From the Editor
There is not much to report on. The ASSA
meetings went well by all accounts. Many if not
most heterodox sessions had good attendance,
with some sessions over-attended with people
sitting on the floor and standing in the back of
the room. Then there were the mainstream
sessions where noted mainstream economists made
statements that boiled the blood of heterodox
economists who attended them—such as in one
session where lines and lines of math equations
to arrive at the conclusion that if uncertainty
did not exist, markets would be more stable. The
ICAPE booth received lots of visitors which is a
good sign. Next year at the ASSA meetings, ICAPE
is thinking about expanding the booth as a way
to get more heterodox/pluralist organizations,
groups, individuals, etc. involved at the
meetings. Finally, one thing that I did pick up
at the Meetings was a new flyer by the
Association for Social Economics—it is
attached
for your interest.
Fred Lee
In
this issue:
|
Call for Papers |
|
- Association for Social Economics
- Union for Radical Political Economics
- Association for Heterodox Economics (AHE)
- 13th Annual International Conference on Economics and
Security
- Associação Keynesiana Brasileira
- Brazilian Keynesian Association
- 13th Annual Conference of the European Society for the
History of Economic Thought
- European Journal of Economic and Social Systems
- World Association for Political Economy
- 2009 History of Economics Society Meeting
- Left Forum
- Appel à articles pour la Revue française de socio-économie
- 4th Annual Green Economics Conference
- Union for Radical Political Economics
- Politics of Public Health Data Session
- Conference of the Regulating for Decent Work Network
- L'ADEK
- European Journal of Economic and Social Systems
- Basque Country 6th International Conference – Call for
Papers |
|
Conferences, Seminars and Lectures |
|
- Summer School of
the Research Network Macroeconomics and Macroeconomic
Policies
- Keynes-Gesellschaft
- SEMINAIRE POLES 2/3
- University of Cambridge
|
|
Job Postings for Heterodox Economists |
|
- Program Associate
- Research Fellow in Natural Resource Economics
- Post Doctorate Degree Grant
|
|
Heterodox Conference Papers and
Reports and Articles |
|
- Excess Capital and Liquidity
Management
- An Empirical Analysis of Gender Bias in Education Spending
in Paraguay
- Small Is Beautiful: Evidence of an Inverse Relationship
between Farm Size and Yield in Turkey
- 'Financialisation'
- Gatekeeper Economics II
- Grupo de Propaganda Marxista |
|
Heterodox Journals and Newsletters |
|
- Review of Social Economy
- Revista De Economia Institucional
- International Journal of Political Economy
- The Erasmus Journal for Philosophy and Economics (EJPE)
- Revue de la Régulation
- History of Economics Review
- Rethinking Marxism
- Journal of Innovation Economics
- CASE e-Newsletter
|
|
Heterodox Books and Book Series |
|
- Routledge Advances in Heterodox
Economics
- The Crisis of Social Democratic Trade Unionism in Western
Europe
- How Should Research be Organised?
- The Rise of China and the Demise of the Capitalist World
Economy
- The New Economics of Sustainable Consumption: Seeds of
Change
- The Great Financial Crisis: Causes and Consequences
- Are Worker Rights Human Rights?
|
|
Heterodox Book
Reviews |
|
- Guilds, Innovation and the European Economy |
|
Heterodox Websites and Associations |
|
- The Alternative Nobel |
|
The HEN-IRE-FPH Project |
|
- The HEN-IRE-FPH Project for Developing Heterodox Economics
and Rethinking the Economy Through Debate and Dialogue
- Capitalism, the Anti-globalization Movement and the Third
World
- Building on Lost Foundations: The Institutional Matrix and
Socioeconomic Development
- Political Economy and the Idea of Development
- The Global Economy – Myths and Realities
- The Long and Short of It: Globalization and the Incomes of
the Poor
- Social structures of accumulation theory: The state of the
art
- The nature of heterodox economics |
|
For
Your Information |
|
- Capitalism's Crisis through a Marxian
Lens
- Nafta's Unhappy Anniversary
- Book Review: Can You Spare a Dime?
- The Progressive Program
- Ideas that will be alien to a generation of economists
- Post-Keynesian critique of financial markets needed
- Whose Interests Will Shape Barack Obama’s “Change”? |
|
|
Call for Papers
Association for Social Economics
Call for papers for the
2010 Annual
Meeting at the ASSA
Atlanta, Georgia, January 3-5, 2010
Union for Radical Political Economics
ASSA 2010,Jan 3-5 Atlanta
Call for Papers - Annual Meeting
Atlanta, Georgia January 3-5, 2010
Joint URPE/IAFFE sessions using feminist and radical political
economy approaches
Once again, URPE (Union of Radical Political Economics) and IAFFE
(International Association for Feminist Economics) plan to
co-sponsor up to three sessions at the ASSA annual meeting in 2010.
I will be coordinating these for IAFFE and working closely with URPE
panel coordinators for the ASSAs (Fred Moseley and Laurie Nisonoff)
and IAFFE
panel coordinator (and president-elect) Eudine Barriteau.
Click here
for detailed information.
Association for
Heterodox Economics (AHE)
Association for Heterodox Economics (AHE) 2009 annual conference
will be held from 9th - 12th July at Kingston University, London,
England. Click
here for detailed information.
This year the AHE is pleased to host a set of special sessions
organised by the Post-Keynesian Study Group. Click
here to download
The PKSG's call.
The deadline for the submission of abstracts is 8th February 2009.
Please consult the calls for papers for full details on how to
submit.
13th Annual International Conference
on Economics
You are invited to submit a paper for presentation at the 13th
Annual International Conference on Economics and Security that will
take place on the 24th-26th of June 2009 in Thessaloniki, Greece.
The Conference is organised by the Business Administration and
Economics Department of CITY College (Affiliated Institution of the
University of Sheffield) and has the support of the University of
the West of England, Economists for Peace and Security-US,
Economists for Peace and Security-UK, Economists for Peace and
Security-Greece, the British University in Egypt and SEERC (South
East European Research Centre), Thessaloniki, Greece.
On the Conference website (
http://www.city.academic.gr/special/events/economics_and_security09/index.html
) you can find all the relevant information about the conference as
well as the papers and photos from the 2006 Conference also held in
Thessaloniki.
Feel free to contact us on
reginfo@city.academic.gr in case you have any questions.
Associação Keynesiana Brasileira
II Encontro Internacional
Chamada de Trabalhos
http://www.ppge.ufrgs.br/akb/
A Associação Keynesiana Brasileira (AKB) está organizando seu II
Encontro Internacional a ser realizado em Porto Alegre, nos dias 9,
10 e 11 de setembro de 2009. O tema do Encontro é "Instabilidade
Financeira e Capitalismo Contemporâneo". Com o referido tema, o
objetivo do Encontro é analisar, a partir de uma ótica keynesiana e
heterodoxa, a crise financeira mundial e suas repercussões sobre a
economia mundial, em especial as economias latino-americanas e a
brasileira. Assim sendo, gostaríamos de convidá-los a submeter
trabalhos para umas das seguintes áreas:
- Instabilidade financeira e recessão;
- Crises cambiais e financeiras;
- Políticas fiscal e monetária em uma perspectiva heterodoxa;
- Sistema financeiro e financiamento da economia;
- Regime cambial e controle de capitais;
- Crise do subprime e seus desdobramentos;
- Crescimento econômico e ciclos;
- Reestruturação do sistema monetário internacional.
Detalhes para submissão:
i. Prazo de submissão dos artigos: 2 de março a 30 de abril de 2009,
conforme data de postagem;
ii. Os artigos poderão ser escritos em português, espanhol e inglês;
iii. Deverão ser enviadas 3 (três) cópias impressas dos artigos para
o seguinte endereço: Programa de Pós-Graduação em Economia/UFRGS,
Av.João Pessoa 52/sala 33b, Centro, Porto Alegre/RS, 90040-000, a/c
Fernando Ferrari Filho, Presidente da AKB;
iv. Cada autor poderá submeter no máximo 2 (dois) artigos (seja como
autor, seja como co-autor);
v. A taxa de submissão por artigo é de R$ 40,00 (sócios da AKB) e R$
80,00 (não associados da AKB). Os referidos valores devem ser
depositados na conta corrente da AKB: Banco do Brasil, Ag.1899-6 e
c/corrente 36784-2;
vi. Os artigos devem ser escritos em formato Microsoft Office Word
97 (ou compatível) ou PDF, devem ter um máximo de 25 páginas, devem
ter espaçamento simples entre as linhas e a fonte e o tamanho das
letras devem ser, respectivamente, Times New Roman e 12pt;
vii. Conjuntamente com as 3 (três) cópias do artigo, o autor deverá
enviar a cópia do comprovante de depósito da taxa de submissão para
o endereço que consta no item (iii);
viii.Os custos de transporte, de acomodações e demais despesas devem
ser cobertas pelos participantes.
Comissão Científica e Maiores Informações
A Comissão Científica é composta por 5 membros: Marco Flávio da
Cunha Resende (UFMG), Simone Deos (UNICAMP), Ricardo Dathein
(UFRGS), José Oreiro (UnB) e José Rubens Garlipp (UFU). Detalhes
adicionais sobre a estrutura do Congresso serão divulgados, em um
futuro próximo, no site da AKB, pela Comissão Organizadora, Fernando
Ferrari (UFRGS), Luiz Fernando de Paula (UERJ), Ana Rosa Mendonça (Unicamp)
e Vanessa Petrelli (UFU).
Brazilian Keynesian Association
II International Congress
Call For Papers
http://www.ppge.ufrgs.br/akb/
The Brazilian Keynesian Association (AKB) is organizing his 2nd
International Congress which will be held in Porto Alegre (Brazil),
from 9 to 11 September, 2009. The Congress theme is "Financial
instability and Contemporaneous Capitalism". With this theme, the
AKB aims at analyzing, in a Keynesian perspective and other
heterodox approaches, the international financial crisis and its
impacts on world economy, more specifically on Latin-American and
Brazilian economies. We would like to invite you to submit papers to
our Congress. The submissions shall relate to the following topics:
- Financial instability and recession;
- Financial and exchange rate crises;
- Fiscal and monetary policies in a heterodox perspective;
- Financial system and investment;
- Exchange rate regime and capital controls;
- Subprime crisis and its impacts on world economy;
- Economic growth and cycles;
- Reforming the international monetary system.
