Issue 46: July 14, 2007

From the Editor

In the last Newsletter I mentioned an article on “Hip Heterodoxy”. In the Wednesday July 11, 2007 of the New York Times there is an article on “In Economics Departments, A Growing Will to Debate Fundamental Assumptions”. I think you will find it interesting and perhaps useful in dealing with your own circumstances. I am mentioned and Max Sawicky gives a good plug for the Economic Policy Institute. If you want pictures, you need to get a copy of the NYT.

While the Newsletter the usual new call for papers, jobs for heterodox economists, PhD scholarships, etc., there are a couple of items I would like to highlight. One is the Journal of Economic Surveys which has just put out a special issue on “Issues in Heterodox Economics.” Secondly, Andrew Mearman has written a paper on teaching heterodox economics which you might find interesting—it is under the section on “Heterodox Conference Papers”. Thirdly, Paul Davidson has a new book coming out entitle John Maynard Keynes—you can read about it in the section on “Heterodox Books”. Finally, under the FYI section, there is a paper by B. Frey with the provocative title “Publishing as Prostitution” which you might find interesting.

Fred Lee

In this issue:
  Call for Papers
  - Post Keynesian Perspectives on Development Economics
- 10th Sustainable Development Conference
- Research Network Macroeconomic Policies
- China and Global Capital Accumulation: Economic, Political, Social, and Environmental Implications
- Review of Radical Political Economics
- Review of Radical Political Economics-2
- The Institutional and Social Dynamics of Growth and Distribution
- Modern (Industrial) Competitiveness 
  Conferences, Seminars and Lectures
  - 2007 URPE Summer Conference
- Ragnar Nurkse (1907-2007)
- EuroMemorandum Group
- Book launch for Andrew Kliman's _Reclaiming Marx's 'Capital'_
  Job Postings for Heterodox Economists
  - Postdoctoral Research Vacancies in Development Education
- United Steelworkers
- Western New England College
  Heterodox Conference Papers and Reports and Articles
  - Handbook for Economics Lecturers
  Heterodox Journals and Newsletters
  - economic sociology - the european electronic newsletter
- Homo Oeconomicus
- International Journal of Political Economy- v35
- International Journal of Political Economy- v36
- Journal of Economic Surveys
- Metroeconomica
- Associative Economics Bulletin
- Revista De Economia Institucional
  Heterodox Books, Book Series, and Book Reviews
  - Edward Elgar
- Keynes and his Battles
- John Maynard Keynes
- World Economic and Social Survey 2007: Development in an Ageing World
- Competition: The Birth of a New Science
- National Perspectives on Globalization: A Critical Reader
- Regional Perspectives on Globalization: A Critical Reader
Heterodox Graduate Program and PhD Scholarships
- Allocation De Recherche Du Ministere de L'Enseignement Superieur Et De La Recherche
- Research Grant from the French Ministry of Higher Education and Research
- Centre for Innovation & Structural Change (CISC)
Heterodox Websites
  - DESA- Policy Notes
- New Post Keynesian Study Group (UK) Web Site
  For Your Information
  - Foreign Policy in Focus
- The Heterodox Economist
- Publishing as Prostitution? Choosing Between One's Own Ideas and Academic Failure

Call for Papers

Post Keynesian Perspectives on Development Economics

SOAS, London, Friday 16 November 2007
Keynote speaker: Professor A. P. Thirlwall on ‘Keynes and Economic Development’

The Committee invites proposals for papers on the theme of the meeting with a strong connection, directly or indirectly, to the work of Keynes.

We are also seeking discussants to read the selected papers in advance and give considered and constructive criticism to the meeting.

We expect to have three one-hour sessions, including 25 minutes for the main speaker in each session, 15 minutes for the discussant, and allowing 20 minutes for discussion from the floor.

Abstracts (about 500 words) should be sent to the Secretary not later than 1 October 2007. If accepted, the final paper will be required in electronic form by 1 November 2007. Submissions from research students are welcome. Thanks to the generous support of Triodos Bank, we will consider applications by post-graduate students for reimbursement of APEX rail fares within the UK.

10th Sustainable Development Conference

The Sustainable Development Policy Institute (SDPI) in Islamabad, Pakistan, organises its 10th Sustainable Development Conference "Sustainable Solutions: A Spotlight on South Asian Research" from December 12-14, 2007.
Download the conference concept note. More information will soon be posted at the conference website
(   ). Your abstracts related to the conference sub-themes/panels are welcome! Deadline for submission is August 1, 2006.

Research Network Macroeconomic Policies

Call for papers (last call)

Please download the call for papers for the 11th conference of the Research Network Macroeconomic Policies again:
‚Finance-led capitalism? Macroeconomic effects of changes in the financial sector’,
Berlin, 26 - 27 October 2007.
Invited speakers include Philip Arestis (Does financial structure matter for growth and development?), Wolfgang Filc (Financial stability and financial crises), Hans-Helmut Kotz (Financial stability and financial crises), Jan Kregel (Global imbalances from a development perspective), Marc Lavoie (Financialisation issues in a Post-Keynesian stock-flow consistent model), Tom Palley (The economics of financialization: what it is, how it works, & what can be done), Hans Michael Trautwein (Employee participation in financial regulation and macroeconomic policies) and Sigurt Vitols (Recent changes in the financial sector).
There will also be sessions in other areas of Keynesian macroeconomics. Please note that we also are looking for submissions for graduate student sessions. Decisions about acceptance will be made in August.

China and Global Capital Accumulation: Economic, Political, Social, and Environmental Implications

Global capital accumulation in the 21st century has increasingly become centered in China. The political economic trajectory of China has become an issue of vital importance not only to the Chinese people but also to the global economy and to political-economic developments in other countries. Indeed, many believe that we are entering a “Chinese century.” A special issue of the Review of Radical Political Economics will explore this topic. The following are examples of specific topics that would be welcome (in no particular order of priority).

