From the Editor
In two days, the Bremen
Workshop on Assessing Heterodox Economics
Research in a European Context will take place.
While working on the preparations for the
Workshop I received the following e-mail from an
Australian colleague:
Just back from
a deeply depressing staff meeting, at which we
learned that the Deputy VC (Research) intends to
actively discourage staff from publishing in
B-ranked journals, on the grounds that ‘it will
pull down the average’. When implemented (as it
will be), this will eradicate heterodox
economics (and HET) altogether....A longer-term
cloud on the horizon is staff support for
compulsory (mainstream micro, macro,
econometrics) coursework for all new PhD
students, which will eradicate heterodox
research students too. When I pointed out the
effect on anyone doing research in HET or
political economy (all 4 of my current PhD
students), it was suggested that they might be
exempted because they are ‘not doing economics’.
The issues that the Workshop will address are
indeed important ones for heterodox economists.
Fred Lee
In
this issue:
|
Call for Papers |
|
- The European
Society for the History of Economic Thought
- Association for Institutional Thought [AFIT]
- The Research Network Macroeconomics and Macroeconomic
Policies (FMM)
- The Japanese Society for Post Keynesian Economics
- URPE Summer Conference, August 15 – 18, 2009
- International Walras Association 2010 Conference
- 2009 International Historical Conference Critical Thought |
|
Conferences, Seminars and Lectures |
|
- ISHET –
International Symposium on the History of Economic Thought
- Forum the Spirit of Innovation IV
- The 41st Annual UK History of Economic Thought Conference
- Eastern Conference for Workplace Democracy 2009
- Is Black and Red Dead?
- 15th Workshop on Alternative Economic Policies in Europe
|
|
Heterodox Conference Papers and
Reports and Articles |
|
- Alternative Explanations of the
Operation of Capitalist Economy: Efficient Market Theory vs.
Keynes's Liquidity Theory
- The Debate on the Developmental State: Evidence from the
Indian Software Industry |
|
Heterodox Journals and Newsletters |
|
- Economia e Sociedade
- Levy News
- Associative Economics Bulletin
- International Review of Applied Economics
- Journal of Innovation Economics (JIE)
- Innovations, Cahiers d'Economie de l'Innovation
- HEI- History of Economic Ideas
- Review of Social Economy
- Economic Systems Research
- The European Journal of the History of Economic Thought
|
|
Heterodox Books and Book Series |
|
- Nice Work If You Can Get It
- Following Marx: Method, Critique and Crisis
- Rethinking Foreign Investment for Sustainable Development:
Lessons from Latin America
- Embedded With Organized Labor
- Heterodox Macroeconomics
- ZED Books- Development Studies
- Development of Economic Analysis, 7e
|
|
Heterodox Book Reviews |
|
- Lawrence E. Mitchell, _The Speculation
Economy: How Finance Triumphed over Industry
- The Case for Big Government |
|
Heterodox Web Sites and Associations |
|
- The International Adam Smith Society
- El Grupo de Investigación en Pensamiento y Teoría
Económica (GIPTE)
- Charles Leopold Mayer Foundation Initiative for
Re-thinking the Economy
- Economic Perspectives from Kansas City |
|
For
Your Information |
|
- Survey on Education for Sustainable
Development
- James Galbraith
- Videos from Professor Sidney Winter
- The Phillips Machine
- Academics languish behind the curve set by journalists
- Warren Samuels Prize
- Interview- Paul Davidson
- The Association for Institutional Thought
- The Nature of Capital in the Knowledge-Based Economy
- Economics for Equity and the Environment Network (E3)
- Center for the History of Political Economy
- Center for Global Justice
- Centro Para la Justicia Global
- The Union of Concerned Scientists |
|
|
Call for Papers
The European
Society for the History of Economic Thought
The European Society for the History of Economic Thought (ESHET) and
the University of Castilla – La Mancha (UCLM) are jointly organizing
a Workshop on:
“The Recession of 2008. Do Economists ever agree on Analysis and
Prescriptions?
The current financial and economic crisis has been stimulating some
very important and interesting debates. On the one hand, there have
been several attempts to compare it with previous crisis, especially
with the Great Depression of 1929. On the other hand, the current
crisis has also stimulated lively debates about the current state of
economic analysis and its effectiveness in providing adequate
accounts of the crisis.
Hence, the current crisis has not only highlighted the changing
nature of our economic reality, but also the usefulness of taking a
longer view when approaching economic analysis. The potential
contribution ! of the history of economic ideas seems to be
extremely relevant on both accounts.
This Workshop is aimed at analyzing the current financial and
economic crisis from a history of economic thought perspective. The
papers presented may offer an overview of the crisis or focus on
specific issues. They may refer to the global economy or to a single
region or country. The may dig on the causes, the consequences or
policy recommendations.
The Workshop will take place in the Facultad de Ciencias Económicas
y Empresariales de Albacete (University of Castilla – La Mancha,
Spain) on the 21 and 22 January, 2010. Albacete is a small but well
communicated city. It can be reached by train from Alicante (1:15
hours), Valencia (1:30 hours) and Madrid (2 hours).
The seminar has been organized in three parts:
1.Thursday evening (16-18; 18:30-20:30): Presentation of four
selected papers.
2.Friday early morning (9-11): Parallel sessions.
3.Frida y late morning (11:30-13:30): Presentation of two selected
papers.
The papers should be sent to
mariaangeles.tobarra@uclm.es before 21 November 2009.
Participants will receive confirmation of acceptance before 21
December 2009. The Committee will indicate the six papers selected
at plenary sessions. They are supposed to cover a broad array of
streams in the history of economic thought.
We aim to publish a book gathering together the 10 best papers.
Apart form the six papers presented at plenary sessions, the
Committee will select four additional papers among those discussed
in parallel sessions.
There are no registration fees for the Workshop. ESHET and UCLM will
provide three grants (of 350 euros each) to applicants who don’t
have any other source of finance and present good papers.
For further information visit
http://www.uclm.es/actividades/2009/workshopESHET-UCLM
Association for
Institutional Thought [AFIT]
2010 CALL FOR PAPERS
The 31st annual meeting of AFIT will be held
April 14-17, 2010
Reno, Nevada
Grand Sierra Resort
In conjunction with the Western Social Science Association (WSSA)
52nd Annual Conference
Theme for the 2010 Conference: Toward a Socially Embedded Economy
Institutional economics starts from the view that economy or
material provisioning is an instituted process and that institutions
should be the basic unit of economic analysis (as opposed to the
maximizing representative agent) because they act to both control
and empower individuals and social groups and give rise to
correlated and often predictable patterns of human behavior. The
Association for Institutional Thought provides an excellent platform
for the delivery of papers in a broad range of areas, including but
not limited to macro and monetary economics, political economy,
labor, regulatory and environmental economics, economies in
transition, history of thought, institutional selection and
evolutionary theory, healthcare, trade and globalization, poverty
and inequality, and the economics of sports. The Association invites
contributions that employ non-standard models or techniques of
investigation and analysis. AFIT sessions are well-attended, and
presenters can expect to receive valuable comments on their work.
Proposals for complete panels (including discussant(s)) are welcome.
The theme for the 2010 AFIT conference is: Toward a Socially
Embedded Economy. The social control of big business is a
longstanding concern among institutional economists. The 2010 theme
is predicated on the view that the design of key economic, legal,
regulatory, and other institutions in the capitalist world (but
especially the United States) manifests and promotes the iron rule
of shareholder interest and consumerism at the expense of other
important values such as income and health security, family and
community, a reasonably equitable distribution of economic and
political power, the availability of collectively consumed goods,
and sustainable ecosystems. The conference organizer is especially
interested in papers that identify and explicate institutions that
serve narrow, elite, or class economic interests and stand in the
way of a movement to a more humanized species of market capitalism.
Papers that propose modifications to the institutional environment
of corporatism will also fit nicely with the conference theme.
AFIT encourages proposals from graduate students, and it is
anticipated that at least one and possibly more panels of graduate
student papers will be included in the program this year. In
addition, AFIT will continue to sponsor prizes for outstanding
student papers. A formal announcement of this year’s competition is
attached.
AFIT will continue the tradition of having one or more roundtables
that explores ideas, experiences, and materials to advance economic
education, from Institutional and other heterodox perspectives.
Participants in these roundtables are encouraged to submit their
materials for posting on the AFIT web site. Past contributions can
be found at
http://www.orgs.bucknell.edu/afee/afit/teaching_institutionalism.htm
AFIT is also receptive to proposals for panels to review and discuss
books recently published by AFIT members.