Submission details:
i. Submission dates: from March 2 to April 30, 2009 (deadline);
ii. The articles can be written in Portuguese, Spanish and English;
iii. The article's copies (3) must be sent to the following address:
Programa de Pós-Graduação em Economia/UFRGS, Av. João Pessoa 52/sala
33b, Centro, Porto Alegre/RS, 90040-000, a/c Fernando Ferrari Filho,
Presidente da Associação Keynesiana Brasileira;
iv. Each author can not submit more than 2 (two) articles;
v. The articles must have the following characteristics: they must
be written in Microsoft Office Word 97 (or compatible) or in PDF,
the maximum number of pages is 25, the space between lines is simple
and the font and the size of letters have to be, respectively, Times
New Roman and 12 pt;
vi. The fees, cost for transportation and accommodation are at the
expense of participants.
Scientific Committee and Other Details
The Scientific Committee is Marco Flávio (UFMG), Simone Deos
(UNICAMP), Ricardo Dathein (UFRGS), José Oreiro (UnB) e José Rubens
Garlipp (UFU). Additional details about our Congress will appear in
the AKB site, as soon as the Steering Committee, Fernando Ferrari
(UFRGS), Luiz Fernando de Paula (UERJ)
13th Annual Conference of the
European Society for the History of Economic Thought and Security
A Reminder and Extension of Deadline
The 13th Annual Conference of the European Society for the History
of Economic Thought (ESHET) will be organized by the Economic
Departments of the University of Macedonia and the Aristotle
University and will be held at the University of Macedonia,
Thessaloniki, Greece.
The conference will take place on 23- 26 April 2009 and its special
theme is:
Technological Change and Economic Analysis
Confirmed keynote speakers are:
Professor Robert Solow (MIT, Cambridge, MA) and Professor Nick Craft
(University of Warwick, UK)
Proposals for papers or sessions on all other aspects of the history
of economic thought are also welcome. An abstract of about 400 words
for a paper and about 600 words for a session s! hould be submitted
at the latest by January 31, 2009. To submit an abstract, register
at the conference website and follow the instructions (to access the
conference website click on the title at the top of this
announcement).
ESHET Young Scholars Seminar
ESHET invites young scholars (i.e. those who are working on or have
just completed a PhD, regardless of their age) to submit their work
to the Young Scholars Seminar to be held on the occasion of the
ESHET Conference. Four submissions will be selected: ESHET will
cover board, accommodation and registration fees plus travel
expenses up to €300. The authors of the selected papers will have 30
minutes each to present the paper and a senior scholar, appointed by
the ESHET Council, will discuss it. Papers may be on any topic
relevant to the history of economics, and are not restricted to the
conference theme. ESHET encourages young scholars to participate in
the conference. A! one-year ESHET membership is offered to all young
scholars wh! o submit a paper. Candidates should e-mail a paper no
longer than 9000 words to Professors Ragip Ege and Tiziano Raffaelli
(ege@cournot.u-strasbg.fr
and
t.raffaelli@fls.unipi.it ), by February 20, 2009. The results of
the selection process will be communicated to the candidates by 25
March 2009. Papers that have not been selected will be considered
for presentation at other conference sessions.
Scientific committee: Harald Hagemann (Stuttgart-Hohenheim), Heinz
D. Kurz (Graz), Amos Witztum (London Metropolitan University),
Persefoni Tsaliki (Aristotle University, Thessaloniki), Lefteris
Tsoulfidis (University of Macedonia, Thessaloniki), Joachim Zweynert
(Hamburg)
Local organizing committee: Theodore Ikonomou (Aristotle University,
Thessaloniki),
Stavros Mavroudeas (University of Macedonia, Thessaloniki),
Persefoni Tsaliki (Aristotle University, Thessaloniki), Lefteris
Tsoulfidis (U! niversity of Macedonia, Thessaloniki)
Conference website:
http://www.eshet.net/conference/2009
European Journal of Economic and
Social Systems
(
http://ejess.revuesonline.com )
The 2008 Economic and Financial Crisis:An Analysis in Terms of Monetary Circuits
Guest Editors:
Louis-Philippe Rochon and Sergio Rossi
The summer 2007 subprime crisis has spread to all segments of
globalized financial markets, and has become a global crisis also
affecting production and investment activities all over the world.
The fictitious capital circulating within the financial sector is
thereby affecting also the so-called “real” economy. In fact, as
modern circuit theory shows, monetary circuits concern economic
magnitudes that have both a real and a financial dimension, in so
far as they are the result of the monetization by banks of a past,
present, or future production activity. The emergence of finance-led
capitalism, however, changed the monetary circuit landscape: a
purely nominal flow of money, deprived of any actual or forthcoming
real assets (wealth), can be issued by banks as well as by the
“shadow banking system” that has been generated by the two-decade
long series of ever complex financial engineering practices, such as
securitization, as well as by financial institution deregulation.
The rising importance of “financialization” has raised concern that
for every monetary unit linked to production, a dozen or far more
units of money are issued and circulated in purely financial
transactions that have no real stuff behind them (now and then).
The purpose of this special issue of the European Journal of
Economic and Social Systems is to bring together a selected
collection of high-quality theoretical and empirical papers devoted
to studying and explaining the causes and consequences of the 2008
economic and financial crisis referring to the conceptual apparatus
of the modern theory of the monetary circuit, also known as the
monetary theory of production, which takes stock of Keynes’s
“entrepreneur, or wage, economy,” and considers, in light of
Wicksell and Schumpeter, the importance of banks (and their credit
lines) for economic activity and development in any money-using
economies.
Topics of interest include, but are not limited to:
– stock-and-flow analyses of finance-led capitalism with emphasis on
the finance sector
– the emergence and development of a shadow financial system beyond
the banking system
– the rise and fall of banks as providers of advances to finance
production and consumption
– the re-emergence of banks’ core business as a result of the 2008
global financial crisis
– the roles of central banks in the payments industry and in
financial crises management
– population aging, pension funds, monetary policy, and financial
stability issues at stake
– conflicts between short-term (fictitious) financial capital and
long-term (real) fixed capital
– global imbalances as a result of the lack of international
settlements and a world currency
Submission procedure
A PDF file containing a completed draft or an extended abstract
(800–1200 words) should be e-mailed to
lprochon@laurentian.ca
and to sergio.rossi@unifr.ch by 28 February 2009. Every submitted
paper will be blind reviewed by (at least) two referees and by both
Guest Editors. Abstracts should contain JEL classification codes.
The authors’ full name, affiliation, address, phone/fax, and e-mail
for correspondence should also be indicated. An entire paper may be
submitted, when available, but it must include an abstract and the
relevant JEL codes.
Accepted papers will have to be formatted by their authors according
to the EJESS house style (relevant information will be provided by
the Guest Editors to those authors whose proposal is accepted by 30
March 2009). Proposals and full papers may be either in English or
in French, as the EJESS is a bilingual journal (
http://ejess.revuesonline.com/revues/34/EJESS_07.pdf ). A paper
submission implies that the paper has not been, or will not be,
published elsewhere, and that it is not currently being refereed for
another publication in the same language.
Notification to authors
Authors will be notified via e-mail about the acceptance of their
proposals by 30 March 2009. Completed drafts of the full paper are
due by 29 June 2009. Authors will be given two months after the
refereeing process is completed to finalize their papers for
publication, respecting the EJESS (house-style) guidelines that they
will receive with the initial editorial decision.
Timetable and important deadlines
Deadline Production process
28 Feb 2009 Submission of extended abstracts (800 to 1200 words) to
the Guest Editors
30 Mar 2009 Initial editorial decision and communication on accepted
paper proposals
29 Jun 2009 Submission of full papers (7000 to 8000 words) to the
Guest Editors
31 Aug 2009 Authors receive (at least two) referee reports and Guest
Editors’ comments
31 Oct 2009 Submission of revised papers by their authors to the
Guest Editors
31 Dec 2009 Publication date
World Association for Political
Economy
WAPE [2008] No.11
Call for Papers
The Fourth Forum of the World Association for Political Economy
(WAPE)
Nation, State, and Democratic Governance of the Global Economy
and Politics
May 28-29, 2009 in Paris, France
Hosted by World Association for Political Economy and Gabriel Peri
Foundation
?? About WAPE
WAPE, registered at Hong Kong, China, is an international academic
organization founded on an open, non-profit, and voluntary basis by
Marxian economists and related groups all around the world. The
standing body of WAPE includes the council, secretariat, academic
committee and advisory committee. The mission of WAPE is to utilize
modern Marxian economics to analyze and study the world economy,
reveal the law of development and its mechanism, and offer proper
policies to promote economic and social improvement on the national
and global level, so as to improve the welfare of all the people in
the world. The First WAPE Forum, “Economic Globalization and Modern
Marxian Economics”, was successfully held in April 2006 in Shanghai
University of Finance and Economics, China. The Second WAPE Forum,
“The Political Economy of the Contemporary Relationship between
Labor and Capital in the World”, was successfully held in October
2007 in the University of Shimane, Japan. In May 2
2008, over one hundred and forty Marxian economists from thirteen
countries in five continents attended the Third WAPE Forum held in
Tsinghua University, China, to probe into the theme “Marxism and
Sustainable Development”. A statement adopted at the Third WAPE
Forum, “On Marxism and Sustainable Development,” can be found on the
WAPE website at
www.wape2006.org/en .
The Fourth WAPE Forum, “Nation, State, and Democratic Governance of
the Global Economy and Politics”, will be hosted by Gabriel Peri
Foundation on May 28-29, 2009
in Paris, France, and will announce the annual award of “Top Ten
Academic Achievements of World Marxist Economics”.
Topics of the Fourth WAPE Forum
1. Is there a need for a world currency and world language?
2. Moving toward democratic global governance by reforming or
replacing the WTO, IMF, and World Bank.
3. Nation, state, and ethnicity.
4. The Transnational capitalist class and the emergence of
state-like structures.
5. The evolution of the state under globalization -- is the nation
state obsolete?
6. The dangers of military Keynesianism and the global armaments
trade.
7. Imbalances in the global trade and financial system and the role
of the US dollar.
