Anna Klimina: Transforming Oligarchic Capitalism in Post-Soviet Space into Social-Democratic Capitalism: Words of Wisdom from Post-Keynesian Institutionalist Forerunners and Early Contributors

Baban Hasnat: Culture, Institution, and Policy Response to COVID-19

William Waller: Missing Middles, Magical Words, and Leaps of Imagination in the Original Institutionalists' Theory of Behavior

Felipe Almeida & Maríndia Brites: Original Institutional Economics Outside the United States: The Brazilian Chapter

Mary V. Wrenn: Overworked, Alienated, and Externalized: Multi-Level Marketing Distributors in the Neoliberal Age

Wilfred Dolfsma, Maral Mahdad, Ekaterina Albats & Valentina C. Materia: Inter-Organizational Collaboration: Units and Levels of Analysis with Multi-Theory Lenses

Lane Vanderslice: Heterodox Economics and the Economics of Harm

Journal of Post Keynesian Economics 45(3)

Peter N. Hess: More fiscally responsible: Democrat or Republican presidents?

Vicente Ferreira: Lost in consolidation? Declining public investment, multiplier effects and alternatives to the path of fiscal consolidation in Portugal

Cláudio Castelo Branco Puty: Shape matters: cost curves and capacity utilization in U.S. manufacturing

Joana David Avritzer: Estimation of a long run regime for growth and demand through different filtering methods

Carles Manera, Ferran Navines, Jose Pérez-Montiel & Javier Franconetti: Capital productivity and the decreasing wage share in the United States: a Keynesian Approach

Eduardo Garzón Espinosa, Bibiana Medialdea García, Esteban Cruz Hidalgo & Carlos Sánchez Mato: Link between private debt and public surplus in Spain

Pablo Bortz, Gabriel Michelena & Fernando Toledo: The global financial cycle and external debt: effects on growth and distribution in emerging and developing economies

Problemas del Desarrollo 53 (3)

Manuel Trevignani, Carolina Lauxmann, Marcos Valentinuz: State involvement in development: the global value chain approach

Rosario Cervantes, Jorge Villaseñor-Becerra: Latin America: Complexity and Economic Development, 1995-2018

Juan Alberto Vázquez Muñoz, Josué Zavaleta González: Exports versus capital accumulation in Argentina, Brazil, Chile, and Mexico

Dr. Eduardo Loría, Estefany Licona Santillán: The Great Gatsby Curve for Mexico: intergenerational labor precariousness

Martin Arturo Ramirez Urquidy: Economic downturns and regional entrepreneurship dynamics in Mexico: trends and policy implications

Noemí Levy Orlik, Jorge Alonso Bustamante: Capital flows and financial development: a view from developing countries

Jorge Basave Kundhart: Foreign Direct Investment of large Mexican companies in the United States

Review of Behavioral Economics 9 (2)

J. Barkley Rosser Jr.: "Introduction to Special Issue Honoring Richard H. Day"

Alan Kirman: "Unorthodox Economic Dynamics: A Tribute to Dick Day"

K. Vela Velupillai: "The Adaptive Economist: Richard H. Day, 1933-2021"

Mina Mahmoudi, Mark Pingle and Rattaphon Wuthisatian: "A Ratio-Difference Theory of Choice: An Article Written to Honor Richard Hollis Day"

Svetlana Pevnitskaya and Dmitry Ryvkin: "Strategy Adjustments in Games with a Dynamic Public Bad: Experimental Evidence"

Review of International Political Economy 29 (4)

Georgina Waylen: Gendering global economic governance after the global financial crisis

Lee Jones & Shahar Hameiri: COVID-19 and the failure of the neoliberal regulatory state

Joseph Baines & Sandy Brian Hager: Commodity traders in a storm: financialization, corporate power and ecological crisis

Sarah Bauerle Danzman & Alexander Slaski: Explaining deference: why and when do policymakers think FDI needs tax incentives?