Anyone interested in attending the AFIT Conference or in finding out
more about the organization may visit the AFIT web site at
http://www.orgs.bucknell.edu/afee/afit/. Conference
registration information can be found at the WSSA web site
http://wssa.asu.edu.
You must be a member of AFIT to present a paper at the conference.
Annual dues are $25. Browse to Contact Mary Wrenn,
Secretary-Treasurer of AFIT, (
MaryWrenn@weber.edu ).
The Research Network Macroeconomics
and Macroeconomic Policies (FMM)
The Research Network Macroeconomics and Macroeconomic Policies (FMM)
organises its 13th conference on
‘The World Economy in Crisis – The Return of Keynesianism?’
30 – 31 October 2009, in Berlin.
The submission of papers in the following areas is encouraged:
- Global imbalances and the current crisis
- Financial crisis, real crisis and the risks of depression and
deflation
- Paradigm shift in macroeconomics – the return of Keynesianism?
- Economic policy reactions and the future relationship between the
market and the state
- Regulation of the financial sector from a Keynesian perspective
- Perspectives for a Keynesian New Deal
For the open part of the conference the submission of papers on the
general subject of the Research Network is encouraged as well. We
also ask for the submission of papers for graduate student sessions,
on the specific subject of this conference or on the general subject
of the Research Network.
Conference language is English. Selected papers will be published
after the conference.
Invited speakers include Philip Arestis, Jesus Ferreiro, Heiner
Flassbeck, Guiseppe Fontana, Jan Kregel, Thomas Palley, Robert
Pollin, Jan Priewe, Malcolm Sawyer and Jan Toporowski.
The deadline for paper proposals is 30 June 2009. Please send an
abstract (one page) to Susanne Stöger (
susanne-stoeger@boeckler.de ). Decisions will be made by
mid-August. Accepted papers should be sent in by 15 October to be
posted on the conference web page.
Organising Committee of the conference:
Sebastian Dullien (
dullien@fhtw-berlin.de ), Eckhard Hein (
eckhard.hein@hwr-berlin.de ), Peter Spahn (
spahn@uni-hohenheim.de )
, Achim Truger (
achim-truger@boeckler.de ), and Till van Treeck (
till-van-treeck@boeckler.de )
Coordinating Committee of the Research Network:
Sebastian Dullien (FHTW Berlin), Trevor Evans (Berlin School of
Economics), Jochen Hartwig (KOF/ETH Zürich), Eckhard Hein (Berlin
School of Economics), Hansjörg Herr (Berlin School of Economics),
Torsten Niechoj (IMK, Düsseldorf), Jan Priewe (FHTW Berlin), Peter
Spahn (University of Hohenheim), Engelbert Stockhammer (WU Wien),
Claus Thomasberger (FHTW Berlin), Achim Truger (IMK, Düsseldorf),
and Till van Treeck (IMK, Düsseldorf)
More on the Conference:
http://www.boeckler.de/33_94949.html
and on the Research Network:
http://www.boeckler.de/91434_36330.html
The Japanese Society for Post
Keynesian Economics
The Japanese Society for Post Keynesian Economics wish to activate
international activities and will hold an international seminar in
Tokyo over September 5-6, 2009 in cooperation with the Japanese
Reaserch Group of D. Ricardo.
The Ricardian- Post Keynesian Joint International Seminar
Language : English
September 5 : mainly Post Keynesian Topics, at Nishogakusha Univ. in
Tokyo
September 6 : mainly Interpretations of D. Ricardo, at Meiji
University
(
http://www.meiji.ac.jp/cip/english/ )
Proposals for paper presentation on the Post Keynesian Economics,
Topics on Keynes, Neo-Ricardian or Sraffian Economics, or
Interpretation of Ricardo are also welcome.
Anyone who wish to present a paper should submit an abstract of 300
words (in English) to the organizer with the information of the
title of the paper, author name, affiliation, e.mail address and
postal address.
Organizer : Takashi Yagi (Meiji University)
E.mail :
yagi8@kisc.meiji.ac.jp
FAX : +81-3-3296-2350
The deadline of submission will be by the end of June 2009. If you
have any questions or requirements, please contact with the above by
e.mail.
Our activities will be seen in the following URL:
http://www.kisc.meiji.ac.jp/~pk/pke.htm
You can check the announcements of the seminar in this website.
URPE Summer Conference, August 15 –
18, 2009
For more information about the Summer Conference program, fees,
transportation, etc., click here:
http://www.urpe.org/
Papers and workshops proposals are being accepted for the URPE 2009
Annual Summer Conference held August 15 - 18, 2009. The theme of
this year’s conference is “Economic Crises: Opportunities for
Radical Change.” Now is the time for Heterodox Economists of all
persuasions to find creative solutions and to do serious analysis
and speak out about the domestic and global economic recession and
financial crisis!
As always we are looking for Political Economy papers from all
disciplines (including at least sociology, political science, urban
studies, and anthropology in addition to economics). The conference
always has a mix of relatively more technical presentations of
Political Economy research from scholars and graduate students in
all stages of development with more popular and activist oriented
presentations. Political Economy papers that address the current
economic crises are encouraged, especially those that say something
about how the current crisis provides opportunities for radical
change. More general political economy submissions are of course as
every year warmly welcomed as well !!
Please consider forming a workshop with 2 to 4 papers on a common
theme that your and colleagues might be working on. Or just submit a
paper. Please send all submissions to: laura.ebert@marist.edu .
Workshops and papers will be accepted until all space is filled…
while last minute submissions are welcome they might not be accepted
if there is no space, so please get your submission in early.
Plenary 1:
RADICAL RESTRUCTURING AND INSTITUTIONS
The Current World Economic Crisis, Neoliberalism and the Role of
Finance Capital
Paul Cooney, Universidade Federal do Pará, Brazil
Rewriting the Book on Money and Banking
Jane D’Arista, Research Associate at PERI
Who Lost Wall Street? Should We Try to Find It Again?
Gerald Epstein, University of Massachusetts
The New Regional Financial Architecture in South America and its
Relation with the Current Crisis
Matias Vernengo, University of Utah
Plenary 2:
GRASSROOTS ORGANIZING AND RESPONSES
Uncovering the Costs of Employment-based Health Insurance
Jenny Brown, co-chair of the Alachua County Labor Party
(Gainesville, Florida) and project director, Redstockings of the
Women's Liberation Movement
Stopping Foreclosures and Evictions
Roxan McKinnon, Executive Director, City Life/Vida Urbana
Organizing the Urban Unemployed: From Mass Incarceration to a Green
Justice Economy
Aaron Tanaka, Director, Boston Workers Alliance
David Gordon Lecture:
FINANCE WITHOUT FINANCIERS:
PROSPECTS FOR RADICAL CHANGE IN FINANCIAL GOVERNANCE
Gerald Epstein, University of Massachusetts, Amherst & co-director,
PERI (Political Economy Research Institute)
International Walras Association 2010
Conference
Léon Walras (1834-1910) – Centennial Conference»
9 - 11 September 2010
Lyon – TRIANGLE - Université Lumière-Lyon 2
The International Walras Association 7th Conference will take place
from Thursday September 9th to Saturday September 11th, 2010 at the
University Lumière-Lyon 2, in Lyon, France.
The 2010 conference is of particular importance since it is part of
the centennial commemoration of Walras’s death, which occurred on
January 5th, 1910 at Clarens near Montreux, Switzerland.
Through a discussion of the various themes developed by Walras in
his writings of pure, applied and social economics, this conference
should allow a thorough reappraisal of Walras’s entire intellectual
output (and not exclusively his central contribution to general
equilibrium analysis). Among the various themes that could be
addressed, the organisers would particularly welcome contributions
on Walras’s theory of history, his analysis of the dynamics of
capitalism, crises, money, banks, public goods, natural monopolies
and externalities, social legislation and insurances, property
rights and taxes as well as free trade and protectionism.
Contributions on Walras’s intellectual networks, and notably his
international connections with his fellow economists, are equally
welcome.
Anyone interested should submit an abstract of 300 words (in French
or English) before July 31st, 2009 to the AIW vice-presidents Pascal
Bridel and Jean-Pierre Potier. Mail :
Pascal.Bridel@unil.ch ;
Jean-Pierre.Potier@ish-lyon.cnrs.fr
Propositions (under PDF) should be sent electronically and indicate
clearly title, author’s name, affiliation, postal as well as
electronic addresses.