8. The financial crisis: causes, effects, policy responses.
9. Contradictions of neoliberalism and alternatives to neoliberalism.
10. The global consequences of the end of cheap energy.
11. The world food crisis: causes, effects, policy responses.
12. Modern imperialism.
13. The impact of East Asia on the World Economy.
14. How to obtain unity among wage earners in the global system.
15. Conflicts between Europe and the USA.
Schedule
1. Registration on May 27, 2009.
2. Official program on May 28 through May 29, 2009.
Venue
Le Campanile in Pantin, Paris, France.
Expenses
All the costs for this forum such as registration fee (300 euros),
international travel, and lodging will be covered by the
participants.
Submission of Papers
Please email your application, your paper of about 4000 words in
English including abstract and keywords on the above topics together
with your curriculum vitae (stating your affiliation, contacting
information, list of published papers, and so on) before March 31,
2009 to hpjjx@vip.163.com (Prof. Xiaoqin Ding/Allen Ding, deputy
secretary general of WAPE), and we will send you our official
invitation. Marxian economists from all over the world are welcome
to the forum to cooperate with each other to enlarge and strengthen
the influence of Marxian economics in the world!
The WAPE Secretariat
September 2008
2009 History of Economics Society
Meeting
The 2009 meetings of the History of Economics Society will held at
the University of Colorado Denver over June 26-29. Those wishing to
submit papers or propose sessions my do so at
www.hes-conference2009.com
The conference will begin with an opening reception on Friday, June
26 and will end mid-day on Monday, June 29. The meetings will be
held at the University of Colorado Denver's Kenneth King Academic
and Performing Arts Center on the University's Downtown Denver
Campus.
The campus's location in lower downtown Denver affords easy walking
access to hundreds of restaurants and a variety of hotels in all
price ranges. The campus's extremely limited dormitory facilities
mean that there will likely not be a dorm housing option available.
Conference rates will be arranged with several hotels within easy
walking distance of the campus. Direct flights from London and
Frankfurt make this a very accessible location for those traveling
from Europe. Registration information will be posted in due course.
If you encounter any problems with paper/session submission or have
any other questions about the conference, you can email Steve Medema
directly at
HES2009@ucdenver.edu.
Young Scholars Session at the 2009 History of
Economics Society Meeting
The 2009 History of Economics Society Conference will be held over
June 26-29 at the University of Colorado Denver. Each year, the
History of Economics Society supports Young Scholars (YS) who wish
to present papers at the annual HES Conference. Selected HES Young
Scholars receive free registration, a banquet ticket and a year's
membership to the Society. For the 2009 HES Conference, funds will
also be made available to defray housing costs for up to five Young
Scholars.
Begun in 2000, the YS Program consistently features some of the most
interesting and innovation scholarship at the HES Conference. If
you, or a student you know, is interested, please submit a Young
Scholar's Paper Proposal using the link on the Conference Website (
http://www.hes-conference2009.com/ ).
Please designate in your abstract that this is a "Young Scholar
Proposal." The deadline for submissions is February 15, 2009.
From the proposal abstracts received, in consultation with the
conference organizer, the President (Avi Cohen) will create up to 4
thematically linked Young Scholar sessions. Abstracts will be chosen
based on originality and scholarly merit as well as clarity of
exposition and the strength of the argument. If the President feels
there are good abstracts that fail to fit with other YS proposals
thematically, he has the option of asking the HES conference
organizer to fit the additional Young Scholars into the regular
program. All Young Scholars whose abstracts are chosen will receive
free registration, a banquet ticket and a year's membership to the
Society.
In addition, YS who submit their full paper for consideration by the
end of April 2009 will be considered for free conference
accommodation. From submitted papers, the HES President may choose
up to 5 Young Scholars for free accommodation. A Young Scholar must
be a PhD candidate or have obtained the PhD in the 2 years preceding
the HES Conference.
Left Forum
While the new year may well bring more harrowing than heartening
economic news, organizers at the Left Forum and at Pace university
have been able to secure more rooms and conference space. The
increased number of people that will now be able to present and
attend provides an unprecedented opportunity to expand the Left
dialogue and raise many voices in this time of growing challenges to
all of our struggles.
We are thus extending the panel submission deadline to February 1st.
If you haven't already submitted we would like to suggest that you
and your colleagues consider this opportunity to join us at the
Forum. To submit a panel proposal, please press the "call for
panels" link on the opening page of the website (
www.leftforum.org ) or call
or email us at
leftforum@leftforum.org. (212) 817-2003.
We realize that the winter holidays are not the best time for people
to get excited about participating in a spring conference but a long
lead time is necessary in planning and we hope can get you in motion
so that you will not be disappointed come April. We would not have
been able to offer this extension of the deadline, but have gotten
word from the facilities folks that we now have the expanded
conference space.
Appel à articles pour la Revue
française de socio-économie
Date limite d’envoi des
articles : 15 juillet 2009
Si les controverses récentes autour de la mesure de « réalités
sociales » (le « chômage », la « pauvreté », ou les évaluations
controversées du « progrès » et du « bien- être », etc.), et de
pratiques ou d’activités (indicateurs de performance des services
publics par exemple), ont pu un temps bousculer les catégories
établies, elles n’ont pas toujours débouché sur l’engagement de
réflexions qui auraient permis de comprendre leur fondement et,
éventuellement, de remettre en cause leur légitimité, en renouvelant
par exemple les alliances intellectuelles, économiques ou politiques
au principe de leur existence.
4th Annual Green Economics Conference
The clash between Ecology and Economy, Greening the Economy,
Explanations, causes and answers to the current crises: the climate,
biodiversity, mass species extinction, commodity fluctuations,
poverty, and the credit crunch?
at Mansfield College, Oxford University, Friday 31st July, to
Saturday 1st August 2009.
Union for Radical
Political Economics
Call for Papers - Annual Meeting of ASSA
Atlanta, January 3-5, 2010
URPE invites proposals for individual papers and complete sessions
for the URPE at ASSA annual meeting. URPE welcomes proposals on
radical political economic theory and applied analysis from a wide
variety of theoretical traditions.
Click here for detailed
information and the form.
Politics of Public
Health Data Session
"Macroeconomics, Political Systems, and Population Health and Health
Inequities”
Based on discussion at the Spirit of 1848 business meeting at the
2008 annual meeting of the American Public Health Association, the
Politics of Public Health Data session will have an OPEN CALL FOR
ABSTRACTS that critically examine how macroeconomics and political
systems shape population health and health inequities, that is, the
political economy of health writ large.
Examples of presentations could include results from empirical
studies that demonstrate how the current economic market crisis
affects population health and the magnitude of health inequities, or
studies that demonstrate relationships between macroeconomic factors
and/or political systems and temporal trends in overall levels of
population health and/or the magnitude of health inequities.
Additional possibilities include how policies of international
economic institutions (e.g., The World Bank) or trade agreements
(e.g., NAFTA) affect population health and health inequities,
including with regard to policies and agreements pertaining to water
and sanitation. Presentations based on research in the U.S. or in
other countries are welcome; studies can focus on only one country
or do cross-country or cross-region comparisons. The session will
consist of 2-3 presentations and a discussant, and will allow for
adequate time to solicit questions or comments from the audience.
Reminder: for this session we are issuing an open call for
abstracts, meaning that: presentations for this session will be
selected from abstracts submitted in response this “call for
abstracts.”
This session will take place at the 137th annual meeting of the
American Public Health Association, in Philadelphia, PA, on Monday,
November 9th, in the 2:30 to 4:00 pm APHA time slot.
For any questions about this session, please contact Spirit of 1848
Coordinating Committee member Catherine Cubbin (email:
ccubbin@austin.utexas.edu
)
Abstracts are due on FEBRUARY 11, 2009. Submit to
http://apha.confex.com/apha/137am/oasys.epl
From
http://www.spiritof1848.org/2009%20call%20for%20abstracts.htm
Conference of the
Regulating for Decent Work Network
Regulating for decent work: innovative regulation as a response to
globalization
International Labour Office,
Geneva, Switzerland
8-10 July 2009
Call for abstracts
Deregulatory narratives have recently gained ground in both the
research and policy arenas in efforts to quantify and compare labour
laws and to assess their economic impacts. In initiatives to advance
global production and investment too, flexibilisation is advanced as
necessary and desirable for enhancing competitiveness and creating
employment.
Click here
for detailed information.
L'ADEK
L'ADEK vous signale cet appel:
APPEL A CONTRIBUTIONS : journée sur Sismondi, le 26 juin au Centre
de Recherche Historique (EHESS, Paris)
Sous les auspices du Centre de Recherche Historique, il se tiendra
le vendredi 26 juin 2009, à Paris, une journée d'étude consacrée
al'œuvre économique et historique de SISMONDI.
L'actualité invite à réévaluer l'apport du premier grand penseur
hétérodoxe de l'économie politique, son approche socio-historique de
l'analyse économique, sa critique théorique de l'équilibre des
marchés, sa conception de l'économie comme science morale et
politique posant que la richesse des nations ne va pas sans un
partage équitable. Pour cette journée Sismondi, les organisateurs
ont déjà prévu d'animer des séances autour de certains thèmes tels
que : l'impôt, la population, le bonheur, le progrès économique ou
la rente foncière. Ces thèmes ne sont pas réservés, ils ne sont pas
davantage exclusifs ; toute contribution est la bienvenue.
Toute personne désireuse de présenter une contribution est
cordialement invitée à se faire connaître auprès d'Alain Guéry,C.R.H.
, 54 boulevard Raspail, 75006 Paris, ou : guery@ehess.fr. Il lui
suffit d'indiquer le titre de la communication projetée en
l'accompagnant d'une courte page de présentation. Les propositions
sont reçues jusqu'au 31 mars.
Le Centre de Recherche Historique est un laboratoire du
CNRS,fonctionnant dans le cadre de l'Ecole des Hautes Etudes en
Sciences Sociales, et qui se compose de plusieurs équipes
thématiques. Sous la
responsabilité d'Alain Guéry, directeur de recherche au
CNRS,l'équipe « Don, Monnaie, Prélèvement » compte une
dizained'économistes et d'historiens qui ont précédemment travaillé
sur les
œuvres de Simmel, Commons, Montchrestien et Cantillon.
Le programme définitif de la journée sera établi le 31 mai, et les
contributions écrites parvenues à cette date seront communiquées par
voie électronique à toutes les personnes désireuses de participer.
