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Issue 76: January 30, 2009


From the Editor

There are many new calls for papers in the Newsletter, three of which I would like to call your attention to: ‘Critical Political Economy,’ ‘Congress of the Brazilian Keynesian Association,’ and the ‘Post-Keynesian Analyses and Modeling;’ in addition, there is also the ongoing Cambridge Realist Workshop. In short academic activities of heterodox economists continue to grow and multiply, perhaps because of the crisis of capitalism. I would also like to draw your attention to Mark Setterfield tribute to John Cornwall (who recently passed away) in the FYI section. I first met John around 1980 when I was on vacation in Nova Scotia. As a graduate student at Rutgers circa 1980, I was taught that John was a perfect example of a very good Post Keynesian macroeconomist—and he was a fine individual.

This year at the ASSA meetings some 173 heterodox economists ticked the ASE box on the registration form (and two were ICAPE exhibitors). These economists came from small colleges and big universities all across the United States and from many international institutions as well. Not all were members of ASE—there were also members of URPE, AFEE, IAFFE, AHE, and SHE. Truly a gathering of heterodox economists! For the next ASSA meetings lets aim for 250.

One final thing. Wolfram Elsner and I have received a grant to put on a workshop on the impact of research assessment, benchmarking, and journal and department rankings on heterodox economics, especially in the European context. Further information will be in the next Newsletter; but if you are interested in presenting a paper at the workshop, which will take in June at the University of Bremen, Germany, please e-mail Wolfram ( ) and myself ( ).

Fred Lee

In this issue:
  Call for Papers
  - CHORD Conference
- Conference of the Regulating for Decent Work Network
- Union for Radical Political Economics
- VI STOREP Conference on the History of Political Economy
- Managing Economic Transition Network
- Post-Crisis States Transformation: Rethinking the Foundations of the State
- European Collaborative Research Projects (ECRP)
- International Journal of Global Energy Issues (IJGEI)
- Critical Political Economy RN at the ESA Conference
- The Erasmus Journal for Philosophy and Economics (EJPE)
- Behavioural Economics, Economic Psychology: Theory and Policy
- Pilgrims to the Euro Area: Romania and other new EU members ante portas
- Second Conference on Developing Quantitative Marxism
- II International Congress of the Brazilian Keynesian Association
- Congreso Internacional de la Asociación Keynesiana de Brasil (AKB)
- Post-Keynesian Analyses and Modeling
- Analyses et Modélisations Post-Keynésiennes
- PEF Student Essay Contest
- XVth World Economic History Congress
  Conferences, Seminars and Lectures
- Seminar - Everyday Economics
- Cambridge Realist Workshop
- The Green Economics Institute
- Studies in Economic Transition Series
- The Eighth Congress of the U.S. Basic Income Guarantee Network
- Culture and Economic Performance
- Understanding and Treating the Crisis and Ensuing Slump
- The International Socialist Tradition in Political Economy
- The Globalisation Lectures
Job Postings for Heterodox Economists
  - The Economics, Management and Demography Doctoral School
- Vacancy at University of Paris 13
- Earlham College
  Heterodox Conference Papers and Reports and Articles
  - Levy Papers
- Petroleum and Energy Policy in Iran
- Post Keynesian Economics
- An Introduction to the Economics of Abundance
- The Role Of Markets In The System Of Abundance
Heterodox Journals and Newsletters
  - Metroeconomica
- Friends of Associative Economics Bulletin
- International Review of Applied Economics
  Heterodox Books and Book Series
  - Understanding Keynes' General Theory
- Re-reading Marx
- Beyond the World Bank Agenda: An Institutional Approach to Development
- Institutional Economics and Psychoanalysis
- The Metaphysics of Capitalism
- History of Economic Thought and Methodology eBooks
- Radical Economics and Labour
  Heterodox Book Reviews
  - L’économie morale, pauvreté, crédit et confiance dans l’Europe préindustrielle
- Genres of the Credit Economy
  Heterodox Graduate Program and PhD Scholarships
  - City University London
- PhD Studentship
The HEN-IRE-FPH Project
  - The HEN-IRE-FPH Project for Developing Heterodox Economics and Rethinking the Economy Through Debate and Dialogue
- L’économie morale, pauvreté, crédit et confiance dans l’Europe préindustrielle
- Genres of the Credit Economy
- Rhetoric vs Realism in Economic Methodology
  For Your Information
  - PERI – Political Economy Research Institute
- ESSAY: Dan Hind on the Financial Crisis
- Tribute to John Cornwall By Mark Setterfield
- PhD Comics
- ¿Somos todos keynesianos?

Call for Papers

CHORD Conference


9 and 10 September 2009

The Centre for the History of Retailing and Distribution wishes to mark the first ten years of its history by inviting conference proposals on any aspect of retailing and / or distribution history. Papers from any disciplinary perspective and covering any geographical area / chronological period are welcome.

Proposals are invited either for individual papers or for sessions (generally of three papers). Please send (if possible via e-mail) a one page abstract and if proposing a session, a cover letter with title and one-paragraph session description, to the address below by 9 April 2009.

Conference web-pages:
CHORD web-pages:

For more information, please contact:

Dr. Laura Ugolini, HAGRI/HLSS, University of Wolverhampton. E-mail:

Postal address:
MC 233
Millennium City Building
University of Wolverhampton

Conference of the Regulating for Decent Work Network

Regulating for decent work: innovative regulation as a response to globalization
International Labour Office,
Geneva, Switzerland
8-10 July 2009

Union for Radical Political Economics

Call for Papers - Annual Meeting of ASSA
Atlanta, January 3-5, 2010

URPE invites proposals for individual papers and complete sessions for the URPE at ASSA annual meeting. URPE welcomes proposals on radical political economic theory and applied analysis from a wide variety of theoretical traditions.

The deadline for proposed papers and sessions is May 1, 2009. At that time individual and panel proposals will be checked to be sure everyone is current with their URPE dues or the proposals will be set aside.
Click here for detailed information.

VI STOREP Conference on the History of Political Economy

3-4 June 2009, University of Florence, Italy

The Sixth Annual Conference of the Italian Association for the History of Political Economy (STOREP) will be held at the University of Florence, Italy, on June 3-4, 2009.

The central theme of the conference is "Financial Crises in the Economists' View".

Proposals of sessions or submissions of papers concerning any other aspect of the history of economic thought are also welcome. An abstract of 200 words or less for a paper, or a brief description of theme, motivation, authors and papers' titles of 400 words or less for a session should be submitted to:

The deadline for submissions is February 28, 2009.

Notice of acceptance or rejection will be sent within March 15, 2009.
Completed papers will be due by May 15, 2009.

General information on the conference can be found at:

Managing Economic Transition Network

23rd research seminar of the Managing Economic Transition network is organized jointly with t the European Association for Comparative Economic Studies
The research seminar will be hosted by EST, University of Brighton Business School on the 8th of May 2009.
We look forward to receive papers which relate any economic issues of Central Eastern Europe and Central Asian region, both on macro and micro level. Issues, which relate to the current economic crisis, will be particularly welcome. Our selection however will be primarily based on quality not on a particular choice of topics.
The papers or abstracts should be sent to Chris Matthews  no later than on the 31st of March. The network seminars are free for all, but we do not cover any costs.

Post-Crisis States Transformation: Rethinking the Foundations of the State

Organised by the ESF, in partnership with Linköping University (LiU)
1-5 May 2009, Scandic Linköping Väst, Linköping, Sweden
Chaired by: Ivan Samson, Université Pierre Mendès France, St. Martin-d'Hères, FR
Consensus is growing that the application of the Western model of the Nation State in post-crisis contexts poses many problems. This particular model of the State is at the foundation of the current international system. While it originates from the specific socio-historic context of Europe, the model is widely applied in post-crisis countries (post colonial, post-conflict and post-Soviet) under the assistance or influence of the international community. The conditions in which recent states are formed differ substantially. Mainstream models of state-building assume that state legitimacy can be established and state collapse avoided through international intervention combined with military presence, huge amounts of aid and democratic elections.
Click here for more information (URL:

European Collaborative Research Projects (ECRP)

The European Science Foundation has published a Call for Proposals for the European Collaborative Research Projects (ECRP) scheme in the social sciences. The ECRP scheme supports responsive-mode, investigator-driven, international collaborative research in all fields of the social sciences in the countries of 21 participating funding organisations.
European Collaborative Research Projects (ECRP) in the social sciences
Launch of call: 13 January 2009
Deadline for submission of proposals: 12 March 2009, 16.00 CET

For inquiries on the ECRP scheme, please contact:
Ms. Sarah Moore, email: 

International Journal of Global Energy Issues (IJGEI)

Call for Papers
Special Issue on: "Energy Security in the 21st Century"
Guest Editor: Dr Lynne Chester, Curtin University of Technology, Australia
As we approach the end of the 21st century’s first decade, energy security is high on the policy agenda of the developed and developing world, and supranational organisations such as the European Commission, World Economic Forum, OECD, NATO, APEC and the G8. The European Union, the UK and Japan, to name a few, have spent considerable resources developing energy security strategies. Events such as a rapid escalation in oil prices, disruption of gas supplies to Europe during freezing winter temperatures, electricity blackouts following hurricanes or other severe natural disasters, tend to focus public and media attention on energy supply issues and measures taken by governments to overcome short-term supply disruptions. This also was the focus of energy security strategies following the 1970s oil disruptions.