2009 International Historical
Conference Critical Thought
International Forum: Social and Environmental Dimensions of the
Global Economic Crisis
Peschanoe (Crimea, Ukraine), 18-22 July 2009
This international gathering, organized at an ecological summer
campgrounds on the Crimean shore of the Black Sea, will bring
together scientists, scholars and political activists for a four-day
series of lectures, panels and round-tables devoted to the social
and environmental dimensions of the global economic crisis as well
as to various problems of theory, history and practice in the
context of Left anti-totalitarian thought.
Click
here for detailed information.
Top
Conferences, Seminars
and Lectures
ISHET – International Symposium on
the History of Economic Thought
“The Integration of Micro and Macroeconomics from a Historical
Perspective”
August 3-5, 2009
Department of Economics
University of São Paulo, São Paulo, Brazil
The Department of Economics at the University of São Paulo (Brazil)
is very pleased to invite you to attend the first international
symposium on the history of economic thought. The symposium is
organized by Professors Pedro Garcia Duarte and Gilberto Tadeu Lima
and aims to bring together renowned international and local scholars
in the field of history of economics to discuss historical aspects
of the integration between micro and macroeconomics. International
speakers include Kevin Hoover, Wade Hands, Philip Mirowski, Bruna
Ingrao, Michel De Vroey and Robert Leonard, while the opening speech
will be given by Robert J. Gordon. It is very likely that the
symposium will be both streamed live on internet and recorded (in
order to make the videos freely available on internet afterwards).
For further information on this (to be posted later) and for further
details, please check the symposium webpage.
Further information is available at:
http://www.usp.br/feaecon/ishet/
Forum the Spirit
of Innovation IV
We have the pleasure to announce the launching of the Forum the
Spirit of Innovation IV, 2010, with two international conferences:
*Labour, Capital and Knowledge in the Global Economy*, Grenoble
(France), March, 18-19, 2010
http://colloque.wesford.fr
**Environment, Innovation and Sustainable Development. Towards a
Technoeconomic Paradigm?**, Chania (Crete, Greece), October 6-10,
2010
http://www.ceisd2010.enveng.tuc.gr
The 41st Annual UK History of
Economic Thought Conference
The 41st Annual UK History of Economic Thought Conference, sponsored
by the Hallsworth Foundation for the Study of Political Economy,
will be held at Chancellors Hotel and Conference Centre, University
of Manchester, 2-4 September, 2009.
The conference will begin with lunch on 2 September and will close
after lunch on 4 September. The Fee is GBP 280, inclusive of
registration, accommodation and all meals (including the conference
reception and formal dinner). Further details, including the booking
form, are available by following this link:
http://www.socialsciences.manchester.ac.uk/disciplines/economics/events/hetc/.
Click
here to download the program.
Eastern Conference for Workplace
Democracy 2009
Registration for the
Eastern Conference for Workplace Democracy 2009--the premier
worker cooperative conference in the eastern region of the U. S.--is
open! The conference will take place Friday to Sunday, July 31st to
August 2nd, at Duquesne University in Pittsburgh. This year's theme
is Democracy Works: Worker Cooperatives, Labor Solidarity, and
Sustainability.
The deadline for early bird registration and payment, which saves
you $25, is Friday, June 26th. You can register online or by mail.
Link to the ECWD website:
http://www.east.usworker.coop/
Link to the conference brochure and on-line registration:
http://www.east.usworker.coop/registration.html
Link to mailable registration form:
http://www.east.usworker.coop/2009/ecwd_registrationform_2009.pdf
Link to the scholarship form:
http://www.east.usworker.coop/2009/ecwd_scholarshipapp_2009.pdf
Is Black and Red Dead?
September 7th and 8th, 2009
An academic conference organised and supported by the PSA Anarchist
Studies Network, the PSA Marxism Specialist Group, Anarchist
Studies, Capital & Class, Historical Materialism, Critique-Journal
of Socialist Theory.
Hosted by the Centre for the Study of Social and Global Justice, the
University of Nottingham
Click here
to download the program.
15th Workshop on
Alternative Economic Policies in Europe
Europe in Crisis: A Critique of the EU's Failure to Respond
organised by the Euro Memorandum Group.
This year, the workshop will be held in Berlin, from 25 - 27
September 2009.
Click
here for detailed information.
Top
Heterodox Conference Papers and Reports and Articles
Alternative Explanations of the
Operation of Capitalist Economy: Efficient Market Theory vs.
Keynes's Liquidity Theory
by Paul Davidson
Click here to
download the paper.
The Debate on the Developmental
State: Evidence from the Indian Software Industry
The Centre for Development Policy and Research is pleased to
announce the publication of Development Viewpoint #31, “The Debate
on the Developmental State: Evidence from the Indian Software
Industry”. The author, Jyoti Saraswati, Department of Politics,
Queen Mary, University of London, draws on a well documented case
study of the successful Indian software industry in staking out a
new position on the continuing debate on the preconditions for an
effective developmental state. One of his major points is that
supporters of such a state often assume, unrealistically, that
‘state autonomy’—namely, complete independence from vested political
and economic interests—is a prerequisite for successful state
interventions, such as in industrial policy.
Click here to download:
http://www.soas.ac.uk/cdpr/publications/dv/file51754.pdf.
CDPR’s other thought-provoking, diversified set of 30 Development
Viewpoints published during the last year are available on
http://www.soas.ac.uk/cdpr/publications/dv/
Top
Heterodox Journals and
Newsletters
Economia e Sociedade
Econ. soc.
vol.18 no.1 Campinas Apr. 2009
- Assessing the inflation targeting regime in Brazil
Arestis, Philip; Paula, Luiz Fernando de; Ferrari-Filho, Fernando
- Productive structure, external constraint and economic growth: the
Brazilian experience
Carvalho, Veridiana Ramos da Silva; Lima, Gilberto Tadeu
- Financial and currency crises: comparing Latin America and East
Asia
Aldrighi, Dante Mendes; Cardoso, André Daud
- The technological backwardness of Latin America as a consequence
of geographical and microeconomics related factors
Feldmann, Paulo Roberto
- The control of monetary aggregates: lessons and experiences from
the recent Venezuelan case
Vera, Leonardo V.
- Environmental value
Amazona, Maurício de Carvalho
http://www.scielo.br/scielo.php?script=sci_issuetoc&pid=0104-061820090001&lng=en&nrm=iso
Levy News
Special Report, June 12, 2009
Who Gains from President Obama's Stimulus
Package ... And How Much?
Ajit Zacharias, Thomas Masterson, and Kijong Kim
When President Obama signed the American Recovery and Reinvestment
Act (ARRA) in February, his administration estimated that the $787
million package of transfers and tax cuts would create or save
approximately 3.5 million jobs by the end of 2010, providing relief
to low-income and vulnerable households while supporting aggregate
demand.
In this Special Report, Levy scholars Zacharias, Masterson, and Kim
provide a preliminary assessment of ARRA that points toward the
necessity for a comprehensive employment strategy that goes well
beyond the current legislation. While the ameliorating impact of the
stimulus plan on the employment situation is surely welcome, say the
authors, the government could have achieved far more at the same
cost by skewing the stimulus package toward outlays rather than tax
cuts.
http://www.levy.org/pubs/sr_06-12-09.pdf
Public Policy Brief No. 101, 2009
Promoting Gender Equality through Stimulus
Packages and Public Job Creation: Lessons Learned from South
Africa’s Expanded Public Works Programme
Rania Antonopoulos
Beyond loss of income, joblessness is associated with greater
poverty, marginalization, and social exclusion; the current global
crisis is clearly not helping. There is, therefore, a particular
urgency to engage in dialogue and pursue new policy directions.
Research Scholar Rania Antonopoulos explores the impact of both
joblessness and employment expansion on poverty, paying particular
attention to the gender aspects of poverty and poverty-reducing
public employment schemes targeting poor women. The author advocates
public employment as a policy instrument that, when set up as a
permanent institution, acts as an automatic stabilizer. Its main
feature is that the government steps in as a guarantor to make
available a job to those who fail to secure one through the market.
http://www.levy.org/pubs/ppb_101.pdf
Policy Note 2009/8
Some Simple Observations on the Reform of the
International Monetary System
Jan Kregel
The rapid spread and global dimensions of the current financial
crisis have drawn attention to the need for reform of the
international financial system forged in 1944 at Bretton Woods. Most
of the attention has focused on the role of the U.S. dollar and the
need to find a substitute.