Les inscriptions sont dès maintenant ouvertes auprès d'Alain Guéry.
Le présent appel à contribution se double d'un appel à expertise
pour celles et ceux qui accepteraient de présenter un rapport oral
sur l'une des contributions enregistrées. Les frais éventuels de
transport et d'hébergement seront à la charge des intervenants.
European Journal of Economic and
Social Systems
Cher Collègue,
Veuillez trouver ci-joint un fichier
PDF avec un appel à contributions pour un numéro spécial du
European Journal of Economic and Social Systems sur « La crise
économique et financière de 2008 ».
Veuillez faire circuler cet appel dans vos réseaux scientifiques SVP.
Nous nous réjouissons d'ores et déjà de recevoir vos soumissions en
temps voulu.
Meilleurs salutations et joyeuses Fêtes,
Louis-Philippe Rochon et Sergio Rossi
Edwin Le Heron
Basque Country 6th
International Conference – Call for Papers
The Department of Applied Economics V of the University of the
Basque Country and the Cambridge Centre for Economic and Public
Policy, Department of Land Economy, of the University of Cambridge
are organizing the 6th International Conference “Developments in
Economic Theory and Policy”. The Conference will be held in Bilbao
(Spain), in July 2-3, 2009, at the Faculty of Economics and Business
of the University of the Basque Country.
Although papers are invited on all areas of economics, there will be
Plenary Sessions with Invited Speakers about the following topics:
- Regional Economics
- Current Economic and Financial Crisis
- 21st Century Keynesian Economics
Suggestions for ‘Organized Sessions’ are encouraged. An Organized
Session is one session constructed in its entirety by a Session
Organizer and submitted to the conference organizers as a complete
package. Session organizers must provide the following information:
- Title of the session, name and affiliation of the organizer, name
and affiliation of chair (if different than organizer)
- Titles of the papers, name(s) and affiliation(s) of author(s)
In addition, contact information must be provided for each
participant (name, address, telephone and fax numbers, e-mail
address).
Besides plenary, organized and normal sessions, there will also be
graduate student sessions (i.e., students currently making a MSc or
a PhD programme). In these parallel sessions, students can present
their research and discuss that of other students. Participants in
graduate student sessions will have to pay a lower conference fee.
Please provide proof of status at the time of payment; this can
consist of proof of enrollment or a letter from the department
chair.
The deadline to submit papers and ‘Organized Sessions’ is 31st May
2009.
For more information, you can contact with Jesus Ferreiro (
jesus.ferreiro@ehu.es )
or visit the website
www.conferencedevelopments.com
Top
Conferences, Seminars
and Lectures
Summer School of the Research
Network Macroeconomics and Macroeconomic Policies
“Keynesian Macroeconomics and European Economic Policies”
02 -- 9 August 2009, Berlin-Pichelssee, Germany
Location: IGM-Bildungsstaette
The summer school aims at providing an introduction to
Post-Keynesian economics and to the problems of European economic
policies as well as presenting some ongoing research to interested
graduate students (MA and PhD) and junior researchers. It will
consist of overview lectures, a panel discussion, student study
groups and academic papers and it will feature leading international
researchers in the area, like Philip Arestis (UK), Robert Blecker
(USA), Eckhard Hein (Germany), Marc Lavoie (Canada), and Engelbert
Stockhammer (Austria). Issues of monetary economics, the theory of
growth and distribution, and the relation of Post-Keynesian
Economics to other heterodox traditions, but also to the now
prevalent New Keynesian approach, will be covered as well as
applications of Keynesian theory to issues of the current financial
market crisis, unemployment, monetary policy and macroeconomic
policy coordination in the EU.
Language is English. There is a fee of € 250,- for each participant
for accommodation and meals. Travelling costs cannot be covered.
Application: Send a letter of motivation (max. 2 pages), your CV,
the questionnaire (see
http://www.boeckler.de/33_94099.html ) and the address of one
academic adviser who may be contacted for reference to
susanne-stoeger@boeckler.de no later than *02nd
March, 2009*. Accepted participants will be informed by mid-April
and will be provided with a reading package for the Summer School.
More information, questionnaire and updates on the summer school:
http://http://www.boeckler.de/33_94099.html
More information on the research network:
http://www.boeckler.de/cps/rde/xchg/hbs/hs.xsl/36176_36330.html
Keynes-Gesellschaft
Einladung
zur 4. wissenschaftlichen Tagung der Keynes-Gesellschaft am 16. und
17. Februar 2009 in Wien
Hiermit lädt die Keynes-Gesellschaft Mitglieder und Nichtmitglieder
zur Teilnahme an der o.a. Tagung in Wien ein; diese findet statt in
der „Kammer für Arbeiter und Angestellte für Wien“, Prinz-Eugen-Str.
22 A-1040 Wien (nähe Südbahnhof).
Aktuelle Finanzkrise und andauernde Herausforderungen für die
Europäische Währungsunion und für andere Währungsräume
1.Zur Finanzkrise
1 Georg Erber (DIW): Bankenkrise und geldpolitischen Fehler: Gibt es
eine inverse
Liquiditätsfalle?
2 Leander Hollweg: Kreditvergabepraxis in den USA zwischen
Risikorating und
Sozialpolitik
3 Gustav Horn/Heike Joebges: Zur Anatomie der Finanzmarktkrise
4 Ewald Waltershausen: Immobilienpreise/Vermögenswerte und
Finanzmarktkrise
5 Podiumsdiskussion
2. Zur europäischen Währungsunion
6 Flassbeck, Heiner (Unctad): European integration: model or
monster?
7 Fritz Helmedag (Chemnitz): Die Geldpolitik der EZB und das
Preisniveau bzw. die
Inflationsrate
8 Peter Rühmann (Jena): Zur Bedeutung der räumlichen Mobilität in
einer Währungsunion
9 Jörg Gude: EWWU – Alte Befürchtungen – neue Probleme,
Lösungsansätze
Die Tagung beginnt am Montag, den 16. Februar um 9.30. Die
Referenten und die Arbeitstitel der Referate entnehmen Sie bitte der
Anlage. Das aktualisierte Tagungsprogramm finden Sie unter „Aktuelles“
auf der Website der Keynes-Gesellschaft“. Die Tagung soll am
Dienstag gegen 16 Uhr enden. Während der Tagung findet auch eine
Mitgliederversammlung statt.
Für Mitglieder ist die Tagung kostenlos. Nichtmitglieder zahlen
einen Beitrag von 60 €, der im Falle einer Beitritts für 2009
angerechnet wird. Bitte melden Sie sich zur Tagung mit dem
beigefügten Fax bei mir an.
Für die Übernachtung sind bei der Firma „123Tourismus“ folgende
Hotel-Zimmer-Kontingente von Samstag, 14.2, bis Dienstag, 17.2, für
die Tagungsteilnehmer bis 6 Wochen vor Anreise reserviert.
- 20 Doppelzimmer im Hotel „Clima Cityhotel“ in der Theresianumgasse
21 A (1040 Wien) zum Preis von 90 Euro pro Nacht und Zimmer
einschließlich Frühstück.
- 30 Einzelzimmer im „Austria Trend Hotel beim Theresianum“ (Favoritenstrasse
52, 1040 Wien) zum Preis von 70 Euro pro Nacht einschließlich
Frühstück.
Beide Hotels liegen in der Nähe des Tagungsorts. Um diese
Vorzugspreise zu erhalten, muss Ihre Anmeldung bis zum 03. bzw. 05
Januar 2009 bei der o.a. Firma unter der Stichwort „Keynes-Tagung“
unter der Adresse office@123tourismus.at eingegangen sein (notfalls
per Post Bernhard Gasse 16/12 A-1070 Wien). Jeder Teilnehmer erhält
eine individuelle Bestätigung. Als Garantie der Buchung benötigt die
o.a. Firma von jedem Teilnehmer eine Kreditkartennummer und deren
Ablaufdatum, die Zahlung erfolgt direkt vor Ort.
Ich hoffe, zur Tagung zahlreiche Mitglieder und Gäste begrüßen zu
können.
SEMINAIRE POLES 2/3
Vendredi 23 janvier 2009
à la M. S. H.
4 rue de la Croix Faron – Saint Denis –
RER B - Arrêt : La Plaine - Stade de France
Salle de Conférences - Informations pour accéder à la MSH :
www.mshparisnord.org/acces.htm
14h – 17h
Edwin LE HERON fera une présentation sur le thème : "Crise
financière et
comportement bancaire dans un modèle SFC post keynésien"
Discutant : Jacques MAZIER
CEPN – UMR 7115
Centre d’Economie de l’Université Paris Nord
UFR Sciences Economiques
99, Avenue Jean-Baptiste Clément
93430 VILLETANEUSE
01 49 40 32 55
01 49 40 20 83
University of
Cambridge
The St Catharine's College Political Economy seminar series this
term will be on the theme of the 'Financial Crisis: Causes and
Impact'.
The first seminar will be by Professor Philip Arestis (University of
Cambridge): on the 'Current Financial Crisis and Regulatory
Implications' and will be held in the Rushmore Room (St Catharine's)
on 20 January from 6pm to 7.30pm.
All are welcome to attend the seminar - and future events this term
which are detailed below.
12 February (6pm – 7.30pm): William Keegan (Observer): Fifty Years
of Boom and Bust from Macmillan to the Credit Crunch Ramsden Room
26 February (6pm – 7.30pm): Terry Barker (University of Cambridge):
Predictions of 'Return to Normal' in the Global Economy Ramsden Room
12 March (6pm – 7.30pm): Malcolm Sawyer (University of Leeds):
Economic Policy After the Financial Crisis Ramsden Room
Top
Job Postings for
Heterodox Economists
Program Associate
http://www.americaspolicy.org/
Program Associate Job Description
The Americas Program Program Associate is a full time position based
in Mexico City available soon to qualified candidates.
Main responsibilies include:
1. Production of materials: Tracking, copyedit and coordination of
production of all Americas Program (
www.americaspolicy.org ) articles
in English, Spanish and Portuguese. The Program Associate also
coordinates translation and promotion of materials to the public and
media, management of subscriber lists/listserves/google groups of
32,000 people.
2. Fundraising: proposal writing, research funding sources,
individual donor drives, and generating from fees, royalties and
honoraria, grant reports.
