Tag Archives: Frederic S. Lee

Advancing the Frontiers of Heterodox Economics: Essays in Honor of Frederic S. Lee (2015)

This book is now in paperback. https://www.routledge.com/Advancing-the-Frontiers-of-Heterodox-Economics-Essays-in-Honor-of-Frederic/Jo-Todorova/p/book/9780367598525

Advancing the Frontiers of Heterodox Economics: Essays in Honor of Frederic S. Lee, edited by Tae-Hee Jo and Zdravka TodorovaSeries in Routledge Advances in Heterodox Economics.  ISBN: 978-0-415-73031-0 (hardback, 2015, $185), ISBN: 978-0-367-59852-5 (paperback, 2020, $47.95), 358 pages, London and New York: Routledge. (20% Discount code: FLR40). [Book details at the Routledge website] [Look inside]

This collection of essays honors the life and work of one of the most prominent and fervent heterodox economists, Frederic S. Lee, who has been at the heart of the heterodox economics movements for the past three decades. Authors in this book demonstrate that heterodox economic has transcended the criticism of mainstream economics and, more importantly, that constructive developments are in the making by way of cross-communications among various heterodox economics traditions.

Frederic S. Lee’s contributions to heterodox economics are centered on three themes: the making of a history and identity of heterodox economics, heterodox microeconomics, and the heterodox analysis of social provisioning. Part I addresses the importance of history, theory, research methods, and institutions in the making of the identity of heterodox economics as an alternative to mainstream economics. Part II delves into heterodox microeconomic theories—in particular, investment, pricing, competition, markets, and market governance—as foundations of heterodox macroeconomic analyses. Part III expands the analysis of the capitalist social provisioning process with an emphasis on its subsystems and their relationships over historical time. Part IV encapsulates the life and work of Frederic S. Lee.

Throughout his intellectual life Frederic S. Lee has shown to many that the development of heterodox economics is rendered possible by unselfish and ceaseless efforts to build both theory and institutions. Essays in this book attest that establishing an alternative critical theory to the status quo is not only possible but also serviceable to the majority of the population.


Foreword by Sheila C. Dow

Foreword by John F. Henry

Introduction: Frederic S. Lee’s contributions to heterodox economics
Tae-Hee Jo and Zdravka Todorova

Part I 

Making History and Identity of Heterodox Economics by Developing Theory and Institutions

  1. Heterodox economics and the history of economic thought
    Carlo D’lppoliti and Alessandro Roncaglia
  2. The Association for Heterodox Economics: past, present, and future
    Andrew Mearman and Bruce Philp
  3. Heterodox economics, distribution and the class struggle
    Bruce Philp and Andrew Trigg
  4. Qualitative data and grounded theory in heterodox economic research: insights from three Australian studies
    Therese Jefferson

Part II

Heterodox Microeconomics and the Foundations of Heterodox Macroeconomics

  1. Heterodox microeconomics and heterodox microfoundations
    Tae-Hee Jo
  2. Beyond foundations: systemism in economic thinking
    Jakob Kapeller
  3. Post Keynesian investment and pricing theory: contributions of Alfred S. Eichner and Frederic S. Lee
    Ruslan Dzarasov
  4. Effects of competition upon profit margins from a Post Keynesian perspective
    Jordan Melmiès
  5. Inter- and intra-firm governance in heterodox microeconomics: the case of the US software industry
    Erik Dean
  6. Analyzing actually-existing markets
    Lynne Chester

Part III

Advancing the Heterodox Analysis of Social Provisioning

  1. Advancing heterodox economics in the tradition of the surplus approach
    Nuno Martins
  2. Consumption in the context of social provisioning and capitalism: beyond consumer choice and aggregates
    Zdravka Todorova
  3. Social provisioning process, market instability, and managed competition
    Tuna Baskoy
  4. The embedded state and social provisioning: insights from Norbert Elias
    Bruno Tinel
  5. Analogies we suffer by: the case of the state as a household
    Huáscar Pessali, Fabiano Dalto, and Ramón García Fernández
  6. Technological-institutional foundations of the social economy: a framework for the analysis of change in the social provisioning process
    Henning Shwardt

Part IV 

The Heterodox Economics of Frederic S. Lee

  1. Predestined to heterodoxy or how I became a heterodox economist
    Frederic S. Lee
  2. Frederic Sterling Lee (1949-2014)
    John E. King
  3. In memoriam: Frederic S. Lee, 1949-2014
    Jan A. Kregel and L. Randall Wray
  4. The Bibliography of Frederic S. Lee’s Writings

Microeconomic Theory: A Heterodox Approach

fsl-micro-2017-coverMicroeconomic Theory: A Heterodox Approach, by Frederic S. Lee, edited by Tae-Hee Jo. 2018, London and New York: Routledge.


Microeconomic Theory: A Heterodox Approach develops a heterodox economic theory that explains the economy as the social provisioning process at the micro level. Heterodox microeconomics explores the economy with a focus on its constituent parts and their reproduction and recurrence, their integration qua interdependency by non-market and market arrangements and institutions, and how the system works as a whole.

This book deals with three theoretical concerns. Due to the significance of the price mechanism to mainstream economics, a theoretical concern of the book is the business enterprise, markets, demand, and pricing. Also, since heterodox economists see private investment, consumption, and government expenditures as the principal directors and drivers of economic activity, a second theoretical concern is business decision-making processes regarding investment and production, government expenditure decisions, the financing of investment, the profit mark-up and the wage rate, and taxes. Finally, the third theoretical concern of the book is the delineation of a non-equilibrium disaggregated price-output model of the social provisioning process.

This book explores the integration of these various theories with a theoretical model of the economy and how this forms a theory that can be identified as heterodox microeconomics. It will be of interest to both postgraduates and researchers.


  • Table of Contents
  • Preface
  • Chapter 1 The making of heterodox microeconomics
  • Chapter 2 Structure, agency, and modeling the economy
  • Chapter 3 The business enterprise: structures
  • Chapter 4 The business enterprise: agency and causal mechanisms
  • Chapter 5 Markets and demand for the social product
  • Chapter 6 Competition, the market price, and market governance
  • Chapter 7 Microeconomics and the social provisioning process
  • Chapter 8 The role of microeconomics in heterodox economics: a view of a heterodox micro theorist
  • Bibliography
  • Index

Frederic S. Lee and His Fight for the Future of Heterodox Economics

Jo, Tae-Hee (2016): “Frederic S. Lee and His Fight for the Future of Heterodox Economics.” PSL Quarterly Review, Vol. 69, No. 278 (September), pp. 267-278. [Download]


Frederic S. Lee (1949-2014) was a dedicated captain of the heterodox economics movement over the past thirty years. In his unfaltering fight for the future of heterodox economics, Lee contributed to both the development of heterodox microeconomic theory and the establishment of a global community of heterodox economists. This short tribute delineates Lee’s unique and important contribution that should be remembered and renewed in order to reproduce heterodox economics.

