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Issue 87: September 2, 2009


From the Editor

There is lots of news to report in this Newsletter. First, on September 16, 2009 and after, you can register for the ASSA at the AEA web site: The Association for Social Economics sessions will take place at the Hilton Atlanta—see the FYI section for more information. When registering, please register as a member of the ASSOCIATION FOR SOCIAL ECONOMICS. In this way, some portion of your registration fee will be given back to the ASE. In particular, all members of AFEE, URPE, and IAFFE and any other heterodox economist attending the ASSA should register as a member of ASE.

Secondly, the next ICAPE Conference will be at Western New England College, Springfield, Massachusetts on 3-5 June 2009. There will be a welcome reception on the 3rd, the conference sessions will take place on 4-5 June. Karl Petrick ( ) is the local organizer. Conference themes and a call for papers are forthcoming in the next week or so.

It is unfortunate to note that The Center for Full Employment and Price Stability (C-FEPS) and the Department of Economics at the University of Missouri—Kansas City (UMKC) has announced that there will be no Post Keynesian Workshop (International Conference and Summer School) at UMKC in Summer, 2010. The announcement intends to assist past participants and others who may have been exploring the possibility of attending the PK Workshop in making their summer plans. The PK Workshop will be resumed in the future, and information will be forthcoming with plenty of advance time as to when the next PK Workshop will be held.

The impact of the current crisis has extended to include economists, economic departments, and economic majors. Two American universities have used the crisis to restructure their academic activities and in the process economists have been made redundant—but clearly there is more to the decisions. However, in two cases, part of the decision was based on too few economic majors (an issue that has also affected UK economics departments over the past 15 years). The problem of too few economics majors affects many departments, especially at smaller institutions. For two stories that might interest you, see the following links: --to-drop-3-majors

Finally, perhaps you have heard (or not) of the Toxic Textbooks Movement. It is a movement to encourage schools and universities to use economics textbooks that engage honestly with the real world:  The website is quite interesting and you should check it out. The concern about having non-toxic textbooks from which you have to teach from is a real one. To produce a non-toxic textbook takes a long time and a lot of work. However, for the near future there are ways to get around the problem of the toxicity of textbooks. I teach an introduction (or first year) microeconomics course. This past year I decided to revise the content of the course from one that gives a critical overview of neoclassical micro to one in which the neoclassical component is reduced to 1/3 of the course. This was made possible with the publication of Sherman, Hunt, et. al. Economics: An Introduction to Traditional and Progressive Views (7th ed. M.E. Sharpe). The book is divided into four parts: economics of history and history of economics, microeconomics, macroeconomics, and international and global policy. For the first 5 weeks of the course I covered part I; the second five weeks part II supplemented by lecture notes; and the third five weeks I introduced the students to heterodox microeconomics utilizing lecture notes I have written. In the end, the students got a more critical and pluralistic understanding of microeconomics. The point here is that the toxicity associated with teaching neoclassical micro for example can be dealt with by choosing a Sherman-Hunt like text, introducing your own lecture notes into the class, and expecting students to be to have the capabilities to engage with diverse and opposing ideas.

Fred Lee

In this issue:
  Call for Papers
- JSHET Conference 2010
- ISEE 2010: Advancing Sustainability in a Time of Crisis
- PKSG Workshop on the Current Crisis
- Economic Pedagogy
- The Association for Institutional Thought
- Historical Materialism, 2nd North American Conference
- Historical Materialism Sixth Annual Conference
- Association for Institutional Thought [AFIT]
- ASE at the Eastern Economic Association Meetings
- 8th Society of Heterodox Economists Conference
- The Hyman P. Minsky Summer Seminar
  Heterodox Conference Papers and Reports and Articles
  - Global Recession: Spending Cuts Are Not the Answer
- Capital Controls and the Current Financial Crisis: Revisiting the Malaysian Experience
- A Critical Assessment of Seven Reports on Financial Reform: A Minskyan Perspective
- Keynes and the financing of public works expenditures
- Conversation or Monologue? On Advising Heterodox Economists
Heterodox Journals and Newsletters
  - eInsight
- International Journal of Political Economy
- Work Organisation, Labour and Globalisation
- Challenge
- Recherche sur l’Innovation
- Research Network of Innovation
  Heterodox Books and Book Series
  - Capitalism Hits the Fan
- Political Economy and Globalization
- Keynes on Monetary Policy, Finance and Uncertainty
- It Takes a Pillage
- Real World Labor
- Women’s Migration Networks in Mexico and Beyond
- An Updated Marxian Theory Of The Commodity by Pablo Emiliano Ahumada
- Economic Pluralism
Heterodox Book Reviews
  - The Dynamics of Industrial Capitalism: Schumpeter, Chandler and the New Economy
  For Your Information
  - how to rebuild a shamed subject
- Mathematical technique should not dominate real-world substance
- The Truth about Amnesty for Immigrants
- Income Inequality Is At An All-Time High: STUDY
- The American-German Divide
- Center for the History of Political Economy
- Bi-Annual Prize for Research in the History of Economic Thought
- Monthly Review 60th Anniversary Gala Celebration
- Grupo Lujan
- SHOE: ANN--2009 Don Lavoie Memorial Graduate Student Essay Competition
- ASE program at ASSA, times and room assignments

Call for Papers

JSHET Conference 2010

Call for Papers

The 74th Annual Conference of the Japanese Society for the History of Economic Thought (JSHET) will be held on May 22-23, 2010 at Toyama University, Toyama, Japan.

The organizing committee invites proposals for individual papers (in English or in Japanese) on all aspects of the history of economic thought.

Submissions should be mailed to  Each author should send his/her abstract of about 600 words in English or 2,000 letters in Japanese for a paper, as an attached document (PDF or WORD
format) to an electronic mail, containing the title of the paper, his/her name, affiliation, postal and electronic addresses and the fax number. The deadline for submission is September 30, 2009.

A complete list of accepted contributions and a provisional programme would be available at the beginning of December 2009. The outlines (within 6 pages of format A4) of the paper should be submitted by February 28, 2010. They will be printed and mailed to all participants one month before the conference.

The fee for non-members of JSHET to present a paper at the conference is 6,000 yen.

Further information of JSHET and the conference may be found on the web site:

For any additional information, please send your request to

ISEE 2010: Advancing Sustainability in a Time of Crisis

22 - 25 August 2010
Oldenburg and Bremen, Germany

Conference Theme

Ecological systems and their services to humans have been exposed to stress, exploitation and destruction for decades. Biodiversity is being lost at an almost unprecedented pace. Climate change will bring about rapid and unpredictable changes in the earth's entire biophysical system. There are thus massive indications of a crisis of ecosystems caused by human activity. In 2008 the global financial system collapsed and pushed many economies towards crisis. A deregulated banking sector acted outside the boundaries of safe and trustworthy operations resulting in a collapse of confidence in economic institutions not seen since the 1930s. Economic breakdowns in many countries have already generated dramatic social problems adding to existing poverty, hunger and inequality.