Click here for detailed information.

Critical Political Economy RN at the ESA Conference

Lisbon, 2-5 September 2009

The financial crisis: Responses and implications in Europe

Europe is experiencing its most serious financial crisis since the Great Depression. The response of the EU and member states to this crisis has been paradoxical. The crisis has discredited the 'Anglo-American' model of finance-led capitalism and gravely weakened the American imperium.

Yet, the countries of Europe have been unable either individually or collectively to devise a concerted regional solution to the crisis.
The result has been rising unemployment, the intensification of intra-regional disparities, signs of inter-state rivalries and is likely to result in growing poverty. Notwithstanding the deployment of massive resources to failing banks, the EU and member states continue to pursue the main planks of the neoliberal agenda, including labour market reforms, privatisation, and financialisation. This session seeks to address the prospects for a European alternative to U.S.-led neoliberalism. Addressing the theme of this conference, we aim to consider to what extent does the current crisis unite or divide Europe and prospective allies in the world order, and what are its implications for the European project of integration. We invite papers which consider at least one of the following:

- Limits and contradictions of the mode of development currently in crisis, which may enable us to understand the current conjuncture.

- The problem of translating intellectual criticism into policy prescription or alternative strategies

- The political consequences of the crisis, its implication for
political strategies pursued in relation to the 'European model' as well as to the regulatory frameworks on national and sub-national levels

- The issue of contemporary social and political mobilization and attendant effects on the 'limits of the possible'.

Abstracts should be submitted by 26 February 2009 (online submission form: view Call for Abstracts button at )

More information on CPE RN:

The Erasmus Journal for Philosophy and Economics (EJPE)

EJPE is a peer-reviewed biannual academic journal publishing research which improves our understanding of the methodology, history and inter-disciplinary relations of economics. EJPE is supported by the Erasmus Department of Philosophy and the Erasmus Institute for Philosophy and Economics (EIPE) and is an open access journal.
EJPE aspires to:
- publish high quality and interesting contributions to the field of philosophy and economics.
- provide a forum for inter-disciplinary content and approaches that is particularly friendly to Young Scholars (graduate students and recent PhD graduates), supported by an efficient and constructive peer review process.
Call For Papers

Research domains

(1) Methodology of economics
Issues falling within the analytical philosophy of science tradition including the methodological analysis and appraisal of the concepts, theories and techniques of economics, both mainstream and heterodox. Contributions on methodological issues in evolutionary and institutional economics are particularly welcome.

(2) History of economic thought
Issues in the historical development of the ideas, theories, and methods of economics.

(3) Inter-disciplinary issues relating economics to other fields
Issues arising from non-traditional sources of critique and investigation of economics, including, for example, ethics; sociology; political philosophy; continental philosophy; rhetoric. Such contributions must show a clear connection to economic issues and involve conceptual rather than purely empirical analysis.

Content sought

Academic articles (5-7 per issue; with abstract; 4000-8000 words; [exceptional papers may be longer by arrangement])

Book reviews (4-6 per issue; 750-2000 words)

Summaries of recently completed PhD theses in philosophy and economics (500-1000 words)

Deadline: March 1st
Sample Issue (Autumn 2008): Available online at
Realism from the ‘lands of Kaleva’: an interview with Uskali Mäki

(Why) do selfish people self-select in economics?
By Alessandro Lanteri
Are we witnessing a ‘revolution’ in methodology of economics? About Don Ross’s recent book on microexplanation.
By Maurice Lagueux

Reply to Lagueux: on a revolution in methodology of economics
By Don Ross

The impossibility of finitism: from SSK to ESK?
By David Tyfield
Bernard Mandeville and the ‘economy’ of the Dutch
By Alexander Bick

Is history of economic thought a “serious” subject?
By Maria Cristina Marcuzzo
Reviewing 'The Cult of Statistical Significance': an exchange between Aris Spanos and Stephen Ziliak & Deidre McCloskey
The EJPE Editors 

Behavioural Economics, Economic Psychology: Theory and Policy

Conference WEB site:

7-11 JULY 2009

Halifax , Nova Scotia , Canada
International Association for Research in Economic Psychology (IAREP)
Society for the Advancement of Behavioral Economics (SABE)
Conference Theme: “Behavioural Economics, Economic Psychology: Theory and Policy”

Behavioral economics and economic psychology have made significant advances over the past two decades impacting on economic theory and public policy. These realms of research are influenced by research in economics, psychology, sociology, biology, neuroscience, institutions as well as being informed by traditional empirical studies and evidence derived from experimental economics and surveys, interviews, and simulations. Thus, behavioral economics and economic psychology are enriched by a knowledge base that spans the disciplinary divide.

The IAREP-SABE Conference aims at providing voice to economists, psychologists and other academics to rigorously discuss and debate their latest research in a welcoming scholarly environment. We welcome paper submissions as well as session submissions, be they of a theoretical or empirical bent, on all relevant topics relating to behavioral economics and economic psychology.

The deadline for submissions is March 15, 2009. You will be notified by April 30, 2009, whether or not your submission has been accepted for presentation.

All sessions will take place at Saint Mary's University.

Some Conference Highlights:

George Akerlof 2001 Nobel Laureate in Economics (University of California, Berkeley) will present one of SABE's two Herbert Simon Memorial Lectures

Gerd Gigerenzer
(Max Planck Institute for Human Development, Centre for Adaptive Behavior and Cognition, Berlin) will present the other of SABE's Herbert Simon Memorial Lecturers.

Ilana Ritov
(The Hebrew University of Jerusalem) will present IAREP's Kahneman lecture.

Morris Altman (Academic convener)
Sonja Novkovic (Local convener)

Pilgrims to the Euro Area: Romania and other new EU members ante portas

From 4 to 6 September 2009 in Brasov, Romania
We invite economists to present their latest research results on the possible tensions and problems for new member countries on their road to EMU, and for the enlarged Euro area. The background is the debate on an emerging split of the current EMU countries in terms of current account imbalances, different inflation rates and unit labor cost developments nine years after the introduction of the Euro. Is there a split, and if, would new EMU members aggravate it? A related objective is to contribute to the ongoing debate on institutional reforms of the EU, and the Euro area in particular. Papers with empirical, theoretical or institutional orientation are highly welcomed. Also, organizers are particularly interested in research papers with a focus on labor market integration and the Euro. Generally, the list of topics that follows should not be considered as exclusive:
- Labor market asymmetries among new and old EU countries and institutional reforms
- The impact of asymmetries on the on common monetary policy and vice versa: the impact of a common currency on labor market flexibility
- Synchronization of economic activities (optimum and enogenous currency areas)
- Long-run convergence (real and nominal) of new member countries
- Driving forces for institutional changes on the national level.
- Own currency or the Euro? The problems of fixed and flexible exchange rates, and a single currency reconsidered in general or with respect to new EU member countries.
- New institutional solutions for the EU.
We welcome studies with a comparative perspective as well as country studies, in particular, from new member countries. Papers will be published in a conference volume; and the best papers will be published in a special issue of the European Journal for Comparative Economics ( ).
Submissions and deadlines
Authors are invited to submit an abstract (500 words) of their paper by 31 March 2009 at latest to:
Ileana Tache: 
Hubert Gabrisch: 
Submitted papers are subject to a review process. Decisions will be made by 30 April 2009.
Scientific committee: Ileana Tache (Jean Monnet Chair, University of Brasov), Hubert Gabrisch (Halle Institute for Economic Reseach), Jens Hölscher (University of Brighton, President of EACES), Nicolae Marinescu (University of Brasov), Marius Dinca (University of Brasov), Michael Keren (Hebrew University of Jerusalem, EJCE), and David Kemme (University of Memphis, Tennessee, Executive Committee of EACES)
Submission of full papers is expected to happen not later than 1 August 2009.
There is no submission fee. The registration fee of Euro 60 is waived for EACES members. Organizers do not compensate for travel and accommodation, but provide refreshments and lunches and a dinner. The program will include a trip by coach to the scenic and historical important Bran region, including a visit to Dracula’s Castle. 

Second Conference on Developing Quantitative Marxism

16th-18th April 2009, Burwalls Hall, University of Bristol

Organised by Department of Economics, University of the West of England, Bristol and the Department of Economics, University of Bristol

Following last years successful inaugural conference, offers of papers are invited for a conference on developing quantitative and empirical Marxism.

Bringing together some of the researchers in the area might provide further momentum.

This new initiative will try to develop empirical Marxist analysis as an alternative perspective to the prevailing orthodoxy and try to create a coherent, influential and self sustaining research agenda.

Papers are invited on any Marxist economics topics that deal with empirical issues and/or use quantitative information and methods. The intention is not to debate the validity of the approach, but to use it to show the power and potential of Marxist analysis of capital. The areas covered in the 1991 book may well be revisited but it is also expected that the papers will develop a more comprehensive and contemporary research agenda.

