Heterodox Economics Newsletter

Issue 262 April 20, 2020 web pdf Heterodox Economics Directory

In these unusual days my affections are often with those among us that are not so lucky and privileged to withstand the current health crisis without much loss of income and opportunity. The fact that many people out there struggle economically - although the lock-downs have been in place for only a few weeks, a 'very short run' so to say - painfully points to the fragility of even the most developed, rich and powerful countries in the world. Truth is, 'we' cannot afford to press the hold-button and take a break for, let's say, some months as between one third and a half of 'us' is basically forced to live from hand-to-mouth and deeply delves into precariousness and worse as soon as we dare to press the hold-button. However, this connection between resilience and distribution is not the only economically noteworthy thing to observe in this crisis.

For one, the advent of this health-crisis can be understood as an example of 'fundamental uncertainty', that is, 'uncertainty' in "the sense [...] in which a European war is uncertain, or the price of copper and the rate of interest twenty years hence, or the obsolescence of a new invention [...]" (Keynes 1937). The crisis not only indicates that unforeseen (or 'heavy-tailed') events have an impact on aggregate economic development and individual business opportunities, but also demonstrates the relative merit of precautionary and preventive institutions. For example, strong healthcare-systems and benevolent unemployment-insurance substantially increase the resilience of societies via unforeseen risks and crisis. In such contexts, the subjective valuation of public assets often changes drastically: in Austria, my home country, free resources in hospitals had been chastisized as an inefficient and superfluous waste of resources for decades. Now they are praised as an invaluable resource to come to grips with the current situation and keep the death toll low.

Continuing this line of thought we can speculate about the relative merits (and doability) of restarting an economy in lockdown. Many frame this as a 'classical economic trade-off' between lockdown-costs and impact of the pandemic and, I presume, some would even tend to draw an indifference curve and a budget constraint for that problem (as I, with some pain, observed here). Here is the short note: Please do not do this. It is much more wrong than when you usually do it with Pepsi & Pizza, cigarettes and beer or whatever your favoriate example shall be. Actually, it illustrates how standard economic analysis tends to obfuscate core aspects of analyzed problems. Putting this trade-off in a standard framework overlooks many essential aspects (e.g., that every life saved is an economic benefit and, hence, there is complementarity), insinuates that aggregation of preferences is trivial (although people are rather heterogenous & the shock quite asymmetric), comes with implicit value judgements (drawing the graph implies you see no role for virtue-ethics here, drawing the line means you just attached a price tag for a human life...) and is conceptually fallacious as the budget constraint is either not immovable (from an aggregate view) or irrelevant (as some budgets will run out sooner than others due to pace heterogeneity).

For another, it is quite interesting for me to observe the current experiment in de-growth, which not only sharply illustrates how such a fundamental change, if happening unregulated, burdens economically weaker groups and lower income strata, but also provides some intuition on the relative decoupling of financial markets (already 'back on trend' after a first sharp fall) and the real economy (with outlooks becoming more devastating every week).

More thoughts could be added on which policy-measures could make societies more resilient in such contexts (I would be in favor of wide-spread moratoria for debt- and rent-payments as a kind of emergency-measure to increase resilience in pandemics) or on whether it is possible to somehow sustain the massive reduction in carbon emissions and waste that we are currently visiting, but I have run out of space and my students are eagerly waiting for me to produce their next video lecture ;-) So I will close at this point.

Many thanks and all the best,


PS: In my last editorial I announced that the annual EAEPE conference will be postponed. This was incorrect: as you can see below the conference will take place online instead.

© public domain

Table of contents

Call for Papers

"Agent Based and Stock-Flow Consistent Models for Complexity Economics" (ASCOPE) 2020: Update

We are sorry to announce that, due to the current epidemic of Covid-19, we decided to postpone ASCOPE 2020 to a new date yet to define. France is currently under quarantine and locked in for an indefinite time. Moreover, in light of the global situation, there are reasonable chances that we will not be able to meet the sufficient conditions for maintaining an international conference in June 2020. As soon as we are able to re-schedule the conference at a new date, we shall come back to you with the new calendar and deadlines.

In order to avoid evaluating abstracts that at the time of the conference might be already outdated, we decided to start a new selection procedure in the future. Of course, we will be delighted to receive a new proposal from you as soon as we will open a new call for papers.

29th IAFFE Annual Conference 2020: Update

After consultation with our conference hosts in Ecuador and additional conversation regarding our options, the IAFFE Board of Directors has decided to postpone the 29th IAFFE Annual Conference from June 2020 to June 2021 due to the COVID-19 pandemic. The conference will still be in Quito, Ecuador in 2021.

Many thanks to Carmen Diana Deere and the organizing committee in Ecuador for all of the hard work they have done and will do to organize this international conference.

IAFFE has started to develop a series of on-line events and activities which will allow our community to come together and continue to engage with a broad range of pressing issues we all face. Feminist economics is needed now more than ever

Please watch for IAFFE’s March newsletter coming out next week for ...

We appreciate your patience as we work through this process. Best wishes to all as we navigate these difficult times.

IAFFE Board of Directors and Staff

32nd Annual Conference of the European Association for Evolutionary Political Economy (EAEPE) (online, Sept. 2020)

2-4 September 2020 | online

Note on the ongoing Covid-19 pandemic: The EAEPE meeting was originally scheduled to take place in Bilbao, Spain. As a result of the Covid-19 pandemic, we are forced to hold it as an online meeting instead. As a plus, the meeting is much less regionally constrained and scholars from around the world can participate without traveling to Europe. There will be a much reduced registration fee to cover technical necessities of the conference and administrative expenditures. Details are being worked out by the EAEPE council and main conference organizers and will follow on the EAEPE website. If you have any questions, please do not hesitate to contact us.

Please find the original call for papers in the heterodox economic newsletter here and additional research area calls below.

Research Area [R] – Classical Theory and Policy Analysis and Special Session (Coordinators: Prof. E.S. Levrero and Prof. F. Serrano)

On the occasion of the 32nd EAEPE Conference, to be held online 2-4 September 2020, on The Evolution of Capitalist Structures: Uncertainty, Inequality, and Climate Crisis, the Research Area [R] on Classical Theory and Policy Analysis is co-organising the special session Measures for Full Employment: Job Guarantee and the Working-Time Reduction (see the call for papers). Centro Sraffa invites to submit papers for this special session and/or on subjects relating to research area [R] – Classical Theory and Policy Analysis.

Research area [G] (Macroeconomic Regulation and Institutions) , [L] (Labour economics) and [R] (Classical Theory and Policy Analysis): special session on" Measures for full employment: Job guarantee and the working-time reduction"

A combination of Minsky’s proposal of the State as an employer of last resort and the reduction of working-time has been recently proposed as the way to cope the waste of human resources (in the form of labour unemployment and underemployment) that has occurred in the main industrialized countries over the last 40 years. The aim of this session is to analyse the theoretical and operational issues related to these measures in order to assess their viability and effects on a wide range of economic and social aspects. As Minsky outlined, his proposal of the State as an employer of last resort (ELR) may encounter several obstacles such as the external barrier of the trade balance, an inflationary barrier, and political constraints. How to overcome these barriers and if the ELRP is the more efficient measure vis-a-vis other Keynesian full employment policies are crucial issues in order to implement this program. An institutional setting favouring expansionary fiscal and monetary policies, lowering the propensity to import and addressing the inflation barrier (with a greater labour productivity and income policies lowering firm mark-ups) seems to be a pre-requisite in order to increase the efficiency of full employment policies and lengthen their maintenance over time. The case for working-time reduction raises either when the path of aggregate productivity increase is faster than the path of attainable growth of output or when a short time policy measure is searched in order to cope with the gap between labour demand and labour supply. The main problems related to this measure can be grouped into three orders. The first is concerned with the implications for distribution and labour cost. Assuming a reduction of working–time proportional to an increase in productivity per hour, the labour cost for unit of production should remain constant with a constant wage level. Should part of the increase in productivity be converted into wage increase, the reduction of working-time would have to be lessened if profit margins must not be affected. The second order of problems regards the re-organisation of production processes within the firm. There are discontinuities (of different extent according to specific tasks and stages of production) that render extremely complex the readjustment of the processes. The technology does not allow movements along a “continuum” of techniques so that the conversion of productivity increases into shorter working time should be carefully designed in a thorough restructuring of the production processes of the firm splitting of specific tasks of single workers into different complementary workers. The third order of problems concerns the case in which a general reduction of working hours be imposed by law to all the economy while different sectors show different rates of productivity increase. This would imply (apart from the unlikely readjustment of sectoral wage levels) either an exit from the market of firms with lower (or zero) increase in productivity, or significant changes in relative prices. Obviously, this could be prevented by Government interventions through taxation, transfers and subsidies, as it has been experienced in some Nordic countries. The problems that a policy of general shortening of the working-time has to face are complex and need to be deeply investigated. In addition, some social aspects are also relevant, such as the use of more leisure time, the provision of new and better consumer goods and services, and so on. In the meantime, attention and studies should be devoted to experiments of flexible and gradual reductions based on personal choices, single firms and collective agreements. On this line should be considered the possibility of agreeing voluntary marginal reductions of working time joined with wage reductions, such as, for instance longer periods of unpaid vacations, or longer temporary leaves, unpaid and for various purposes, or even the possibility of sabbaticals. Another option could be to free the part-time work from its features of forced, precarious, peripheral and unskilled jobs and to extend it to voluntary opportunities for central well-structured tasks requiring high responsibilities and high skills. Still more, retirement regulations could allow for flexible retiring ages, with gradual reduction of working time linked to progressive inclusion of young workers in the firm.

Please indicate whether your paper is intended for Research Area [R] – Classical Theory and Policy Analysis or for the special session. For further information, contact the coordinators or see the conference website.

Research Areas [H] and [J]: special session on "Critical macro-finance and international financial hierarchies in the Basel III world"

This special session will focus on the recent developments in the institutional setup and dynamics of the monetary and financial system in the US and Europe. Its purpose is to bring together academics and practitioners with different disciplinary backgrounds to:

If you wish to submit an abstract, please use this link, specifying that your abstract should be considered for this special session.