Click here for detailed information.

PKSG Workshop on the Current Crisis

SOAS, University of London, 23rd October 2009
The current crisis largely took mainstream economics commentators by surprise. By contrast Post-Keynesian analysis may provide the analytical tools to explain crises through processes endogenous to contemporary economies. This workshop aims to consider the origins, nature and likely course of the current crisis and the appropriate policy response from a broadly Post-Keynesian perspective. Studies of countries outside the US and UK are most welcome. Proposals for presentations and/or offers to act as a discussant should be sent to Jonathan Perraton on behalf of the PKSG Committee by 25th September.
Jonathan Perraton
Department of Economics
University of Sheffield
9 Mappin Street
Sheffield S1 4DT
United Kingdom
Phone: ++44 (0) 114 222 3408
Fax: ++44 (0) 114 222 3458


Barcelona , 25-28 March 2010
Call for the Second International Conference on Degrowth
Organised by ICTA, Universidad Autonoma de Barcelona, and Research & Degrowth.
We call for 400 words abstracts, deadline 30 November 2009.
Contact of organisers of the second degrowth conference at barcelona2010(at)
Download the conference proceedings of the previous conference
Website of the 2008 Degrowth conference:
Télécharger les actes
Site de la conférence de 2008: 

Economic Pedagogy

International Journal of Pluralism and Economics Education – Section for Economic Pedagogy
The objective of this section is to publish short articles on teaching techniques that readers can use to immediately improve their pedagogy. We invite articles on innovations in pedagogical issues, speculation on the didactics in any theoretical
or applied field, the changing conceptions of the learning process, the innovative contents of disciplines that foster reflection, analysis and solution of problems. We also invite contributions from policy makers, government officials, business leaders, etc. on suggestions to improve economics education. If you have any questions or want to submit a paper, contact:

Maria Alejandra Caporale Madi
Instituto de Economia
State University of Campinas

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
Department of Economics
University of Missouri-Kansas City
Kansas City, MO 64110-2499

Phone: (816) 235-1309

Winners will be notified by 1/15/10.
For more information about AFIT, visit our website at

Historical Materialism, 2nd North American Conference

January 14th to 16th 2010, New York City
We are living through a moment of profound change. Few believe that there is any possibility of going back. In these turbulent times the name of Marx is increasingly invoked—sometimes hesitantly—in places where one would least expect it: Marx the theorist of crisis, Marx the prophet of systemic change, even Marx the materialist philosopher of nature anticipating the ecological perils of modern capitalism. Yet these references tend to betray an ignorance not only of Marx’s thought, but of the entire Marxist theoretical tradition.

Click here for detailed information.

Historical Materialism Sixth Annual Conference

27-29 November 2009, Central London
Another World is Necessary: Crisis, Struggle and Political Alternatives
Co-sponsored by Socialist Register and the Isaac and Tamara Deutscher Memorial Prize Committee
The world economy is traversing a sweeping crisis whose outcomes are still uncertain, but whose scope is undeniable. The name of Marx is now occasionally, if nervously, invoked in the financial press. The neo-liberal project is being reconfigured, and some have even rushed to pronounce it dead. Imperial strategies are being redrawn, while ecological and food crises deepen on a global scale. This situation of instability and uncertainty unquestionably lends itself to incisive analyses drawing upon and critically innovating the traditions of historical materialism. Critical Marxist theorists have already shed considerable light on the mechanisms and tendencies underlying the current crises and emphasised the conflicts and contradictions that are emerging as they develop.

Click here for detailed information.

Association for Institutional Thought [AFIT]


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

Click here for detailed information.

ASE at the Eastern Economic Association Meetings

Call for Papers

I invite you to submit abstracts and/or session proposals for the Association of Social Economics sessions at the 2010 Eastern Economic Association meetings, to be held in Philadelphia, PA, February 26-28 (see linked site for more details).

I welcome any proposals dealing with the concerns of social economics, whether theoretical or practical, methodological or policy-oriented, or anything in between. As always, I am particularly interested in papers exploring the intersection of economics and ethics (which fits under the social economics umbrella), as well as economics and philosophy in general.

You do not have to be a member of ASE to participate in the EEA sessions, though I do encourage you to visit the website and consider joining. (In fact, even if you choose not to participate in the meetings, it's a good idea to visit the website and consider joining!)

Please send me your abstracts or session ideas by Monday, October 19 to  - also, feel free to ask me about possible topics or themes, or about the meetings in general. The Eastern Economic Association meetings have always been very open to alternative approaches and viewpoints, as well as a wonderful forum for innovative ideas.

Mark White

8th Society of Heterodox Economists Conference

December 7 and 8, 2009

The University of New South Wales will host the 8th Society of Heterodox Economists Conference on December 7 and 8, 2009
This year's conference will have both refereed and non-refereed papers. The deadline for submission of refereed papers is Monday 2 November. The deadline for submission of non-refereed papers is Friday November 13. Further details will be available from the Conference website.
The following symposia and calls for papers are being organised for the SHE Conference, in addition to the general sessions. If you would like to contribute in any way to any of these sessions, please get in touch with the designated contact person. To contribute papers to general sessions, please send papers to: 
Symposium on Financial Literacy
Please send proposals to: Diane Whitton
Symposium on Superannuation
Troy Henderson at the SEARCH Foundation Troy Henderson 
Symposium on Asian Economies
Please send proposals to Craig Freedman: 
Symposium on Actually existing markets
This symposium will discuss the actual nature, operation and outcomes of contemporary markets for many former public goods. The permeation of Australian public policies by market-inspired policy instruments has meant substantial change to a wide range of already existing markets which have traditionally supplied public goods such as education, health insurance, public housing, services for the aged and unemployed, infrastructure, water and electricity as well as the creation of new markets for goods previously not traded such as pollution reduction. How are these markets organised and what ensures their ongoing functioning? What is the nature of the goods and services provided by these markets? How does this differ from previous public sector provision and orthodox economic theory? What issues or barriers do Australians encounter when engaging with these markets? What policy objectives and outcomes are these markets delivering? Can these outcomes be improved by changes to these markets? It is intended to explore these questions and more.
Please send proposals to Lynne Chester: 
Symposium on The Political Economy of Climate Change
Please send proposals to Paul Twomey: 
Symposium on Development and Human Rights
Please send proposals to Michael Johnson: 
Symposium on the Teaching of Economics
Please send proposals to Peter Kriesler: 
A number of International Association for Feminist Economics (IAFFE) sessions will be coordinated by Women in Social and Economic Research (WiSER), based at Curtin University in Western Australia. The aim of these sessions is to provide an opportunity for feminist economists in the Australia/Pacific region to get together and discuss research priorities and needs.
Please send proposals to Siobhan Austen at WiSER:

The Hyman P. Minsky Summer Seminar

June 19 – 29, 2010

The Levy Economics Institute of Bard College is pleased to announce that it will hold a Minsky summer seminar in June 2010. The Seminar will provide a rigorous discussion of both the theoretical and applied aspects of Minsky’s economics, with an examination of meaningful prescriptive policies relevant to the current economic and financial crisis. The Seminar will consist of a Summer School from June 19-26, 2010 followed by an International Conference June 27-29, 2010 both to be held at the Levy Institute of Bard College.

