htn header 2

Issue 83: May 28, 2009


From the Editor

Earlier this year the editor of the American Journal of Economics and Sociology, Professor Larry Moss, died. After a search for a new editor, the Journal’s Board appointed me as the new editor, effective 1 July 2009—click here for announcement. Continuing its intellectual tradition, I welcome any submissions that critically investigates the social provisioning process utilizing different theoretical and methodological approaches; that engage in critical analysis and empirical studies of current social-economic micro and macro policies affecting the social provisioning process; and that evaluate past and current intellectual arguments and disciplinary developments which had or currently have an impact on understanding and investigating the social provisioning process. Being editor of a journal means that I will have to reorganize my activities and commitments (see below with regard to ICAPE). In particular, I will have to give up my editorship of my Routledge Advances in Heterodox Economics book series—I am working on finding a replacement so that the book series can continue. In addition, doing both this Newsletter and being the editor of AJES may be too difficult to manage, which means that there will changes regarding the former. Only time will tell.

The content of the Newsletter is again quite remarkable for its diversity and activities, such as the Minksy String Quartet (see FYI). The conferences, seminars, papers books, and journals noted below span the broad interest of heterodox economists as well as brings them together. In this regard, the pending new book on Economics Pluralism, which is the conference volume from the last ICAPE conference, deserves attention. Finally, for those who are interested in issues of ranking journals, assessing research performances of departments, and the future of heterodox economics in Europe, you might want to participate in the University of Bremen workshop on Assessing Heterodox Economics in a European Context—see below for details.

Fred Lee

In this issue:
  Call for Papers
- Labour Underutilisation - Unemployment & Underemployment
- Capital as Power
- Global Financial Crisis
- 3rd International Research Workshop in Political Economy
- The 2nd Conference of the International Forum for Contemporary Chinese Studies (IFCCS)
- JSPE 57th Annual Conference, 2009
- Growth, Trade and Economic Development: Theory and Evidence
- International Journal of Trade and Global Markets
- Research on Money and Finance Discussion Papers series
- RM2009: New Marxian Times
  Conferences, Seminars and Lectures
- Séminaire CEPN et MSH Paris Nor
- 2009 Summer Institute
- The Geopolitics of Global Energy
- The third History of Recent Economics (HISRECO) Conference
- 6th History of Economics as History of Social Science Workshop
- Politique monétaire, règles de taux d'intérêt et fonctionnement du marché monétaire
- IIPPE’s International Research Workshop
- Cambridge Seminar in the History of Economic Analysis
- Assessing Heterodox Economics in a European Context
Job Postings for Heterodox Economists
  - The Oregon Center for Public Policy (OCPP)
- City University London
  Heterodox Conference Papers and Reports and Articles
  - GDAE Papers
- LEVY Papers
- GDAE launches reports at LASA in Rio
Heterodox Journals and Newsletters
  - Metroeconomica
- Review of Political Economy
- The Journal of Philosophical Economics
- Local Economy
- CASE Newsletter
  Heterodox Books and Book Series
  - The Political Economy of Consumer Behavior: Contesting Consumption
- ZED Books
- Unravelling Capitalism: A Guide To Marxist Political Economy
- Bankruptcies and Bailouts
- The Political Economy of Monetary Circuits
- Capital as Power: A Study of Order and Creorder
- Economic Pluralism
- The American Journal of Economics and Sociology Book Series
- Social Inequality, Analytical Egalitarianism and the March Towards Eugenic Explanations in the Social Sciences
- Henry George: Political Ideologue, Social Philosopher and Economic Theorist
- Ernest Mandel: A Rebel’s Dream Deferred
- Routledge Advances in Heterodox Economics Series
Heterodox Book Reviews
  - The Life and Times of Raúl Prebisch, 1901-1986
- Economics in Russia: Studies in Intellectual History
  Heterodox Web Sites and Associations
  - Hasan Gurak
International Confederation of Associations for Pluralism in Economics - News
  - ICAPE News
  For Your Information
  - The Minsky String Quartet
- Remarques préparées par Andrew Cornford pour l’occasion de la publication du livre de Professor Paul Dembinski
- Toxic Textbooks
- The 2009 Routledge–GCP&S Essay Prize
- La Continuidad teórica entre Marx y Sraffa
- Corporate Governance Network (CGN)
- eInsight
- Revolutions fought & refought?
- Robert Rowthorn interviewed by Alan Macfarlane 13th June 2008

Call for Papers

Labour Underutilisation - Unemployment & Underemployment

This year will be the first for some time that official unemployment rates will rise. The overall predictions are that there could be around a million people unemployed in Australia by year’s end. The underemployment rate will also rise.

The deadline for abstracts is Monday 13th July 2009. Please see our CofFee Conference website which details all relevant deadlines, available streams and formatting requirements for papers.

Click here for detailed information.

Capital as Power

The present global crisis opens the door for theoretical alternatives. The two main paradigms of capital accumulation – the neoclassical utility theory of value and the Marxist labour theory of value – are in disarray. Many leading neoclassicists now concede that their "world is broken" and that their utilitarian "pillars of faith" have collapsed. Marxists have been content to see these confessions, but they remain unable to offer a convincing alternative based on labour values. These failures call for a new theoretical, methodological and empirical framework for rethinking capitalist valuation and accumulation – a framework based not on utility or labour time, but on power.

We are calling for paper presentations to be organized in several related panels under the general heading of "Capital as Power." The papers can be theoretical, methodological or empirical, and they can examine any aspect of capital as power. The panels will be included as part of the upcoming "Rethinking Marxism" Conference, to be held on November 5-8, 2009, at the University of Amherst Massachusetts.

If you wish to present a paper on one of these panels, please write to Jonathan Nitzan ( ). The conference registration deadline is August 1, 2009. In order to set up our panels in a timely fashion, we request your proposal (title and a 200 word abstract) to be sent in to Nitzan by June 1, 2009.

Global Financial Crisis

Global Change, Peace & Security is a leading peer reviewed journal published by Routledge (UK) and based at La Trobe University, Victoria, Australia.
GCP&S calls for research articles analysing the nature, implications, and consequences of the Global Financial Crisis; a crisis which has sparked the most widespread and severe global recession since the 1930s.
We seek contributions from across the social sciences: particularly from international relations, political economy, and peace and conflict studies.
Global Change, Peace & Security is particularly interested in research exploring:
- The nature of the Global Financial Crisis and theoretical approaches to understanding the crisis within the international economic and political systems of the 21st century
- The impact of the Global Financial Crisis on ongoing international, regional and national conflicts and peace processes
- The consequences of the Global Financial Crisis for international power dynamics, global institutions, and systems of governance
Other perspectives on the Global Financial Crisis and its implications will be favourably received.
Contributions should be 6,000–10,000 words in length, comply with all requirements of the GCP&S style guidelines, and be emailed as an attachment (in Word, in English and with GFC in the subject heading) to:
By 27th of November 2009
Style guidelines are available from:  Global Change, Peace & Security also publishes shorter reflective pieces (4,000 words maximum), research reports, news commentaries and replies to research articles.
GCP&S also welcomes regular contributions within the scope of the journal.
For more information contact:
Dr Stephen James
Global Change, Peace & Security
Centre for Dialogue
La Trobe University
Tel: 61-3- 9479 1419
Global Change, Peace & Security is a scholarly journal that has, for over twenty years, addressed the difficult practical and theoretical questions posed by a rapidly globalising world. It is committed to promoting research that explores the relationships between states, economies, cultures and societies. For details, visit

3rd International Research Workshop in Political Economy

Call for Abstracts from Research/Graduate Students
Ankara, September 14th and 15th, 2009
IIPPE invites applications to its 3rd Annual Research Workshop in Ankara, Turkey on the 14-15th September 2009. The event is organised with the support of TSSA (Turkish Social Sciences Association) under the theme of “The Crisis, Interdisciplinarity and Alternatives”.
As with the previous two, highly successful workshops in Crete and Procida (near Naples), the workshop is intended to give research students the opportunity to share their research with one another and to benefit from selective inputs from more senior academics. Important networks have been created for IIPPE as well as its working groups both newly formed or consolidated.
Those interested in participating are invited to send a one-page abstract to  before the extended deadline of 30th May 2009 (with the subject: IIPPE 3rd Research Workshop). We aim to inform successful participants and attendees by 8th June. Participants are required to provide a written paper in advance, the deadline for delivery of which is the 14th August 2009.
IIPPE Working Groups are encouraged to put forward a collective proposal for a session (usually 3-4 papers) within the Workshop. Please submit such session proposals, indicating the names and titles of the session papers to  before the 30th May. Abstracts for these papers, and the papers themselves, should then be sent separately as above.
IIPPE is only able at most to cover basic accommodation and food costs for most workshop participants. We therefore strongly urge you to seek alternative sources of funding to cover the cost of travel and other expenses, including a workshop fee, if available. Please indicate whether you have such funding in place when sending your abstract to us.
For further information regarding the event please contact

The 2nd Conference of the International Forum for Contemporary Chinese Studies (IFCCS)

Beyond Revolution and Reforms: the People’s Republic Looks Forward at 60
7-9 September 2009, University of Nottingham, UK
School of Contemporary Chinese Studies (with its China Policy Institute and
Nottingham Confucius Institute), University of Nottingham
The Office of the Chinese Language Council International (HANBAN)
The Nature and Environment Research Council
The British Academy
The Leverhulme Centre for Research on Globalisation & Economic Policy (GEP)

Click here for detailed information.