William D. O’Connell: Silencing the crowd: China, the NBA, and leveraging market size to export censorship

Xiaobo Su: Smuggling and the exercise of effective sovereignty at the China-Myanmar border

Jacqueline Best: Varieties of ignorance in neoliberal policy: or the possibilities and perils of wishful economic thinking

Jakob Kapeller, Stephan Puehringer & Christian Grimm: Paradigms and policies: the state of economics in the German-speaking countries

Sidney A. Rothstein: Toward a discursive approach to growth models: social blocs in the politics of digital transformation

Antonio Calcara & Raffaele Marchetti: State-industry relations and cybersecurity governance in Europe

Lucio Baccaro & Tobias Tober: The role of wages in the Eurozone

Sebastian Dellepiane-Avellaneda, Niamh Hardiman & Jon Las Heras: Financial resource curse in the Eurozone periphery

Karsten Kohler & Engelbert Stockhammer: Growing differently? Financial cycles, austerity, and competitiveness in growth models since the Global Financial Crisis

Bruno Amable & Thibault Darcillon: The brahmin left, the merchant right and the bloc bourgeois

Erin Hannah, Adrienne Roberts & Silke Trommer: Gender in global trade: Transforming or reproducing trade orthodoxy?

Revista de Economía Crítica 33

Aurèlia Mañé-Estrada, F. Javier San Julián Arrupe: Pensamiento, filosofía y política económica en el siglo XXI

Antonio Sánchez Andrés: La planificación en la política económica del siglo XXI. Esbozo de una alternativa viable.

Juan Francisco Albert, Carlos Ochando Claramunt: Revisión y reformulación de la política monetaria para el Siglo XXI.

Fernando López Castellano, Fernando García-Quero: Nuevas teorizaciones y nuevas agendas en los estudios del desarrollo.

Albert Puig-Gómez: Trabajar la competencia ética a partir de los ODS. Una aproximación “crítica” desde la política económica.

José A. Tapia: Las crisis económicas con una perspectiva de un siglo: Wesley Mitchel

Wesley C. Mitchell: Los ciclos comerciales

Revue de la Regulation 32


Hiroshi Nishi: A growth regime approach to demand, distribution, and employment with endogenous NAIRU dynamics

Pierre Girard, Sandrine Michel, Sara Mercandalli and Bruno Losch: The income-labour nexus as the dominant institutional form in rural sub-Saharan Africa

Samuel Klebaner: Théorie de la régulation et histoire du droit : un croisement fertile

Novice Patrick Bakehe, Jules Mandeng Ma Ntamack and Roukiya Hassan: Analyse de l’impact du conformisme social sur l’adoption de l’e-learning dans un pays en développement


Amartya Sen: Marx après Kornai

Bernard Chavance: Piecemeal remarks on János Kornai’s life-work

Revue de la régulation 32

Hiroshi Nishi: A growth regime approach to demand, distribution, and employment with endogenous NAIRU dynamics

Pierre Girard, Sandrine Michel, Sara Mercandalli & Bruno Losch: The income-labour nexus as the dominant institutional form in rural sub-Saharan Africa. How youth transition helps to understand structural change

Samuel Klebaner: Théorie de la régulation et histoire du droit : un croisement fertile

Novice Patrick Bakehe, Jules Mandeng Ma Ntamack & Roukiya Hassan: Analyse de l’impact du conformisme social sur l’adoption de l’e-learning dans un pays en développement

Amartya Sen: Marx après Kornai

Bernard Chavance: Piecemeal remarks on János Kornai’s life-work

Structural Development Macroeconomics 5 (3)

Reisoli Bender Filho; Daniel Arruda Coronel , Kelmara Mendes Vieira: EDITORIAL






The European Journal of the History of Economic Thought 29 (4)

Simona Pisanelli: The Sympathy of Sophie de Grouchy, translator and critic of Adam Smith

Michael J. Murray: Economic method, public policy, and society: Adolph Lowe’s political economics

Jan Greitens: Money is a right: Alfred Lansburgh’s Token Theory of Money

Hansong Li: Timing the laws: Rousseau’s theory of development in Corsica

Richard S. J. Tol: Rise of the Kniesians: the professor-student network of Nobel laureates in economics