Research Area [C] (Institutional Change) and Research Area [W] (Global Political Economy): on "Heterodox Development Policies: Myth or Reality"

together with Lotta Takala-Greenish (University of the West of England) and Alice Nicole Sindzingre (Paris-North Economics Centre/CEPN, and SOAS University of London)

The special session proposes a critical review of the evolution and current form of economic development discourses. A closer investigation of the nature of the debates reveals that heterodox development discourses present some alarming signs of ‘stagnation’. It is argued that heterodox development debates are increasingly reactive and positioned in contrast to the mainstream rather than generating original (and context-specific or inter-connected) insights. As a result, the space and form of debate remains shaped by the mainstream, reproducing some of the constraints such as the mainstream divide between macro and microeconomic analyses, the search for universal and measurable approaches (e.g. Randomized Control Trials), the dominant circulation of ideas from the global north to the global south (as noted by decolonising economics) and of scholars from the global south to the global north. There is substantial heterogeneity across new areas of heterodox development research, e.g. global value chains, systems of innovation, financialisation, agro-industrialisation, feminist and gender discourses etc. These diverse heterodox specialisations have produced novel empirical, theoretical and policy insights, which nevertheless often remain disconnected from each other or from exploring the merits and limitations of the heterodox theoretical heritage (e.g. Marx, Kaldor, Keynes, etc.). In some instances, too much weight may be placed on frameworks and debates that are difficult to distinguish from mainstream economics and in particular from mainstream development theories, methodologies and policies.

Whilst mainstream concepts of economic development remain worth questioning, heterodox development approaches could benefit from critically investigating their own evolution and present state independent of, as well as in contrast with, the mainstream. These observations point to important questions about the nature and future of heterodox development economics.

This list of questions is not exhaustive. The organizers will consider any proposal that raises original and relevant issues on the general topic of this call for papers.

You are invited to submit an extended abstract on the conference website. It is also convenient to send a copy of the abstract to Paolo Ramazzotti. The abstract (300-750 words) should include the following information: authors’ names, email addresses and, affiliations, and title of the special session. Following notification of acceptance, you will be invited to submit the full paper.

Research Area [Q] Complexity Economics (Coordinators: Magda Fontana and Torsten Heinrich)

The world, its economic systems, and its very social structure are hit by a pandemic that is unprecedented in modern times. The death toll is rising, and the impact on the lives of people in many countries is substantial. While we may hope that the number of infections will go down with the measures governments and international organizations are taking, the economic impact is only beginning to take shape.

We are almost certain to enter a dramatic recession the effects of which may last well beyond the end of the present pandemic. We also see the effects of highly integrated supply chains. Shortages of a huge variety of goods are starting to materialize quickly as production in the worst-hit grinds to a halt. Demand side effects add to the issue. Goods that are badly needed by care workers may not be available. While the case of disinfectant and face masks are obvious, it extents to information technology and many other product categories. Ripples are already felt in the financial system. And the brewing crisis is certain to have an impact on poverty and development as well as structural change and many other fields.

Complex systems are at the root of it all. Integrated supply networks may not be well-understood without taking complex networks into account. The integrated effect on society, development, finance and other fields may benefit from tools and perspectives from complex systems science. Systemic risk is clearly a factor. For this year's EAEPE Research Area [Q] session, we therefore particularly invite contributions that assess the economic impact of pandemics, epidemics and other disasters, the complexity of supply chains and production networks and their economic implications, the impact of crises (such as the unfolding one) on socio-economic issues, and the potential for policy recommendations and forecasts in a changing world from a complex systems perspective.

That said, we do not wish to limit the scope of the research area by setting this timely focus. We continue to welcome contributions on the the Research Area [Q]'s established, regular, and important topics. Furthermore, we would like to also encourage submissions to other research areas of the EAEPE conference. We are certain that, given current events, economic effects of pandemics will be a topic also in other research areas.

Research Area [Q] Complexity Economics of the EAEPE is dedicated to providing a forum for complex systems approaches in economics. This includes both perspectives, methods, and applications. We aim to raise awareness that while simplification may be necessary in model building, the complexity of reality and qualitatively different characteristics it gives rise to must be considered. Today, we have both the tools and the computation power to do so. Working in close exchange with other research areas of the EAEPE (e.g., S - Simulation, X - Networks, and C - Institutions), we have since the establishment of the research area in 2016 organized events ranging from our regular session at the annual conference to special sessions to workshops.

How to submit

Extended Abstracts (300-750 words) should be submitted on the EAEPE website, where Research Area [Q] can also be selected as the primary research area the submission is meant for. As detailed in the call for extended abstracts, we will place the focus this year on the economic aspects and effects of the Covid-19 pandemic. Submissions should be made via the online submission system.

Joint special session on Heterodox Development Policies: Myth or Reality?

Organized by Research Area C (Institutional Change) and Research Area W (Global Political Economy) together with Lotta Takala-Greenish, University of the West of England and Alice Nicole Sindzingre, Paris-North Economics Centre/CEPN (University Paris-North) and School of Oriental and African Studies (SOAS University of London) The session is co-sponsored by the Forum for Social Economics. The special session proposes a critical review of the evolution and current form of economic development discourses. A closer investigation of the nature of the debates reveals that heterodox development discourses present some alarming signs of ‘stagnation’. It is argued that heterodox development debates are increasingly reactive and positioned in contrast to the mainstream rather than generating original (and context-specific or inter-connected) insights. As a result, the space and form of debate remains shaped by the mainstream, reproducing some of the constraints such as the mainstream divide between macro and microeconomic analyses, the search for universal and measurable approaches
(e.g. Randomized Control Trials), the dominant circulation of ideas from the global north to the global south (as noted by decolonising economics) and of scholars from the global south to the global north.

There is substantial heterogeneity across new areas of heterodox development research, e.g. global value chains, systems of innovation, financialisation, agro-industrialisation, feminist and gender discourses etc. These diverse heterodox specialisations have produced novel empirical, theoretical and policy insights, which nevertheless often remain disconnected from each other or from exploring the merits and limitations of the heterodox theoretical heritage (e.g. Marx, Kaldor, Keynes, etc.). In some instances, too much weight may be placed on frameworks and debates that are difficult to distinguish from mainstream economics and in particular from mainstream development theories, methodologies and policies. Whilst mainstream concepts of economic development remain worth questioning, heterodox development approaches could benefit from critically investigating their own evolution and present state independent of, as well as in contrast with, the mainstream. These observations point to important questions about the nature and future of heterodox development economics.

This list of questions is not exhaustive. The organizers will consider any proposal that raises original and relevant issues on the general topic of this call for papers. You are invited to submit an extended abstract on the conference website: It is also convenient to send a copy of the abstract to Paolo Ramazzotti. The abstract (300-750 words) should include the following information: authors’ names, email addresses and, affiliations, and title of the special session. Following notification of acceptance, you will be invited to submit the full paper.

Submission Deadline: 30 April 2020

9th Young Economist Conference 2020 (Vienna, Oct. 2020)

1-2 October 2020 | Vienna, Austria

"Inequalities in Space and Time"

Following the rapid spread of the Corona virus, the world is currently in a severe social and economic crisis. The disruption of global value chains, a sharp decline in economic activity and rising unemployment pose major challenges for our societies. Moreover, this crisis and countermeasures for coping with it, reveal and highlight the presence of social inequalities and unequal opportunities. In order to develop policies for a just transition to a more resilient and sustainable future, it is of utmost importance to understand the origins and consequences of inequalities in space and time.

We are convinced that the collaboration of different disciplines and research fields is the most promising approach for both, the identification of the causes and consequences of inequalities, and the development of policies for its remedies. As Thomas Piketty argues in his new book “Capital and Ideology”, inequalities are not an inevitable fate, rather are they rooted in ideology and politics. We invite young scholars from all subfields of the social sciences, for instance economic geography, economics of distribution, health economics, and political sociology, to present their research on the spatial and temporal evolution of multidimensional inequality.

The Chamber of Labour Vienna and the Society for Pluralism in Economics Vienna host the Ninth Young Economists Conference on 1st and 2nd of October 2020, and invite researchers at the beginning of their career (Master, prae- or post-doc) to submit their work. On the occasion of the 100th anniversary of the Austrian Chamber of Labour, we are particularly looking forward to submissions on the dimensions and perceptions of social justice and fairness. Female contributors and researchers of color are especially encouraged to present and participate in the conference.

Submission Process

The deadline for abstracts (max. 1 page) is the 31st of May 2020. The workshop language is English. Participants will be notified of acceptance by mid-June. The deadline for the submission of (working) papers is the 1st of September 2020. The conference is free of charge. Presenting participants will be reimbursed for train travel cost within Austria, and may apply for accommodation subsidies. An outstanding contribution will be awarded the Eduard März Prize of €1,000.
Submission of abstracts and further information: yec@akwien.at

For further information please visit the official website.

Submission Deadline: 31 May 2020

Belt and Road Initiative Quarterly: Special Issue on "The Clash of Socioeconomic Systems in a Post-Coronavirus World"

BRIQ (Belt & Road Initiative Quarterly) is currently seeking submissions for a special issue of their journal on "The Clash of Socioeconomic Systems in a Post-Coronavirus World".

Branded by many as the most severe crisis since World War II, the novel coronavirus (COVID-19) pandemic will certainly mark a defining moment in the history of capitalism. The failure of wealthy, or advanced capitalist countries to contain the crisis, to ensure the people's livelihood and to prevent human tragedies makes one question the credibility of neoliberalism as a development paradigm that has been imposed over the past four decades. On the one hand, there has been a desperate resistance to acknowledging the crisis of global capitalism on the part of neoliberal governments in the Western world. Certain Western politicians keep insisting on private healthcare practices and ultra-capitalist measures that prioritize the survival of corporations (and the wealthy elite) at the expense of mass unemployment and enormous human suffering. They also promote a racist language around COVID-19 and used this crisis to justify economic sanctions and other imperialist measures. On the other hand, public debates are increasingly focused on the potential efficacy of state-led policies that go against neoliberal orthodoxy. In several instances, individualistic discourses lose currency in favor of collectivistic values that encourage public interests, solidarity, and global cooperation away from the politics of fear. Key countries that stand for a more inclusive, or multipolar world (e.g. China, Russia, Cuba) take the lead in bringing these humane and collectivistic values to life.