JSPE 57th Annual Conference, 2009

The World Crisis of 2008 and the Future of Capitalism

To be held on November 22-23, 2009, at the University of Tokyo, Hongo Campus in Tokyo, Japan
The 57th annual conference of the JAPAN SOCIETY OF POLITICAL ECONOMY (JSPE) will be held on
November 22 (Sunday) and 23 (Monday), 2009, at the University of Tokyo, Hongo Campus in Tokyo. The theme of the plenary session is: The World Crisis of 2008 and the Future of Capitalism. In the last annual conference at Kyushu University in 2008, we focused on the global financial crisis caused by the subprime mortgage fiasco in the United States in 2007. We analysed the causes and risks of the subprime shock and discussed the financial situation just after the bankruptcy of Lehman Brothers on September 15, 2008. Through analysing this subprime mortgage crisis from multifaceted perspectives, we tried to clarify where global capitalism was now and where it was going.

Click here for detailed information.

Growth, Trade and Economic Development: Theory and Evidence

The School of Economics of the Instituto Politécnico Nacional at Mexico City is organising the second annual conference ‘Growth, Trade and Economic Development: Theory and Evidence’. I will appreciate you pass the call for papers, which is available in the link below, to colleagues and friends.,_September_2009.pdf 

International Journal of Trade and Global Markets


Guest Editor: Bruno Sergi & Aristidis P. Bitzenis

The International Journal of Trade and Global Markets is an international journal. IJTGM fosters discussion on the various interrelationships between economic growth at national and international levels and international trade. The journal will emphasise the implications that trade policy exerts on economic growth and vice versa, as well the role of national governments, international organisations and the business community on related issues of worldwide concern.
The objectives of IJTGM are to become a main source of analyses and perspectives on the issues of economics and trade in order to be an effective channel of communication between policy-makers, government agencies, academic and research institutions. It emphasises problems of international significance and offers important lessons for policy-makers and the wide audience which participates in the policy debate in such a way that it promotes and coordinates developments in the field of international trade and economic growth. The journal will emphasise national, regional, international and global realities.
IJTGM provides a vehicle to help professionals, leading professional economists, researchers and policy makers, working in the field of international economics, trade, and business.
The journal welcomes stimulating original articles that are clearly written and draw upon contemporary policy-related research. Preference on this special issue is given to:
FDI determinants and its impact on a political economy dimension
Impact of FDI on host and home countries
FDI and globalization
Privatization as a part of FDI and its impact on a host country
FDI and multinationals
FDI and European Economic Integration
FDI and European Union Enlargement
Trends of FDI under the new globalized worlds
FDI and migration
Trade and FDI as complements or substitutes
FDI, trade and Regional Integration (regional initiatives)
FDI as a foreign entry mode and its impact on the business environment
Prospects of the Westerns Balkans to become EU members

No submission fee is required. The deadline is on 1st of January 2010.

Papers will pass a double-blind referee process supervised and subject to the final approval of the guest Editors.
The International Journal of Trade and Global Markets also invites graduate students to submit research papers. Proof of graduate student status should be provided with the submission. While the students’ papers will go through the regular review process and be held to the same standards for acceptance as other submissions, the panel of reviewers will serve a mentoring role to advise the student to strengthen the paper.

Completed papers should be submitted as an email attachment to:

Dr. Bruno S. Sergi
University of Messina
DESMaS “V. Pareto"
Faculty of Political Science
Via T. Cannizzaro, 278
98122 Messina

Research on Money and Finance Discussion Papers series

We are pleased to announce the launch of the Research on Money and Finance Discussion Papers series, available at

The series invites discussion papers that may be in political economy, heterodox economics, and economic sociology. We welcome theoretical and empirical analysis without preference for particular topics. Our aim is to accumulate a body of work that provides insight into the development of contemporary capitalism. We also welcome literature reviews and critical analyses of mainstream economics provided they have a bearing on economic and social development. Submissions are refereed by a panel of three. Publication in the RMF series does not preclude submission to journals. However, authors are encouraged independently to check journal policy.

Best Regards,

Paulo L dos Santos
for Research on Money and Finance

RM2009: New Marxian Times

RETHINKING MARXISM: a journal of economics, culture & society is pleased to announce its 7th international conference, to be held at the University of Massachusetts in Amherst on 5-8 November 2009.

Click here for detailed information.


Conferences, Seminars and Lectures

Séminaire CEPN et MSH Paris Nor

Je vous signale cette conférence de Paris Nord organisé par B. Coriat où y sera développé une pensée hétérodoxe plus marxiste et institutionaliste.

Séminaire CEPN et MSH Paris Nord
Le retour de la pensée propriétaire dans le capitalisme contemporain et ses apories
28-29 mai 2009
A la MSH Paris Nord
(Plan d’accès : )

Comité d’Organisation :
Benjamin Coriat (CEPN, Université Paris 13), Fabienne Orsi (IRD- SE4S, UMR 912 et CEPN), Olivier Weinstein (CEPN, Université Paris 13).
Inscriptions obligatoires avant le 20 mai auprès de :
Chantale Darin :  ou Chantal Miry :
Voir Programme complet en fichier joint.

2009 Summer Institute

After the Economic Meltdown: Building a Solidarity Economy

World Fellowship Center, Conway, N.H.
July 12-17, 2009
Learn how the economy works and gain tools to make your activism more effective.
To get an idea of past Summer Institutes:

Click here for detailed information.

The Geopolitics of Global Energy

The Geopolitics of Global Energy: International Competition, Rivalry and Conflict An International Workshop on 28-29 May 2009, Birkbeck College, University of London

For further information and free registration please contact In recent years questions surrounding energy security have become the focus of international security and global politics. A number of issues have been central to these debates:
- the impact of high energy prices on economic development and political stability within states
- the dependence of industrialised states on sources of energy from unstable geopolitical zones
- the role of states in securing access to and control of energy resources
- the relationship between commercial energy producers and distributors to governments
- the geopolitical consequences of the increased leverage of energy producing states
- the international political and geopolitical consequences of the competition amongst states to secure access to and control of energy resources This workshop brings together a number of international specialists on energy security and geopolitics in order to shed further theoretical and empirical light on contemporary resource competition and rivalry, especially - though not exclusively - between the West and its Eurasian contenders. In particular the workshop will compare and contrast the strategies and policies of states in the Europe, the Americas, East Asia and Africa, as both producers and consumers of energy. It seeks, additionally, to explore with greater rigour and precision the meaning and purchase of the 'geopolitical' turn in contemporary international studies.