Please send a title and abstract as soon as possible and before 9th February 2009 to:
Professor J Paul Dunne: Email:

For details on the previous conference and to keep up with developments see:

II International Congress of the Brazilian Keynesian Association

Call for Papers
The Brazilian Keynesian Association (AKB) is organizing his 2nd International Congress which will be held in Porto Alegre (Brazil), from 9 to 11 September, 2009. The Congress theme is "Financial instability and Contemporaneous Capitalism". With this theme, the AKB aims at analyzing, in a Keynesian perspective and other heterodox approaches, the international financial crisis and its impacts on world economy, more specifically on Latin-American and Brazilian economies. We would like to invite you to submit papers to our Congress. The submissions shall be related to the following topics:
- Financial instability and recession;
- Financial and exchange rate crises;
- Fiscal and monetary policies;
- Financial system and investment;
- Exchange rate regime and capital controls;
- Subprime crisis and its impacts on world economy;
- Economic growth and cycles;
- Reforming the international monetary system.
Submission details:
i. Submission dates: from March 2 to April 30, 2009 (deadline);
ii. The papers can be written in Portuguese, Spanish or English;
iii. The paper's copies (3) must be sent to the following address: Programa de Pós-Graduação em Economia/UFRGS, Av. João Pessoa 52/sala 33b, Centro, Porto Alegre/RS, 90040-000, a/c Fernando Ferrari Filho, President of the Associação Keynesiana Brasileira;
iv. The author should send the file with the paper (with his/her name and affiliation) to the email
v. Each author can not submit more than 2 (two) papers;
vi. The print papers must have the following characteristics: the name of the author and his/her affiiliation should be extracted from the printed paper; they must be written in Microsoft Office Word 97 (or compatible) or in PDF, the maximum number of pages is 25, abstract included, the space between lines is simple and the font and the size of letters have to be, respectively, Times New Roman and 12 pt;
vii. The fees, cost for transportation and accommodation are at the expense of participants.
Scientific Committee and Other Details
The Scientific Committee is Ricardo Dathein (UFRGS), Simone Deos (UNICAMP), José Rubens Garlipp (UFU), José Luís Oreiro (UnB) e Marco Flávio Resende (UFMG)., Additional details about our Congress will appear in the AKB website ( ), as soon as the Steering Committee, Fernando Ferrari (UFRGS), Luiz Fernando de Paula (UERJ), Ana Rosa Mendonça (Unicamp) e Vanessa Petrelli (UFU), has some news.

Congreso Internacional de la Asociación Keynesiana de Brasil (AKB)

invitación a presentar Trabajos

La Asociación Keynesiana de Brasil (AKB) organiza su Segundo Congreso Internacional que tendrá lugar en Porto Alegre (Brasil) entre el 9 y el 11 Septiembre de 2009. El tema del Congreso será "La inestabilidad financiera y el capitalismo contemporáneo". Las AKB escogió este tema para discutir, desde una perspectiva keynesiana y otras perspectivas heterodoxas, la crisis financiera internacional y su impacto en la economía mundial, particularmente, en las economías latinoamericanas y de Brasil. Hacemos una invitación a presentar ponencias en los siguientes temas específicos:

- Inestabilidad financiera y recesión;
- Crisis financieras y cambiarias;
- Políticas monetarias y fiscales desde una perspectiva heterodoxa;
- El sistema financiero y la inversión;
- Regímenes cambiarios y control de capitales;
- La "crisis subprime" y su impacto en la economía mundial;
- Crecimiento económico y ciclo;
- La reforma del sistema financiero internacional.
Forma de presentación:
i. Fechas de entrega: 2 de marzo al 30 de abril de 2009 (fecha límite);
ii. Se aceptaran trabajos escritos en portugués, español e inglés;
iii. Los trabajos deben estar escritos en Microsoft Office Word 97 (o compatible) o formato PDF, máximo de 25 páginas (que incluye resumen del trabajo), espacio entrelíneas simple, Times New Roman y 12 puntos. El nombre del autor y la filiación institucional deben ser excluidos de la copia del trabajo en papel.
iv. El autor debe enviar tres copias en papel a la dirección Programa de Pós-Graduação em Economia/UFRGS, Av. João Pessoa 52/sala 33b, Centro, Porto Alegre/RS, 90040-000, a/c Fernando Ferrari Filho, Presidente da Associação Keynesiana Brasileira;
v. Se debe enviar una copia electrónica del trabajo (con nombre del autor y filiación institucional) al correo electrónico:
vi. Cada autor puede participar con máximo dos (2) trabajos;
vii. Los gastos asociados a la participación de la conferencia (cuotas, costo de transporte y alojamiento) son asumidos por los participantes.
Comité científico y otros detalles
El Comité Científico está conformado por José Luís Oreiro (UnB), José Rubens Garlipp (UFU), Marco Flávio da Cunha Resende (UFMG), Simone Deos (UNICAMP) y Ricardo Dathein.
La organización del comité está a cargo Fernando Ferrari (UFRGS), Ana Rosa Mendonça (Unicamp), Luiz Fernando de Paula (UERJ) y Vanessa Petrelli (UFU) que proporcionarán información adicional el desarrollo congreso en el sitio web de AKB, cuya dirección es

Post-Keynesian Analyses and Modeling

I am pleased to announce that the Centre of Economics of Paris North (U. of Paris 13) has decided to create a working group called “Post-Keynesian analyses and modeling.”

The aim of this group is to promote post-Keynesian research. It is therefore open to all researchers working in this field. In particular, works on Kaleckian (growth-income distribution) and Kaldorian (path dependency, memory effects) themes will be developed inside of this group. This is not an exhaustive list, and all work closely related to Post-Keynesian themes is welcome.

A number of seminars have already been scheduled, from January to May. A list of the seminars, that will take place at the University of Paris 13, will be established very shortly.
The first seminar takes place on Friday, January 23th, at the “Maison des Sciences de l’Homme” of Paris 13, with Edwin Le Héron, who will present a paper on “The financial crisis and banking behavior in a stock-flow consistent model.”
A workshop with the best international specialists working on Post-Keynesian modeling will also be organized, during the second or third week of November.

Thanks for spreading the information about the creation of this group in your respective departments and networks.

If you are interested in taking part in this working group, please send me an E-mail. A mailing list will be established shortly.

Yours sincerely,

Dany Lang, Maître de conférences (senior lecturer),
CEPN, UMR CNRS 7115, Université de Paris XIII
99 avenue Jean-Baptiste Clément, F - 93430 Villetaneuse  +33(0)

Analyses et Modélisations Post-Keynésiennes

J'ai le plaisir de vous informer que le Centre d'Economie de Paris Nord (U. de Paris 13) a décidé de créer un groupe de travail intitulé "analyses et modélisations post-keynésiennes."

Ce groupe a pour objet la promotion des travaux post-keynésiens. Il est donc ouvert à tous les chercheurs, français ou internationaux, menant des travaux autour de ce thème. En particulier, les travaux sur les thèmes kaléckiens (croissance-répartition), kaldoriens (dépendance au chemin suivi et effets de mémoire) seront développés dans le cadre de ce groupe. Mais cette liste n'a rien d'exhaustif, et tous les travaux proches des thématiques post-keynésiennes sont les bienvenus.

Un certain nombre de séminaires sont dores et déjà programmés, de janvier à mai. Nous allons établir et diffuser prochainement la liste de ces séminaires. Le premier d'entre eux aura lieu dès vendredi 23 janvier, avec la venue d'Edwin Le Héron à la MSH de Paris Nord.
Un workshop regroupant les spécialistes internationaux qui font référence en matière de modélisation post-keynésienne sera également organisé, la deuxième ou la troisième semaine du mois de novembre.

Merci de bien vouloir diffuser l'information concernant la création de ce groupe dans vos laboratoires et réseaux respectifs.
Si vous êtes intéressé(e) par une participation à ce groupe de travail, je vous invite à me contacter par courriel. Une liste de diffusion sera établie rapidement.

Au plaisir de vous lire,

Dany Lang, Maître de conférences,
CEPN, UMR CNRS 7115, Université de Paris XIII
99 avenue Jean-Baptiste Clément, F - 93430 Villetaneuse  +33(0)

PEF Student Essay Contest

USE YOUR ECONOMICS FOR SOCIAL JUSTICE! Tired of learning economics that seems more interested in justifying the status quo, than in explaining the real world – and changing it? Then join thousands of economics students around the world: put your economics to work in the cause of social change. PRIZES $1000: Top Graduate Essay $500: Top Undergraduate Essay Prizes will be awarded to an essay of 5,000-10,000 words on any subject related to political economy, economic theory or an economic policy issue, which best reflects a critical approach to the functioning, efficiency, social and environmental consequences of unconstrained markets. DEADLINE FOR APPLICATIONS: May 1, 2009 Mail 1 Hard Copy of Your Essay to: PEF Student Essay Contest, c/o Professor Brenda Spotton Visano School of Public Policy and Administration Ross Building N802 York University, 4700 Keele St., Toronto Ontario Canada M3J 1P3 All entrants receive a complimentary 1-year membership in the Progressive Economics Forum. Judges’ decisions are final. Circulate a poster in your department by downloading it at  Contest rules and application form can be downloaded at

XVth World Economic History Congress

Utrecht, Netherlands, 3-7 August 2009
Session "Why is economic history not an evolutionary science?"

Description and aim of the session: Economic history is dominated by two opposite approaches that can be roughly defined as either quantitative or qualitative. Each of these
approaches receives criticism from the other side. Not seldom, the analytical results of either of these approaches differ fundamentally, which is a clear sign of the insufficient explanatory power of both quantitative and qualitative research techniques. Economists have long been aware of this discrepancy between positivist, neoclassical and subjectivist, institutional research. An analytical solution that recently started to gain ground is the evolutionary approach. In their theoretical discourse, evolutionary economists have been able to prove that an evolutionary analytical framework of
economics can overcome the limitations of both quantitative and qualitative approaches.

