Issue-13 July 13, 2005

From the Editor

There is much going on in heterodox economics. There are a number of new calls for papers and announcements of upcoming conferences and seminars. In addition, there are heterodox journals and newsletters announcements. In this regard, if you are not a member of EAEPE, take a look at the EAEPE Newsletter—this is the first time that the newsletter is available to non-EAEPE members. Also there are lots of announcements of new books. The FYI section has two interesting entries: one is the URPE-sponsored tour of the underbelly of Boston as part of the ASSA meeting in January 2006; and the second is the roundtable on Robert Heilbroner on tape for home or office viewing. I would encourage every one to look at the Lancaster Proposal in the section Queries from Heterodox Economists. Steve Fleetwood is a good heterodox economist and the proposal he is making is quite interesting. Finally, a personal note. While on holiday in China a couple of weeks ago, I gave a lecture at Beijing University on “Heterodox Economics: Theory and Policy Suggestions.” It went well. During the discussion afterwards a number of questions were asked about the status of heterodox economics in the United States, Europe and elsewhere and where do heterodox economists get jobs. I answered both sets of questions the best I could. However, the second question did cause me to wonder a bit. Thus, I am curious about where heterodox economists do get jobs and what the jobs are like. If anybody would like to share their views with me, please e-mail me at

Fred Lee


In this issue:

- Call for Papers

          - MATISSE meeting – September 2006 – Paris
          - Post Keynesian Economics Study Group
          - The Sustainable Development Policy Institute (SDPI)
          - Second Forum- The Spirit of Innovation

Conferences, Seminars and Lectures

           - Third Value Theory Symposium
           - Sweezy Memorial Lecture
           - The Center for Popular Economics
           - London Marx-Hegel Reading group
           - Economic Policies on Brazil: 2003-2006
           - Understanding Economic Growth: New Directions in Theory and Policy

- Heterodox Conference Papers, Reports and Working Papers

           - "Capital, Class and the State in the Global Political Economy" by William Tabb

 - Heterodox Journals and Newspapers

           - Eeconomic Sociology- European Electronic Newsletter
           - EAEPE Newsletter, Number 34, July 2005
           - Journal of Institutional Economics
           - Free Hard Copies of EAEPE Journal
           - Science & Society
           - Journal of Australian Political Economy
           - Research in Political Economy, Volume 22
           - La Lettre de la Régulation n°52 d'avril 2005 est parue
           - History of Economics Review
           - Talking Economics Bulletin - July 2005

- Heterodox Books and Book Series      

            -Book Review: The Rise of Unemployment in Europe-A Keynesian Approach, by Engelbert Stockhammer, 2004, Edward Elgar.
            - Economic Policy Institute
            - The Global Economic System Since 1945.
            - Economic Justice and Democracy: From Competition to Cooperation
            - "African Americans in the US Economy"
            - Understanding Capitalism: Competition, Command, and Change
            - Several Books from Pluto Press
            - Eric Hobsbawn En Chile- Los Limites Del Poder Americano
            - Reduction, Rationality and Game Theory in Marxian Economics
            - New Books in Evolving Values for a Capitalist World Book Series
            - Helping People Help Themselves

- Queries from Heterodox Economists

             - Lancaster Proposal

- For Your Information

            - Boston ASSA Tour and Panel
            - Media documents of Roundtable on Robert Heilbroner


Call for Papers

MATISSE meeting – September 2006 – Paris


Throughout history and at the different stages of the production process, the scope and the nature of state intervention have evolved. In the majority of industrialized countries, the 20th century saw a rise in social protection, in labour market regulations (employment laws, collective bargaining, employment policy), in public services (in particular education policy) and macro-economic policies designed to support activity and employment. The economic and political circumstances have led these four elements to combine in different ways for different countries, forming the four pillars of what we call the “social state”. This great transformation had hardly been planned. It was a pragmatic and multiform reaction to society’s need for protection in the face of destruction induced by a generalised market-oriented thinking. (For detailed information: matisse.doc)

Post Keynesian Economics Study Group

Venue: Middlesex University
Date: Friday 4th November

Papers are invited in any area of economics for the Autumn meeting of the Post Keynesian Economics Study Group. The meeting will take place at Middlesex University on the afternoon of Friday 4th November. Abstracts of no more than 250 words, preferably in Word format, should be submitted to Mark Roberts (e-mail:, although completed papers are, of course, also welcome. Please also direct any other queries concerning the meeting to Mark Roberts.
Thanks to the generous financial support of Triados Bank, travel expenses (APEX fares only) will be covered for all members of the study group and postgraduate students participating in the meeting.