Handbook of Research Methods and Applications in Heterodox Economics (2016)

Handbook of Research Methods and Applications in Heterodox Economics

Edited Frederic S. Lee and Bruce Cronin

To be published in April 2016 (hardback) and 2018 (paperback) by Edward Elgar. Handbooks of Research Methods and Applications series [Details on the EE website][Look inside the book, TOC, Intro, Chapter 1]


Despite the important critiques of the mainstream offered by heterodox economics, the dominant method remains econometrics. This major new Handbook provides an invaluable introduction to a range of alternative research methods better suited for analysing the social data prominent in heterodox research projects, including survey, historical, ethnographic, experimental, and mixed approaches, together with factor, cluster, complex, and social network analytics. Introductions to each method are complemented by descriptions of applications in practice.

Table of Contents

Dedication to Frederic S. Lee by Bruce Cronin

Introduction / Frederic S. Lee and Bruce Cronin

1. Critical Realism as a Social Ontology for Economics / Jamie Morgan
2. Critical Realism, Method of Grounded Theory, and Theory Construction / Frederic S. Lee
3. An Interdisciplinary Perspective on Heterodoxy / Rick Szostak

4. Separate or Symbiotic? Quantitative and Qualitative Methods in (Heterodox) Economics Research / Lynda Pickbourn and Smita Ramnarain
5. Historical Method and Data / Natalia Bracarense
6. Using Survey Methods in Heterodox Economic Research / Tiago Cardão-Pito
7. Qualitative and Ethnographic Methods in Economics / Amit Basole and Smita Ramnarain
8. Experimental Methods and Data / Andrew Mearman
9. Factor Analysis, Cluster Analysis, and Nonparametric Research Methods for Heterodox Economic Analysis / Michael J. Murray
10. Regression Analysis: A Review / Paul Downward
11. Critical Realism, Econometrics, and Heterodox Economics /Nuno Ornelas Martins
12. Social Network Analysis / Bruce Cronin
13. Agent-Based Computational Economics: Simulation Tools for Heterodox Research / Jonathan F. Cogliano and Xiao Jiang
14. Modeling as a Research Method in Heterodox Economics / Frederic S. Lee
15. Mixed Research Methods and Data Triangulation: An Answer for Economics? / Ioana Negru

16. A Mixed Methods Approach to Investment Behavior / Armagan Gezici
17. Price Stability / Gyun Cheol Gu
18. Studying Low-Income Households / Lynne Chester
19. Marketisation and Human Service Providers: An Industry Study / Bob Davidson
20. A Qualitative Case Study of the Mexican Stock Market (BMV) from the Perspective of Critical Realism and Grounded Theory / Jesús Muñoz
21. Looking into the Black Box: Policy as a Contested Process / Jamee K. Moudud
22. Modeling the Economy as a Whole: Stock-Flow Models / Gennaro Zezza
23. A Mixed Methods Approach to Investigating the Employment Decisions of Aged Care Workers in Australia / Therese Jefferson, Siobhan Austen, Rhonda Sharp, Rachel Ong, Valerie Adams and Gill Lewin
24. Combining Qualitative and Quantitative Methods in Field Work: An Application to Research on Gender, Migration and Remittances in Ghana / Lynda Pickbourn
25. A Data Triangulation Approach to Understanding the Behavior of Small Landholders in Bulgaria / Mieke Meurs
26. Measuring the Intra-Household Distribution of Wealth in Ecuador: Qualitative Insights and Quantitative Outcomes / Carmen Diana Deere and Zachary Catanzarite
27. The Use of Quasi-Experimental Design in Urban and Regional Research and Political Economy / Thomas E. Lambert and Michael Bewley
28. Detecting Business Cycles / Susan K. Schroeder
29. A Régulationist Analysis of an Industry Sector using Mixed Research Methods / Lynne Chester


Dedication to Frederic S. Lee


Frederic S. Lee Archive

Frederic Sterling Lee (1949-2014) Papers, 1972-2014




The papers of Frederic Sterling Lee, former Professor of Economics at the University of Missouri-Kansas City, contain his personal and professional research files, correspondence, writings and edited works. Dr. Lee was internationally known for his work on alternative microeconomic theory.



The papers were donated to the State Historical Society of Missouri by Frederic S. Lee on April 25, 2014 (Accession No. KA2205). Additional materials were received on September 11, 2014 (Accession No. KA2233) and January 27, 2015 by Ruth Lee (Accession No. KA2266).



Frederic S. Lee received his PhD in economics from Rutgers University in 1983. His teaching career includes being a lecturer at the University of California-Riverside, 1981-1984; Assistant/Associate professor at Roosevelt University (Chicago), 1984-1991; Reader in Economics at De Montfort University (UK), 1991-2000; and Professor of Economics at the University of Missouri-Kansas City, 2000 to present. Lee established the Association for Heterodox Economics (UK) in 1999 which continues today. He organized Post Keynesian Economics Study (UK) seminars in 1998- 2000. From 2003 until 2009, Lee was editor of the book series Advances in Heterodox Economics with University of Michigan Press and later with Routledge. In 2004, he established the Heterodox Economics Newsletter and remained the editor until 2009. Lee also was the editor of the American Journal of Economics and Sociology from 2009- 2013. From 2006-2010 Lee was the Executive Director of the International Confederation of Associations for Pluralism in Economics; President of the Association for Institutional Thought (2011-2012); and President-elect of the Association for Evolutionary Economics (2014). Frederic S. Lee was born on November 24, 1949 in Nyack, New York. He died October 23, 2014 in Webster Groves, Missouri.



The papers have been arranged by the donor into the following series and subseries:

Biographical/Personal Material; Notes Taken, and Papers

Research Areas and Publications

  • Post Keynesian Price Theory, 1981-2000
  • History of Heterodox Economics, 1998-2009
  • RAE and Ranking Journals and Departments and Pluralism, 1993-2013
  • Critics of Mainstream Economics, circa 2010-2013
  • Journal Project
  • Heterodox Microeconomic Theory, 2000-2015

Institutional Economics

  • Association for Institutional Thought
  • Association for Evolutionary Economics
  • Institutional Economists

Heterodox Economic Associations

  • Association for Heterodox Economics
  • Association for Social Economics
  • European Association for Evolutionary Political Economy
  • Post Keynesian Economics Study Group
  • Other Heterodox Associations

Book Series, Journals, and Newsletters

  • Heterodox Economics Newsletter
  • American Journal of Economics and Sociology Advances in Heterodox Economics (University of Michigan Press)
  • Routledge Advances in Heterodox Economics

International Confederation of Associations for Pluralism in Economics

Seminars and Conferences

Economists: Letters and Material

Research Areas

Lectures and Notes

Other Societies and organizations



Specific item; Box number; folder number; Frederic Sterling Lee (1949- 2014) Papers (K1317); The State Historical Society of Missouri Research Center-Kansas City [after first mention may be abbreviated to SHSMO-KC].