Stephen John Nash & Liza Joan Rybak: Locke, Marshall, and Knight, on uncertainty and risk

Pierre Januard: Risky exchanges: price and justice in Thomas Aquinas’s De emptione et venditione ad tempus

Antoin Murphy: Jacqueline Hecht (1932–2020)

The Review of Black Political Economy 49 (3)

Margaret C. Simms: In Memoriam: Edward D. Irons, Sr

Luis Monroy-Gómez-Franco, Roberto Vélez-Grajales, and Gastón Yalonetzky: Layers of Inequality: Unequal Opportunities and Skin Color in Mexico

Joaquin Alfredo Angel Rubalcaba and Candis Watts Smith: The Pursuit of Happiness: A Calculation of the Hidden Costs of Being Black in the 21st Century

Jared M. Ragusett: Re-Examining the Effect of Job Sprawl on the Black-White Housing Consumption Gap: Evidence Following the Great Recession

Regan Deonanan and Daren Conrad: Foreign Direct Investment and Economic Growth in Guyana: The Role of Financial Sector Development

Chukwuebuka Bernard Azolibe: External Debt Accumulation and Foreign Direct Investment Inflows in Sub-Saharan Africa: Analysing the Interaction Effects of Selected Macroeconomic Factors

Books and Book Series

A Brief History of Economic Thought: From the Mercantilists to the Post-Keynesians

edited by Hassan Bougrine & Louis-Philippe Rochon | 2022, Edward Elgar

It is now widely acknowledged that history is useful, even essential, because it helps us predict the future. The history of ideas in economics, as in other fields of inquiry, plays an important role in enlightening current researchers as they endeavour to understand contemporary events and anticipate the future of human societies. This book brings together a fine collection of chapters that span contributions from forgotten classics to the most recent new thinking about critical issues such as growth, wealth, its creation and its distribution among members of society. It is A Brief History of Economic Thought, but it will certainly go a long way in helping undergraduate students and other researchers who are curious about the evolution of economic ideas over the last five centuries.

Chapters offer discussions on the main tenets of post-Keynesian economics, and focus on issues of growth, wealth and income distribution. The debate on the role of government versus the market is brought to the fore within the context of economic thought from the Physiocrats to the post-Keynesians.

The editors have created an essential read for scholars and students interested in the history of economic thought and post-Keynesian economics.

Please find a link to the book here.

A Mathematical Approach to Marxian Value Theory: Time, Money, and Labor

by Dong-Min Rieu | Palgrave Macmillan, 2022

This book clarifies the quantitative relationship between time, money, and labor productivity from the perspective of Marxian labor theory of value. The book is divided into four main parts. Part I introduces the relationship between time and money in the context of Marxian value theory. Part II explores the theory of labor exploitation. Part III turns to analysis of the rate of profit, which is a primary characteristic of classical and Marxian economics. Part IV is devoted to suggesting a new research direction in light of the main conceptual innovation of the book.

Please find a link to the book here.

A Modern Guide to Post-Keynesian Institutional Economics

edited by Charles J. Whalen | 2022, Edward Elgar

This Modern Guide seeks to advance post-Keynesian institutionalism (PKI), a tradition that proved its worth by addressing the global financial crisis of 2007–2009, as well as by analyzing long-term trends accompanying the evolution of investor-driven (money manager) capitalism, including financialization, spreading worker insecurity, and rising inequality. The book begins with the history and contours of PKI, and then breaks new ground by extending recent analyses of contemporary economic problems, sharpening concepts and methods, sketching new theories, and synthesizing ideas across research traditions. It also identifies policy-relevant frontiers—on matters ranging from social capital and economic democracy to feminism and environmental sustainability—thereby setting an ambitious agenda for further post-Keynesian institutionalist research.

Please find a link to the book here.

