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Issue-11 May 11, 2005


From the Editor

For many of us, summer is almost upon us and hence the summer heterodox economics conference season is here. I hope many of you will attend the various conferences that have been announced in this Newsletter. This Newsletter also has information on graduate student scholarships, jobs, books and papers. The work that Steve Fleetwood is doing at his Lancaster Institute should also be checked out—it is this kind of work that makes the community of heterodox economists a reality. There are other unsung heroes in this regard who set up local seminars and one-day conferences hoping that heterodox economists come along to listen to the papers. Some time their efforts pay off and lots of economists attend—but at other times few show up because the seminar is not dealing with their particular brand of heterodox economics. But it is this continual effort to promote heterodox scholarship is what is important. I hope to see more such efforts in the future which I can announce in the Newsletter.

Fred Lee



In this issue:

- Call for Papers

           - The Theory and Practice of Economic Policy: Tradition and Change
           - Association for Institutional Thought [AFIT]
           - PEKEA 4th international conference in Rennes, France (4-6 Nov. 2005)
           - Conference at UMASS LOWELL - October 2005 'Sustainable Jobs, Sustainable Workplaces'
           - JSPE 53rd Annual Conference, 2005- "Neo-liberalism and the Crisis of Contemporary Society"
           - Second meeting of the European Network on the Economics of the Firm (ENEF)
           - Econophysics Colloquium, 14-18 November 2005

Conferences, Seminars and Lectures

           - 7th Annual Conference of the Association of Heterodox Economics
           - Conference on Radical Economics in the 20th Century: Radical Economics and the Labor Movement, September 15-17, 2005
           - The II STOREP National Conference of the Italian Association for the History of Political Economy

- Heterodox Conference Papers, Reports and Articles

           - Skill Formation, Outsourcing, and Craft Unionism in Air Transport: By Cyrus Bina, PhD

 - Heterodox Journals and Newspapers

           - Analyse & Kritik volume 26 (no. 2), 2004
           - Talking Economics Bulletin - May 2005

- Heterodox Books and Book Series      

            - The Macroeconomics of Development and Poverty Reduction - Strategies Beyond the Washington Consensus

- Heterodox Job Postings

             - North American Commission for Labor Cooperation

- Heterodox Graduate Schools and PhD Scholarships

             - Two Research Scholarships From Wendy Olsen

- Heterodox Associations and Institutes

            - Institute of Advanced Studies- Lancaster University


Call for Papers

The Theory and Practice of Economic Policy: Tradition and Change

The Ninth Conference of the Italian Association for the History of Economic Thought (AISPE) will be held on June 15-17, 2006 at the University of Padova, Padua, Italy.

Main Subject

The aim of the Ninth AISPE Conference is to present original research on the evolution of economic policy, from its first theoretical statements right through to the most recent proposals and practices. The organizing committee encourages papers on individual authors and schools of thought, theories and categories of economic policy, policies concerning specific sectors, countries, areas and institutions.

Main Conference Themes

- The periodical re-emergence of Mercantilist doctrines
- The relevance of Classics and Neo-classics to the present day
- Marxism and economic policy
- Keynesian economic policy 70 years after the General Theory
- The Monetarist "rule" and the art of central banking

Recent developments

- The "new classical economics" and the "supply side"
- The "new" Keynesians
- The economic policy as a "game"

- The "new political economy"
- Expectations and economic policy
- Growth and economic policy

- National, local and sectoral “experiences"
- Political regimes and economic choices
- The "third ways"
- The policies of planning and reforms
- Price control and income distribution
- Monopoly and competition
- Regional and local economic policies
- Sectoral economic policies

- The internationalization of economic policy
- Free trade areas and monetary unions
- International economic organizations
- International economic policy co-ordination

Other sessions

According to the AISPE tradition, "free" sessions including papers on different general topics related to the History of Economic Thought will be organized.

Scientific Committee

Piero Bini (University of Roma 3), Pier Francesco Asso (University of Palermo), Marco Bianchini (University of Pavia), Ferruccio Marzano (University of Roma, La Sapienza), Manuela Mosca (University of Lecce), Riccardo Realfonzo (University of Benevento), Gianfranco Tusset (University of Padova)


Abstracts (max 500 words) and proposals for sessions (max 1000 words) must be submitted by December 15, 2005 to Gianfranco Tusset by:
or mail: Department of Economics, Via del Santo, 33 - 35123 Padova (Italy)

Call for papers and information about the Conference are posted on the Conference website:

Association for Institutional Thought [AFIT]
The annual meeting of AFIT will be held April 19-23, 2006
Westin Hotel
In conjunction with the Western Social Science Association (WSSA) 48th Annual Conference

