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Issue 67: August  28, 2008

From the Editor

I often get comments saying that the term ‘heterodox economics’ is very unclear; and I have also gotten comments saying that heterodox economists should really stop trying to be so heterodox and should become more mainstream. The curious thing about those statements is that in 1991 Charles Barone wrote a very interesting article (click here) about the teaching of heterodox economics within the undergraduate major in economics at Dickinson College—and his definition of heterodox economics was very clear and pretty much the same as it is today. And no one made the comment at the time that Barone and his heterodox colleagues should be being more mainstream-like and hence should not be doing this. Perhaps the statements is really an attempt to deflect heterodox economists from the fact that heterodox economics is a well-defined term and that it is emerging as a well-established alternative to mainstream economics.

On a different topic, in the FYI section there is an entry on the Milton Friedman Institute. The controversy that has arisen over its proposed establishment at the University of Chicago poses a number of hard questions to heterodox economists—one being if in opposing the establishment of the Institute is a heterodox economist suppressing free inquiry and acting anti-pluralistic. Answers to this question and others are not so obvious once the social-intellectual context vis-à-vis the academy, academic diversity, and the economics profession are taken into account. I do urge heterodox economists to become aware of the issues being raise, debate them with other heterodox (and mainstream) economists, and if so moved become involved in the controversy in the manner that you think is best.

Finally, a few short notes. First, I received the following noted from the Japan Society of Political Economy concerning its 56th Annual Conference:

The JSPE -- the Japan Society of Political Economy -- previously submitted the Call for Papers for our 56th Annual Conference, 2008, held at Kyushu University, Japan. However, we showed a wrong e-mail address for the application on our JSPE website in error. There is probability that some applications did not reach us. So, we would like to ask the applicants who sent the proposal but not received any contact from us to send their applications again at the following correct e-mail address:

We are very sorry for this inconvenience, but we look forward to seeing you at our 56th Annual Conference in beautiful Kyushu Island, Japan. Thank you very much for you in advance.

Prof. Shinjiro HAGIWARA
Chairman of the JSPE Committee for International Communication and Exchange

Second, registration for the ASSA opens on September 4th. Register early!

Last, the job market season is upon us, so if you are advertising for positions please send your adverts to me so that I can put them in the Newsletter.

Fred Lee

In this issue:
  Call for Papers
  - The International Journal of Pluralism and Economics Education
- Third History of Recent Economics Conference (HISRECO 2009)
- The Association for Institutional Thought’s (AFIT)
- "Macroeconomic Policies on Shaky Foundations – Whither Mainstream Economics?"
- 4th South Asia Conference on Trade and Development 2008
  Conferences, Seminars and Lectures
- AFEE Program
- Grupo de Estudios de Política Económica (GEPEC)
- A Social Research Conference at The New School
- SCEME/PKSG Workshop
Job Postings for Heterodox Economists
  - Queen’s University, Kingston, ON
- The University of Sydney
- National University of Ireland, Galway
- Franklin & Marshall College
- University of Washington Tacoma
  Heterodox Conference Papers and Reports and Articles
  - The Works of Pierangelo Garegnani
- "Reflections on Theory, Method, and Practice in Comparative and International Education" by Steven Klees
- Macroeconomic Policy Institute Papers
- EFE Papers
- The Limited Promise of Agricultural Trade Liberalization
Heterodox Journals and Newsletters
  - On The Horizon
- Review of Social Economy
- Marshall Studies Bulletin (Volume 10, 2008)
- International Review of Applied Economics
- Associative Economics Bulletin
- OIKOS: Revista de Economia Heterodoxa
- Investigacion Economica
- Levy News
- The European Journal of the History of Economic Thought
- Rethinking Marxism
- Cuadernos De Relaciones Laborales
  Heterodox Books and Book Series
  - Integrity and Agreement: Economics When Principles Also Matter
- Thomas Frank | Follow This Dime
- Solidarity Economy
- Mass Appraisal Methods
- The Keynesian Multiplier
- The Structure of Post-Keynesian Economics
- The Generation of Business Fluctuations
- Microeconomics in Context and Macroeconomics in Context
- Mindful Economics
- International Political Economy: Contrasting World Views
- Edward Elgar Books
- The Genesis of Innovation
- Powerful Finance and Innovation Trends in a High-Risk Economy
- L’innovation pour le développement. Enjeux globaux et opportunités locales
- L'économie Russe depuis 1990
- La Russie Européenne
- La gouvernance de l’innovation
  Heterodox Book Reviews
  - The Economics of the Great Depression
- The Creation and Destruction of Social Capital
- Keynes and His Battles
The HEN-IRE-FPH Project
  - The HEN-IRE-FPH Project for Developing Heterodox Economics and Rethinking the Economy Through Debate and Dialogue
Heterodox Graduate Program and PhD Scholarships
  - King's College, London
Heterodox Websites
  - Brazilian Keynesian Association
- Palgrave Econolog
- The Economics of Social Ownership
- Research Network on Innovation
  For Your Information
  - Solidarity Economy: A Short Description
- “Is There an Oil Shortage?"
- William R. Waters Research Grant
- EEA announces the Koford Prize
- URPE Reality Tour: Chinatown
- Economic Policy Institute Cocktail Reception
- Book Recommendations
- Europa Riformista
- Center for Global Justice
- Milton Friedman Institute

Call for Papers

The International Journal of Pluralism and Economics Education

Inderscience announces publication of a new journal in economic education, The International Journal of Pluralism and Economics Education. The IJPEE will publish four issues a year, the first in January 2009
and the remaining issues March June, September and November. The IJPEE welcomes and encourages manuscripts from all members of the heterodox and pluralist community. The Journal will publish on all
aspects of pluralism and economics education with special attention, but not limited, to the following topics:
- Defining pluralism
- What is pluralism and how can we incorporate it into the classroom
- The rhetoric of pluralism: communicating within and across disciplines
- Teaching the theory of the firm from a pluralist perspective
- Teaching pluralism in developing countries
- What can pluralists learn from Adam Smith and other classical economists?
- Incorporating pluralism into online courses
- Using pluralism to construct a framework for solving global problems
- Are there limits to extending pluralism?
- Pluralism and the individual
- Pluralism as a central component of honours courses
- Pluralism at the community college
- Encouraging pluralism at the high school level
- Necessary mathematics for pluralism
- Reaching out to other social sciences
- Teaching ecology from a pluralist perspective
- Understanding the financial crisis from a pluralist perspective
- Pluralism and system dynamics

Interested authors should consult the webpage at for specific requirements. Manuscripts should be e-mailed to:

Jack Reardon
Department of Management and Economics
School of Business
Hamline University
St. Paul, Minnesota 55104,
Third History of Recent Economics Conference (HISRECO 2009)

11-13 June 2009, University of Antwerp, Belgium

The Second World War and its aftermath marked a major stage in the establishment of economics as one of the dominant discourses in contemporary societies. The spread of economic ideas into many areas of
social life invites mutually profitable engagements between historians of economics, economists, other social scientists and historians of science. It also presents great potential for those working on the
history of economics to broaden their audience beyond those that they have traditionally addressed.

The past decade has been witness to a surging interest in the history of economics post-WWII. This new scholarship has made good use of newly available source-materials, rehearsed new methodologies for
the study of the past and looked across disciplinary boundaries for insights. The first two HISRECO conferences offered wide-ranging samples of this work, with contributions focusing on topics as varied as
the origins of recent schools and subfields, the impact of new techniques, and the intellectual trajectories of pioneering economists. For the third consecutive year, we are inviting submissions of papers on the
post-WWII era. Papers that deal with the period leading up to this may be considered, but only if they shed significant light on subsequent developments. Though all proposals will be carefully considered, our
preference is for papers that place post-war economics in a broader context, whether this is parallel developments in other social sciences, politics, culture or economic challenges. To this end, we solicit
proposals from scholars trained in history, economics, sociology, or any field that may yield insights. Proposals from doctoral students and junior researchers are actively encouraged.

If you are interested in participating, please submit a proposal containing roughly 500 words and indicating clearly the original contribution of the paper (if you have a draft of the paper, we would be happy to
see that though would appreciate an abstract as well). The deadline for the submission of paper proposals is 30 October 2008.
Notice of acceptance or rejection will be sent by 15 December 2008 and completed papers will be due on 1 April 2009 so that we can provide feedback and then give discussants time to prepare worthwhile

Proposals should be sent electronically to  . For your convenience a standard submission form can be downloaded from the conference website . For further information about the conference please contact Guido Erreygers ( ).

The organising committee consists of Roger Backhouse, Guido Erreygers, Philippe Fontaine and Tiago Mata. Information on previous HISRECO conferences can be found here:

The Association for Institutional Thought’s (AFIT)

The Association for Institutional Thought’s (AFIT) annual meeting will be held April 15-18 in Albuquerque New Mexico. For those unfamiliar with AFIT, the annual meeting provides a relaxed atmosphere to
interact with colleagues, share research, and pursue new ideas. This collegial environment affords an excellent opportunity for those interested in, but less familiar with, Institutional economics to learn more.
Likewise, graduate students can share their work and receive critical and thoughtful feedback from established scholars.
Albuquerque is a delightful city, and for those of us from northern climates, affords an early opportunity to experience spring. While the collegiality, warm weather, and delicious cuisine are reason enough to
attend the conference, this year’s meeting offers an additional incentive: it will be AFIT’s 30th anniversary! Appropriately, we will be hearing from some of our founding members; about their long term
experiences with AFIT, the legacy of Institutional economics, and the viability of its intellectual traditions as we move forward as an association.