The summer school will be of particular interest to graduate students, recent graduates and those at the beginning of their academic or professional careers. The teaching staff will include well-known economists concentrating on and expanding Minsky’s work.

Applications may be made to Susan Howard at the Levy Institute ( ), and should include a current curriculum vitae. Admission to the Summer School will include provision of room and board on the Bard Campus. Small travel reimbursements of $100 for US fellows and $300 for foreign fellows, respectively, will be available for a limited number of participants.

The Conference will provide a forum for the presentation and discussion of papers and work in progress dealing with Minskyan themes. Preference will be given to applicants presenting contributions in the following areas: stock-flow modeling and policy simulations; financial fragility; reconstituting the financial structure; modern money, endogeneity and functional finance; asset bubbles; and employment of last resort (ELR) and macroeconomic stability.

Applications to attend the Conference may be made to Susan Howard (, and should include an abstract of the proposed presentation. A registration fee of $200 covering meals and materials will be required for attendance and participation in the Conference program. Participants in the Summer School will be able to attend the Conference without charge. Bookings for hotel lodging at a preferential rate will be available to those attending the Conference.

Summer school and conference programs will be organized by Jan A. Kregel, Dimitri B. Papadimitriou and L. Randall Wray.

For more information, please visit


Heterodox Conference Papers and Reports and Articles

Global Recession: Spending Cuts Are Not the Answer

The Centre for Development Policy and Research is pleased to announce the publication of Development Viewpoint #34, “Global Recession: Spending Cuts Are Not the Answer”. The author, George Irvin, Professorial Research Associate, Development Studies, SOAS, counters the rising support in the EU and elsewhere for substantial cutbacks in public spending because of concern about rising public debt. He argues that not only will such cutbacks worsen the recession in developed countries but also they will have widespread damaging effects in the developing world. He emphasizes the current priority of implementing active counter-cyclical fiscal policies, particularly because of the looming threat of a ‘double-dip’ recession in many developed countries and prolonged deflationary conditions.

CDPR’s other thought-provoking, diversified set of over 30 Development Viewpoints published during the last year are available on

Capital Controls and the Current Financial Crisis: Revisiting the Malaysian Experience

The Centre for Development Policy and Research is pleased to announce the publication of Development Viewpoint #35, “Capital Controls and the Current Financial Crisis: Revisiting the Malaysian Experience”. The authors, Giovanni Cozzi and Machiko Nissanke, Economics Department, SOAS, draw on background research on Malaysia to argue that temporary capital controls can be, under certain conditions, an effective means by which developing countries can insulate themselves from the well-known contagion effects of a regional or global financial crisis. However, they caution that the effectiveness of such controls hinges on the degree to which the domestic financial system is regulated and that other measures, such as transaction taxes, might prove preferable in some developing-country contexts. 


Economía política de la privatización
en América Latina

A Critical Assessment of Seven Reports on Financial Reform: A Minskyan Perspective

By Eric Tymoigne

Keynes and the financing of public works expenditures

by Geoff Tily
Click here to download the paper.

Conversation or Monologue? On Advising Heterodox Economists

By Matas Vernengo 
This paper suggests that heterodox economists should not think of themselves as economists first, and only secondarily as heterodox, and must emphasize methodological issues, in particular the different assumptions (or axioms) implicit in their theories vis-à-vis the mainstream. The paper argues that the notion of a cutting edge of the mainstream, which is breaking up with orthodoxy, is misleading. The role of the cutting edge is to allow the mainstream to sound reasonable when talking about reality, while orthodoxy provides authority to the cutting edge. The cutting edge is essential for the mainstream and remains firmly based on orthodox grounds.


Heterodox Journals and Newsletters


Welcome to the 3rd issue of eInsight. Our key experts summarise some of the most interesting developments and economic indicators below, providing you with useful and timely reflections on the economy as it continues to evolve and respond to circumstances. We hope you find it interesting and welcome your comments.

International Journal of Political Economy

Volume 38 Number 1 / Spring 2009 of International Journal of Political Economy is now available at

This issue contains:
Too Big to Bail: The "Paulson Put," Presidential Politics, and the Global Financial Meltdown: Part I: From Shadow Financial System to Shadow Bailout
Thomas Ferguson, Robert Johnson

The Role of the State and Harrod's Economic Dynamics: Toward a New Policy Agenda?
Jamee K. Moudud

Expectation, Financing, and Payment of Nonmarket Production: Toward a New Political Economy
Jean-Marie Harribey

The Nature of Government Finance in Brazil
Felipe Carvalho de Rezende

Work Organisation, Labour and Globalisation

Volume 3 No 1 of Work Organisation, Labour and Globalisation is entitled Working at the interface: call-centre labour in a global economy.

Call centres illustrate the consequences of globalisation for labour perhaps more clearly than any other form of employment. Call-centre workers sit at the interface between the global and the local, having to transcend the limitations of local time zones, cultures and speech patterns. They are also at the interface between companies and their customers, having to absorb the impact of anger, incomprehension, confusion and racist abuse whilst still meeting exacting productivity targets and staying calm and friendly.

Finally, they take the brunt of the conflict at the contested interface between production and consumption, having to deal in their personal lives with the conflicts between the demands of paid and unpaid work. Drawing, amongst others, on organisational theory, sociology, communications studies, industrial relations, economic geography, gender theory and political economy, this important collection brings together survey evidence from around the world with case studies and vivid first-hand accounts of life in call centres from Asia, North and South America, Western and Eastern Europe. In the process it reveals many similarities but also demonstrates that national industrial relations traditions and workers' ability to negotiate can make a significant difference to the quality of working life in call centres.