Ages of American Capitalism: a History of the United States

by Jonathan Levy | 2021, Penguin Random House

In this ambitious single-volume history of the United States, economic historian Jonathan Levy reveals how capitalism in America has evolved through four distinct ages and how the country’s economic evolution is inseparable from the nature of American life itself. The Age of Commerce spans the colonial era through the outbreak of the Civil War, and the Age of Capital traces the lasting impact of the industrial revolution. The volatility of the Age of Capital ultimately led to the Great Depression, which sparked the Age of Control, during which the government took on a more active role in the economy, and finally, in the Age of Chaos, deregulation and the growth of the finance industry created a booming economy for some but also striking inequalities and a lack of oversight that led directly to the crash of 2008.

In Ages of American Capitalism, Levy proves that capitalism in the United States has never been just one thing. Instead, it has morphed through the country’s history—and it’s likely changing again right now.

Please find a link to the book here.

Alligators in the Arctic and How to Avoid Them: Science, Economics and the Challenge of Catastrophic Climate Change

by Peter Dorman | Cambridge University Press, 2022

Climate change is a matter of extreme urgency. Integrating science and economics, this book demonstrates the need for measures to put a strict lid on cumulative carbon emissions and shows how to implement them. Using the carbon budget framework, it reveals the shortcomings of current policies and the debates around them, such as the popular enthusiasm for individual solutions and the fruitless search for 'optimal' regulation by economists and other specialists. On the political front, it explains why business opposition to the policies we need goes well beyond the fossil fuel industry, requiring a more radical rebalancing of power. This wide-ranging study goes against the most prevalent approaches in mainstream economics, which argue that we can tackle climate change while causing minimal disruption to the global economy. The author argues that this view is not only impossible, but also dangerously complacent.

Please find a link to the book here.

An Introduction to Macroeconomics: A Heterodox Approach to Economic Analysis

edited by Louis-Philippe Rochon & Sergio Rossi | 2022, Edward Elgar

The second edition of this important textbook introduces students to the fundamental ideas of heterodox economics. It is written in a clear way by top heterodox scholars. This introductory book offers not only a critique of the dominant approach to economics, but also presents a positive and constructive alternative. Students interested in an explanation of the real world will find the heterodox approach not only satisfying, but ultimately better able to explain a money-using economy prone to periods of instability and crises.

Key features of this textbook include:

Students of economics at all levels can use this textbook to deepen their understanding of the heterodox approach, the fundamental roots of the 2008 global financial crisis and the need to rethink economics afresh.

Please find a link to the book here.

Beyond Racial Capitalism Co-operatives in the African Diaspora

Edited by Caroline Shenaz Hossein, Sharon D. Wright Austin, and Kevin Edmonds | 2023, Oxford University Press

Knowledge-making in the field of alternative economies has limited the inclusion of Black and racialized people's experience. In Beyond Racial Capitalism the goal is close that gap in development through a detailed analysis of cases in about a dozen countries where Black people live and turn to co-operatives to manage systemic exclusion. Most cases focus on how people use group methodology for social finance. However, financing is not the sole objective for many of the Black people who engage in collective business forms; it is about the collective and the making of a Black social economy.

Systemic racism and anti-Black exclusion create an environment where pooling resources, in kind and money, becomes a way to cope and to resist an oppressive system. This book examines co-operatives in the context of racial capitalism-a concept of political scientist Cedric J. Robinson's that has meaning for the African diaspora who must navigate, often secretly and in groups, the landmines in business and society. Understanding business exclusion in the various cases enables appreciation of the civic contributions carried out by excluded racial minorities. These social innovations by Black people living outside of Africa who build co-operative economies go largely unnoticed. If they are noted, they are demoted to an “informal” activity and rationalized as having limited potential to bring about social change. The sheer determination of Black diaspora people to organize and build co-operatives that are explicitly anti-racist and rooted in mutual aid and the collective is an important lesson in making business ethical and inclusive.

Please find a link to the book here.

Central America's Forgotten History: Revolution, Violence and the Roots of Migration

by Aviva Chomsky | 2022, Penguin Random House

Restores the region’s fraught history of repression and resistance to popular consciousness and connects the United States’ interventions and influence to the influx of refugees seeking asylum today.