According to Senior Scholar Jan Kregel, discussions have ignored the
basic criticisms (by John Maynard Keynes and Robert Triffin) of the
functioning of the existing monetary system. The problem of the
instability of the international reserve currency’s purchasing power
is less a question of the asset that serves as that currency and
more a question of the operation of the international adjustment
mechanism. Is the mechanism automatic or coordinated, and is it
sufficiently compatible with global aggregate demand to provide full
employment and support the national development strategies of
developing countries?
http://www.levy.org/pubs/pn_09_08.pdf
Policy Note 2009/7
“Enforced Indebtedness” and Capital Adequacy
Requirements
Jan Toporowski
The present system of capital adequacy regulation for banks forces
nonfinancial companies into debt (“enforced indebtedness”) and
proposals to increase capital requirements during an economic boom
(“dynamic provisioning”) simply accelerate the boom’s collapse.
According to the author, a much more viable alternative is lending
to governments in the event of lending withdrawals from the private
sector, alongside loans to foreign private-sector borrowers. In this
way, capital outflows would be matched by new capital inflows to
governments and provide an endogenous stabilizing mechanism.
http://www.levy.org/pubs/pn_09_07.pdf
Working Paper No. 568, June 2009
Distributional Impact of the American
Recovery and Reinvestment Act: A Microsimulation Approach
Ajit Zacharias, Thomas Masterson, and Kijong Kim
The authors provide a preliminary assessment of the likely impact of
the American Recovery and Reinvestment Act (ARRA) on median
household income, gaps between population subgroups, and income
inequality (i.e., the employment channel). They find that ARRA
partially replaces lost jobs and has a remedial effect on median
household money income but is unlikely to restore robustness to
middle-class incomes or improve the money income of the bottom 60
percent of households. It is also unlikely that the legislation will
redress the substantial gaps in money income between nonwhites and
whites, single female–headed families and married couples, and
less-educated and college graduates. The analysis points toward the
necessity for a comprehensive employment strategy that goes well
beyond ARRA (e.g., an expanded role for public employment).
http://www.levy.org/pubs/wp_568.pdf
Working Paper No. 567, June 2009
Revisiting (and Connecting) Marglin-Bhaduri
and Minsky: An SFC Look at Financialization and Profit-led Growth
Claudio H. Dos Santos and Antonio Carlos Macedo e Silva
The stock flow–consistent (SFC) approach provides a general
framework that allows the integration of important threads of
heterodox macroeconomics that have tried to analyze the
financialization of modern capitalist economies. However, the urge
for realism has fostered the development of very large models and
relatively complex computer simulations. Moreover, these
short-period models are often used to shed light on long-period
phenomena.
The authors believe that small SFC constructs can avoid the
shortcomings of large models while addressing the concerns of
heterodox economists and providing valuable (and possibly
unconventional) insights into longer-period or dynamic phenomena.
The key to Post Keynesian, structuralist, and heterodox dynamic
analyses is using an approach that looks closely at the dynamics of
both the size and the composition of sectoral balance sheets, as
advocated by Levy Distinguished Scholar Wynne Godley.
http://www.levy.org/pubs/wp_567.pdf
Working Paper No. 566, May 2009
Caste and Wealth Inequality in India
Ajit Zacharias and Vamsi Vakulabharanam
Caste is a persistent determinant of power, economic inequality, and
poverty in contemporary India. The authors offset the general lack
of economic literature on caste relations by analyzing the
relationship between overall wealth inequality and caste divisions.
They find that the average Dalit and Adivasis groups had a
substantial disadvantage in wealth relative to other groups.
Moreover, the relative median wealth of the rural and urban Adivasis
group was lower in 2002 than in 1991. They also find an increase in
within-group inequality, and a sizable wealth gap between the Hindu
forward castes and everyone else. The picture that emerges is one of
comprehensive and persistent disparities for the disadvantaged
groups.
http://www.levy.org/pubs/wp_566.pdf
Working Paper No. 565, May 2009
Housing Inequality in the United States: A
Decomposition Analysis of Racial and Ethnic Disparities in
Homeownership
Sanjaya DeSilva and Yuval Elmelech
Homeownership is viewed as a key measure of economic well-being and
wealth, and a significant indicator of social assimilation. However,
it is unevenly distributed, particularly along racial and ethnic
lines.
The authors study the trajectory into homeownership of black, Asian,
white, and Latino households. They find that neoclassical economic
theory is insufficient in explaining racial and ethnic inequality,
and that immigration and spatial attributes are key to understanding
racial-ethnic differences in homeownership. Moreover, family
structure and unobserved factors such as prejudice and
discrimination may continue to play a role in shaping the
black-white homeownership gap.
http://www.levy.org/pubs/wp_565.pdf
Working Paper No. 564, May 2009
New Consensus Macroeconomics: A Critical
Appraisal
Philip Arestis
Senior Scholar Philip Arestis highlights the main characteristics of
a New Consensus Macroeconomics (NCM) model in an open economy, where
the role of the exchange rate provides a channel of monetary policy
in addition to aggregate demand and inflation expectations. He
raises a number of issues with the model’s theoretical foundations
and its inflation-targeting framework.
Two main weaknesses in the model are based on the absence of money
and banks, and the equilibrium real rate of interest. Arestis is
critical of the NCM model from a Keynesian perspective, and
concludes that it is based on inconsistencies and a great deal of
“ad hoc” input.
http://www.levy.org/pubs/wp_564.pdf
Working Paper No. 563, May 2009
Whither New Consensus Macroeconomics? The
Role of Government and Fiscal Policy in Modern Macroeconomics
Giuseppe Fontana
The current New Consensus Macroeconomic (NCM) model lays the
foundation for the ubiquitous inflation-targeting policy strategies
of modern central banks. In the face of recent dramatic economic
events and the inability of academics and policymakers to prevent
them, the NCM model has encountered significant criticism.
The author analyzes one of the main objections to the model; namely,
the absence of any essential role for the government and fiscal
policy. He concludes that fiscal policy could play a role in the NCM
model that is at least as important as monetary policy.
http://www.levy.org/pubs/wp_563.pdf
UPCOMING CONFERENCES
Employment Guarantee Policies: Responding to the Current Economic
Crisis and Contributing to Long-Term Development
Bard College, Annandale-on-Hudson, New York
June 22–23, 2009
A collaborative project of the United Nations Development Programme,
Regional Bureau for Latin America and the Caribbean and the Bureau
for Development Policy, in partnership with The Levy Economics
Institute of Bard College
The Levy Institute will convene an international conference to
present the merits and challenges of public job creation programs as
a constitutive component of an economic recovery strategy. The
conference will bring together policy advisers, members of
government organizations, academics, and international development
specialists to analyze and exchange views on various public
employment initiatives, drawing on extensive research and the
outcomes of country-level programs in South Africa, Argentina,
India, Iran, and Chile, among others.
9th GEM-IWG International Conference on Gender, Macroeconomics, and
International Economics: Gender and the Global Economic Crisis
Bard College, Annandale-on-Hudson, New York
July 13–14, 2009
Organized by the International Working Group on Gender,
Macroeconomics, and International Economics (GEM-IWG) and The Levy
Economics Institute of Bard College with support from the Ford
Foundation, the UNDP, and UNIFEM
This conference, which follows a two-week intensive seminar on the
same subject, is part of the GEM-IWG Knowledge Networking Progam,
which is designed to strengthen intellectual links among economists
whose work focuses on the interface of gender, globalization, and
macroeconomic policy. This year’s program centers on the origins and
consequences of the global economic downturn.
Associative Economics Bulletin
www.cfae.biz/fae-bulletin/09Jun/
1) Moral Sovereignty
2) Forthcoming Events
3) Associate! June 09 - Compete and Cooperate
4) The End of Money and The Future of Civilisation
International Review of Applied
Economics
Volume 23 Issue 4 is now available online at informaworld.
This new issue contains the following articles:
Original Articles
Comparing employment estimates using different minimum wage
variables: the case of Brazil, Pages 405 - 425
Author: Sara Lemos
Keynes, investment, unemployment and expectations, Pages 427 - 444
Authors: Ron Smith; Gylfi Zoega
A strong hysteretic model of Okun’s Law: theory and a preliminary
investigation, Pages 445 - 462
Authors: Dany Lang; Christian de Peretti
Market forces and competition in university systems: theoretical
reflections and empirical evidence from Italy, Pages 463 - 483
Author: Tommaso Agasisti
Government success, failure of the market: a case study of rural
India, Pages 485 - 501
Author: Santonu Basu
Modelling variety in consumption expenditure on food in India, Pages
503 - 519
Authors: Raghbendra Jha; Raghav Gaiha; Anurag Sharma
Testing exchange rate efficiency: the case of euro–dollar, Pages 521
- 540
Authors: Marco Mazzoli; Christian Barducci
Journal of Innovation Economics (JIE)
Journal of Innovation Economics (JIE) is an academic review in
English which presents in priority articles in economics
(innovation, industrial, international, labour economics).