3. Media Outreach: to Spanish and English language media in the U.S.
and Latin America. Also includes tracking media appearances.
4. Some administration: The CIP office does much of the
adminstration but the Program Associate handles payments to
providers, petty cash and expense reports, copies in coordination
with administrative staff in Washington DC and webmaster in New
Mexico.
5. Miscellaneous tasks: website changes, relations with other
organizations, etc.
Skills required:
Fluent written and spoken English and Spanish. Portuguese a plus.
Basic Word/Excel, HTML/dreamweaver, Quark. Basic email distribution
web-based software also a plus.
Salary and Benefits: According to experience
Send resume and cover letter to
americas@ciponline.org
Contact: Katie Kohlstedt,
americas@ciponline.org, 202-536-2649
Research Fellow in Natural Resource
Economics
Inviting Expressions of Interest
Expressions of interest are invited for the post of Research Fellow
in Natural Resource Economics to head up and develop a dynamic
Marine Socioeconomic Research Unit at the National University of
Ireland Galway, as part of the Irish Sea Change Programme.
Post Doctorate
Degree Grant
The Economics, Management and Demography Doctoral School (n°42) will
be equipped for the year 2009 - 2010 with a post doctorate degree
grant.
This one can be awarded to the following research teams belonging to
the Doctoral School :
- GREThA UMR 5113
http://beagle.u-bordeaux4.fr/gretha-new/ (Dir. Pr. Y.
Lung)
- LARE-Efi
http://lare-efi.u-bordeaux4.fr/ (Dir. Pr. Y. Marquet)
- IRGO
http://irgo.u-borderaux4.fr/ (Dir. Pr. G. Hirigoyen)
- IEDUB bergou@u-bordeaux4.fr
(Dir. Pr. Ch. Bergouignan)
Annual amount remuneration :
Euros 40 000 (without pay roll taxes deduction)
Monthly net wage : euros 2 000
Both french and foreign post doctor's degree researcher is
authorized to apply for this grant.
*How to apply for the grant* :
Contact the director of the specific research team for information.
The research teams directors belonging to the Doctoral School will
have to inform the School about the candidates.
Then the Doctoral Board will award the post doctorate degree grant,
after having discussed choice with the concerned research teams
directors.
*Candidate deadline* : March 1, 2009
Top
Heterodox Conference Papers and Reports and Articles
Excess Capital and Liquidity
Management
Jan Toporowski
Theory presupposes that firms limit their financial needs when
undertaking profitable ventures in nonfinancial activities.
According to Jan Toporowski, firms may hold excess capital (in
financial assets) relative to the capital needed to undertake
production in order to manage liquidity. Thus, the internal
liquidity of large companies, not monetary policy, is the key factor
in nonfinancial business investment. In a financially advanced
economy, interest is a purely monetary phenomenon.
The ideas in this paper are connected to the industrial economics of
Michal Kalecki and Hyman P. Minsky, as well as the monetary
economics of Kalecki. The author’s analysis extends the view of
excess capital held by John Maynard Keynes.
http://www.levy.org/pubs/wp_549.pdf
An Empirical Analysis of Gender Bias
in Education Spending in Paraguay
Thomas Masterson
Gender affects household spending as a result of female bargaining
power and in terms of spending on children. Research Scholar Thomas
Masterson assesses the impact of objective and subjective gender
patterns on intrahousehold decision-making processes related to
education expenditures in Paraguay. He observes what appears to be a
pro-male bias, but his findings are inconsistent between rural and
urban areas, and between age groups. Also, gender patterns seem to
be more pronounced at the household level than at the individual
level—a result that is contrary to a similar study conducted in
India by Geeta Gandhi Kingdon in 2005.
More information about asset ownership and decision making is needed
before there can be effective policy interventions, says Masterson.
It is difficult to see the relationship between women’s economic
empowerment within the household and their bargaining power, at
least in terms of spending on education.
http://www.levy.org/pubs/wp_550.pdf
Small Is Beautiful: Evidence of an
Inverse Relationship between Farm Size and Yield in Turkey
Fatma Gül Ünal
The inverse relationship between farm size and yield per acre has
crucial and far-reaching implications for rural development policy;
for example, it may provide economic justification for
redistributive land reforms. Despite more than 40 years of research,
however, there is no consensus on what causes the inverse
relationship.
This paper by Research Associate Fatma Gül Ünal affirms that there
is a very strong inverse size-yield relationship in Turkey. The
relationship is driven by labor input per decare (1,000 square
meters, or .25 acre), where land fragmentation appears to have a
positive impact on productivity. The author’s findings negate recent
“market-friendly” agricultural reforms, while favoring land
redistribution supported by technical and financial assistance for
farmers. Given current macroeconomic policy, she foresees rising
inequality and poverty in the country.
http://www.levy.org/pubs/wp_551.pdf
'Financialisation'
Hein, Eckhard: 'Financialisation' in a comparative static,
stock-flow consistent Post-Kaleckian distribution and growth model,
IMK Working Paper, Nr. 21/2008:
http://www.boeckler.de/pdf/p_imk_wp_21_2008.pdf
Gatekeeper
Economics II
Gatekeeper Economics II — When Ivory Tower Theory and Practice Go
Bad: The Milton Friedman Aberration — Capitalism as Fascism to
Create a World that Fits Friedman’s Idiosyncratic and Normative
Theory of What the World We Live in Should Be (when smart guys go
wrong—good and evil in economics)
W. Robert Needham (December 2008)
“A theory however elegant and economical must be rejected or revised
if it is untrue; likewise laws and institutions no matter how
efficient and well-arranged must be reformed or abolished if they
are unjust.”
Download the
paper.
Grupo de Propaganda
Marxista
El presente mensaje tiene por objeto informar de que hace
aproximadamente diez días, subimos a nuestra página Web:
http://nodo50.orge/gpm , el
documento que hemos elaborado sobre la actual crisis capitalista
mundial, en formato htm de Word.
Top
Heterodox Journals and
Newsletters
Review of Social Economy
Volume 66 Issue 4 is now available online at informaworld
( http://www.informaworld.com
).
This new issue contains the following articles:
Rethinking the Costs of Economic Growth. Association for Social
Economics Presidential Address, 2008
Author: John P. Tiemstra
Competition and Participation in Religious Markets: Evidence from
Victorian Scotland
Authors: Robert I. Mochrie; John W. Sawkins; Alexander Naumov
Trade, People and Places: A Social Economic–Geographic Approach to
Comparative Institutional Advantage
Authors: Geoffrey Schneider; Paul Susman
Uncertainty, Rationality and the Study of Social Institutions
Author: Oliver Kessler
Some Notes on the Nature of Money and the Future of Monetary Policy
Author: Claudio Sardoni
Giving–How Each Of Us Can Change The World
Author: Wilfred Dolfsma
Capitalism and its Economics–A Critical History
Author: Jack Reardon
Rethinking Political Institutions: The Art of the State
Author: Cristian Pérez Muñoz
The Economics of Non-selfish Behavior: Decisions to Contribute Money
to Public Goods
Author: Martha A. Starr
The Year of the Euro: The Cultural, Social, and Political Import of
Europe's Common Currency
Author: Miguel-Ángel Galindo
Hans Enghave Jensen, 1919–2008
Revista De Economia
Institucional
VOLUME 10, NUMBER 19, SECOND SEMESTER 2008
http://www.economiainstitucional.com/eng/current/index1.htm
Editorial
Articles
The Source of the Panic of 2008: The Mortgage Credit Market Crisis
in the United States
Mauricio Pérez Salazar
Time of Uncertainty. Causes and Consequences of the Global Crisis
César Ferrari
Orlando Fals Borda, Commitment Sociologist
Gonzalo Cataño
What is Global Justice?
Thomas Pogge
Hurwicz and the Judge of the Last Instance
Jorge Iván González
Evaluation of the Laws: Criminology Lessons
Mauricio Rubio
Computers and Economic Democracy
Allin Cottrell y Paul Cockshot
Economic Consequences of Independence in Colombia
Salomón Kalmanovitz
The Colonial Origin of the Differences in Development between
Countries: Neoinstitutionalism and Hispano-America
Álvaro Albán Moreno
Colombia and Venezuela: Economic Performance, Exchange Rate and
State-business Relations
Alberto Martínez C.
Over-education in the Colombian Labor Market
Jhon James Mora
Quantitative Fiscal Rule to Consolidate and Shield the Colombian
Public Finances
Ignacio Lozano, Hernán Rincón, Miguel Sarmiento y Jorge Ramos
Classics
Historical Perspective of Colombian Economy
Luis Ospina Vásquez
Notes and Discussions
Speech on Race
Barack Obama
Reviews
“Critical Yeast” and the Art of Amassing Peace
Bernardo Pérez Salazar
http://www.economiainstitucional.com/eng/
International Journal of
Political Economy
IJPE, Vol. 37, no. 1 (Spring 2008)
Table of Contents
“Using Minsky’s Cushions of Safety to Analyze the Crisis in the U.S.
Subprime Mortgage Market” by Jan Kregel (Levy Economics Institute,
Bard College, Annandale-on-Hudson, U.S.A.)
“The World Bank: Development Agency, Credit Union, or Institutional
Dinosaur?” by Chee Khoon Chan (Universiti Sains Malaysia, Penang,
Malaysia)
“The Shrinking Gains from Global Trade Liberalization in Computable
General Equilibrium Models: A Critical Assessment”, by Frank
Ackerman (Tufts University, U.S.A.) and Kevin P. Gallagher (Boston
University, U.S.A.)
“Expanding the Boundaries of the Economics of Crime” by Steven
Pressman (Monmouth University, U.S.A.)
IJPE, Vol. 37, no. 2 (Summer 2008)
TITLE OF SPECIAL ISSUE: “The Political Economy of Interest Rate
Setting: Critical Perspectives”
Table of Contents
Editor’s Introduction
“The Political Economy of Interest-Rate Setting, Inflation and
Income Distribution”, by Louis-Philippe Rochon (Laurentian
University, Sudbury, Ontario, Canada) and Mark Setterfield (Trinity
College, Hartford, CT, U.S.A.)
“The Rate of Interest, Monetary Policy, and the Concept of
‘Thrift’”, by John Smithin (York University, Toronto, Ontario,
Canada)
“What Did the Fed Do When Inflation Died? An Empirical
Investigation”, by Olivier Giovannoni (University of Texas at
Austin, TX, U.S.A.)