At the center of the current immigration debate are migrants from Central America fleeing poverty, corruption, and violence in search of refuge in the United States. In Central America’s Forgotten History, Aviva Chomsky answers the urgent question “How did we get here?” Centering the centuries-long intertwined histories of US expansion and Indigenous and Central American struggles against inequality and oppression, Chomsky highlights the pernicious cycle of colonial and neocolonial development policies that promote cultures of violence and forgetting without any accountability or restorative reparations. Focusing on the valiant struggles for social and economic justice in Guatemala, Nicaragua, El Salvador, and Honduras, Chomsky restores these vivid and gripping events to popular consciousness. Tracing the roots of displacement and migration in Central America to the Spanish conquest and bringing us to the present day, she concludes that the more immediate roots of migration from El Salvador, Guatemala, and Honduras lie in the wars and in the US interventions of the 1980s and the peace accords of the 1990s that set the stage for neoliberalism in Central America.

Chomsky also examines how and why histories and memories are suppressed, and the impact of losing historical memory. Only by erasing history can we claim that Central American countries created their own poverty and violence, while the United States’ enjoyment and profit from their bananas, coffee, mining, clothing, and export of arms are simply unrelated curisosities.

Please find a link to the book here.

Degrowth & Strategy: how to bring about social-ecological transformation

edited by: Nathan Barlow, Livia Regen, Noémie Cadiou, Ekaterina Chertkovskaya, Max Hollweg, Christina Plank, Merle Schulken and Verena Wolf | Mayflybooks, 2022

Degrowth is a counter-hegemonic movement that has the ambitious aim of transforming society towards social and ecological justice. But how do we get there? That is the question this book addresses. Adhering to the multiplicity of degrowth whilst also arguing that strategic prioritisation and coordination are key, Degrowth & Strategy advances the debate on strategy for social-ecological transformation. It explores what strategising means, identifies key directions for the degrowth movement, and scrutinises strategies in practice that aim to realise a degrowth society. Bringing together voices from degrowth and related movements, this book creates a polyphony for change going beyond the sum of its parts.

You can find a link to the free book here. You can also order a paperback from your local bookshop or various online bookstores – e.g. see some in Germany, Romania, Spain, Sweden, the UK, the US.

Freedom is Indivisble: Rudolf Hilferding’s Correspondence with Karl Kautsky, Leon Trotsky, and Paul Hertz, 1902-1938

by William T. Smaldone | Publication date: 22 December 2022, Brill

As the author of the ground-breaking work of Marxist political economy, Finance Capital, and a leader in the German Social Democratic Party, Rudolf Hilferding was a dominant intellectual and political figure in the history of European socialism from its halcyon days in the pre-1914 era until its collapse in the 1930s. This collection of his previously unpublished correspondence allows readers to trace the evolution of Hilferding’s thought as socialism’s fortunes declined and his own fate became precarious. It shows how, in the face of rising Stalinism and fascism, democracy remained at the core of his socialist vision.

Please find a link to the book here.

Handbook of Alternative Theories of Political Economy

Edited by Frank Stilwell, David Primrose and Tim B. Thornton | 2022, Edward Elgar Publishing Inc

This Handbook provides an overview of established and cutting-edge contributions to political economic thought. Chapters by leading and emerging scholars showcase the diverse approaches and productive debates among researchers.

Separate sections of the book deal with political economy as an area of knowledge, its principal theoretical traditions, the dynamics and socio-ecological foundations of economic systems, and political economy’s interdisciplinary connections. Thirty-two chapters cover the full spectrum of contemporary political economy, including classical, Marxist, post-Keynesian, institutional, evolutionary, and feminist approaches, recent studies of capital as power, modern money theory, behavioural economics, social structures of accumulation, and race, gender and class. The volume concludes by reflecting on how these theories of political economy can contribute to making a better world.

Pluralist and interdisciplinary in its approach, this Handbook is a key resource for students and teachers of political economy and heterodox economics, as well as for other social scientists wanting to understand political economic processes.

