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Issue 85: July 20, 2009


From the Editor

Summer is upon those north of the equator and given the fine weather, heterodox economists seem more apt to be sitting in beer gardens and talking with friends than engaged in economics—which is a good thing. In the Newsletter there are some interesting call for papers and an interesting paper about understanding the financial crisis through accounting models. There are also a long list of new and recent books, many of which are in the Routledge Advances in Heterodox Economics book series. Finally, check out the FYI section as it has some rather interesting items, such as Haiku Economics by that wild and wacky economist Steve Ziliak.

Fred Lee

In this issue:
  Call for Papers
- SGE Annual Conference
- 13th SCEME Workshop in Economic Methodology
- MAFIN 09 First International Workshop on Managing Financial Instability in Capitalistic Economies
- The Financial and Monetary Crisis
- La Crise Financiere Et Monetaire
- COST- ESF Conference
  Conferences, Seminars and Lectures
- Work & Inequality in the Global Economy: China, Mexico, US
- Labour Underutilisation - Unemployment and Underemployment
  Heterodox Conference Papers and Reports and Articles
  - Understanding Financial Crisis Through Accounting Models
- The Downside of Financialisation of International Commodity Markets
Heterodox Journals and Newsletters
  - Challenge
- New Political Economy
- PERI Newsletter
- eInsight
- economic sociology
- Capitalism and Society
- Associative Economics Bulletin
- Journal of Post Keynesian Economics
- Cuadernos de Relaciones Laborales
  Heterodox Books and Book Series
  - Macroeconomic Methodology – a Post-Keynesian Perspective
- Never Good Enough
- Global Finance and Social Europe
- Keynes and his Battles
- Routledge Advances in Heterodox Economics Book Series
- The Coming of Age of Information Technologies and the Path of Transformational Growth
- Cultural Economics and Theory
- The Foundations of Non-Equilibrium Economics
- The Handbook of Pluralist Economics Education
- Informal Work in Developed Nations
- The Marginal Productivity Theory of Distribution
- Heterodox Macroeconomics
- A History of Heterodox Economics
- Radical Economics and Labour
- Currencies, Capital Flows and Crises
- Ontology and Economics
Heterodox Book Reviews
  - A History of Macroeconomic Policy in the United States
  Heterodox Graduate Program and PhD Scholarships
  - PhD Program "European Tradition in Economic Thought
  Heterodox Web Sites and Associations
  - Reading from the Left
- Association for Evolutionary Economics
  For Your Information
  - Tufts Institute to Award Annual Economics Prize
- Phillips Machine Again
- Underpayments to Consumers by the Health Insurance Industry
- Confessions of an Undergraduate Economics Student from Chicago
- Por uma realidade plural
- Conferencia de Franklin Serrano, sobre el patròn dolar flexible.
- crash -- Why it happened and what to do about it
- La Revue de l'Entreprise
- Haiku Economics
- Depression Blog
- Méfaits de l’euro

Call for Papers

SGE Annual Conference

Conference to be held on September 21, 2009
Department of Transportation Conference Center
1200 Washington New Jersey Avenue, SE, Washington, DC 20590

The Society of Government Economists will be organizing several sessions at our annual, one-day conference in Washington, DC. The Society’s motivation for organizing these sessions is to promote economic thought that will be beneficial to government economists. Specifically, sessions will be designed to inform and educate economists. They are intended to provide valuable contributions to existing knowledge and understanding of economic ideas, or to foster potential improvements in how economics is practiced. Such sessions should better enable economists to observe and understand the nature and causes of economic factors and events, which will, in turn, enhance their ability to contribute to public decision making.

For this purpose, the Society of Government Economists is now soliciting proposals for paper presentations and organized sessions. Sessions will typically involve the presentation of 3-4 papers, which are reviewed by discussants and allow for a question-and-answer period. This call for papers and sessions is open to all individuals who share the above-mentioned objectives. In the case of proposed, individual papers, the Society will organize selected papers into sessions and invite other individuals to serve as discussants in those sessions.

We greatly encourage proposals for papers and sessions, which will be evaluated under the following rules and conditions:

(1) Papers and sessions will be peer reviewed, in a double-blind process, on the basis of scientific merit, importance of the topic, insightfulness, uniqueness, and level of effort.

(2) Proposals will be evaluated and selected without regard for whether the applicants are government economists or members of the Society of Government Economists. The topics of the papers need not specifically address government policies or actions.

(3) There is no submission fee for proposing a paper or session. All conference attendees will be required, however, to pay the conference fee, which will be $45, which includes an annual membership to the Society of Government Economists and a lunch at the conference.

(4) Proposals for individual papers are encouraged in addition to proposals for organized sessions—the Society is prepared to organize individual papers into sessions.