Mark BASSIN, University of Birmingham - 'Energy and the Geopolitics of Russian Neo-Imperialism'

Cyrus BINA, University of Minnesota, USA - 'Oil: The Geopolitics of Energy in the Epoch of Globalization'

Klaus DODDS, Royal Holloway, University of London - 'The Arctic in the Global Imagination: Geopolitics, Resources, and Environment'

Dominick JENKINS, formerly of Greenpeace, London - 'Churchill, Oil and the Royal Navy'

Ray KIELY, Queen Mary, University of London - 'Theories of Imperialism, Contemporary Geopolitics and the Rise of China'

Kees VAN DER PIJL, University of Sussex - 'The West, Georgia and Russia-Rearticulating Politics and Economics'

Gonzalo POZO-MARTIN, School of Slavonic and East-European Studies, University of London - 'Inflammable Politics: Russia, Ukraine and NATO Enlargement'

Sam RAPHAEL, University of Kingston - 'US Empire and the Control of Oil: Lessons from the Caspian Basin'

Doug STOKES, Senior Lecturer in International Relations, University of Kent - 'Unpacking the Logics of the US Global Oil Order'

Javier VADELL, Catholic University, Belo Horizonte, Minais Gerais, Brazil - 'The Chinese Economic Penetration of South America and the US Response'

Paris YEROS, Catholic University, Belo Horizonte, Minais Gerais, Brazil - 'Emergent (Sub) Imperialisms: The New Scramblers for Africa's Energy and Minerals'

The third History of Recent Economics (HISRECO) Conference

Attached please find the program of the third History of Recent Economics (HISRECO) conference, 11-13 June 2009, University of Antwerp, Belgium. For more information about the conference, please visit the conference website:

6th History of Economics as History of Social Science Workshop

6th History of economics as history of social science workshop to be held at ENS Cachan on 19 June 2009.

Jamie Cohen-Cole (Yale University)
American social science, social critique, and the problem of expertise 10:45-11:35am Perrin Selcer (University of Pennsylvania) The View from everywhere: Disciplining diversity in post-WWII international social science 11:35-11:55am Tea/coffe Break

Emily Hauptmann (Western Michigan University) The constitution of behavioralism: The Influence of the Ford Foundation's Program in Behavioral Sciences on political science 12:45-2:15pm Lunch

Tiago Mata (University of Amsterdam)
The evil economics does with special emphasis on the history of late 20th century economics 3:15-4:05pm Ross Emmett (Michigan State University) History of economics and history of science: A comparative look at recent work in the fields
to be held at ENS Cachan on 19 June 2009.

Politique monétaire, règles de taux d'intérêt et fonctionnement du marché monétaire

LEDa-SDFi (Université Paris Dauphine) et PHARE (Université Paris 1 Panthéon-Sorbonne)
organisent une journée d’étude
Politique monétaire, règles de taux d'intérêt et fonctionnement du marché monétaire
Monetary Policy, interest rate rules and the functioning of the Money Market
l’Université Paris Dauphine
Amphi 1
9 juin 2009

IIPPE’s International Research Workshop

Ankara, September 14th and 15th, 2009

IIPPE is delighted to announce that its third annual International Research Workshop will take place in Ankara from September 14th to 15th, at the Middle East Technical University, with the support of the TSSA (Turkish Social Sciences Association).

IIPPE was founded in 2006 aiming to strengthen the presence of political economy across the social sciences through critical and constructive engagement with mainstream economics, heterodox alternatives, interdisciplinarity, and activism.

Click here to for detailed information.

Cambridge Seminar in the History of Economic Analysis


4 June, 8.15pm

The Seminar meets regularly in each term at Clare Hall on Thursdays, with a presentation of around 30 minutes followed by discussion. The meetings are directed to scholars at all levels, including graduate and research students for whom the history of economic ideas is of interest. The Seminar’s fields of interest draw from pre-Enlightenment and Enlightenment ideas, classical political economy, the Cambridge tradition in political economy, issues in the epistemology of economics and economic philosophy, and the policy implications of economic theories.

The third meeting of Easter term is on Thursday 4 June 8.15pm in the college meeting room.

Adrian Pabst
(Leverhulme Research Fellow, University of Nottingham)

will speak on

A Divine Market Order? Adam Smith’s Theological Debt

According to many contemporary economists, philosophers and historians, the work of Adam Smith is primarily concerned with the moral foundations of economic activity and social existence. By promoting moral sentiments, the ‘invisible hand of the market’ is at the service of intellectual emancipation. This paper contends that these progressive readings ignore the influence of theological concepts and religious ideas on Smith, notably seventeenth and eighteenth century natural theology, Jansenist Augustinianism and arguments of theodicy. Taken together, these theological elements help explain why Smith views the market as divine regulation of human sinfulness and an instrument to serve God’s providential plans – an account that is incompatible with orthodox Christian ideas on both the common good in which all can share and public charity recommended for those most in need.

Discussion is followed by drinks and everyone is invited to stay and meet the speaker.

The Convenors

Visit our website at 
To inscribe/unsubscribe yourself to the mailing list, please send and email to 

Cambridge Group
in the History of Economic Analysis

Assessing Heterodox Economics in a European Context

A Workshop
Assessing Economic Research in a European Context: The Future of Heterodox Economics and Its Research in a Non-Pluralist Mainstream Environment
26 – 27 June 2009
University of Bremen, Germany, iino-Institute for Institutional and Innovation Economics
Click here for detailed information.


Job Postings for Heterodox Economists

The Oregon Center for Public Policy (OCPP)

Senior Policy Analyst
The Oregon Center for Public Policy (OCPP) is hiring a Senior Policy Analyst. We seek someone with strong quantitative and analytic skills and the ability to communicate information effectively to diverse audiences to join OCPP’s professional staff.

OCPP is an independent, nonprofit organization that conducts in-depth research and analysis on budget, tax, and economic issues. OCPP distributes its analysis to policymakers, organizations, and engaged Oregonians throughout the state. Our goal is to improve decision making and generate more opportunities for all Oregonians.

Click here for detailed information.

City University London

Senior Lecturer/Reader/Professor
School of Social Sciences, Department of Economics
Salary Negotiable
The Department of Economics seeks to appoint by January 2010 a Professor/Reader/Senior Lecturer to contribute to its growing academic reputation. The department has 18 full-time staff who research in finance, econometrics, industrial economics, microeconomics, macroeconomics, history of thought, health, international, labour and development economics. The 2008 Research Assessment Exercise judged its research as "internationally recognised" or better, with 10% judged "world leading". The department offers MSc degrees in financial, business, regulation and health economics and is planning additional ones in development and industrial economics. It has a growing PhD programme. For more information please contact Saqib Jafarey, Head of Department ( ).
The successful candidate will be responsible for undertaking high-quality research aimed at publication in leading academic journals; for providing excellent teaching and research supervision to both undergraduate and postgraduate students; for being the lead supervisor to PhD students; for maintaining external links that enhance prestige; and for playing a leadership role, appropriate to rank, in supporting the department's and City University's goals of academic excellence.
PhD in economics (or related field) and a strong record of high-quality publications are essential. Other criteria are:
1. ability to obtain external research funding;
2. experience in supervising PhD students;
3. ability to deliver high quality teaching at both undergraduate and postgraduate levels;
4. willingness to supervise student research projects in taught programmes;
5. record of external activity such as editorships, journal refereeing, conference organisation, appropriate to rank;
6. willingness to play a leadership role, appropriate to rank.
Closing date - Tuesday 21st July.
We offer a comprehensive package of in-house staff training and development, and benefits that include a final salary pension scheme.
For more information and an application form, visit 
Actively working to promote equal opportunity and diversity.
The University for business and the professions 

Heterodox Conference Papers and Reports and Articles

GDAE Papers

The Global Development and Environment Institute at Tufts University (GDAE) announces two new working papers by GDAE Senior Research Fellow Julie A. Nelson:


Economists are often called on to help address pressing problems of the day, yet many economists are uncomfortable about disclosing the values that they bring to this work. This essay explores how an inadequate understanding of the role of methodology, as related to ethics and human emotions of concern, underlies this reluctance and compromises the quality of economic advice. The tension between caring about the problems, on the one hand, and writing within the existing culture of the discipline, on the other, are illustrated with examples from U.S. policymaking, behavioral economics, and the economics of climate change and global poverty. Potential steps towards a more responsible, "strongly objective," and policy-useful economics are discussed.