The annual meeting and 30th anniversary of AFIT will be held April 15-18, 2009
Albuquerque, New Mexico
Hyatt Regency, Downtown
In conjunction with the Western Social Science Association (WSSA) 51st Annual Conference
Theme for the 2009 Conference: Economics When People Matter
Click here for detailed information.

"Macroeconomic Policies on Shaky Foundations – Whither Mainstream Economics?"

The Research Network Macroeconomics and Macroeconomic Policies organises its 12th conference on ‘Macroeconomic Policies on Shaky Foundations – Whither Mainstream Economics?’, 31 October – 1
November 2008, in Berlin.
Mainstream economics seems to be changing. The homo economicus has repeatedly been called into questions; many macroeconomic models are not based on a market clearing equilibrium any more. How
profound are these changes in mainstream economics? What, if any, is the new orthodoxy in macroeconomics? What are the implications for Post-Keynesian macroeconomics? And how is the relationship
between these developments and macroeconomic policies? The 12th conference of the Research Network will address these developments and questions.
Invited papers by: Bruno Amable (Diversity of capitalism and macroeconomic policy), Philip Arestis (New Consensus macroeconomics and Keynesian critique), David Colander (How did macro theory get so
far off track, and what can heterodox macroeconomists do to get it back on track?), Sheila Dow (Variety of opinion in mainstream economics: monetary policy-making by committee), Charles Goodhart (The
continuing muddles of monetary theory: a steadfast refusal to face facts), John King (Microfoundations?), Marc Lavoie (Towards a post-Keynesian consensus in macroeconomics: Reconciling the Cambridge
and the Wall Street views), Tom Palley (Macroeconomic policies and the modern mainstream in economics), Hans-Michael Trautwein (The new neoclassical synthesis: what renaissance?), and Gennaro Zezza
(Fiscal policy in a model of the U.S. economy).
The detailed conference programme will be online at the conference website in September:
Registration form:

4th South Asia Conference on Trade and Development 2008

The Centre for Trade and Development (Centad), New Delhi will hold its 4th South Asia Conference on Trade and Development in December, 2008. Centad is an independent, not-for-profit organisation that conducts policy research and advocacy on issues around trade and development, with a focus on South Asia.
The South Asia Conference on Trade and Development is an annual conference organised by Centad that brings together representatives of diverse interest groups from all South Asian countries for analyzing the implications of contemporary developments in different international economic and developmental institutions including the WTO from the perspective of South Asian interests. Eminent academicians on trade and development issues as well as policy makers, trade negotiators, chambers of commerce, research think-tanks and civil society organisations from the South Asian countries take part in this conference. The conference facilitates an exchange of views from the participants regarding the prospects and concerns that the different countries from South Asia have, with the objective of developing a shared understanding of the developmental interests and concerns of the countries from South Asia with a focus on the impact of trade and development regimes on vulnerable groups in South Asia.
Centad invites academic and policy researchers, government officials, doctoral students, trade and business observers and any other interested person from diverse disciplines like economics, developmental studies, social sciences and law to submit completed papers on the following themes from the perspective of a South Asian country or the South Asian region.

For details, please click the link below: 
The last date for submission of completed papers is September 30, 2008. The soft copy of the paper can be mailed at  with “Call for Papers” as subject line.


URPE at the Eastern Economics Association Annual Conference February 27-March 1, 2009 New York City

URPE members are invited to submit papers and organize entire sessions for this year?s Eastern Economics Association Annual Conference to be held in New York City the last weekend in February, 2009 (see for further logistic details, etc.).
In its second year, we hope to make URPE @EEA especially significant for junior faculty and advanced graduate student members of URPE. It is an opportunity to get experience in session-organizing and becoming connected professionally as well as an opportunity to present very interesting research in heterodox theory and empirics.
The DEADLINE for paper and panel proposals is October 31, 2008.
Please make all inquiries and submissions care of Scott Carter at the URPE@EEA email address:
RULES for submissions to URPE@EEA:
1. All presenters must be dues-paying URPE members by the time of the deadline (October 31, 2008) 2. URPE membership is not a requirement for discussants 3. Eastern Economics Association membership criteria apply (see  for further details for EEA criteria)


Conferences, Seminars and Lectures

AFEE Program

The AFEE program for the ASSA meetings in San Francisco is now posted on the AFEE web site. You can find it at:

Grupo de Estudios de Política Económica (GEPEC)

Te invitamos a este espacio de discusión sobre Política y Coyuntura Macroeconómica, pluralista y horizontal.
Los Grupos de Estudio e Investigación están articulados en 4 grandes ejes. Podés mandarnos un mail a o venir directamente a las próximas reuniones. El punto de encuentro es siempre la puerta del Instituto de Investigaciones Económicas (enfrente del aula 106).

Próximas reuniones:
- Distribución del Ingreso y Situación Laboral: ¡Escribinos para enterarte!
- Recursos Naturales y Energía: lunes 11/8, 17:00hs.
- Coyuntura y Políticas Fiscales, Monetarias y Cambiarias: viernes 8/8, 18:30hs.
- Producción Industrial, Infraestructura y Transporte: ¡Escribinos para enterarte!

Escribinos a  o entrá a  para más info.
Sumate. Opiná. Participá. Transformá.

¿Qué es el GEPEC? La discusión de teorías alternativas a la ortodoxia liberal (que venimos desarrollando desde la Escuelita de Economía Política, junto a SOS, Germen y otros estudiantes independientes) no es la única deuda pendiente en cuanto al contenido de las carreras de nuestra facultad. Tampoco se analiza el discurso económico (bache que intentamos suplir organizando el taller de Periodismo Económico) ni la Política Económica.

Respecto a esto último, en la facultad se estudian sólo modelos en los cuales un “policy maker” lleva a cabo una determinada política económica. Los objetivos deseables que esa política debería tener son indicados por los manuales de moda, abstraidos de los intereses que los hacedores de política económica puedan tener y de la influencia de los grupos de presión. Es decir, completamente fuera de contexto y sin considerar el sistema económico en el cual esa política económica se aplica. Ejemplo de esto es cómo la inflación, el desempleo y los salarios (entre otros) son estudiados como fenómenos que nada tienen que ver con pujas de diferentes grupos sociales y económicos. Por otra parte, en ninguna materia de la carrera se discute coyuntura macroeconómica: el lugar para la política económica siempre queda relegado a las pocas materias de historia de la carrera.

Con el mismo espíritu crítico de siempre y apuntando a construir alternativas, desde el BASE| este año lanzamos los GRUPOS DE ESTUDIOS DE POLÍTICA ECONÓMICA (GEPEC), como espacio de discusión sobre Política y Coyuntura Macroeconómica.

A Social Research Conference at The New School

Free Inquiry at Risk: Universities in Dangerous Times
Wednesday-Friday, October 29-31, 2008 

Rapid globalization, international collaborations, massification, corporate partnerships, increasing number of franchises, regime change, and other conditions of duress are reshaping universities around the world. What are the benefits and what are the risks to academic freedom and free inquiry as universities navigate these trends? This conference will look backward at the role of academic freedom and free inquiry in research universities and forward to what the future may have in store.
This conference will be part of our commemoration of the 75th anniversary of the University in Exile, which was created by Alvin Johnson, the first president of The New School, as a haven for the scholars he rescued from the horrors of Hitler. The University in Exile became the Graduate Faculty of The New School for Social Research and gave birth to our journal, Social Research.
This conference is made possible with generous support from the Ford Foundation, Carnegie Corporation of New York, and Eugene Lang College, The New School for Liberal Arts.


This is a reminder of the joint workshop on Methodology After Keynes in Stirling on 20 September, to be led by Anna Carabelli. The programme, registration form and additional information are available at
Registrations should be sent in by 5 September. Hope to see you there.

Job Postings for Heterodox Economists

Queen’s University, Kingston, ON

Department of Global Development Studies

The Department of Global Development Studies invites applications by outstanding scholars for a faculty appointment at the rank of Assistant or Associate Professor under the Queen's National Scholars (QNS) Program ( There are no regional or thematic preferences for the appointment, but applicants are encouraged to demonstrate how they would complement the teaching and research foci of the department.

The main selection criterion is academic excellence. Preference will be given to scholars in early- or mid-career stages that have shown evidence of outstanding achievements in research and scholarship, and of achieved or potential excellence in teaching. The University invites applications from all qualified individuals; however Canadian citizens and Permanent Residents will be given priority. Queen’s is committed to employment equity and diversity in the workplace and welcomes applications from women, visible minorities, aboriginal people, persons with disabilities, and persons of any sexual orientation or gender identity. The academic staff at Queen's University are governed by a Collective Agreement between the Queen's University Faculty Association (QUFA) and the University which is posted at .