This review also accepts contributions from other academic fields
such as law, management, political science,… when analyzing the
origins and implications of economic and social innovations.
JIE wants to be a forum where economy and society evolutions are
debated, while confronting theoretical analyses and empirical
experiences.
Technical change, entrepreneurs’ action, firm strategies, social
relationships and conflicts, economic policies, etc. lead to many
interrogations and articles are selected by Innovations editorial
and scientific committee because they contribute to the debate by
offering… innovative analyses!
JIE is co-edited by the Research Network on Innovation and by De
Boeck.
It is is downloadable on Cairn
JIE's Website :
http://rrien.univ-littoral.fr/?page_id=10
*2008/1: The economic performances of Russia *
http://www.cairn.info/revue-journal-of-innovation-economics-2008-1.htm
*2008/2: Dynamics of innovation, organisation and governance of the
firm
*
http://www.cairn.info/revue-journal-of-innovation-economics-2008-2.htm
*
2009/1 :Sustainable development and innovation. Concepts and context
*
http://www.cairn.info/revue-journal-of-innovation-economics-2009-1.htm
Innovations, Cahiers d'Economie de
l'Innovation
Innovations is linked to the Journal of Innovation Economics and
publishes articles in French
Innovations is published by De Boeck (Brussells). It is also
available on Cairn
Website of Innovations, Cahiers d'Economie de l'Innovation:
http://rrien.univ-littoral.fr/?page_id=50
*Content of issue n°29, 2009/1: Sustainable development and
innovation:
the responsability of enterprises*
http://www.cairn.info/revue-innovations-2009-1.htm
Content of all other issues:
http://www.cairn.info/revue-innovations.htm
HEI- History of Economic Ideas
This to inform the SHOE List that issue 1-2009 of HEI- History of
Economic Ideas has just been published:
http://digital.casalini.it/editori/default.asp?codice_opera=5554&numero=19&tipologia=R
Among the articles, review essays and book reviews, the issue
features an English translation by professor John Chipman of three
papers and two letters by Vilfredo Pareto, originally written in
German and French.
To celebrate this accomplishment, the editors and publisher of HEI
have decided to make available for free download, for a period of 30
days starting from June 8, one of those items, namely, Pareto's 1902
German Encyclopaedia article "Anwendungen der Mathematik auf
Nationalökonomie"
(here translated as "The application of mathematics to political
economy"). The file can be donwloaded directly from the homepage of
our journal's new website:
www.historyofeconomicideas.com.
Review of Social Economy
Volume 67 Issue 2 is now available online at informaworld.
This new issue contains the following articles:
Original Articles
Social vs. Military Spending: How the Escalating Pentagon Budget
Crowds out Public Infrastructure and Aggravates Natural
Disasters-the Case of Hurricane Katrina
Author: Ismael Hossein-zadeh
Articles
Consumer Debt and the Measurement of Poverty and Inequality in the
US*, Pages 127 - 148
Authors: Steven Pressman; Robert Scott
Recombinant Slave Equilibria and Their Cure: Living Wage Full
Employment
Author: Douglas Grote
Workers on the Border between Employment and Self-employment*
Authors: Ulrike Muehlberger; Silvia Pasqua
Book Reviews
The Transnational Politics of Corporate Governance Regulation
Author: Killian McCarthy
Fragments of Development: Nation, Gender, and the Space of Modernity
AIDS and the Ecology of Poverty
Author: Lorenzo Garbo
Frontiers of Capital: Ethnographic Reflections of the New Economy
Author: Benjamin Jewell
Joan Robinson's Economics: A Centennial Celebration
Author: Ingrid Rima
Aging Gracefully: Ideas to Improve Retirement Security in America
Author: Ali Alharbi
Cultures Merging: A Historical and Economic Critique of Culture
Author: Brad Andrew
Adam Smith's Moral Philosophy: A Historical and Contemporary
Perspective on Markets, Law, Ethics, and Culture
Author: Jonathan B. Wight
Taxation, Wage Bargaining, and Unemployment
Author: J. Harlan Johnstone
Obituary
Peter Danner, 1921-2008
Author: John B. Davis
Contributors
Call for Applications
William R. Waters Research grant
Journal of Economic Methodology
Volume 16 Issue 2 is now available online at informaworld
(http://www.informaworld.com).
This new issue contains the following articles:
Original Articles
Mismeasuring the value of statistical life
Author: Till Grüne-Yanoff
Buchanan's catallactic critique of Robbins' definition of economics
Author: Alain Marciano
Applying economics, using evidence
Authors: Roger E. Backhouse; Matthias Klaes
Pragmatic methodology: a sketch, with applications to transaction
cost economics
Author: Oliver E. Williamson
Exploring different visions of the model-empirics nexus: Solow
versus Lipsey
Authors: Robert S. Goldfarb; Jonathan Ratner
Ethics, evidence and international debt
Author: Julie A. Nelson
Fixing ideas: how research is constrained by mandated formalism
Author: Arthur M. Diamond Jr
Book Reviews
Review Symposium
Author: Ken Binmore
Original Articles
Listening, really listening: a response to Graafland, Binmore and
Ferber on The Bourgeois Virtues
Author: Deirdre McCloskey
Economic Systems Research
Volume 21 Issue 2 is now available online at informaworld.
This new issue contains the following articles:
PAPERS
THE TRANSPORT SECTOR AND REGIONAL PRICE DIFFERENTIALS: A SPATIAL CGE
MODEL FOR CHINESE PROVINCES
Authors: Asao Ando; Bo Meng
ON THE PARAMETERIZATION OF TECHNIQUES FOR REPRESENTING REGIONAL
ECONOMIC STRUCTURES
Author: Andrea Bonfiglio
APPLYING SOCIAL NETWORK ANALYSIS TO INPUT-OUTPUT BASED INNOVATION
MATRICES: AN ILLUSTRATIVE APPLICATION TO SIX OECD TECHNOLOGICAL
SYSTEMS FOR THE MIDDLE 1990s
Authors: Sandro Montresor; Giuseppe Vittucci Marzetti
THE RELATIVE PERFORMANCE OF FORMAL AND INFORMAL SECTORS IN INDIA
Authors: Amarendra Sahoo; Thijs ten Raa
MULTIPLICATIVE DECOMPOSITION AND INDEX NUMBER THEORY: AN EMPIRICAL
APPLICATION OF THE SATO-VARTIA DECOMPOSITION
Author: Paul De Boer
The European Journal of the History
of Economic Thought
Volume 16 Issue 2 is now available online at informaworld.
This new issue contains the following articles:
Articles
Interdependence and independence in Cantillon's Essai
Author: John Berdell
Bilateral monopoly: a contribution by Francesco Ferrara
Author: Gioacchino Fazio
The Italian contribution to early economic dynamics
Author: Gianfranco Tusset
Keynes and India, 1909-1913: a study on foreign investment policy
Author: Carlo Cristiano
Schumpeter on money, banking and finance: an institutionalist
perspective
Authors: Agnès Festré; Eric Nasica
Obituary
Professor Robert Denis Collison Black (1922-2008)
Authors: Antoin E. Murphy; Renée Prendergast
Review article
'If some people looked like elephants and others like cats, or fish
...' On the difficulties of understanding each other: the case of
Wittgenstein and Sraffa
Author: Heinz D. Kurz
Book reviews
The French Revolution and the Creation of Benthamism
Author: Marco E. L. Guidi
Le panoptique des pauvres - Jeremy Bentham et la réforme de
l'assistance en Angleterre
Author: Nathalie Sigot
A History of Econometrics in France. From Nature to Models
Author: Michel Armatte
Money and Markets: A Doctrinal Approach (Routledge Studies in the
History of Economics 86)
Author: David Laidler
Adam Smith: a Moral Philosopher and His Political Economy
Author: Tony Aspromourgos
Traité d'économie politique ou simple exposition de la manière dont
se forment, se distribuent et se consomment les richesses
Author: Alain Béraud
Top
Heterodox
Books and Book Series
Nice Work If You
Can Get It
Life and Labor in Precarious Times
By Andrew Ross, NYU’s Department of Social and Cultural Analysis
“There are no easy answers in Ross’s often surprising case studies
of work in the new millennium. His reach is global, from North
America to Europe to Asia, as he teases out the contradictory
character of contemporary employment.” Cary Nelson, University of
Illinois
"Ross takes us on a wide-ranging journey through the global economy
to analyze the dynamics of precarious work in the twenty-first
century. Along the way, he poses an urgent question: can
creative-class professionals make common cause with low-wage
laborers, based on their shared experience of economic insecurity?"