This essay explores the profoundly gendered nature of the split between the disciplines of economics and sociology which took place in the late 19th and early 20th centuries, emphasizing implications for the relatively new field of economic sociology. Drawing on historical documents and feminist studies of science, it investigates the gendered processes underlying the divergence of the disciplines in definition, method, and degree of engagement with social problems. Economic sociology has the potential to heal this disciplinary split, but only if the field is broadened, deepened, and made wiser and more self-reflective through the use of feminist analysis.
The working papers are available at: 
For more GDAE publications on Economic Theory, see:

LEVY Papers

- The “Unintended Consequences” Game (download)
- A Proposal for a Federal Employment Reserve Authority (download)
- A Crisis in Coordination and Competence (download)
- The Current Economic and Financial Crisis: A Gender Perspective (download)
- The Return of the State: The New Investment Paradigm (download)
- The Social and Economic Importance of Full Employment (download)
- Labor-market Performance in the OECD: An Assessment of Recent Evidence (download)
- Managing the Impact of Volatility in International Capital Markets in an Uncertain World (download)

GDAE launches reports at LASA in Rio

GDAE Presents Two Policy Reports June 11-14
Panels on investment, agriculture at LASA Congress in Rio de Janeiro
GDAE will be well-represented at the Latin American Studies Association Congress in Rio de Janeiro, June 11-14, with Kevin P. Gallagher, Timothy A. Wise, and Kenneth Shadlen making presentations. Gallagher and Wise will be joining other members of the Working Group on Development and Environment in the Americas for panels on their collaborative projects on foreign investment and agricultural trade liberalization respectively. They will also be launching new publications from their projects. Shadlen will be presenting his recent work on intellectual property regimes in Latin America. Details follow.
Kevin P. Gallagher will be presenting Thursday, June 11 at 1:00 pm on the findings of the Working Group’s “Foreign Investment and Sustainable Development: Lessons from the Americas,” a policy report (available in three languages). The background papers for the project have now been published as a book, Rethinking Foreign Investment for Sustainable Development: Lessons from Latin America (Anthem 2009).
More details available at:
(Gallagher will participate in other panels as well; see LASA program for details.)
Timothy A. Wise will present June 12 at 1:00 pm on the Working Group’s “The Promise and the Perils of Agricultural Trade Liberalization: Lessons from Latin America,” a policy report in English that is now being released in Spanish and Portuguese. In addition, a book-length volume in Spanish is being published in La Paz with the background papers from the project. For more information:
Kenneth Shadlen will present his new GDAE Working Paper, “Reforming and Reinforcing the Revolution: The Post-TRIPs Politics of Patents in Latin America,” on a panel Saturday, June 13 at 1:00 pm. The paper analyzes the political economy of patent regimes in selected Latin American countries. It is available for download at:
(Shadlen is a discussant on another panel; see program for details.)
For more on GDAE’s Globalization and Sustainable Development Program:


Heterodox Journals and Newsletters


Volume60, Issue3,2009


Alexander V. Ryzhenkov

Dieter Gstach

Takashi Oshio, Masaya Yasuoka

Michel-Stéphane Dupertuis, Ajit Sinha

Anwar Shaikh

Peter Docherty

Takashi Ohno

A. J. Julius

Gérard Duménil, Duncan Foley, Dominique Lévy

Dong-Min Rieu

Review of Political Economy

Volume 21 Issue 2 is now available online at informaworld ( ).

This new issue contains the following articles:

John Derek Pheby, October 24, 1949–October 21, 2008
Authors: Gary Mongiovi; Steven Pressman; John Smithin

Global Capitalism and Imperialism Theory: Methodological and Substantive Insights from Rosa Luxemburg, Pages 195 - 211
Author: Roberto Veneziani

Neoliberalism, EU and the Evaluation of Policies
Author: Kurt W. Rothschild

The World Bank's Early Reflections on Development: A Development Institution or a Bank?
Author: Michele Alacevich

Distribution and Growth in France and Germany: Single Equation Estimations and Model Simulations Based on the Bhaduri/Marglin Model
Authors: Eckhard Hein; Lena Vogel

The Effects of Employment Insecurity on Demand, Productivity and Employment Levels
Author: Andrea Pacella

Entanglement throughout Economic Science: The End of a Separate Welfare Economics
Authors: Hilary Putnam; Vivian Walsh

In Defense of Deontology and Kant: A Reply to van Staveren
Author: Mark D. White

A Response to Mark D. White
Author: Irene van Staveren

The Constitution of Capital: Essays on Volume I of Marx's Capital
Author: Scott Carter

Gambling in America: Costs and Benefits
Author: Robert Whaples

Coal: A Human History
Author: Robert Whaples

A Poverty of Reason: Sustainable Development and Economic Growth
Author: Robin Neill

Institutional Change and Globalization
Author: Stefan Kesting

IMF Essays from a Time of Crisis
Author: Mathew Bradbury

Economic Origins of Dictatorship and Democracy
Author: Oren M. Levin-Waldman

Ethical Codes and Income Distribution: A Study of John Bates Clark and Thorstein Veblen
Author: Oren M. Levin-Waldman

The First Crash, Pages 332 - 333
Author: Brad Andrew

The Economist's Tale: A Consultant Encounters Hunger and the World Bank
Author: Brad Andrew

Political Economy from Below. Economic Thought in Communitarian Anarchism, 1840–1914
Author: Michel Bauwens


Por Fabián Amico y Alejandro Fiorito7

Por Heinz Kurz y Neri SalvadoriFranklin

Por Pierangelo Garegnani

Por Gérard Duménil y Duncan Foley

Por Gary Mongiovi

Por Anwar M. Shaikh

De José Luis Fiori, Carlos Medeiros y Franklin Serrano
Por Alejandro Fiorito


The Journal of Philosophical Economics

Volume II Issue 2 2009 is now available online at

This new issue contains the following articles:

- Petre Comsa, Costea Munteanu, Economics and religion – a personalist perspective

- Frederic B. Jennings, Jr., Six choice metaphors and their social implications

- Mary V. Wrenn, The inheritance of heterodox economic thought: an examination of history of economic thought textbooks

- Xavier De Scheemaekere, The epistemology of modern finance

- Tamás Dusek, A review of Stephen T. Ziliak and Deirdre N. McCloskey, The Cult of Statistical Significance. How the Standard Error Costs Us Jobs, Justice, and Lives, The University of Michigan Press, Ann Arbor, 2008, 320 pages

- Karl Georg Zinn, A review of Peter Söderbaum, Understanding Sustainability Economics. Towards Pluralism in Economics, London, Sterling/VA: earthscan,2008, 158 pages

- Valentin Cojanu, A review of Ralph Harris in His Own Words, the Selected Writings of Lord Harris, Edited by Colin Robinson, Cheltenham, UK, Edward Elgar and the Institute of Economic Affairs,
2008, 343 pages
James Moulder, Commentary on Teaching Economics with Podcasts,
Literature and Movies

Local Economy

Volume 24 Issue 3  is now available online at informaworld ( ).

This new issue contains the following articles:

The State of Local Democracy in Britain
Author: Alan Waters

Disability, Health and the Labour Market: Evidence from the Welsh Health Survey
Authors: Melanie K. Jones; Paul L. Latreille

Building a Workforce Development System as an Economic Development Strategy: Lessons from US Programs
Author: Shari Garmise

Misplaced Expectations? The Experience of Applied Local Economic Development in Post-Apartheid South Africa
Authors: Etienne Nel; Tony Binns; David Bek

Good Dog SPOT? Single Pot Funding of Local Voluntary and Community Groups
Authors: Stephen P. Osborne; Kate Mclaughlin; Celine Chew; Mike Tricker

On the Recession
Author: David Walburn

The Global Recession: Its Impact in Asia and the Pacific
Author: Ian Shirley

Slow Food and Slow Credit: Strategies for Surviving a Slow Economy
Author: Diane Lupke

Triple Crisis in Belgium
Author: Rudy Aernoudt

CASE Newsletter

1.CASE International Conference The Return of History: From Consensus to Crisis.
The financial crisis of 2008-2009 raises profound questions about regulation and deregulation, moral hazard and efficient market hypotheses and whether global growth during the period 1989 to 2008 was the result of endogenous reforms or simply loose mon¬etary policy and massive speculative bubbles. The six panels of the conference will question elements that were taken as givens during the last 20 years that saw capitalism triumph over socialism. The Conference will be held in Warsaw on 20-21 November.