The State Historical Society of Missouri Research Center-Kansas City 302 Newcomb Hall, University of Missouri-Kansas City 5123 Holmes Street, Kansas City, MO 64110-2499 (816) 235-1543 shsofmo-kc@umsystem.edu


AFIT 2015: Two Sessions in Memory of Frederic S. Lee

Association for Institutional Thought Annual Conference in conjunction with Western Social Science Association | April 8 -11, 2015 | Portland, Oregon | website 


Panel 1: Systems of Time, Money, and Provisioning: Session in Memory of Frederic S. Lee

Thursday (AFIT/ASE Joint Session), 8:00-9:30

Moderator: Ted P. Schmidt, SUNY Buffalo State

  • “Social Provisioning Process and the Development of Heterodox Economics”
    Tae-Hee Jo (SUNY Buffalo State) and Zdravka Todorova (Wright State University)
  • Local Food Systems and Economic Development”
    Brian Werner (University of Missouri – Kansas City)
  • “Time Systems and Their Adoption”
    Neal Wilson (University of Missouri Kansas City)
  • “A Financial Analysis of Monetary Systems”
    Eric Tymoigne (Lewis and Clark College)


Panel 19: Social Provisioning for a Just Society: Session in Memory of Frederic S. Lee

Saturday, 9:45 – 11:15

Organizer: Mitch Green (Franklin & Marshall College)

Moderator: William Dugger (University of Tulsa)

  • “Notes towards a Heterodox Theory of Pay”
    Ryan A. Dodd (Gettysburg College)
  • “Good for the Economy, Bad for People”
    BJ Unti (Bellevue College)
  • “Rational Irrationality: an Institutional Analysis of the Unsustainable Nature of Capitalism”
    Will Fisher (Humboldt State University)
  • “The Emergence of Qualitative Change in the Social Provisioning Process”
    Mitch Green (Franklin & Marshall College)

EEA 2015: Three Sessions in Memory of Frederic S. Lee

2015 Eastern Economic Association Annual Meeting, New York City, February 26-March 1 | EEA website

Three Sessions jointly sponsored by Association for Social Economics, Union for Radical Political Economy, and Association for Evolutionary Economics

Radical and Heterodox Economics I: First of Three Sessions in Memory of Frederic S. Lee

Chair: Robert Scott, Monmouth University

  1. Telling Better Stories – The Role of Behavior in Lee’s Heterodox Microeconomics
    John Moreau, University of Missouri Kansas City
  2. Smart Person and Human Development: The Missing Ingredient in Behavioral Economics
    John F. Tomer, Manhattan College
  3. Behavioral Indifference Curves
    John Komlos, University of Munich

Discussant: Tae-Hee Jo, and among participants

Radical and Heterodox Economics II: Second of Three Sessions in Memory of Frederic S. Lee

Chair: Tae-Hee Jo, SUNY Buffalo State

  1. Paradigm Switch in Economics
    John Komlos, University of Munich
  2. Women, Race, Workers, and Ecology in Oklahoma: A Radical History and Analysis of Political Economy
    Stephanie Cole, University of Missouri-Kansas City
  3. Some thoughts on the use of economics in the Scottish independence referendum debate
    Andrew Cumbers, Adam Smith Business School, University of Glasgow
    Robert McMaster, Adam Smith Business School, University of Glasgow
  4. Historical Method and Data in Heterodox Economics
    Natalia Bracarense, North Central College
    A. Reeves Johnson, Roosevelt University

Discussant: among participants

Radical and Heterodox Economics III: Third of Three Sessions in Memory of Frederic S. Lee

Chair: John Komlos, University of Munich

  1. Classical Economics, Production, and Time
    Michael J. Murray, Bemidji State University
  2. Notes on Linear Production Models
    Scott Carter, University of Tulsa
  3. Social Provisioning Process and the Development of Heterodox Economics
    Tae-Hee Jo, SUNY Buffalo State
    Zdravka Todorova, Wright State University
  4. Modelling Environmental Resources in a Heterodox Production Framework
    Christian Spanberger, University of Missouri Kansas City

Discussion among participants

Obituary: Frederic S. Lee (1949-2014)

Frederic Sterling Lee passed away on October 23, 2014, just one month before his 65th birthday, after a brave battle against cancer. He was diagnosed with stage four lung cancer at the end of February. He, however, never stopped working for his students and for the community of heterodox economists until the end of his life, as he always did over the past 30 years of his academic career. The entire community of heterodox economists across the world is saddened by the passing of Fred Lee.

Fred Lee was born in 1949 in Nyack, NY and grew up in Virginia. His father, Sterling Lee, was a labor lawyer and his mother, Marion Burks Lee, was a politically active person. With this family background he was aware of progressive politics and civil and workers rights even in his early days. He went to Frostburg State College (Maryland, 1968-1972) and obtained a BA degree in history. While doing his undergraduate study, he was interested in philosophy and later in economics because he found that social questions in the 19th century were mainly examined by economists. After two years of working in Saudi Arabia (a supply clerk position with the Corp of Engineers in Riyadh), he returned to the United States and continued his study at Columbia University in New York City. In 1977 Fred Lee met Alfred S. Eichner who later became his “mentor, dissertation advisor, and a friend.” He once noted that the “discovery of Eichner” was “the most important in my academic career.” With Eichner’s encouragement and support, Fred Lee started his PhD study in economics at Rutgers University in 1978, where he was taught by Alfred Eichner, Paul Davidson, Jan Kregel, Nina Shapiro, and Alessandro Roncaglia, among others. After graduating from Rutgers University in 1983, he taught at University of California—Riverside (1981-1984), Roosevelt University (Chicago, 1984-1990), Staffordshire Polytechnic (Stoke-on-Trent, UK, 1990-1991), De Montfort University (Leicester, UK, 1991-2000), and the University of Missouri—Kansas City (2000-2014). [For his early life before 2000, see his short autobiography, “Predestine to Heterodoxy or How I Became a Heterodox Economist” at http://heterodoxnews.com/leefs/cv/predestine]

His contribution to heterodox economics and his influence on younger heterodox economists are enormous and invaluable. First of all, he will be remembered as the heterodox economist who endeavored to develop heterodox microeconomics that would completely replace neoclassical microeconomics. Through his magnum opus, Post Keynesian Price Theory (1998) he shows that the neoclassical price mechanism does not exist in the real world, and that there are alternative-heterodox theory of price and pricing which can be drawn from the work of Gardiner C. Means, Michal Kalecki, and P.W.S Andrews and Oxford Economists’ Research Group. This means that the entire neoclassical microeconomic framework is incoherent and irrelevant and, hence, a new theoretical framework that explains how the capitalist economic system (or the social provisioning process) works needs to be developed. He was working on this grand project toward the end of his life.

He will also be remembered as a tireless organizer and institution builder who established the Association for Heterodox Economics (1999) and the Heterodox Economics Newsletter (2004). He also served a number of heterodox economics organizations and journals, including the editorship of the American Journal of Economics and Sociology (2009-2013). He believed that institution building is as important as theory building insofar as we are concerned with the continuation and reproduction of heterodox economics. Fred Lee’s commitment to heterodox economics is also demonstrated by his book, A History of Heterodox Economics: Challenging the Mainstream in the Twentieth Century (Routledge, 2009). This is the only book ever published that deals with the institutional history of heterodox economics from 1900 to 2006 in the US and UK. More importantly, the objective of the book is to show that not only heterodox economics did/does exist, but also it can continue only if heterodox economists develop alternative theories and build institutions in the face of the dominance of mainstream economics. In fact, it took over ten years for him to complete this book. Once I asked him why he spent so much time to write this history book and then he said: “Because someone had to do it.” I now understand that it is not just someone, but someone who has a clear vision, unflagging energy, and willingness to sacrifice oneself for a better future of heterodox economics.