(5) The deadline for submitting the proposed paper or session is July 23, 2009.

To apply to present a paper, fill out the form below, and for a session fill out the form for each paper proposed in the session, and email it to: Mark Ledbetter, Application Coordinator for the Selection Committee, Society of Government Economists,

Note: Applications already submitted to the Society of Government Economists for consideration in the American Economic Association meetings in January 2009, whether accepted or not, may be submitted as well, without the involvement of additional paperwork, for consideration in the SGE Annual Conference.

13th SCEME Workshop in Economic Methodology

"The Economics of Culture"
11-12 Sept 2009

The Stirling Centre for Economic Methodology (SCEME), in collaboration with the Scottish Institute for Research in Economics (SIRE), would like to invite proposals for contributions to the thirteenth workshop of a series in economic methodology.

The aim of the workshop is to bring students of culture and the creative industries together to discuss how to best approach and understand the economic dimensions of culture. We would therefore like to invite workshop contributions from any relevant perspective shedding light on this issue. Contributions may take the form of the presentation of a paper, presentation of work-in-progress, or an extended book or literature review.

We are pleased to announce that Ruth Towse, renowned expert of the creative industries and former editor of the Journal of Cultural Economics, has agreed to open the workshop with a guest paper.

For further details and registration form, see:

Proposals should take the form of a one-page outline of the intended contribution, and should be emailed, BY FRIDAY 17 JULY 2009, to: Matthias Klaes,

MAFIN 09 First International Workshop on Managing Financial Instability in Capitalistic Economies

Reykjavik (Iceland), September 3rd - 5th, 2009

Researchers are invited to submit a paper to the First International Workshop on Managing Financial Instability in Capitalistic Economies (MAFIN 09), to be held in Reykjavik (Iceland), September 3rd - 5th, 2009.

Click here for detailed information.

The Financial and Monetary Crisis

Rethinking Economic Policies and Redefining the architecture and governance of international finance”

DECEMBER 10-12, 2009
Université de Bourgogne, Laboratoire Economie Gestion (Dijon, France)

Deadline for Proposals : July 30th, 2009
Decision from the Committee: August 30th, 2009
Deadline for sending papers: November 15th, 2009

Click here for detailed information.

La Crise Financiere Et Monetaire

Repenser la politique économique et redéfinir l’architecture et la gouvernance de la finance internationale”

10-12 DECEMBRE 2009
Université de Bourgogne, Laboratoire Economie Gestion (Dijon, France)

Date limite pour l’envoi de propositions : 30 Juillet 2009
Décisions du comité de selection : 30 Août 2009
Date limite pour l’envoi des papiers retenus: 15 Novembre 2009

Cliquez ici pour des informations détaillées.

COST- ESF Conference

Systems Chemistry II: Evolution and Systems
Anna Grand Hotel, Balatonfüred (Lake Balaton) Hungary
18-23 October 2009

The conference will focus on the unifying organisational and dynamic principles that link systems chemistry with other fields of science. Presentations will go beyond chemistry, but will also allow participants to learn new ways of thinking about chemistry.
Click here for detailed information.


Conferences, Seminars and Lectures

Work & Inequality in the Global Economy: China, Mexico, US

Registration is open: "Work & Inequality in the Global Economy: China, Mexico, US", UCLA, Oct. 2009

We invite you to register for this conference, to take place October 8-10, 2009 at UCLA in Los Angeles, California. We will focus on comparisons and connections between China, Mexico, and the United States. Speakers at the conference will include scholars and activists from all three countries, including:
* China: Shen Yuan (Tsinhua University), He Gaochao (Zhongshan University)
* Mexico: Enrique Dussel Peters (National Autonomous University, UNAM), Betha Lujan (Authentic Labor Front, FAT)
* US: former Labor Secretary Ray Marshall, Maria Elena Hincapié ( National Immigration Law Center)

Major themes of the conference include:
* The impact of economic and environmental crisis on workers
* The role of TNCs
* Migration trends and impacts
* Prospects for labor law reform and labor rights
* Strategies for overcoming inequality

For more information and to register, please visit
or contact Joanna Lukowicz,

Labour Underutilisation - Unemployment and Underemployment

3-4 December 2009
University of Newcastle, NSW

For more information regarding the conference, registration and papers, please visit our website:


Heterodox Conference Papers and Reports and Articles

Understanding Financial Crisis Through Accounting Models

Dirk J Bezemer, University of Groningen

The Centre for Development Policy and Research is pleased to announce the publication of Development Viewpoint #32, “The Downside of ‘Financialisation’ of International Commodity Markets”. Focusing on the international coffee market, the author, Susan Newman, Department of Economics, SOAS, and University of Witwatersrand, Johannesburg, reveals how increased futures trading by financial investors has distorted the relationship between prices and conditions of supply and demand in international commodity markets. As a consequence, large international trading companies, having the financial capacity to engage in such speculation, have gained considerable market power while local producers and traders in developing countries have suffered from unstable and relatively low prices.