The Sustainable Development Policy Institute (SDPI)

The Sustainable Development Policy Institute (SDPI) in Islamabad, Pakistan, organises its 8th Sustainable Development Conference (SDC) from 7-9 December, 2005. Two of the panels will focus on human development dimensions of the WTO (outlines below). Your abstracts are welcome! Deadline for submission is August 1, 2005.
Outline 'South Asian textile trade in the post-quota era'
In January 2005, the quota system for imports of textiles and clothing under the World Trade Organisation’s (WTO’s) Agreement on Textiles and Clothing (ATC) was phased out and gave way to more liberalised global trade in textiles and clothing. The labour-intensive textile and clothing sector has been the classical start-up industry for developing countries to export on their own account. It is the employment intensity of the textiles and clothing (T&C) industry in developing countries - in particular involving female workers – that makes the running out of the quota regime in January 2005 a hotly debated issue for human development.
The T&C sector is the biggest exporter for several South Asian economies and a large industrial employer those countries. The panel’s objectives are to explore the impact of the ATC expiry on various dimensions of human development in South Asia, including exports, employment, and gender equality. Policy conclusions will be drawn regarding the distribution of cost and benefits of trade liberalisation under the WTO regime.
Outline 'Privatised basic services'
The World Trade Organisation (WTO) has embarked on a major liberalisation of trade in services in the context of the General Agreement on Trade in Services (GATS). WTO member countries are requested to submit their GATS offers, i.e. the suggestions for opening up of particular services sectors. For example the governments of India and Pakistan have included the liberalisation of basic services, such as the provision of health care and education in their offer to the WTO.
No doubt, the provision of basic services in South Asia is woefully poor and a major obstacle to human development in the region. One fifth of the subcontinent’s children are not even sent to primary school and a third of the population does not access safe sanitation facilities. Expected benefits of liberalisation of trade in services might address these problems. It is assumed that liberalisation of services trade leads to increased competition and thus to improved service quality, lower prices, technology transfer, less corruption, as well as to employment creation.
Developing countries’ previous experiences of trade liberalisation and privatisation casts doubt on these hopes. Concerns are brought forward that the GATS threatens the principle of universal access to public services, the ability of the government to regulate, and that the negotiation process is heavily influenced by corporate interests but lack parliamentary and public scrutinity.
The SDC panel “Privatised basic services – in service of human development in South Asia?” will bring together assessments of the human development impact of the GATS and of privatisation of basic services in general. Policy concepts to guarantee that services liberalisation is in service of development will be at the core of the panel.

A soft and printed copy of the abstract of not more than 400 words should be submitted by August 1, 2005 at the address given below. It should clearly state the title, theme, objectives, sources of data, and major expected findings. It should include the author’s full name, a brief bionote as author of no more than 30 words, complete contact address (email as well as postal), telephone and fax numbers.

Karin Astrid Siegmann
Sustainable Development Policy Institute
# 3 UN Boulevard, Diplomatic Enclave-1, G-5
Islamabad, Pakistan
Tel: (92-51) 2278134; 2270674-6
Fax: (92-51) 2278135


The Second bi-annual Dijon Conference
Sponsored by the Journal of Post Keynesian Economics

December, 2-3, 2005
Université de Bourgogne, Laboratoire d’Economie Gestion, Dijon, France

Deadline for proposals: September 1, 2005
Deadline for final draft of paper: October 15, 2005

Organized by Claude Gnos and Louis-Philippe Rochon

“The Political Economy of Governance”

The notion of governance has become a buzz word in many academic circles. Originally associated with the firm, it is now more widely applied by mainstream economists. It addresses the context in which power is exercised in the firm and also within national, regional and international organizations, but also to describe how international economic relations are regulated. Governance rests on a set of rules, practices, regulations, norms and institutions. In this sense, according to mainstream thinking, transparency and accountability are core analytical elements of ‘good’ governance.

While a number of heterodox (institutionalists for instance) economists have written on this issue, the topic remains largely dominated by neoclassical economists, who have considerable influence over international institutions. But given the implications of this debate, it is essential that heterodox economists keep developing their views.

The objectives of the conference are firstly to analyze the evolution of the concept of governance and its underlying implications with particular emphasis on the connection between governance at the firm level and that of the macro, national or global, level. The second objective is to give added weight to the development of a heterodox perspective on this theme. In essence, by refusing to cede the place to neoclassical economists, we wish to offer a critical analysis of the theoretical foundation of governance in a political economy framework. We also want to propose a new set of economic policy reforms that will address some of the more contentious issues today. For instance, is the solution, like so many claim, to relinquish ourselves to the authority of the market? In proposing policies of ‘good’ governance, such as transparency, are economists not simply proposing market-friendly, policies? Are these not already the foundation of international relations, such as the Washington Consensus? Is not governance a substitute for activist economic policy?