Lastly, he will be remembered as an inspirational teacher and wonderful mentor who taught students how to do heterodox economics in a pluralistic, realistic, and integrative manner, and who cared about his students from the bottom of his heart. Although he did not have many students who wrote a PhD dissertation under his supervision, there are lots of young heterodox economists who are largely influenced by his work. This is evidenced by all the messages collected after his passing (see here) as well as a forthcoming festschrift, Advancing the Frontiers of Heterodox Economics: Essays in Honor of Frederic S. Lee (Routledge, 2015).

Right after he was told that he got terminal lung cancer, the first thing he told me was: “We need to establish a fund that helps heterodox doctoral students in heterodox doctoral programs.” As many of us remember, this is Fred Lee, the person who always cared about young heterodox economists—that is, the future of heterodox economics.

In closing, I’d like to quote Fred Lee’s last email to heterodox economists (which was sent to various mailing lists on October 2, 2014; he personally told me that this was his “last project”):

The 2015 Solidarity Forever Labor History Calendar is now available. It features Joe Hill. If you do not know who Joe Hill is, I suggest that you do a little bit of work and find out or better yet hum to yourself, “Would you have freedom from wage slavery, …” And if you think you know something about the 1% versus the 99% and do not know who Joe Hill is then I suggest checking out the song “Preacher and the Slave” on the internet or some other strange contraption that did not exist in 1911. In the inside back page you will find a picture of myself with Joe Hill’s ashes—this is about as close as you will get to any real hero of the working class whose life was indeed put on the line—he was executed by the capitalists in 1915.


You either walk the walk or you do not; and my career (along with my colleagues from around the world) has indeed walked the walk to ensure that heterodox programs exist and heterodox economists have jobs. And this has meant significant hardships for students and colleagues (not to mention loss of employment–see “A History of Heterodox Economics”) to critically study the mainstream theory that calls into question the argument that supports the 1%. And it also means that you have to go beyond the critical and develop an alternative that draws upon the different heterodox approaches.


Through the Heterodox Economics Association Booth at the ASSA 2015, 60 Joe Hill calendars will be provided free to anyone. In return, all that is asked is that you look at the literature in the booth, in particular the scholarship material for graduate students. It is not cheap to go to graduate school; and at times it appears that those who have obtained their PhD have no interest in helping those who would like to get a PhD–in this case, they are certainly not walking the walk nor caring about the community of heterodox economists in which they operate. Do something–give a damn. For more information about the Joe Hill calendar go to http://iwwhlf.org; http://www.joehill100.com. Information about the Frederic S. Lee Heterodox Economics Scholarship Fund can be found at: http://heterodoxnews.com/leefs/fsl-scholarship.

Fred Lee is survived by his wife, Ruth, their daughter, Sally, and two granddaughters. A memorial service for Fred Lee will be held Saturday, November 8th, 1:00pm at the Ethical Society of St. Louis, 9001 Clayton Road, St. Louis, Missouri. His ashes will be scattered at a later date at the Haymarket Martyrs Monument in Chicago, IL. Condolences may be sent via Fred Lee’s website at http://heterodoxnews.com/leefs and memorial contributions can be made to the Frederic S. Lee Heterodox Economics Scholarship Fund which is housed at the Kansas City Community Foundation. Donations can be made at https://gkccfonlinedonations.org/give/leeh00.asp.

Tae-Hee Jo
SUNY Buffalo State

October 30, 2014




Tributes in memory of Frederic S. Lee

Below are messages sent to AFEE, AFIT, ASE, AHE, PKSG, URPE, HES, IAFFE mailing lists, personal responses to John Henry and Tae-Hee Jo, and blog posts. (Last updated November 22, 8:00 pm). 


Today we remember the life of a great teacher, scholar, and rabble-rouser – Professor Frederic S. Lee (1949-2014). His life and accomplishments inspire us to strive to live up to the example he set for us.

Each time he stepped into the classroom, Prof. Lee brought a fiery passion to his teaching. In an era of hyper-specialization, he drew on his immense knowledge of heterodox economics to connect with students, no matter what their interest. We knew that Prof. Lee’s door was always open to students. He would happily spend hours helping us develop our research and ourselves. Even when we weren’t always confident in our own theories, Prof. Lee believed in us.

Prof. Lee’s steadfast commitment to intellectual pluralism stood as an inspiration for all who met him. As a scholar, he engaged with a wide range of alternative approaches to economics. He went even further with his commitment to interdisciplinary scholarship. Prof. Lee encouraged students and colleagues alike to learn the traditions and methods of other disciplines in order to create better explanations for how the world really works. Through his own interdisciplinary work, he played a critical role in the establishment of heterodox economics qua theory.

As an organizer, Prof. Lee put his theories into practice by advocating for social justice. Economists around the world remember him for his legacy of building an inclusive community of researchers and activists. He never wanted us to separate ourselves from the real world, becoming cloistered in the ivory towers of academia. To the very end, his dedication to social justice burned like a torch in the night, guiding our path forward. At the 2014 Interdisciplinary Conference, he called on us to fight for justice and solidarity. Although our hearts ache with loss, we will celebrate his life by answering that call.

May he rest in peace.

The Economics Graduate Students of the University of Missouri at Kansas City



Blog Posts 


Recently, we were made aware that Frederic S. Lee, a strong voice of economic heterodoxy passed away on October 23. His death came much too early given Fred’s tremendous efforts and enthusiasm in promoting heterodox economics and economic pluralism. He will be deeply missed by the community of heterodox economists. Fred was a supporter of IAFFE’s efforts is so many ways and a tireless supporter of pluralism in economics. He will be deeply missed. — International Association for Feminist Economics (IAFFE)

Following the recent untimely death from cancer of Professor Fredric S. Lee, the Association for Heterodox Economics would like to recognize his unique contribution to heterodox economics. Not only was Fred instrumental in the establishment of the AHE, he also remained a tireless participant in its otherwise mundane administration and a passionate participant in its academic activity.  He was one of those rare individuals whose enthusiasm was inspirational. His generosity of spirit caused him to see the best in others. His intellectual legacy extends across many areas of economics, whilst his institutional legacy extends to all those graduates who had the privilege to experience his teaching and all those postgraduates for whom he was a mentor.  Fred’s obituary, written by his colleague Tae-Hee Jo, can be accessed via the Heterodox Economics Newsletter number 171. The Newsletter is another now well-established pillar of the heterodox academic community for which Fred was the prime mover. The vibrancy of that community also forms part of his legacy. The Newsletter contains links to a series of other sites with commentaries and condolences via:


We would also like to encourage you to make a donation to the Frederic S. Lee Heterodox Economics Scholarship Fund:


Fred will be sadly missed.