Click here to download the paper.

The Downside of Financialisation of International Commodity Markets


Heterodox Journals and Newsletters


Volume 52 Number 4 / July-August of Challenge is now available on the web site at

This issue contains:
Letter from the Editor
Jeff Madrick

On the Need for Professional Economic Ethics
George DeMartino

Honesty and Integrity in Academic Economics
Thomas Mayer

Rhetoric Matters: Ethical Standards in a Humanistic Science of Economics
Deirdre McCloskey

America's Response to a Deep Recession
Robert Blendon, John Benson

Macroeconomic Policy Challenges and Choices in a Time of Crises: Part II: Fiscal Policy and Policies for "Recovery"
Allen Sinai

The Great Depression, the New Deal, and the Current Crisis
Alexander Field

A Ode on Poverty
S. Subramanian

Review: The Great Delusion—A Mad Inventor, Death in the Tropics, and the Utopian Origins of Economic Growth, by Steven Stoll
José A. Tapia Granados

Mike Sharpe

New Political Economy

Volume 14 Issue 2  is now available online at informaworld ( ).

This new issue contains the following articles:


An Historical Materialist Appraisal of Friedrich List and his Modern-Day Followers
Author: Ben Selwyn

Making the State Change Its Mind – the IMF, the World Bank and the Politics of India's Market Reforms
Author: Mitu Sengupta

The Marketisation of Social Justice: The Case of the Sudan Divestment Campaign
Author: Susanne Soederberg

North Korea: Market Opportunity, Poverty and the Provinces
Author: Hazel Smith

Privatisation as State Advance: Private Indirect Government in Vietnam
Author: Martin Gainsborough


Towards a New Bretton Woods? The First G20 Leaders Summit and the Regulation of Global Finance
Authors: Eric Helleiner; Stefano Pagliari

Global Monitor

Shaping Global Rules: Proprietary Pharmaceutical Companies as Global Political Actors
Author: Valbona Muzaka

Feature Review
Author: Chris Gregory

PERI Newsletter


- The Economic Impacts of Carbon Capping Policies
- Proceedings from the March Conference in Honor of Azizur Khan
- PERI Authors in Print
- PERI Working Papers

Click here for detailed information.


Economics Update Bulletin, July 09'

In This Issue

- Positive survey evidence increases
- Oil rallying on signs of global recovery
- But unemployment is rising
- And will be for a long time after the recession ends

economic sociology

the european electronic newsletter
Current Issue: Vol. 10, No. 3 - July 2009

Note from the Editor

Dear reader,

This issue of the Newsletter focuses on intersections between economic sociology and law. The "economic sociology of law" is a field of study that, as Laura Ford and Richard Swedberg argue in the introductory essay in this Newsletter, has only fairly recently regained attention. This is despite the classic writings of Max Weber, who, more than nine decades ago, gave great importance to this field.

In their opening article, Ford and Swedberg take stock of more recent studies that have examined the role of law in economy and society, and outline areas that in their view warrant more attention, such as Roman Law and Financial Law. Yves Dezalay and Bryant Garth analyze "the economy of legal practice as a symbolic market", comparing and contrasting processes of social, relational and financial capital conversion in the legal fields of the U.S., Europe and the "global South". Laura Ford devotes attention to the role of law in relation to property, arguing that property is simultaneously a fundamental threat as well as a necessary corollary to the existence of social groups. Sabine Frerichs discusses connections and disconnections between economic sociology, socio-legal studies and economic analyses of law.

Further, we have two interviews. One interview was conducted with Gunther Teubner, an eminent sociologically-minded legal scholar, who has written extensively on the social theory of law, contract law, networks, transnational governance and constitutionalism. The other interview was conducted with French economic sociologist Philippe Steiner, the next editor of the Newsletter. The interview has been reprinted with kind permission from the Society for the Advancement of Socio-Economics (SASE). In the interview, Steiner discusses the state of the art of eco-nomic sociology in France and gives insight into his recent work on the market for human body organs. From November 2009, Philippe Steiner will take over the editorship of the Newsletter with associate editors Sidonie Naulin and Nicolas Milicet (Université Paris-Sorbonne). We welcome him and his team and look forward to reading their next issue.

As in previous issues, Brooke Harrington edited the book review section, and I would like to thank her for all her work. Lotta Björklund Larsen, Marc Lenglet and Sebastian Botzem provide summaries of their doctoral research projects, which investigate the justification of illicit work in Sweden, compliance work in equity brokerage houses, and the politics of international accounting standard setting, respectively.