Theme for the 2006 Conference:
What’s Right with Institutional Economics; What’s Wrong with Institutional Economics?
Institutional economists have long promoted a far-ranging program, addressing theoretical, methodological, and policy issues. As with any enterprise, it is necessary from time to time to take stock of the body of knowledge that has accumulated over the decades, and to make an estimate as to what has been accomplished and what is required if further progress is to be achieved. Is there consensus on the main theoretical corpus of institutional economics? What should be the institutionalist stance on major policy issues? Is a single, unified approach to issues possible? Is this desirable? It is hoped that this conference brings out differences on these and other matters, encouraging good debate and attempts at resolution.

Some possible themes for panels and/or papers

•Exactly what is institutional theory? Is there a unified theory incorporating the work of the major figures in this approach, or do we see disjointed elements, impossible to synthesize?
•What is the place of pragmatism in the institutionalist approach? Are there methods used that run counter to pragmatism?
•What is and what should be the relation between institutionalism and Marx, Keynes, Polanyi, et al.?
•To what extent does institutional theory correspond to a monetary economy? Is “real” analysis more enlightening than monetary relations?
•What work needs to be done in order to advance the institutional program of institutional economists?

In addition to the above topics, AFIT welcomes papers reflecting the tradition and analytical perspective of institutional economics and applications of institutional analysis to current policy issues. Submissions from economists of other heterodox schools of thought are also welcome. AFIT encourages proposals from graduate students, and it is anticipated that at least one and possibly more panels of graduate student papers will be included in the program this year.

AFIT hopes to continue the tradition of having one or more roundtables on ideas, experiences, and materials helpful for incorporating institutionalism and heterodox economics into our teaching. Participants in these roundtables are encouraged to submit their materials for posting on the AFIT web site.

Anyone interested in attending the AFIT Conference or in finding out more about the organization may visit the AFIT web site at The WSSA web site can be found at

You must be a member of AFIT to present a paper at the conference. Annual dues are only $15. Contact Steven Bolduc, Secretary-Treasurer of AFIT, (

How to submit a proposal:

Individual Paper Proposals. Proposals must include the following information:

Section: AFIT
Mailing Address:
Title of Paper:
Abstract (150 words):

Complete Panel Proposals. Complete panel proposals are invited. Panel proposals should include 3-4 papers, 1-2 discussants and a panel chair. Panel organizers should send a brief letter with the following information: 1) Title of panel; 2) List of Participants; 3) E-mail addresses for all panel participants. Each participant in the panel should also submit an individual proposal with the information listed above.

Please note: Abstracts of papers presented at AFIT will be included in the WSSA published abstract disk (available at the conference). WSSA requires that abstracts not exceed 150 words. Excessively long abstracts will be truncated at the word limit.

Audiovisual or other equipment needs: Individual and panel proposals should include requests for any equipment (WSSA does not provide computer projectors). It is difficult (and expensive) to arrange for equipment at the last minute. Please plan ahead!

Send proposals by E-mail (file attachment in Microsoft Word or RTF format preferred) to the Vice President of AFIT:

John F. Henry
Dept. of Economics
University of Missouri
211 Haag Hall
5100 Rockhill Road
Kansas City, MO 64110-2499
Phone: (816) 235-1309

Deadline for proposal submission: December 1, 2005

PEKEA 4th international conference in Rennes, France (4-6 Nov. 2005)
invites you to come and debate on the theme «Democracy and Economy»

PEKEA (Political and Ethical Knowledge on Economic Activities) is a world think tank network to build a new knowledge about economic activities. It is backed by more than 700 researchers in the field of human and social science and links thousands of people around the world, through associations of the civil society and citizens involved in local governments.

We will explore in Rennes what are the necessary links between “Democracy and Economy” in order to organize, according to “our societal values”, a process to find our way towards “a common feasible future”. We supposed that it is necessary that power is kept by the people and all its visible members, and it is not left to the economy, with its invisible face: this would lead to set up an Ecocracy without any responsibility from anyone.

PEKEA is expecting you in Rennes (France) with contributions of different types: Theoretical and empirical analyses and also monographs and reports of observations and experiences, all based on a multidisciplinary spirit with an oral presentation based on a synopsis or/and a short or a longer paper.
More on the website:

Conference at UMASS LOWELL - October 2005 'Sustainable Jobs, Sustainable  Workplaces'
Call for Papers - Abstracts due June 1, 2005 Conference - October 27-28, 2005

We seek five hundred-word abstracts for papers on the broadly defined theme "Sustainable Jobs, Sustainable Workplaces." Our concept of sustainable work is evolving, but changes in the workplace and the reorganization of work are at its center, with society and environment interwoven. Thus we want to look not only at occupational and industry shifts, job security, and pay, but at work's impact on workers - workload, staffing cuts, deskilling, hours, stress, contingency, and socialization in the workplace.