In the end, the above-mentioned conflicting tendencies embodied in the COVID-19 conjuncture are likely to unveil a slowly brewing clash of socioeconomic systems in the post-Coronavirus world.

Based on the context depicted above, the Belt & Road Initiative Quarterly (BRIQ) calls for essays and academic articles that address issues related (but not limited) to the following areas:

Submission Deadline: 15 May 2020

Bulletin of Political Economy: Special Issue on: "Monetary Policy and Structural Change"

The purpose of the special issue on monetary policy and structural change is to analyze the long-run impact of monetary policy, meaning changes in the rate of interest but also changes in other tools (exchange rate, monetary base and so on), on economic/productive structures and on the way the real economy functions. In standard neoclassical theory, monetary policy has no permanent effect on the real economy, as money and policy are neutral in the long run. Even in Keynesian New Consensus models, the purpose of monetary policy in an inflation targeting regime is to eventually get to a neutral stance, at a natural rate of interest. For some heterodox, however, monetary policy not only has short-term real effects, but it can also have important structural impacts on how the economy operates over time. Monetary policy is likely to entail hysteresis effect, triggering path dependency phenomena. This explains why a growing literature insists on the role of central banks towards climate change, or social inequalities (income distribution, gender, etc.) for instance. Likewise, since structural change refers to the lasting transformation of societies at large, several analyses in sociology, in history or in political science have focused on the role central banks play in the long run with respect to the functioning of democracy and of the whole social process underpinning the evolution of societies. Therefore, the purpose of this symposium is to explore how monetary policy and central bank policies overall can have lasting effects on economic activity, and the structure of such activities. This special issue welcomes contributions in economics but also from other social sciences. For more information, please send emails to Louis-Philippe Rochon and Guillaume Vallet. For more information about the journal vist the website.

We will be publishing 5 articles, of approximately 8000 words each. Important deadlines:

June 1, 2020: email notifying us of your intent to send a paper
September 1, 2020: date of paper submission
Review process and decision: October 20, 2020
Final version of paper: December 15, 2020
Publication: Summer 2021

ESHET 2020: Update and Extended Deadline

24-26 September 2020 | Sofia, Bulgaria

We hope that all of you who were to present a paper at the conference in May will remain committed and will be in Sofia on 24-26 September 2020. The same applies, of course, to the Young Scholars whose papers have been selected. All paper or session proposals that were accepted for the May 2020 ESHET Conference remain accepted for the September 2020 ESHET Conference. If you wish to withdraw an accepted proposal, please inform the local organizers (ESHET2020@unwe.bg). If you would like to present a different paper, you are invited to submit a new proposal via the Sofia Conference website.

We also welcome new papers submissions. The Sofia Conference website is now open for this, and will remain open until 31 May 2020. The decisions of the Scientific Committee will be communicated on 30 June. The postponement of the Conference and the opening to new submissions has led us to modify the calendar: the deadline for early registration is postponed to 14 August, and the final version of the paper is expected on 10 September (see the Sofia Conference website).

Please find the original call in the heterodox economic newsletter here.

Extended Deadline: APCE Special Issue on "Socio-economic Impact of State-owned Enterprises in African Economies"

The deadline for submission of papers for the Special Issue of Annals of Public and Cooperative Economics (APCE): "Socio-economic Impact of State-owned Enterprises in African Economies" from 30 March 2020 has been extended to 15 May 2020. Please find a link to the orginal announcement in the Heterodox Economics Newsletter here.

Extended Deadline: Association for Social Economics (ASE) @ ASSA (Chicago, Jan.2021)

3-5 January 2021 | Chicago, US

The deadline for submission of proposals for the ASE sessions at the 2021 ASSA meetings from 25 April 2020 has been extended to 6 May 2020. Please find a link to the orginal announcement in the Heterodox Economics Newsletter here.

Feminist Economics: Special Issue on: "Feminist Perspectives on the Covid-19 Pandemic"

Much of what is happening in the world with the Covid-19 pandemic is deeply connected with the kinds of issues that feminist economists have long engaged with. The crisis has drawn attention to “essential workers,” those whose services are not only necessary to sustain life and health but also to help maintain the basics of everyday existence. There are the professionals among these workers, the doctors, scientists and public health officials; but the vast majority of those on the front line are made up of low-wage service workers. These service workers, both men and women, normally deemed “low-skilled,” are now recognized as essential to ensure the sales and deliveries, cleaning services, home health assistance, garbage disposal, transport, and so on. Women tend to be over-represented among such frontline service workers and hence are most likely to be exposed to the risk of contracting the disease. Women’s risks of unemployment are also likely to be higher in many contexts, given their over-representation in retail, food service, and hospitality, some of the industries facing the most widespread business closures. In other contexts, where men make up the majority of those in precarious work, male unemployment is far more visible. Regardless of context, it will be men and women from the lowest-income households and socially marginalized groups who will bear the brunt of the economic crisis that is accompanying the pandemic.

Feminist economists have also spent decades examining women’s unpaid work within the home, an issue that has gained attention during the crisis with lockdowns and stay-at-home orders around the globe. Here it is clear that, regardless of context, women do relatively more unpaid care work than men, and this care work is systematically undervalued and invisible. The Covid-19 outbreak has amplified the need for caring labor within the home not only due to school closures, but also due to the large number of people contracting the virus and requiring care at home. The crisis has also made visible the “essential” nature of this work. The home, usually a black box in neoclassical economics, has been a sphere of close scrutiny in feminist economics not only around caring labor, but also its power relations. Feminist economists have done extensive research on women’s empowerment and bargaining power, and how their agency affects outcomes such as healthcare seeking behavior, reproductive health, and domestic violence. These issues have gained the spotlight during the Covid-19 crisis as domestic violence has intensified due to increasing financial insecurity, rising tensions, fear, and seemingly endless confinement within the home. Class is likely to intersect with these gendered responses since confinement is far more stressful in cramped homes in overcrowded slums. Some governments are cutting back on reproductive health care services deemed as nonessential in an effort to divert resources toward Covid-19 care.

The purpose of this special issue is to provide original research on the gendered dimensions of the Covid-19 pandemic in both the global North and South, with a focus on how gender differentiates the experience, impact and risks associated with Covid-19, how the hardships that women and men face may be mitigated as governments work to contain the virus and rebuild their economies, and how public health systems may be reformed to prevent such wide- scale losses from happening again. We are particularly interested in how using a feminist economic lens can afford a deeper understanding of the crisis itself (especially the gender dynamics of work, agency, and well-being), and of policies designed to alleviate its harmful consequences. Topics include, but are not limited to:

Submission details and deadlines
We seek relatively shorter pieces, with a strict limit of 5,000 words (excluding references) and no more than four tables/figures and twenty references. The submission deadline for full papers is May 31 for a print publication date in the fall (though pieces will be published online first). Submissions should be based on original research or analysis. They should make an important contribution to feminist economic scholarship and be oriented to the journal’s international audience. We are creating a pool of reviewers so we can use a fast-track review process, with the final selection of articles depending on reviewer feedback and the decisions of the guest editors. Complete manuscripts should be
submitted via the journal’s Scholar One portal.

Submission Deadline: 31 May 2020

Historical Materialism 17th Annual Conference (London, Nov. 2020)

12-15 November 2020 | Central London, UK

Survival Pending Revolution: Historical Materialism in a Pandemic Age

It is a commonplace in the left’s theoretical imaginary that crises have a revelatory function, as hitherto repressed antagonisms and marginalised contradictions come to the fore. With everyday life across most of the planet in conditions of sequester and the circuits of capital rudely halted by the SARS-CoV2/Covid-19 pandemic, the secular damage to social reproduction and human survival wreaked by predatory austerity regimes is daily manifest in harrowing reports from the clinical frontlines. Society’s reliance on the reproductive and repressive capacities of the state is writ large, yet shadowed by the often malevolent incompetence of capitalist governments, as well as the rich opportunities for the consolidation of authoritarianism offered by a global public health emergency. At the same time, many of the social implications of the pandemic – implicating mobility, access to health and social care – long pre-existed the outbreak, as a long tradition of disability studies and struggles has demonstrated. From the sudden discovery of the social centrality of precarious and proletarianized care and service work to the sudden irruption of prisons into public consciousness, from the recrudescence of xenophobic fantasies to the emergence of multiple forms of social solidarity, the pandemic is foregrounding many of the critical dimensions of our present, and eliciting political transformations that still remain radically under-determined.

This year’s annual Historical Materialism Conference invites papers and panels that seek – speculatively, experimentally, concretely – to explore how critical Marxist theory and radical practice can respond to the potentially profound changes that the pandemic is occasioning. While clichéd theoretical wisdom will argue that Marxism has failed to confront the centrality of the ‘politics of life’ to capitalist modernity, that it suffers a kind of biopolitical deficit, we think it is necessary to recover and foreground the rich seams of ecological, epidemiological and feminist Marxisms that have long attended to the nexus of nature, health and capitalist development and its articulation along axes of gender, sexuality, race, ability and class. But it is also imperative to think through and ‘scale up’ the revolutionary insights that have emerged organically out of anti-capitalist practices of, so to speak, biopolitics from below – the experiments in dual biopower through community health programmes which the Black Panthers once crystallised under the resonant slogan ‘survival pending revolution’.

* The editorial board of Historical Materialism recognises that the ongoing pandemic has rendered all planning uncertain. It is by no means guaranteed that universities in the UK and elsewhere will be open as usual in the Autumn term, nor can we calculate the personal, financial and material toll of the current public health emergency on comrades’ ability to participate in the conference. We recognise, however, that the conference has become an important point of reference, and a kind of community, for many of us, and hope to be able to hold it in some form. We thus remain flexible in terms of the dates and modality of the conference (for instance, enabling more distanced participation than in the past) and will continuously review the situation and communicate with the HM community.

As in previous years, the conference will incorporate a number of streams in addition to the conference theme (in previous years these have included Marxism and Feminism; Race & Capital; Marxism, Sexuality and Political Economy; Utopia; World Literature; Philosophy, etc. – CFPs to be circulated soon) as well as individual papers on a wide range of subjects – further themes related to the general call about which we welcome papers include:

For all enquiries, please contact: historicalmaterialism@soas.ac.uk or visit the official conference website.