— The Management Committee on behalf of the Association for Heterodox Economics

It is with great sadness that we inform the EAEPE community that Fred Lee passed away the night between 23 and 24 October 2014. His contribution to EAEPE and to other pluralist and heterodox associations was huge, and his death is a terrible loss for the entire scientific community. —  European Association for Evolutionary Political Economy (EAEPE)

It is with great sadness that the French Association of Political Economy has learnt that Fred Lee passed away on October 23rd. Fred was an active organizer of the heterodox community, providing others with invaluable resources while developing original research. He has played an essential role to promote heterodox economics understood as a set of theories clearly distinct from the mainstream. He showed that heterodoxy is not only a pure intellectual matter but also a community of economists with its own institutions based on integrative pluralism. He was not only a pioneer, he was a prominent voice. Here in France we are always eager to receive the Heterodox Economics Newsletter that he initiated (then managed by Tae-Hee Jo and Ted P. Schmidt, and now by Jakob Kapeller) and we are grateful to him for the links he created between heterodox economists all over the world. His generosity and kindness will be greatly missed. — Association Française d’Economie Politique (written by Gilles Raveaud and Bruno Tinel)

This is sad and unexpected news. Quite a few members of the Leicester Secular Society spent time with Fred when he visited in the summer and he attended our evening lecture which was on social housing – by another long-time De Montfort University personality, Tim Brown.  Apart from being a member of the Leicester Secular Society, Fred had at one time been its President and I believe held it together in quite difficult times.  Now, fortunately, we are going through a period of some flourishing and we are sure Fred would have taken heart from that on his visit.​ — Leicester Secular Society​

Our heart goes out to the students, associates, and family at the passing of Fred Lee, who served as President of AFIT during 2011-2012. Fred was always a tireless defender of the underprivileged and marginalized, and a tireless advocate of heterodox economics. I had the opportunity to spend time with Fred at the AFEE meetings in Philadelphia last January. No one was more passionate about promoting heterodox economics. Fred will be sorely missed. — John Watkins (President, AFIT)

I want to echo Dave Z’s remarks. We were both fortunate to work with Fred over the past year on a number of important AFEE projects, and as Dave commented, Fred was indefatigable and always prepared for our many conversations. He has put together an excellent program for our upcoming meetings in Boston, and we will be certain to make a point of remembering his work on behalf of AFEE and heterodox economics. And his legacy going forward will be a strong one, in the work he produced, in the students he mentored, and in the many projects to promote heterodox economics. To his students and colleagues, my deep sympathy. – Jan Knoedler (Bucknell University and the President of AFEE)


I am truly sorry to hear of Fred’s passing away, he has been integral to the efforts at opening up economics, and a staunch supporter of pluralism in the field.  I remember how, at times when many of our male heterodox colleagues imagined feminist economics as simply the ‘application’ of their approach to ‘the woman question,’ Fred was among the earliest from the broader field of heterodox economics to provide it with the respect it deserved as a distinctive and independent intellectual formation, listing it as one of the heterodox economics traditions on Het-econ.  His effort to break down barriers was never done by ‘absorbing’ others into some ‘bigger’ extant approach as a form of economics-imperialism, but respectfully, conversationally, and with due regard for genuine exchange across intellectual traditions.  I also remember his presence at conferences, and his tireless efforts at institutional building and opening up spaces for conversations across varied dissident traditions.  A real loss for all economists, whatever their own approach, who value open intellectual exchange and analytic pluralism in the field. — S. Charusheela (U of Washintong-Bothell)

I had the privilege of knowing Fred since 1980 when we were both just starting out. He had just had a year at Edinburgh University and Gavin Reid, then a young lecturer there and a fellow PWS Andrews enthusiast, sent Fried a copy of one of my first discussion papers, which was about the neglect of Andrews and other real-world focused economists. Fred passed it on to Alfred Eichnet and it led to the edited collection Why Economics is Not Yet a Science. Much more importantly, Fred and I began corresponding about PK price theory and his PhD work, and we eventually ended up edited Andrews’s collected papers as a result of a dozen years of writing to each other (The Economics of Competitive Enterprise, Elgar 1993). It was only after this was finished that I met Fred face to face for the first time, at the Leeds Keynes conference. That period of close interaction with Fred had a big impact on my views about scholarship, one that I try to convey to my students, especially the PhD students: Fred was exemplary in his pursuit of a ‘leave no stone unturned’ approach to thorough scholarship that is all too rare these days. It was simply amazing to see the lengths he would go to try to fill in missing bits of the Andrews/OERG story. With this kind of scholarship, it is not surprising his major books did not come out as quickly as one might otherwise have expected. We should all think of this aspect of Fred’s way of operating whenever we’re tempted to do a rushed job and not follow up leads that might turn out to be unexpectedly important. And of course, we should always remember Fred’s selfless devotion to the cause of doing economics in a socially-concerned way that is grounded in reality, as conveyed in your obituary, and we should try to do likewise, even if that also is not the easy way. With best wishes to you and to Fred;s family, and with fond memories of Fred, — Peter E. Earl (University of Queensland, Australia)

He really did work hard to keep heterodox economic vibrant and collaborative.  And he was a really nice guy.  I had been meaning to donate the scholarship and your thoughtful note helped me to pull out my wallet and just do it!  Walking the walk… — Randy Albelda (UMass Boston)

Thank you for the moving obituary of Fred Lee, a man I knew through our common union, the Industrial Workers of the World. The man is an inspiration and I am saddened by his passing. In solidarity, — Peter Moore (Canada)

Many of us in Canada knew Fred. I had only met him twice, but my impression of him was quite favourable. … his scholarship was exceptional, he was a community-builder and a greater supporter of his (and other) students. — Jordan Brennan (Unifor, Canada)

We have lost a great colleague, a  better person and one of the key bases of heterodox economics worldwide. Extremely sad news and very bad times for heterodoxy. — Jorge Garcia Arias (University of Leon, Spain)

It is so sad but I am glad I saw him in July at the AHE conference and heard his talk. — Marlene Kim (UMass Boston)

I met Fred Lee just one time in 2006, but I wrote him several emails for having some suggestions in the Italian debate on research output evaluation in economics. He was always very kind. — Stefano Lucarelli (Università degli studi di Bergamo, Italy)

Fred will be missed, and will remain with us. — Michele Naples (The College of New Jersey)

I am shocked and very saddened. May he rest in peace. I have met Fred a number of times in the UK and elsewhere during various gatherings organized by the PKSG and AHE. We had also wonderful “heterodox” cooperation and interaction via email. With my deepest sympathy, — Nikolaos Karagiannis (Winston-Salem State University)

I remember Fred (who did not know me at the time) filling me on the Roosevelt Economics Dept. on the steps of a Hotel in New Orleans at an ASSA meeting many years ago, a job I eventually got (thought not that year). He could very critical – did not mince his opinions! (I had this experience with Fred’s comments on some of my ASSA presentations), and my Friends in Oak Park (cc’d above) told me stories when I moved here 20 years ago after Fred had left for England and than Missouri, about his outspoken atheism not always sitting well with fellow Oak Parkers (not them or I – all atheists ourselves) , but a great human being and a tireless organizer for the cause of radical/heterodox economics! It was this unwillingness to “bend” his opinions to convention – a true critical thinker – that led him to the enormous contributions that marked his life. — Ron Baiman (Benedictine University)

My condolences on the passing of our good and distinguished friend. — James K. Galbraith (University of Texas Austin)

It’s very sad to hear that. It would have been nice if we could have told him how much his research has helped us. — Post-Crash Economics Society, University of Manchester, UK