Complete applications must include: a curriculum vitae; a statement of current and prospective research interests; a statement about teaching experience or potential; and three letters of reference. Completed applications and all letters of reference should be sent to Dr. David McDonald, Director, Department of Global Development Studies, Queen’s University, Kingston, ON, Canada, K7L 3N6 (Tel: (613) 533 3301; Fax: (613) 533 2986) by October 10, 2008.

The University of Sydney

Lecturer in Political Economy
School of Social and Political Sciences
Faculty of Arts
Reference No. 135715

The Faculty of Arts, one of the top fifteen Arts faculties in the world, prides itself on a longstanding tradition of intellectual rigor and a vibrant research and teaching environment. We offer the most comprehensive and diverse range of humanities and social sciences in the Asia Pacific and it is in this spirit that we have created our newest school, the School of Social and Political Sciences (SSPS).

SSPS is experiencing exciting growth and change during its first year of existence; attracting high-calibre students to innovative social science courses as we build our capability and employ new talent to drive the School and Faculty forward. SSPS’s Department of Political Economy is devoted to fostering a critical perspective on the content and evolution of economic theories such as Marxian, classical, neoclassical, Keynesian, post-Keynesian, institutional and feminist economics. There is also a strong focus on analysis of the social foundations of economic activity, globalisation, economic development, class, gender and economic policy.

We are currently seeking an experienced Lecturer in Political Economy to join our groundbreaking School and contribute high-quality teaching and research abilities to our dynamic environment. Along with an expertise in economic theory and policy, you will bring with you an established track record of high-quality research publications and clear potential for future international and national journal publications.

You will be a highly-valued asset to our rapidly growing institution; providing effective teaching, contributing to curriculum development and seeking new links to other social sciences. This role will require you to hold a PhD or equivalent in Political Economy, Economics or a closely related field, and ideally administrative skills or prior experience in thesis or dissertation supervision.

This is an unprecedented juncture in our development; today’s ideas become tomorrow’s actions and academics come together to foster interdepartmental initiatives in teaching and research across the full spectrum of social sciences. The School combines the following departments: Anthropology; Government and International Relations; Peace and Conflict Studies; Political Economy; and Sociology and Social Policy.

This position is full-time continuing, subject to the completion of a satisfactory probation period for new appointees. Membership of a University approved superannuation scheme is a condition of employment for new appointees.
Remuneration package: $86,731 - $102,993 p.a. (which includes a base salary Lecturer Level B $73,289 - $87,030 p.a., leave loading and up to 17% employer’s contribution to superannuation).
For more information or to apply online, please visit 
Specific enquiries about the role can be directed to Professor Frank Stilwell on (+61 2) 9351 3063 or via email:
Closing Date: 12 September 2008

National University of Ireland, Galway

Lecturer (Above/Below the Bar) in Economics
(Rural Development/Environmental & Natural Resource Economics)

The Department of Economics together with the Irish Centre for Rural Transformation and Sustainability (ICERTS), a multidisciplinary research centre, has built up a very significant programme of research, research training and teaching in Rural Development. The Department now wishes to appoint an Economist with the necessary research and teaching skills to play a leading role in enhancing the capacity of the Department ( ) and ICERTS ( ) in this area.

Candidates should hold a PhD in economics, agricultural economics or a related area and should have strong modelling and econometric skills in rural development, environment and agriculture. They should have a strong research record and demonstrate potential to lead research teams, attract research funding and deliver research programmes.

Applicants will be considered as applicants at both levels unless it is specifically stated that the applicant wishes to be considered for appointment at one level only.

The successful candidate will contribute to the teaching programmes of the Department, especially in the different areas of rural development including agriculture, rural enterprise, environment and natural resource economics. He/she will contribute to the research activity of the Department through linking into existing projects in ICERTS and developing new lines of research by attracting research funding in specific areas of rural development. The successful candidate will play a significant role in developing the Department’s PhD programme in attracting and supervising students.

Closing date for receipt of applications is 5pm Friday, 5th September 2008

Salary: €64,663 x 4 = €85,562 p.a. (Above the Bar)
Salary: €41,667x 10 = €59,098 p.a. (Below the Bar)

Further information is available from the HR Office:;
Email:; Tel. 353 91 492151; Fax 353 91 494523

Candidates should submit six hard copies of their application (i.e. cv, application form, covering letter), with the names and addresses of at least three and not more than five referees to:
The Human Resources Office,
National University of Ireland, Galway,
Please note that applications by email or fax will be rejected.
National University of Ireland, Galway is an equal opportunities employer.

Franklin & Marshall College

Visiting Instructor or Visiting Assistant Professor of Economics
Franklin & Marshall College
Location: Lancaster, PA
Faculty - Liberal Arts - Economics
Posted: 07/31/2008
Application Due: 10/13/2008
Type: Full Time
D - Microeconomics
E - Macroeconomics and Monetary Economics

The Department of Economics at Franklin & Marshall College invites applications for a 1.5-year position at the Visiting Instructor or Visiting Assistant Professor level, beginning Spring 2009. Teaching experience required. Teaching load is 3/2 and may include participation in the College's general education program. The teaching load will likely include two sections of introductory economics and an intermediate micro, macro or elective course chosen in consultation with the Department. We welcome applications from candidates with specializations in any field of economics. Salary and benefits are competitive.

Candidates should send a letter of application, curriculum vitae, graduate transcript, three letters of recommendation, a teaching statement, a research statement, and teaching evaluations to Tami Lantz, Department Coordinator, Department of Economics, Franklin & Marshall College, P.O. Box 3003, Lancaster, PA 17604-3003. Applications may be submitted electronically by e-mail to Please reference job #1 in your correspondence. Review of applications will begin immediately. Deadline for applications is Oct. 13, 2008

Franklin & Marshall College is a highly selective liberal arts college with a demonstrated commitment to cultural pluralism. EOE
Application Information

Apply for this Position through My HigherEdJobs
Contact: Tami Lantz, Academic Coordinator
Economics Department
Franklin & Marshall College
Phone: (717)291-3916
Fax: (717) 291-4369
Online App. Form:
Email Address:

University of Washington Tacoma

Assistant Professor in Political Economy (Europe)
University of Washington Tacoma
Location: Tacoma, WA
Category: Faculty - Liberal Arts - Economics
Posted: 08/25/2008
Application Due: Open Until Filled
Type: Full Time
Interdisciplinary Arts & Sciences (IAS) at the University of Washington Tacoma (UWT) invites applications for a position in Economics/Political Economy at the rank of Assistant Professor. IAS offers a range of interdisciplinary programs, one of which is in Political Economy. The successful candidate will be broadly trained with a range of interests, and will show excellent potential as both a teacher and a researcher. The position begins September 16, 2009, and requires a Ph.D. in economics or a related field. The ideal candidate would offer courses in economic history, Western Europe, and other courses for majors in political economy and other interdisciplinary programs.

One of three campuses of the University of Washington, UWT is a metropolitan university that primarily offers majors to students of a wide variety of ages and backgrounds in the South Puget Sound region. The campus is located in both new and historic facilities in downtown Tacoma. For information about UWT, see our website at

To apply, submit electronically to  a letter delineating your interests and qualifications, a description of research interests and teaching philosophy, a curriculum vitae, an article length writing sample, evidence of teaching effectiveness along with a class syllabus, and three letters of reference. Applications are due December 1, 2008. For further information on the position, email Katie Baird at

The University of Washington is an affirmative action, equal opportunity employer, and IAS has a strong commitment to diversity. The University is building a culturally diverse faculty and staff and strongly encourages applications from women, minorities, individuals with disabilities and covered veterans. University of Washington Tacoma faculty engage in teaching, research and service in an interdisciplinary context and are expected to participate in the core curriculum. This position is contingent upon available funding.
Application Information
Contact: University of Washington Tacoma
Online App. Form: 
Email Address:


Heterodox Conference Papers and Reports and Articles

The Works of Pierangelo Garegnani

Pagina de Pierangelo Garegnani con algunos de sus papers desde su Tesis de Doctorado hasta hoy—the works of Garegnani from his dissertation to today can be accessed at:

"Reflections on Theory, Method, and Practice in Comparative and International Education" by Steven Klees

Summary: This was a Presidential Address to the U.S. Comparative and International Education Society and focuses on a critique of neoclassical economics, regression analysis, and international education policy. It also considers alternative theories, methods, and practices. The paper, reactions by scholars to it, and a response by the author can be accessed at: 

Macroeconomic Policy Institute Papers

Thomas Dallery, Till van Treeck: Conflicting claims and equilibrium adjustment processes in a stock-flow consistent model, IMK Working Paper, 9/2008, Düsseldorf: Macroeconomic Policy Institute, Hans Boeckler Foundation:

Eckhard Hein, Till van Treeck: ‘Financialisation’ in Post-Keynesian models of distribution and growth – a systematic review, IMK Working Paper, 10/2008, Düsseldorf: Macroeconomic Policy Institute, Hans Boeckler Foundation:

EFE Papers

This is to bring to your attention that there are new items of interest posted on the EFE site. 