Contributors include:
Ursula Holtgrewe, Jessica Longen, Hannelore Mottweiler, Annika Schönauer, Premilla D'Cruz, Ernesto Noronha, Simone Wolff, Claudia Mazzei Nogueira, Enda Brophy, Norene Pupo, Andrea Noack, Pia Bramming, Ole H. Sørensen, Peter Hasle, Päivi Korvajärvi, Vassil Kirov, Kapka Mircheva, and Ursula Huws.
Available in print and online
Read free taster article online at


Volume 52 Number 5 / September - October 2009 of Challenge is now available at

This issue contains:

- Letter from the Editor
Jeff Madrick, Mike Sharpe

- The Global Slump: Deeper Causes and Harder Lessons
Robert Wade

- Uncertainty Aversion and Economic Depressions
Richard A. Posner

- Generational Theft: U.S. Fiscal Policy Does Not Cheat Future Generations
Neil Buchanan

- The Costs of NAIRUvianism
Servaas Storm, C. W. M. Naastepad

- The High-Employment Route to Low Inequality
Lane Kenworthy

- The Broad Reach of the Minimum Wage
Oren Levin-Waldman

- Is the U.S. Unemployment Rate Already as High as It Was in the 1980s?
John Schmitt, Dean Baker

- Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism, by George A. Akerlof and Robert J. Shiller
Marcellus Andrews

- Camp Runamuck
Mike Sharpe

Réseau de Recherche sur l’Innovation

Chère Madame, Cher Monsieur,

Nous avons le plaisir de vous informer que l’éditorial de septembre du Réseau de Recherche sur l’Innovation, « Responsabilité sociale de l’entreprise et crise économique : L’insoutenable précarité de l’être », est disponible ici :

Research Network of Innovation

Dear Madam, Dear Sir

We are pleased to inform you that the editorial for September from the Research Network of Innovation « Corporate Social Responsability and Economic Crisis. The Unbearable Precariousness of Being » is available here :


Heterodox Books and Book Series

Capitalism Hits the Fan

The Global Economic Meltdown and What to Do About It
Richard Wolff
published 2009 • 6” x 9” • 256 pages • charts
ISBN 9781566567848 • paperback • $18.00
A breathtakingly clear analysis that breaks down the root causes of today’s economic crisis

“With unerring coherence and unequaled breadth of knowledge, Rick Wolff offers a rich and much needed corrective to the views of mainstream economists and pundits. It would be difficult to come away from this… with anything but an acute appreciation of what is needed to get us out of this mess.”
—Stanley Aronowitz, Distinguished Professor of Sociology and Urban Education, City University of New York

Capitalism Hits the Fan chronicles one economist’s growing alarm and insights as he watched, from 2005 onwards, the economic crisis build, burst, and then dominate world events. The argument here differs sharply from most other explanations offered by politicians, media commentators, and other academics. Step by step, Professor Wolff shows that deep economic structures—the relationship of wages to profits, of workers to boards of directors, and of debts to income—account for the crisis. The great change in the US economy since the 1970s, as employers stopped the historic rise in US workers’ real wages, set in motion the events that eventually broke the world economy. The crisis resulted from the post-1970s profit explosion, the debt-driven finance-industry expansion, and the sequential stock market and real estate booms and busts. Bailout interventions by the Federal Reserve and the US Treasury have thrown too little money too late at a problem that requires more than money to solve.

As this book shows, we must now ask basic questions about capitalism as a system that has now convulsed the world economy into two great depressions in 75 years (and countless lesser crises, recession, and cycles in between). The book’s essays engage the long-overdue public discussion about basic structural changes and systemic alternatives needed not only to fix today’s broken economy but to prevent future crises.

Richard Wolff has been a professor of economics at the University of Massachusetts, Amherst since 1981. He has been a visiting professor in the Graduate Program in International Affairs, at the New School in New York since 2007. Wolff’s major recent interests and publications include studies of US economic history to ascertain the basic structural causes of the current economic crisis and the examination of how alternative economic theories (neoclassical, Keynesian, and Marxian) understand and respond to the crisis in very different ways. His past work involves application of advanced class analysis to contemporary global capitalism. He has written, co-authored, and co-edited many books and dozens of scholarly and popular journal articles. His recent analyses of current economic events appear regularly in the webzine of the Monthly Review. In 2009, Capitalism Hits the Fan, the documentary on the current economic crisis, was released by Media Education Foundation ( ). Visit  for more information.

Political Economy and Globalization

Richard Westra
Based upon distinguishing capitalism from other economic systems, as well as analysis of capitalist change across its stages of development, Richard Westra argues that the economic tendencies we refer to as globalization constitute a world historic transition away from capitalism. Westra forcefully rejects claims from both Right and Left sides of economic debate that globalization embodies the ultimate world diffusion of capitalism. He concludes that the choice facing humanity is no longer between capitalism and socialism but between socialism and global barbarism.
The argument is meticulously interwoven through four key foci of political economy -
- The role of Marx’s Capital in producing knowledge of capitalism,
- The periodizing of capitalism and study of its historical models,
- The altering trajectories of production and finance under current globalization,
- The place of socialism in a progressive future.
A central point of the book is that determinations over the capitalist substance of existing economies demand precise understanding of how in its basic operation capitalism manages to secure the economic reproducibility of human society in the first place. To make the case for the passing of capitalism from history the volume draws upon the novel Japanese Uno approach to Marxian political economy.
From the pages of Political Economy and Globalization emerges a grim picture of our human future should current economic trends persist. It also offers a positive vision for socio-material betterment in redistributive, eco-sensitive socialist societies of tomorrow. This is a must read book for scholars, students, progressive policy makers and activists.

Keynes on Monetary Policy, Finance and Uncertainty

Liquidity Preference Theory and the Global Financial Crisis
By Jorg Bibow
Price: $125.00
Recommend this title to a librarian using our Librarian Recommendation Form.
About the Book
This book provides a reassessment of Keynes’ theory of liquidity preference. It argues that the failure of the Keynesian revolution to be made in either theory or practice owes importantly to the fact that the role of liquidity preference theory as a pivotal element in Keynes’ General Theory has remained underexplored and indeed widely misunderstood even among Keynes’ followers and until today. The book elaborates on and extends Keynes’ conceptual framework, moving it from the closed economy to the global economy context, and applies liquidity preference theory to current events and prominent hypotheses in global finance.
Jörg Bibow presents Keynes’ liquidity preference theory as a distinctive and highly relevant approach to monetary theory offering a conceptual framework of general applicability for explaining the role and functioning of the financial system. He argues that, in a dynamic context, liquidity preference theory may best be understood as a theory of financial intermediation. Through applications to current events and prominent hypotheses in global finance, this book underlines the richness, continued relevance, and superiority of Keynes’ theory of liquidity preference; with Hyman Minsky standing out for developing Keynes’ vision of financial capitalism.
Table of Contents
1. The triumph of Keynesianism? The role of liquidity preference theory in Keynes’ heresy 2. Some reflections on Keynes’ "finance motive" for the demand for money 3. The loanable funds fallacy: exercises in the analysis of disequilibrium 4. On Keynesian theories of liquidity preference 5. On exogenous money and bank behavior: The Pandora’s box kept shut in Keynes’ theory of liquidity preference? 6. Keynes on central banking and the structure of monetary policy 7. The international monetary order and global finance: Keynes’ vision and ideas 8. On what became of Keynes’ vision at Bretton Woods and some recent issues in global finance 9. Taking liquidity preference theory seriously 

It Takes a Pillage

My new book, It Takes a Pillage: Behind the Bailouts, Bonuses and Backroom Deals from Washington to Wall Street is available for pre-order now, and will be distributed and in stores by Sept 29, 2009. In addition, a PDF version can be sent to you immediately.