“Equity Returns and Monetary Policy”, by H. Sonmez Atesoglu
(Clarkson University, Potsdam, NY, U.S.A.)
“Basel II and the Political Economy of Banking Regulation-Monetary
Policy Interaction”, by Peter Docherty (University of Technology,
Sydney, Australia)
IJPE, Vol. 37, no. 3 (Fall 2008)
TITLE OF SPECIAL ISSUE: “In Search of the Developmental State”
Table of Contents
Editor’s Introduction
“The Search for a New Developmental State”, by Jamee K. Moudud
(Sarah Lawrence College, Bronxville, New York, U.S.A.) and Karl
Botchway (City University of New York, New York, NY, U.S.A.)
“The Concept and Evolution of the Developmental State’”, by Esteban
Pérez Caldentey (ECLAC, Santiago, Chile)
“Towards a New Developmental Paradigm for Latin America”, by Ignacio
Perrotini (Universidad Nacional Autónoma de México, Mexico City,
Mexico), Juan Alberto Vázquez (Benemérita Universidad Autónoma de
Puebla, Puebla, Mexico) and Blanca L. Avendaño (Benemérita
Universidad Autónoma de Puebla, Puebla, Mexico)
“What is New and What is Left of the Economic Policies of the
New-Left Governments of Latin America?”, by Juan Carlos Moreno-Brid
and Igor Paunovic (ECLAC,, Mexico City, Mexico)
IJPE, Vol. 37, no. 4 (Winter 2008-2009)
TITLE OF SPECIAL ISSUE: “Financial Flows and Exchange Rate Movement
in the Global Economy”
Table of Contents
Editor’s Introduction
“Insuring against Private Capital Flows: Is It Worth the Premium?
What Are the Alternatives?” by Jörg Bibow (Skidmore College,
Saratoga Springs, New York, USA)
“Has Capital Account Liberalization in Latin American Countries Led
to Higher and More Stable Capital Inflows?”, by Jesus Ferreiro
(Universidad del País Vasco, Bilbao, Spain), Eugenia Correa
(Universidad Nacional Autónoma de México, Mexico City, Mexico), and
Carmen Gomez (Universidad del País Vasco, Bilbao, Spain)
“The Decline of the Exchange Rate Pass-Through in Brazil: Explaining
the ‘Fear of Floating’”, by Carlos Eduardo Schönerwald da Silva (Universidade
do Vale do Rio dos Sinos, São Leopoldo, Brazil) and Matias Vernengo
(University of Utah, Salt Lake City, USA)
“The Effects of External Capital Flows in Developing Countries:
Financial Instability or “Wrong” Prices”, by Noemi Levy Orlik
(Universidad Nacional Autónoma de México, Mexico City, Mexico)
The Erasmus Journal for
Philosophy and Economics (EJPE)
The Erasmus Journal for Philosophy and Economics (EJPE) is proud to
announce the publication of its first issue online at
http://ejpe.org
EJPE is a biannual academic journal publishing research which
improves our understanding of the methodology, history and
inter-disciplinary relations of economics. The journal is supported
by the Erasmus Department of Philosophy and Erasmus Institute for
Philosophy and Economics (EIPE) and is free to access.
The first issue includes
Realism from the ‘lands of Kaleva’: an interview with Uskali Mäki
(Why) do selfish people self-select in economics?
By Alessandro Lanteri
Are we witnessing a ‘revolution’ in methodology of economics? About
Don Ross’s recent book on microexplanation.
By Maurice Lagueux
Reply to Lagueux: on a revolution in methodology of economics
By Don Ross
The impossibility of finitism: from SSK to ESK?
By David Tyfield
Bernard Mandeville and the ‘economy’ of the Dutch
By Alexander Bick
Is history of economic thought a “serious” subject?
By Maria Cristina Marcuzzo
Reviewing 'The Cult of Statistical Significance': an exchange
between Aris Spanos and Stephen Ziliak & Deidre McCloskey
The Call For Papers for future issues is now permanently open.
Revue de la Régulation
La sortie du numéro 3/4, numéro double, de la Revue de la régulation
http://regulation.revues.org/sommaire2813.html
, marque une étape
du développement de notre politique éditoriale. Sans sacrifier à
l’exigence de diversité propre à une revue généraliste, le CR a
décidé de s’engager dans la publication de dossiers thématiques. Ces
dossiers sont le résultat d’initiatives menées en collaboration avec
différents chercheurs à partir de colloques ou d’appel à
contribution. Ces dossiers sont co-dirigés dans le cadre d’un «
comité éditorial » composé à parité par les porteurs du projet et
des membres du CR. Le comité éditorial sélectionne les contributions
qu’il juge les plus intéressantes et les soumet aux mêmes règles
d’évaluation que les publications figurant sous la rubrique « varia
». Les dossiers sont alors publiés sous la
responsabilité scientifique des porteurs du projet.
Click here
for detailed information.
History of Economics Review
No. 48, Summer 2008
Articles
- Marshall vs. Walras on Equilibrium and Disequilibrium
Franco Donzelli
- From Marketability to Flexibility: Pantaleoni’s ‘Impure’ Theory of
Money and Banking
Nicola Giocoli
- Alfred William Flux (1867–1942): A Mathematician Successfully ‘Caught’for
Economics by Marshall
Peter Groenewegen
- One Hundred Years From Today
Joseph Schumpeter’s Das Wesen und der Hauptinhalt der theoretischen
Nationalökonomie
Peter Kesting
- Communications and Notes from the Archives
Obituary: Dave Clark (1946–2008)
Peter Groenewegen
- A Wealth of Notions
Tony Aspromourgos
- Review Article
The Paretian School of Thought in Italy
Domenicantonio Fausto
- Book Reviews
F.A. Hayek. The Collected Works of F.A. Hayek, Volume 2.
The Road to Serfdom
Tony Endres
- Carl Wennerlind and Margaret Schabas, eds. David Hume’s Political
Economy
Peter Groenewegen
- Ralph Harris. Ralph Harris in His Own Words:
The Selected Writings of Lord Harris
J.E. King
- Italo Magnani. Dibattito Tra Economisti Italiani di Fine Ottocento
Michael McLure
- Paul Davidson. John Maynard Keynes
Colin Rogers
- D.P. O’Brien. The Development of Monetary Economics. A Modern
Perspective on Monetary Controversies
Michael Schneider
Rethinking Marxism
Rethinking Marxism A Journal of Economics, Culture & Society
Volume 21 Issue 1 2009
http://www.informaworld.com/smpp/title~db=all~content=g906242092~tab=toc
Four Poems
Author: Minnie Bruce Pratt
Poststructural Logic in Marx's Theory of Value
Author: David Kristjanson-Gural
The Politics of Interventionist Art: The Situationist International,
Artist Placement Group, and Art Workers' Coalition
Author: Mikkel Bolt Rasmussen
The First Person
Author: Ryan Eric
Thoughts on Gramsci's Need “To Do Something 'Fuumlr ewig'”
Author: Joseph Francese
Knowledge versus “Knowledge”: Louis Althusser on the Autonomy of
Science and Philosophy from Ideology—A Reply to William S. Lewis
Author: Hristos Verikukis
GLOBALIZATION UNDER INTERROGATION
Global Justice as Ethico-Political Labor and the Enactment of
Critical Cosmopolitanism
Author: Fuyuki Kurasawa
Rethinking Marx and the Spiritual
Author: Kevin M. Brien
Remarx
An Encounter of Postmodern Marxism with American Studies in South
Korea
Author: Jo-Young Shin
Journal of Innovation
Economics
We have the pleasure to announce the publication of the issue n°2 of
the Journal of Innovation Economics.
The topic is "Dynamics of Innovation, Organization and Governance of
the Firm". You will find it on CAIRN's website:
http://www.cairn.info/revue-journal-of-innovation-economics-2008-2.htm
CASE e-Newsletter
http://www.case.com.pl/plik--23376387.pdf?nlang=710
- Knowledge-based enterprises in Central and Eastern Europe: In need
to innovate!
- A Non-Stimulating Stimulus?
- GDP in the Euro Area to Grow by 1.6% in 2011
- Supporting UNICEF to achieve improvements in outcomes for children
and families in the Western Balkans and the Commonwealth of
Independent States regions
Top
Heterodox
Books and Book Series
Routledge Advances in Heterodox
Economics
Frederic S. Lee, Series Editor
University of Missouri-Kansas City
E-mail: Leefs@umkc.edu
Routledge Advances in Heterodox Economics seeks to promote new
streams of heterodox thinking (or fresh
confluences among the existing paradigms of Austrian, Feminist,
Institutional-Evolutionary, Marxian, Post
Keynesian, Radical, Social, and Sraffian economics) in economic
theory, policy, philosophy, intellectual history,
institutional history, and pedagogy. This includes (but is not
limited to) books in the following areas:
- The synthesis of two or more heterodox theories in the general
fields of microeconomics and macroeconomics, or
in specialized fields such as ecological or development economics
- The history or philosophy of heterodox economics, including
intellectual biographies or histories of
theoretical controversies, past and present
- The development of novel heterodox theories, such as a feminist
theory of international trade
- Heterodox approaches to economic education
- Anthologies of heterodox work in a specific field or area
If you have a project that might be appropriate for this series,
even if it doesn’t fit any of these categories,
please contact Fred Lee ( leefs@umkc.edu ) to explore it. The key
criterion, always, is how well the project
promises to advance heterodox economics in light of the
aforementioned aims.
So far there are nine books published in the series (when it was at
University of Michigan Press) and currently
under Routledge, with four more to be published in the next six
months.
Click here for detailed information.
The Crisis of Social Democratic Trade
Unionism in Western Europe
The Crisis of Social Democratic Trade Unionism in Western Europe:
The Search for Alternatives by Martin Upchurch,
Middlesex University, UK, Graham Taylor and Andrew Mathers,
University of the West of England, UK
There is a developing crisis of social democratic trade unionism in
Western Europe; this volume outlines the
crisis and examines the emerging alternatives. The authors define
‘social democratic trade unionism’ and its
associated party-union nexus and explain howthis traditional model
has been threatened by social democracy’s accommodation to
neo-liberal restructuring and public service reform. Examining the
experience of Sweden, Germany, Britain and France, the volume
explores the historical rise and fall of social democratic trade
unionism in each of these countries and probes the policy and
practice of the European Trade Union Confederation.