2.Key results of “EU Eastern Neighborhood: Economic Poten¬tial and Future Development” (ENEPO)
The Project “EU Eastern Neighborhood: Economic Poten¬tial and Future Development” (ENEPO) was a three-year research project1 led by CASE - Center for Social and Economic Research (Warsaw) and in¬volving 11 institutes from as many countries. Key results were presented in Brussels on 18 March 2009 during the ENEPO Final Conference “The European Union Eastern Neighbour¬hood: Economic Challenges Ahead” and are reported in the ensu¬ing supplement through interviews with Marek Dabrowski (CASE President and ENEPO Coordinator) on ENEPO’s main findings, Dan¬iel Gros (Director of CEPS) and Lucio Vinhas da Souza (DG ECFIN, European Commission) on the relationship between the EU and the CIS countries, and Dominik Sobczak (ENEPO Scientific Officer at DG Research, European Commission) on how the project and its results are of interest to the European Commission (EC).

3.CASE new project: Improving mechanisms of social assistance in Ukraine
The new project financed under the 2009 Pol¬ish Aid Program of the Ministry of Foreign Af¬fairs and jointly conducted by CASE and CASE Ukraine aims at improving mechanisms of so¬cial assistance in Ukraine.

4.CASE new publications:
Diversity and Commonality in European Social Policies: The Forging of a European Social Model, edited by Stanislawa Golinowska, Peter Hengstenberg and Maciej Zukowski approaches the forming of a European Social Model on the basis of the values common to member states’ welfare systems, the actual activities of the EU in the area of social policy, the impact of European integration on the convergence of national social policies, and the joint responses of member states to future challenges.

The Global Financial Crisis: Lessons for European Integration, authored by Marek Dabrowski and published in CASE Network Study and Analysis No.384, looks at the various challenges facing integration and institutional architecture in the EU in the aftermath of the crisis.

Please, find the full version of CASE newsletter under this link:


Issue 2, May 2009
Click here for detailed information.


Heterodox Books and Book Series

The Political Economy of Consumer Behavior: Contesting Consumption

(Routledge Advances in Social Economics)
Bruce Pietrykowski, Professor of Economics and Director of Urban and Regional Studies at the University of Michigan-Dearborn 

Consumption forms a major part of people’s lives. As such, geographers, historians of technology and sociologists have devoted much attention to trying to figure out what makes consumption meaningful. By contrast, economists have been content to hold onto theories of consumption that depend on a self-interested representative agent making utility maximizing decisions. Pietrykowski develops this alternative account through the recovery of past attempts to forge a different analytical approach to the study of consumption. In particular, theories of consumption espoused by home economists, psychological economists and Regulation school theorists are critically reviewed. These research projects, marginalized by the mainstream, are the precursors of contemporary scholarship in feminist, behavioural and radical political economics. Reclaiming this work greatly enlarges the scope for contemporary research in consumer behavior. Pietrykowski then provides a richly textured set of case studies of green automobility, slow food and alternative/local currency in order to explore the diversity of user cultures and to highlight resistant forms of consumer practice. By carefully interweaving historical and interdisciplinary research Pietrykowski creates a lively and incisive critique of mainstream economics
This monograph will be of interest to academic economists, sociologists, historians and graduate students. In addition, the economics of consumption would also be of interest to readers in management, marketing and schools of business administration.
Table of Contents: 1. Consumption Matters 2. Economic Knowledge: Boundary-Keeping and Border Crossing 3. Economic Knowledge and Consumer Behavior: Home Economics and Feminist Analysis 4. Psychology And Economics: Max Wertheimer, Gestalt Theory and George Katona 5. Fordism and the Social Relations Of Consumption 6. Green Consumption and User Culture: The Case of the Toyota Prius 7. Slow Food: The Politics and Pleasure of Consumption 8. Consuming with Alternative Currency 9. Consuming For Social Change: Ethical and Political Consumption

Routledge Advances in Social Economics
This series presents new advances and developments in social economics thinking on a variety of subjects that concern the link between social values and economics. Need, justice and equity, gender, cooperation, work poverty, the environment, class, institutions, public policy and methodology are some of the most important themes. Among the orientations of the authors are social economist, institutionalist, humanist, solidarist, cooperatist, radical and Marxist, feminist, post-Keynesian, behaviouralist, and environmentalist. The series offers new contributions from today’s most foremost thinkers on the social character of the economy.
Publishes in conjunction with the Association of Social Economics.
Click here to view other titles in this series 

ZED Books

The Environmental Responsibility Reader
Edited by Martin Reynolds, Chris Blackmore and Mark J. Smith

Soil Not Oil
Climate Change, Peak Oil and Food Insecurity
Vandana Shiva

How to Manage the Global Greenhouse
Oliver Tickell

Can We Afford the Future?
The Economics of a Warming World
Frank Ackerman

The Corporate Greenhouse
Climate Change Policy and Greenhouse Gas Emissions Reductions in a Globalizing World
Yda Schreuder

Fair Future
Resource Conflicts, Security, and Global Justice
Edited by Wolfgang Sachs and Tilman Santarius

The Enemy of Nature
The End of Capitalism or the End of the World?
Joel Kovel

Environment and Citizenship
Integrating Justice, Responsibility and Civic Engagement
Mark J. Smith and Piya Pangsapa

The Global Food Economy
The Battle for the Future of Farming
Anthony Weis, University of Western Ontario, Canada

Water under Threat
Larbi Bouguerra

Staying Alive
Women, Ecology and Development
Vandana Shiva

Celebrity and the Environment
Fame, Wealth and Power in Conservation
Dan Brockington

ZED Catalogue 

Unravelling Capitalism: A Guide To Marxist Political Economy

by Choonara, Joseph. Published/Distributed by Bookmarks.
ISBN-13 No: 9781905192502
ISBN-10 No: 1905192509
Other info: Normally in stock
Karl Marx was the greatest critic of capitalism. Yet his ideas are widely dismissed or misunderstood.
But Marx is indispensable for anyone who wants to grasp why capitalism is a system of exploitation,
instability and repeated crises. Joseph Choonara introduces Marx’s approach to understanding
capitalism—developed above all in the three volumes of Capital. He also outlines how this can be
applied to capitalism as it has developed since Marx’s time. 

Bankruptcies and Bailouts

Edited by Wayne Antony, Julie Guard
ISBN: 9781552663134
Price: $18.95 CAD
Pages: 128 
Recession? Depression? Market adjustment? Billion-dollar bailouts? Just what is happening to the economy? Like the rest of the industrialized world, Canada is in the midst of an economic crisis that is cleary of global proportions. Yet, Nobel Prize winning economists failed to see it coming. This is unsurprising since, in the words of the newly humble Alan Greenspan, the crisis revealed “a flaw in the model ... that defines the way the world works.” Bankruptcies and Bailouts explains the roots of this economic disaster. The essays in this book show, in clear and accessible language, that the global capitalist economy, dependent on hyper-extended credit, fuelled by systematic deregulation and rooted in the contradictions of a mad drive for unlimited profits, must inevitably end up in this predicament. The authors also demonstrate that there are ways out of this economic mess that do not involve simply bailing out the obscenely over-paid executives whose decisions led us to this chaos.
- Foreword–Cy Gonick
- Explaining the Economic Crisis: Class Warfare from Reagan to Obama–Robert Chernomas
- Inequality, the Profit System and the Global Crisis–David McNally
- From Deregulation to Crisis–Ian Hudson
- Hyper-Credit: The Financial Dimension of the Economic Crisis–John Loxley
- Canada and the Economic Crisis–Fletcher Baragar
- We’re All Keynesians–Again–Lynne Fernandez
- Keynes Redux: From World Money to International Money at Last?–Rahdika Desai
- Investing in Civilisation: What the State can do in a Crisis-Alan Freeman
- Biblography
About the Authors
Wayne Antony is a publisher at Fernwood Publishing. He is also a founding member of the Canadian Centre for Policy Alternatives–Manitoba (CCPA-MB) and has been on the board of directors since its inception. Prior to becoming involved with the CCPA-MB, he worked with the Winnipeg political activist organizations, Socialist Education Centre and Thin Ice. Wayne also taught sociology at the University of Winnipeg for eighteen years. He is co-author of three reports on the state of public services in Manitoba (for CCAP-MB) and is co-editor (with Les Samuelson) of Power and Resistance: Critical Thinking about Canadian Social Issues and Citizens or Consumers? Social Policy in a Market Society and Capitalism Rebooted? Work and Welfare in the New Economy (both with Dave Broad). He is also co-editor (with Julie Guard) of the up-coming book, Bankruptcies and Bailouts.
Julie Guard is an associate professor of labour studies at the University of Manitoba, a research associate for the Canadian Centre for Policy Alternatives-Manitoba and a member of the CCPA Manitoba and National boards. She is active in the labour, peace and women’s movements, and her articles on gender, ethnicity and working-class identity have been published in Labour/le travail and the Journal of Women’s History.