This is my last issue as Editor. I would like to thank all contributors to Volume 10 of the Newsletter. I would also like to thank Rita Samiolo (LSE) and Christina Glasmacher (MPIfG) for helping me to put the issues together, and I thank the Editorial Board for all their support.

Please continue to submit material that you think should be published in the Newsletter. Materials for the November issue should be send to one of the following email addresses:,,

With best wishes for a fruitful summer,

Andrea Mennicken


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

Capitalism and Society

David Hume and Modern Economics
Sheila C. Dow

Nietzsche and the Economics of Becoming
Richard Robb

Discussions and Commentaries
Comment on "David Hume and Modern Economics" (by Sheila Dow)
Carl Wennerlind
Comment on "Nietzsche and the Economics of Becoming" (by Richard Robb)
James J. Heckman

Reader Responses
Response to James Heckman's Comment
Richard Robb

Capitalism and Society (supported by a generous grant from the Kauffman Foundation) provides an outlet for scholarly work that advances the goals of the Center whose length, subject matter, approach, etc. might preclude publication in a standard journal. We want to stimulate and provide a forum for discourse for ideas that may not be proven beyond a reasonable doubt. Accordingly we will publish papers along with the commentary of a reviewer, leaving room for "agreement to disagree."

New Book
Capitalism and Society, the Journal of Columbia University's Center on Capitalism and Society, is pleased to announce the recent publication of a new book by one if its members, Robert Shiller, the Arthur M. Okun Professor of Economics at Yale University.

Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism

George A. Akerlof and Robert J. Shiller

The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, "animal spirits" are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity.

About this journal
Unique among economics journals, Capitalism and Society focuses on what makes capitalism dynamic: innovation and entrepreneurship. Topics include ownership, corporate control, entry and venture capital, the discovery process, and commercial performance. While these topics have been studied from a micro-perspective, Capitalism and Society breaks new ground as the only mainstream forum that discusses how capitalism works from a broad social science perspective. Editors of this peer-reviewed journal include some of the best-known and most widely-published scholars in the fields of economics, business, and law, such as Jeffrey Sachs, Special Advisor to the U.N.; Joseph Stiglitz, former World Bank chief economist and Nobel Prize recipient; Glenn Hubbard, former chairman of President's Council of Economic Advisers; as well as highly regarded economists Richard Nelson, Robert Shiller, and Edmund Phelps, who was recently awarded the 2006 Nobel Prize in Economics.
Capitalism and Society is indexed in EconLit, Intute, RePEc, Sociological Abstracts, and Worldwide Political Science Abstracts.

Associative Economics Bulletin

July 2009
1) Public Benefit
2) Associative Economics Research Fund - online
3) Associate! July 2009
4) Journal Index and Back-catalogue: 1980-2009
1) Public Benefit
This month we look at the question of public benefit. Under this heading, those responsible for overseeing the not-for-profit sector are redefining what it means to be a charity. Much reliance is placed on this term, although its legal meaning remains undefined. More crucially, its larger socio-historical and even economic significance is uncertain, which is what the current dition of Associate! addresses.

Journal of Post Keynesian Economics

Volume 31 Number 4 / Summer 2009 of Journal of Post Keynesian Economics is now available at 

This issue contains:
Special symposium of discretionary fiscal policy: fiscal policy is back!
Philip Arestis, Giuseppe Fontana

Fiscal and interest rate policies in the "new consensus" framework: a different perspective
Malcolm Sawyer

The consensus view on interest rates and fiscal policy: reality or innocent fraud?
Alvaro Angeriz, Philip Arestis

The transmission mechanism of fiscal policy: a critical assessment of current theories and empirical methodologies
Giuseppe Fontana

Fiscal policy in the monetary theory of production: an alternative to the "new consensus" approach
p. 605
Guglielmo Forges Davanzati, Andrea Pacella, Riccardo Realfonzo

Fiscal and monetary policy interactions: lessons for revising the EU Stability and Growth Pact
Mark Setterfield

Fiscal policy is back in France and the United Kingdom!
Jérôme Creel, Paola Monperrus-Veroni, Francesco Saraceno

Origins of banking crises in Latin America: a critical view
Wesley C. Marshall

Sen's capability approach and Post Keynesianism: similarities, distinctions, and the Cambridge tradition
Nuno Ornelas Martins

Is there a growth imperative in capitalist economies? a circular flow perspective
Mathias Binswanger

Cuadernos de Relaciones Laborales

Adjuntamos un fichero con el sumario de Cuadernos de Relaciones Laborales Vol. 27, num.1, 2009, “La responsabilidad social empresarial en Europa y las corporaciones transnacionales”, coordinado por Joaquín Aparicio Tovar, Margarita Barañano Cid y Berta Valdés de la Vega, que se publicará próximamente.