This book delves beyond the causes of this recent financial crisis to discuss why today, we are in FAR worse shape from an economic and financial stability standpoint than before, and what we must do to change this. It is a combination of insider-knowledge from my tenure working at the top echelons of firms like Goldman Sachs and Bear, Stearns; rigorous analysis of the real numbers behind the books of the major banks, the Fed, and the federal government; and a deep historical perspective. It is my hope that this book can be of help to your students in understanding how finance and politics congeal to become a disaster, given insight from my time on Wall Street.

Nomi Prins

"If you want to understand why the Geithner-Summers plan won't solve the financial crisis, and why Wall Street is disgraced but still calling the shots, you can't do better than the brilliantly written and documented It Takes a Pillage, by former investment banker and financial critic Nomi Prins. As she devastatingly shows, it took a pillage to destroy the financial system, and it will take a lot more than the cozy relationship of Geithner, Bernanke, and Summers with Wall Street to rebuild the financial economy."
—Robert Kuttner, co-editor, The American Prospect and author of Obama's Challenge

"This book will make readers angry, as they should be. This is a lively account of the Wall Street machinations and Washington deregulation that led up to the economic crisis. Prins writes from the perspective of someone who has seen the beast from the inside, having worked as a Wall Street banker."

—Dean Baker, Co-Director, Center for Economic and Policy Research

About the Author

Nomi Prins, a former managing director at Goldman Sachs, writes on corruption in Washington and on Wall Street for Mother Jones, Fortune, AlterNet, the Nation, and many other publications. She is a senior fellow at the public-policy think-tank, Demos, and has appeared on The NewsHour, Democracy Now!, and various CNBC, CNN, and Fox TV programs, as well as numerous national radio stations, including NPR and Air America. Her previous books are Other People's Money: The Corporate Mugging of America and Jacked.

Real World Labor

Edited by Immanuel Ness, Amy Offner, Chris Sturr, and the
Dollars & Sense Collective
In this time of rapid economic change, the power of organized labor seems to be in decline. But new organizing strategies are emerging to challenge corporate power and the globalization of capital. Real World Labor examines the most pressing issues facing workers today: fundamental changes in the nature of work and wages; new legal impediments to union organizing; the persistence of racial and gender discrimination; migrant workers’ struggle for dignity; militarism and its harmful effects on the working class; union responses to the global financial meltdown; and new forms of rank-and-file organizing and resistance.
Real World Labor provides up-to-date, accessible, and penetrating analysis of the most significant theoretical, historical, and practical issues confronting labor unions and workers on a national and global level. This collection includes 70 authoritative essays by leading writers and scholars of the labor movement, drawn from the pages of Dollars & Sense magazine, Working USA, and Labor Notes.
"Real World Labor is an antidote to the misinformation, false arguments, and faulty analysis so common in the mainstream media and among orthodox economists. An excellent classroom resource."
associate editor of Monthly Review,
author of Why Unions Matter
“For any labor studies course, Real World Labor is the most comprehensive and accessible book available today. Written by authoritative scholars of the labor movement in the United States and worldwide, no book compares to this work in its breadth of coverage and scope of analysis. This is the only collection that provides an in-depth overview of labor issues in an accessible manner to anyone interested in understanding the most significant issues facing workers and the contemporary labor movement. I highly recommend this book to all!”
Provost, National Labor College

“Real World Labor, like decades of Dollars & Sense books, is bound to be a great guide to labor issues, with a wide range of perspectives for both union members and students.”
President, Communications Workers of America
Order an exam copy (pdf's as well as hard copies are available), and browse our catalog of economics books at, or call (617) 447-2177.
Real World Labor
Edited by Immanuel Ness, Amy Offner, Chris Sturr, and the Dollars & Sense Collective
ISBN: 978-1-878585-55-4
Publication date: August 2009
Pages: 330
Price: $34.95

Contributors include: David Bacon, Kim Bobo, Heather Bouchey, Roger Bybee, Aviva Chomsky, Steve Early, Bill Fletcher Jr., Staughton Lynd, Arthur MacEwan, John Miller, Immanuel Ness, Thomas Palley, Frances Fox Piven, Robert Pollin, Paddy Quick, Peter Rachleff, Alejandro Reuss, Jane Slaughter, Lucien Van Der Walt, and others.

Chapter 1 - Labor Law, Policy, and Regulation
Chapter 2 - Wages and the Labor Market
Chapter 3 - Employment and Unemployment
Chapter 4 - International Labor Movements
Chapter 5 - Discrimination by Race and Gender
Chapter 6 - Immigration and Migration
Chapter 7 - Unions and Organizing Strategy
Chapter 8 - Competing Forms of Management
Chapter 9 - Labor, Globalization, and Trade
Chapter 10 - Labor and Economic Crisis
Chapter 11 - Labor and Militarism

Read more about Real World Labor at

Women’s Migration Networks in Mexico and Beyond

Tamar Diana Wilson. 2009. Women’s Migration Networks in Mexico and Beyond. Albuquerque: University of New Mexico Press.

Women’s Migration Networks in Mexico and Beyond traces the migration history of a woman born on a rancho in Jalisco who sought work first in Mexico City and then in Mexicali. It gives an overview of her life and work, and the careers of two of her eight daughters who migrated from the border city of Mexicalli to the United States, one to Arizona and one to Nevada. Concepts such as networks, social capital, transnationalism and gender and migration are defined in one chapter and revisited throughout the book. Changes in gender relations in Mexico are explored to explain the greater incidence of women’s migration to the United States in recent times. It is shown that migration networks based in urban centers differ from migration networks based in rural communities, with women playing a greater role in cities. Principles explaining the dynamics of urban-based transnational migration networks are offered.


The Path to Global Economic Prosperity
Paul Davidson
Availability: Now In Stock
From Palgrave Macmillan
Pub date: Sep 2009
208 pages
Size 5-1/2 x 8-1/4
$22.00 - Hardcover (0-230-61920-7) 

Today’s financial crisis has led to a widespread lack of confidence in the laissez faire style of economic policy. In The Keynes Solution author Paul Davidson provides insights into how we got into the crisis—but more importantly how to use Keynes economic philosophy to get out of this mess. John Maynard Keynes was committed to making the market economy work—but our current system has been a dismal failure. Keynes advocated for an interventionalist government role, in cooperation with private initiative, to mitigate the adverse effects of recessions, depressions and booms. His economic policy helped the world out of the great depression and was an important influencer in the thinking behind FDR’s new deal policies. In this book Keynesian expert Davidson makes recommendations and details plans for spending, monetary policy, financial market rules and regulation, and wages—all to reverse the effects of our past policies. Keynes renewed influence can be seen everywhere: in Barack Obama’s planned stimulus package, for example—and this book explains the basic tenant of Keynesian economics as well as applied solutions to today’s critical situation.

Click here for detailed information.