We are convinced that this is a highly promising event for the development of economic history as a scientific discipline. The question remains, however, how evolutionary theory can be turned into sound historical research practice. Therefore we would like to bring
together evolutionary theorists and economic historians to discuss how
evolutionary economics can become the basis of an evolutionary economic history.

We propose to build this session around four elements of focus:
(1) Theory: evolutionary concepts and their position in historical research practice,
(2) Sources and research goals: which sources (archival and other) can be used in evolutionary economic history? How can they be used? Why should they be used?
(3) Method: Evolutionary economic theory and its use in historical practice?
(4) Results: presentation of the results of economic historical research carried out in an evolutionary manner.

Werner Scheltjens, LARHRA, ENS-LSH, Université de Lyon
Prof. Dr. Kurt Dopfer, University of St. Gallen

The session will contain 6 to 8 papers. A number of papers are reserved
for those who reacted to the original session proposal.

This call aims at recruiting 3 to 5 more papers. Applicants are requested to provide a short resume and a list of publications as well as an abstract of one-two pages.

The submission deadline is February 28, 2009. Acceptance decisions will be
communicated before March 15, 2009.

We encourage graduate students to apply.

Deadline for submission of the complete paper: May 31, 2009.

The congress organization has a grants programme for students from
developing countries presenting a paper at the congress; the deadline
for applications is February 1, 2009:

For more information on the World Economic History Congress, see:  


Conferences, Seminars and Lectures

Seminar - Everyday Economics

Date: Wednesday, 18th February, 2009, 12:45 - 14:00
Venue: National Audit Office, 151 Buckingham Palace Road, Victoria, London, SW1W 9SS
Speaker: Dr Martin Weale CBE , Director NIESR

Financial services sector and its importance to the economy as a whole and what happens when it goes wrong!

Date: Monday, 23rd March, 2009, 12:45 - 14:00
Venue: National Audit Office, 151 Buckingham Palace Road, Victoria, London, SW1W 9SS
Speaker: Professor Charles Goodhart, London School of Economics

Monetary policy and why are measures such as interest rate cuts used to stimulate growth?

Date: Wednesday, 22nd April, 2009, 12:45 - 14:00
Venue: National Audit Office, 151 Buckingham Palace Road, Victoria, London, SW1W 9SS
Speaker: Ray Barrell, Director of Macro Economic Research and Forecasting NIESR

Fiscal stimulus - how do we get ourselves out of recession?

The events are free but registration is required.

If you would like to attend the event or to receive further information, please contact Pat Shaw by
email:  or
phone: 020 7654 1905. 

Cambridge Realist Workshop

The programme for the Lent Term 2009 can be found at: 

The Green Economics Institute

The Green Economics Institute is holding an event exploring the effects of women's unequal pay, poverty and
other social and environmental justice issues, with the aim to show how their causes are linked and how green economics perspectives can help in solving them. The event will take place at the Reading International
Solidarity Centre, London Road, Reading, UK on 7 March 2009. I attach the conference information and look
forward to seeing you there. If you would like to speak or book or run a stall at the event or for more
information please email Volker Heinemann at 

Studies in Economic Transition Series

Series Editors Jens Hölscher and Horst Tomann will chair the event with Brigita Schmögnerova, EBRD as guest
on Friday 30th January, 4pm
in the Staff Common Room (125), The Department of Economics, University College London, Drayton House, Gordon
Street, London,WC1 6BT
Please reply by 23rd January to Beverley Millar on 01256 302720 or

The Eighth Congress of the U.S. Basic Income Guarantee Network

February 27 – March 1, 2009
Sheraton New York Hotel
811 Seventh Avenue at 53rd Street., New York, NY
Click here for the program.

Culture and Economic Performance

SCEME workshop on 'Culture and Economic performance' on 25 April: call for participants.
The programme and registration details for this workshop are now available at  For further information please contact Sheila Dow on

Understanding and Treating the Crisis and Ensuing Slump

SCEME Public Lecture by Professor E S Phelps, Stirling Management Centre, early evening, Friday 29 May 2009 on 'Understanding and Treating the Crisis and Ensuing Slump: The Early Moderns - Knight, Keynes and Hayek - are Necessary but not Sufficient'.
Further details for both events are available at  For further information please contact Sheila Dow on 

The International Socialist Tradition in Political Economy

An International Socialism journal seminar with Alex Callinicos, author of An Anti-capitalist Manifesto, The Revolutionary Ideas of Karl Marx and The Resources of Critique.

6.30pm, Friday 30 January. Room 629, Birkbeck university, Malet Street, London WC1

At this, the first in a series of seminars organised by International Socialism journal, Alex will set out the analysis of capitalism first developed by Tony Cliff, Mike Kidron and others associated with the journal. He will consider its strengths and weaknesses in relation to later analyses that emerged from the 1970s onwards, such as those developed by Ben Fine, David Harvey and Robert Brenner.

For more information phone 020 7819 1177 or email

The Globalisation Lectures

Organised by the Department of Development Studies
School of Oriental and African Studies (SOAS)
University of London
Convenor: Prof. Gilbert Achcar

Former President of 1999 Nobel Peace Prize winner Doctors without Borders (MSF, Paris)

Wednesday 28 January, 6:30pm
SOAS, Brunei Gallery Lecture Theatre

Born in Jerusalem in 1950, Rony Brauman worked since 1977 in the field of international medical assistance. After having served as a physician in developing countries with Medecins Sans Frontières (France), he became President of the organisation in 1982, remaining in this position until 1994. He currently teaches at the Institut d'Etudes Politiques (Paris) and remains involved with MSF for training and evaluation.
Rony Brauman is the author of several publications in French on humanitarian action as well as on the Israel-Palestine conflict. With Eyal Sivan, he also co-directed a documentary film (1999) based on Hannah Arendt's famous Eichmann in Jerusalem.


Centre de Recherches sur le Brésil Contemporain
École des Hautes Études en Sciences Sociales
Maison des Sciences de l’Homme

Entre les années 1930 et 1980 le développement de l’Amérique Latine a été fort, et plusiers pays réalisaient completent leur révolution capitaliste avec la révolution industriel. Ça a été possible parce que une stratégie national de compétition – le national-développementisme – orientait le gouvernement et les entrepreneurs et, essentiellement, a été capable de neutraliser la tendance à la survaluation du taux d’échange. Cependant, depuis la grande crise de la dette externe des années 1980, et la subordination au Nord que s’en suit, les taux de croissance baissent. Dans le deuxième séminaire, on discutera les causes internes et externes de cette capitulation. Dans le troisième séminaire, l’alternative que progressivement se matérialise dans la région – le nouveau développementisme – est présenté et le problème de la neutralisation de la tendance à la survaluation du taux d’échange est discuté. Dans le quatrième séminaire on retourne, d’un coté, à la discussion de la globalisation et de la lente mais effective formation d’un Système Politique Globale au même temps que les pays deviennent démocratiques, d’autre, à la crise du capitalisme basé dans les finances et de son idéologie néo-libérale. 

Job Postings for Heterodox Economists

The Economics, Management and Demography Doctoral School

The Economics, Management and Demography Doctoral School (n°42) will be equipped for the year 2009 – 2010 with a post doctorate degree grant.

This one can be awarded to the following research teams belonging to the Doctoral School :

- GREThA UMR 5113 <>  (Dir. Pr. Y.

- LARE-Efi <>  (Dir. Pr. Y. Marquet)

- IRGO <>  (Dir. Pr. G. Hirigoyen)

- IEDUB - mailto :  (Dir. Pr. Ch. Bergouignan)

Annual amount remuneration :

Euros 40 000 (without pay roll taxes deduction)

Monthly net wage : euros 2 000

Both French and foreign post doctor’s degree researcher is authorized to apply for this grant.

*How to apply for the grant* :

Contact the director of the specific research team for information.

The research teams directors belonging to the Doctoral School will have to inform the School about the candidates.

Then the Doctoral Board will award the post doctorate degree grant, after having discussed choice with the concerned research teams directors.
*Candidate deadline* : March 1, 2009

Vacancy at University of Paris 13

Possible opening for a Post Keynesian macroeconomics POST-DOC (1 year). The duration will be 1 year and the salary around 2000 euros net a month (including social security). Contact Dany Lang ( ). 

Earlham College

Job Announcement for a one year full time visiting faculty position in Economics at Earlham College

Earlham College, a national liberal arts College of 1200 students that emphasizes quality teaching, seeks a visiting assistant professor in economics to teach full time for the 2009-2010 academic year. The teaching load is two 4 credit hour courses and one 2 credit hour topical seminar per semester. We seek a colleague who is interested in teaching Economics as a liberal arts discipline and who can teach a range of courses, from basic theory to special topics. The fields are open and we encourage applicants versed in diverse methods.

Specify in your application letter what elective courses you have taught recently or would be able to prepare. The topical seminar courses should reflect your interests and help students delve into a topic in economics.

Earlham is affiliated with the Society of Friends (Quakers), is an AA/EOE employer and eagerly solicits applications from African Americans and other ethnic minorities, women, and Quakers.