Así mismo le recordamos los títulos de los últimos números:
Cuadernos de Relaciones Laborales, Vol. 26, núm. 2, 2008, “Domesticación del trabajo”
Mª Jesús Miranda López, Mª Teresa Martín Palomo y Matxalen Legarreta Iza (Coordinadoras)

Cuadernos de Relaciones Laborales,Vol. 26, núm. 1, 2008, “Globalización y Sindicalismo”
Fausto Miguelez (Coordinador)

El contenido de todos los números de Cuadernos de Relaciones Laborales, puede consultarse directamente en el Portal de revistas Científicas de la UCM en la página:

Un cordial saludo,

Cuadernos de Relaciones Laborales
Escuela de Relaciones Laborales
Universidad Complutense de Madrid
Tfno.: (34) 91 394 66 25


Heterodox Books and Book Series

Macroeconomic Methodology – a Post-Keynesian Perspective

By Jesper Jespersen, Professor
Roskilde University, Denmark 

Jesper Jespersen presents a treatise on the importance of the choice of methodology within macroeconomics. Given that no scientifically based macroeconomic policy recommendation should be established without an evaluation of the methods employed, this book gives a clear exposition of how proper macroeconomic analysis should be undertaken. Furthermore, it is convincingly argued that on of the lasting contributions of John Maynard Keynes was his emphasis on methodology; that macroeconomic consequence of uncertainty could not be analysed within the established general equilibrium framework. It is due to post-Keynesian economics supported by critical realism that the understanding of Keynes' methodology has been resurrected, which has eventually resulted in renewed debate on realistic macroeconomic policies to restore full employment without inflation. "Macroeconomic Methodology" is an inquiry into the question of how to conduct a proper scientific analysis of uncertainty within macroeconomics. It will be of great interest to scholars of the philosophy of social sciences and methodology, as well as post-Keynesian and heterodox economists.

Never Good Enough

Ariel Ducey, Never Good Enough: Health Care Workers and the False Promise of Job Training. Cornell University Press, 2009.

Description: In Never Good Enough, Ariel Ducey assesses the investment of hundreds of millions of dollars for training and educating frontline health care workers in New York beginning in the mid-1990s. In her thoughtful and provocative critique, Ariel Ducey explores the history and the extent of job training initiatives for health care workers and lays out the political, economic, and emotional significance of these programs beyond the obvious goal of career advancement.

Examining the most heavily funded training programs, she argues that both the content of many training and education programs and the sheer commitment of time they require pressure individual health care workers to compensate for the irrationalities of America's health care system, for the fact that caring labor is devalued, and for the inequities of an economy driven by the relentless creation of underpaid service jobs. In so doing, the book also analyzes the roles that unions--particularly SEIU 1199 in New York--and the city's academic institutions have played in this problematic phenomenon.

The book is based on Ducey's three years as an ethnographer in several hospitals and in-depth interviews with key players in health care training. It argues that training and education cannot be a panacea for restructuring—whether in the health care sector or the economy as a whole.

Global Finance and Social Europe

Edited by John Grahl, Professor of European Integration, Middlesex University Business School, UK

Edward Elgar, New Directions in Modern Economics series

June 2009 352 pp Hardback 978 1 84720 643 5 £79.95 

With global finance reshaping the world economy, this insightful new book provides a full account of the EU’s financial integration strategy, together with a critical assessment arguing the case for social control over global finance. Written by acknowledged experts in European finance, this book discusses key issues from finance to general social developments, encompassing social security systems, employment relations, household saving and borrowing, and the question of economic stability. Thus far, America has been pre-eminent both in global financial markets and international banking – so how should the European Union meet this challenge? Global Finance and Social Europe constructively argues that an active response is required and highlights the importance of an integrated European financial system.
Aimed at an international audience, this book will strongly appeal to researchers, academics and readers who share an interest in European integration and global economic issues.

Contributors include: T. Block, T. Evans, M. Frangakis, J. Grahl, J.
Huffschmid, P. Lysandrou, D. Plihon, J. Toporowski

Keynes and his Battles

Gilles Dostaler, Université du Québec à
Montréal, Canada
‘A satisfying and highly readable book, especially for non-economists and non-British readers approaching Keynes from a wider perspective. . . Dostaler’s book is also quite accessible and should be of interest to undergraduates as well as the more specialized reader. . . the interpretative exposition is meticulously researched, original and lucid.’
– M.G. Hayes, EH.Net
Contents: 1. Introduction 2. Ethics: The Sources of Keynes’s Vision First Interlude: Bloomsbury and the Apostles 3. Knowledge: Uncertainty, Probabilities and the Moral Sciences 4. Politics: Beyond Liberalism and Socialism Second Interlude: The Political History of Great Britain During the Time of Keynes 5. War and Peace: From the Boer War to Versailles 6. Money: Economic Motor and Social Pathology 7. Labour: The Battle Against Unemployment 8. Gold: An International Monetary System in the Service of Humanity 9. Art: Theoretician, Consumer and Patron of the Arts 10. Conclusion: From Keynes to Keynesianism Appendix 1. Keynes and his Time: Chronology Appendix 2. Maynard as Seen by his Friends and Contemporaries Bibliography Index