(1) Can China continue on its current path of development and at the current pace? What are the economic, social, political, and environmental impacts of its current development path, and what are the limits?

(2) How does the Chinese path to development compare to the development paths being followed in India, other East Asian countries, or elsewhere?

(3) What are the causes and consequences of China's growing inequality of income and wealth? What are the implications of the growing divide by class, legal residency status, and urban vs. rural location for Chinese economic and political development?

(4) What is the impact of China’s growing demand for oil and other non-renewable resources, much of which has been coming from Africa and Central Asia?

(5) What are the implications of the imbalances in trade and capital flows between China and the United States, and more generally between China and the rest of the world?

(6) How does the growing presence of foreign capital affect the political economy of China? How will labor and democratic forces be able to assert their interests in relation to foreign capital?

(7) What kind of economic system has emerged in China? What modes of production are present in China and how can their social formation be characterized? Is it a form of socialism, capitalism, or something else? What are the political-economic implications of this issue?

(8) What is the impact of China’s economic rise on the world labor movement?

(9) What is China's revolutionary legacy and what are its implications for future Chinese workers' and progressive social movements?

(10) What are the implications of China's rapid rise for the political-economic trajectory of a global system in which the United States finds it increasingly difficult to act effectively as the hegemonic power?

Please send four hard copies of submissions for the special issue by August 1, 2008, to Hazel Dayton Gunn, Managing Editor, RRPE, Dept. of City & Regional Planning, 106 W. Sibley Hall, Cornell University, Ithaca, NY 14853, USA. ( )  Submissions must follow the instructions to contributors listed in the back of the journal and available on our Website:  All submissions are subject to the RRPE’s usual review process.

Review of Radical Political Economics

Special Issue- Call for Papers 

The Political Economy of Water

Submissions are due by May 1, 2008
We strongly encourage authors to send a brief title and abstract as soon as possible, so we can coordinate timely publication of the issue

Water is a matter of life and death. Water and food for nutrition enable us to live, but for many of the world’s people the availability of both substances is tenuous at best. While food scarcity has been part of human history, more recent changes have heightened concern that limited availability of water threatens a rising portion of the population. The Editorial Board of the Review of Radical Political Economics seeks formal inquiry and critical analysis, artistic expression, and policy proposals dealing with the political economy of water.

The themes that could be addressed under this call for papers range far and wide. For instance, water is increasingly a commodity in the global marketplace, and it seems likely to be the object of future conflicts within and between societies. Water is a natural resource, but it is frequently polluted by humans. The market could increasingly determine how water is made available to the world’s population, but given problems of market failure, including those excluded from market participation for lack of income, the market will be a brutal determinant of who gets access to this essential substance. On the other hand, if water is a free good, all uses and abuses of it would be possible without carefully constructed and enforceable regulation.

Examples of specific questions of interest that could be addressed include:

•How do current processes for regulating private appropriation of water, for sale or use, work now, and how might they be improved?

•How does the availability of water shape households and the distribution of work in them?

•How might a “life-line” provision of water as a basic right be organized?

•What principles will guide new efforts to assure access to clean and safe water?

•Global land-use patterns and economic development have, and will, hinge on the availability of water. Is the world turmoil we see over petroleum a forerunner of future battles over water?

•Remediation of environmental pollution of water resources takes on increasingly urgent meaning, but resources for this work remain scarce. Can we better understand or modify how global climate changes affect conditions of drought or flooding?

We invite work on these topics and others relevant to the questions of who has and does not have access to water, how privatization affects water, and how this vital resource can be safeguarded and access to it assured.

We invite submissions from a variety of perspectives in political economy, including Marxian, neo-Marxian, post-Keynesian, radical institutionalist, feminist, and postmodern.

Articles should be 5,000 to 10,000 words in length, inclusive of notes and references. The material submitted can be theoretical, empirical, historical, comparative, or based on case study. We also encourage manuscripts employing interdisciplinary approaches.

Please send four copies of submissions for the special issue by 1 May 2008 to:
Hazel Dayton Gunn, Managing Editor
Review of Radical Political Economics
Department of City and Regional Planning
106 W. Sibley Hall
Cornell University
Ithaca, NY 14853, USA
(phone: 315/789-1414; e-mail:

Submissions must follow the instructions to contributors listed in the back of the journal and available on our website. All manuscripts are subject to the RRPE’s usual review procedures and should not be under review with any other publication. We strongly encourage authors to send a brief title and abstract as soon as possible, so we can coordinate timely publication of the issue.

Review of Radical Political Economics-2

Special Issue- Call for Papers 


We are seeking paper submissions for a special issue of the Review of Radical Political Economics that address the role of finance capital in the era of globalization. We are interested in papers on the following general themes: a) the rise to power of finance capitalists; b) how the resulting changes in the balance of power between social classes impacts the laws of motion of capitalism with particular emphasis on accumulation and crises; c) the (in)compatibility of the goals/objectives of finance capitalists with those of industrial capitalists, particularly in a period of increased international competition; d) the impact of any finance-induced macroeconomic changes on labor and the environment; e) the financialization of productive capital, and f) the influence of finance capitalists on domestic and foreign policy formation.

Examples of specific topics of interest that would be welcomed include:

1) The impact of the increased power of owners, investors, and their financial intermediaries on real investment and growth.

2) On the micro level, the rise to power of financial executives within the corporation and their impact on corporate governance and strategic decision making.

3) The role of the ascendant financial sector in generating increased inequality; the role of finance in causing generalized wage repression, reduction, and elimination of private pension benefits, and increased debtor defaults.

4) The increased role of finance in government and central banking institutions, especially with regard to interest rate policies and the gutting of social safety nets in the form of social wages and social security.

5) General analysis of the role of the new “global finance capital,” and especially its center, in fostering neo-imperialist policies including the impact of the new financialization on military and security spending.

6) Finance and the “new rentier capitalism” as it effects dividend payouts, stock market and real estate bubbles.