Send Letter of Interest that addresses your interests and qualifications, a c.v., and contact information for three references (but NOT letters yet). Opening subject to final budgetary approval.

Please Send Hardcopies to:

Cheri Gaddis, Economics Search
Earlham College
801 National Road West
Richmond, IN 47374


Heterodox Conference Papers and Reports and Articles

Levy Papers

Strategic Analysis, December 2008
Prospects for the United States and the World: A Crisis That Conventional Remedies Cannot Resolve
Wynne Godley, Dimitri B. Papadimitriou, and Gennaro Zezza
Using the Levy Institute’s macro model of the U.S. economy, the authors conclude that the world’s economies will not be able to achieve balanced growth and full employment unless the associated institutions replace their total reliance on market forces with an entirely new framework. They note that their previous (contrarian) forecasts and remedies were ahead of the curve: that is, unsustainable imbalances in the U.S. economy would require a large fiscal stimulus, a rise in net exports, and depreciation of the dollar; and both lending and private expenditure relative to income would collapse, leading to a recession in 2008.
The authors expect that the (negative) change in the flow of net lending will continue for some time, and that the unprecedented drop in interest rates may not be effective in reactivating standard lending practices. They foresee a steep fall in both the private sector balance and GDP, with unemployment rising to 10 percent in 2010. The virtual collapse of private spending will make it impossible to apply a fiscal and monetary stimulus large enough to return output and unemployment to tolerable levels within the next two years.
>> Read complete text (pdf)

Strategic Analysis, January 2009
Flow of Funds Figures Show the Largest Drop in Household Borrowing in the Last 40 Years
Gennaro Zezza
Research Scholar Gennaro Zezza reviews the latest Federal Reserve flow-of-funds data and finds a steeper drop in borrowing than previous projections in April 2008. While the last two recessions saw a marked fall-off in business borrowing and minor consequences for households, the current recession’s drop in credit is having a greater effect on household finances.
Although mortgage debt has fallen sharply, household debt remains very large relative to income. As a result, we can expect a further decline in borrowing, which will immediately lead to a drop in private expenditures. The delayed effects may cause a substantial decline in real GDP and a substantial rise in unemployment (see December 2008 Strategic Analysis).
>> Read complete text (pdf)

Working Paper No. 552 Hypothetical Integration in a Social Accounting Matrix and Fixed-price Multiplier Analysis
Kijong Kim
In 2004, the South African government initiated a direct job creation initiative—the Expanded Public Works Programme (EPWP). Research Scholar Kijong Kim shows how to incorporate a new hypothetical sector such as EPWP into a social accounting matrix (SAM) in order to accurately capture the impact of the program and its proposed expansion in terms of sectoral development, job creation, and poverty reduction.
In the case of South Africa, the modification of the SAM lifts the aggregate income of poor and ultrapoor households in response to EPWP job targeting. Without reformulation of the SAM, the multiplier analysis would underestimate the effect of the public works program on income distribution and poverty reduction. The author shows that fixed multiplier analysis using a SAM can articulate any multiplicative effects of economic policy instruments and provide valuable insights to policymakers.
>> Read complete text (pdf)

Working Paper No. 553 Insuring Against Private Capital Flows: Is It Worth the Premium? What Are the Alternatives?
Jörg Bibow
The “global capital flows paradox” refers to the fact that the developing world is both a hoarder of reserves, in the form of U.S. Treasury securities, and a net capital exporter to rich countries. Research Associate Jörg Bibow argues that the breakdown of the Bretton Woods system in the early 1970s did not fundamentally change the hegemonic position of the U.S. dollar or the lead role of the U.S. economy as the driver of global demand. Contrary to expectations, Bretton Woods II is unlikely to get back on track anytime soon, so there is the possibility that consumer retrenchment in the United States could pose a serious threat to global stability.
Bibow investigates the opportunity costs of self-insuring by accumulating foreign reserves, and rejects the idea that these reserves represent low-cost protection against the vagaries of global finance. Rather, the risks offer no rewards to developing countries because financial globalization is a handy device for rent extraction. He proposes comprehensive capital account management as an alternative to liberalization in order to maintain sufficient macro policy space and to ensure that foreign direct investment complements a country’s development strategy.
>> Read complete text (pdf)

Winter 2009 Summary
Vol. 18. No. 1
The Summary, published three times a year, is aimed primarily at an academic audience. It updates current Levy Institute research, with synopses of new publications, special features on continuing research projects, accounts of professional presentations by the research staff, and an overview of Levy Institute events.
In this issue, Levy scholars foresee an extended period of stagnation and possibly deflation if the government does not take a more active role in terms of fiscal policy, direct homeowner relief, and regulatory system reform.
>> Read complete text (pdf)  

Petroleum and Energy Policy in Iran

Cyrus Bina, "Petroleum and Energy Policy in Iran," Economic & Political Weekly, Vol. 44 (1), January 3, 2009.

Click here to download the paper.

Post Keynesian Economics

Stockhammer, E., Ramskogler, P.: Post Keynesian economics - how to move forward, Department of Economics Working Papers, 14/2008, Vienna University of Economics and Business Administration:

An Introduction to the Economics of Abundance

Brendan Sheehan, An Introduction to the Economics of Abundance

Click here to download the paper.

The Role Of Markets In The System Of Abundance

Brendan Sheehan The Role Of Markets In The System Of Abundance

Click here to download the paper.


by Edwin Le Heron, SPIRIT – Sciences Po Bordeaux – CNRS UMR 5116

Click here to download the paper.


Heterodox Journals and Newsletters


Volume 60, Issue 1, 2009.

Online ISSN: 1467-999X
Print ISSN: 0026-1386

Pages: 1-23

Pages: 24-53

Pages: 54-76

Pages: 77-90

Pages: 91-118

Pages: 119-149

Pages: 150-161

Pages: 162-178
Dong-Min Rieu

Pages: 179-196
Pages: 197-223

Friends of Associative Economics Bulletin

January 2009
The new look bulletin offers a means to befriend associative economics by finding out what is going on, contributing to research, undertaking a diploma, attending an event, subscribing to the journal, signing up for the guarantee mark.

The format remains concise; links to websites are given where more information is available. In-depth analysis is provided in Associate!, our journal (now in its 28th year of existence), which has been renamed to reflect the need for one's will to become active. Both hard-copy and electronic versions can be subscribed to online:

1) EVENTS 2009
- Making Credit Less Crunchy: 12 Feb & 19 Mar / Rudolf Steiner House, London
- The Colours of Money: 20-22 February / Viroqua, USA
- Inner and Outer Aspects of Associative Economics: 27 Feb - 1 Mar / Auckland, New Zealand. 13-15 March / Melbourne, Australia
- The Colours of Money: 3-5 April / Stroud, England

2) Associate! SEA CHANGE - JAN 09
Lead: Egonomy is not Economy: Towards sustainable economics. Marc Desaules
A Sign of Our Time: Keynes and Hicks; Steiner and Who? Editors
Feature: Overcoming Money Monopoly: The Quest for Nonpolitical Money. E C Riegel
Archive: Money and the State. Rudolf Steiner
21 Policies: Review
Glossary: Virtue
Friends Page: Bookkeeping and LETS
AE Hero: Six Projects - Deep Accounting / Youth Financial Literacy / The Role of the Corporation and the Future of Not-for-profits / Prospects for a World Currency / Financing Education / The Economics of Farming
Accounting Corner: It's Not Just About Money. Stephen Torr
The Friends of Associative Economics Bulletin provides an overview of what is going on around the world in the associative economics movement. The bulletin is viewable as a webpage,

International Review of Applied Economics

Volume 23 Issue 1  is now available online at informaworld ( ).

This new issue contains the following articles:

Labour market effects of public capital stock: evidence for the Spanish private sector, Pages 1 - 18
Authors: Xavier Raurich; Hector Sala; Valeri Sorolla

Effects of European integration on Austria’s economy, Pages 19 - 40
Author: Engelbert Stockhammer

The endogeneity of the natural rate of growth – an empirical study for Latin-American countries, Pages 41 - 53
Author: Lena Vogel

Synchronisation and staggering of interest rate change by UK financial services firms, Pages 55 - 69
Author: John K. Ashton

Product mix, transactions and cost behaviour: a study of South African bank branches, Pages 71 - 88
Author: Charles C. Okeahalam

Spatial disaggregation patterns and structural determinants of job flows: an empirical analysis, Pages 89 - 111
Authors: Elena Cefis; Roberto Gabriele


Heterodox Books and Book Series

Understanding Keynes' General Theory

By Brendan Sheehan 
The General Theory of Employment, Interest and Money is the pinnacle of the intellectual achievements of John Maynard Keynes, and certainly his most well-known work. The General Theory was central to economic thought for much of the second half of the twentieth century, and continues to have great relevance in the twenty-first. However, for many students coming to the book for the first time, the General Theory can be a difficult text to fully grasp on an initial reading.

This book is a comprehensive guide for those seeking to fully understand the General Theory, and especially those approaching Keynes’ seminal work for the first time. It provides a wide-ranging overview of the work, covering both the familiar and lesser-known elements, and sets it amongst Keynes’ other writings so that key ideas can be set within a wider context. The book also highlights Keynes’ important policy insights and includes key background details which further illuminate Keynes’ work. The General Theory is essential reading for any economics student or scholar, and this book is an essential introduction to Keynes’ most influential text.