The authors critically examine the possibilities for a revival of
social democratic unionism in terms of strategic policy and
identity, offering suggestions for an alternative, radicalized
political unionism. The research value of the book is highlighted by
its focus on contemporary developments and its authors’ intimate
knowledge ofthe chosen countries.
Contents: Social democracy and trade unions; Sweden – social
democracy after the divorce?; Germany – the collapse of a model?;
State, unions, and labourism in Britain; The persistence of French
exceptionalism?; The ‘European social model’: towards a
transnational social democratic trade unionism?; Alternative
futures?; Appendices; References; Index.
To order, please visit:
www.ashgate.com
How Should Research be Organised?
By Donald Gillies
http://www.collegepublications.co.uk/other/?00009
This book presents detailed criticisms of existing systems for
organising research, and outlines a new approach based on different
principles. Part 1 criticizes the research assessment exercise (RAE)
which has been used in the UK from 1986 to 2008. It is argued that
the RAE is both very costly, and likely to reduce the quality of
research produced. The UK government has decided that, from 2009,
the RAE should be replaced by a system based on metrics. In Part 2
this system is criticized and it is argued that it is certainly no
better, and probably worse, than the RAE. In Part 3 of the book, the
proposed alternative system is outlined, and it is argued that it
would produce better quality research at a much lower cost than
either the RAE or the system based on metrics. The arguments are
illustrated by a variety of examples of excellent research, taken
from different fields. These include Einstein's discovery of Special
Relativity, Fleming's discovery of penicillin, Frege's introduction
of modern mathematical logic, and Wittgenstein's work on his
masterpiece: Philosophical Investigations.
The Author: Donald Gillies is Professor in the Department of Science
and Technology Studies, University College London. For a podcast
interview about the book:
www.ucl.ac.uk/sts/gillies.
The Rise of China and the Demise of
the Capitalist World Economy
by Minqi Li
http://www.monthlyreview.org/riseofchina.php
“Minqi Li has accomplished something different and very important.
He has placed the ‘rise of China’ from the Mao
era to today in the context of the history of the entire
world-system. He makes a persuasive case.”—Immanuel
Wallerstein, Yale University
“A thought-provoking account. Minqi Li considers the consequences of
the entry of China into the global
capitalist system, in light of the challenges facing human society
from economic, political, and environmental
constraints. This book makes a major contribution.”—David M. Kotz,
Professor of Economics, University of
Massachusetts, Amherst
In recent years, China has become a major actor in the global
economy, making a remarkable switch from a planned and egalitarian
socialism to a simultaneously wide-open and tightly controlled
market economy. Against the establishment wisdom, Minqi Li argues in
this provocative and startling book that far from strengthening
capitalism, China’s full integration into the world capitalist
system will, in fact and in the not too distant future, bring about
its demise.
The author tells us that historically the spread and growth of
capitalist economies has required low wages,
taxation, and environmental costs, as well as a hegemonic nation to
prevent international competition from
eroding these requirements. With the decline of the economic power
of the United States, its current hegemonic role will deteriorate
and the unprecedented growth of China will so erode the foundations
of capital accumulation—by pushing wages and environmental costs up,
for example—that the entire capitalist system will be shaken to its
core. This is essential reading for those who still believe that
there is no alternative.
Minqi Li is Assistant Professor of Economics at the University of
Utah. He became an adherent of radical
economics as a political prisoner in China from 1990-1992 and began
an intensive study of China’s economy and its role in the world
capitalist system upon his release.
The New Economics of Sustainable
Consumption: Seeds of Change
by Gill Seyfang, University of East Anglia, 2009.
(Palgrave Macmillan, Basingstoke. Hardback ISBN 978-0-230-52533-7)
Climate change is forcing us to rethink our lifestyles, but green
consumerism won’t save the planet. Mainstream approaches simply
cannot deliver the radical changes we need for a sustainable
society. This book offers a fresh look at sustainable consumption,
presenting a holistic ‘New Economics’ approach. It explores how
grassroots community actions for sustainability are experimenting
with new ways of working, measuring value and progress, and
expressing ecological citizenship.
Local organic food systems, low-impact eco-housing, and
complementary currencies are examined to measure their success at
delivering localized economies and inclusive communities, enabling
people to reduce their ecological footprints, harnessing collective
energies and building new forms of social organization. Viewing
these activities as innovative ‘green niches’, the book explores the
opportunities for grassroots innovations to spread and influence
wider society, and the barriers preventing them achieving their
potential.
CONTENTS:
Introduction: A Consuming Issue
Sustainable Consumption: A Mainstream Agenda
Sustainable Consumption and the New Economics
Grassroots Innovations for Sustainable Consumption
Sustainable Food: Growing Carrots and Community
Sustainable Housing: Building a Greener Future
Sustainable Currencies: Green Money from The Grassroots
Conclusions: Seedbeds for Sustainable Consumption
References
GILL SEYFANG is an environmental social scientist at the University
of East Anglia, UK, working on sustainable
consumption. She currently holds a Research Councils UK Academic
Fellowship and is developing a research
programme in Low-Carbon Lifestyles. She is co-editor of 'Corporate
Responsibility and Labour Rights'.
http://www.palgrave.com/products/title.aspx?PID=279575
The Great Financial Crisis: Causes
and Consequences
by John Bellamy Foster and Fred Magdoff
http://www.monthlyreview.org/greatfinancialcrisis.php
The bursting of the housing bubble and the ensuing financial debacle
have left most people, including many economists and financial
experts asking: Why did this happen? If they had been reading
Monthly Review, and were familiar with such articles as “The
Household Debt Bubble,” “The Explosion of Debt and Speculation,” and
“The Financialization of Capitalism,” they would not have needed to
ask. In their new book, The Great Financial Crisis: Causes and
Consequences, Monthly Review editor John Bellamy Foster and
long-time Monthly Review contributor, Fred Magdoff, update this
analysis, exploring the whole course of what is now known as “the
worst financial crisis since the Great Depression”: from the debt
explosion and housing bubble to the subprime debacle and federal
bailout. They argue that this latest financial crash, although
greater than any since 1929, is itself a symptom of deeper problems
connected to the stagnation of the “real” or productive economy of
mature capitalism. Financial bubbles have become the chief means of
countering stagnation, but these inevitably burst, bringing the
underlying economic problems back to the surface. The only recourse
of the system: new and bigger bubbles, leading, as they too pop, to
still greater financial crises and worsening conditions of
production—in what has now become a vicious cycle.
With this as their key, Foster and Magdoff are able to examine the
complex interconnections associated with rising debt, weakening
production and investment, stagnant wages, burgeoning unemployment,
rapidly growing class inequality, spiraling global economic
instability, and spreading militarism and imperialism. At the center
of the story is the latest phase of capitalism, “monopoly-finance
capital,” that has generated a giant casino economy and promotes
enormously exorbitant, exploitative, and corrupt practices as well
as violence abroad—all geared to finding and protecting profitable
ways to invest the corporate capital surplus. Meanwhile, the real,
pressing needs of most people in the society go unaddressed. The
only genuine way out of trap, The Great Financial Crisis argues, is
the promotion of those very measures—such as massively expanding
socially useful public spending, improving the security of the
working class, and democratizing ownership of productive
property—that are invariably opposed by the current system of wealth
and power. If the legendary Mother Jones was right, and we must
educate ourselves for the coming struggle, then this book is today’s
most essential reading.
John Bellamy Foster is editor of Monthly Review. He is professor of
sociology at the University of Oregon and author of Critique of
Intelligent Design (with Brett Clark and Richard York), Naked
Imperialism, Ecology Against Capitalism, Marx’s Ecology, The
Vulnerable Planet, and The Theory of Monopoly Capitalism.
Fred Magdoff taught at the University of Vermont in Burlington, is a
director of the Monthly Review Foundation, and has written on
political economy for many years. He is co-editor of the book Hungry
for Profit: The Agribusiness Threat to Farmers, Food, and the
Environment (with John Bellamy Foster and Frederick H. Buttel).
Are Worker Rights Human Rights?
Richard P. McIntyre
In a global economy, workers must assert their collective rights as
workers in order to win human rights as individuals
About the Book
"In a much-needed intervention, Ric McIntyre recasts the debate
about globalization and labor rights and speeds us to the heart of
the matter: the battle between transnational corporations who
distance themselves from responsibility for the fate of workers, and
labor activists who seek to reestablish bonds of accountability and
moral obligation. The stakes in this struggle are enormous, and Dr.
McIntyre provides crucial insight into the economic and political
dynamics that define it."
—Scott Nova, Executive Director, Worker Rights Consortium,
Washington, DC
http://www.press.umich.edu/titleDetailDesc.do?id=189253
Top
Heterodox Book Reviews
Guilds, Innovation and the European
Economy
S. R. Epstein and Maarten Prak, editors, _Guilds, Innovation and the
European Economy, 1400-1800_. Cambridge: Cambridge University Press,
2008. viii + 352 pp. $99 (cloth), ISBN: 978-0-521-88717-5.
Reviewed for EH.NET by Christine MacLeod, School of Humanities,
University of Bristol.
Top
Heterodox Websites and
Associations
The Alternative Nobel
The Alternative Nobel – The Right Livelihood Awards for ‘reshaped
societies’: The Prize for Outstanding Vision and work on Behalf of
our Planet and its People
http://www.rightlivelihood.org/
Top
The HEN-IRE-FPH Project
The HEN-IRE-FPH Project for
Developing Heterodox Economics and Rethinking the Economy Through
Debate and Dialogue
The Heterodox Economics Newsletter, The International Initiative for
Rethinking the Economy (IRE), and the Charles Leopold Mayer
Foundation for the Progress of Humankind (FPH) (
www.fph.ch ) have undertaken a joint
project to promote the development of heterodox economics. It
involves publishing in the Newsletter reviews, analytical summaries,
or commentary of articles, books, book chapters, theses,
dissertations, government reports, etc. that relate to the following
themes: diversity of economic approaches, regulation of goods and
services, currency and finance, and trade regimes. These themes
relate to heterodox economics and to the open and pluralistic
intellectual debates in economics. For further information about the
project and queries about reviewing, contact Fred Lee (
leefs@umkc.edu ).