7) The role of finance in fostering non-sustainable production of commodifiable consumer goods and long-term environmental destruction.

8) The effect of the new “privatization of risk” that has been promoted and implemented by global and national financial sectors and the effect of this on macroeconomic instability, recessions, and “accumulation by dispossession.”

9) The new resurgent power of finance: a viable resurgence of capitalist class power or a destructive rentier restoration that will ultimately undermine global capitalism.

Please send four copies of submissions for the special issue by December 2007 to:
Hazel Dayton Gunn, Managing Editor
Review of Radical Political Economics
Department of City and Regional Planning
106 W. Sibley Hall
Cornell University
Ithaca, NY 14853, USA
(phone: 315/789-1414; e-mail: )

Submissions must follow the instructions to contributors listed in the back of the journal and available on our website:  All submissions are subject to the RRPE’s usual review procedures.

The Institutional and Social Dynamics of Growth and Distribution

Pisa (Italy), 10-12 December 2007

Since Adam Smith, social and economic institutions have been considered as exerting a significant influence on the historical patterns of growth and distribution of nations. More recently, economists have also emphasized that the process of growth and distribution in turn shape the evolution of institutions. Growth and distribution are lenses through which we can investigate the complex interplay of the birth, the life, and the decline of social and economic institutions. And institutional and social dynamics, in turn, are important elements in comprehending the interaction between growth and distribution.
The goal of this Conference is to provide a forum for the presentation and discussion of different approaches to the issues of the institutional and social dynamics of growth and distribution, with all the theoretical, empirical, historical, and methodological implications.

Submitting a Paper
A combination of invited and submitted papers will be chosen for the final program. Submissions of whole sessions are welcome. The submissions will be reviewed by a Scientific Committee consisting of:

Sam Bowles (Santa Fe Institute, USA, and Università di Pisa, Italy)
David de la Croix (Université catholique de Louvain, Belgium)
Oded Galor (Brown University, USA, and Hebrew University of Jerusalem, Israel)
Neri Salvadori (University of Pisa, Italy)
Stephen J. Turnovsky (University of Washington, USA)

It is planned to publish selections of papers in a special issue of Metroeconomica and a larger selection in a volume with a major publisher. Papers that will be published in Metroeconomica will meet its standards. All papers will be made available on the Internet until the end of the Conference.
A dedicated software, Conference Maker, will be used for paper submission and program management through the site  All details are available in the site of the Conference:

Submission of a 1-2 page abstract (if possible, jointly with the whole paper) should be submitted before July 20. Authors will receive notification of acceptance by September 20. The whole papers are to be submitted within October 20. Registration must be completed within October 20.

Modern (Industrial) Competitiveness

You are invited to contribute a paper/chapter to a new book on competitiveness.
Edited by: Claudette Chin-Loy, Nikolaos Karagiannis & Zagros Madjd-Sadjadi
Please download the draft publication outline


Conferences, Seminars and Lectures

2007 URPE Summer Conference

(Union for Radical Political Economics)

Friday, Aug. 10 - Monday, Aug. 13
Camp Deer Run, Pine Bush, NY
See the URPE website --  --  for information on the camp: location, directions, facilities, rates, registration form, etc.

Contact the URPE National Office if you have further questions:  or 413-577-0806
Please register by July 27! Later registration involves an extra fee.
Download our flyer -- let others know about our conference:

call for workshops

Ragnar Nurkse (1907-2007)

August 31- September 1, 2007, Tallinn, Estonia
Classical Development Economics and Its Relevance for Today.
Download Preliminary Schedule

EuroMemorandum Group

13th workshop on alternative economic policy in Europe
September 21st – 23rd, 2007, Brussels

Download Preliminary agenda proposal and Registration Form (June 14th, 2007)

Book launch for Andrew Kliman's _Reclaiming Marx's 'Capital'_

You are cordially invited to a discussion welcoming the launch of a new work on Marxist economic theory, _Reclaiming Marx's 'Capital':
A refutation of the myth of inconsistency_.

Date and Time: 6 pm, Wednesday 11th July

Place: SOAS (Russell Square), Brunei Gallery, Classroom B104 (London, UK)

Martin Graham, review editor, _Communist Review_ Chris Harman, editor, _International Socialism_ journal Michael Roberts, columnist at Alan Freeman, co-editor, _Marx and Non-equilibrium Economics_ Andrew Kliman, author of _Reclaiming Marx's 'Capital'_

David Black, author of _Helen Macfarlane_

The discussion will cover recent developments in Marxian value theory, focussing on Dr Kliman's new book. Copies will be available at the reduced rate of £12, 1/3 off the list price.

'Kliman's arguments operate like a buzz saw clearing away the underbrush of misplaced criticisms that have kept the real _Capital_ hidden. The project is brilliantly and clearly (and for this reader, convincingly) executed.
Highly recommended for all those who need _Capital_ (and who doesn't?).'
-- Bertell Ollman, New York University

'Cutting through swathes of misconception, the author writes in an accessible way especially for the non-specialist reader and keeps the maths to a minimum.' -- _Labour Research_

The School of Oriental and African Studies (SOAS) is located at Russell Square, Bloomsbury, and is close to the British Museum and British Library.
The nearest tubes are Russell Square, Euston and Euston Square. (For additional directions, see attached file containing SOAS maps and flyer about the book, or visit


Job Postings for Heterodox Economists

Postdoctoral Research Vacancies in Development Education

The Development Education and Research Network at NUI Galway (DERN) are offering two post doctoral research fellowships - one full-time 1 year and one 6 month full time/ 1 year half-time post in the area of Development Education. The positions are available from September 2007.

The successful candidate will conduct research on a topic that contributes to theory, knowledge and awareness of development education, its relationship to civic engagement, and/or development of materials which contribute to best practice. S/he will further the mainstreaming of development education at Third Level, working with a research team and the DERN network.