Deadline for abstracts: 1 June 2020

History of Economic Society: Conference Update

The HES Executive Committee met yesterday to discuss possible options for virtual conference events as a substitute for this year's usual conference. We envision something analgous to a small, well-curated gallery that will include some live webinars of sessions, some asynchronous videos of paper presentations, an awards event, and a networking event for Young Scholars. We will also schedule a virtual business meeting. Most of these will take place on or around the dates set for the conference -- June 17,18, 19, 20.

In a few days, individuals who submitted papers, sessions, or registered for the conference will receive an email survey asking about their interest in participating in any or all of the above. We would appreciate you responses and input. In addition, we plan to hold the 2021 conference in Utrecht (likely the third or last week of June). We tentatively hold to the schedule of a conference in Minneapolis in 2022 (third week of June) and Vancouver in 2023 (third week of June).

If you have ideas, comments or suggestions, please send them to Marianne Johnson or to the HES generally.

Régulation Review - Capitalism, Institutions, Power: Special Issue on "What does the Covid-19 crisis reveal about Economics and the Economy"

The consequences of the COVID-19 pandemic remain difficult to appraise. In just a few weeks, some of the fundamental assumptions underpinning our societies have been challenged. The ensuing transformations and responses to the pandemic will have structural effects that will last for decades.

This call for papers is jointly launched by the Régulation Review and the European Association for Evolutionary Political Economy (EAEPE). It aims to stimulate a debate that goes beyond current headlines and to develop analyses within the heterodox and pluralistic research community in economic and social sciences. The call is open to empirical, analytical and theoretical papers on the economic, political and social issues of the COVID-19 pandemic.

Contributions may, inter alia, address how the pandemic challenges the basic assumptions and presuppositions of the economic and social sciences. How does COVID-19 inform how we think about risk and uncertainty, state forms, and power? How has COVID-19 impacted on institutional regimes, global value chains, social relations with to nature, the concept of crisis and the ways we exit from a crisis? What impact has it had on economic policies, including those in relation to the socio-ecological emergency and the millions of direct and indirect victims of COVID-19? Given the variety and scope of issues raised by COVID-19, this call is not limited to the above-mentioned issues. The core objective of the call is to enable the scientific community to read and write solid and structured contributions, that might cast a new light on a hugely demanding debate, at this critical moment.

Submitting Your Paper

The Régulation Review - Capitalism, Institutions, Power is an international, peer-reviewed, online journal. It publishes articles in English and French. Distributed in more than 140 countries, it receives about 400,000 unique visitors per year. The papers selected from this call will appear in a special issue as “Opinions-Debates” articles, whose publication process is fast-tracked (see below). EAEPE will publish the summary and the first lines of the papers, with a link to the full article, in the media briefings section of its website, thus ensuring higher visibility.
The reviewing process of the proposals is the following:

STOREP Conference 2020: Update and Extended Deadline

1-3 October 2020 | Rome, Italy

In the light of the Covid-19 pandemic, we decided to postpone the annual STOREP Conference, scheduled to take place from 25 to 27 June 2020, to October 1-3, 2020. Dates are to be confirmed, but please save them. Further the submission deadline has been extended from 15 March 2020 to 15 July 2020.

Please refer to the Conference website for any other information. We will evidently follow decisions by the Italian government and Università di Roma Tor Vergata as regards academic events like our own. Further updates about the Conference will be provided in due course, both by email and on the STOREP website and Facebook page (please check them on a regular basis).

Please find the original call in the heterodox economic newsletter here.

Call for Participants

30th Annual PKES Workshop: Update

The 30th Annual PKES workshop has been scheduled to take place on 28 May 2020 at SOAS University of London. Speakers include Ben Cormier, Hulya Dagdeviren, Karsten Köhler, Ingrid H. Kvangraven, Jordan Melmies, Natalya Naqvi, Carolyn Sissoko, Sara Stevano and Elisa Van Waeyenberge. Please find the provisional programme here.

When we started organising the workshop a few weeks back, the circumstances were rather different and the situation around covid-19 has escalated dramatically since then. We are aware that the event is thus unlikely to go ahead in a physical format. We will decide in early May if the workshop will be postponed or if alternative online options will be considered.

Job Postings

University of Hawaii (Kapolei, Hawaii)

job title: Assistant Professor of Economics (tenure track)

This position will be responsible for serving the undergraduate Economics concentration in the Bachelor of Arts in Social Sciences program. The concentration is oriented around heterodox and traditional neoclassical economic thought with an emphasis on transdisciplinarity. This person would be responsible for teaching introductory theory and a variety of upper-level courses. Teaching includes day, evening, in person, and distance (online and hybrid) education courses. In addition to teaching, faculty are expected to engage in scholarly activity, participate in curriculum development, provide service to the profession and broader community, participate in program assessment and faculty governance, advise students, and supervise senior projects, practicums, and directed reading courses.




How to apply

Visit the offical website. Submit cover letter indicating how you satisfy the minimum and desirable qualifications, curriculum vita, names and contact information of 3 professional references, and copies of official transcripts (official transcripts required at the time of hire). Copies of selected publications and student evaluations summaries may be requested during the search process. If ABD, submit a letter from the committee chair attesting that all degree requirements will be met by August 1, 2020. If multiple applications are received from the same candidate, only the last one will be reviewed. Please do not include any self-identifying photos they will be redacted. Pleasa redact references to social security numbers and birth date on trascript copies. All items become the property of the University of Hawaii-West O'ahu and will not be returned. If you have not applied for a position before using NeoGov, you will need to create an account.

For further information please contact Thomas Scheiding.

Application Deadline: 11 May 2020

University of Redlands (Redlands, US)

job title: Visiting Assistant Professor position in the history of economic thought

The Economics Department in the College of Arts and Sciences at the University of Redlands invites applications for a Visiting Assistant Professor position in the history of economic thought, beginning September 2020. This non-tenure track position will be composed of a one-year position that can be extended an additional two years with successful performance.

The ideal candidate for this position will have a PhD in economics by the time of hire, research and teaching interests in one or more of the following fields: the history of economic thought, methodology, heterodox approaches, macroeconomics and monetary economics. The ideal candidate will also have a proven intellectual disposition to work across disciplines. The successful candidate will be asked to teach six courses per year, including principles of economics, history of economic thought, and elective(s) of their choosing.

The department of economics is especially interested in candidates whose teaching and research will contribute to the department’s commitment to pluralism. The University values applicants who have experience working with students from diverse cultural and socio-economic backgrounds. Applicants are asked to identify their strengths and experiences in assisting diverse student populations to accomplish curricular goals.

The University of Redlands is a private, comprehensive liberal arts and professional institution located 60 miles east of Los Angeles in a suburban town of 70,000. The campus is surrounded by orange groves and sits at the base of the San Bernardino Mountains, approximately halfway between downtown Los Angeles and Palm Springs.

The job listing and instructions for submission can be found here. If you have questions about the position, please send an email.

Application Deadline: 17 April 2020


Call for Applications: Pierangelo Garegnani Research Prize 2020

The Centro di Ricerche e Documentazione “Piero Sraffa”, in accordance with the wishes of the family and with its financial support, establishes for the seventh year a Prize in memory of Pierangelo Garegnani of the amount of € 3,000 (before tax), aimed at young scholars who are engaged or plan to engage in research in economic analysis along the lines of the work of Pierangelo Garegnani.

The Prize is awarded to researchers in the field of Economics who are attending a PhD course, or have defended since 2015 their PhD thesis, in Italian or foreign Universities. The applications must be submitted by electronic mail to: centro.sraffa@uniroma3.it The application must be accompanied by the following documents:

The application and the attached documents must be written either in English or in Italian. If the language of the doctoral or graduate thesis is neither of them, an outline (6,000-9,000 words) of the thesis in English or Italian must be attached to the application. The applications will be evaluated by a Committee of three members, appointed jointly by the Board of Directors of Centro Sraffa and the family of Pierangelo Garegnani. The members of the Committee will be preferably chosen among scholars belonging to academic institutions in which Pierangelo Garegnani carried out his research and teaching activities.

Application Deadline: 15 June 2020

Call for Submissions: RHETM's Student's Work-in-Progress Competition

We are delighted to announce the second annual Students’ Work-In-Progress Competition sponsored by Research in the History of Economic Thought and Methodology (RHETM)

The Students’ Work-In-Progress Competition provides an opportunity for students to work with RHETM’s esteemed editors and editorial board members to bring an in-progress draft to fruition and to publish the final manuscript in RHETM, one of the leading outlets in the fields of methodology and history of economics. RHETM’s editorial team will select up to three promising submissions and then work with the authors to bring their essays up to the journal’s exacting publication standards.



Up to three prizes will be awarded. All winning papers will eventually be published in RHETM. In addition, the first- and second-place winners will receive, respectively, $500 and $250 stipends for research-related use.

Review Process

As with our standard review process, we will perform an internal review to determine an initial list of candidates. We will then work with our editorial-board members to select those papers worth dedicating close attention and care to bringing to fruition. Then we will work with the remaining authors to make their papers publishable. The winners of the competition will be determined at the end of this process. The winners will be the best papers that survive this gauntlet.

Submit your works-in-progress to one of the editors of Research in the History of Economic Thought and Methodology: Luca Fiorito, Scott Scheall and Carlos Eduardo Suprinyak

Submission Deadline: 15 June 2020

Winner Announcement: 2019 Warren Samuels Prize

We are delighted to announce that Erwin Dekker of Erasmus University Rotterdam and Pavel Kuchař of the University of Bristol have been awarded the 2019 Warren Samuels Prize for Interdisciplinary Research in the History of Economic Thought and Methodology for their co-authored paper "Lachmann and Shackle: On the Joint Production of Interpretation Instruments." The prize winner is chosen each year by RHETM's editorial board from among the papers accepted for publication in the journal throughout the year. Previous winners include the late Gabriel Oliva, Tom Stapleford, Wade Hands, and Isabella Weber and Gregor Semieniuk. The award carries a $1,000 stipend.

Erwin and Pavel's paper appeared in volume 37B of Research in the History of Economic Thought and Methodology, as part of a symposium on Ludwig Lachmann, guest edited by Giampaolo Garzarelli.