(4th Edition)

by E Ray Canterbery (Florida State University, USA) 
Volume I: The Foundation
A classic returns. The third edition of The Making of Economics appeared in 1987. Now, in a major revision, Ray Canterbery brings the book right up to date with new chapters on the “casino economy” (a term the author invented to describe an economy driven by making money with money rather than focusing on real production, now overtaken by reality), Joseph Schumpeter, globalization, and general equilibrium. Canterbery retains the engaging flavor of the earlier editions by covering the times and ideas of the major economists, such as Smith, Ricardo, Malthus, Mill, and Marshall, while giving ample ink to the remarkable dissidents — Marx, Veblen, Galbraith, Heilbroner, and other “radicals”. Canterbery again unmasks a traditional economics eschewing value judgements but itself standing on hidden ones even as he traces its origins to Isaac Newton's idea of an orderly universe. Personal references relate the great economists' ideas to the societies in which they lived, making the historical figures really come alive. Economics is displayed as a developing discipline, a discipline still evolving.

• The Ethics of Adam Smith and for Economic Systems
• The Feudal Order
• The Slow Evolution of the Market Economy
• Isaac Newton and the Economics Paradigm
• Adam Smith and the Market Economy
• The Industrial Revolution: Caught Between Hedonism (Bentham) and the Clerical View (Malthus)
• David Ricardo Engages Malthus in a Memorable Debate
• John Stuart Mill: The Last of the Classicals
• Alfred Marshall and Victorian Virtue
• The “American Dream” and Other “Optimal Conditions”
• John Maynard Keynes and the Bloomsbury Group Confront the Aftermath of the Great War
• John Maynard Keynes Takes on the Great Depression
• The Founding of Political Economy
Volume II: The Modern Superstructure
Volume II in The Making of Economics, 4th Edition series fills a major gap in the literature of economics, providing in brief fashion a complete treatment of high theory in economics. Like Volume I, the book is accessible to the intelligent reader, be they advanced undergraduate or graduate students, laypeople, or professors of economics and finance. The author walks the reader through the maze of contemporary economics, acquainting them with the most up-to-date theories as well as recent economic history. The learning tasks are eased by volleys of examples as well as dramatic illustrations. The progression is from neoclassical Keynesian economics to monetarism, continuing with mathematical economics and econometrics, the theory of economic growth, the new classical economics, game theory, experimental economics, and global economics. For example, common threads between Smithian classical economics and new classical economics are woven into the fabric of discussions directing the way to the higher theory. The new chapters on mathematics and econometrics, game theory, experimental economics, and globalization are not to be found in other surveys of what the author calls the “Modern Superstructure of Economics.” Although designed to be used with Volume I, it can also stand alone as a text or textbook supplement for a wide range of courses in economics and finance.

• The American Keynesians
• The Modern Monetarists
• The Era of Positive Economic Science
• The Rise of Mathematics and Econometrics
• The Neoclassical Theory of Economic Growth
• The New Classicals
• The Ascendency of General Equilibrium
• Game Theory: An Introduction
• Experimental Economics
• Globalization
• Prospects for the Future
Volume III: The Radical Assault
This book is the first in the field to cover exclusively the modern radical economists. Science has always had its radicals; economics is unexceptional in this regard. The book begins with the persona of Karl Marx and his soulmate Friedrich Engels, the most radical of all, continuing with the central ideas of Marx, including his theory of capitalism and an understanding of why, in Marx's view, capitalism is doomed. Thereafter, Thorstein Veblen fills the role as the USA radical who founded the only uniquely American school of economics — the institutionalist school. This is followed by Joseph Schumpeter and his theory of capitalist motion. According to Schumpeter, the demise of capitalism is self-inflicted through creative destruction. The bestselling authors, Robert Heilbroner and John Kenneth Galbraith, straddle both the insitutionalist and Post Keynesian schools. The new left radicals emanated from Galbraith's Harvard University and are still around today. The heyday of the new right came during the administration of Ronald Reagan and was led by the neo-Austrians. Finally, the book concludes by analyzing the Post Keynesians' claim to be the legitimate heirs to Keynesianism. Thus far, they fall into the radical camp.

• Paradigm Lost: Karl Marx
• The Iconoclast: Thorstein Veblen
• Joseph Schumpeter and Capitalist Motion
• The Complexity of Capitalism: Galbraith, Heilbroner, and the Institutionalists
• New Radical Economics: The Left
• New Radical Economics: The Right
• The Post Keynesians
• Supra-Surplus Capitalism and the Rise of the Casino Economy
• Economics: Past and Present Imperfect


Artful Approaches to the Dismal Science
by E Ray Canterbery (Florida State University) 
About the Author
Blending past and present, this brief history of economics is the perfect book for introducing students to the field.
A Brief History of Economics illustrates how the ideas of the great economists not only influenced societies but were themselves shaped by their cultural milieu. Understanding the economists' visions — lucidly and vividly unveiled by Canterbery — allows readers to place economics within a broader community of ideas. Magically, the author links Adam Smith to Isaac Newton's idea of an orderly universe, F Scott Fitzgerald's The Great Gatsby to Thorstein Veblen, John Steinbeck's Grapes of Wrath to the Great Depression, and Tom Wolfe's The Bonfire of the Vanities to Reaganomics.
Often humorous, Canterbery's easy style will make the student's first foray into economics lively and relevant. Readers will dismiss “dismal” from the science.

• Feudalism and the Evolution of Economic Society
• Adam Smith's Great Vision
• Bentham and Malthus: The Hedonist and the “Pastor”
• The Distribution of Income: Ricardo versus Malthus
• The Cold Water of Poverty and the Heat of John Stuart Mill's Passions
• Karl Marx
• Alfred Marshall: The Great Victorian
• Thorstein Veblen Takes on the American Captains of Industry
• The Jazz Age: Aftermath of War and Prelude to Depression
• John Maynard Keynes and the Great Depression
• The Many Modern Keynesians
• The Monetarists and the New Classicals Deepen the Counterrevolution
• Economic Growth and Technology: Schumpeter and Capitalism's Motion
• The Many Faces of Capitalism: Galbraith, Heilbroner, and the Institutionalists
• The Rise of the Casino Economy
• The Global Economy
• Climbing the Economist's Mountain to High Theory
• The Future of Economics

An Updated Marxian Theory Of The Commodity by Pablo Emiliano Ahumada

Publisher: VDM Verlag
Pub. Date: June 2009
ISBN-13: 9783639167443

How does material production become socially recognised in Capitalism? This is a fundamental question for Economics, since material production takes place privately and independently in a worldwide system. The theory of the commodity outlined in this book shows that the process of social recognition of material production and the process giving rise to money are one and the same. In fact, they are only the material manifestation of the realisation of work carried out privately and independently as part of the social labour. The book completes the characterisation of commodities as a historical form of the social product and recovers Marx's fundamental concept of the mercantile form of value. As a result, it becomes evident that the mercantile form of value is the indirect way in commodity production to allocate the productive powers of society, Smith's invisible hand. The book also breaks the false immediate links between the means of production and capital, and between money and capital. The fallacy that the labour theory of value disregards the inputs to production other than labour is thus laid bare, as is the misconception that directly identifies supply with production.