1. There are several new articles posted under the “What’s New” section of the site.  They include:

NREG Two Years On: Where Do We Go from Here? by Santosh Mehrotra

Keynes’s Approach to Full Employment: Aggregate or Targeted Demand? by Pavlina Tcherneva

NREGA—Opportunities and Challenges by Richard Mahapatra, Neha Sakhuja, Sandip Das, and Supriya Singh for the Natural Resource Management and Livelihood Unit of the Center for Science and Environment of New Delhi

NREGA: A fine balance and NREGA hits buses to Mumbai, both by P. Sainath in the “India Together” newsletter

The Limited Promise of Agricultural Trade Liberalization

by Timothy A. Wise
Working Group Discussion Paper DP19, July 2008
It has become an article of faith in international trade negotiations that farmers in developing countries have much to gain from agricultural trade liberalization. This paper, written as a framework analysis for the recently published report, The Promise and the Perils of Agricultural Trade Liberalization: Lessons from Latin America, assesses the evidence for such claims. It concludes that the promise of agricultural trade liberalization is overstated, while the costs to small-scale farmers in developing countries are often high.
Relying on World Bank data and analyses, United Nations trade data, and other economic modeling carried out to inform the current round of World Trade Organization negotiations, this paper shows that:
- Rich countries are the main beneficiaries of agricultural trade liberalization, gaining markets in both the global North and South.
- Only a limited number of developing countries – for example, Argentina and Brazil – can compete effectively in global markets.
- Most developing countries are left out of the export boom but their small-scale farmers suffer the negative effects of rising imports, as tariffs and farm supports are removed.
- Farm prices do not remain high for long after liberalization, as supplies, fed by rising yields and new land under cultivation, catch up to rising demand.
- While the current commodity boom, fueled in part by the demand for agro-fuels, may keep prices high for a few years, it is unlikely to fundamentally alter the structure of global agriculture and the long-term trends toward lower prices.
The paper, along with other background papers for the report, is available at: 

The full report, in English with separate executive summaries in Spanish and Portuguese, is available at:


Heterodox Journals and Newsletters

On The Horizon

Forthcoming Special Issue
Publishing, Refereeing, Rankings, and the Future of Heterodox Economics
Edited by Wolfram Elsner and Frederic S. Lee

Review of Social Economy

New iFirst articles in Review of Social Economy, are now available online at informaworld at

The new articles are:

Karl Polanyi's and Karl William Kapp's Substantive Economics: Important Insights from the Kapp–Polanyi Correspondence
Author: Sebastian Berger

Trade, People and Places: A Social Economic–Geographic Approach to Comparative Institutional Advantage
Authors: Geoffrey Schneider; Paul Susman

The Long-Term Impact of Labor Market Interruptions: How Crucial is Timing?
Authors: Carole A. Green; Marianne A. Ferber

Social vs. Military Spending: How the Escalating Pentagon Budget Crowds out Public Infrastructure and Aggravates Natural Disasters—the Case of Hurricane Katrina
Author: Ismael Hossein-zadeh

A Critical Evaluation of Romantic Depictions of the Informal Economy
Authors: Colin C. Williams; John Round

Competition and Participation in Religious Markets: Evidence from Victorian Scotland
Authors: Robert I. Mochrie; John W. Sawkins; Alexander Naumov

Workers on the Border between Employment and Self-employment*
Authors: Ulrike Muehlberger; Silvia Pasqua

Marshall Studies Bulletin (Volume 10, 2008)

Table of Contents
- Simon Cook (ed.), Marshall's early historical notes.
- Tamotsu Nishizawa and Katia Caldari (eds), Some aspects of modern industrial life.
- Andrés Vazquez and Francisco Pérez (eds) Alfred Marshall and the German translation of his Principles. Some unpublished letters.

Book Reviews:
- Tiziano Raffaelli, Giacomo Becattini and Marco Dardi (eds): The Elgar Companion to Alfred Marshall, by Paola Tubaro

International Review of Applied Economics

Volume 22 Issue 5  is now available online at informaworld at

This new issue contains the following articles:

The NAIRU reconsidered: why labour market deregulation may raise unemployment, Pages 527 - 544
Authors: Servaas Storm; C. W. M. Naastepad

Temporary work and neoliberal government policy: evidence from British Columbia, Canada, Pages 545 - 563
Authors: Fiona MacPhail; Paul Bowles

Patterns of technical change: a geometrical analysis using the wage–profit rate schedule, Pages 565 - 583
Author: Fabrizio Ferretti

Evaluation of investment subsidies: when is deadweight zero?, Pages 585 - 600
Authors: Anu Tokila; Mika Haapanen; Jari Ritsilä

Sacrifice ratio dispersion within the Euro Zone: what can be learned about implementing a single monetary policy?, Pages 601 - 621
Authors: Jean-Jacques Durand; Marilyne Huchet-Bourdon; Julien Licheron

The enlargement of the euro area: differences in relative inflation, Pages 623 - 638
Author: Lukasz W. Rawdanowicz

Testing for profitability and contestability in banking: evidence from Austria, Pages 639 - 653
Author: Franz R. Hahn

Associative Economics Bulletin

Rethinking The Company - Associative Economics Bulletin - August 2008

The Associative Economics Bulletin consists of news and views on associative economics, including short extracts from Associative Economics Monthly (available electronically for 1GBP an issue at
or in a hard copy format - tel (UK) 01227 738207). To unsubscribe from this list, reply or send an email to with 'bulletin unsubscribe' in the subject line.

1. The Colours of Money October 2008
2. Course at The London School of Economics Oct-Dec 2008
3. Rethinking the Company - Associative Economics Monthly Editorial
August 2008
4. Ethics in Finance: Essay Prize

Click here for detailed information.

OIKOS: Revista de Economia Heterodoxa 

A revista OIKOS oferece espaço para um diálogo transdisciplinar sobre questões sócio-econômicas. Recebe contribuições em forma de artigos, ensaios, resenhas, fotografias, imagens, poemas. Busca o reencontro entre a Universidade e a Sociedade.

La revista OIKOS ofrece espacio para un diálogo transdisciplinar sobre cuestiones socioeconómicas. Recibe contribuciones en forma de artículos, ensayos, reseñas, fotografías, imágenes, poemas. Busca el reencuentro entre la Universidad y la Sociedad.

Investigacion Economica 

La revista aborda temas sobre distintos aspectos de la economía que introducen al lector a la reflexión sobre las teorías y problemas económicos mediante el análisis y las investigaciones de autores reconocidos. Los artículos son evaluados rigurosamente por un Comité Editorial formado por académicos altamente reconocidos. Investigación Económica aparece en diversos índices como Journal of Economic Literate (Econ. Lit), Public Affairs Information Service Inc (PAIS) en el padrón de y Revistas Científicas Mexicanas del Conacyt.

Levy News

Working Paper No. 539
The Return of Fiscal Policy: Can the New Developments in the New Economic Consensus Be Reconciled with the Post Keynesian View?
Pavlina R. Tcherneva

Mainstream economists, including Federal Reserve Chairman Ben Bernanke, embrace the core concepts of the New Economic Consensus and have severed the Keynesian link between fiscal policy and full employment. The Post Keynesian school of thought, however, has reinstated that link via functional finance, and maintains that there is nothing inherently inflationary about fiscal policy.
To understand the renewed role for fiscal policy, Research Associate Pavlina R. Tcherneva examines the following issues: (1) the effect of government spending and debt on the behavior and expectations of rational consumers; (2) the method of financing government spending and whether there is a binding budget constraint; and (3) the impact of fiscal policy on the banking system and central bank policy.
Tcherneva explains why crowding out, Ricardian equivalence, and budget constraints are irrelevant to understanding the nature of government finance. She discusses the explicit link between fiscal policy and full employment, and concludes that guaranteeing full employment by closing the demand gap will likely fail. Tcherneva favors employer-of-last-resort programs that are judged by their economic impact rather than their budgetary stance.
>> Read complete text (pdf)

Working Paper No. 540
The Effects of International Trade on Gender Inequality: Women Carpet Weavers of Iran
Zahra Karimi

Globalization has been associated with declining labor standards, especially in developing economies. The search for greater flexibility and lower costs has led to a race to the bottom and the exploitation of cheap female labor. Zahra Karimi, University of Mazandaran, Iran, investigates the economic condition of carpet weavers in Kashan and finds that, as a profession, carpet weaving has become a sign of poverty. Harsh competition between developing countries has suppressed real wages, maintained the subordinate position of female workers within households, and led to the substitution of Iranian weavers by Afghan immigrants.
Female carpet weavers bear a double workload, Karimi observes, as traditional gender roles within the household have not changed. Weaving is considered a hobby, and most female weavers have no access to their wages. As the profit margin of investment in Persian carpets continues to shrink, Iran’s female carpet weavers find themselves among the principal losers in the rapid expansion of international trade.
>> Read complete text (pdf)

Working Paper No. 541
The Unpaid Care Work–Paid Work Connection
Rania Antonopoulos