Please submit your work to RHETM via the co-editors Luca Fiorito, Scott Scheall, Carlos Eduardo Suprinyak. We are currently considering proposals of topics for future symposia, as well as new submissions of general-research essays, archival pieces, and book reviews.


Accounting, Organizations and Society 82

Dessalegn Getie Mihret, Soheila Mirshekary, Ali Yaftian: Accounting professionalization, the state, and transnational capitalism: The case of Iran

Jane Andrew, Max Baker: The radical potential of leaks in the shadow accounting project: The case of US oil interests in Nigeria

Darren T Baker, Deborah N Brewis: The melancholic subject: A study of self-blame as a gendered and neoliberal psychic response to loss of the ‘perfect worker’

Claudine Grisard, Marcia Annisette, Cameron Graham: Performative agency and incremental change in a CSR context

Competition and Change 24 (2): Special Issue on "The Enactment of Neoliberalism in the Workplace"

Pete Thomas, Louise McArdle, and Richard Saundry: Introduction to the special issue: The enactment of neoliberalism in the workplace: The degradation of the employment relationship

Beverly Geesin and Simon Mollan: Taxis for neoliberalism! Surveillance and resistance in post-industrial Philadelphia

Rich Moth: ‘The business end’: Neoliberal policy reforms and biomedical residualism in frontline community mental health practice in England

Constantine Manolchev: Sensemaking as ‘Self’-defence: Investigating spaces of resistance in precarious work

Chitalu Kabwe and Smita Tripathi: My talent or yours? A labour process analysis of talent management in practice

Ecological Economics 172

Orlando Ragnisco, Massimo Scalia, Aurelio Angelini, Francesca Farioli, Gianni Francesco Mattioli, Marialuisa Saviano: An Ecology and Economy Coupling Model. A global stationary state model for a sustainable economy in the Hamiltonian formalism

Moritz A. Drupp, Stefan Baumgärtner, Moritz Meyer, Martin F. Quaas, Henrik von Wehrden: Between Ostrom and Nordhaus: The research landscape of sustainability economics

Jacob Smessaert, Antoine Missemer, Harold Levrel: The commodification of nature, a review in social sciences

Penelope Buckley: Prices, information and nudges for residential electricity conservation: A meta-analysis

Hanna Lindström, Sofia Lundberg, Per-Olov Marklund: How Green Public Procurement can drive conversion of farmland: An empirical analysis of an organic food policy

Jeffrey Althouse, Giulio Guarini, Jose Gabriel Porcile: Ecological macroeconomics in the open economy: Sustainability, unequal exchange and policy coordination in a center-periphery model

G. Bachner, J. Mayer, K.W. Steininger, A. Anger-Kraavi, T.S. Barker; Alistair Smith: Uncertainties in macroeconomic assessments of low-carbon transition pathways - The case of the European iron and steel industry

Andrea Gatto, Carlo Drago: Measuring and modeling energy resilience

Paola Vesco, Shouro Dasgupta, Enrica De Cian, Carlo Carraro: Natural resources and conflict: A meta-analysis of the empirical literature

Louison Cahen-Fourot: Contemporary capitalisms and their social relation to the environment

Pablo Piñero, David Pérez-Neira, Juan Infante-Amate, María L. Chas-Amil, Xoán R. Doldán-García: Unequal raw material exchange between and within countries: Galicia (NW Spain) as a core-periphery economy

Benjamin H. Lowe, David R. Oglethorpe, Sonal Choudhary: Comparing the economic value of virtual water with volumetric and stress-weighted approaches: A case for the tea supply chain

Xiaoqian Hu, Chao Wang, Ming K. Lim, Wei-Qiang Chen: Characteristics of the global copper raw materials and scrap trade systems and the policy impacts of China's import ban

Leila Eamen, Roy Brouwer, Saman Razavi: The economic impacts of water supply restrictions due to climate and policy change: A transboundary river basin supply-side input-output analysis

David Batker: Implementing ecological economics

Jane N. O'Sullivan: The social and environmental influences of population growth rate and demographic pressure deserve greater attention in ecological economics

Emilie Dupuits, Michiel Baud, Rutgerd Boelens, Fabio de Castro, Barbara Hogenboom: Scaling up but losing out? Water commons' dilemmas between transnational movements and grassroots struggles in Latin America

Özge Can Dogmus, Jonas Østergaard Nielsen: The on-paper hydropower boom: A case study of corruption in the hydropower sector in Bosnia and Herzegovina

Historical Materialism 28 (1)

Jeffery R. Webber: A Great Little Man: The Shadow of Jair Bolsonaro

Elena Louisa Lange: Money versus Value?

Fabio Bruschi: A Necessary but Impossible Political Practice: Althusser between Machiavelli and Marx

Geoffrey McCormack: Canadian Banking Stability through the Global Financial Crisis of 2007–8

Filippo Menozzi: Inheriting Marx. Daniel Bensaïd, Ernst Bloch and the Discordance of Time

Omar Acha: From Marxist to Post-Marxist Populism: Ernesto Laclau’s Trajectory within the National Left and Beyond

Carlos García Mac Gaw: The Ancient Mode of Production, the City-State and Politics

History of Economics Review 74 (1)

Fabio Petri: Capital Theory 1873–2019 and the State of Macroeconomics

Ross Williams: The Development of Econometrics in Australia: 1930–2000

Guido Erreygers: On the Origins of Econometrics in Australia. The Contributions of Maurice Belz and Robert W. James

Eiko Yamamoto: Graslin’s Subjective Theory of Value as Elaborated in His Debate with a ‘Blind Enthusiast’ of Physiocracy in 1767

Tony Aspromourgos: The Past and Future of Keynesian Economics: A Correction

International Journal of Pluralism and Economics Education 10 (4)

Georg Tafner: Economic education is socio-economic education: foundations of a reflexive business and economic education

Tim Engartner: Cornerstones of socio-economic education: on the importance of contextualising economic issues

Christoph Schank and Alexander Lorch: Sustainability citizenship through economics education? Contributions from the German debate on business ethics

Silja Graupe: 'To see the world with different eyes': thoughts on existential orientation in socio-economic education

Christian Fridrich: Socio-economic education in the school subject 'geography and economics education' in Austria: history, trends, issues and attitudes

Reinhold Hedtke: The social science principle in socio-economic didactics

Journal of World Economy (Revista de Economia Mundial) 54

David Rodeiro-Pazos, María Jesús Rodríguez-Gulías, & Vítor Manuel de Sousa Gabriel: The effect of Good Governance on Business creation: a Multilevel approach

Jose A. Pérez Montiel & Carles Manera Erbina: Permanent Demand and Private investment in the General theory: an empirical investigation

Malgorzata Kokocin´ska & Marcin Puziak: Evolution of regional income disparities in large European Economies

Pablo Ignacio Chena & Deborah Mercedes Noguera: Efectos macroeconómicos de las cadenas Globales de valor En la balanza comercial

Clara Belén Martos Martínez & Marta Muñoz Guarasa: Importancia de las capacidades dinámicas en el proceso de Internacionalización: el caso de los KIS

Joan Ramon Sanchis-Palacio, Vanessa Campos-Climent, Ana Teresa Ejarque-Catalá: La Economía del Bien Común como modelo transformador. Análisis comparativo por países en Europa

Metroeconomica 71 (2)

Chiara Mussida, Maria Laura Parisi: Risk of poverty in Southern Europe

Mariangela Bonasia, Rosaria Rita Canale, Salvatore Capasso, Marcella D’Uva: Fiscal rule compliance, poverty and social exclusion in the Eurozone

Susumu Cato: Incompleteness, regularity, and collective preference

Alessandra Pelloni, Thanasis Stengos, Ilaria Tedesco: Aid to agriculture, trade and structural change

Jean‐Paul Chavas: On fairness, efficiency and social structure

Isabel Almudi, Francisco Fatas‐Villafranca, Gloria Jarne, Julio Sanchez‐Choliz: An evolutionary growth model with banking activity

Guilherme de Oliveira, Gilberto Tadeu Lima: A green Lewis development model

Christian Bidard: Conditions for linearity of the wage curve

New Political Economy 25 (3)

Lena Rethel & Elizabeth Thurbon: Introduction: Finance, Development and the State in East Asia

Elizabeth Thurbon: The Future of Financial Activism in Taiwan? The Utility of a Mindset-centred Analysis of Developmental States and Their Evolution

Robyn Klingler-Vidra & Ramon Pacheco Pardo: Legitimate Social Purpose and South Korea’s Support for Entrepreneurial Finance Since the Asian Financial Crisis

Lena Rethel: Governed Interdependence, Communities of Practice and the Production of Capital Market Knowledge in Southeast Asia

Julian Gruin & Peter Knaack: Not Just Another Shadow Bank: Chinese Authoritarian Capitalism and the ‘Developmental’ Promise of Digital Financial Innovation

Alen Toplišek: The Political Economy of Populist Rule in Post-Crisis Europe: Hungary and Poland

Nuno Ornelas Martins: Human Development: Which Way Now?