Economic Pluralism

Edited by Robert F. Garnett Jr, Erik Olsen, Martha Starr

* ISBN: 978-0-415-77703-2
* Binding: Hardback
* Published by: Routledge
* Publication Date: 24th August 2009
* Pages: 336

Recommend this title to a librarian using our Librarian Recommendation Form.
About the Book

The leading edges of economic thinking in the early 21st century are marked by a nascent pluralism - a positive valuing of difference and complexity - regarding the nature and evolution of human behaviour and economic organization. Economic Pluralism brings these pluralist sensibilities to the fore. Its twenty original essays explore the value and difficulties of pluralism in economic theory, philosophy, institutions, and education.

These twenty original essays reflect the maturity and breadth of pluralist scholarship in economics today. The first eight chapters (including essays by Tony Lawson, Diana Strassmann, Frederic Lee, and David Colander) stake out contentious positions on how and why pluralism matters in economic inquiry. The remaining chapters explore the meaning and consequences of pluralism in economic education, institutions, and policies.

This volume provides a unique "second generation" discussion of pluralism in economics. Its twenty original essays include contentious disagreements about where and why pluralism matters in economic inquiry as well as creative explorations of pluralism and its consequences in economic systems and in graduate and undergraduate economic education. It is certain to spur further debate over the scope and value of economic pluralism for the 21st century. This volume would be of most interest as a supplementary text for graduate or undergraduate courses that include units on heterodox economics or economic philosophy.


Heterodox Book Reviews

The Dynamics of Industrial Capitalism: Schumpeter, Chandler and the New Economy

Richard N. Langlois, _The Dynamics of Industrial Capitalism: Schumpeter, Chandler and the New Economy_. London: Routledge, 2007. ix + 122 pp. $140 (hardcover), ISBN: 978-0-415-77167-2

Reviewed for EH.NET by Arthur M. Diamond, Jr., Department of Economics, University of Nebraska at Omaha.

Click here to download the review.

For Your Information

how to rebuild a shamed subject

Skidelsky on "how to rebuild a shamed subject" - ie economics:

Mathematical technique should not dominate real-world substance.

In November 2008 the Queen asked why so few Economists had foreseen the credit crunch.
Ten leading British Economists write to Her Majesty, claiming that the training of economists is too narrow:
“Mathematical technique should not dominate real-world substance.”
During a visit to the London School of Economics in November 2008, the Queen asked why few economists had foreseen the credit crunch. Dated 22 July 2009, she received an answer from Professors Tim Besley and Peter Hennessy. This was widely quoted in the British press.
Ten leading British economists – including academics from top universities, three Academicians of the Academy of Social Sciences, academic journal editors, a former member of the Monopolies and Mergers Commission and the Chief Economic Advisor the Greater London Authority – have responded by writing their own response to the Queen. They note that the letter by Professors Besley and Hennessy fails to consider any deficiency in the training of economists themselves.
Following similar complaints by Nobel Laureates Ronald Coase, Wassily Leontief and Milton Friedman, the ten economists argue that economists has become largely transformed into a branch of applied mathematics, with little contact with the real world. The letter by Professors Besley and Hennessy does not consider how the preference for mathematical technique over real-world substance diverted many economists from looking at the whole picture.
The ten economists uphold that the narrow training of economists – which concentrates on mathematical techniques and the building of empirically uncontrolled formal models – has been a major reason for the failure of the economics profession to give adequate warnings of the economic crises in 2007 and 2008.
The ten signatories also point out that while Professors Besley and Hennessy complain that economists have become overly ‘charmed by the market’, they mention neither the highly questionable belief in universal ‘rationality’ nor the ‘efficient markets hypothesis’, which are both widely taught and promoted by mainstream economists.
The ten economists call for a broader training of economists, involving allied disciplines such as psychology and economic history, as well as mathematics.

For more information please contact:
Professor Geoffrey M. Hodgson

Signatories to the attached letter to the Queen:
Sheila C. Dow
Professor of Economics, University of Stirling and author of Money and the Economic Process and Economic Methodology
Peter E. Earl
Associate Professor of Economics, University of Queensland, Australia, and author of Business Economics: A Contemporary Approach
John Foster
Professor of Economics, University of Queensland, Fellow of the Academy of the Social Sciences in Australia and President Elect of the International J. A. Schumpeter Society
Geoffrey C. Harcourt
Emeritus Reader, University of Cambridge, Emeritus Professor, University of Adelaide, Academician of the Academy of Social Sciences, Fellow of the Academy of the Social Sciences in Australia
Geoffrey M. Hodgson
Research Professor of Business Studies, University of Hertfordshire, Academician of the Academy of Social Sciences and Editor-in-Chief of the Journal of Institutional Economics
J. Stanley Metcalfe
Emeritus Professor of Economics, University of Manchester and former member of the Monopolies and Mergers Commission
Paul Ormerod
Academician of the Academy of Social Sciences and author of the Death of Economics, Butterfly Economics, and Why Most Things Fail
Bridget Rosewell
Chairman of Volterra Consulting and Chief Economic Adviser to the Greater London Authority
Malcolm C. Sawyer
Professor of Economics, University of Leeds and Managing Editor of the International Review of Applied Economics
Andrew Tylecote
Professor of the Economics and Management of Technological Change, University of Sheffield

The Truth about Amnesty for Immigrants

by David L. Wilson

This article looks at the economic side of a possible amnesty for undocumented immigrants. UCLA professor Raúl Hinojosa-Ojeda projects that legalization "would result in a net income rise of $30-36 billion, support 750,000-900,000 new jobs, and generate $4.5 to 5.4 billion in net tax revenue." Should amnesty be considered a form of economic stimulus?

Income Inequality Is At An All-Time High: STUDY

“As of 2007, the top decile of American earners . . . pulled in 49.7 percent of total wages, a level that's ‘higher than any other year since 1917 and even surpasses 1928, the peak of stock market bubble in the “roaring” 1920s.’”

The American-German Divide

“The American-German Divide: Macro policy and international co-operation”



HBO East / Latina East Labor Day Sept. 7th. 9 PM

Tells the inside story of the last days of a General Motors plant in Moraine, Ohio, near Dayton, as lived by the people who worked the line. A Film by Steven Bognar and Julia Reichert


On Dec. 23, 2008, two days before Christmas, the General Motors assembly plant in Moraine, Ohio shut its doors. As a result, 2,500 workers and 200 management staff were left without jobs, while the closing is also sure to trigger the loss of thousands of related jobs and businesses. But the GM workers lost much more than jobs, including the pride they share in their work and the camaraderie built through the years. To the natives of Moraine and the greater Dayton area, General Motors wasn't just a car company - it was the lifeblood of the community.

THE LAST TRUCK views the final months of the plant through the workers' eyes as they reflect on their work and consider their next steps. In revealing interviews with people who considered themselves more family than co-workers, the film reveals the emotional toll of losing not just a job, but a sense of self.