Ruth Milkman, University of California, Los Angeles
In Nice Work If You Can Get It, Andrew Ross surveys the new
topography of the global workplace and finds an emerging pattern of
labor instability and uneven development on a massive scale.
Combining detailed case studies with lucid analysis and graphic
prose, he looks at what the new landscape of contingent employment
means for workers across national, class, and racial lines — from
the emerging “creative class” of high-wage professionals to the
multitudes of temporary, migrant, or low-wage workers. Developing
the idea of “precarious livelihoods” to describe this new world of
work and life, Ross explores what it means in developed nations —
comparing the creative industry policies of the United States,
United Kingdom, and European Union, as well as developing countries
— by examining the quick fire transformation of China’s labor
market. He also responds to the challenge of sustainability,
assessing the promise of “green jobs” through restorative alliances
between labor advocates and environmentalists. Ross argues that
regardless of one’s views on labor rights, globalization, and
quality of life, this new precarious and “indefinite life,” and the
pitfalls and opportunities that accompany it is likely here to stay
and must be addressed in a systematic way. A more equitable kind of
knowledge society emerges in these pages” less skewed toward
flexploitation and the speculative beneficiaries of intellectual
property, and more in tune with ideals and practices that are fair,
just, and renewable.
Following Marx: Method, Critique and
Crisis
Michael A. Lebowitz
http://www.brill.nl/default.aspx?partid=210&pid=18166
What does it mean to follow Marx? In this examination of Marx’s
methodology combined with specific applications on topics in
political economy such as neo-Ricardian theory, analytical Marxism,
the falling rate of profit, crisis theory, monopoly capital, Paul
Sweezy, advertising and the capitalist state, this volume argues
that the failure to understand (or explicit rejection of) Marx’s
method has led astray many who consider themselves Marxists. By
focusing particularly upon the concept of a totality and the
necessary form of appearance of capital as many capitals in
competition, Following Marx both demonstrates why Marx insisted that
‘in competition everything is reversed’ and provides a guide for
following Marx.
Rethinking Foreign Investment for
Sustainable Development: Lessons from Latin America
Kevin P. Gallagher and Daniel Chudnovsky (eds)
Anthem Press 2009
Foreword by José Antonio Ocampo
After almost twenty-five years of experimenting with the neo-liberal
economic reforms collectively known as “Washington Consensus”
policies, Latin Americans are starting to re-assess the merits of
these policies – at the voting booth. Many recently elected
governments are beginning to scrutinize the role of foreign direct
investment (FDI) in particular. The great promise of FDI by
multinational corporations is that capital will be a source of
dynamic growth. In this collection of in-depth studies, Latin
American and U.S.-based political economists find that FDI often
fell far short of generating the necessary linkages required to make
FDI work for sustainable economic development.
Edited by GDAE’s Kevin P. Gallagher and the late Daniel Chudnovsky,
the book is the product of a study by the GDAE-sponsored Working
Group on Development and Environment in the Americas, which last
year published a policy report, in English, Spanish, and Portuguese,
summarizing the group’s findings. Several members of the group will
be presenting their papers at the Latin American Studies Association
Congress in Rio de Janeiro June 11. The group has also published
policy reports on agriculture and the environment.
For more on the new Anthem book:
http://www.ase.tufts.edu/gdae/Pubs/rp/RethinkForInv.html
For more on the Working Group on Development and Environment in the
Americas:
http://ase.tufts.edu/gdae/WGOverview.htm
For more on GDAE’s work on Mexico under NAFTA:
http://www.ase.tufts.edu/gdae/policy_research/MexicoUnderNafta.html
Embedded With Organized Labor
Journalistic Reflections on the Class War at
Home
by Steve Early
TO ORDER,
Click Here, or call 800.670.9499
Join author Steve Early for a talk on the most pressing issues
facing the U.S. labor movement today. Click here for a list of dates
and locations.
“Steve Early has long been a voice of distinctive clarity, honesty
and intellectual seriousness in and about the labor movement. This
collection performs a valuable service in bringing together a broad
sample of his writing on class, politics, the trade union movement,
its status and prospects. As always with Early’s work, these essays
are grounded in concrete history and problems. To that extent, they
also provide a unique window onto the last several decades of
evolving American political history. At a time like this it is all
the more important to have the benefit of a voice like his.”
—Adolph Reed Jr., Professor of Political Science, University of
Pennsylvania
“Steve Early says things other people in the labor movement would
like to say but don’t, because of protocol, fear of firing, or, if
truth be told, fear of afflicting the comfortable.”
—Jane Slaughter, Labor Notes
“This is an exciting collection that respects workers enough to
engage them in desperately needed discussions about union strategy.
It presents a radical defense of the working class and an
uncompromising critique of the labor movement as it exists today.”
—Sam Gindin, former Research Director, Canadian Auto Workers Union;
Packer Visitor in Social Justice in the Political Science Dept. at
York University, Toronto
“For three decades, Steve Early has been in the forefront of the
fight for worker power and union democracy. His experience as an
organizer gives him rare insight into the problems that unions
face.”
—Sal Rosselli, ex-President, SEIU/UnitedHealth Care Workers-West
Embedded With Organized Labor describes how union members have
organized successfully, on the job and in the community, in the face
of employer opposition now and in the past. The author has produced
a provocative series of essays—an unusual exercise in “participatory
labor journalism” useful to any reader concerned about social and
economic justice. As workers struggle to survive and the labor
movement tries to revive during the current economic crisis, this
book provides ideas and inspiration for union activists and friends
of labor alike.
Steve Early has been an organizer, strike strategist, labor
educator, and lawyer. He recently retired from his job as national
staff member of the Communications Workers of America. Early’s
articles, reviews, and op-ed pieces have appeared in The Nation, New
Politics, CounterPunch, The Progressive, American Prospect,
WorkingUSA, New Labor Forum, the New York Times, Wall Street
Journal, Los Angeles Times, Boston Globe, and many other
publications. He is currently completing a book on the role of 1960s
activists in American unions.
Heterodox Macroeconomics
Keynes, Marx and globalization
Edited by Jonathan P Goldstein, Michael G Hillard
http://www.routledge.com/books/Heterodox-Macroeconomics-isbn9780415778084
Heterodox Macroeconomics offers a detailed understanding of the
foundations of the recent global financial crisis. The chapters,
from a selection of leading academics in the field of heterodox
macroeconomics, carry out a synthesis of heterodox ideas that place
financial instability, macroeconomic crisis, rising global
inequality and a grasp of the perverse and pernicious qualities of
global and domestic macroeconomic policy making since 1980 into a
coherent perspective. It familiarizes the reader with the emerging
unified theory of heterodox macroeconomics and its applications.
The book is divided into four key sections: I) Heterodox
Macroeconomics and the Keynes-Marx synthesis; II) Accumulation,
Crisis and Instability; III) The Macrodynamics of the Neoliberal
Regime; and IV) Heterodox Macroeconomic Policy. The essays include
theoretical, international, historical, and country perspectives on
financial fragility and macroeconomic instability.
ZED Books- Development Studies
http://www.zedbooks.co.uk/books.asp?catid=275
Click here
to download the catalogue.
Development of Economic Analysis, 7e
By Ingrid H. Rima
Request an Inspection Copy Today!
Now in its seventh edition, Ingrid Rima's classic textbook charts
the development of the discipline from the classical age of Plato
and Aristotle, through the middle ages to the first flowering of
economics as a distinct discipline - the age of Petty, Quesnay and
Smith - to the era of classical economics and the marginalist
revolution.
http://www.routledge.com/9780415772921
The book then goes on to offer extensive coverage of the twentieth
century - the rise of Keynesianism, econometrics, the Chicago School
and the neoclassical paradigm. The concluding chapters analyze the
birth of late twentieth century developments such as game theory,
experimental economics and competing schools of economic thought.
This text includes a number of practical features:
- a "family tree" at the beginning of each section, illustrating how
the different developments within economics are interlinked
- the inclusion of readings from the original key texts
- a summary and questions to discuss, along with glossaries and
suggestions for further reading
Top
Heterodox Book Reviews
Lawrence E.
Mitchell, _The Speculation Economy: How Finance Triumphed over
Industry
San Francisco: Berrett-Koehler, 2008. xiii + 395
pp. $25 (paperback), ISBN: 978-1-57675-28-7.
Reviewed for EH.NET by J. Peter Ferderer, Department of Economics,
Macalester College.
Click here
to download the review.