The Political Economy of Monetary Circuits

Tradition and Change in Post-Keynesian Economics
Edited by Jean-François Ponsot and Sergio Rossi
Palgrave Macmillan 
This collection of essays in the tradition of monetary circuit theory, also known as monetary theory of production, elaborates on the foundations of modern monetary macroeconomics. It contributes to a new approach to monetary analysis, which provides original insights into the complex fields of money, banking, and finance. The contributors, all prominent experts in these fields, explain a number of economic activities, such as production, consumption, investment, and fixed capital accumulation, in terms of monetary circuits, providing a deeper understanding of the working of contemporary economic systems. This book offers an original analysis of the fundamental factors that led to the current global economic and financial crisis. It will be of great interest to students, postgraduates and scholars in monetary economics, as well as to practitioners and decision makers involved in monetary, banking and financial policies.
Preface: An Alternative (Monetary) Theory of the Market Economy: Work in Progress; F.Ülgen
Circuit Theory Supplementing Keynes’s Genuine Analysis of the Monetary Economy of Production; C.Gnos
Bridging the Gap between Monetary Circuit Theory and Post-Keynesian Monetary Theory; J.Jespersen
Monetary Circuit Theory and Money Emissions; S.Rossi
The Existence of Profits within the Monetary Circuit: Some Unanswered Questions Revisited; L.Rochon
Saving, Firms’ Self-Financing, and Fixed Capital Formation in the Monetary Circuit; J.Bailly
Finance and the Realization Problem in Rosa Luxemburg: a ‘Circuitist’ Reappraisal; R.Bellofiore & M.Passarella
Money, Capital Turnover, and the Leisure Class: Thorstein Veblen’s Tips for a Monetary Theory of Production; G.Forges-Davanzati & R.Realfonzo
From Wicksell to Keynes? Some Thoughts on the Role of a Central Bank in the Tradition of Monetary Circuit Theory; S.Figuera
The Dynamics of the Monetary Circuit; S.Keen
The Financialization of Modern Economies in Monetary Circuit Theory; M.Pilkington

Capital as Power: A Study of Order and Creorder

Jonathan Nitzan & Shimshon Bichler

RIPE Series in Global Political Economy | Routledge | May 2009
464 pages | Pbk. $39.95 | Hbk. $140.00


Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is.
Liberals and Marxists both think of capital as an 'economic' entity that they count in universal units of 'utils' or 'abstract labour', respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don’t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most – the accumulation of capital.

This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape – or creorder – their society.

Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of 'capital as power' and a new history of the 'capitalist mode of power'.

Economic Pluralism

Edited by Robert F. Garnett Jr, Erik Olsen, Martha Starr 
Price: $150.00
Add to Cart
- ISBN: 978-0-415-77703-2
- Binding: Hardback
- Published by: Routledge
- Publication Date: 20th August 2009 (Available for Pre-order)
Pages: 288
Recommend this title to a librarian using our Librarian Recommendation Form.

About the Book
The leading edges of economic thinking in the early 21st century are marked by a nascent pluralism - a positive valuing of difference and complexity - regarding the nature and evolution of human behaviour and economic organization. Economic Pluralism brings these pluralist sensibilities to the fore. Its twenty original essays explore the value and difficulties of pluralism in economic theory, philosophy, institutions, and education.
These twenty original essays reflect the maturity and breadth of pluralist scholarship in economics today. The first eight chapters (including essays by Tony Lawson, Diana Strassmann, Frederic Lee, and David Colander) stake out contentious positions on how and why pluralism matters in economic inquiry. The remaining chapters explore the meaning and consequences of pluralism in economic education, institutions, and policies.
This volume provides a unique "second generation" discussion of pluralism in economics. Its twenty original essays include contentious disagreements about where and why pluralism matters in economic inquiry as well as creative explorations of pluralism and its consequences in economic systems and in graduate and undergraduate economic education. It is certain to spur further debate over the scope and value of economic pluralism for the 21st century. This volume would be of most interest as a supplementary text for graduate or undergraduate courses that include units on heterodox economics or economic philosophy.

Table of Contents
Introduction - Economic Pluralism for the 21st Century by Robert Garnett, Erik Olsen, Martha Starr: Pluralism and Economic Inquiry: Pluralism and Heterodoxy: 1 Pluralism in Heterodox Economics by Frederic Lee: 2 Moving Beyond the Rhetoric of Pluralism: Suggestions for an "Inside-the Mainstream" Heterodoxy by David Colander: 3 Is Convergence among Heterodox Schools Possible, Meaningful, or Desirable? by William Waller: 4 Raising Dissonant Voices: Pluralism and Economic Heterodoxy by Diana Strassmann, Caren Grown, and Martha Starr Theorizing Pluralism 5 Is Kuhnean Incommensurability a Good Basis for Pluralism in Economics? by Gustavo Marqués and Diego Weisman: 6 Why Should I Adopt Pluralism? by Rogier De Langhe: 7 Ontology, Modern Economics, and Pluralism by Tony Lawson: 8 The Cambridge School and Pluralism by Vinca Bigo: Pluralism and Real-World Economies: Economic Democracy and the Common Good: 9 America beyond Capitalism: The Pluralist Commonwealth by Gar Alperovitz: 10 From Competition and Greed to Equitable Cooperation: What Does a Pluralist Economics Have to Offer? by Robin Hahnel: 11 Growth, Development, and Quality of Life: A Pluralist Approach by Ric Holt and Daphne Greenwood: 12 Beyond the Status Quo, in the World and in the Discipline: The Comments of an Austrian Economist by Emily Chamlee-Wright Economic Cooperation: Commercial and Communal 13 Hayek and Lefebvre on Market Space and Extra-Catallactic Relationships by Virgil Henry Storr: 14 The Plural Economy of Gifts and Markets by Ioana Negru: 15 Communities and Local Exchange Networks: An Aristotelean View by Philip Kozel Pluralism and Economic Education: 16 Promoting a Pluralist Agenda in Undergraduate Economic Education by KimMarie McGoldrick: 17 The Illusion of Objectivity: Implications for Teaching Economics by Alison Butler: 18 A Pluralist Teaching of Economics: Why and How by Gilles Raveaud: 19 Economic Pluralism and Skill Formation: Adding Value to Students, Economies, and Societies byRod O’Donnell: 20 A Most Peculiar Success: Constructing UADPhilEcon, a Doctoral Program in Economics at the University of Athens by Yanis Varoufakis: 21 List of Contributors.

About the Author(s)
Robert Garnett is Associate Professor of Economics at Texas Christian University. Erik K. Olsen is Assistant Professor of Economics and member of Doctoral Faculty at the University of Missouri Kansas City. Martha Starr is a member of the economics faculty at American University in Washington, DC. Prior to joining AU, she was a senior economist at the Federal Reserve Board of Governors.

The American Journal of Economics and Sociology Book Series

The American Journal of Economics and Sociology (AJES) was founded in 1941, with support from the Robert Schalkenbach Foundation, to provide a forum for continuing discussion of issues raised and emphasized by the American political economist, social philosopher, and activist, Henry George (1839-1897). AJES has a long and distinguished history of publishing papers in the history of economic and social thought.

Each year AJES presents a special supplementary issue to all subscribers containing an important and interesting monograph in an ongoing series entitled Studies in Social Reform and Economic Justice. In addition, each year one issue is entirely devoted to an important thematic topic and scholars are invited to contribute from all around the world. These special issues are also published as books and are available for individual purchase.