I’m directing this to you as Chair of the fantastic UMKC Econ Department, but why I’m writing I don’t really know. I never met Fred Lee or even corresponded with him, but his work on post-Keynesian price theory, and in particular his expertise on Gardiner Means, has been indispensable for my own work. I’m a graduate student in history at UC-Santa Barbara, studying with the labor historian Nelson Lichtenstein, and am currently at work on a dissertation on inflation in the postwar US, in particular how it served to regulate labor relations and delimited the prospects for social democracy in this country. My current focus is on the durability of an anti-monopoly tradition in Congress after the war, and in particular on John Blair and the Subcommittee on Antitrust and Monopoly. I recently learned Dr. Lee had been working on similar issues, and just last week had begun to compose a message to him on the subject. I was stunned to see this terribly saddening news. I just thought I’d write to provide one datum on Dr. Lee’s far ranging influence. I am in history (though I’d probably be in economics were it not for the dismal state of the field, UMKC excepting), which I think provides evidence enough that his work crossed disciplinary boundaries. From everything I read, it seems like he was a wonderful person, in addition to a great mind. We need more economists like him. — Samir Sonti (UC Santa Barbara)

So sorry to hear about Fred’s passing. He was one of the few really good guys in the profession. And I always admired his “don’t let the idiots win” attitude. — Steve Pressman (Monmouth University)

My deep sympathy to all who knew Prof Lee. I regret that I only knew him via this listserve, yet even so, I got a great sense of his impact and contributions.   I wonder if someone could re-send information about how to contribute to the scholarship fund Prof Lee had set up with AFEE. — Carol Scotton (Knox College)

Fred was a colleague of mine at U.C. Riverside for a few years, when we were constantly under attack from a phalanx of hostile and often vicious deans and Monsanto grantees and others for our “Marxism”. That was a wide umbrella that covered almost anyone left of Dick Cheney, plus some deeper Marxists and probably some CIA agents and agents provocateurs. That is probably why Fred hit the road before long. Anyway, Fred had an obsessive work ethic. He came to meetings of the Department but rarely looked up from his sheaf of papers, rarely spoke. I hardly got to know him personally. I never knew of his IWW connection. If I had I would have marked it in his favor, but how could he have known that? Surrounded by spies, in whom could he confide? I thought his obsession with being “heterodox” was not an optimal stance. I’ve generally found it more positive to say “Orthodoxy is my doxy; heterodoxy is the other fellow’s doxy”. And yet in our brief intersections I came to admire his independence and courage and self-sacrifice and conscientiousness. So year’s later, when Larry Moss died and we needed a new Editor for the American Journal of Economics and Sociology, I nominated Fred – and he got the job, much to the disgust of some Austrians who had wanted it. Larry, who had an Austrian tendency in his form of heterodoxy, had left an inventory of accepted mss, which Fred duly edited and published – it must have been hard on him, but he had no fear of hard work. After about 4 years his original contract ran out, and the Board had turned over a bit (as Boards do), and the new Board let him go. He conscientiously completed his duties to the end, and, like Jesus on the cross, “He never said a mumbling word”. I never knew he had health problems, let alone fatal ones. So God bless you, Fred, in the place where you have gone, whether you believed in one or not. We will remember you down here for your courage and good works. — Mason Gaffney (UC Riverside)

I am deeply saddened by this great loss. Fred understood heterodox economics in its broadest sense and his scholarship reflected this judgment. More than anyone else, he established heterodox economics as a subject of historical inquiry. Heterodox economics was for Fred primarily a community, which he nurtured and shaped, through newsletters, networks, conferences and organisations. Fred and I co-wrote a paper on oral history and the history of heterodox economics. The collaboration emerged after years of his unfailing encouragement and generosity, sharing archives, ideas, and patient corrections as I wrote a doctoral thesis on the history of post Keynesian and radical economics. Fred’s research was unfailingly serious, sourced, and thorough, and I learned so much from him. — Tiago Mata

I am very sad to hear of Fred’s passing. I didn’t expect it quite this soon. We have lost a great colleague. — Fred Moseley (Mount Holyoke College)

A great loss for Heterodox Economics! My deep sympathy for his family. — Jairo Parada (Universidad del Norte, Colombia)

I feel very sad to read that Fred is no longer. I met him over 40 years ago and then from time to time at the Post Keynesian Economics Study Group seminars in London. I corresponded with him on several occasions. The last time when he asked me to pass on to him what information I had about the Conference of Socialist Economists in Cambridge some 40+ years ago. He has been instrumental in fostering alternative approaches to economics. We owe him a lot and he will be remembered. — Grazia Ietto Gillies

Despite the short time I spent at UMKC, I remember him well. I’ll always remember him for his kindness to us and for his commitment to fighting the cause of the oppressed. Will definitely remember the Harry Potter movie we watched together and the wonderful Thanksgiving dinner he and his wife made us in 2005. May his legacy live on in his work and the many lives he touched. – Tung-Yi Kho (SOAS)

Fred Lee was more than a “card-carrying member” of the Wobblies. A member of the IWW since 1985, Fred was elected soon afterwards Chair of the General Executive Board at the same time that he was Professor of Economics at Roosevelt University in Chicago. Here are two 1988 interviews Chairman Lee did with the Chicago Reader and L.A. Times, explaining the strange migration and history of Joe Hill’s ashes. (Some of the ashes were mailed to Fred, he told me and other colleagues, at his Roosevelt University address.)  — Steve Ziliak (Roosevelt University)

  • http://www.chicagoreader.com/chicago/what-ever-happened-to-joe-hill/Content?oid=873072
  • http://articles.latimes.com/1988-11-20/news/mn-590_1_joe-hill-s-ashes
  • http://www.roosevelt.edu/CAS/Programs/ECON/History.aspx

I had planned on writing some brief comments about Fred, but you captured most of what I was going to say. However, I do want to add one other area where I believe Fred made a very nice contribution, which justifies in my mind why he deserved the president slot for AFEE. From a number of talks that Fred gave over the years, I recognized that for him the central raison d’etre of an economy is the provisioning of goods and services for people, and for him that’s the purpose of an economy. By focusing on provisioning it avoids the neoclassical error of confusing all pecuniary activities with human well-being. Though there was more class struggle and Sraffa analysis in Fred’s view then this, I believe he recognized the importance of the institutionalist view of the interaction of technology (knowledge and innovation) and social institutions — the process to provision, which is often impeded by the inherently conservative nature of social and economic institutions, some of which are much more powerful than others. While improving provisioning may be universal, things and institutions change over time and place. This means that Institutional economics relies on observation and measurement of the real world as it changes, instead of being caught up in an ideological bubble. This follows the definition of provisioning by Gruchy, “the study of the part of the evolving social system that is concerned with the provision of scarce material goods and services” (1972, 337). And Veblen’s definition of the economy as “… a process for the provision of the aggregate material means of life” ([1919b] 1990, 285). Veblen’s contrast between the pecuniary and the industrial is central here. Only if production goes through the market process does it have a pecuniary value, and only then does it count. Or to express it in a way Fred would approve, I believe: since prices measure value in exchange they cannot always be relied on to establish value in use, which more closely parallels provisioning. This leads markets to be an imperfect measure of provisioning and must be supplemented by non-market goods through the public or nonprofit sector. Yes, as Barkley mentioned, we had our differences with Fred, but I always found him a passionate man who cared very deeply that economics be there to serve people and not the other way around. I will miss him. — Ric Holt

I am so sorry to hear this. I will always remember Fred for his ‘stubborn heterodoxy’, always bringing in a perspective in discussions that is solid, historically grounded, and to the point. And I will always remember that we shared the Gunnar Myrdal Prize in 2001, 2000 euro each, from which he bought his daughter a violin and I bought myself a double
bass. — Irene van Staveren (International Institute of Social Studies of Erasmus University Rotterdam)

