Tag Archives: John F. Henry

John F. Henry Celebration

25 April 2014

Linda Hall Library
5109 Cherry Street
Kanas City, Missouri 64110

University of Missouri-Kansas City

12.30               Doors Open and Refreshments available

12.50               Professor Randy Wray introduces the event

1.00 – 2.00      Professor Marc-Andre Gagnon (Carleton University, Canada), “Capital accumulation through institutional corruption; A Veblenian perspective on the ghost-management of the economy”

2.00 – 3.00      Professor Mario Seccareccia (University of Ottawa, Canada), “Economics and History: Why Economists and Policy Makers Need to Understand the Latter”

3.00 – 3.15      Refreshments

3.15 – 4.30      Professor John Henry’s “Property and the Limits to Democracy”

5.00                 Doors close

7.00 – 10.00    Dinner:  Grunauer, Freight House District, 101 West 22nd Street, Kansas City, Missouri  64108.

Marx, Veblen, and the Foundations of Heterodox Economics (2015)

Marx, Veblen, and the Foundations of Heterodox Economics: Essays in Honor of John F. Henry

Edited by
Tae-Hee Jo and Frederic S. Lee

Published by
Routledge (Series in Advances in Heterodox Economics) in May 2015


This book is a festschrift for John F. Henry who has been a critical thinker, prolific economist, eloquent writer, influential and congenial educator over 40 years of his professional career. These characteristics are weaved into his doing of economics, more specifically, history of economic thought as part of heterodox economics. Henry has been concerned about the linkages between theory and society in historical context. Why does a theory emerge and become dominant in a particular time and society? What role does a dominant theory play? Those fundamental questions require, in Henry’s terms, a “general theory of the development of general theory itself.” More importantly, the historical inquiry into theory led him to the critical analysis of the underlying values, institutions, and social relationships that legitimize the theory as if it is natural, normal, and universal.

Contributors of this volume share Henry’s concern. This festschrift is thus put together in order to (re)cast Henry’s (and also Karl Marx’s and Thorstein Veblen’s) questions so that contemporary heterodox economists make economics suitable for “a world that is more humane, more sensible, more amenable to the provisioning process.” With this goal at hand, the overarching theme of this book is “Marx, Veblen, and the Foundations of Heterodox Economics,” which is carefully selected on the ground that radical ideas of Marx and Veblen (Part I) are the essential theoretical  basis of heterodox economics (Part II) as well as of John Henry’s economics (Part III).

Table of Contents


Marx, Veblen, and Henry: Breaking up the Illusions of the Epoch / TAE-HEE JO and FREDERIC S. LEE

Part I Radical Ideas of Karl Marx and Thorstein Veblen

  • 1. The Marxian and Veblenesque Elements in the Way I do Economics / G.C. HARCOURT
  • 2. Karl Marx, Thorstein Veblen, and the Global Financial Crisis / JOHN E. KING
  • 3. The Contemporary Relevance of Karl Marx’s Political Economy / PHILLIP A. O’HARA
  • 4. Instincts and Exchange: A Veblenian Exploration / WILLIAM T. WALLER
  • 5. The “Barbarian Status of Women” Revisited in Times of Neoliberalism / ZDRAVKA TODOROVA
  • 6. Is Conspicuous Consumption a Weak Concept? / ANDREW B. TRIGG
  • 7. Veblen on Marx and Marginalism / GARY MONGIOVI

Part II Heterodox Economics: Alternative Critical Theory to the Status Quo

  • 8. Fraud and Neoclassical Economics in the Twentieth Century / FREDERIC S. LEE
  • 9. The “Illusion” or “Paradigm Blindness” of Economics: Ethical Challenges to Economic Thought from the Financial Crisis / ROBERT MCMASTER
  • 10. Re-establishing the Grounds for Free Trade: The (forgotten?) Assumption of Full Employment in Mainstream Economic Theory / STEPHANIE KELTON and JOHN F. HENRY
  • 11. Economics and History: Why Economists and Policy Makers Who Do Not Study History are Condemned to Repeat the Mistakes of the Past / MARIO SECCARECCIA
  • 12. Financial Capitalism Trapped in an ‘Impossible’ Profit Rate / WOLFRAM ELSNER
  • 13. Shaping the Social Determinants of Value through Lobbying and Corporate Capture: An Institutionalist Approach to Capital Accumulation / MARC-ANDRE GAGNON
  • 14. The Rise of Money and Class Society: The Contributions of John F. Henry / L. RANDALL WRAY and ALLA SEMENOVA

Part III The Heterodox Economics of John F. Henry

  • 15. Farewell Lecture: Property and the Limits to Democracy / JOHN F. HENRY
  • 16. A Conversation with John F. Henry
  • John F. Henry’s Publications