We seek papers that address at least one of the following:
1. What is a sustainable job?
2. What changes are occurring in applied technologies and the organization of work, and how are these changes making jobs more or less sustainable?
3. What trends and institutions are shaping these changes?
4. What are the implications of these changes for the sustainability of communities and the environment?
5. How would community and environmental sustainability be affected if jobs and workplaces were to become more sustainable?
6. What initiatives or approaches could lead to more sustainable jobs and workplaces?<>

Note: Labor and community researchers and organizers are encouraged to submit abstracts. Writing collaborations are encouraged.

The conference is organized by the Committee on Industrial Theory and Assessment (CITA) and the Labor Extension Program at UMass Lowell. For information on these programs visit and

Complete call including Background and Conference Themes can be viewed at

JSPE 53rd Annual Conference, 2005- "Neo-liberalism and the Crisis of Contemporary Society"
15-16 October 2005 at Daito Bunka University :
1-9-1 Takashimadaira, Itabashi-ku, Tokyo, 175-8571, Japan

The 53rd annual conference of the JAPAN SOCIETY OF POLITICAL ECONOMY
(JSPE) will be held on October 15 (Saturday) and 16 (Sunday), 2005, at the Itabashi Campus of Daito-Bunka University, Tokyo. The topic for the plenary session in this conference will be Neo-liberalism and the Crisis of Contemporary Society, intended as a sequel to its 2004 counterpart, which was The Market Today ? What Economics Understands by That Term. It is hoped that the new theme will build on the critique of market fundamentalism debated with much heat last year at the JSPE 52nd annual conference at Osaka University of Economics, so that we may finally come to grips with the real nature of the neo-liberal ideology that underpins the crisis of present-day society, in both historical and theoretical light.
 In the process of overcoming stagflation which had ravaged developed countries, there arose concomitantly political leaders of neo-liberal persuasion, such as Reagan, Thatcher and Nakasone, at the beginning of the 1980s, campaigning in concert for smaller government, freedom in the market and eventually globalization. Globalization is the pious hope of multinational firms which translates itself into the market-oriented policies, promoted vigorously with the neo-liberal ideology by the IMF and the World Bank. In consequence of these policies we have witnessed widening gulf between the rich and the poor, increasing degradation of the environment and the undermining of acquired rights of the working classes, all in the name of the structural change of the economy and the protection of the right and responsibility of the individual. While the solidarity of the community and the power of trade unions are systematically encroached upon, civil movements of all sorts, represented by NPOs and NGOs, are spreading quickly throughout the world. It appears as though the old “safety nets” are being replaced by new forms of people’s intervention and surveillance. It is, however, not yet clear in which direction the aggregate of these varied trends might eventually lead.
 If neo-liberalism is an ideology in support of the “globalizing”
imperialism which has entailed the current crisis of human society, we must first relate it with the present phase of development of capitalism so as to comprehend its historical significance. Globalization has indeed had the effect of weakening the nation-state, as national borders have become relative. But, while the traditional state shows signs of decline, the regional and ideological coalitions of the states are today more easily formed for the purpose of collective defense and/or wars of aggression. None of the specific issues that face Japan at present, be it budgetary reforms, reforms of the welfare and pension system, restructuring of firms and industry or deregulation of the labor market, can be adequately understood out of the context, that is to say, in isolation from the broader trends of the world economy dictated by new imperialism which embodies the message of neo-liberalism. It is up to political economy to throw theoretical light on the hidden force working behind the scene.
Sessions :
 The JSPE invites proposals for sessions in English in the following two categories. (The main language of the conference is Japanese. There will be several English sessions on October 15.) English Sessions 1: Neo-liberalism and the Crisis of Contemporary Society
 The JSPE welcomes the papers in reference to neo-liberalism with key words such as (1) labor, poverty, classes and the polarization of winners and losers in the world economy; (2) globalization, new imperialism, etc., (3) The question of “Where to find the agent of required social reforms”, and
(4) other problematic.
English Sessions 2: Other General topics
 The JSPE also hopes to organize sessions focused on such popular themes as gender, the environment, economic regions and the Chinese economy, while remaining completely open to suggestions and proposals of presentations on other topics.