Research Scholar Rania Antonopoulos provides a comprehensive overview of current research about gender disparities in paid and unpaid work. She suggests that a more appropriate usage of the term “unpaid care work” should be constructed around the concept of unpaid social reproduction work (direct unpaid care work plus indirect care work), which excludes unpaid work that produces goods for sale in the market. When paid work is combined with unpaid work, women work longer hours than men in most countries (an additional two to five hours per day). The disparity is higher in rural areas, and declines with the level of economic development.
The working poor must endure substantial “time poverty,” whereby time use forms and structures poverty, while poverty shapes time use. Although women have unequal access to goods, services, and productive resources, they play a significant role in reducing poverty within the household. It is essential to value unpaid work, says Antonopoulos, because it contributes to well-being, makes unpaid work visible, is an economic good, justifies measures to promote gender equality and poverty reduction, and improves women’s claims to entitlements.
Antonopoulos stresses the need for better time-use data, as well as new indicators and mechanisms to monitor the impacts on unpaid work; an analysis of family-work reconciliation policies and unpaid care work; an exploration of the importance of employment guarantee policies in alleviating unpaid work burdens; and a greater focus on the kinds of social protection paid informal care workers require.
>> Read complete text (pdf)

Working Paper No. 542
Keynes’s Approach to Full Employment: Aggregate or Targeted Demand?
Pavlina R. Tcherneva

Research Associate Pavlina R. Tcherneva revisits John Maynard Keynes’s view of employment policy and argues against the mainstream stance that the Keynesian solution for full employment is to boost aggregate demand (i.e., “plug the gap”). Rather, Keynes had a targeted approach to full employment, and favored employment schemes in the form of public works during times of recession and expansion.
The principle of effective demand was truly innovative in Keynes’s work, says Tcherneva. She examines how effective demand differs from aggregate demand; why fixing the point of effective demand at full employment is not possible, and how a policy of public works circumvents this problem; and what role “plugging the gap” plays in Keynes’s analysis.
Pro-growth, pro-investment policies that attempt to push growth beyond potential output as a function of current prices is a wrongheaded approach to full employment, says Tcherneva. The only way to “plug the gap” is to plug the gap for labor via public works (an “on the spot” approach that solves the problem of unemployment via direct job creation, irrespective of the business cycle). To reinstate the link between fiscal policy and full employment, it is necessary to embrace Keynes’s methodology of measuring output.
>> Read complete text (pdf)

The European Journal of the History of Economic Thought

Volume 15 Issue 3 is now available online at informaworld at

This new issue contains the following articles:

Smith's theory of actions and the moral significance of unintended consequences, Pages 401 - 432
Author: Amos Witztum

Producer choice and technical unemployment: John E. Tozer's mathematical model (1838), Pages 433 - 454
Author: Paola Tubaro

Carl Menger's monetary theory: A revisionist view, Pages 455 - 473
Author: Yukihiro Ikeda

Calculation in kind and marketless socialism: On Otto Neurath's utopian economics, Pages 475 - 501
Author: Thomas Uebel

Foucault, Weber and the history of the economic subject, Pages 503 - 527
Author: Philippe Steiner

Between Keynes and Sraffa: Pasinetti on the Cambridge School, Pages 529 - 538
Author: Axel Leijonhufvud

Book reviews, Pages 539 - 552
Author: Axel Leijonhufvud

Rethinking Marxism

Volume 20 Number 4
-- Etienne Balibar: Historical Dilemmas of Democracy and Their Contemporary Relevance for Citizenship
- Editors: Introduction to Rethinking MARXISM
- Stephen Resnick; Richard Wolff: The Class Analysis of Households Extended: Children, Fathers, and Family Budgets
- Kojin Karatani: Beyond Capital-Nation-State
- Kenan Ercel; Maliha Safri; S. Charusheela: Re/membering Twenty Years of Rethinking Marxism: An Interview with David F. Ruccio and Jack Amariglio
- Gayatri C. Spivak; Ben C. Baer: Redoing Marxism at the Gigi Café: A Conversation
- Susan Jahoda: NASA spacecraft
- Editors: Rethinking Marxism: Ten Years On
- J. K. Gibson-Graham: Remarx: Place-Based Globalism: A New Imaginary
- Antonio Negri; Gabriele Fadini: Materialism and Theology: A Conversation
- Anjan Chakrabarti; Stephen Cullenberg; Anup Kumar Dhar: Rethinking Poverty: Class and Ethical Dimensions of Poverty Eradication
- Jesal Kapadia: Ditto
- Antonio Callari: Imperialism and the Rhetoric of Democracy in the Age of Wall Street

Cuadernos De Relaciones Laborales

Vol. 26, núm. 1 2008
Globalización y Sindicalismo


Heterodox Books and Book Series

Integrity and Agreement: Economics When Principles Also Matter

By Lanse Minkler

Moral principle---not mere self-interest---drives rational decision making
About the Book
Social scientists who treat humans as rational beings driven exclusively by self-interest ignore a key factor shaping human behavior: the influence of moral principles. Starting with the elementary principle
"lying is wrong,"
economic theorist Lanse Minkler examines the ways in which a sense of morality guides real-life decision making.

Whether one feels committed to specific or general moral principles, Minkler explains, integrity demands consistently acting on that commitment. Because truthfulness is the most basic moral principle, integrity
means honesty. And honesty extends beyond truth-telling. It requires good faith when entering an agreement and then standing by one's word. From this premise, Minkler explores the implications of integrity
for contracts between buyers and sellers and understandings between employers and employees. He also finds a role for integrity in an individual's religious vows, an elected official's accountability to
constituents, and a community's obligation to human rights.

Integrity and Agreement reintroduces morality as a factor for economists, sociologists, psychologists, and political scientists to consider in their efforts to comprehend human behavior.

Lanse Minkler is Associate Professor of Economics at the University of Connecticut.
"Two impressive features of this book are its clarity of purpose and the breadth of disciplinary resources to which it appeals."
---Geoffrey Brennan, Professor of Economics, Australian National University
"Facing massive evidence that people do not act generally as self-regarding payoff maximizers, economists have become increasingly interested in issues of cooperation, altruism, identity, and morality. Lanse
Minkler's contribution is particularly important because of his powerful argument that the evidence of cooperation cannot be explained adequately by a more complicated preference function. A disposition for
honesty is not simply a matter of preference---it is an issue of personal integrity, identity, and commitment. This has major implications. In particular we have to reconstruct the theory of the firm from first
principles. No economist committed to the pursuit of truth should ignore this volume."
---Geoffrey Hodgson, Research Professor in Business Studies, University of Hertfordshire, United Kingdom, and Editor in Chief of the Journal of Institutional Economics
"This is an interesting account of the role of integrity---preference-integrity and commitment-integrity---on economic behavior. While drawing knowledge from traditional subfields of economics, it also includes
insights gleaned from psychology and philosophy, showing their effects in varied areas such as political behavior, the employment relation, religion, and human rights. In this exciting volume Lanse Minkler
does an excellent job of incorporating various newer concepts of fairness and integrity into economic analysis."
---Ernst Fehr, Professor and Head of the Chair of Microeconomics and Experimental Economic Research and Director of the Institute for Empirical Research in Economics, University of Zurich

Thomas Frank | Follow This Dime
Thomas Frank writes for "Washington is the city where the scandals happen. Every American knows this, but we also believe, if only vaguely, that the really monumental scandals are a
thing of the past, that the golden age of misgovernment-for-profit ended with the cavalry charge and the robber barons, at about the same time presidents stopped wearing beards. I moved to Washington in
2003, just in time for the comeback, for the hundred-year flood. At first it was only a trickle in the basement, a little stream released accidentally by the president's friends at Enron. Before long, though, the
levees were failing all over town, and the city was inundated with a muddy torrent of graft. How are we to dissect a deluge like this one? We might begin by categorizing the earmarks handed out by Congress,
sorting the foolish earmarks from the costly earmarks from the earmarks made strictly on a cash basis."

Solidarity Economy

Building Alternatives for People and Planet
Papers and Reports from the U.S. Social Forum 2007

Edited by Jenna Allard, Carl Davidson, and Julie Matthaei.

SOLIDARITY ECONOMY brings together papers and reports from the “Economic Alternatives and the Social/Solidarity Economy” bloc of sessions at the U.S. Social Forum (USSF). A group of economic
activists and academics -- including Julie Matthaei of Wellesley College, Union for Radical Political Economics, and Guramylay: Growing the Green Economy, Emily Kawano of the Center for Popular Economics,
Ethan Miller and Jessica Gordon Nembhard of Grassroots Economic Organizing, Melissa Hoover of the U.S. Federation of Worker Cooperatives, and Dan Swinney of the Center for Labor and Community
Research – put together this bloc of panels, as well as organized caucus meetings for participants. Last fall and winter, Julie and Jenna wrote an introductory overview on the solidarity economy framework
click here and reports on the caucus meetings, and put together and edited 27 papers and workshop reports. The collection was published in March 2008 by ChangeMaker Publishing, and is available at and e forms; contact Julie Matthaei if you are interested in an e-examination copy. To look at the Introduction click here. The Table of
Contents, short review quotes on the back cover, and more information about the book are also available at  Julie writes that she would appreciate it if you would
check out the book, order it for your institution’s library, consider using it for your classes, and recommend it to others who might be interested. It is a great way to spread the word about, and help build, this
hopeful economic way forward.