The research will support and expand the distinctive contribution of third level institutions to development education. The research programme aims to enhance the role of development education within third-level institutions, contribute to professional education and research programmes and stimulate public and policy debate on development issues, development education and research.

Candidates should have:
• a PhD in a relevant area, or equivalent practice experience.
• Evidence of current research interests in a relevant area, including publications or policy relevant work.
• Experience or demonstrated knowledge of development education.

The following are desirable:
• Experience of working in a research team,
• Experience and knowledge of working in a developing country/countries.
• Knowledge of rights-based, sustainability and/or poverty reduction issues and approaches.

Salary: €38,623 per annum and pro-rata for part-time/shorter contracts.

Relevant research themes include:
1. Integrating development education, research, policy and practice at third level in Ireland
2. The changing landscape of development policy research and education in Irish Third Level institutions – challenges and opportunities for development education
3. The politics of development policy and campaigning
4. Values in Development Education
5. Integrating environmental education and education for sustainable development (ESD) into development education
Further relevant themes are also invited.

To Apply:
Applicants should provide
• Abstract describing doctoral degree (max. 200 words)
• Description of the project for which the position is being sought (max. 500 words)
• Location of the proposed project within the current state of research and bibliography in the area (max. 400 words)
• Relative significance of the contribution that the proposed project will make to research in the area (max. 400 words)
• List of conference papers and publications.
• CV
• Covering letter

Please send applications via email (in Word or PDF only) to: Only candidates who make the shortlist will be contacted.

Closing date for receipt of applications: 31st July 2007.

United Steelworkers

We currently have a vacancy for a staff position in our Research Department in the Steelworkers National Office in Toronto. A posting for the position is attached--please post and circulate this notice to anyone you believe may be interested. As you will note, applications are due by July 31, 2007.
Thank you.
In solidarity,
Ken Neumann
National Director for Canada
United Steelworkers
Chères consoeur,
Chers confrères,
Il y a une ouverture pour un poste de permanent/e dans notre Service de la recherche au bureau national des Métallos à Toronto. Veuillez trouvez ci-joint l'annonce pour le poste--SVP l'afficher et la faire circuler aux personnes qui pourraient s'y intéresser. Comme vous le verrez, les demandes doivent être reçues au plus tard le 31 juillet 2007.
Ken Neumann
Directeur national pour le Canada
Syndicat des Métallos

Western New England College

Assistant Professor of Economics
Location: Springfield, MA
Category: Faculty - Liberal Arts - Economics
Application Due: 11/15/2007
Type: Full Time
Candidates sought for a fully-funded tenure track position beginning in September 2008. We are primarily a teaching institution seeking candidates with a strong commitment to teaching. However, scholarly activities are expected and play a role in the tenure decision. Faculty normally teach 4 sections per semester. Candidates must be prepared to teach Principles of Economics as well as American Economic History at the upper level. In addition, we would hope that the successful candidate will also be ready willing and able to teach intermediate Macroeconomics if needed. Ph D completion is required prior to the time of appointment. We also offer the opportunity to do interdisciplinary teaching in Women's Studies, African-American Studies, comparative cultures, our Honors program and/or in a general college requirement that combines liberal and professional perspectives. This position is one for which we strongly welcome applications from individuals whose research and teaching interests are in heterodox areas.

A1 - General Economics
N00 - Economic History
B 5 - Current Heterodox Approaches

Western New England College is a private, independent, coeducational institution with undergraduate and graduate programs offered through the College's Schools of Arts and Sciences, Business, Engineering, and Law. For more details on this job, the department and the college, see the website at

Send vita, letter of interest, official or unofficial transcripts from your graduate institution(s), and three letters of recommendations sent directly by the references by November 15, 2007. Arrangements will be made for interviews at the New Orleans meetings of the AEA.

Please send your information to: Economics Search Chair, Professor Michael Meeropol, c/o Dean School of Arts and Sciences, Western New England College, 1215 Wilbraham Road, Springfield, MA 01119. Electronic applications may be sent to
Application Information
Postal Address: Rosa Arce
Human Resources
Western New England College
1215 Wilbraham Road
Springfield, MA 01119-2684
Phone: 413-782-1268
Fax: 413-782-1546
Email Address:


Heterodox Conference Papers and Reports and Articles

Handbook for Economics Lecturers

Andrew Mearman, of UWE, has written a new chapter for the ‘Handbook for Economics Lecturers’ published by the UK Economics Network of the Higher Education Academy. The Economics Network is a publicly funded body which aims to assist teachers of economics in their work. Recently the Network has shown a considerable interest in heterodox economics, which is encouraging for all of us. The chapter discusses rationales for teaching heterodox economics, and strategies for doing so. It stresses pluralism. It is intended to be suggestive, rather than definitive.


Heterodox Journals and Newsletters

economic sociology - the european electronic newsletter

Current Issue:
Vol. 8, No. 3 - July 2007

economic sociology - the european electronic newsletter:

economic sociology - the european website:
economic sociology - call for papers:
economic sociology - job vacancies:

Max Planck Institute for the Study of Societies:

Homo Oeconomicus

Institute of SocioEconomics

Editors: Matthew Braham, Manfred J. Holler, Hartmut Kliemt, Manfred Tietzel
ISSN: 0943-0180
Instructions for authors
Accedo Verlag, Gsener Str. 1, D-81929 München
Tel: 49 89 935714, Fax: 49 89 9294109
volume links
Homo Oeconomicus is a quarterly international refereed journal devoted to the study of classical and neoclassical economics, public choice, collective decision-making, and law & economics.