The Case for Big
Government
Jeff Madrick. The Case for Big Government. Princeton University
Press, 2009. 205 pp. ISBN 978-0-691-12331-8 (Hardcover).
Reviewed by Michael Meeropol
Click
here to read the review.
Top
Heterodox
Web Sites and Associations
The International Adam Smith Society
The International Adam Smith Society now has a fully re-designed
website, with a wide range of news and information:
http://www.adamsmithsociety.net/
Please send along Smith-related events you'd like to publicize.
El Grupo de Investigación en
Pensamiento y Teoría Económica (GIPTE)
Los invito a visitar la página Web (en prueba) del Grupo de
Investigación en Pensamiento y Teoría Económica (GIPTE) de la
Universidad Nacional de Colombia. El link es
http://www.fce.unal.edu.co/facultad/gipte/
Agradecemos comentarios sobre la página y información que consideren
relevante para ser publicada al siguiente correo electrónico
gipte_fcebog@unal.edu.co
Charles Leopold Mayer Foundation
Initiative for Re-thinking the Economy
http://www.i-r-e.org/?lang=en
http://www.i-r-e.org/?lang=fr
http://www.i-r-e.org/spip.php?article82
Economic Perspectives from Kansas
City
UMKC economists have a new blog called Economic Perspectives from
Kansas City. The link is
http://neweconomicperspectives.blogspot.com/
This website offers policy advice and economic analysis from a group
of professional economists at the University of Missouri-Kansas
City. We created this site in order to weigh in on the serious
challenges facing the global economy today. We aim to provide an
accurate description of the cause(s) of the current meltdown as well
as some fresh ideas about how Congress, the U.S. Treasury and the
Federal Reserve should respond. Our approach, which has been dubbed
“The Kansas City School,” builds on the work of Abba P. Lerner, John
Maynard Keynes and Hyman P. Minsky. Above all, we are careful to
provide analyses and policy recommendations that are applicable
under a modern, fiat money system.
Top
For Your Information
Survey on
Education for Sustainable Development
Version 1.5 of a survey on education for sustainable development is
online. The objective is to gather an inventory of critical issues
that are unavoidable in sustainable development. Many interactions
between social, economic, environmental, and other factors are
included, but there may be more. *Hope you all can participate!*
This is the link:
http://spreadsheets.google.com/viewform?formkey=cnoyc2ZKeF9RSDFiQkw2eTZzdGszMGc6MA..
Make sure you click on "submit" at the end so that your responses
are recorded. If you want to take a look at the database:
http://spreadsheets.google.com/pub?key=rz2sfJx_QH1bBL6y6stk30g&output=html
The first link above has an intro. For more background info on
Version
1.5 and the previous versions of the survey:
http://www.pelicanweb.org/solisustv05n06page1.html
FYI, there is also a new article, very instructive and very timely:
Revisiting the Limits to Growth After Peak Oil, by Charles Hall and
John Day
http://www.pelicanweb.org/solisustv05n06page2halldayamsci.html
James Galbraith
A l'invitation d'Alain Parguez,
James Galbraith a fait une
conférence à Besançon dont vous trouverez un compte rendu de M. D.
Pichoud.
Videos from Professor Sidney
Winter
I have put a number of links to interesting videos on the SHE sight.
Most of these are from Professor Sidney Winter, well known
evolutionary economist, talking about aspects of the current crisis,
and also an ABC interview by myself on Rethinking Economics after
the financial crisis.
You can either access these from the SHE homepage:
http://she.web.unsw.edu.au
Or directly
http://www.economics.unsw.edu.au/contribute2/Economics/research/Heterdox/HeterodoxVideos.htm
The
Phillips Machine
If you have ever wanted to see Phillips’ MONIAC machine in action
check out this video from Cambridge:
http://mediaplayer.group.cam.ac.uk/component/option,com_mediadb/task,play/idstr,CU-AllanMcRobie-Phillips2004/vv,-2/Itemid,26
Maybe this is old hat, but I had never seen this thing in action and
didn’t imagine that it still existed.
Academics languish behind the
curve set by journalists
From Dr Hugh Goodacre.
Sir, Patrick Crowley (Letters, June 4) rightly deplores the “abject
failure of the mainstream economics profession to predict and
adequately respond to the current recession”, and singles out for
particular criticism “the gradual elimination of economic history
and history of economic thought”, citing as an example that “most
mainstream economists are hardly aware of Keynes’s legacy”.
In this country, a major contribution to this professional meltdown
has been made by the Research Assessment Exercise, as a result of
which economists have their path to promotion determined by the
number of articles they publish in a limited number of formally
ranked journals.
These articles are written almost exclusively by those who, in Prof
Crowley’s words, see economics as “a technical subject, more akin to
physics than other social sciences”. This is hardly surprising,
since it is precisely economists of this type who edit the journals
in question, and who “peer-review” each other’s articles.
The “academic” economics profession is well behind the curve set by
economics journalists, whose columns have in recent months been
buzzing with commentary on Marx, Keynes, Minsky and other writers
whose thought is so self-evidently relevant for any meaningful
discussion of the present severe and possibly even systemic crisis
in the economic system, but whose writings remain absent from the
curriculum of even our most “well-qualified” economists.
Hugh Goodacre,
Teaching Fellow,
University College London,
London WC1, UK
Copyright The Financial Times Limited 2009
Warren Samuels Prize
The Association for Social Economics (ASE), one of the founding
member organizations of the Allied Social Science Associations,
together with the Review of Social Economy, would like to invite
submissions for the 2010
Warren Samuels Prize
This prize is awarded to a paper, presented at the January ASSA
meetings, that best exemplifies scholarly work that:
• Is of high quality,
• Is important to the project of social economics, • Has broad
appeal across disciplines.
It is preferable, but not required, that the paper is presented at
one of the ASSA sessions sponsored by the Association for Social
Economics. Papers will not normally exceed 6,500 words (inclusive of
references, notes), and should follow the style guidelines for the
Review of Social Economy.
The winner of the prize will be announced during the ASE
presidential breakfast, to which the winner is invited. The winning
paper may, subject to peer review, be published in the subsequent
September issue of the Review of Social Economy. The winner of the
Warren Samuels Prize receives a $500 stipend.
The selection committee consists of:
A Past-President of ASE;
A Co-editor of the Review of Social Economy (Chair); A member of the
Editorial Board, Review of Social Economy.
Papers presented at the 2010 ASSA meetings in Atlanta, GA, in
sessions not restricted to sessions in the ASE programme, may be
send electronically, as a word or pdf attachment, to Wilfred Dolfsma,
Corresponding Editor, Review of Social Economy, before December 5th,
2009 at w.a.dolfsma@rug.nl.
Interview- Paul Davidson
An interview with Paul Davidson can be read here:
http://www.mecpoc.org/2009/04/06/interview-with-paul-davidson-regarding-the-crisis/
The Association for
Institutional Thought
Fifth Annual Student Scholars Award Competition
The Association for Institutional Thought (AFIT) proudly announces
the Fifth Annual AFIT Student Scholars Award Competition. The aim of
AFIT is to encourage undergraduate and graduate students in
Economics and Political Economy to pursue research in topics within
the Institutional Economics framework.
Between three and five winning papers will be selected. Winners are
expected to present their research during a special session at the
Annual Meetings of AFIT, held during the Western Social Science
Association’s 52st Annual Conference at the Grand Sierra Resort in
Reno, Nevada, April 14 - 17, 2010.
Winners will each receive:
1.$300 prize
2.One year student membership in AFIT
3.Paid WSSA Conference Registration
4.Paid admission to the AFIT Presidential Address Dinner
Winning papers must be presented at a special AFIT session in order
to be eligible for the prize. Prizes will be presented during the
AFIT Presidential Address Dinner.
Application Procedures and Deadlines
Papers must be between 25-40 pages in length, including references
and appendices. They should be submitted electronically (preferably
in Word format) by 12/15/09 to:
John F. Henry
Economics Department
UMKC
Kansas City, MO 64110-2499
Phone: (816) 235-1309
email: henryjf@umkc.edu
Winners will be notified by 1/15/10.