Mass Appraisal Methods

An international perspective for property valuers
Edited by: Tom Kauko and Maurizio d’Amato (University of Bari) 
Series: Real Estate Issues
This book takes a cross-disciplinary and cross-cultural look at mass appraisal expertise for property valuation in different market conditions, and offers some cutting- edge approaches.
The editors establish an international platform and present the scientific debate as well as practical feasibility considerations. Heretic and orthodox valuation methods are assessed based on specific criteria,
partly technical and partly institutional. Methodological evaluation is approached using two types of criteria: operational concerns about how to determine property value differentials between spatial and
functional units of real estate in a valid and reliable way (technical criteria); and the kind of market circumstances being operated in (institutional criteria). While technical criteria are relatively well-researched,
there is little theoretically informed work on the connection between country context and selection of property appraisal methods.
The book starts with an examination of current mass property appraisal practices, presenting case studies from widely differing markets - from the American and Dutch, where regression-based methods have
been used successfully for some time; to the Eastern European and other emerging economies, where limitations have to be compensated by focusing on the modelling assumptions.
The second part of the book looks at sophisticated modelling approaches, some of which represent combinations of elements from two or more techniques. Whatever the exact modelling approach, the
requirements are always high for the quality of the data and suitability of the method. In the final section, methods are evaluated and compared according to technical criteria and against institutional contexts.
With its exceptionally wide coverage of valuation issues, Mass Appraisal Methods: an international perspective for property valuers addresses property valuation problems common to different countries and
approaches applicable in both developed and emerging economies.
Table of Contents

1 Introduction: Suitability Issues in Mass Appraisal Methodology (Tom Kauko and Maurizio d'Amato)
2 Data Issues Involved with the Application of Automated Valuation Methods: A Case Study (John F. Thompson, Jr)
3 The Modified Comparable Sales Method as the Basis for a Property Tax Valuations System and its Relationship and Comparison to Spatially Autoregressive Valuation Models (Richard A. Borst and William J.
4 Automated Valuation in the Dutch Housing Market: The Web-Application 'MarktPositie' Used by NVM-Realtors (Dree Op 't Veld, Emma Bijlsma and Paulien van de Hoef)
5 Using Fuzzy Numbers in Mass Appraisal: The Case of the Belarusian Property Market (Maurizio d'Amato and Nikolai Siniak).
6 Mass Appraisal, Hedonic Price Modelling and Urban Externalities: Understanding Property Value Shaping Processes (François Des Rosiers and Marius Thériault)
7 Residuals Analysis for Constructing 'More Real' Property Value (Małgorzata Renigier)
8 The Hierarchical Trend Model (Marc K. Francke)
9 Developing Mass Appraisal Models with Fuzzy Systems (Marco Aurélio Stumpf González)
10 Utterly Unorthodox Modelling for the Purposes of Mass Appraisal: An Approach Based on Patterns and Judgments (Tom Kauko)
11 Rough Set Theory as Property Valuation Methodology: The Whole Story (Maurizio d'Amato)
12 Technical Comparison of the Methods Including Formal Testing of Accuracy and Other Modelling Performance Using Own Data Sets and Multiple Regression Analysis (Richard A. Borst, François Des
Rosiers, Małgorzata Renigier, Marco Aurélio Stumpf González, Tom Kauko and Maurizio d'Amato)
13 Property Market Classification and Mass Appraisal Methodology (Maurizio d'Amato and Tom Kauko)
14 Automated Valuation Methods, Empirical Modelling of Value, and Systems for Market Analysis (Tom Kauko).

The Keynesian Multiplier

Edited by Claude Gnos, Louis-Philippe Rochon
Price: $130.00 
- ISBN: 978-0-415-32013-9
- Binding: Hardback
- Published by: Routledge
- Publication Date: 25th May 2008
- Pages: 224
About the Book
The multiplier is a central concept in Keynesian and post-Keynesian economics. It is largely what justifies activist full-employment fiscal policy: an increase in fiscal expenditures contributing to multiple rounds
of spending, thereby financing itself. Yet, while a copingstone of post-Keynesian theory, it is not universally accepted by all post-Keynesians, for reasons vastly different than the mainstream.
This book explores both the pros and cons of the multiplier from a strictly post-Keynesian – and Kaleckian – approach. Anchored within the tradition of endogenous money, this book offers a lively discussion
from a number of well-known post-Keynesians from a variety of perspectives: history of thought, theory and economic policy. The book starts by analysing the historical foundations of the Keynesian
Multiplier and it’s treatment throughout the history of economic thought. Moving through a critical debate about the limits of the multiplier, the contributions finish by offering cutting edge new views on this
fascinating concept.
Table of Contents
Introduction, Section One: Some Views of the Multiplier, 1. Three Views on the Multiplier, 2. John Maurice Clark’s Contribution to the Genesis of the Multiplier Analysis: A note with some related unpublished
correspondence, 3. The Material and Methodological Significance of the Supermultiplier, Section Two: Critical Insights on the Multiplier, 4. The Investment Multiplier and Income Savings, 5. The Multiplier and
the Principle of Reflux, 6. The Demise of the Keynesian Multiplier Revisited, 7. Consumption, Investment and Investment Multiplier, Section Three: Towards a Re-interpretation of the Muliplier, 8. Kalecki and
the Multiplier, 9. The Keynesian Multiplier: The Monetary Pre-Conditions and the Role of Banks as Defended by Richard Kahn’s 1931 Paper. A Horizontalist Re-Interpetation, 10. The Multiplier, the Principle of
Effective Demand and the Finance Motive: a coherent framework.

The Structure of Post-Keynesian Economics

The Core Contributions of the Pioneers
G. C. Harcourt
Jesus College, Cambridge
This is a major contribution to post-Keynesian thought. With studies of the key pioneers - Keynes himself, Kalecki, Kahn, Goodwin, Kaldor, Joan Robinson, Sraffa and Pasinetti - G. C. Harcourt emphasizes
their positive contributions to theories of distribution, pricing, accumulation, endogenous money and growth. The propositions of earlier chapters are brought together in an integrated narrative and
interpretation of the major episodes in advanced capitalist economics in the post-war period, leading to a discussion of the relevance of post-Keynesian ideas to both our understanding of economics and to
policy-making. The appendices include biographical sketches of the pioneers and analysis of the conceptual core of their discontent with orthodox theories. Drawing on the author's experience of teaching and
researching over fifty years, this book will appeal to undergraduate and graduate students interested in alternative approaches to theoretical, applied and policy issues in economics, as well as to teachers and
researchers in economics.
• A lively and accessible survey of the work of a distinguished non-mainstream economist • Draws on the personal experiences of the author, who was taught by and then worked with most of the economists
discussed • Emphasizes the historical roots of the development of G. C. Harcourt's distinctive approach, as well as the intellectual biographies of the pioneers
Preface; 1. Introduction: why post-Keynesian economics and who were its Cambridge pioneers?; 2. Post-Keynesian macroeconomic theories of distribution; 3. Post-Keynesian theories of the determination of
the mark-up; 4. Macroeconomic theories of accumulation; 5. Money and finance: exogenous or endogenous?; 6. The complete model: its role in an explanation of post-war inflationary episodes; 7. Theories of
growth: from Adam Smith to ‘modern’ endogenous growth theory; 8. Applications to policy; Appendices; Index.

The Generation of Business Fluctuations

Financial Fragility and Mean-field Interactions
By Corrado Di Guilmi
Series: Dynamische Wirtschaftstheorie Vol. 26  Year of Publication: 2008
Frankfurt am Main, Berlin, Bern, Bruxelles, New York, Oxford, Wien, 2008. 149 pp., num. tables and graphs
ISBN 978-3-631-58119-3 pb.

Book synopsis
The limits imposed on economic modeling by the representative agent hypothesis have prevented dynamic analysis from fully exploring the links between the micro and macro level of the economic system.
This book presents developments and applications of the innovative techniques of dynamic stochastic aggregation, first proposed by Masanao Aoki, through an implementation in a New Keynesian financial
fragility framework. The introduction in macroeconomics of statistical mechanics tools, such as mean-field interaction, statistical entropy and master equation, constitutes a step toward a new definition of
microfoundation and allows an integrated modeling of the relationships between micro financial variables and aggregate indicators.
Contents: Business Cycles - Corporate Finance - Stochastic Dynamic Aggregation - Heterogenous Interacting Agents - Stochastic Diffusion Processes - Statistical Entropy - Master Equation.
About the author(s)/editor(s)
The Author: Corrado Di Guilmi earned his Ph.D. in Political Economy from the Università Politecnica delle Marche (Italy). He has been visiting fellow at the Faculty of Economics of the University of Cambridge
and at the Department of Applied Mathematics of the Australian National University.