International Journal of Political Economy- v35

Volume 35 Number 4 / Winter 2006-7 of International Journal of Political Economy is now available on the web site at

This issue contains:

Editor's Introduction

 p. 3

Mario Seccareccia


Economic Power and the Real World: A Post-Keynesian Analysis of Power

 p. 5

Virginie Monvoisin, Louis-Philippe Rochon


Uncertainty, Class, and Power

 p. 31

Engelbert Stockhammer


John Rogers Commons on Power

 p. 50

John Marangos


Economic Power, the State, and Post-Keynesian Economics

 p. 67

Steven Pressman


Author Index to International Journal of Political Economy Volume 35 (Spring 2006-Winter 2006-7)

 p. 87

International Journal of Political Economy- v36

Volume 36 Number 1 / Spring 2007 of International Journal of Political Economy is now available on the web site at

This issue contains:

Globalization Reconsidered: Foreign Direct Investment and Global Governance

 p. 3

Davide Gualerzi


The Contradictions of Latin American Export Promotion: The Growth of Manufactured Exports, Debt, and Deindustrialized Labor

 p. 30

Jon Jonakin


What Can Best Explain the Prevalence of Bilateralism in the Investment Regime?

 p. 53

Jean-Frédéric Morin, Gilbert Gagné


The European Monetary Integration Process and Financial Globalization: The Rationale of the "Creative Imbalance" Model

 p. 75

Catherine Sifakis-Kapetanakis


Journal of Economic Surveys
Issues in Heterodox Economics
July 2007 – Vol. 21 Issue 3



Volume 58, Issue 3, July 2007


INTRODUCTION: A NOTE ON GOODS AND SERVICES AND INPUTRight-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet.
-OUTPUT ANALYSIS Sergio Parrinello





THE GERMAN SERVICE GAP OR: RE-ORGANISING THE MANUFACTURINGRight-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet.
-Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet.
-SERVICES PUZZLE Brigitte Preissl


Associative Economics Bulletin

The Associative Economics Bulletin consists of news and views on associative economics, including short extracts from Associative Economics Monthly (available electronically for £1 an issue at  or in a hard copy format - tel (UK) 01227 738207).

1) The View From Rare Albion, Editorial, AEM JULY 2007
2) Events in the UK


This month we look at the question of research. We are prompted to do so by our commemoration of the work of Walter Johannes Stein and his colleague, Daniel Dunlop, about which we have made much in recent issues. Not only do they both figure large in our image of ‘voices from the 1930s’, but their example serves as a constant reminder of the kind of thing modern economic life stands in great need of - an understanding the earth as a whole and as a being, rather than as a surface covered in markets and resources to be divided up by competing nations on a basis of power and short-term profit. For this, however, humanity needs to take a stand other than that of using the earth to its own individualistic ends and treating it more as the venue in which we learn to serve one another, to share limited resources, to respect and honour different cultures; to husband rather than rape it; to hallow rather than mine it.

Research plays a key part in this because it is the medium by which we think about economic life and thus the key to whether our thinking is trained on narrow, nationalistic objectives, or global, long-term purposes. It is also the place in which the idea can be developed of the economy as such and as something to serve. In the material assembled here, this theme is touched on in particular respects that are worth highlighting. In Sensing the Pulse of Commerce, Johannes Tautz provides an appreciation of Stein’s work with Dunlop, which may, as Stein put it, have passed into oblivion. But did it? Since the early 1940s, much has been developed in the way of national and global statistical analysis. But whatever happened to it? If anything, we are over-analyzed and the main concern here is the nature and purpose of the work being done, the paradigm that underlies it and the use it is out to. Today, much analysis remains nationalistic and its use is subject to ever more stringent competition principles. We do not share resources so much as compete for them. It is the British who insist that this principle becomes enshrined in law in the European Union (note even last month’s attempt by Sarkozy to drop the term, but Gordon Brown’s insistence on retaining and reiterating it).

Research that would serve the earth’s economy, rather than national possession of it, must be independent, but such independence, in Stein’s view displaces reliance on power, and will therefore not easily be achieved. Independence in turn relies on the free gifting of funds, meaning non-conditionally on the outcome of the research.

That we are a long way from this goal is clear. In Sign of The Times, the problem of think- tank funding is tellingly described. While the picture here is of partisanship in the American context, it should be read as an instance of what is a worldwide problem. The War of Ideas imagery is reminiscent of what Stein calls ‘the economic battlefield’ where the issue is put in terms of national versus world interests rather than party political differences, but the essential problem is the same. The Networking, Profile pages and Accountant’s Corner all touch on this theme.

2) 2007 EVENTS

From I to WE - 07/07/07 - A Celebration of the Life of Walter Johannes Stein
Themes of West-East World Polarity following Dr. Stein / The Relevance of Stein’s Work Today
Walter Johannes Stein was an outstanding pupil of Rudolf Steiner and an independent researcher in his own right. In the signature of his life´s journey one can discover a profound concern with the questions of the age: true education, the relationship of East and West, and the need for humanity to give rise to an earth embracing economy. These questions confront humanity still, and there is much to be learned from a closer study of Stein´s approach, which was based on a deep understanding of Rudolf Steiner´s spiritual science and a steadfast courage in his convictions, contrasting clearly with the prevailing hostile conventions of the age. The focus of the day will be to discover by presentation and conversation where we stand today in relation to these key questions. Towards the end of his life Stein spent much of his life in the West Country, making the journey every Friday from London to Gloucester to give weekly lectures at Wynstones School - it is therefore fitting that on the 50th anniversary of his death, this event will be held near the school that he described once as "his only friend in England".

The Challenge of the West
7.30pm. - 9.00pm. – Public Lecture by Christopher Houghton Budd
When Rudolf Steiner met Daniel Dunlop it is as if an ancient meaning of the West was to be rekindled in modern, economic form; as if the Anglo-Saxon community could do more with its use of economics than pursue self-interested hegemony. Along with their colleague, Walter Johannes Stein, what kind of economic life did these two men envisage? Can western economics even now make the step from self-centredness to true world partnership?