Angus McNelly: Neostructuralism and Its Class Character in the Political Economy of Bolivia Under Evo Morales

Ali Bhagat: Governing Refugee Disposability: Neoliberalism and Survival in Nairobi

Muyang Chen: State Actors, Market Games: Credit Guarantees and the Funding of China Development Bank

Review of Behavioral Economics 7 (1)

Jerzy Osinski, Adam Karbowski and Jan Rusek: Social Discounting: Preference Reversals and Links with Temporal Discounting

Miguel Luzuriaga, Antonio Heras and Oliver Kunze: Hurting Others versus Hurting Myself, a Dilemma for Our Autonomous Vehicle

Cyril Hédoin: Rethinking Paternalism: Derek Parfit’s Moral Philosophy and Normative Behavioral Economics

Daniel M. Parsons, Nick Feltovich and Philip J. Grossman: The Effect of Leadership on Free-Riding: Results from a Public-Good Experiment

Review of Keynesian Economics 8 (2)

Carlos Aguiar de Medeiros: A Structuralist and Institutionalist developmental assessment of and reaction to New Developmentalism

Luiz Carlos Bresser-Pereira: New and Classical Developmentalism compared: a response to Medeiros

Verónica De Jesús Romo and Julio López Gallardo: Modeling the real exchange rate: looking for evidence of the wage-share effect

Stefan Ederer and Miriam Rehm: Making sense of Piketty's ‘fundamental laws’ in a Post-Keynesian framework: the transitional dynamics of wealth inequality

José A. Pérez-Montiel and Carles Manera Erbina: Autonomous expenditures and induced investment: a panel test of the Sraffian supermultiplier model in European countries

Luke Petach: Distribution and capacity utilization in the United States: evidence from state-level data

Julio Fernando Costa Santos and Ricardo Azevedo Araujo: Using non-linear estimation strategies to test an extended version of the Goodwin model on the US economy

Bruno Thiago Tomio: Understanding the Brazilian demand regime: a Kaleckian approach

Science & Society 84 (2)

Julio Huato: The Reproductive Structure of a Global Socialist Society

David Laibman: China: In the Perspective of Historical Materialism

Shen Hu and Xiaorui Wang: “Liberating the Productive Forces”: Understanding China's Ascent Through Its Labor Market Evolution from the 1970s to the Early 2000s

Christopher Phelps: The Novel of American Authoritarianism

A. Sebastián Hernández and Alan A. Deytha: Work Intensity and Value Formation: A Suggested Interpretation

Charles Reitz: A Note on Marcial González' “Herbert Marcuse's Repudiation of Dialectics”

World Review of Political Economy 10 (3)

Xian Zhang: Notes on Michio Morishima's Understanding of Marxian Economics

Paul Cockshott: How Feasible are Jack Ma's Proposals for Computerized Planning?

Richard Corell and Ernst Herzog: The Theory of Factions in Monopoly Capital

Oleg Komolov: Capital Outflow and the Place of Russia in Core–Periphery Relationships

Jiaxin Zhang and Qingqi Wang: The Role of Chinese Financial Industry in Promoting Reform and Opening up and Serving the Real Economy in the New Era

Linan Li: Aesthetics and the Economic Beauty of Socialism

Iwebunor Okwechime and Olumide A. Adetiloye: In Search of “Greener Pitches”: African Footballers and Labor Market Migration in European Football

Books and Book Series

An East Asian Challenge to Western Neoliberalism: Critical Perspectives on the China Model

by Niv Horesh and Kean Fan Lim | Routledge, 2018

Analysts generally agree that, in the long term, the biggest challenge to American hegemony is not military, but rather China’s economic rise. This perception is spread in no small measure because Xi Jinping has – in the face of patent military inferiority – conducted himself much more boldly on the world stage than Hu Jintao. Meanwhile, China has also begun conjuring up an alternative vision for global leadership, now widely termed as the ‘China model’.

This book therefore offers a critical and comprehensive explanation of the China model and its origins. Using a range of case studies, covering varying historical and geographical approaches, it debates whether the Chinese experience in the last three decades of economic reform should be interpreted as an answer to the reigning hegemony of neoliberalism, or rather a further reinforcement of it. To answer these questions, it provides an investigation into what China may have learned from its East Asian neighbours’ earlier economic successes. It also examines how it is responding to and might even reconfigure the world political-economic system as it develops fresh and potentially more powerful regulatory capacities. Providing a multi-dimensional analysis of the ‘China model’, the book will be of interest to students and scholars of Chinese Economics, Economic Geography and Chinese Studies.

Please find a link to the book here.

Economia del mundo real (Real-World Economics)

by Joaquim Vergés | 2019, Editorial Pirámide (Language: Spanish)

The dominant paradigm in Economics does not explain, or does not explain well, the real workings of our market economies -and this regarding not detail or specialists issues, but fundamental ones. This book starts by showing that the standard model is essentially based on seemingly very technical assumptions, which turn out to be clearly unrealistic when confronted with the vast empirical evidence available. But they are the foundation of such a general postulate of the standard model as that of “the spontaneous trend of free markets (no intervention by public powers) towards perfectly competitive and in-equilibrium (efficient) markets for any good (general equilibrium).

The first chapters are addressed to made explicit these core axioms and deductive assumptions of the orthodox (or neoclassical) explanatory model about how the basis of our market economies works, as well as its propositions and predictions derived —which culminate in the postulate summarised above. The main content is then dedicated to presenting a systematic contrasting of the above with the respective empirical evidence historically accumulated in this regard; especially about: costs and returns to scale, prices, profits rates, enterprises’ overall patterns of behaviour to this respect, and resulting types of markets (in the competence/market power axis). This confrontation shows that such basic assumptions and axioms of the standard model, as well as the propositions and predictions they lead to, can not really be sustained when confronted against the extensive empirical evidence. (Something on the other hand already pointed out long ago by leading economists; though surprisingly ignored by mainstream professionals). And in parallel to this systematic empirical confronting, an alternative explanatory outline on the workings of real market economies is presented, based on the overall patterns inferred from the aforementioned observational evidence.

Please, find a link to the book here.

Farming as Financial Asset Global Finance and the Making of Institutional Landscapes

by Stefan Ouma | 2020, Columbia Press

Since the global financial crisis, the world has seen a stark rise in financial investment in farming and agricultural production. Indeed, finance has been identified as one of the main causes of the so-called “global land rush”. In a world with a growing population that needs to be fed, the financial returns from agriculture are sold as safe bets. The debate that this has caused in the media is frequently alarmist and financiers are blamed for rising land prices, corporate enclosures, the dispossession of smallholder farmers and the expansion of large-scale industrial agriculture.

Stefan Ouma speaks to these concerns via an ethnographic journey through the agri-focused asset management industry. His penetrating analysis of case studies taken from Aotearoa New Zealand and Tanzania allows him to put global finance ‘in place’, bringing into view the flesh-and-blood institutions, globe-spanning social relations, everyday practices and place-based value struggles that are often absent in broad-brushed narratives on the ‘financialization of agriculture’. The book closes with a key question for the ‘Anthropocene’: Which form of finance for which kind of food future?

Please find al ink to the book here.

Feminism, Interrupted: Disrupting Power

by Lola Olufemi | 2020, Pluto Press

More than just a slogan on a t-shirt, feminism is a radical tool for fighting back against structural violence and injustice. Feminism, Interrupted is a bold call to seize feminism back from the cultural gatekeepers and return it to its radical roots.
Lola Olufemi explores state violence against women, the fight for reproductive justice, transmisogyny, gendered Islamophobia and solidarity with global struggles, showing that the fight for gendered liberation can change the world for everybody when we refuse to think of it solely as women's work. Including testimonials from Sisters Uncut, migrant groups working for reproductive justice, prison abolitionists and activists involved in the international fight for Kurdish and Palestinian rights, Olufemi emphasises the link between feminism and grassroots organising. Reclaiming feminism from the clutches of the consumerist, neoliberal model, Feminism, Interrupted shows that when 'feminist' is more than a label, it holds the potential for radical transformative work.

Please find a link to the book here.

Globalization and the Rise of Mass Education

edited by David Mitch and Gabriele Cappelli | 2019, Palgrave Macmillan

This edited collection explores the historical determinants of the rise of mass schooling and human capital accumulation based on a global, long-run perspective, focusing on a variety of countries in Europe, the Middle East, Asia, Africa and the Americas. The authors analyze the increasing importance attached to globalization as a factor in how social, institutional and economic change shapes national and regional educational trends. Although recent research in economic history has increasingly devoted more attention to global forces in shaping the institutions and fortunes of different world regions, the link and contrast between national education policies and the forces of globalization remains largely under-researched within the field.

The globalization of the world economy, starting in the nineteenth century, brought about important changes that affected school policy itself, as well as the process of long-term human capital accumulation. Large migrations prompted brain drain and gain across countries, alongside rapid transformations in the sectoral composition of the economy and demand for skills. Ideas on education and schooling circulated more easily, bringing about relevant changes in public policy, while the changing political voice of winners and losers from globalization determined the path followed by public choice. Similarly, religion and the spread of missions came to play a crucial role for the rise of schooling globally.

Please find a link to the book here.

Narrative Economics: How Stories Go Viral and Drive Major Economic Events

by Robert J. Shiller | 2019, Princeton University Press

In a world in which internet troll farms attempt to influence foreign elections, can we afford to ignore the power of viral stories to affect economies? In this groundbreaking book, Nobel Prize–winning economist and New York Times bestselling author Robert Shiller offers a new way to think about the economy and economic change. Using a rich array of historical examples and data, Shiller argues that studying popular stories that affect individual and collective economic behavior—what he calls “narrative economics”—has the potential to vastly improve our ability to predict, prepare for, and lessen the damage of financial crises, recessions, depressions, and other major economic events.

Spread through the public in the form of popular stories, ideas can go viral and move markets—whether it’s the belief that tech stocks can only go up, that housing prices never fall, or that some firms are too big to fail. Whether true or false, stories like these—transmitted by word of mouth, by the news media, and increasingly by social media—drive the economy by driving our decisions about how and where to invest, how much to spend and save, and more. But despite the obvious importance of such stories, most economists have paid little attention to them. Narrative Economics sets out to change that by laying the foundation for a way of understanding how stories help propel economic events that have had led to war, mass unemployment, and increased inequality.

The stories people tell—about economic confidence or panic, housing booms, the American dream, or Bitcoin—affect economic outcomes. Narrative Economics explains how we can begin to take these stories seriously. It may be Robert Shiller’s most important book to date.

Please find a link to the book here.

Recharting the History of Economic Thought

by Kevin Deane and Elisa Van Waeyenberge | 2020, Red Globe Press

This new textbook takes a thematic approach to the history of economic thought, introducing current economic issues and examining the relevant arguments of key economists. By taking this innovative approach, the book sets these pivotal ideas in a contemporary context, helping readers to engage with the material and see the applications to today's society and economy. Based on courses developed by the authors, the text introduces a range of perspectives and encourages critical reflection upon neoclassical economics. Through exposure to a broader spectrum of sometimes conflicting propositions, readers are able to evaluate the strengths, weaknesses and relevance of different economic theories.

Recharting the History of Economic Thought is an invaluable companion for those taking courses in the History of Economic Thought, the Development of Economic Ideas, Developing Economic Thinking or Economic Thought and Policy. It will also appeal to anyone looking for an introduction to pluralist approaches to economics.

Please find al ink to the book here.