Re-reading Marx

New Perspectives after the Critical Edition
Edited by Riccardo Bellofiore and Roberto Fineschi

Palgrave Macmillan
256 pages

The new historical and critical edition of the works of Marx and Engels, the second Marx-Engels-Gesamtausgabe (MEGA2), opens up the possibility of a radical rethinking of the entirety of Marx’s thought. Marx has been read primarily through Engels’ spectacles. Now, with the publication of the entire corpus of Marxian manuscripts, it is now possible to read Marx according to Marx. This has rejuvenated debate and shed new light on Marx’s original intentions.This important collection assesses the relevance of the historical and critical edition, includes analysis, by leading scholars, of specific themes in the Marxian critique of political economy using the new material available, and provides an overview of the German debate in Marxian theory in recent decades. This detailed and fascinating book is essential reading for all seeking the best in contemporary Marxian analysis and theory.

Introduction; R.Bellofiore & R.Fineschi
New Perspectives Opened by the Publication of Marx’s Manuscripts of Capital, Vol. II; R.Hecker
Karl Marx’s Original Manuscripts in the Marx-Engels-Gesamtausgabe
(MEGA): Another View on Capital;R.Roth
Dialectic of the Commodity and its Exposition: The German Debate in the 70s: a Personal Survey;R.Fineschi
Reconstuction or Deconstruction? Methodological Controversies about Value and Capital and New Insights from the Critical Edition; M.Heinrich
The Limits and Uncertainties of Historical Materialism: An Appraisal Based on the Text of Grundrisse(Notebooks III, IV and V); R.Finelli
The Chapters on Machinery in the 1861-63 Manuscripts; T.Smith
The Development of Marx’s Theory of the Distribution of Surplus-Value in the Manuscripts of 1861-63;F.Moseley
The Possessive Spirit of Capital: Subsumption/Inversion/Contradiction;
The Place of ‘The Results of the Immediate Production Process’ in Capital; P.Murray
A Ghost Turning into a Vampire. The Concept of Capital and Living Labour; R.Bellofiore
From History of Capital to History in Capital; M.Tomba
Marx’s General Rate of Profit Transformation: Methodological and Theoretical Obstacles. An Appraisal Based on the 1864-65 Manuscript of
Das Kapital III; G.Reuten

RICCARDO BELLOFIORE is Professor of Economics at the University of Bergamo, Italy. He has edited Marxian Economics: A Reappraisal, Global Money, Capital Restructuring and the Changing Patterns of Labour, two volumes on Hyman Minsky’s economics (with Piero Ferri) Financial Keynesianism and Market Instability and Financial Fragility and Investment in the Capitalist Economy and The Constitution of Capital: Essays on Volume I of Marx’s Capital (with Nicola Tayor). He is a member of the International Symposium on Marxian Theory.

ROBERTO FINESCHI studied Philosophy and Political Economy in Siena, Berlin and Palermo. He won the Rjazanov-Prize for young scholars for the most valuable research in Marxian Theory. He has published three books: Ripartire da Marx, Marx e Hegel and Un nuovo Marx and several essays in English, French, German, Italian and Japanese. He is editor of a new Italian edition of Capital: Book I, after the new critical edition. He is a member of the editorial board of the Italian Marx and Engels Collected Works and the International Symposium on Marxian Theory.

Beyond the World Bank Agenda: An Institutional Approach to Development

By Howard Stein, Center for Afroamerican and African Studies, University of Michigan
Published by University of Chicago Press, September, 2008
Cloth $45.00-- ISBN: 978-0-226-77167-0

The crisis we are witnessing today in the global economy is not unlike what we have seen in poor developing countries for decades under the watch of the World Bank and IMF. The same body of economic theory that has driven changes that have led to the current financial crisis has also been behind the policies the World Bank has imposed on Africa, Latin America and other regions since 1980. The volume examines the evolution of economic policy in the World Bank focusing on how economists became hegemonic in the Bank, how economic policy evolved over time and how the shifting policy strategies reflected the changing nature of the Bank’s theoretical understanding of economic development and underdevelopment. It is argued that part of the problem with Bank policies, as economists increasingly dominated the policy branch of the agency, was the ever-narrowing of the economics profession and its growing a-institutionalism. Yet, transforming institutions is at the central core of development. When the Bank began to use institutional theory it problematically drew on the neo-classical or new institutional economic variant (NIE) and used it to buttress rather than to rethink the same orthodox agenda. The book generates an alternative approach building on the work of Gunnar Myrdal the last economist to systematically apply original institutional economic theory (OIE) to development. It also draws on 40 years of new research in organizational theory, sociology, social psychology and institutional and behavioral economics. The volume provides chapter length criticisms of the theory under the Bank’s policy strategies in three important sectors, finance, state formation and health care and generates alternative strategies based on an OIE approach. Most of the empirical work in the volume is from data from sub-Saharan Africa. However, examples from Asia, Latin America and the transitional countries of East and Central Europe are also incorporated into the book.
Click here for detailed information.

Institutional Economics and Psychoanalysis

Institutional Economics and Psychoanalysis: How Can They Collaborate for a Better Understanding of Individual-Society Dynamics?
By Arturo Hermann
Trento, Italy, UNI Service, January 2009.

The Metaphysics of Capitalism

By Andrea Micocci (with a preface by Giuseppe Limone)
"A strikingly new analysis of our economic and social system and its means of functioning brings the author to the very core of it, claiming that the whole structure of our society is nothing else but a flawed, dialectical intellectual mode… Andrea Micocci manages to use his deep knowledge of various subjects and vast erudition skillfully: instead of making them a burden on the reader, he uses them to create the needed suspense, pushing us to devour page after page. The Metaphysics of Capitalism is undoubtedly a timely book."— Mino Vianello, University of Rome
"Andrea Micocci reinterprets materialist philosophy and Marxist critique of political economy in a provocative synthesis that commands the most serious attention from anyone worried about the increasingly disastrous world capitalism has made."—Alex Callinicos, King's College London
Micocci argues that capitalism can be conceptualized as a limited and limiting socialized mode of thought, an intellectuality whose dialectical features are effectively identified by using the proxy of political economy, both marxist and mainstream. Political economy, a representative instance of dialectical thinking, mirrors the dialectical nature of capitalist economic andpolitical relationships. According to Micocci, non-dialectical occurrences in capitalism are simply excluded from normal social, economic, and intellectual activities, which are performed
in a metaphysical, intellectually isolated environment. Micocci describes capitalism as an intellectually constructed culture (a metaphysics) which preserves itself, and props itself up, by means of its iterative (market-like) functioning. Andrea Micocci is professor of economics at the University of Malta, Link Campus, and teaches political philosophy at the Jean Monnet Faculty of Seconda Università di Napoli (SUN), San Leucio.
Table of Contents: Foreword • Preface by Giuseppe Limone • Acknowledgments • 1. Outline
of an Intellectual Monster • 2. The Anti-Hegelian Argument • 3. Political Economy of
Capitalism • 4. The Iterative Character of Capitalism • 5. Capitalism's Politeia • 6. Capitalism
vs. Individuality • 7. Like Cut Flowers
$75.00 • Cloth • 0-7391-2837-X | 978-0-7391-2837-4 • December 2008 • 274 pp

History of Economic Thought and Methodology eBooks

The Routledge Economics, Business and Management eBooks Archive and Subscription Package offers free access to over 1,600 backlist titles, plus around 160 new books per year.
For your convenience, we have also broken down our complete package into 16 recent backlist sub-packages so you only pay for the eBooks you need.
There are 155 eBooks available in the History of Economic Thought and Methodology sub-package. For more information, please contact us using the details below.
The three titles below offer a taster of the quality of titles available:

The Science of Wealth
Tony Aspromourgos
This volume clarifies the character and fundamental structures of 'political economy' as an intellectual discipline in the texts of Adam Smith and will be vital reading for historians of economic thought and philosophers of social science.
Click here to view sample pages
Master eBook ISBN13: 978-0-203-88957-2
No of pages: 416
Originally Published: 18 Sep 2008

David Hume's Political Economy
Editors: Margaret Schabas and Carl Wennerlind
This collection of twelve new essays by distinguished scholars in the fields of history and the philosophy of economics is one of the first book-length studies of Hume's political economy.
Click here to view sample pages
Master eBook ISBN13: 978-0-203-32447-9
No of pages: 392
Originally Published: 20 Dec 2004

At the origins of Mathematical Economics
Richard van Den Berg
This pioneering new book examines the life and work of Achille Nicolas Isnard. It illuminates his major contributions to political economy and contains substantial extracts from a number of his publications in French and English.
Click here to view sample pages
Master eBook ISBN13: 978-0-203-61758-8
No of pages: 482
Originally Published: 15 Dec 2005
For more information, please contact us using the details below to discuss your specific eBooks needs.