Venue - The British School Hall (near Star Anise Café), Stroud, UK
These events will take place under the auspices of the Economics Conference of the Social Sciences Section of the School of Spiritual Science. For further details and to register, please contact Arthur Edwards on 01452 810764 / 07979 935359


This seminar offers a broad introduction to associative economics and provides a starting point for the Diploma in Associative Economics. The Colours of Money seminar has taken place in many parts of the world and in different languages. The next one is in England from 12-14 October 2007. The main subjects covered concern the competence of those responsible for economic activities, the need for appropriate structures, accounting as a universal language, and the importance of clear finances shared in regular meetings. The seminar is open to those thinking of applying for their organisations to become users of the Quality Guarantee Mark, those embarking upon a Diploma in Associative Economics, and anyone interested in furthering associative economics.

For a flier and more details contact (01452 810764). Cost £120.


Revista De Economia Institucional

Volume 9, No. 9 First Semester 2007

Editorial [pdf]


La intersección entre señales económicas y símbolos míticos Cyril Morong [Abstract] [pdf]

¿Qué está mal en la economía contemporánea? Paul Streeten [Abstract] [pdf]

Los fundamentos morales de la economía: una relectura del problema de Adam Smith
José Atilano Pena López y José Manuel Sánchez Santos [Abstract] [pdf]

Los límites de la eficiencia económica en una sociedad democrática Alejandro Agafonow [Abstract] [pdf]

Revisión crítica de los aportes del institucionalismo a la teoría y la práctica del desarrollo
Joan Oriol Prats [Abstract] [pdf]

La reciprocidad y la paradoja del votante
Jorge Andrés Gallego [Abstract] [pdf]

La segmentación del mercado laboral colombiano en la década de los noventa
José Ignacio Uribe, Carlos Humberto Ortiz y Gustavo Adolfo García [Abstract] [pdf]

El poder de voto en el Consejo Nacional de Seguridad Social en Salud
Sandra Milena Rodríguez A. [Abstract] [pdf]

¿Por qué emigran los colombianos? Un análisis departamental basado en el Censo de 2005
David Khoudour-Castéras [Abstract] [pdf]


Reseñas sobre temas económicos
Émile Durkheim
Compilación y presentación de Gonzalo Cataño

La carestía (fragmento)
Wace [pdf]

Notes and Discussions

El institucionalismo norteamericano: orígenes y presente
Paulo Reis Mourão [pdf]

Si el modelo contradice la realidad, peor para la realidad
Yuri Gorbaneff [pdf]

¿Desconocemos los hechos cuando son inconvenientes? Respuesta al profesor Gorbaneff
Geoffrey M. Hodgson [pdf]


Sociedad civil, virtud y comercio
Alberto Castrillón [pdf]

De héroes anónimos, sabiduría convencional y fraudes infames
Bernardo Pérez Salazar [pdf]


Heterodox Books, Book Series, and Book Reviews

Edward Elgar

Edward Elgar would like to extend its 35% ICAPE discount on all titles until the end of August. Customers wishing to use the discount can use the discount code “ICAPE07” on the payment page of our website--  Or they may contact us directly at

Also, under the ‘List of Economic Development Text books for Heterodox Economists 6/2007’ the editor of the Elgar Companion to Development Studies is David Alexander Clark and a paperback edition will be available in December 2007.

Keynes and his Battles

Gilles Dostaler, Université du Québec à Montréal, Canada

‘An extremely informed and readable account of Keynes’s life and achievements, skillfully presented in their context. A teaching aid as well as a reference book, which manages to be both enjoyable and useful.’
– Cristina Marcuzzo, Università di Roma, “La Sapienza”, Italy

This fascinating book brings together and examines all aspects of the life and work of one of the most influential thinkers of the last century, John Maynard Keynes, whose theses are still hotly debated. It combines, in an accessible, unique and cohesive manner, analytical, biographical and contextual elements from a variety of perspectives.

download flyer1.pdf and flyer2.pdf

John Maynard Keynes

A new book by Paul Davidson entitled JOHN MAYNARD KEYNES will appear shortly. It may not be available in the US for another month, but is already taking orders.

(Palgrave/Macmillan, London and New York, 2007)
ISBN# 978-1-4039-9623-7.

"Davidson convincingly shows how Keynes's radical assault on classical economic theory was undermined by mainstream interpreters anxious to make his doctrines politically acceptable. Keynes's own 'general theory'
compellingly explained; its obfuscators attacked with Davidson's familiar panache." - Lord Skidelsky, author of John Maynard Keynes 1883-1946:
Economist, Philosopher, Statesman

"This could be the best one-volume treatment of Keynes's economics since

Keynes himself. Clear, logical and faithful, Paul Davidson introduces the real Keynes to a new generation. And do we ever need him." - James K. Galbraith, The University of Texas at Austin and Levy Economic Institute

"Global imbalances, the unshackling of capital, the precarious state of modern capitalism: rarely has the world of economics been in more need of the thoughts of John Maynard Keynes. Although Keynes is no longer with us, this book is the next best thing. Paul Davidson is the leading expert on Keynes and Keynesianism and his book should be read by anybody who wants to understand the world as it is, rather than as the economic text books say it ought to be." - Larry Elliott, Economics Editor, The Guardian

"Paul Davidson's fascinating, encyclopaedic book captures the drama of the appearance of the General Theory, illuminates the controversies still surrounding it, and passionately defends Keynes's radical innovations in

economic theory and policy. It is high time for economists and policymakers to go back to Keynes's own words, whose power Davidson so effectively articulates." - President of Peter L. Bernstein, Inc., and author of Against the Gods: The Remarkable Story of Risk and Capital Ideas Evolving

World Economic and Social Survey 2007: Development in an Ageing World

DESA announces the release of the "World Economic and Social Survey 2007: Development in an Ageing World" by the Division of Development Policy and Analysis of the Department of Economic and Social Affairs.

The 2007 Survey analyses the implications of population ageing for social and economic development around the world, while recognizing that it offers both challenges and opportunities. Among the most pressing issues is that arising from the prospect of a smaller labour force having to support an increasingly larger older population. Paralleling increased longevity are the changes in intergenerational relationships that may affect the provision of care and income security for older persons, particularly in developing countries where family transfers play a major role. At the same time, it is also necessary for societies to fully recognize and better harness the productive and social contributions that older persons can make but are in many instances prevented from making.