Submission Procedures and the Deadline
 Proposals should be reached the JSPE International Communication and Exchange Committee by 31 May 2005 at the latest.
Notification of acceptance will be sent by 19 June.
When submitting your proposal, please include:
1. The title of proposed paper and the category of the session; 2. The name(s) of the author(s) and affiliation; 3. E-mail and mailing address; 4. An abstract (up to 200 words).
Postal address is given below. Preference will be given to e-mail submissions.
Attendants will pay their conference fee (5000 yen including the conference buffet), own transportation, accommodation and other personal expenses.
Shinjiro HAGIWARA or Tomohiko SEKINE
e-mail address : Postal Mailing address:
To :Prof. Shinjiro HAGIWARA
Faculty of Economics, Yokohama National University Tokiwadai 79-3, Hodogaya-ku, Yokohama-shi, Kanagawa-ken, 240-8501, Japan TEL:+ 81-45-339-3575 (Prof. HAGIWARA’s Office), Fax:+ 81-45-339-3504

Second meeting of the European Network on the Economics of the Firm (ENEF)
Theme: “Creativity, Novelty, Entrepreneurship and the Theory of the Firm”
ERIM, Erasmus University Rotterdam, 8-9 September 2005
Erik Stam & Albert Jolink
After the successful first ENEF meeting at Sheffield (organized by Mike Dietrich) we would like to invite you for the second ENEF meeting at Rotterdam.
Proposals for paper presentations on the theory of the firm in general and especially on the theme of this year - Creativity, Novelty, Entrepreneurship and the Theory of the Firm - are in-vited.
Researchers and especially PhD students who would like to participate without a paper are also welcome.
It is hard to disagree with the proposition that creativity is important for innovation and ultimately the development of firms and economies. Human creativity includes the process of finding a novelty and then transforming findings into observable products. The relevance of creativity for innovation at the micro level and the rise of creative class and the importance of creative milieux at the macro level is central in current social scientific and policy debates. In this workshop we will focus on the level of analysis in between the individual and society: the firm.
The individual’s propensity toward creativity is an important entrepreneurial resource for firms. Some even say that creative ability – defined as the skill of combining resources in novel ways – is fundamental to a dynamic resource-based or evolutionary theory of the firm.
However, creative professionals are only loosely affiliated with organizations, and are perhaps more than average inclined to create their own organization. This workshop will deal with the role of creativity and novelty in entrepreneurship related to emerging and established multi-person business organizations, i.e. firms.
Invited speakers include Mark Casson (University of Reading), Elaine Mosakowski (University of Colorado at Boulder), Sophie Schweizer (Erasmus University Rotterdam & Vrije Universiteit Amsterdam), and Ulrich Witt (Max Planck Institute – Jena).
Deadline for submission of paper abstract: 1 May 2005 (notification of acceptance 17 May 2005)
Deadline for registration of participation: 1 July 2005
E-mail address for submission and registration:

Econophysics Colloquium, 14-18 November 2005
Research School of Physical Sciences and Engineering
Australian National University, Canberra, Australia

The aim of the workshop is to gather together researchers from different communities (physics, economics, finance, mathematics and engineerings) in order to review recent results, exchange ideas and methods and confront different view points on common problems linking economics and physical sciences. The ambition of the organizers is to promote open-minded, fruitful, cross-fertilizing exchanges between renowned academics of different fields, market analysts and practitioners.
The workshop will focus on topics covered by the field of Econophysics ( which applies methods from statistical physics and non-linear dynamics to macro/micro-economic modeling, financial market analysis and social problems.
Workshop topics include:
•Agent-based models: Theory and Simulations
•Information, Bounded Rationality and Learning in Economics
•Markets as Complex Adaptive Systems - Evolutionary Economics
•Multiscale analysis and modelling
•Non-linear Dynamics and Econometrics
•Physics of Risk
•Science of networks
•Statistical and probabilistic methods in Economics and Finance
The venue for the workshop is the Leonard Huxley Lecture Theatre in the Leonard Huxley Building on the ANU campus (building #56 at grid reference B4 on the campus map).