Best wishes,
The Taylor & Francis Online Team

UK/Rest of World
Taylor & Francis Reference Online
2 Park Square, Milton Park,
Abingdon, OXON,
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North and South America

Taylor & Francis Reference Online
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Fax: 212-244-1563

Radical Economics and Labour

Edited by Frederic Lee, Jon Bekken 
Price: $140.00
- ISBN: 978-0-415-77723-0
- Binding: Hardback
- Published by: Routledge
- Publication Date: 23rd January 2009
- Pages: 208
About the Book
To celebrate the centenary of the most radical union in North America - The Industrial Workers of the World - this collection examines radical economics and the labor movement in the 20th Century. The union advocates direct action to raise wages and increase job control, and it envisions the eventual abolition of capitalism and the wage system through the general strike.
The contributors to this volume speak both to economists and to those in the labor movement, and point to fruitful ways in which these radical heterodox traditions have engaged and continue to engage each other and with the labor movement. In view of the current crisis of organized labor and the beleaguered state of the working class—phenomena which are global in scope—the book is both timely and important. Representing a significant contribution to the non-mainstream literature on labor economics, the book reactivates a marginalized analytical tradition which can shed a great deal of light on the origins and evolution of the difficulties confronting workers throughout the world.
This volume will be of most interest to students and scholars of heterodox economics, those involved with or researching The Industrial Workers of the World, as well as anyone interested in the more radical side of unions, anarchism and labor organizations in an economic context.
Table of Contents
Iv Notes on Contributors: x Introduction. Radical Economics and the Labor Movement by Frederic S. Lee and Jon Bekken: 1 Chapter 1. Senex’s Letters on Associated Labour and the Pioneer, 1834: A Syndicalist Political Economy in the Making by Noel Thompson: 40 Chapter 2. Peter Kropotkin’s Anarchist Economics for a New Society by Jon Bekken: 79 Chapter 3. Some Notes on Anarchist Economic Thought by Mathew Forstater: 98 Chapter 4. The Economics of the Industrial Workers of the World: Job Control and Revolution by Frederic S. Lee: 142 Chapter 5. Economic Science and the Left: Thoughts on Sraffa’s Equations and the Efficacy of Organized Labor by Tony Aspromourgos: 179 Chapter 6. John Kenneth Galbraith’s New Industrial State 40 Years Later: A Radical Perspective by Spencer Pack: 216 Chapter 7. A Radical Critique and Alternative to U.S. Industrial Relations Theory and Practice by Richard McIntyre and Michael Hillard: 284 Chapter 8. Labor during Transition: A Radical Institutional Approach by John Marangos: 317 Chapter 9. Offshore Production and Global Labor Arbitrage: A New Era of Capitalism? by Claude Pottier: 345 Chapter 10. Financialization, Employability and their Impacts on the Bank Workers’ Union Movement in Brazil (1994-2004) by Maria Alejandra Caporale Madi, José Ricardo Barbosa Gonçalves and José Dari Krein
About the Author(s)
Frederic S. Lee is Professor of Economics at University of Missouri-Kansas City, USA and Jon Bekken is an Associate Professor of Communications at Albright College, USA and former General Secretary-Treasurer of the Industrial Workers of the World.


Heterodox Book Reviews

L’économie morale, pauvreté, crédit et confiance dans l’Europe préindustrielle

Laurence Fontaine, _L’économie morale, pauvreté, crédit et confiance dans l’Europe préindustrielle_. Paris: Gallimard, 2008. 439 pp, €20 (paperback), ISBN: 978-2-0707-8577-3.

Reviewed for EH.NET by Pierre-Cyrille Hautcoeur, Ecole des Hautes Etudes en Sciences Sociales and Paris School of Economics.
Click here to download the review.

Genres of the Credit Economy

Mary Poovey, _Genres of the Credit Economy: Mediating Value in Eighteenth- and Nineteenth-Century Britain_. Chicago: University of Chicago Press, 2008. x + 511 pp. $59 (cloth), ISBN: 978-0-226-67532-9.

Reviewed for EH.NET by David Mitch, Department of Economics, University of Maryland –- Baltimore County.
Click here to download the review.


Heterodox Graduate Program and PhD Scholarships

City University London

The City University Research Fellowships and Research Studentships are currently being advertised. There are 4 fellowship positions and 10 doctoral studentships available for 2009-10.

Fellowships:  (Closing date for applicants 16 February 2009)

Studentships: ( Closing date for applicants 2 March 2009)

Anyone interested in a postdoc or PhD working with me should get in touch. I emphasise that they should contact me first, rather than simply applying. Internal support is vital to the success of applications.

Do please pass this on to potentially interested candidates. Deadlines are already close.

Andy Denis
Director of Undergraduate Studies
Economics Department
City University London
London EC1V 0HB
+44 (0)20 7040 0257   

PhD Studentship

Assessing the Role of Structural Drivers in the HIV/AIDS Pandemic: A Case Study of the Link Between Socio-Economic Indicators and Prevalence Patterns
Supervisor: Dr Deborah Johnston, Department of Economics (SOAS)
Co-Supervisor: Dr Justin Parkhurst, Health Policy Unit (LSHTM)
UNAIDS estimates three out of four HIV/AIDS deaths occur in sub Saharan Africa. Many prevention activities, such as education and subsidized condom access, assume that HIV transmission is driven by poverty and ignorance. However, population-based studies of HIV prevalence often find that prevalence increases with both wealth and education. The Tanzanian HIV/AIDS Indicator Survey 2003-2004 (THIS) found the poorest 20% of households had a prevalence rate of 3.4%, while the richest 20% had one of 10.5%. However, surveys of HIV/AIDS prevalence are not large in number, are often limited in terms of the socio-economic data they include and have also been subject to relatively little scrutiny.
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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. For further information about the project and queries about reviewing, contact Fred Lee ( ).

Rhetoric vs Realism in Economic Methodology

Peter, F. (2001), ‘Rhetoric vs realism in economic methodology: a critical assessment of recent contributions, Cambridge Journal of Economics, September, 25(5): 571-89. Reviewed by Lynne Chester, Curtin University, Australia
Click here to download the review.


For Your Information

PERI – Political Economy Research Institute

Progressive Economists' Statement on Economic Recovery and Financial Reconstruction
The Obama administration and Congress will soon be debating plans to revive the U.S. economy. To contribute to this debate, the progressive economists who recently issued "Principles For Economic Recovery And Financial Reconstruction From Progressive Economists," now add a more complete statement: "Progressive Program for Economic Recovery and Financial Reconstruction."
These documents argue that a successful economic program must reject the policies that contributed to the current economic crisis. Instead, the program develops an set of initiatives that include: 1) a fiscal expansion program centered on aiding state and local governments, keeping people in their homes, creating green jobs and public infrastructure, protecting key industries and instituting government employer of last resort programs; 2) economic policies to end extreme inequality and restore power to labor, households and communities; 3) programs to reconstruct, regulate and manage financial institutions to serve people's needs and contribute to financial stability; 4) international financial coordination to make the transition to more balanced global growth; and 5) a set of Congressional hearings on restructuring the financial system.
Download "Progressive Program for Economic Recovery and Financial Reconstruction"
Download "Principles For Economic Recovery And Financial Reconstruction From Progressive Economists"
Add your name to the lists of signatories

ESSAY: Dan Hind on the Financial Crisis

Many explanations have been offered for the current economic crisis – regulatory failure did it, or President Carter, or sub-prime lending, or Alan Greenspan. Maybe we all did it. Dan Hind, author of The Threat to Reason: How the Enlightenment was Hijacked and How We Can Reclaim It, points out the problems with the stories most often offered by journalists, politicians and broadcasters. And he offers an alternative reading of the crisis that draws on the work of Richard Wolff, Graham Turner, Richard Stiglitz and others to provide the best brief account yet of what has really been going on in the global economy. It’s 10,000 words long, and it is sensitively entitled Jump! You Fuckers! 

You can download it from the Verso website here:

Tribute to John Cornwall By Mark Setterfield

It was just over twenty years ago, in August 1988, that I first arrived in Halifax and met John Cornwall. A year earlier in the spring of 1987, I had written to him – and to numerous others around the world associated with the Cambridge tradition in economics – hoping to find a dissertation advisor willing to help me to pursue my interests in macrodynamics. Like all students of this tradition, I wanted to write about the laws of motion of capitalism (what else?!) John’s reply was by far the most encouraging and enthusiastic response that I received, and I quickly became convinced that my future lay, under his supervision, at Dalhousie.

Click here to download the paper.

PhD Comics

PhD Comics

¿Somos todos keynesianos?