The Survey argues that the challenges are not insurmountable, but that societies everywhere need to put in place the policies required to confront those challenges effectively and to ensure an adequate standard of living for each of their members, while respecting and promoting the contribution and participation of all.

The WESS 2007 is immediately available in electronic form from the website of the Division of Development Policy and Analysis at:  where the overview of the WESS 2007 is available in Arabic, Chinese, English, French, Russian and Spanish. It can also be purchased on the website as a print publication.

You can also access the full range of DESA's publications relevant to your information needs in the economic and social fields through our on-line catalogue at:

Competition: The Birth of a New Science

by James Case
ISBN: 0809035774
Publisher: Farrar, Straus and Giroux

The Mathematical Theory of Games Sheds Light On A Wide Range of Competitive Activities

What do chess-playing computer programs, biological evolution, competitive sports, gambling, alternative voting systems, public auctions, corporate globalization, and class warfare have in common? All are manifestations of a new paradigm in scientific thinking, which James Case calls “the emerging science of competition.” Drawing in part on the pioneering work of mathematicians such as John von Neumann, John Nash (of A Beautiful Mind fame), and Robert Axelrod, Case explores the common game-theoretical strands that tie these seemingly unrelated fields together, showing how each can be better understood in the shared light of the others. Not since James Gleick’s bestselling book Chaos brought widespread public attention to the new sciences of chaos and complexity has a general-interest science book served such an eye-opening purpose. Competition will appeal to a wide range of readers, from policy wonks and futurologists to former jocks and other ordinary citizens seeking to make sense of a host of novel—and frequently controversial—issues.
Author Description
James Case is a freelance writer and management consultant, with a particular interest in the application of higher mathematics, notably game theory, to economics and various other fields. He holds a PhD in mathematics from the University of Michigan.

National Perspectives on Globalization: A Critical Reader

Paul Bowles, Henry Veltmeyer, Scarlett Cornelissen, Noela Invernizzi and Kwong-leung Tang, (eds.),
International Political Economy Series, Basingstoke:
Palgrave Macmillan, 2007.

I. Introduction: by Paul Bowles and Henry Veltmeyer

II. Financialization and Barbarism: A Perspective from Brazil by Leda
Maria Paulinin and Francisco de Oliveira

III. Subordinate Economic Integration Through the Labour-Export Model: A
Perspective from Mexico by James Cypher and Raul Delgado Wise

IV. From Sino-West to Globalization: A Perspective from China by Yu Keping

V. Deflationary Neoliberalism: A Perspective from India by Utsa Patnaik

VI. Neoliberalism and Predatory Capitalism : A Perspective from Indonesia
by Vedi Renandi Hadiz

VII. The Struggle for Resource Control in a Petro-State: A Perspective
from Nigeria by Cyril Obi

VIII. Global Competitive Challenges and the Paradoxes of a Balancing
State: A Perspective from South Africa by Mzukisi Qobo

IX. A New Challenge for National Civic Integration: A Perspective from
Russia by Alla Glinchikova

X. ‘Japanization’, ‘Asianization of the West’ and ‘Creolization’: A
Perspective from Japan by Harumi Befu

XI. Economic Liberalism and the ‘Outward Alliance’ of Big Companies,
Finance and the State: A Perspective from the UK by Robert Wade

XII. Globalization Means U.S. Leadership: A Perspective from the United
States by William Tabb

XIII. A Two-Edged Sword: A Perspective from Indigenous Peoples by Makere

XIV. The Lexicon of Globalization: Comparative National Conclusions by
Paul Bowles and Henry Veltmeyer

Regional Perspectives on Globalization: A Critical Reader

Paul Bowles, Henry Veltmeyer, Scarlett Cornelissen, Noela Invernizzi and Kwong-leung Tang, (eds.),
International Political Economy Series, Basingstoke:
Palgrave Macmillan, 2007.

Regional Perspectives on Globalization: A Critical Reader

I. Introduction: by Paul Bowles and Henry Veltmeyer

II. A Rhetorical Weapon?: A Perspective from North America by Eric Helleiner

III. A Neoliberal Project: A Perspective from Central America and the
Caribbean by Wim Dierckxsens and Carlos Aguilar

IV. The Crisis of Neoliberal Globalisation: A Perspective from South
America by Paulo Fagundes Vizentini

V. Negotiating the Limits of the Possible: A Perspective from Western
Europe by Andreas Antoniades

VI. Globalization in Disguise: A Perspective from Central Europe by Jacek

VII. Cultural Encounters of the Uneven Kind: A Perspective from the Arab
World by Galal Amin

VIII. A Force for Integration or Marginalisation?: A Perspective from
West Africa by Amadu Sesay and Kehinde Olayode

IX. The Contradictions between Globalisation and Development: A
Perspective from Southern Africa by Lisa Thompson

X. Super-Imperialism: A Perspective from East Africa by Mary Kinyanjui
and Felix Kiruthu

XI. Enforced Globalization and the Neoliberal Path to Development: A
Perspective from South Asia by Nasreen Khundker

XII A Rollercoaster Ride: A Perspective from Southeast Asia by Walden Bello

XIII From Benign Force to Contested Terrain: A Perspective from East Asia
by Kwong-lueng Tang

XIV The Lexicon of Globalization: Comparative Regional Conclusions by
Paul Bowles and Henry Veltmeyer


Heterodox Graduate Program and PhD Scholarships

Allocation De Recherche Du Ministere de L'Enseignement Superieur Et De La Recherche

L’Université Lille 1 offre, dans le cadre du Collège Doctoral Européen, une allocation de recherche pour une thèse
au Clersé (UMR-8019 CNRS) à partir d’Octobre 2007. Sujet de thèse proposé : Les politiques de prix des firmes et leur intégration dans les modèles post-keynésiens de croissance.