Split: Class Divides Uncovered

by Ben Tippet | 2020, Pluto Press

How can we make sense of a world where we have both too many billionaires and too many foodbanks? We're supposed to go to university, forge a career, get wealthier, buy a house - but why is that so hard for most of us to achieve? Split makes sense of our world by looking at class society - delving into the deep-rooted economic inequalities that shape our lives. From the gig economy, rising debt and the housing crisis that affects the majority of people, to the world of tax havens and unfair inheritance that affect the few… Now is the time to fight back against the 1%.

Please find a link to the book here.

The Conservation Revolution: Radical Ideas for Saving Nature Beyond the Anthropocene

by Bram Büscher and Robert Fletcher | 2020, Verso Books

Conservation needs a revolution. This is the only way it can contribute to the drastic transformations needed to come to a truly sustainable model of development. The good news is that conservation is ready for revolution. Heated debates about the rise of the Anthropocene and the current ‘sixth extinction’ crisis demonstrate an urgent need and desire to move beyond mainstream approaches. Yet the conservation community is deeply divided over where to go from here. Some want to place ‘half earth’ into protected areas. Others want to move away from parks to focus on unexpected and ‘new’ natures. Many believe conservation requires full integration into capitalist production processes.

Building a razor-sharp critique of current conservation proposals and their contradictions, Büscher and Fletcher argue that the Anthropocene challenge demands something bigger, better and bolder. Something truly revolutionary. They propose convivial conservation as the way forward. This approach goes beyond protected areas and faith in markets to incorporate the needs of humans and nonhumans within integrated and just landscapes. Theoretically astute and practically relevant, The Conservation Revolution offers a manifesto for conservation in the twenty-first century—a clarion call that cannot be ignored.

Please find a link to the book here.

The Core-Periphery Divide in the European Union. A Dependency Perspective

by Rudy Weissenbacher | 2019, Palgrave Macmillan

COVID19 brings, again, to the fore the structural problems and imbalances of (European) capitalism, particularly between core and periphery. When Cuban and Romanian doctors come to the rescue of Italy in distress, while EU core governments ward off common EU bonds in order to avoid the sharing of crisis costs, current events seem to be an unsurprising update to the arguments in this book. Capitalism produces socio-spatial imbalances and the European Union is no exception. This book starts by revisiting the forgotten history of the 'European Dependency School' (EDS) in the 1970s and 1980s, which very much indicates that the (Western) European integration process was full of discrepancies from the very beginning (and not just took a wrong neoliberal turn). Even more conventional economic policies were doomed to fail, because solidarity ends where competition begins. EDS propositions for an alternative political economy (e.g. self-reliance) as an answer to the caesura of the 1970s were washed away, however, by the neoliberal wave. Some of their ideas seem to reappear with climate change, multiple crises, disintegration processes of the EU, and now in the discussions on the aftermath of COVID19. After all, a 'developmentalist illusion' (Giovanni Arrighi) was ingredient also of the EU ideology of convergence and cohesion. In the analysis of the recent core-periphery divide in the EU, this book argues that conventional industrial policies in a capitalism of transnational companies (and the commodity chains they control) are limited as regards climbing the core-periphery hierarchy ('a ladder without upper rungs'). The book also discusses the geo-political framework of global commodity chains that unevenly distributes the revenues of production between core and periphery, and within core and periphery, respectively. The escalating class conflicts had led to partial reformulations of global economic policies (commodity chains, 'globalization') already before the current COVID19 crisis. The final chapter presents considerations on the current 'terminal crisis' (Giovanni Arrighi) of capitalism and explores alternative policies drawing on EDS thought.

Please find a link to the book here.

Wageless Life: A Manifesto for a Future beyond Capitalism

by Ian G. R. Shaw and Marv Waterstone | University of Minnesota Press, 2019

Drawing up alternate ways to “make a living” beyond capitalism: To live in this world is to be conditioned by capital. Once paired with Western democracy, unfettered capitalism has led to a shrinking economic system that squeezes out billions of people—creating a planet of surplus populations. Wageless Life is a manifesto for building a future beyond the toxic failures of late-stage capitalism. Daring to imagine new social relations, new modes of economic existence, and new collective worlds, the authors provide skills and tools for perceiving—and living in— a post-capitalist future.

Please find a link to the book here.

Heterodox Graduate Programs, Scholarships and Grants

Call for Application: Frederic S. Lee Heterodox Economics Scholarship

The Frederic S. Lee Heterodox Economics Scholarship Fund is now accepting applications for the Fall 2020 semester. In order to be eligible,students must be enrolled in a doctoral heterodox economics program in the United States and demonstrate financial need. The fund will not provide scholarship aid for dissertation credit hours or for credit hours that are not directly relevant for the completion of the doctoral program’s course work.

More information including the selection criteria and the on-line application can be found online.

Application Deadline: 15 May 2020

International Master's Course: Economic Policy in the Age of Globalization (EPOG) 2.0

The objective of the new EPOG programme (EPOG 2.0) is to rethink targeted competencies in macroeconomics, innovation and economic development through the lens of the imperative ecological transition to a low-carbon economy. This is the purpose of EPOG 2.0, an innovative master program that articulates systematically how sustainability issues penetrate macroeconomic policy-making, innovation trends, corporate responsibility and development activity.

The core design of the EPOG 2.0 Master’s relies on the development of an expertise in a specific field and a general understanding of interdependencies among economic policies with a precise, consistent and continuous course progression. Additional students can be enrolled directly in the second year (“1-Year-Programm students”).The successful students will only be awarded a Sorbonne Paris Nord “analyse et politiques économiques” degree if they are in Option I or an Université de Paris APE degree if they are in Option II. With the exception of the awarded degrees policy, these students and the 2-YEAR-PROGRAMME students will be treated similarly.

How to apply

Please anticipate the fact that the application process is quite long and that it is recommended to start as early as possible. Note also that two recommendation letters are needed to apply and have to be provided by the deadline. Please also consider thoroughly the options you wish to apply for since the focus of courses and the host institutions according to the option. To apply for the 1-year programme, please select “Applicant Master 2 (1 year)”. Please find more information on application procedure here or visit the official website.

Application Deadline: 10 May 2020 (23:59 PM, Paris time)

PhD Studentship in Political Economy (Manchester Metropolitan University, UK)

Understanding the Treasury’s distinctiveness in UK economic governance

As the UK’s finance and economics department, the Treasury has a vast role in economic policy making. Yet the department has been relatively under-studied, even within the field of political economy, where the role of political institutions and powerful actors in shaping economic development is a core focus of inquiry. This project will examine the Treasury’s role, status and influenced in the UK’s highly centralised political-economic structures, interrogating assumptions about its character and norms in order to develop a better understanding of one of the most important economic policy institutions in the world. The institutional structure and operations of the Treasury – within wider Whitehall and Westminster machinery – will be a central to the project, with a focus on the ideological commitments, material interests and power dynamics identifiable in relevant processes. Specific policy areas that the research will focus on will be determined by the successful candidate in discussion with the supervisory team.

Full information, including on how to apply, is available here.

Application Deadline: 29 May 2020

Union for Radical Politics Economics: Dissertation Fellowship Application

URPE invites doctoral candidates in any discipline with an approved dissertation proposal in the area of radical political economics to apply for the URPE Dissertation Fellowship. The URPE dissertation fellow will receive $6500 to support their dissertation writing during the 2020-2021 academic year.

Applicants should submit:

Please click here to submit your application for the URPE Dissertation Fellowship

Submission Deadline: 31 May 2020

Calls for Support

EuroMemo Group statement: The COVID-19 crisis - a turning point for the European project

We invite all colleagues who share the analysis and policy proposals to endorse the statement, by sending a short email with your name and institutional affiliation or place of residence to the following address: info@euromemo.eu. The statement will be then be disseminated to the media and press.

The COVID-19 crisis - a turning point for the European project

Statement of the EuroMemo Group, 31 March 2020

In the face of immense human suffering all across Europe, the COVID-19 crisis is without doubt a critical test of solidarity for the European Union, and also for the world. After the inadequate economic policy response to the 2008 global financial and economic crisis, another failure to reach effective and cooperative responses might exacerbate social and political tensions between Member States. In that case, a further stagnation if not collapse of the project of European integration would be unavoidable.

If nothing else, the COVID-19 epidemic has temporarily done away with the fetish of EU economic policy – that is ‘austerity’. Confronted with mass unemployment and unprecedented levels of company bankruptcies as a consequence of the government shutdown of economic activity, the neoliberal and conservative policy elites have quickly enacted massive public support programs in the aggregate size of 10 or more per cent of EU GDP. The European Commission suspended the debt criteria of the fiscal compact and effectively shelved the stringent state aid rules, while after some reluctance the ECB continued its policy of expanding credit to the financial system. The central economic dogma of the last decade that more than anything else bears responsibility for the political and economic problems that the EU faces today, has been quickly dropped in the attempt to save the capitalist system from a potentially existential crisis. However, this is not necessarily a paradigm change, as the financial crisis of 2008/09 has shown.

Similarly, the crisis has mercilessly exposed the tragic policy failures of three decades of privatization and underfunding of the public sector, particularly for the provision of health services. The burden overwhelmingly rests with financially deprived and severely understaffed public health systems. The vital importance of a strong public sector is amply demonstrated by this crisis and puts an end to the neoliberal fairy-tale of the minimal state. That the COVID-19 crisis is exposing the terrible consequences of fiscally strangled public sectors, particularly in countries like Italy, Spain and Greece that suffered the most from the economic polarization and fiscal austerity imposed on them during the last decade, is no coincidence.

Against this background, the lack of solidarity demonstrated by Germany, the Netherlands, Austria and other EU members vis-à-vis the countries suffering most from the pandemic is tragic. Export bans of medical equipment, border shutdowns and most importantly, the stubborn refusal to even introduce Corona-bonds, if not more extended and permanent forms of debt mutualisation, do tremendous damage to the political cohesion of the EU. That in this situation political leaders like Italian Prime Minister Giuseppe Conte ostensibly highlight the support received from China, Russia and other countries, is telling of the widespread frustration with the political situation in the EU.

What is more, conservative and nationalist forces use the crisis to block any solution to the appalling humanitarian situation for the refugees currently stranded at the EU borders and the Greek islands. At its own peril, the EU is also ignoring the impending humanitarian as well as economic crisis in the Global South, and particularly in the African continent.