Please find a link to the book here.

Post-Keynesian Economics: New Foundations (2nd edition)

by Marc Lavoie | 2022, Edward Elgar

This book is a considerably revamped, updated and extended version of the highly successful and frequently cited 2014 edition, which won the Myrdal Prize (now the Joan Robinson prize), for the best book published between 2014 and 2016, awarded by the European Association for Evolutionary Political Economy. It provides an exhaustive account of post-Keynesian theory and policy. Topics covered include its methodological foundations, consumer theory and choice under fundamental uncertainty, firms and pricing, money and credit, effective demand and employment, growth theory, inflation theory. It also links up with ecological economics.

This book shows how post-Keynesian economics constitutes a coherent heterodox alternative, based on realistic assumptions and the integration of the financial and real sides of the economy, with an emphasis on the many paradoxes that arise in a truly macroeconomic analysis.

Please find a link to the book here.

The Kurdish Women's Movement: History, Theory, Practice

by Dilar Dirik | 2022, Pluto Press

The Kurdish women's movement is at the heart of one of the most exciting revolutionary experiments in the world today: Rojava. Forged over decades of struggle, most recently in the fight against ISIS, Rojava embodies a radical commitment to ecology, democracy and women's liberation. But while striking images of Kurdish women in military fatigues proliferate, a true understanding of the women's movement remains elusive.

Taking apart the superficial and Orientalist frameworks that dominate, Dilar Dirik offers instead an empirically rich account of the women's movement in Kurdistan. Drawing on original research and ethnographic fieldwork, she surveys the movement's historical origins, ideological evolution, and political practice over the past forty years. Going beyond abstract ideas, Dirik locates the movement's culture and ideology in its concrete work for women's revolution in the here and now.

Taking the reader from the guerrilla camps in the mountains to radical women's academies and self-organized refugee camps, readers around the world can engage with the revolution in Kurdistan, both theoretically and practically, as a vital touchstone in the wider struggle for a militant anti-fascist, anti-capitalist feminist internationalism.

Please find a link to the book here.

The Origins and Dynamics of Inequality: Sex, Politics, and Ideology

by Jon D. Wisman | 2022, Oxford University Press

Whereas President Barack Obama identified inequality as “the defining challenge of our time,” this book claims more: it is the defining issue of all human history. The struggle over inequality has been the underlying force driving human history’s unfolding. Drawing on the dynamics of inequality, this book re-interprets history and society. Beyond according inequality the central role in human history, this book is novel in two other respects: First, transcending the general failure of social scientists and historians to anchor their work in explicit theories of human behaviour, this book grounds the origins and dynamics of inequality in evolutionary psychology, or more specifically, Darwin’s theory of sexual selection. Second this book is novel in according central importance to the critical historical role of ideology in legitimating inequality, a role typically ignored or given little attention by social scientists and historians.

Because of the central role of inequality in history, inequality’s explosion over the past 45 years has not been an anomaly. It is a return to the political dynamics by which elites have, since the rise of the state, taken practically everything for themselves, leaving all others with little more than the means with which to survive. Due to elites’ persuasive ideology, even after workers in advanced capitalist countries gained the franchise to become the overwhelming majority of voters, inequality continued to increase. The anomaly is that the only intentional politically driven decline in inequality occurred between the 1930s and 1970s following the Great Depression’s partial delegitimation of elites’ ideology.

Please find a link to the book here.

The Spectre of Capital: Idea and Reality

by Christopher J. Arthur | Brill, 2022

What is money? What is capital? The Spectre of Capital tackles such fundamental questions at a deep philosophical level. It argues that the modern world is ruled by a ‘spectre’, the spectre of capital. This insight is rooted in an original combination of the ideas of Marx and Hegel. It presents the most sophisticated argument to date for ‘the homology thesis’, namely that the order of Hegel’s logical categories, and that of the social forms addressed by Marx’s Capital, share the same architectonic. The systematic-dialectical presentation shows how capital becomes a self-sustaining power.