For more information about AFIT, visit our website at
http://www.orgs.bucknell.edu/afee/afit/AFIT%20Association%20for%20Institutional%20Thought.htm
The Nature of Capital in the
Knowledge-Based Economy
I just wanted to mention that I just finished a dissertation: "The
Nature of Capital in the Knowledge-Based Economy; The Case of the
Global Pharmaceutical Industry". It is in a fact a Veblenian
interpretation of the economic power of Big Pharma. Parts of the
analysis even received some media coverage, for example on ABC news:
http://abcnews.go.com/Video/playerIndex?id=4081712
I synthesized some of my points in an op-ed piece:
http://www.genengnews.com/articles/chitem.aspx?aid=2368
Economics for Equity and the
Environment Network (E3)
Never has there been a greater need for innovative thinking about
economics and the environment. Economics for Equity and the
Environment Network (E3) is looking to engage more economists who
subscribe to a vision of an engaged, practical economics, in which
an understanding of social equity and environmental protection
cannot be separated.
The goal of E3 Network is to develop new economic arguments for
environmental protection and to involve our economists more actively
in public policy. Our economists engage in innovative research,
publish in top journals and newspapers, testify before Congress,
participate in press conferences, and consult with decision makers
and NGOs on either a fee or pro bono basis. For a great example of
our projects, visit RealClimateEconomics.org, an online review of
the peer reviewed literature in economics that supports an immediate
and appropriate policy response to the climate crisis.
If you are interested in joining over a hundred other economists
across the country in these efforts, please sign up online for our
Green Economist Directory. Signing up doesn’t commit you to anything
and your contact information will never be shared with anyone
without your permission.
For more information about E3’s programs for economists and graduate
students, please visit our website or check out our spring 2009
newsletter (attached).
Center for the History of
Political Economy
Dear SHOE colleagues,
I am writing to you in my capacity as the new director of the
recently established Center for the History of Political Economy at
Duke University. I wanted to update you on the progress we have made
with the Center so far, and also to ask you for your help.
The purpose of the Center is to support research in, and the
teaching of, the history of political economy. The larger goal is to
revitalize an interest in the history of economic thought among
students and within the economics profession as a whole.
To support research, we have a fellowship program, which brings both
senior and junior research fellows to Duke for a semester or a year
to pursue their own research. Fellows come from around the world.
For example, in the 2008-2009 academic year Rob Van Horn (USA)
worked on a book on the origins of the Chicago Law and Economics
movement, Yann Giraud (France) developed further his research on
visualization in economics, Hansjoerg Klausinger (Austria) worked on
two volumes he is editing for the /Collected Works of F.A. Hayek/,
Aiko Ikeo (Japan) developed some papers for the Critical Biography
Series sponsored by the Society for the History of Japanese Economic
Thought, and Rob Leonard
(Canada) did initial research for a project investigating modernism
in the social sciences during the inter-war years. Next year there
will be two junior and four senior fellows in residence, as well as
a number of visitors coming for shorter stays.
Fellows and visitors have a number of resources on which to draw.
There are five faculty members at Duke who specialize in the history
of thought, and the Center has a number of affiliated faculty in
cognate areas at Duke and on other area campuses. We have an active
workshop series, weekly luncheons where work in progress is
discussed, and various special events. During the
2008-2009 academic year the last included a one day mini-conference
on Creative Communities in Economics, a panel discussion on “John
Maynard Keynes of Bloomsbury” held at the Nasher Art Museum (this
was the kick-off event for the Center), and the annual HOPE
conference, this one organized by Roger Backhouse and Philippe
Fontaine on “The Unsocial Social Science?
Economics and the Neighboring Disciplines Since 1945.” The
world-class combined Triangle Libraries system has extensive
holdings that are available to all Fellows through Duke's Perkins
Library, which is located literally footsteps away from the Center.
Fellows have workspaces assigned to them, either in the Center
itself or in private library carrels located in the library.
Finally, Duke is home to the Economists’
Papers Project, a collection which includes the papers of 8 Nobel
laureates in economics, as well as such luminaries as Carl Menger,
Oskar Morgenstern, Nicholas Geogescu-Roegen, Tibor Scitovsky, Arthur
Burns, Don Patinkin, Paul Davidson, and many others, as well as the
papers of the American Economic Association.
To support teaching, we encourage junior fellows to sit in on or
assist us with the many courses we offer at Duke. These courses may
also be taken by undergraduates or graduate students enrolled at two
neighboring universities, UNC-Chapel Hill and N.C. State. We are
also organizing a Summer Teaching Institute, to begin summer 2010,
that will be a sort of “Boot Camp” on the history of thought, aimed
at helping faculty who may not have had training in the field to be
able to offer a course in it. For more information on the various
initiatives of the Center, please visit our website at
www.econ.duke.edu/CHOPE
I hope that you will agree that the Center is an exciting new
development, and that you might be willing to help us to accomplish
our goals. So how might you help us?
1. First, if you have good undergraduate students with an interest
in the history of economic thought who might be going on to graduate
school in economics, please let them know about our program and let
them know that they can take courses in the field at Duke if they
enroll at Duke, UNC-Chapel Hill, or NC State.
2. Next, if you know of graduate students who want to do research in
the history of political economy and who might benefit from a year
at Duke, either as they finish up their dissertation or as a
post-doc, tell them about us.
3. If you have a colleague who might benefit from our Summer
Teaching Institute, let them know about us.
4. Finally, if you have a semester research leave or a sabbatical
year coming up and would like to explore the possibility of spending
all or part of it here at Duke, send me an e-mail or give me a call
¬ I’d be happy to discuss it with you.
We are excited about the prospects of building a community of
like-minded scholars here at Duke. I appreciate any support that you
might be able to give us to help us to reach our goals. Should you
be attending the upcoming HES meetings in Denver, I will be there
and will be happy to discuss with you any matters of interest
relating to the Center.
My best regards,
Bruce Caldwell
Center for
Global Justice
(Español abajo)
Hello to all the friends and supporters of the Center for Global
Justice!
As all of you know this year has been an exciting one for CGJ and it
keeps getting better! Hopefully all of you have received our most
recent newsletter, if not here is the link to check out what we have
been up to:
http://www.mynewsletterbuilder.com/tools/view_newsletter.php?newsletter_id=1409909941
We are working diligently to keep all our records and information up
to date on all our contacts and friends. We need your help! Can you
take a moment to send us your most updated information? We want to
be able to get in touch with you about programs, news, and
fundraising! It’s so important that we all stay connected. If you
could please take a minute and send us the following:
Name
Email (if this email is no longer correct of if you prefer another)
Phone
Address
It’ll just take a minute and will help us to keep in touch with
folks that much more. Thanks in advance.
Lydia Carey
Executive Director
The Center for Global Justice
Centro Para la Justicia Global
Estimados miembros y colaboradores de Centro Para la Justicia
Global,
Antes que nada reciban un caluroso saludo de todo el personal que
labora en el Centro. Como mucho de ustedes saben, este año ha sido
muy activo y emocionante. Aprovechamos este mensaje para, además de
saludarles, recordarles que el nuevo boletín lo pueden ver en la
siguiente dirección:
http://www.mynewsletterbuilder.com/tools/view_newsletter.php?newsletter_id=1409911183
Así mismo queremos solicitar su apoyo para mantener actualizada
nuestra base de datos y en caso de que tengan nuevo teléfono o
dirección hacérnoslo saber. De esta manera podremos contactarles
oportunamente e informarles a cerca de los eventos, programas,
noticias, recaudación de fondos, etc. Consideramos de suma
importancia poder localizarlos manteniendo así una comunicación
bidireccional.
Les agrademos tomarse el tiempo para llenar los siguientes datos:
1. Nombre completo
2. Email (en caso de que éste no esté correcto o utilice otra cuenta)
3. Número de Teléfono
4. Dirección
¡Sólo le tomará un minuto, el cual nos ayudará mucho!
¡Les agradecemos su participación! En la espera de su respuesta,
reciban nuevamente, un afectuoso saludo.
Lydia Carey
Executive Director
The Center for Global Justice
The Union of Concerned
Scientists
The Union of Concerned Scientists is engaging Pennsylvania
scientists and economists to emphasize the importance of taking
action to mitigate the worst effects of climate change in the
Commonwealth, and to point up the opportunities it offers for the
Commonwealth to become a leader in renewable energy technology.
Members of the Pennsylvania delegation represent key votes in the
climate debate.
The Pennsylvania Cover Letter to the Scientists and Economists' Call
for Swift and Deep Cuts in Greenhouse Gas Emissions will be
delivered to Pennsylvania representatives during the week of June
22nd and to senators later this summer or fall. The cover letter and
underlying statement are open to Pennsylvania Ph.D. or doctoral
candidate professionals with expertise relevant to our understanding
of the scientific and economic dimensions of climate change, its
impacts, and solutions.
If you meet these criteria, we ask that you become a supporter. To
read and sign the letter, visit
http://www.ucsusa.org/global_warming/what_you_can_do/pennsylvania-letter.html.
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