Important Dates
•Deadline for abstracts submission - May 14, 2005
•Notify abstract acceptance - June 14, 2005
•Deadline for Registration - September 24, 2005
•Deadline for accommodation booking - October 1, 2005

Dear colleagues,
Herewith I send you the call for papers for the second meeting of the European Network on the Economics of the Firm (ENEF), with the special
theme: "Creativity, Novelty, Entrepreneurship and the Theory of the Firm" at ERIM, Erasmus University Rotterdam, 8-9 September 2005. I look forward to meet you in Rotterdam!
Kind regards,
Erik Stam (


Conferences, Seminars and Lectures

7th Annual Conference of the Association of Heterodox Economics
City University, London
15 – 17 July 2005

The AHE is the principal world forum encouraging and supporting pluralism in economics with participants from nearly 30 countries expected at the conference.
The CONFERENCE is organised around the theme of "Pluralism in Economics", sessions incorporate a variety of perspectives and fields of study.
Issues examined include globalisation and international trade, poverty, finance, technology studies, monetary theory and policy, banking and financial institutions, health economics, labour economics and literary criticism. These are addressed by presenters from the fields of economic development, transition economics, applied microeconomics, economic history, history of economic thought, and methodology and philosophy of economics, as well as researchers working in interdisciplinary areas at the borders of economics with cognate disciplines such as sociology, psychology, political science, philosophy and management.
Presenters will examine issues or deploy approaches neglected by the current orthodoxy; and to further develop the critique - and the defence - of the neo-classical orthodoxy. Discussion and debate, amongst participants from such diverse traditions as Post-Keynesian, Austrian, Institutionalist, Evolutionary Economics, Neo-Schumpeterian, Sraffian, Marxist and neoclassical economics, contribute towards opening up the discipline of economics.
The AHE and its annual conference arose out of the belief that institutions of the discipline of economics systematically discriminate against those working in non-mainstream fields and approaches, specifically, economists writing from a heterodox standpoint or active in minority areas. Advocating pluralism in economics, the AHE and its conferences provide a forum for advancing new ideas in heterodox political economy both theoretically and in policy debates. These conferences enable heterodox economists the opportunity to network, and allow for the dissemination of ideas. They demonstrate the continuing relevance of heterodox political economy to those practising and utilising modern economics. The AHE also runs an annual graduate student training programmes and is currently holding a series of seminars at the LSE. We welcome participation and support from individuals and organisations that share our goals.
To register for the conference, please go to

Conference on Radical Economics in the 20th Century: Radical Economics and the Labor Movement, September 15-17, 2005

Call for Participants

September 15-17, 2005
University of Missouri-Kansas City
Kansas City, Missouri, U.S.A.


To commemorate the anniversary, Fred Lee and Jon Bekken in conjunction with the Industrial Workers of the World (IWW) are hosting the conference on radical economics. The Conference theme is the role of radical economics in the labor movement in the United States and around the world. Radical economics includes but is not restricted to anarchism, Marxism, syndicalism, radical Institutionalism, left-wing Keynesianism, and plain old-fashion radical economics. Topics covered include syndicalism past and present, local organizing education, radical economics and democracy, industrial relations, labor, and Latin American workers, the economics of the IWW, and Sraffa and organized labor. There will also be a session on radical economics and the IWW in song and theater; and if possible a tour of labor struggles in Kansas City. Come participate in a conference that occurs only once every 100 years.

Information about the Conference including Registration Form which includes Accommodation information, Program, and local information, can be obtained at its web site:
Fred Lee
Is a Professor of Economics at University of Missouri-Kansas City and a long-standing member of the IWW. He was instrumental in retrieving Joe Hill’s ashes from the National Archives in 1988.

Jon Bekken
Is an Associate Professor in Communications at Albright College and a long-standing member of the IWW. He is currently the editor of the Industrial Worker, the official newspaper of the IWW.

Conference is supported by the Union for Radical Political Economics

The II STOREP National Conference of the Italian Association for the History of Political Economy
on “The Theory of Decision in the History of Political Economy” will be held in Siena, 3 and 4 June, 2005.
Plenary speakers:
Giacomo Becattini, Terenzio Cozzi, Marco Dardi, Robert Dimand, Massimo Di Matteo, Massimo Egidi, Daniel Ellsberg,
Samuel Hollander, Bruna Ingrao, Brian Loasby, Siro Lombardini, Philippe Mongin, Aldo Montesano, Piero Tani, Alessandro Vercelli.
Sessions: The theory of decision in the history of political economy; Foundations of theories of choice; Claudio Napoloni’s thought;
Classical economic thought from A. Smith to marginalist school; Cognitive approach to economics in a historical perspective;
Some aspects about economic thinking and teaching; Macroeconomic consequences of individual action in Keynes’s and Kalecki’s tradition;
The evolution of the French economic thought; Theory of growth; Round table on “Napoloni’s answer to Sraffa”;
The philosophy of probability and the theory of decisions; Recent developments on institutionalism; Economics and mathematics;
Fredrich August von Hayek; Probability, uncertainty and competition; Controversial techniques and tools of economics; Keynes and decision theory;
Alfred Marshall; Hicks, Keynes and Kaldor: uncertainty; money and employment; Walras, Pareto, and Keynes: some seminal roots of contemporary economics; Young scholars panel session.
For further information and the complete programme see:


Heterodox Conference Papers, Reports and Articles

Skill Formation, Outsourcing, and Craft Unionism in Air Transport: By Cyrus Bina, PhD

The purpose of this article is twofold: (1) to rekindle old debates surrounding the efficacy of craft unionism (as opposed industrial unionism) in the age of globalization in order to provide insight into recent contentions by the Airline Mechanics Fraternal Association (AMFA) regarding the potential for craft strategy among mechanics in the air transport industry; and (2) to present a theoretical framework that combines the process of skill formation and technological change in a consistent and unifying manner. The theoretical framework offered here illuminates the transitory nature and meaning of skills in capitalism. Given the transitory meaning of skills and their extrinsic determination by the fast-pace of technology, to maintain reliance on the intrinsic value of skills alone—as AMFA seemingly does— should invite skepticism.


Heterodox Journals and Newspapers

Analyse & Kritik volume 26 (no. 2), 2004
Guest editors: Mark Peacock and Michael Schefczyk
Containing a symposium on: Philosophical and Methodological Issues in Economics

1) Olaf Müller - "Autodetermination in microeconomics: a methodological case study on the theory of demand", pp. 319-345.
2) Julian Reiss - "Evidence-based economics: issues and some preliminary answers", pp. 346-363.
3) Werner Gueth and Hartmut Kliemt - "Perfect or bounded rationality? Some facts, speculations and proposals", pp. 364-381.
4) Till Grüne - "The problems of testing preference axioms with revealed preference theory", pp. 382-397.

For detailed information:

Talking Economics Bulletin - May 2005

The consensus that the responsibility for the conduct of economic life lies not with the individual human being but with the state is such that the percieved health of the economy, by which is normally meant the national economy, is the defining issue of modern electoral politics. But what if it is the individual alone who can write the economy large? The Colours of Money Seminar seeks to address and clarify many of the key issues with which humanity is confonted by placing them in the context of an up-to-date understanding of money and thus setting the stage for every human being to play a part in restoring balance to an economy gone abstract.

1) Exploring a Path from Competition to Association, The Colours of Money Seminar - 17-19 June 2005, Stroud UK
2) Forthcoming Evening Events in London.
3) Themes from Talking Economics Monthly - The Value of Land
4) Community Land Trusts

1) The Colours of Money Seminar - 17-19 June 2005, Stroud UK (see attached flier for details)

Accompanied by unfair trade, widespread poverty, and burgeoning debt, our competitive way of life is marked by a ceaseless and unhealthy chase after money, which acts more as our master than our servant. Whether locally or globally, can we understand and use money in ways that enable competition to give way to more cooperative ways of doing business?

Colours of Money looks at new ways of understanding the history and purpose of money and how it can be the main instrument for bringing about real and lasting change in our economic circumstances. Ranging from the problems of small businesses to larger questions of global finance and the power of corporations, it offers a radical yet concrete approach to money in our times.

This seminar provides an opportunity to explore these problems in-depth. Based in part on Rudolf Steiner’s observations about modern economic life, it will be presented using coloured chalk imagery on black paper – a technique intended to make economics less dismal!

The seminar includes Getting to Grips with Globalisation, two public evening lectures entitled: The Future of Money - Localising a Global Problem and The Corporation - Friend or Foe of Humanity? 17th / 18th June 2005, 7.30–9.00 pm

Venue: The British School Hall, The Painswick Inn Project, Gloucester Street, Stroud, Gloucestershire, GL5 1QG Tel: 01453 759400

Cost: £100 seminar. £5 lecture only.

Registration: Arthur Edwards
Tel / Fax: 0044 (0)1452 810764 / 07979 935359

The seminar will be presented by Christopher Houghton Budd, an economic historian with a doctorate in banking and international finance. He specialises in topics ranging from sustainability to the financial markets and has a special interest in bridging between Rudolf Steiner’s work and current understandings. Based in Canterbury, England, he travels widely as an educator and consultant working with colleagues around the world

2) Forthcoming Evening Events in London.

•Thursday 12 May, 2005. Safe as Houses? The valuing of financial assets

•Thursday 16 June, 2005. Re-thinking Welfare Economics - Mutual benefits without the moral hazard

Time: 7.30 - 9.00p.m. Cost: £3.50 Venue: Rudolf Steiner House, 35 Park Road NW1 6XT (Baker St. Tube) 0207 723 4400

3) Themes from Talking Economics Monthly - The Value of Land

The perception that rising house prices are indicative of a booming economy is firmly established in the modern economic consciousness. A consequence of this is that houses begin to be seen as personal piggy banks whose value can be freely exploited with no apparent labour and no apparent cost. Yet wherein lies this value? Does it represent a true economic process? What is the consequence of basing the economy on such a semi-real notion? Public interest in and sensitivity to this issue are shown by the fact that newspaper circulation can go up by ten percent when the headline article deals with the ‘housing market’. At the same time, schemes such as Community Land Trusts are increasingly being used to defend affordable housing.