Please find a link to the book here.

The Tragic Science: How Economists Cause Harm (even as they aspire to do good)

by George DeMartino | University of Chicago Press, 2022

The practice of economics, as economists will tell you, is a powerful force for good. Economists are the guardians of the world’s economies and financial systems. The applications of economic theory can alleviate poverty, reduce disease, and promote sustainability.

While this narrative has been successfully propagated by economists, it belies a more challenging truth: economic interventions, including those economists deem successful, also cause harm. Sometimes the harm is manageable and short-lived. But just as often the harm is deep, enduring, and even irreparable. And too often the harm falls on those least able to survive it.

In The Tragic Science, George F. DeMartino says what economists have too long repressed: that economists do great harm even as they aspire to do good. Economist-induced harm, DeMartino shows, results in part from economists’ “irreparable ignorance”—from the fact that they know far less than they tend to believe they know—and from disciplinary training that treats the human tolls of economic policies and interventions as simply the costs of promoting social betterment. DeMartino details the complicated nature of economic harm, explores economists’ frequent failure to recognize it, and makes a sobering case for professional humility and for genuine respect for those who stand to be harmed by economists’ practice.

At a moment in history when the economics profession holds enormous power, DeMartino’s work demonstrates the downside of its influence and the responsibility facing those who practice the tragic science.

Please find a link to the book here.


The ASE YouTube Page is Live

Please note that ASE have an active YouTube page. It is updated with various talks and panel sessions from many ASE members. We are live on YouTube here.
You can check us out on our other social media platforms: Facebook, Twitterand LinkedIn.

The Monetary Policy Institute Blog

The Monetary Policy Institute, directed by Louis-Philippe Rochon, Sylvio Kappes and Guillaume Vallet, has launched a new blog. The Monetary Policy Institute Blog specializes in central banking, monetary policy and inflation. It is the first and only critical and heterodox blog devoted to monetary issues.

You can find the blog here. You can also follow the blog on Twitter, @MonetaryBlog. If interested in contributing, contact Rochon at LPROCHON2003@Yahoo.com

The Blog's launch coincides with a series of books published by Kappes, Rochon, and Vallet, on various themes touching monetary policy. The first 5 books (out of 12 so far) of the Elgar Series on Central Banking and Monetary Policy are due out this summer. More information can be found here.

For Your Information

Statement of the Women and non-binary Caucus of AFEE on ASSA Conference 2023

Dear AFEE member and conference participants,

On June 24, 2022, the US Supreme Court overturned the Roe v. Wade decision and individual states are now enabled to restrict reproductive healthcare without medical qualification.

On June 27, 2022, in light of the above decision, the ongoing pandemic, and the threat of monkeypox, I formed the Ad-hoc Women and Non-binary Caucus of AFEE to discuss what action we should take given the location of the ASSA conference in New Orleans, LA in January 2023. As a collective, we decided to send a letter (see attached) to the AEA stating the case for making the conference entirely virtual. Cristina Romer, the current president of the AEA, wrote back to tell us that the AEA plans to go ahead with the conference in New Orleans but will offer a virtual option for those who cannot or do not want to attend in person. We do not yet have information on how this will work, but rest assured you will be able to present at the conference and submit your paper for the June JEI whether or not you plan to attend the conference in person.

For anyone who cannot or will not attend the conference but for whom the option to present virtually is not feasible, the Ad-hoc Women and Non-binary Caucus of AFEE has developed a contingency plan to make sure that you are still able to appear on the conference program and to submit for the June JEI. Please contact me directly for details so that we can make the arrangements for your participation by proxy.

AFEE remains deeply committed to its members and refuses to allow institutional barriers and discrimination to stand in the way of member inclusion and participation.

In solidarity,

Mary V. Wrenn, PhD
2022 President, Association for Evolutionary Economics

PS: if any woman or non-binary person would like to join the Caucus, the please write to me directly to be added. Please note that according to the AFEE Constitution, only current Board members and Trustees are allowed to vote, although all voices are heard and considered.