Really sorry to hear about Fred, though I knew he didn’t have long. — Ronnie Phillips

I have met with Fred Lee in Utah in 2007 at the ICAPE conference, and still remember his compassion for the advancement of heterodox economics. He will not be forgotten for his efforts to promote heterodox economics. May he rest in peace. — Hüseyin Özel

I am so deeply moved by the sad news: how could this be? I didn’t know he was ill. I really can’t say we were very close, but I know he knew who I am, always, no matter where or how much time had passed since the last time we met. At a meeting, a conference, he always had a kind smile and generous words towards our latest research topic. May he rest in peace. — Jose A. Cordero (Universidad de Costa Rica)

I am sad to hear about Fred. However, his life and work will continue to be a great inspiration for the young heterodox scholars and generations to come. To my work in the history of heterodox economics, he will always be a huge influence. — Marco Cavalieri (Brazil)

I join a long line of folks that regret Fred’s passing. I am one of his doctoral students, but unlike some I’ve not had the privilege of finishing with him. He taught me so much and changed the way I think of the economy and society in general. I’ll never be the same. Fred taught me that economics is about social provisioning, and that social provisioning is about people. I’ll never forget that and I’ll never forget him. He’ll always be in my economics. The last thing he told me was that, “You should never hold back, even if it makes them uncomfortable.” I won’t disappoint him. Rest in peace Fred. — Mitch Green (UMKC student)

I share the grief of those who have already posted about Fred’s death. I wish to note that despite his illness, Fred worked tirelessly in helping to ensure that AFEE, and especially the JEI, continue to be strong. In Fact, Jan Knoedler, Eric Hake, and I received an e-mail from Fred just a week ago in which he asked us to keep him engaged in the work we have been doing with various publishers on the future of the JEI. Irrepressible and irreplaceable in the world of heterodox economics, Fred’s legacy will always endure. — David Zalewski (Providence College)

Some untimely deaths are indeed. I have known Frederic Lee since the URPE-ASSA meetings of1984 (Dallas), where we were both presenting a paper in the same session. We, again, where in the same session at the URPE-ASSA in 2013 (San Diego); I saw him for the very last time in the 2014 URPE-ASSA in Philadelphia and I did not know. Please convey my condolences to his family, friends, and students. — Cyrus Bina (University of Minnesota Morris)

I was very impressed with Fred, in the short time I had to interact with him, and very moved by the conference [AHE 2014 Conference at Greenwich] you [Jo] and his other students put on for him. His legacy and spirit will live on for a very long time, I’m sure. — Ashton Phillips (George Washington University)

Very sorry to hear this……..very sorry. Sad news. I thought Fred was a good guy and outstanding scholar. He definitely will be missed. — Thomas Lambert (Northern Kentucky University)

I am very sorry to hear the loss of Professor Lee. My deepest sympathies go out to you [Jo] and his family. May God give you and his family the comfort and peace that you seek and may the soul of Professor Lee rest in peace. My condolences. Tuna Baskoy (Ryerson University, Canada)

That’s sad, what a big loss. — Mary King (Portland State University)

Fred was a tremendous force for good economics. I’m sorry he suffered at the end. He will be greatly missed. — Robin Hahnel (American University and Portland State University)

It is so sad to lose Fred, a tireless champion of the left and heterodox economics. I first met Fred at a Post Keynesian conference in the early 80s when we were both graduate students? Fred working with Al Eichner at Rutgers and me working with Ed Nell and others at the New School. We maintained our friendship over 3 decades and supported one another during times when the frustration of dealing with mainstream economics and even difficult heterodox personalities became overwhelming. He will be sorely missed. — Steve Pressman (Monmouth University)

I, like many, receive this news with sadness. We have observed Fred’s tireless commitment to the advancement of economic knowledge and education. His accomplishments have been many and noteworthy. Good bye, Fred Lee. — Daniel Underwood (Peninsula College)

Wow. I am ever so sorry to hear this. Fred was an exceptionally well read economist & colleague. He was also a tireless organizer & institution builder. Our conversations invariably pushed me to think harder and/or more clearly. We were all richer for having known him. RIP Fred. — Robert Prasch (Middlebury College)

Even greater than Fred’s commitment to the advancement of knowledge was his unwavering commitment and concern for all of us, his students. Never was there any one who demanded more but did everything within his power to help each of achieve our full potential. — Doug Meador (University of Saint Francis)

This is very sad news indeed! My thoughts are with Fred’s family and also with his colleagues and students. — David Dequech (University of Campinas, Brazil)

My goodness. I had no idea. My thoughts are with his family and in recognising his huge contribution to all our work. We all owe him a huge and overwhelming debt of gratitude for his wonderful and innovative work. — Miriam Kennet (The Green Economics Institute, UK)

Very sad! Still remember our discussions confronting Marxism and Post-Keynesianism. A great loss. — Fabien Tarrit (Université de Reims Champagne Ardenne)

I echo others’ sentiments in greatly appreciating all that Fred Lee did for heterodox economics over many years. — Richard Wolff

It is very, very sad to hear that Fred is no longer with us. It was only 3 weeks ago that I invited him to join again the Scientific Advisory Board of the 2nd World Keynes Conference which I am planning with a few Turkish colleagues to hold in 2015 that I learned about Fred suffering from lung cancer but I had no idea that it was that serious. The heterodox community lost one of its most hard working, most challenging, most innovative and most helpful members. Deeply sorrow. — Arne Heise (Hamburg University)

This is shocking news. Fred was such a tireless worker towards the development of heterodox thinking. Please pass my condolences to his family. — Tidings P. Ndhlovu (MMU Business School)

Extremely sad news. The greatest paladin of our just quest is no more. — Luís Francisco Carvalho (ISCTE – University Institute of Lisbon)

I just learned of the passing of Fred Lee. I’m deeply, deeply sorry. With all of you having been very close to him as colleague, teacher and friend, please accept my heartfelt sympathies. I am happy at least that I was able to see him last month in Kansas City (indeed that was the third time since last January that we saw each other) and I shall always retain some very good memories of having crossed path with him over the last few decades beginning with when he was still a graduate student of Al Eichner at Rutgers. I am truly very sad and, although I shall not be able to come to the funeral service, please give my sincere condolences to all his loved ones that he left behind. Yours sincerely, — Mario Seccareccia (University of Ottawa, Canada)

It is with profound sorrow that I just found that Professor Lee passed away last night. I was now working on the paper for the book [Fred Lee Festschrift] and just received an e-mail from the PKSG list informing that. It is an enormous loss for the academic world. Let us hope that his extremely important research be continued. — Nuno Martins (University of the Azores, Portugal)

Fred Lee was our distinguished guest at the 2006 HETSA conference held in Ballarat, Australia. He later stayed at my house in Carlton where he took a great interest in my cat! Jackson. The Australian HET community salute him. Kind regards. — Alex Millmow (Federation Business School and President of the History of Economic Thought Society of Australia)

A great economist and a better person. — Guillermo Cavazos

I am very sorry to hear of the death of Fred Lee, a distinguished economist. — Giancarlo de Vivo (Università di Napoli “Federico II”, Italy)

Very sad news, though (of course) not unexpected. … — John King (La Trobe University, Australia)