Social Inequality, Analytical Egalitarianism and the March Towards Eugenic Explanations in the Social Sciences

Laurence S. Moss (Editor)
ISBN: 978-1-4051-9124-1
300 pages
October 2008, Wiley-Blackwell

Henry George: Political Ideologue, Social Philosopher and Economic Theorist

Laurence S. Moss (Editor)
ISBN: 978-1-4051-8750-3
200 pages
June 2008, Wiley-Blackwell

Ernest Mandel: A Rebel’s Dream Deferred

Jan Willem Stutje
With a foreword by Tariq Ali
Translated by Christopher Beck and Peter Drucker

Published 18th May 2009

Ernest Mandel (1923-1995), was one of the most prominent anti-Stalinist Marxist intellectuals of his time. A political theorist and economist, his worldview was shaped by experiences in the Second World War as an underground political activist in Occupied Belgium and during his subsequent internment in a Nazi prison camp. Mandel’s faith in human nature and in the working classes survived Nazi oppression and the murder of much of his family in the concentration camps. He retained his connection to his Jewish roots throughout his life, but believed that security and liberation for the Jewish people was best achieved through world revolution and universal emancipation rather than nationalism. A brilliant orator in several languages, Mandel was an indefatigable revolutionary militant and a key leader in the Fourth International, He had an enormous impact on the thought and practice of the 1968 generation. His writings range from innovative economic and political theory to a study of the Second World War and have been published in over forty languages. His last major work, Late Capitalism, had an influence that reached from the social sciences into the humanities. Biographer Jan Willem Stutje, the first writer with access to Mandel's archives, has interviewed many of the leading figures in the story and unearthed a wealth of new material, detailing Mandel’s arrest by the Nazis and his role in Latin American guerrilla warfare. He recounts Mandel's interactions with both scholars – Sartre, Ernst Bloch, Perry Anderson - and comrades-in-arms such as Che Guevara, Rudi Dutschke and Tariq Ali. The book also yields fascinating details of the man's sometimes tragic private life.

JAN WILLEM STUTJE is a historian affiliated with the Institute of Biography at the University of Groningen. He has published a life of Dutch Communist Party leader Paul de Groot and studies of the Dutch and international labour movement in scholarly publications in the Netherlands and abroad.

Praise for Ernest Mandel: A Rebel’s Dream Deferred:

“An extraordinary accomplishment. This book deserves a place of honour in the library of anyone who is interested in the history of twentieth-century revolutionary socialism.” Walter Lotens, Kritisch lezen

“A masterful and critical biography that reads like a thriller.” Fred Braeckman, De Morgen

“Stutje does a good job of avoiding the temptations of hagiography, and paints a fascinating portrait of Mandel, a Marxist thinker and radical political figure who is undeservedly almost forgotten.” Piet Piryns and Hubert van Humbeek, Knack

“This impressive scholarly biography deals not only with Ernest Mandel, but equally with the success and tribulations of the Trotskyist movement that he helped lead for decades and with society as a whole. This smoothly written book inadvertently evokes the image of a biblical prophet, whose personal life and happiness, loves, friendships and career were sacrificed time and again to the great struggle against exploitation and injustice – a man who knew that he had to give up everything except hope.” Ludo Abicht, AKTIEF

ISBN 9781844673162 £19.99 / $34.95 / Hardback / 424 pages

Ernest Mandel: A Rebel’s Dream Deferred is available from all good bookshops and:



Routledge Advances in Heterodox Economics Series

A History of Heterodox Economics
Challenging the Mainstream in the Twentieth Century
By Frederic S. Lee
ISBN: 978-0-415-77714-8 / Pub Date: February 2009 / $150.00
This book presents a social qua community history of heterodox economics. The author provides the best and most
thorough account of the rise of heterodoxy and the response of orthodoxy within economics.

Radical Economics and Labor
Edited by Frederic S. Lee, Jon Bekken
ISBN: 978-0-415-77723-0 / Pub Date: January 2009 / $140.00
This book speaks both 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.

Currencies, Capital Flows and Crises
A Post Keynesian Analysis of Exchange Rate Determination
By John T. Harvey
ISBN: 978-0-415-77763-6 / Pub Date: December 2008 / $125.00
This unique book examines exchange rates and portfolio capital flows from an objective perspective and the result is a book which will be of use to financial economists all over the world.

Ontology and Economics
Tony Lawson and His Critics
Edited by Edward Fullbrook
ISBN: 978-0-415-47613-3 / Pub Date: October 2008 / $150.00
ISBN Paperback direct: 978-0-415-54649-2 / $44.95
This original book brings together some of the world's leading critics of economics orthodoxy to debate Lawson's contribution to the economics literature. In this collection scholars such as Bruce Caldwell, John Davis and Geoffrey Hodgson present their thoughtful criticisms of Lawson's work while Lawson himself presents his reactions.

Click here to download the order form.


Heterodox Book Reviews

The Life and Times of Raúl Prebisch, 1901-1986

by Edgar J. Dosman, McGill-Queen´s University Press, 2008. (Sent to the Newsletter by Carlos Mallorquin)
Click here to download the review.

Economics in Russia: Studies in Intellectual History

Vincent Barnett and Joachim Zweynert, editors, _Economics in Russia: Studies in Intellectual History_. Burlington, VT: Ashgate, 2008. xviii + 198 pp. $100 (hardcover), ISBN: 978-0-7546-6149-8

Reviewed for EH.NET by Warren J. Samuels, Department of Economics, Michigan State University.


International Confederation of Associations for Pluralism in Economics - News


ICAPE promotes many activities in the name of pluralism in economics and which are of interest to heterodox economists. One of its activities is having a booth at the ASSA meetings each year. The booth enables various heterodox associations, organizations and individuals to display their wares, so to speak. And also it is a meeting place for heterodox-pluralist economists to meet. ICAPE will have a table at the 2010 ASSA meetings.

ICAPE also sponsors a conference every three years. The last conference was held in 2007 in Salt lake City, Utah. The conference volume will be published in August—see below in the Heterodox Books and Book Series section. Thus, it is time for it to hold its next conference which will be in June 2010—tentatively the early part of June. A committee is being formed to work on it.

To have a booth at the ASSA and to put on a conference requires money—and ICAPE has very little of it. Thus if you belong to associations, head a research institute, are editors of a heterodox economics journal, or are heads of economic departments that support pluralism, I urge you to join or renew your membership in ICAPE—for membership for click here.

One final thing, being I need to focus my attention on being the editor of the AJES, I will step down as the Executive Director of ICAPE at the next Board meeting which will be at the ASSA 2010 meetings. If anyone is interested in becoming the new Executive Director of ICAPE, please send me an e-mail. 


Heterodox Web Sites and Associations

Hasan Gurak

The web site contains articles mostly in Turkish language but there are also several articles in English. Also some very nice pictures of Istanbul.


For Your Information

The Minsky String Quartet

The Minsky String Quartet (euphoria without fragility), consisting of Jan Toporowski and Nikhil Vellodi (violins) Paul Ahn (viola) and Rachel Whitworth (violoncello) will be making its debut at the book launch for Stephen Chan's book The End of Certainty at 6 p.m. on Tuesday 26 May, in the Brunei Gallery of the School of Oriental and African Studies of the University of London. The Quartet will play string quartets by Juan Crisostomo de Arriaga and arrangements by Sam Pegg of popular songs associated with the 1929 Crash.

Remarques préparées par Andrew Cornford pour l’occasion de la publication du livre de Professor Paul Dembinski

My contribution to today’s presentations will be to take up three issues under the heading of financialization,a term intended to denote the way in which finance now transcends its traditional role as a set of services and has become an organizing principle of modern societies. The issues are the impact of financialization at the level of the institutions and individuals that are its agents, aspects of the conceptualization of finance - conceptualization that determines the character of inquiry and research as well as teaching and commentary, which in turn has a major influence on the framework within which financial operations are carried out, and on government policy towards the financial sector-, and finally, the increased financial complexity associated with financialization, with special emphasis on the regulatory dimension. (Unless otherwise specified, all references in the sequel are to P.H.Dembinski, Finance: Servant or Deceiver ? Financialization at the Crossroads, New York, Palgrave Macmillan for Observatoire de la Finance, 2008.)
Click here to download the paper.

Toxic Textbooks

A new movement (click here for its manifesto) is being launched to encourage universities and schools to use economics textbooks that engage honestly with the real world.
Recently several prominent economists, including Hodgson and Keen, have publicly called for worldwide student protest to help bring about serious change in academic economics, especially in teaching. Although the circumstances for this have never been so favourable, the problem is how to get protest started up to the point where it becomes self-sustaining and nationally and internationally contagious.
To this end a website  has been set up and, more importantly, also a Facebook group  named Toxic Textbooks. The Facebook group is intended to provide the means by which students and others can organize themselves and spread the word.