The COVID-19 crisis will thus not only be remembered as a humanitarian disaster involving the avoidable loss of thousands of lives, but likely as a breaking point for the project of European integration. The crisis will produce large social costs in the form of high levels of unemployment, increased levels of poverty and a further widening of inequality. Given the distribution of competences between the Union and Member States, the central role of national governments during the critical phase of the epidemic has been largely unavoidable. Once the worst phase of the crisis levelled off, the constraints of national governments to deal with the social and economic consequences of the crisis will however become apparent.

The high degree of financial and economic integration necessitates a coordinated and cooperative programme at the EU level to rebuild the European economy. This programme must decisively break with the neoliberal orientation of EU policies during the last three decades. It must transform the European economy towards a model of production and consumption that is truly socially inclusive and environmentally responsible. To this end, the European Green Deal must be turned into a European Green New Deal. The social dimension must be prioritized with EU level policy proposals to tackle mass unemployment, poverty and inequality. The damage done to public services by the neoliberal dogma needs to be corrected through their upgrading. The environmental dimension must transform our energy, transport and food systems as well as decisively reduce our ecological footprint and carbon emission levels. The democratic dimension must involve citizens in co-deciding on investment priorities, in particular at regional and local level.

The financing of government initiatives not only to overcome the current crisis, but also to deal with the legacy of this crisis and to build a sustainable future cannot be done by national governments individually. Common measures, including the issuing of Eurobonds and a sizable EU budget, already advocated by many countries in the EU, need to be introduced. The COVID-19 crisis has demonstrated that the financial means to implement a massive pan-European program of socio-ecological transformation are available, if the political will to mobilize them exists. Similarly, international initiatives for debt relief and development assistance must be quickly designed and implemented. We call on progressive political forces to unite behind this agenda and together press for profound political change.

The European Economists for an Alternative Economic Policy in Europe (the EuroMemo Group) is a network of European economists committed to promoting full employment with good work, social justice with an eradication of poverty and social exclusion, ecological sustainability, and international solidarity.

The Steering Committee of the Euromemo Group is composed of: Marija Bartl (Amsterdam), Marcella Corsi (Rome), Judith Dellheim (Berlin), Wlodzimierz Dymarski (Poznan), Marica Frangakis (Athens), John Grahl (London), Peter Herrmann (Rome), Laura Horn (Roskilde), Maria Karamessini (Athens), Jeremy Leaman (Loughborough), Mahmood Messkoub (The Hague), Heikki Patomäki (Helsinki), Ronan O'Brien (Brussels), Werner Raza (Vienna), Magnus Ryner (London), Angela Wigger (Nijmegen)

Contact: info@euromemo.eu

The statement is supported by: ...

Deadline for endorsement: 2 April 2020 (12:00 am)

Open Letter of European Economists to the Presidents of the EU Institutions and to the Heads of State and Government of the Member Countries

Open Letter, 01.04.2020

The spreading of Covid-19 has determined the most serious global health and economic disruption hitting the whole world since World War II. The health systems, families, individuals and firms across the whole of Europe need an urgent and significant help. The necessary measures include:

  1. Providing resources to the health systems to cure the infected patients and to prevent new infections.
  2. Providing temporary unemployment benefits to all workers who will be losing their job.
  3. Helping families and young, elderly and disabled individuals to satisfy the additional needs resulting from the crisis.
  4. Providing subsidies and financial assistance to firms that have to cease or reduce their production.
  5. Financing the education system to implement distance learning.
  6. Financing the operations of Non-governmental organisations in their role of social support.
  7. Financing a European-wide investment plan on infrastructures and environment capable of relaunching in a sustainable way the European economy.

The European Commission has provided 25 billion euros and has suspended the fiscal rules that the European Union countries are subject to. The European Central Bank has eventually provided a 750 billion euros temporary umbrella. It could not be otherwise but, although we appreciate these efforts, we believe that they are not sufficient. An extraordinary fiscal backstop of yet unquantifiable amount will be necessary, but countries cannot be left alone standing on their own fiscal feet.

If that were the case, national debt burdens would explode, no matter how comfortable today’s fiscal space may appear. Hence fiscal measures would lack credibility, thereby determining counterproductive market reactions that would increase risk premia, disrupt European financial markets, and – in the Eurozone – put an excessive burden on the European Central Bank: a remake of the 2010-2012 sovereign debt crises on an immeasurable scale. Even more importantly, any constraint on single countries’ ability to fight the pandemic and its economic consequence is a threat to people in all other countries. If this serious emergency is not correctly addressed, the health and lives of millions of citizens will be under existential threat.

We are facing a Union-wide unprecedented challenge, we need a Union-wide unprecedented strategy. Therefore, we join to encourage the European Union to do “whatever it takes” to fight the pandemic, relieve citizens’ pains and support the economy across all countries taking an active role in financing, coordinating and implementing the necessary measures. As a result,

We propose

that the resources that are necessary to respond to the emergencies that are hitting all European Union countries be collected in a common, centralized fund under the responsibility of the Union’s institutions (e.g. the Commission), avoiding an unsustainable increase in national debts. Any member country should have access to this fund based on documented needs and consistent plans agreed upon with the aforementioned institution; in case of difficulties in reaching a decision, the resources should be distributed to member states on population proportion.

As to the means needed to create the fund, several proposals are being put forward. In line with other appeals that we also subscribe to, we propose issuing Eurobonds, that we suggest calling “European Renaissance Bonds”. These bonds could be backed by some common fiscal capacity or other financial instruments created ad-hoc, considering that the fear of moral hazard cannot play any role under the present circumstances. Moreover, let us stress that this new common debt will not imply any mutualisation of existing sovereign debts but will refer only to the expenses that are needed to face the huge common shock hitting all EU countries. If a collective political determination and consensus emerges, no technical problem is unsurmountable.

After all, why was the European Union created? Why should we, European citizens, stay together if we are not even capable of providing a common response to the common menace that is threatening us? Without a common response the future of the Eurozone and European Union would be seriously at risk.The EU should transform these difficult days into an opportunity. It is time to prove the true meaning of the long integration process that has created the European Union and the Eurozone institutions. Now a common action is needed urgently to prevent an irreversible damage.

Tiziana Assenza (Toulouse School of Economics, France), Andrea Boitani (Università Cattolica, Milan, Italy), Sheila Chapman (LUMSA, Rome, Italy), Nicos Christodoukakis (Athens University of Economics, and LSE, UK), Fabrice Collard (Toulouse School of Economics, France), Paul De Grauwe (London School of Economics, UK), Pompeo Della Posta (Università di Pisa, Italy), Michele Grillo (Università Cattolica, Milan, Italy), Jens Hӧlscher (Bournemouth University, UK), Klaus Kempf (Bayerische Staatsbibliothek, München, Germany), Jackie Krafft (Université Côte d’Azur, France), Luisa Lambertini (Ecole Polytechnique Fédérale, Lausanne, Switzerland), Enrico Marelli (Università di Brescia, Italy), Mario Morroni (Università di Pisa, Italy), Marcello Signorelli (Università di Perugia, Italy), Roberto Tamborini (Università di Trento, Italy), Hans-Michael Trautwein (University of Oldenburg, Germany), Amy Verdun (Leiden University, Netherlands), Hans-Jürgen Wagener (Europa Universität Viadrina, Frankfurt/-Oder, Germany)

More than 1850 personalities have already signed. The list of signatories, partial and provisional (which will be updated), can be seen here. The open letter can be signed here.

The Complete Works of Rosa Luxemburg

The board of the Verso Complete Works of Rosa Luxemburg project is seeking to expand in order to continue our historic project of translating all of Luxemburg’s writing in to English for the first time, making them available to new generations at a moment of resurgent interest in socialism. We are looking for individuals with knowledge of, and interest in, Luxemburg’s life and work and the history of the international socialist movement who can assist with planning, education, outreach, fundraising, and editing future volumes. We encourage applicants with strong knowledge of German and/or Polish, although that is not required. Board members regularly correspond via email on various aspects of the project and meet once every two months via video conference call. While we do not have the funding necessary to pay board members, this is an opportunity to be part of an exciting and valuable collaborative endeavour to preserve and expand the legacy of an inspiring revolutionary.

Please send CV and a cover letter to Peter Hudis, at phudis55@gmail.com.

For Your Information

Review of Political Economy: Call for Associate Editor

Job title: Associate Editor

The Review of Political Economy* (ROPE) is looking to recruit additional Associate Editors (AEs) to join the existing Editorial Team.

We seek research-active scholars, with appropriate social networks, to handle contributions in various specialist areas including (but not limited to):

  1. Econometrics
  2. Microeconomics

ROPE is especially interested in applicants from South America, Europe and Australia. The role of an Associate Editor is to assist the Editor in getting submissions reviewed in a timely fashion, evaluate the manuscripts, and making recommendations to the Editor. As a key member of the Editorial Team, an Associate Editor is tasked with maintaining the quality levels of the Journal, evaluating the contribution of submitted manuscripts and providing their guidance on the suitability of the article for publication. They should be passionate about their subject area, engaged with the research community, and willing and able to promote the Journal and its contents as appropriate. Typically, an Associate Editor will handle approximately 40 papers per year. Please send your CV and a statement of suitability for the role to the Publisher and to the Editor.

*The Review of Political Economy (ROPE) is a double-blind peer-reviewed journal welcoming constructive and critical contributions in all areas of political economy, including but not limited to Austrian, Behavioral Economics, Ecological, Feminist Economics, Institutionalist, Marxian, Post-Keynesian, and Sraffian traditions. The Review publishes both theoretical and empirical research, and is also open to submissions in methodology, economic history and the history of economic thought that cast light on issues of contemporary relevance in political economy. Comments on articles published in the Review are encouraged.

Application Deadline: 30 April 2020

The Black Economists Network (T-BEN)

Some of you might know it, The Black Economists Network (T-BEN). They are fairly new (since July 2019 on Twitter), their Twitter account is here. From their description “T-BEN is an UK based organisation which seeks to connect, support and inspire black economists whilst tackling the lack of diversity in the field. The network is not explicitly heterodox but also features heterodox economists. Nevertheless since economics has a diversity problem (here and here), it might be a useful resource and interesting perspective.