Microeconomics in Context and Macroeconomics in Context

New Editions of Microeconomics in Context and Macroeconomics in Context
We are happy to announce that new editions of our introductory economics textbooks, and full sets of instructor and student supplements, are now available and ready for use! Both texts are available at an
affordable price of just $49.95 each, and the supplements can be downloaded at no charge. If you pre-ordered either book from M.E. Sharpe, your order is now on its way to you.
Microeconomics in Context, Second Edition by Neva Goodwin, Julie A. Nelson, Frank Ackerman and Thomas Weisskopf, provides a thorough introduction to the principles of microeconomics, but it also
delves deeper, offering a fresh portrait of the economic realities of the 21st century. The book can be ordered from M.E. Sharpe, and free examination copies are available to potential adopters. A
comprehensive Student Study Guide and the full set of PowerPoints slides are available for free download from GDAE’s website. An Instructor’s Resource Manual and Test Bank are also available on GDAE’s
website to verified instructors. For more information, visit: 

Macroeconomics in Context, First Edition by Neva Goodwin, Julie A. Nelson, and Jonathan Harris covers standard topics such as classical and Keynesian approaches, but also addresses issues such as
ecological sustainability, non-marketed production, the quality of life, and the distribution of income. Student copies and free examination copies can be now be ordered from M.E. Sharpe. The accompanying
Student Study Guide and the full set of PowerPoints slides are available to everyone for free download from GDAE’s website. An electronic Instructor’s Resource Manual and Test Bank are available to
verified instructors. For more information, visit: 

Mindful Economics

Mindful Economics: How the US Economy Works, Why it Matters, and How it Could be Different by Joel Magnuson

Mindful Economics is a valuable resource for anyone who wishes to deepen their understanding of the United States economy. The book breaks away from traditional economic theory and provides a fresh,
critical perspective on capitalism in America. The book will be particularly useful for citizens, activists, students or others who seek positive social change. The first several chapters guide the readers through
an exploration of real-world institutions such as corporations, government, market systems, financial and other institutions that make up the U.S. economy. These chapters provide much information about the
histories of these institutions, as well as how they have evolved to serve the profit-making and growth imperatives of capitalism. Embedded in these stories is the consistent theme that the need to maximize
profits for a relatively small section of the U.S. population has shaped the development of America's most powerful institutions. The second part of the book demonstrates how the need for higher profits and
endless growth has intensified environmental destruction, resource depletion, instability, social and political inequality, and even global warming. These problems have become systemic and solutions therefore
require long-term systemic change.
The path toward systemic change is laid out in the third part of Mindful Economics. Such change can be brought about by developing alternative institutions. As these alternatives evolve and grow, they will
place the U.S. economy on a path to a new system. Systemic change will come about gradually by the will of people who purposefully steer the development of the economic institutions in their communities in
a positive and healthy direction. To this end Mindful Economics lays a foundation for building new alternatives that are democratic, locally-based and ecologically sustainable. Such alternatives are not only
viable, they can be found all across the United States. Through a network of alternative institutions, people can begin to build alternatives to capitalism and provide hope for future generations.

International Political Economy: Contrasting World Views

By Raymond C. Miller Price: $44.95
ISBN: 978-0-415-38409-4 , Paperback (also available in Hardback)
Routledge, Pages: 296

About the book:
This textbook is the perfect short introduction to the fundamental theories and issues of international political economy (IPE).
Written in a concise and accessible style, the text equips students with the necessary skills and knowledge to understand this complex and fascinating area. Engaging with both classical theories and the main contemporary debates, this is the ideal starting point for the study of IPE.
The text introduces students to the three main theoretical approaches in IPE: free market, institutionalist and historical materialist. The strengths and weaknesses of the theories are then illustrated by a series of fascinating applied case studies in such core areas as international trade, finance, transnational corporations, development and the environment.
Combining clear historical and theoretical explanation with detailed empirical examples this is essential reading for students of international political economy, global governance and international economics.
Table of Contents:
1. The Field of Study Known as 'IPE' 2. The Market Model and World View 3. Market Applications 4. The Multi-Centric Organizational (MCO) World View 5. The MCO World View ? Critical Applications 6. The Classical Marxist Model and World View 7. Contemporary Applications of Marxist Analysis 8. Clashing Views on Central Issues: A Summation
About the author:
Raymond C. Miller has been national president of two professional
associations: the Association for Integrative Studies and the Society for International Development. He was founding editor of Issues in Integrative Studies. Professor Miller served as a member of the faculty at San Francisco State University for 43 years, where he is now Professor Emeritus of International Relations and Social Science.

The Genesis of Innovation

Systemic linkages between Knowledge and the Market (eds B. Laperche, D. Uzundis, N.G. Von Tunzelmann), New Horizons in the Economics of Innovation series, Edward Elgar, 2008 

Powerful Finance and Innovation Trends in a High-Risk Economy

Powerful Finance and Innovation Trends in a High-Risk Economy (eds B. Laperche and D.Uzunidis), Palgrave Macmillan, 2008 

L’innovation pour le développement. Enjeux globaux et opportunités locales

L’innovation pour le développement. Enjeux globaux et opportunités locales, (ed. Blandine Laperche), Karthala, 2008. 

L'économie Russe depuis 1990

L'économie Russe depuis 1990 (eds Sophie Boutillier et D. Uzunidis), De Boeck, 2008 

La Russie Européenne

La Russie Européenne. Du passé composé au futur antérieur (Sophie Boutillier, Dimitri Uzunidis, eds), L’esprit économique, Série Clichés, L'Harmattan, 2008 

La gouvernance de l’innovation

La gouvernance de l’innovation. Marché et organisations (Sophie Boutillier, Dimitri Uzunidis, eds), L’Esprit Economique, L’Harmattan, Paris, 2007 



Heterodox Book Reviews

The Economics of the Great Depression

The Economics of the Great Depression: A Twenty-First Century Look Back at the Economics of the Interwar Era, by Randall E. Parker, Cheltenham, UK: Edward Elgar, 2007, ISBN: 978-1-84542-127-4; 257 pages. Reviewed by/ David A. Zalewski, Providence College
Click here for the review.

The Creation and Destruction of Social Capital

The Creation and Destruction of Social Capital: Entrepreneurship, Co-operative Movements and Institutions, by Gunnar L.H. Svendsen and Gert T. Svendsen, Edward Elgar, 2005. ISBN 1-84376-616-7; 224 pages. Reviewed by Quentin M.H. Duroy, Denison University
Click here for the review.

Keynes and His Battles

Gilles Dostaler, _Keynes and His Battles_. Cheltenham, UK: Edward Elgar, 2007. vi + 374 pp. $160 (cloth), ISBN: 978-1-85898-266-3.
Reviewed for EH.NET by M. G. Hayes, Homerton College, University of Cambridge.
Click here for the review.


The HEN-IRE-FPH Project

The HEN-IRE-FPH Project for Developing Heterodox Economics and Rethinking the Economy Through Debate and Dialogue

The Heterodox Economics Newsletter, The International Initiative for Rethinking the Economy (IRE), and the Charles Leopold Mayer Foundation for the Progress of Humankind (FPH) ( ) have undertaken a joint project to promote the development of heterodox economics. It involves publishing in the Newsletter reviews, analytical summaries, or commentary of articles, books, book chapters, theses, dissertations, government reports, etc. that relate to the following themes: diversity of economic approaches, regulation of goods and services, currency and finance, and trade regimes. These themes relate to heterodox economics and to the open and pluralistic intellectual debates in economics. It is hoped that the reviews will contribute to strengthening the community of heterodox economists, and to the development of heterodox economic theory through the dissemination of ideas/arguments. The final aim of this project is to help heterodox economists come up with proposals, both theoretical and applied, that would help adapt the economy to the challenges facing humankind. The reviews will be published in the Newsletter and will also be put on the IRE website  For further information about the project, material available for reviewing, and about reviewing the material click here. Anyone interested in contributing to and reviewing material for the HEN-IRE-FPH project should contact Fred Lee, Editor of the Newsletter by email ( ). I am particularly interested in getting recommendations of material that should be reviewed. 


Heterodox Graduate Program and PhD Scholarships

King's College, London

King's College, London, has recently begun to offer scholarships for highly talented PhD students in a wide variety of disciplines. The scholarships in question provide a living allowance of around £14,000, as well as covering the cost of home/EU fees. Paul Lewis and John Meadowcroft of the Department of Management are interested in supervising PhDs in a variety of topics in the field of heterodox economics, including Austrian economics, public choice theory, the methodology of economics, and the history of economic thought (see  and  respectively for further details of our research interests). Anyone interested in pursuing this opportunity should contact either Paul Lewis ( ) or John Meadowcroft ( ) no later than mid-September in order to discuss their research proposal and to prepare a scholarship application.


Heterodox Websites

Brazilian Keynesian Association

The Brazilian Keynesian Association has just be founded in April, 2008.

Palgrave Econolog

Palgrave Econolog lists all the blogs that deal with economic topics. 

The Economics of Social Ownership

Research Network on Innovation

The Research Network on Innovation (RRI) was established in 2007 by economists and management of innovation scholars, across different universities and institutions in France and abroad. The Research Network on Innovation aims at promoting the production and the diffusion of knowledge on the information society and the economy of knowledge and innovation, notably through inter-university relationships and also between the worlds of research and of the enterprise. The network develops common research projects, consulting activities, editorial activities and organizes scientific events.