The employees share poignant moments, such as the day every worker must remove his or her toolbox and give up their GM ID card. THE LAST TRUCK closes with footage of the actual "last truck" to be produced at Moraine Assembly.

Among those interviewed in the documentary are: Kathy (body shop) - A 47-year-old mother of three with six grandchildren, Kathy viewed her co-workers as a second family.

Kim (electrician) - A tearful Kim believes that working at the plant was "the greatest job I ever had." He recounts how everyone finished their work on the line and followed the last truck until all the work had been done. Then they all came together as a big group, a family saying goodbye.

Popeye (toolmaker) - Popeye sees the bigger picture, viewing the plant's closing as the end of the good life, the end of American manufacturing as we know it. "My grandson will have a worse life than I had," he says at a nearby bar.

Kate (forklift operator) - After the plant closes, Kate poignantly describes it as a "gentle dragon" taking its last breath before dying.

While the film focuses on Moraine, the plant's closing reflects profound changes in the American manufacturing landscape as a whole. THE LAST TRUCK bears witness to the experience of job loss and offers a snapshot of a moment that may portend the end of the nation's blue-collar middle class.

Directors and producers Steven Bognar and Julia Reichert won an Primetime Emmy® for their documentary "A Lion in the House," which followed children fighting cancer for five years. Bognar has shown four films at Sundance, including "Personal Belongings" and "Picture Day." Reichert has twice been nominated for a Best Feature Documentary Oscar®, for "Union Maids" and "Seeing Red."

THE LAST TRUCK: CLOSING OF A GM PLANT was directed and produced by Steven Bognar and Julia Reichert; edited by Steven Bognar. For HBO: senior producer, Lisa Heller; executive producer, Sheila Nevins.

Center for the History of Political Economy

I am pleased to announce that the Center for the History of Political Economy at Duke University has been awarded a grant by the National Endowment for the Humanities to support a Summer Institute to be held at Duke June 6 - 25, 2010. The institute will bring 25 faculty members from colleges and universities in the US with no previous experience teaching history of economic thought to Duke for a three week "Boot Camp," with the goal that the participants will go back to their home institutions both prepared and eager to teach an undergraduate course in the field. A number of HES members (past or present Society presidents all, in fact) will serve as lecturers and discussion leaders, including Brad Bateman, Bruce Caldwell, Craufurd Goodwin, Kevin Hoover, Steve Medema, Sandy Peart, and Roy Weintraub.
We are hopeful that this institute, if successful, will be continued in future years, and that if alternative sources of funding become available, could be opened up to include graduate students and non-US citizens. (The current constraints on eligibility are due to NEH rules.)

Bi-Annual Prize for Research in the History of Economic Thought

The Thomas Guggenheim Program in the History of Economics at Ben-Gurion University, Beer Sheva, Israel, announces a bi-annual Prize for Research in the History of Economic Thought.

The prize, in the sum of $10,000, will be awarded to a distinguished original scholar for any of the following categories: a published research paper, a book, or a life work.

Candidates should submit a brief description of the work to Ela at:
The deadline for submissions is February 1st 2010.

A committee of experts will make the decision by April 1st 2010, and the prize will be awarded at Ben-Gurion University in a public lecture to be delivered by the winner.

The Thomas Guggenheim Program in the History of Economic Thought operates under the auspices of an International Advisory Committee, comprising:

Prof. Arie Arnon (Ben-Gurion University) Prof. Michael Bordo (Rutgers University) Prof. Thomas Guggenheim (University of Geneva) Prof. Sam Hollander (Ben-Gurion University) Prof. Maria Cristina Marcuzzo (Sapienza Universita Di Roma) Prof. Joel Mokyr (Northwestern University) Prof. Jacques Silber (Bar Ilan University) Prof. Jimmy Weinblatt (Rector, Ben-Gurion University) Prof. Warren Young (Bar Ilan University)

Monthly Review 60th Anniversary Gala Celebration

The gala celebration takes place at 7pm on thursday, september 17, at the NY Society for Ethical Culture, 2 West 64th Street. Doors open at 6:30pm; reception with light refreshments to follow.

Featured speakers include longtime activist Grace Lee Boggs, MONTHLY REVIEW editor John Bellamy Foster, author and media activist Robert W. McChesney, prominent lawyer and author Michael E. Tigar, Rev. Jeremiah Wright, and scholar Fred Magdoff. The acclaimed genre-bending singer and songwriter Toshi Reagon will also perform.

Grupo Lujan

¿Que fue del buen samaritano? Naciones ricas, polìticas pobres. Univ. Nac. de Quilmes.

Cap 1

Cap 2

Cap 3

Blog y Sitio del Grupo Lujan 

SHOE: ANN--2009 Don Lavoie Memorial Graduate Student Essay Competition

The Society for the Development of Austrian Economics is pleased to announce that submissions for the 2009 Don Lavoie Memorial Graduate Student Essay Competition are now being accepted. Submissions will be accepted from advanced PhD students in economics or other relevant disciplines anywhere in the world. The competition is limited to thesis chapters and/or other research that is geared toward publication in the professional journals; submissions should adhere to appropriate standards of academic writing and should be on a topic relevant to Austrian economics. There is no word limit; and, students submitting papers to this competition will retain all publication rights to their work; however, winners are encouraged to submit their papers to The Review of Austrian Economics for possible publication.

Three prizes are given, each worth $1000, to be used to pay expenses to attend the Southern Economic Association meetings this November 21-23, 2009 in San Antonio, TX, where the winners will present their work on a special panel scheduled for 10:00am, Saturday, November 21. Prize awards are contingent on attending the SEA meetings and the SDAE's annual business meeting and awards banquet on Sunday evening, November 22.

The prize committee consists of:
- Peter Boettke, Committee Chair, George Mason University
- Emily Chamlee-Wright, Beloit College
- Steven Horwitz, St. Lawrence University
- David Prychitko, Northern Michigan University
- Virgil Storr, Mercatus Center at George Mason University

Deadline for submissions is October 1,
2009. Decisions will be made by October 15.

Please send all questions and submissions electronically to Peter Lipsey at

ASE program at ASSA, times and room assignments

Hi, everyone,

Attached is the ASE program for the ASSA meetings in Atlanta. Thank you all for your participation. The dates, times, and room assignments are included in this program.

As you may know, the Association for Social Economics asks that all paper presenters on the ASE program be members of the association. If you are not a member, or if your membership has lapsed, you can join on-line at  Here's how to do it.

Once you get to the website you must create a User Account. This is on the upper left-hand side. Once you click on "User Account," go to "new account registration" and complete the information. Then, once the account is set up, go to "Become a Member" on the left-hand side of the web page and complete the membership information. You may pay on-line with a credit card or with PayPal.

All program participants must register for the meetings; this can be done after September 15 at the American Economic Association at Please register as a member of the Association for Social Economics, ASE, and not as "other" for these meetings.

Thank you all for being a part of this program. I look forward to seeing you in Atlanta. Please let me know if you have any questions.

Take care,

Jane Clary