Capitalism, the Anti-globalization
Movement and the Third World
Thomas, N. (2007), ‘Capitalism, the Anti-globalization Movement and
the Third World,’ Capital & Class, 92: 45-80.
Review by Yan Liang. University of Redland
yan_liang@redlands.edu
Building on Lost Foundations: The
Institutional Matrix and Socioeconomic Development
Stein, H. (2008), ‘Building on Lost Foundations: The Institutional
Matrix and Socioeconomic Development,’ in H. Stein Beyond the World
Bank Agenda, 111-46, Chicago and London: The University of Chicago
Press.
Review by Yan Liang. University of Redland
yan_liang@redlands.edu
Political Economy and the Idea of
Development
Levin, D. P. (2001) ‘Political Economy and the Idea of Development,’
Review of Political Economy, 13(4): 523-36.
Review by Yan Liang. University of Redlands
yan_liang@redlands.edu
The Global Economy – Myths and
Realities
Perraton, J. (2001) ‘The Global Economy – Myths and Realities,’
Cambridge Journal of Economics 25(5): 669-84.
Review by Yan Liang. University of Redlands
yan_liang@redlands.edu
The Long and Short of It:
Globalization and the Incomes of the Poor
Weller, C. E. and Hersh, A. (2004) ‘The Long and Short of It:
Globalization and the Incomes of the Poor,’ Journal of Post
Keynesian Economics, 26(3): 471-504.
Reviewed by Yan Liang, University of Redlands
yan_liang@redlands.edu.
Social structures of accumulation
theory: The state of the art
McDonough, T. (2007), ‘Social structures of accumulation theory: The
state of the art’, Review of Radical Political Economics, Spring,
40(2): 153-73.
Reviewed
by Lynne Chester, Curtin University, Australia
L.Chester@curtin.edu.au.
The nature of heterodox economics
Lawson, T. (2006), ‘The nature of heterodox economics’, Cambridge
Journal of Economics, July, 30(4): 483-505.
Reviewed by Lynne Chester, Curtin University, Australia
L.Chester@curtin.edu.au.
Top
For Your Information
Capitalism's
Crisis through a Marxian Lens
by Rick Wolff
In Marxian terms, the current crisis emerged from the workings of
the capitalist class structure. Capitalism's history displays
repeated booms and busts punctuated by bubbles. Capitalism's cycles
range unpredictably from local, shallow, and short to global, deep,
and long. To keep capitalism is to suffer its chronic instability.
To deal effectively with capitalism's recurring crises requires
changing to a non-capitalist class structure (cont.).
Nafta's Unhappy Anniversary
For both the US and Mexico, Nafta has failed to deliver on its
economic promises. It's time for it to be renegotiated
Kevin Gallagher and Timothy Wise
guardian.co.uk, Thursday 1 January 2009 11.34 GMT
In Mexico, the fifteenth birthday is a special time, an ornate
coming of age celebration – the quinceañera – complete with dancing
and piñatas. On January 1, the North American Free Trade Agreement
turns 15, but it does not seem like anyone in Mexico is going to
throw any parties for the groundbreaking trade agreement.
http://www.guardian.co.uk/commentisfree/cifamerica/2009/jan/01/nafta-anniversary-us-mexico-trade
Book Review: Can You Spare a
Dime?
Robert Skidelsky
New York Review of Books | Friday, December 26, 2008
The Ascent of Money: A Financial History of the World
by Niall Ferguson
Penguin, 442 pp., $29.95
The historian Alan Taylor used to say, mischievously, that the only
point of history is history. The idea that one could use it to
predict the future, still more to avoid past mistakes, was pure
illusion. Niall Ferguson's The Ascent of Money, a history of
financial innovation written as a television documentary[1] as well
as a book, offers a neat test of Taylor's theory. Ferguson can claim
some powers of anticipation. History convinced him in 2006 that the
good times could not last "indefinitely." This was an insight to
which the Nobel Prize–winning mathematical economists who devised
the Black-Scholes formula—the complicated model for pricing share
options used by the highly leveraged firm Long-Term Capital
Management, which famously crashed in 1998—were oblivious. Their
formula persuaded them that a massive sell-off could occur only once
in four million years.
http://www.skidelskyr.com/site/article/book-review-can-you-spare-a-dime/
The Progressive Program
Dear PERI Friends & Colleagues,
The Obama administration and the new Congress will soon be debating
plans to revive the U.S. economy. To contribute to this debate, a
group of progressive economists sponsored by PERI and the New
School's Schwartz Center for Economic Policy Analysis have issued a
statement of Principles for Economic Recovery and Financial
Reconstruction from Progressive Economists, accompanied by a
detailed Progressive Program for Economic Recovery and Financial
Reconstruction. Both statements are available at www.peri.umass.edu
and at the bottom of this document.
These documents argue that a successful economic program must reject
the extreme free market and neoliberal policies that contributed to
the current economic debacle. They support the Obama
administration's call for a massive economic recovery program, but
argue that to succeed, this program must focus on raising the
incomes and security of the vast majority of Americans who have been
sidelined from power in recent decades.
They also reject calls to simply 'hit the re-start button' which
would put the economy back on the destructive path that led to this
economic disaster. These economists call for an orderly downsizing
and restructuring of the bloated financial system so that it serves
the needs of the real economy, rather than fueling speculation and
fraud. This means that the recovery program must go beyond an
economic stimulus package and must fundamentally restructure a
number of basic financial and economic institutions.
The Progressive Program develops an interlocking set of initiatives
that include: 1) a massive fiscal expansion program centered on
aiding state and local governments, keeping people in their homes,
creating green jobs and public infrastructure, protecting key
industries and instituting government employer-of-last-resort
programs; 2) economic policies to end extreme inequality and restore
a balance of economic and political power to labor, households and
communities; 3) programs to reconstruct, regulate and manage
financial institutions so they will serve people's needs and
contribute to financial stability; 4) international macroeconomic
and financial coordination to make the transition to a fairer and
more balanced global growth regime; and 5) a set of comprehensive
and open Congressional hearings on restructuring the financial
system, along with the rules, institutions and public oversight
mechanisms through which it functions.
>>
Download "Progressive Program for Economic Recovery and
Financial Reconstruction"
>>
Download "Principles For Economic Recovery And Financial
Reconstruction From Progressive Economists"
For more information, or to set up an interview with one of the
statement's authors, please contact:
Debbie Zeidenberg
Political Economy Research Institute
peri@econs.umass.edu
/ 413.577.3147
Political Economy Research Institute
Gordon Hall
418 N. Pleasant St.
Ideas that will be
alien to a generation of economists
Published: December 31 2008 02:00 | Last updated: December 31 2008
02:00
From Mr Robert Jones.
Sir, Martin Wolf suggests that we all now know of the “Minsky
moment” – the point at which a financial mania turns into panic –
and that we should follow John Maynard Keynes in questioning “the
notion of efficient markets” (“Keynes
offers us the best way to think about the financial crisis”,
December 24).
Such sentiments will certainly strike a chord with post-Keynesian
economists and their students, but in mainstream macroeconomics
teaching, such ideas are heretical. They will also seem alien to a
generation of economics professionals whose macroeconomics education
has been systematically denied exposure to Keynes’s fundamental
insights concerning money and uncertainty.
You will find very little coverage of Minsky in the mainstream
macroeconomics textbooks or in the syllabuses of the elite
institutions of the economics academy. Promoters of such ideas have
been excluded to the “heterodox fringes” by the dominance of Chicago
New Classicals and Harvard “New Keynesians”, who have insisted on
rational expectations models in which money is not a major source of
movements in output, except where prices are sticky.
Robert Jones,
Senior Lecturer in Economics,
Nottingham Business School
Copyright
The Financial Times Limited 2008
Post-Keynesian critique of financial
markets needed
Published: December 31 2008 02:00 | Last updated: December 31 2008
02:00
From Prof Roger Lee.
Sir, Your twin editorials in defence of free markets (”Why
the free markets must be defended” and “The
year the god of finance failed”, December 27) are consistent
with your earlier arguments on the same theme but they continue to
involve three all too common and misleading presumptions and so are
limited in terms of critique. First, capitalism cannot be reduced to
markets. It is far more distinctive and formative than that. Thus,
and second, financial markets are not about “money”, as you suggest,
but about finance capital, which is rather more significant –
economically, socially and politically – than money. And third,
financial markets are not merely about exchange: pumping “money from
those who have it but do not need it, to those who need it, but do
not have it”. The very point of finance capital is precisely that it
is very much needed as a means of accumulation by those who possess
it. Indeed, perhaps the biggest lesson of the events of 2008 is
about the way deregulated markets awash with cheap money encouraged
the emergence of “structured finance” – the innovative and highly
profitable production by finance capital of complex financial
products sold on to capital markets - in the ever-present drive to
accumulation.
Markets – all markets – are social constructs. They function in ways
shaped by the social relations, such as those of capitalism, that
establish and regulate them – whether privately or more publicly.
There can be no such thing as a “free market”. Thus the question is
not whether, but what kind of regulation. But if, as Martin Wolf
suggests (December 24), finding a way out of the current financial
crisis necessitates a return to the work of an economist (John
Maynard Keynes) who died more than 62 years ago, recent claims about
the performance of economics over the past seven years as the
university discipline with the highest rating in the 2008 Research
Assessment Exercise in the UK look more than a little tarnished.
A thoroughgoing, post-Keynesian critique of the political economy of
financial markets is desperately needed just now, but it must
emanate from well beyond, as well as from within, academic
economics.
Roger Lee,
Professor of Geography,
Queen Mary,
University of London
Copyright
The Financial Times Limited 2008
Whose Interests
Will Shape Barack Obama’s “Change”?
Radical Change Needs Pressure from Below
By Ismael Hossein-zadeh
Abstract. Barack Obama was elected by the majorities of both the
grassroots and the ruling elites. His mandate thus comes both from
below, or the left, and above, or the right. Both sides are
anxiously echoing his winning slogan of “change.” The question,
therefore, is no longer simply change (as the market meltdown has
made change an urgent universal demand), but what kind of change?
Whose mandates or interests will guide the course of the urgently
needed change? The answer, in a nutshell, seems to be dependent on
the outcome of the balance of power, or the outcome of the ongoing
(though largely submerged) class struggle.
Download the paper.
Top
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