For more information (activities, how to become a member,...)


For Your Information

Solidarity Economy: A Short Description

Julie Matthaei and Jenna Allard

Solidarity economy organizing provides the type of “middle-run,” transformative economic organizing which Immanuel Wallerstein advocates in his recent article in the Monthly Review (June 2008). The solidarity economy framework emphasizes our relationships to other people and to our environment, and inserts solidaritous values into these relationships. Solidaritous values are cooperative, egalitarian, democratic, locally based, and sustainable. Solidarity economy praxis strives for an economy based on human needs rather than an insatiable drive for profit. The ultimate aim of the solidarity economy is the breakdown of oppressive economic hierarchies of all types, the development of human potential, and the preservation of our communities and environment.

There are four distinct aspects to the interconnected and organic whole that is being conceptualized as “the solidarity economy” by a growing international movement of activists and academics. It is a collection of existing economic practices; a growing network of people and organizations engaged in these practices; a developing local and global movement that informs and advocates for these practices; and a theoretical framework for understanding and analyzing these practices. It can be a way of scaling up initiatives that work, of transcending political boundaries, and of challenging neoliberalism.

Solidarity economy practices and institutions are widespread in the contemporary U.S. Ignored or devalued by mainstream economists, these practices have the potential of building “another economy” block by block. Many are participating in them daily, be it by buying fair trade products, expressing their values through their work, or investing in a socially responsible way. Others are involved in collective solidarity economy efforts such as high road businesses, community economic development projects, localization projects, and many others. The next step, as we see it from our studies of other countries, is to visibilize and reconceptualize solidarity economy practices and institutions as part of an emergent new economic system, create supportive links among them, and build a movement to advocate for public policies to support them. Click here to download the paper.

“Is There an Oil Shortage?"

by Ismael Hossein-zadeh
Click here to download the paper.

William R. Waters Research Grant


The Association for Social Economics sponsors each year a competition for a grant of $5000 to support the research efforts of a junior faculty member or a Ph.D. student nearing completion of the degree. The Grant Application and instructions can be found on the ASE website at

ASE, established in 1941, advances research on the social and ethical foundations of economics and supports economic analysis to help shape scholarship and form policy.

Applications will be accepted until November 1, 2008.

The Award will be announced at the ASSA meetings in San Francisco, CA, January 3-5, 2009.

EEA announces the Koford Prize

In memory of Kenneth J. Koford, editor of the Eastern Economic Journal from 1999-2004, the Eastern Economic Association has established a prize to help junior foreign scholars to attend the annual EEA meetings and to present a paper. The next EEA conference will be held February 27, 2009 – March 1, 2009, at the Sheraton New York Hotel and Towers in New York City. The winner of the Koford Prize will receive $1000 towards travel, registration, and accommodations at the conference. The objective of the Koford Prize is to assist junior economists with completed Ph.D. who have not yet been considered for tenure, and who are not citizens of the U.S. To apply please send a cover letter, vita, and manuscript electronically to Alexandra Bernasek, Department of Economics, Colorado State University, Ft. Collins, Colorado, or electronically to  Please include contact information, an abstract, and three JEL codes with your paper. The maximum paper length is 10,000 words. The deadline for paper submissions is December 15, 2008.

URPE Reality Tour: Chinatown

San Francisco, California
January 2, 2009 2:30-4:30p

Join us for a walking tour to explore the daily culture, rich history, and modern day issues of San Francisco’s Chinatown.

Chinatown Alleyway Tours is a not-for-profit, youth-run, and youth-led program under the umbrella of the Chinatown Community Development Center. The tour leaders are teens and young adults who live in the neighborhoods we will visit.

- Price: $20.00 (includes $2 tip for the guides)
Send your check by December 1, 2008 to:
Hazel Dayton Gunn
Dept. of City & Regional Planning
106 W. Sibley Hall, Cornell University
Ithaca, NY 14853 USA
( )

- Location: Portsmouth Square, on Kearny St. (between Clay and Washington).
Meet us at the UPPER LEVEL of Portsmouth Square, across from the elevator and near the flag-less flagpole (closer to the Washington side of the park).

- Tour guides: Guides will be wearing blue sweatshirts or silver T-shirts with either “Chinatown Alleyway Tours” or “Adopt-an-Alleyway” on them.

- For more information on where to meet for your tour, go to:

Economic Policy Institute Cocktail Reception

2008 Annual Meetings
Being Held At:
Hilton New Orleans Riverside
Two Poydras Street

In Grand Salon 7 & 10

On Saturday, January 5, 2008

6:00PM – 8:00PM

The Economic Policy Institute is an independent, nonprofit, nonpartisan think tank that researches the impact of economic trends and policies on working people in the United States and around the world. Our mission is to inform people and empower them to seek solutions that will ensure broadly shared prosperity and opportunity.

Book Recommendations

Books recommended for an Intro to PE class by members of the URPE listserv (compiled by Amit Basole, August 24th, 2008)

1. Most frequently recommended: Samuel Bowles, Richard Edwards, and Frank Roosevelt, Understanding Capitalism: Competition, Command, and Change, Third
Edition (New York: Oxford University Press, 2005). ISBN 0-19-513865-1
(price: a little over $50; used copies available for less)

2. Jim Stanford, Economics for Everyone (Pluto Press, 2008)Very reasonably priced at around $20.

3. Howard Sherman, E. K. Hunt, Reynold Nesiba, Phil O'Hara, and Barbara Weins Tours, ECONOMICS: INTRODUCTION TO TRADITIONAL AND RADICAL VIEWS, seventh edition, M.E. Sharpe, 2008.

4. Charles Barone, Radical Political Economy

5. Steven Pressman, 50 Major Economists

6. E.K. Hunt, Property and Prophets, M.E. Sharpe, 2003.

7. Carson, Thomos and Hecht, Economic Issues Today: Alternative Approaches, M.E.
Sharpe, 2005.

8. Heilbrener and Milberg, The making of economic society

9. Paul Davidson , JOHN MAYNARD KEYNES (Palgrave. London and New York, 2007) book in the "Great Thinkers in Economics Series" of Palgrave

10. Frank Stilwell, Political Economy: The Contest of Economic Ideas

11. Robert Chernomas and Ian Hudson, Social Murder and Other Shortcomings of Conservative Economics

12. Anti-Capitalism, A Marxist Introduction - edited by Alfredo Saad-Filho

13. Capital and Exploitation by John Weeks

14. Labor and Monopoly Capital, Harry Braverman

15. Workers in a Lean World, Kim Moody

16. Marx’s Capital: Ben Fine and Alfredo Saad-Filho

17. International Political Economy: Contrasting World Views

18. Birds of Passage

19. Rob Albritton , Economics Transformed: Discovering the Brilliance of Marx


21. COMPETITION: The Birth of a New Science (Hill & Wang, 2007) JIm Case

22. Goodwin, Neva, Julie A. Nelson, Frank Ackerman and Thomas Weisskopf, 2005.
Microeconomics in Context. Boston: Houghton Mifflin.

23. Robin Hahnel. ABC's of Political Economy

24. Michale Yates, Naming the System

25. R. Wolff and S. Resnick, ECONOMICS:MARXIAN VS NEOCLASSICAL, published by the Johns Hopkins University Press and available in paperback

26. For an historical perspective on the development of radical political economic thought, David M. Gordon's Problems of Political Economy: An Urban Perspective (1977).

27. More recent (but still dated) contributions could come from Baiman, Boushey and Saunders' Political Economy and Contemporary Capitalism (2000) and Andrew Sayer's Radical Political Economy: A Critique (1995).

28. Lastly, an invaluable addition to a critique of contemporary economic thought is Stephen A. Marglin's The Dismal Science: How Thinking Like an Economist Undermines Community (2008).

29. Joel Magnuson, Mindful Economics

Europa Riformista

Europa Riformista is a cultural association which inserts itself in Social Democratic and Reformism political thought. It believes in a federalist Europe, in a strong Europe capable to grant democracy, growth and welfare. Europa Riformista is a project that enables people to exchange their ideas, thoughts and experiences in order to become more familiar with each country’s history and political issues. On the Socrates and Leonardo Project path, we try to perform previous European experiences and to make others possible. The "Spinelli" Project will enable people to visit and live "parliamentary" experience in another European country.Anyone is kindly invited to join us – to participate, write articles and essays, or suggest ideas and projects. Each year Europa Riformista will organize a meeting, inviting members, supporters and politicians from Europe and the International Organization. 

Center for Global Justice

Milton Friedman Institute

In case you have not heard a Milton Friedman Institute is to be established at the University of Chicago--  However, not all University of Chicago professors are in favor of it--  In fact they have organized an extended protest, see:  Further discussion of it Wall Street Journal on page A17 August 20, 2008 edition entitled " We’re Not All Friedmanites Now" by Thomas Frank--  The objecting Chicago professors welcome outside interest and contributions—such as literature citations of excellent critiques of the Chicago School positions on economics, business, and law. If you have such citations, send them to Professor Bruce Lincoln ( ).