Download the flyer: GB US 

Routledge Advances in Heterodox Economics Book Series

The Coming of Age of Information Technologies and the Path of Transformational Growth

A long run perspective on the late 2000s recession
By Davide Gualerzi   

In this book, Davide Gualerzi employs the concept of transformational growth to explore the investment-driven cycle of expansion of the 1990s in the US economy, and of the of role played by the ICT sector.

The book articulates a view of demand-led growth in which the focus is on effective demand, the composition of the growth process and the link between changing composition and expansion.

Cultural Economics and Theory

The evolutionary economics of David Hamilton
David Hamilton, Glen Atkinson, William M Dugger, William T Waller Jr.
David Hamilton is a leader in the American institutionalist school of heterodox economics that emerged after WWII. This volume includes 25 articles written by Hamilton...
To be published 09/22/2009 | 978-0-415-49091-7

The Foundations of Non-Equilibrium Economics

The principle of circular and cumulative causation
Sebastian Berger
This thought-provoking volume seeks to answer some of the ultimate economic questions in terms of a theory that emerged with Adam Smith and is now...
To be published 07/14/2009 | 978-0-415-77780-3

The Handbook of Pluralist Economics Education

Jack Reardon
This book provides a blueprint for those interested in teaching from a pluralist perspective, regardless of ideology. It provides educators, policy makers and students with...
To be published 07/10/2009 | 978-0-415-77762-9

Informal Work in Developed Nations

Enrico Marcelli, Colin C Williams, Pascale Joassart
Almost everyone residing in a developed nation knows someone who has engaged in paid work that is licit but not reported to the government (e.g.,...
To be published 07/07/2009 | 978-0-415-77779-7

The Marginal Productivity Theory of Distribution

A Critical History
John Pullen
The Marginal Productivity Theory of Distribution (MPTD) claims that in a free-market economy the demand for a factor of production will depend upon its marginal...
Published 06/24/2009 | 978-0-415-48712-2

Heterodox Macroeconomics

Keynes, Marx and globalization
Jonathan P Goldstein, Michael G Hillard
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...
Published 05/28/2009 | 978-0-415-77808-4

A History of Heterodox Economics

Challenging the mainstream in the twentieth century
Frederic Lee
Economics is a contested academic discipline between neoclassical economics and a collection of alternative approaches, such as Marxism-radical economics, Institutional economics, Post Keynesian economics, and...
Published 03/10/2009 | 978-0-415-77714-8

Radical Economics and Labour

Essays inspired by the IWW Centennial
Frederic Lee, Jon Bekken
To celebrate the centenary of the most radical union in North America - The Industrial Workers of the World - this collection examines radical economics...
Published 01/23/2009 | 978-0-415-77723-0

Currencies, Capital Flows and Crises

A post Keynesian analysis of exchange rate determination
John T Harvey
Breaking from conventional wisdom, this book provides an explanation of exchange rates based on the premise that it is financial capital flows and not international..
Published 12/22/2008 | 978-0-415-77763-6

Ontology and Economics

Tony Lawson and His Critics
Edward Fullbrook
This original book brings together some of the world's leading critics of economics orthodoxy to debate Lawson's contribution to the economics literature. The debate centres...
Published 10/21/2008 | 978-0-415-47613-3


Heterodox Book Reviews

A History of Macroeconomic Policy in the United States

John H. Wood, _A History of Macroeconomic Policy in the United States_. London: Routledge, 2008. xiii + 221 pp. $150 (hardcover), ISBN: 978-0-415-77718-6.

Reviewed for EH.NET by David C. Wheelock, Federal Reserve Bank of St. Louis.

Heterodox Graduate Program and PhD Scholarships

PhD Program "European Tradition in Economic Thought"

The "Dipartimento di Studi sullo sviluppo economico"
( and the "Scuola di Dottorato" of the University of Macerata ( invites applications from students wishing to undertake a three-year programme leading to a doctoral degree in the field of the "European Tradition in Economic Thought".
- Applications can be downloaded from: ---> "Bandi di Concorso e Graduatorie".
- Applications should reach the University of Macerata before the deadline (September, 4, 2009).


Heterodox Web Sites and Associations

Reading from the Left


Online Now:

READING FROM THE LEFT is a new website, created to promote and distribute contemporary socialist books and pamphlets.