D’Arcy MacKenzie, in his article ‘Safe as houses?’, uses the analogy of water to describe the behaviour of free capital in the economy. Fresh water is of a very different quality to salt water, the distinction between spending money and investment capital must likewise be made.

Christopher Houghton Budd uses the Rare Albion column to question the notion that land has value, notwithstanding the presence of an economy all around us that bases itself on this ‘fact’, profiting from the capitalisation of land while core activities are starved of the money they need.

Two pieces explore land taxes, one by Peter Hetherington reports on a UK government- backed study into a windfall tax on planning gains, the other by Euro-MP Chris Huhne, proposes a land value tax which aims to tailor the tax to the revenue that the land can yield.

Our feature article entitled ‘peer-to-peer economics’ introduces Zopa, a firm which uses the internet to connect potential money lenders with borrowers directly. Douglas Wylie describes his experience at an associative economics gathering in North America - Beyond Oz, and Miche Fabre Lewin brings a poetic note to this May issue with her poem ‘Scare City’.

4) Community Land Trusts

Access to land, whether for sustainable farming or affordable housing, is increasingly reckoned to be a live issue in a world where many feel priced off the land. One such attempt to address this question is the Community Land Trust (CLT) model, which aims to ‘capture land value’ for permanent affordability.

Originating in the 1980’s, but with antecedents in the Victorian age, they have been seen as a way of serving the local community by incorporating the ownership of land in a social benefit organisation. While most of the up and running models are to be found in the USA, they have attracted some considerable interest from government planners in the UK, seeming to offer, as they do, a way of providing social housing free of state management but not at the mercy of the market.

April this year saw the founding of the Stroud and District Community Land Trust which aims to acquire and hold land for the benefit of the community, to provide permanently affordable homes, facilities and workspaces, to ennable people to build inclusive communities through democratic ownership and stewardship of land and to build long term assets for community re-investment. Among its benefits it offers part-equity intermediate market-housing for first time buyers and various socially inclusive community orientated aims.

While laudable in its goals, and without doubt generous in its application, it would appear that CLT’s do not actually challenge the notion that land does not of itself have value. In fact they assume that it does, and that this value needs to be protected from the market. The starting point is therefore one that reinforces the market paradigm, albeit by opposing it in these special instances. To question the commodification of land is a process of intellectual clarification and does not yet imply instituting a legal structure for its realisation. Establishing a proper understanding of the nature of land is in itself a solution to issue of capitalisation.

The associative approach to economics is based on the idea that economic life is the shared responsibility of every human being. Talking Economics is about making this responsibility conscious and finding ways to give it effect.


Heterodox Books and Book Series

The Macroeconomics of Development and Poverty Reduction - Strategies Beyond the Washington Consensus

By: Jan Priewe and Hansjoerg Herr
This book is a German contribution to a (post) Keynesian / heterodox view on topical development issues, development finance and the Millenium Development Goals.
Review copies can be sent to potential reviewer
s for appropriate academic journals if they mail to or

For detailed information: flyer.pdf


Heterodox Job Postings

North American Commission for Labor Cooperation
Researcher/Senior Researcher

Under the direction of the Director of Research, the Researcher or Senior Researcher conducts and/or coordinates research and analysis on labor and employment law, labor markets and/or employment relations in North America.
1. Prepares background reports on labor and employment issues in Canada, Mexico and the United States as provided in Article 14 of the North American Agreement on Labor Cooperation
2. Prepares studies on other issues as requested and in accordance with the terms of reference set out by the Council of Ministers
3. Carries out any other research or analysis that the Secretariat may request, including topical reports for electronic publishing
4. Finalizes background reports and studies for publication after approval by the Council of Ministers
5. Provides any information or data that the Council of Ministers may request
6. Recruits and supervises the work of contract researchers and research interns as required for the completion of research projects
7. Collaborates with other Secretariat research staff on team projects, and may act as a project leader
8. Provides, as required, support to consultation and evaluation procedures or any working group the Council of Ministers may establish
9. Assists, as required, in the cooperative activities of the Commission
10. Prepares and presents papers at conferences and seminars
11. Develops and maintains contacts with academic and government experts and researchers in fields relevant to the Secretariat's research program
12. Performs other duties as necessary for the effective operation of the Secretariat
13. Safeguards from disclosure information received by the Secretariat pursuant to paragraph 6 of Article 12 and Article 44 of the NAALC, and any information whose disclosure has not been approved by the Council