Durée : 3 ans
Rémunération : environ 1250 € net

Research Grant from the French Ministry of Higher Education and Research

The University of Lille 1 is offering, as part of the European Doctoral College, a research grant for a thesis carried out at Clersé (UMR-8019 CNRS) starting in October 2007. Proposed thesis subject: Firms’ pricing policies and their integration in post-Keynesian growth models

Duration: 3 years
Remuneration: approximately 1250 € net

Centre for Innovation & Structural Change (CISC)

National University of Ireland, Galway
Doctoral Research Fellowship

Applications are invited from students interested in studying for a PhD in the area of technology diffusion, organisational learning and knowledge transfer.

Teagasc is the Irish Agriculture and Food Development Authority, a state-funded national body providing integrated research, advisory and training services to the agriculture and food industry and rural communities. Teagasc’s programmes make use of monitor farms as a way of implementing and developing Teagasc research. Monitor farmers receive a high level of advisory contact and close monitoring of progress in implementing the newest practices from research and undertake the recording of production and performance figures,

This project aims to examine the diffusion of technology and knowledge from Teagasc’s monitor farms to the wider farming community. The methodology developed for assessing such transfers can be used in future evaluations of Teagasc’s monitor farms, and may be transferable to the evaluation of other extension activities within Teagasc.

The project will develop understanding of the types of technology and knowledge that are diffused to the wider farming community, the mechanisms through which such technology and knowledge are diffused and the obstacles and barriers to the adoption of this technology and knowledge on the part of farmers and other stakeholders.

Students should have completed a Master’s degree in a related area such as management, economics, commerce, rural development, sociology or social policy.

The successful student will be funded by the Teagasc Walsh Fellowship programme, and jointly supervised by CISC and the Teagasc Rural Economy Research Centre (RERC). The student will be based in the RERC in Athenry, Co. Galway.

The Walsh Fellowship is for €21,000 per annum (inclusive of fees), payable for a maximum of 3 years.

Informal enquiries about this position may be made to
Dr Rachel Hilliard, CISC, NUI Galway 091 492932
Kevin Heanue, RERC, Teagasc 091 845 834

Application Procedure:

Applicants should submit a full CV either by post or email to:
Angela Sice, Development Officer, CISC, National University of Ireland, Galway, Galway, Ireland. email:

Closing date for receipt of applications is Monday 16 July, 2007.


Heterodox Websites

DESA- Policy Notes

The Department of Economic and Social Affairs (DESA) has just launched a new website presenting its series of Policy Notes to assist policy-makers and policy-shapers at the country level to prepare National Development Strategies, as called for by the Millennium Summit. The notes present alternatives to standard policy solutions to achieve the internationally agreed development goals.

"Unlike the policy solutions that have prevailed over the last twenty years", says Mr. Jose Antonio Ocampo, Under-Secretary General for Economic and Social Affairs, "the policy notes do not prescribe any single course of action. They are intended to help countries expand their policy space - their room for maneuver in formulating and integrating national economic, social, and environmental policies."

The six notes, commissioned by DESA, cover major areas relevant to national development strategies: macroeconomic and growth policy, trade policy, investment and technology policy, financing development, social policy, and state-owned enterprise reform. The notes have been prepared by experts in these fields, and draw on the experience of the United Nations in the economic and social areas, complemented by outside knowledge from academics such as Nobel laureate Joseph Stiglitz. The preparation of the notes received generous funding in part from UNDP as well as substantive inputs from UNDP colleagues.

The policy notes are available online for free download at:

New Post Keynesian Study Group (UK) Web Site 

PKSG was founded in 1988 by Philip Arestis and Victoria Chick with the support of the UK Economic and Social Research Council (ESRC). The purpose of the Study Group is to encourage collaboration among scholars and students of Post Keynesian economics, defined broadly as a theoretical approach that draws upon the work of Keynes, Kalecki, Joan Robinson, Kaldor and Sraffa. This approach distinguishes itself by its insistence that history, social structure and institutional practice be embodied in its theory and reflected in its policy recommendations. These aims broadly correspond to those of Cambridge Journal of Economics, Journal of Post Keynesian Economics, and Review of Political Economy.

PKSG produced a newsletter for three years from 1995–97 (issues 1–4 with an historical introduction by Fred Lee [large file: 8Mb], issues 5–7 [large file: 6.5Mb]), which included a wide variety of news, discussion, review articles and abstracts of papers and conferences. The progress of technology has now made this website feasible as a similar platform for the activities of the Group.


For Your Information

Foreign Policy in Focus

The latest Strategic Dialogue from Foreign Policy In Focus (FPIF) asks: Is microcredit the solution to global poverty?        

In Microcredit: False Hopes and Real Possibilities, Robert Pollin maintains that context is everything. In a Debate on Microcredit, Sam Daley-Harris argues for improving microfinance so that it lives up to its potential while Pollin counters that microfinance must be embedded in a larger development program.

See for this debate and other articles of relevance. 

To regularly receive these updates, subscribe to FPIF's free foreign policy e-zine, World Beat at

The Heterodox Economist

Eric Nilsson has a new blog titled "The Heterodox Economist." It is found at

Publishing as Prostitution? Choosing Between One's Own Ideas and Academic Failure

University of Zurich - Institute for Empirical Research in Economics (IEW); CESifo (Center for Economic Studies and Ifo Institute for Economic Research)
June 2002

Zurich IEER Working Paper No. 117

Survival in academia depends on publications in refereed journals. Authors only get their papers accepted if they intellectually prostitute themselves by slavishly following the demands made by anonymous referees without property rights on the journals they advise. Intellectual prostitution is neither beneficial to suppliers nor consumers. But it is avoidable. The editor (with property rights on the journal) should make the basic decision of whether a paper is worth publishing or not. The referees only give suggestions on how to improve the paper. The author may disregard this advice. This reduces intellectual prostitution and produces more original publications.