Three or four minutes, literally, of help from each of you will give this movement a big kick start. I imagine that most of you, like myself until a few days ago, have had no experience with Facebook. But the thinking is: if it worked for Obama, it might also work for us.
Most of you are teachers of economics rather than students, and, true, this Facebook group is more likely to be run on the contributions of the many students who we hope will join it. But seeding it and legitimising protest by students is a very important role.
Joining Facebook and then the group is dead easy. Click  . Now all you need to give them is your name, email address and date of birth, which if you request, as I did, they promise not to reveal. Skip the optional rest (no photo required), click and you are signed up – two minutes.
Now to join Toxic Textbooks, click on "View and edit your profile". At the very bottom of the screen there should be a toolbar labelled "Applications". Click on the first icon to the right, a pair of heads, and this takes you to Groups. In the "Search for Groups" box at the top of the page type in Toxic Textbooks and click. A Toxic Textbooks rectangle should appear with a "Join Group" box on right. Click it, and then click "join" again and that's it.
When after having become a member and you get to the Toxic Textbooks group page, if you could post something, anything, on the discussion board or on the Wall that would be great.
If you would encourage a couple of your colleagues or students to join or if you would place links for the movement on your website, that would be better still.
Thank you for your help,

Edward Fullbrook

The 2009 Routledge–GCP&S Essay Prize

Global Change, Peace & Security is a leading peer reviewed journal published by Routledge (UK) and based at La Trobe University, Victoria, Australia
GCP&S invites entries for the annual Routledge–GCP&S Essay Prize competition. This competition is designed to encourage outstanding new contributions to research on practical and theoretical questions posed by a rapidly globalising world. It seeks to attract new research into the international dimensions of political, economic and cultural life, and into the contradictions of an increasingly integrated yet fragmented world. Of specific interest are entries that look at events and developments that reverberate beyond the confines of a particular country, and those that are concerned with the sources and consequences of conflict, violence and insecurity, as well as the conditions and prospects for conflict transformation and peace-building.
The winning essay will be refereed with a view to publication in Global Change, Peace & Security. The author will receive the Routledge–GCP&S Essay Prize winner’s certificate, as well as $US500 prize money.
The competition is open to those enrolled in an undergraduate or postgraduate degree, or who have graduated within the previous four years. Previously published research articles, or those that are being considered for publication, will not be acceptable. Essays currently being assessed as part of a degree will also not be accepted.
Essays must be between 6000-8000 words in length. The style must conform strictly to the guidelines set out on the journal’s website and be accompanied by the author’s name, their contact details, and details of their institutional affiliation if applicable. For guidelines, please refer to 
Please send entries (printed in English and as email attachments only) to
by no later than Friday 6 November, 2009
For more information contact:
Global Change, Peace & Security is a scholarly journal that has, for over twenty years, addressed the difficult practical and theoretical questions posed by a rapidly globalising world. It is committed to promoting research that explores the relationships between states, economies, cultures and societies. For details, visit 
Dr Stephen James
Global Change, Peace & Security
Centre for Dialogue
La Trobe University
Victoria 3083 AUSTRALIA 
*The judges reserve the right to withhold the award should the desired standard not be reached.

La Continuidad teórica entre Marx y Sraffa

El Grupo Lujan el 8 de mayo, realizó la presentación del cuarto número de Circus, dedicado al vínculo y continuidad de la obra de Sraffa con Marx. Para ello se
contó con la presencia de economistas e investigadores vinculados a la teoria clasica del excedente como Eduardo Crespo, Alejandro Fiorito y Fabian Amico, que argumentan a favor de la continuidad teórica de Sraffa con respecto a Marx y por otro lado Axel Kicillof argumentando en favor de una diferencia radical de la teoria de valor en Marx con lo que denomina la economia "ricadiana". En el número de Circus 4 se presenta una nota que trata de resumir el problema a cargo de Amico y Fiorito,
"Marx y Sraffa en el debate teorico en la Argentina"

Presentación a cargo de Hugo Azcurra y Exposición de Alejandro Fiorito

1-"Sraffa ofrece una revitalización de la economía clasica y representa una implosiòn de la economía neoclásica"

2-Sobre el núcleo analítico del problema de la transformación
"Si el problema analítico no està bien resuelto, dificilmente podrà hacerse alguna valoración normativa, filosófica, o política correcta..."

(Ecuaciones a las que refiere la exposición de A. Fiorito)

Exposición de Axel Kicillof

1-"como yo en Marx leo otras cosas, nunca logrè conectar la critica de Sraffa con mis propias inquietudes"

2-"la teoria de los costos de produccion es una teorìa tautologica"

3-"la teoria de los salarios de subsistencia es a las claras insostenible"

4-"la determinacion exògena de las variables distributivas no me parece una determinacion profunda de la acumulación."

Exposición de Eduardo Crespo

1-"Sraffa se consideraba Marxista"

2-"lo de donde viene la mercancia y lo de la dialéctica esta bien, pero el problema es resolver los precios normales"

3-"existe una continuidad entre Marx, Dmitriev, Bortkiewicz, V. Charasoff y Sraffa"

4-"el sistema temporal simple no tiene bases textuales y es indefendible" ..."Shaikh es el verdadero neorricardiano"

5-"la defensa de la ley de Say se encuentra en muchos marxistas, contra los kaleckianos: los capitalistas gastarìan lo que ganan"

Exposición de Fabián Amico

1- Final de Crespo. Inicio de Amico
"¿Cómo se puede determinar endógenamente lo que va a ser la participación de los trabajadores en el excedente? ...
no hay manera porque depende de condiciones históricas específicas, lamentablemente para quienes quieren determinar todo
dentro de un "sistema economico general marxiano"...esto depende de la lucha de clases".

2-"Para muchos marxistas si no hay consistencia importa...todo sigue siendo válido..."

Corporate Governance Network (CGN)

We are pleased to announce the creation of the Corporate Governance Network (CGN). It will provide a worldwide, online community for research in all areas of corporate governance, following the model of other subject matter networks within SSRN.

CGN will be merging with the Social & Environmental Impact Network (SEIN), and will adopt all of Subject Matter eJournals and Research Paper Series, as noted below.

We expect CGN to become a comprehensive online resource for research in corporate governance, providing scholars with access to current work in their field and facilitating research and scholarship.

CGN is sponsored by the Investor Responsibility Research Center (IRRC) Institute, whose mission is to provide thought leadership at the intersection of corporate responsibility and the informational needs of investors. While the Institute is a relatively new non-profit organization, formed with the proceeds of the sale of the Investor Responsibility Research Center in 2006, it continues the tradition and standards of objective research for which IRRC has been known since 1972. For more information, please see

CGN's founding director is Lucian A. Bebchuk, William J. Friedman and Alicia Townsend Friedman Professor of Law, Economics, and Finance, and Director, Corporate Governance Program, Harvard University - Harvard Law School; Research Associate, National Bureau of Economic Research (NBER); Research Associate, European Corporate Governance Institute (ECGI).

Initially, CGN will begin with the following 21 subject matter eJournals, and subscriptions will be free during the start-up phase through October 2009. CGN will also begin with two Research Paper Series -- Rock Center for Corporate Governance and Oxford Internet Institute -- as noted below.

CGN is creating an online community interested in the expanding area of corporate governance research. Since corporate governance is a growing, interdisciplinary subject, submissions should be limited to no more than two CGN journals.

Click here to download CGN List.


Welcome to our first eInsight. The uncertainty surrounding the path of the economy is presenting challenges for everyone at present, from developers to financial institutions to government.

Our regularly updated eInsight aims to summarise some of the most interesting developments and economic indicators, providing you with useful and timely reflections on the economy as it continues to evolve and respond to circumstances. We hope you find it interesting and welcome your comments.

Revolutions fought & refought?


Robert Rowthorn interviewed by Alan Macfarlane 13th June 2008

0:09:07 Born 1939 in Newport, Monmouthshire; have almost no memories of grandparents as most were dead before I was born; my father was a policeman and mother, a housewife; they were both strong members of the Conservative Party and my father eventually became the Mayor, even though it was a Labour town; had a very strong sense of public responsibility; got a strong sense of justice from them; brought up through the Grammar School system and the Boy Scouts, both very disciplined with corporal punishment; father was a gentle man, mother a bit less so; have an older brother who eventually became an Anglican Bishop in the United States (cont.)