El autor plantea que la supuesta euforia keynesiana en respuesta a la crisis no puede ocultar su corazón ortodoxo. Las contradicciones, en la Argentina y en los países centrales.
Por Fabian Amico *
¿Somos todos keynesianos? ¿Vuelve Keynes? Parece evidente en estos tiempos de crisis doméstica e internacional. Cuando en 1971 Nixon dijo: “Ahora somos todos keynesianos”, la frase tenía un cierto sentido. Hoy es dudosa y ambigua. Stiglitz repitió hace poco que “ahora somos todos keynesianos, incluso la derecha en Estados Unidos se sumó al bando keynesiano con un entusiasmo desenfrenado”. Pero el propio Stiglitz sucumbe a la tradición keynesiana “bastarda” cuando se preocupa por el déficit fiscal. Propone: “Bajarles los impuestos a los pobres y aumentar los beneficios de desempleo, al mismo tiempo que se aumentan los impuestos a los ricos puede estimular la economía, reducir el déficit y disminuir la desigualdad”. Siempre la preocupación por el déficit. ¿Será keynesiana tal preocupación?
Esto forma parte de una tendencia más reciente, donde Keynes y Friedman ya no se oponen sino que “interactúan”: el Estado interviene en el plano fiscal (Keynes dixit) y la política monetaria se encuentra en manos “independientes” (Friedman dixit). Por caso, Nixon tenía a Friedman como asesor, y el mismo Milton llegó a decir: “Ahora somos todos keynesianos”, aunque más tarde aclaró: “En un sentido, ahora somos todos keynesianos; en otro, ya nadie es keynesiano”. Digamos: keynesianos retóricos, aunque no keynesianos sustanciales.
Entonces, ¿”somos todos keynesianos”? La respuesta positiva parece otra vez evidente con las masivas intervenciones estatales que abundan en la crisis. Sería, se dice, un keynesianismo “forzoso”. Pero el keynesianismo queda así desdibujado en cualquier tipo de intervención estatal. En esta confusión hay una que resulta fundante: aquella que sostiene que para crecer hace falta “ahorro previo”, invirtiendo la causalidad correcta según la cual la inversión es la que determina el ahorro (y no al revés), con lo cual lo mejor de Keynes se pierde por completo. En esta línea, en el centro de las recomendaciones keynesianas (aunque el “keynesianismo” no se agote en ello) está la propuesta de estimular la demanda efectiva por medio del gasto público deficitario.
¿Qué dicen los “keynesianos” al respecto? El panorama es confuso. El propio Stiglitz defendió, en tiempos de Clinton, una suerte de “contracción fiscal expansionista”, donde la reducción del déficit público resultaría (vía expectativas o por una dudosa relación inversa entre tasa de interés e inversión) en una menor tasa de interés y en un alza de la inversión. Luego se reveló que tal “contracción fiscal expansionista” no se produjo. La expansión de los tiempos de Clinton pareció obedecer al sesgo expansivo de la política monetaria y al intento de mantener viva la burbuja accionaria. Merced a tal política monetaria los gastos privados crecieron lo suficiente para más que compensar los efectos contractivos de la política fiscal. El propio Paul Krugman (“Deficits and the Future”, The New York Times, 1/12/2008), reciente Premio Nobel y considerado un “keynesiano” más, festejaba tales superávit de los tiempos de Clinton, porque pensaba –como Stiglitz– que eso estimularía la inversión privada. ¿Y en la Argentina? ¿Somos todos keynesianos? Aquí, la promesa de un mayor gasto público, como en el anunciado plan de obras del Gobierno destinado a estimular la economía, recibe críticas instantáneas y diagnósticos sombríos de “insustentabilidad”, destilando que tras tal intento se escondería en verdad una concepción populista, irresponsable, etcétera. Con aires de suficiencia y seriedad, la sentencia se pronuncia bajo la forma de una pregunta cuasi retórica: “¿Hay billetera para hacer políticas keynesianas?”. Se responde: “Muchos dudan de que el Estado cuente con el presupuesto necesario para afrontar tal gasto...”. Impera aquí la lógica de Doña Rosa, es decir, la racionalidad de una economía familiar. Pero el tamaño del gasto público, e incluso del déficit público, no tiene nada que ver con esta racionalidad pre-keynesiana, según la cual cuando uno gana 1000 su gasto no puede ser 1500. Desde Keynes y Kalecki se sabe que esta lógica, aplicada a la economía en su conjunto, es errónea. Resulta obvio que si la economía se desacelera (existe capacidad ociosa y desempleo) no sólo es factible sino deseable “recaudar 1000 y gastar 1500”. Hay algo incluso previo a esto, y es la verdadera naturaleza de la relación entre gasto público e impuestos.
Contablemente, los ingresos del Estado representan flujos de fondos desde el sector privado hacia el Tesoro. Tales flujos reducen la cantidad de dinero disponible en la economía. Análogamente, todo gasto público representa un flujo de fondos desde el Tesoro hacia el sector privado y significa un aumento de la cantidad de dinero. El gobierno intenta así coordinar sus ingresos y gastos para mantener un nivel adecuado de liquidez en la economía (el asunto es complejo). Al inicio del ejercicio fiscal, cuando se decide el presupuesto y el gobierno compromete en alguna forma precisa sus gastos, los impuestos aún no han sido recaudados. No podrían ser recaudados al principio del ejercicio, puesto que los ingresos de los cuales se detraen no han sido aún distribuidos. Como resultado, los impuestos son en verdad una renta contingente vinculada con la percepción de ingresos por parte de los agentes privados y sólo pueden ser determinados ex post.
Surge la pregunta: ¿cómo puede ser que un ingreso ex post financie una actividad económica ex ante? Obviamente esto es imposible. De allí la pertinencia de la explicación chartalista según la cual el dinero es una creación del Estado: en esta concepción, el dinero debe gastarse antes de ser recaudado como impuestos. Dado que los impuestos sólo pueden ser recaudados ex post, si el gobierno intentara financiar sus gastos con los impuestos (como sugiere la receta ortodoxa), el sector público se pararía por entero y no estaría disponible ningún bien y servicio. Para que el gobierno desarrolle sus actividades, basta con que el “brazo bancario” del gobierno pague los cheques emitidos por el “brazo fiscal” (el Tesoro).
Luego, esos cheques son depositados por el público en los bancos privados y más tarde se hace el cargo correspondiente en la cuenta del Tesoro en el BC, mientras que en las cuentas de los agentes privados en los bancos comerciales se realiza un depósito por el mismo importe. Sólo en esta etapa el Estado comienza a recaudar sus impuestos. Asimismo, es durante esta fase cuando se destruye el dinero y la “deuda” del Tesoro con el BC es liquidada pari passu con el reflujo del impuesto. Así, los impuestos son resultado del gasto precedente de las empresas, las familias y el Estado.
En este contexto, la noción de “financiación del déficit” resulta, en rigor, incorrecta. En realidad, el déficit presupuestario, diferencia contable entre gasto inicial e ingresos por impuestos del período corriente, no puede ser considerado más que como una identidad contable ex post que ya ha sido financiada. Así, a diferencia del sector privado, mientras exista un banco central que tenga capacidad de financiar los gastos del gobierno, el Estado no se regirá nunca por los criterios de solvencia que rigen para las empresas privadas. En la concepción ortodoxa de las finanzas “sanas”, en cambio, se afirma que los impuestos son la fuente principal de financiación del gobierno y que deben evitarse la “creación monetaria” y el recurso al crédito. Es la misma lógica de una economía familiar. Un Estado “grande” necesita así mayores impuestos, que vendrían a ser recursos sustraídos de otros usos privados (crowding out), como la inversión. Así, un Estado “chico” (mínimo) es requisito del crecimiento y el desarrollo.
Por eso los gobiernos de los países como la Argentina se abstienen de comprometer gastos públicos en proyectos de infraestructura o en planes sociales. Se aduce, como hoy, que no hay recursos fiscales para financiarlos. Esto ciertamente obstaculiza la recuperación y el crecimiento, y mantiene altos niveles de pobreza, no porque los impuestos sean necesariamente bajos sino porque los gastos del gobierno están arbitrariamente ligados a los impuestos, y por ende son comprimidos arbitrariamente.
El enfoque correcto es evaluar el gasto (déficit) público por su funcionalidad con relación al conjunto de la economía y especialmente a su nivel de empleo. Las finanzas funcionales de Abba Lerner y los desarrollos posteriores de William Vickrey (Premio Nobel de Economía 1996) brindan una medida adecuada del déficit público de plena capacidad. En este enfoque, una magnitud adecuada para el déficit público de plena capacidad debe alcanzar para compensar la suma del déficit externo en cuenta corriente percibido como sustentable o deseable con el superávit del sector privado (o sea, la diferencia entre ahorro privado e inversión privada), cuando la economía opera cerca de la plena capacidad. Cualquier déficit mayor será inflacionario y cualquier déficit menor será recesivo porque implica que la economía no podrá generar demanda suficiente para operar a plena capacidad, una vez satisfecha la restricción externa. En este contexto, resulta obvio que los ingresos fiscales resultan fuertemente procíclicos y que, por ende, el déficit público es endógeno.
Recientemente se señaló que los anuncios del gobierno estaban destinados a evitar que la economía muestre números negativos luego de años de fuerte crecimiento. Varias serían las medidas que apuntan a eso: el mega-plan de obras públicas, la eliminación de la tablita de Ganancias, los adicionales para jubilados y desocupados, el financiamiento barato para la compra de autos y electrodomésticos. “Pero todo –se objeta–, a la vez, cuesta dinero.” Aquí está el quid: el costo del dinero para el Estado es cercano a cero. Que los economistas ortodoxos sostengan que estas medidas keynesianas no son aplicables, que la reducción del nivel de gasto interno es inevitable y que las políticas de expansión del gasto “sólo agravarán el ajuste posterior”, es algo esperable. Pero la falta de convicción que se aprecia en algunos funcionarios oficiales, quienes se apuran a hacer números para “demostrar” que los recursos estarían disponibles, en tanto retacean el volumen de gasto necesario para estimular la economía, es algo peligroso. Por caso, no hace mucho el ministro Julio De Vido aseguró que con la reducción de los subsidios y el sinceramiento tarifario “se logrará la consolidación del superávit fiscal”, y que el aumento de tarifas (como el transporte y la luz) permitirá financiar parte del plan de obras públicas que anunció la Presidenta recientemente. Entonces la pregunta del comienzo se transforma en una duda mortal: ¿somos en verdad todos keynesianos?
* Economista del Grupo Luján e investigador de la UNLU.