I was very sorry to hear about Fred. — Michael V. White (Monash University)

Thank you for informing the AFEEMAIL community about the sad news of Fred’s passing. Eric, Dave and I had received a very concerning note three weeks ago, so this news is not entirely a surprise. Sad all the same. We will make certain to honor him at the upcoming AFEE meetings.Keep us posted on any information you receive. — Jan Knoedler (Bucknell University and the President of AFEE)

It is with sadness that I write to inform you of the passing of one of our long-standing faculty members, Fred Lee. Fred was an internationally recognized scholar who was incredibly devoted to his students and his department. He was active in the life of the College and will be greatly missed. My thoughts go out to the faculty of Economics and Fred’s family. I have been told a memorial is planned in St. Louis and will provide more information as it becomes available. Sincerely, — Wayne Vaught (Dean, College of Arts and Sciences, UMKC)

I want to thank you for all that you[Free Lee] have done for me. I know that things would likely have gone very differently for me without your assistance. You are a friend, a colleague, and a fellow worker, and I am grateful for these things. Your dedication to improving the lives of working people is an inspiration. Concern for the well-being of poor and working people is uncommon among academics, but through your work and actions you have shown that you are unwilling to compromise your commitment to social justice, your personal convictions, or, ultimately, your integrity. This is an example that we should all do our best to emulate. Your impact on students, colleagues and our discipline will be measured for decades to come. I hope you and your family find some comfort in the difficult days ahead. But I want you to know that my commitment to the ideals we share is undiminished, and your example motivates me every day. I will mourn, but then I will organize. In solidarity, — Erik Olsen (UMKC, before Fred’s passing)

Fred was much liked and respected in this country, inside and outside of Stoke. I was lucky enough to see him for a few minutes last summer when he was visiting Paul Downward, across the street from whom I live. I have fond memories of all our visiting scholars, including Fred, your good self and Susan (M’Gowan?). Recently started my 15th year of retirement – much to my surprise. Still see Jean Mangan and Steve Hurd on walks, and Jamie Roper, Ian Jackson and John Wyld at beer festivals. John has recently retired, as has Jean although she has some PhDs to see through to completion. — Alistair Dawson

Thanks for letting the AFEE list know of this terrible news. I’m deeply saddened. — Robert McMaster (University of Glasgow)

This is so sad. Fred was a great scholar, mentor and friend. — Paul Downward (Loughborough University, UK)

We are all going to miss him. However, I know that you two were close and so I’m thinking of you [John Henry]. Peace. — Reynold Nesiba (Augustana College)

Thank you for spreading the word about Fred. He was an original ? there is no one with his righteous anger, his energy in defending inconvenient ideas, his enthusiasm in explaining mark-up models. Please add my condolences to what must already be a mountain of expressed feelings of loss and sadness. I will try, as everyone who knew him must, to carry on the fight for something approximating a better world and a truer economic compass to steer it by. Warmest regards, — Gary Dymski (Leeds University)

I first met Fred at Warren Samuels’ house when I was a grad student, and we spent an hour arguing about whether there was any usefulness in the idea of a demand curve. That was my first clue that there were not many things in the world which Fred and I would see eye-to-eye! We had many wonderful disagreements over the years, and I would always greet him with a shout of “How’s my favorite radical doing?!” But Fred was an incredibly generous scholar. I met him when Warren and I were working up our article and book on Gardiner Means, and Fred graciously put all of the voluminous means material that he had acquired (and most of which he had not yet himself used) at our disposal. I will miss him, but it is good to know that his suffering has come to an end. Best wishes, — Steve Medema (Universit of Denver)

I am so sorry to hear your sad news about Fred.  Fred was such a wonderful person. With deepest sympathy. Yours sincerely, — Spencer Pack (Connecticut College)

Fred was a force for heterodoxy and had a deep moral view of the world. He did good work and was a role model. It will be strange not to have his presence. I feel sorry for Ruth. It is not easy to be left behind after so many years. — John Davis (Marquette University)

Frederic S. Lee (1949-2014)

It is with great sadness that I inform the community of heterodox economists that Fred Lee passed away on October 23 after a brave battle against lung cancer. Given his deterioration over the last week, this was something of a welcome relief. The tentative date for his memorial service is November 8, but an announcement as to the details will be forthcoming.

Fred Lee will be remembered for his tireless effort to develop heterodox economic theories, to build institutions and communities, and to liberate students from the illusions created by defunct economists.

You can watch his last presentation at the Post Keynesian Conference on September 27, 2014, here:

You can watch his last lecture at the UMKC on April 24, 2014, here.

Should you have a story you want to share with others, please send an email to Tae-Hee Jo, taeheejo@gmail.com or “leave a reply.”

May he rest in peace.

Tae-Hee Jo

Intro Micro Lecture Notes: Rutgers 1979-1980

Introduction to Microeconomics

Fred Lee

Livingston College, Rutgers University

1979-80 Academic Year


I. Introduction to Microeconomics: A Brief Preview of the Industrial Structure of an Economy 

A. Problems to Be Considered
B. Economy as a Whole
C. Industry
D. Firm

II. How Prices are Set by the Individual Manufacturing Firm: The Post-Keynesian Approach to Pricing

A. Nature and Form of the Manufacturing Firm
B. The Base of Pricing: How Firms Reckon their Income
C. Technical Costs of Production
D. Managerial Costs of Production
E. Gross Profit Margin
F. Costs Relevant for Pricing and Price Setting
G. Alternative Approach to Pricing: The Supply and Demand Approach
H. Problems and Readings

III. Industry, Market Structure and Pricing: Post-Keynesian Approach to Market Pricing

A. Introduction
B. Industry — Defined and Discussed
C. Market — Defined and Discussed
D. Pricing Within a Market and Industry
E. General Input-Output Framework
F. Alternative to Market Pricing: The Supply and Demand Approach
G. Problems and Readings

IV. Prices, Distribution and the General Input-Output Framework: The Post-Keynesian Approach

A. Introduction to a Simplified Form of the General Input-Output Framework
B. From Market Prices to Cost of Production Prices
C. Cost of Production Prices and Changes in the Components of the Pricing Equation
D. Cost of Production Prices and Distribution
E. Problems

Frederic S. Lee Heterodox Economics Scholarship

The purpose of the Fund shall be to provide scholarships for tuition and fees, up to three classes per semester, for doctoral heterodox economics students.


The students eligible for assistance must be enrolled in a doctoral heterodox economics program and demonstrate financial need.

Preference will be given to students enrolled in the UMKC heterodox doctoral economics program. In addition, preference will be given (in order of preference) to:

  1. Students who have no scholarship support at all and need the support to continue in their heterodox doctoral program; and
  2. Students who have only partial scholarship support and need additional support to continue in their heterodox doctoral program.

Scholarships will be awarded prior to the fall and spring semesters on an annual basis. The Fund will not provide scholarship aid for dissertation credit hours or for credit hours that are not directly relevant for the completion of the doctoral program’s course work.

Scholarships are not renewable; however, previous recipients may reapply.

Varies. Tuition and fees for up to three classes per semester.

June 1 and November 1. [Apply Here] 

Call for Contributions

Your contribution to honor the work of Frederic Lee and to support the education of doctoral students is appreciated. Contribute to the Fund here