1.Degree in economics or related field; preference given to candidates with advanced degrees. Proven experience in economic and social policy research, preferably in a multilingual and multicultural setting
2.Exceptional writing and editorial skills; publications preferred
3.Working knowledge of at least two of the Commission’s official languages (English, French and Spanish)
4.Experience in using computer applications, such as word processing, databases, spreadsheet and statistical software packages
5.Strong leadership and personal skills. Ability to collaborate with other staff on team projects. Work with individuals, groups and organizations representing different interests and cultures
6.Good communications skills; experience with public speaking
Preference will be given to candidates with advanced academic training and language skills and those who have worked in international organizations, multi-linguistic and multicultural settings.

Appointment and Remuneration: Appointments to the Secretariat are normally for an initial period of two years, with the possibility of a subsequent extension. The salary range for this position (after tax) is US $60,000-75,000 per annum depending on qualifications and experience, and is accompanied by an excellent benefits package. Relocation expenses at the beginning and end of the appointment period are paid.

How to Apply: Submit a letter of application clearly demonstrating the required qualifications along with curricula vitae and the names and addresses of three references. Please send applications by email and by regular mail to:
Executive Assistant
Secretariat of the Commission for Labor Cooperation
1211 Connecticut Ave. N.W-, Suite 200
Washington, D.C. 20036-2716

Applications should be sent before May 23rd, 2005 to be considered for interviews on June 1st and June 2nd, 2005. However, applications are accepted until the positions are filled.


Heterodox Graduate Schools and PhD Scholarships

Two Research Scholarships From Wendy Olsen

I have won the funds to create two studentships, each is 3 or 4 years long. They are both on gender and work but include men as well as women; the topics and details are:

(1) Women Returners to Work in the UK: Attitudes and Constraints

(2) Working Part-Time, Full-Time, Overtime: But When and For Whom?

These two research scholarships running 2005-2008 will examine (1) how the women who return to work from childcare duties fare, and (2) how the weekly hours of work are decided among self-employed and other workers. Links with the Equal Opportunities
Commission will be encouraged during the course of the research award. See { HYPERLINK "" } for details of the two research topics.

As part of the PhD there will be opportunities for training in a range of research and employment related skills including project management, analysis, communication, writing and presenting. There will also be opportunities to attend international conferences and seminars. Some part-time teaching may also be possible. You can attend for one year at Masters level whilst preparing for the 3 years of PhD research. Your past experience in the voluntary sector, or working with unemployed people, mothers, self-
employed people, or socially excluded groups (if any) will be considered relevant.

The successful applicant for either project will need to have an enthusiasm for the subject area and show the potential to develop a range of research skills and expertise across a number of disciplines including sociology or economics or social policy. A 2.1 degree in a relevant discipline is required. Funded by the ESRC each PhD studentship will pay a minimum of £11,300 (tax free per annum) plus research and travel expenses.

To apply or be considered, please send, as soon as possible, your CV and a covering letter outlining your interest in the post to Margaret Martin, CCSR, 2nd Floor, Crawford House, University of Manchester Manchester M13 9PL. Tel: 0161-275-4721 email . You may revise your covering letter after making inquiries, up to the deadline for applications.

For informal enquiries please contact Dr. Wendy Olsen ( by phone or email. Examine the web sites { HYPERLINK "" } and { HYPERLINK "" to find out about the research CCSR currently is doing. You will be trained to do these sorts of research as well as qualitative research
during your award.

Applications due 5 June, 2005. Interviews will be held with individual applicants during June and early July 2005 and a decision will be made by 15 July 2005. Informal applications are welcomed.
Please note that as this is an ESRC award, only UK citizens who fulfil certain residence criteria will normally be eligible for a full award. EU citizens will normally only be eligible to apply for a tuition fees only award. We regret that applications from outside the EU will not be considered eligible for funding.


Heterodox Associations and Institutes

Institute of Advanced Studies- Lancaster University

Annual Research Program- 2005-06: The Knowledge-based Economy

We would like to draw your attention to several exciting projects coming up at Lancaster University under the auspices of our new Institute for Advanced Studies.

* Official opening of the Institute for Advanced Studies Building
* Inaugural Annual Research Programme 2005-6: The Knowledge Based Economy
* Initial Colloquium on The Knowledge Based Economy
* Visiting Fellowships on The Knowledge Based Economy
For detailed information: flyerleicester.pdf