It will feature free PDF downloads of pamphlets, reviews and announcements of socialist books, free PDF downloads of book chapters, and in some cases entire books.

This is a non-commercial project: the website links to places where titles can be purchased, but it does not sell pamphlets or books directly.

The initial response from publishers has been excellent. The site already includes free downloads from:

**Monthly Review Press
**Resistance Books (Australia)
**Resistance Books (UK)
**Socialist Voice
**Socialist Project

More titles are in preparation.

Please take a look --

Comments and suggestions are very welcome.

Association for Evolutionary Economics
The Association for Evolutionary Economics (AFEE) is an international organization of economists and other social scientists devoted to analysis of economics as evolving, socially constructed and politically governed systems. AFEE publishes the Journal of Economic Issues (JEI).

The intellectual heritage of AFEE is that of the Original Institutional Economics (OIE) created and developed by early twentieth-century economists such as Thorstein Veblen, John R. Commons, and Wesley Mitchell. Over recent decades, this legacy has evolved to address such contemporary issues as:

- The role of diverse cultures in economic performance.
- Domestic and international inequalities of income.
- The roles of social, economic and political power in shaping economic outcomes.
- Globalization and the increasing weight of multinational corporations in the international economy.
- The need for expanding use of modern technologies to relieve want.
- The urgent need to for awareness of the impact of new technology on the biosphere.
- The ways in which economic thought is affected by and affects always changing economics.


For Your Information

Tufts Institute to Award Annual Economics Prize

to Bina Agarwal and Daniel Kahneman
June 24, 2009
Tufts University’s Global Development and Environment Institute announced today that it will award its annual Leontief Prize for Advancing the Frontiers of Economic Thought to Bina Agarwal of Delhi University in India and Daniel Kahneman of Princeton University. The award ceremony will take place in Spring 2010 at Tufts University and will feature lectures by the prize winners.

The Global Development And Environment Institute (GDAE), which is jointly affiliated with Tufts’ Fletcher School of Law and Diplomacy and Graduate School of Arts and Sciences, inaugurated its economics award in 2000 in memory of Nobel Prize-winning economist and Institute advisory board member Wassily Leontief, who had passed away the previous year. The Leontief Prize for Advancing the Frontiers of Economic Thought recognizes economists whose work, like that of the institute and Leontief himself, combines theoretical and empirical research that promotes a more comprehensive understanding of social and environmental processes. The inaugural prizes were awarded in 2000 to John Kenneth Galbraith and Nobel Prize winner Amartya Sen.
Bina Agarwal’s contributions to broadening the frontiers of economic thought have been both theoretical and empirical, with a particular focus on the most disadvantaged. An economist with a keen interest in interdisciplinary and inter-country explorations, she has done pioneering work especially on women’s rights in land, and gender and environment governance. An original thinker and policy advocate, she brings to her work insights from both research and field experience. Her writings have influenced policy nationally and globally. Dr. Agarwal’s publications include eight books and numerous professional papers on subjects such as land, livelihoods and property rights; environment and development; the political economy of gender; poverty and inequality; law; and agriculture and technological change. Her multiple award-winning book: A Field of One's Own: Gender and Land Rights in South Asia (Cambridge University Press, 1994) was acclaimed by the jury of the Edgar Graham prize as “a superb analysis” and a “lasting milestone” that would benefit a vast segment of the world's disadvantaged. She is a Professor of Economics at the Institute of Economic Growth, Delhi University. She has been President of the International Association for Feminist Economics, and was a founder member of the Indian Society for Ecological Economics. In 2008 the President of India awarded her the Padma Shri. She currently serves on the U.N. Committee for Development Policy and the Indian Prime Minister’s National Council for Land Reforms.
“Bina Agarwal embodies the kind of theoretically rigorous, empirically grounded, and policy-oriented economics that the Leontief Prize was created to recognize,” said GDAE Co-Director Neva Goodwin. “Her contributions to both scholarship and policy on economic development, the environment, well-being, and gender have been an inspiration to GDAE for many years.”
Daniel Kahneman was awarded the Nobel Prize in Economic Sciences in 2002 for his groundbreaking work in the field of behavioral economics. Dr. Kahneman is a Senior Scholar at the Woodrow Wilson School of Public and International Affairs at Princeton University. He is also Professor of Psychology and Public Affairs Emeritus at the Woodrow Wilson School, the Eugene Higgins Professor of Psychology Emeritus at Princeton University, and a fellow of the Center for Rationality at the Hebrew University in Jerusalem.
“Our Institute’s work has been much influenced, and has greatly benefited, by the ways in which Dr. Kahneman has expanded the frontiers and crossed the boundaries between economics and other disciplines,” said GDAE Co-Director Neva Goodwin. “As we watch the current economic crisis unfold, we look forward to finding ways for the field of economics to increasingly incorporate the realistic complexity Dr. Kahneman has added to the economic understanding of human motivations and rationality.”
The Global Development And Environment Institute was founded in 1993 with the goal of promoting a better understanding of how societies can pursue their economic and community goals in an environmentally and socially sustainable manner. The Institute develops textbooks and course materials that incorporate a broad understanding of social, financial and environmental sustainability. The Institute also carries out policy-relevant research on globalization, climate change, and the role of the market in environmental policy.
In addition to Amartya Sen and John Kenneth Galbraith, GDAE has awarded the Leontief Prize to Paul Streeten, Herman Daly, Alice Amsden, Dani Rodrik, Nancy Folbre, Robert Frank, Richard Nelson, Ha-Joon Chang, Samuel Bowles, Juliet Schor, Jomo Kwame Sundaram, Stephen DeCanio, José Antonio Ocampo, and Robert Wade.
The awards ceremony and Leontief Prize lectures will take place on Tufts University’s Medford Campus in Spring 2010.
Read more about the Leontief Prize on the GDAE web site at:

Phillips Machine Again

Article on the Phillips Machine by a non-economist published in the American Scientist:

Underpayments to Consumers by the Health Insurance Industry

June 24, 2009

Testimony of Wendell Potter, Philadelphia, PA Before the U.S. Senate Commerce, Science, and Transportation Committee Hearings on "Consumer Choices and Transparency in the Health Insurance Industry"
June 24, 2009

Mr. Chairman, thank you for the opportunity to be here this afternoon.

My name is Wendell Potter and for 20 years, I worked as a senior executive at health insurance companies, and I saw how they confuse their customers and dump the sick - all so they can satisfy their Wall Street investors (cont.)

Confessions of an Undergraduate Economics Student from Chicago

"I went to the University of Chicago several years ago. I studied in their illustrious economics department as an undergraduate. There are nearly 400 graduates per annum.
After I graduated I felt I was missing something in my economics education. I went back and read the General Theory. Had I not done this, I would have never heard of Keynesian economics, except in passing about how it is “wrong”. (Sadly this is not an exaggeration.)
I can safely say that, at a minimum, 80% of those UofC graduates were in the same position of ignorance as me. And they were fine with it because there were Nobel winners giving them A’s and applauding their work of regurgitated free market drivel.
For example, the entirety of our required macro education consisted of two quarters’ hashing and rehashing the GE models from Robert Barro. The most ironic thing, as I see it in hindsight, is that so much of this book was built around refuting Keynesian ideas: But these were ideas we had never actually learned in the first place!
I fell in love with that Gothic campus but I do see how we were living in the Dark Ages. I think about the leaders who came from the same position as me and I shudder to think of how many mistakes we are making as a result of this ideology."
— UChicago, Class of 2005

Available at

Por uma realidade plural

A crise dá oportunidade para renovação de movimento pela reforma do ensino de economia. Será que podemos conversar?

Conferencia de Franklin Serrano, sobre el patròn dolar flexible.

Para seguir viendo clickear aca
Blog Grupo Lujan

crash -- Why it happened and what to do about it

Download the book
From real-world economics review a free ebook

La Revue de l'Entreprise

Le bi-mensuel tunisien "La Revue de l'Entreprise" m'a gentiment consacré sa une ainsi qu'un long interview "Changer de paradigme avec Keynes" qui reprend largement mon précédent article pour la revue Constructif.

Haiku Economics

The recession -- something -- is bringing increased attention to my (admittedly strange sounding) work on "Haiku Economics."

Yesterday brought a terrifically good article by Erica Alini, at the Real Time Economics blog of The Wall Street Journal:

In May I was interviewed in haiku form by the Chronicle of Higher Education (Steve Kolowich); there followed from it three appearances on National Public Radio. Inspired by my interview, NPR issued a "recession haiku challenge."
The outpouring of hundreds of haiku about economics, written by NPR listeners, was rather shocking, even to NPR, the journalists said. On Dec. 31, 2008 The Wall Street Journal (Mary Pilon) did a page one article on the nationwide outpouring of haiku and other short verse and again my work was featured.

Haiku economics won't solve all our aching problems. But, as I argue in my forthcoming article, haiku can and does serve as more than economic pain relief, 17 syllables at a time.
All the best,
Steve Ziliak

Depression Blog

I know many of you may already be reading this blog but I just wanted to make sure everyone was aware of this interesting blog. A person is reading the WSJ from the great depression on a day by day basis and summarizing the paper. You can find this blog here

Méfaits de l’euro

Vous trouverez ci-joint un article de Sergio Rossi sur la politique de la BCE.