We invite all heterodox economists, from institutionalists, to post-Keynesians, Marxists and feminist economists, to converge on Dijon in December to discuss some of the following issues:

Microeconomic issues:
-New models of corporate governance;
-Recent crises in corporate governance;
-Corporate Governance and social responsibility.
Macroeconomic and monetary issues:
-Governance and monetary policy;
-Is central bank transparency and accountability the solution?;
-Is good governance a good substitute for activist fiscal policy?;
-Is governance ‘old wine in a new bottle?;
-Governance and monetary unions/dollarization;
-Governance and labour unions.
International and regional issues:

-Interaction between corporate and global governance;
-Debates concerning the international monetary architecture, international finance, free-trade, Washington Consensus;
-American vs European models of governance;
-Governance in emerging economies (Development issues);

Proposals to be sent by e-mail, to:
Claude Gnos
University of Burgundy
Scientific committee
Philip Arestis, Cambridge University
Gérard Charreaux, Université de Bourgogne
Paul Davidson, New School University
Claude Gnos, Université de Bourgogne
Jesper Jespersen, Roskilde University
Peter Kriesler, University of New South Wales
Fred Lee, University of Missouri, Kansas City
Alain Parguez, Université de Besançon
Louis-Philippe Rochon, Laurentian University
Sergio Rossi, University of Fribourg
John Smithin, York University
Malcom Sawyer, Leeds University
Engelbert Stockhammer, Vienna University of Economics
Peter Wirtz, Université de Lyon

Second Forum- The Spirit of Innovation

Research Unit on Industry and Innovation – University of Littoral France
International Symposium
Knowledge, Finance and Innovation
September, 26-30, 2006
Deadline for communication proposals: March 1 2006.
Final decision of scientific committee: June 1 2006
Final texts: September 5 2006
Languages: English, French
Blandine Laperche
21, quai de la Citadelle
59140 Dunkerque –France
For detailed information: secondforum.doc


Conferences, Seminars and Lectures

Third Value Theory Symposium

Organised by the International Working Group on Value Theory (IWGVT)
Date: 18th and 19th July 2005
Venue: Room S75, St Clements’ Building, London School of Economics
Papers and maps at
Monday 18th July
09:00-09:30 Arrival, Registration, Coffee
09:30-11:00 Andrew Kliman (Pace University, USA) “Reclaiming Marx’s Capital from the Myth of Inconsistency.”
11:00-11:15 Coffee
11:15-12:45 Nick Potts (University of the Solent, UK) “Simulating the global economy in a sequential and non-dualistic value theoretical framework: a first attempt.”
12:45-14:00 Lunch
14:00-15:30 Hussain Ismail (University of York, UK) “Global accumulation and the profit rate in the car industry”
15:30-15:45 Coffee
15:45-17:15 Alan Freeman (University of Greenwich, UK) “What makes the US Profit Rate Fall? A response to Robert Brenner’s ‘Economics of global turbulence”
Tuesday 19th July
09:15-09:30 Arrival, Registration, Coffee
09:30-11:00 Julian Wells (Kingston University, UK) “Did Marx think the profit rate equalises?’
11:00-11:15 Coffee
11:15-12:45 Joost Ploeger (University of Amsterdam, the Netherlands): “Killing Two Birds With One Euro: A Marxist Analysis of the Attack on Labor and the Dollar”
12:45-14:00 Lunch
14:00-16:00 Round table on the establishment of Critique of Political Economy (COPE) a new journal of critical economics

Reading Group on the General Theory

At the beginning of next term I will be setting up a reading group to look at J.M. Keynes's "General Theory of Employment, Interest and Money" of 1936.
The group will be open to all, from first year undergraduate students onwards. The group will meet fortnightly at City University. Please get in touch if you would like to participate.

Andy Denis
Senior Lecturer in Political Economy, City University, London, and Visiting Research Fellow, CPNSS, London School of Economics
Telephone: +44 (0)20-7955 7334 (LSE), +44 (0)20-7732 7065 (home), 07761
428387 (mobile)

Sweezy Memorial Lecture

Joseph Halevi will be speaking at the Marx Memorial Library, Monday 18 July at 7.00 pm.  Topic: "Paul Sweezy and a Marxist response to contemporary capitalism".  Marx Memorial Library, 37a Clerkenwell Green, London EC1R 0DU, UK. Tel #44(0) 20 7253 1485.  URL:

The Center for Popular Economics
invites you to our 26th Annual Summer Institute with a Special track on: Health and Economic Justice

July 31-August 6, 2005
Amherst College, Amherst, MA

Speakers & workshop presenters: Heidi Behforouz, Partners in Health & PACT; John Abramson, author of Overdosed Americans; Jim Westrich, health economist; Dickson Despommier, Columbia University, Environment & Health Sciences; Jose deMarco, ACT-UP, Philadelphia; Mark Dudzic, national organizer for the Labor Party & formerly with OCAW; Sarah Kemble, Physicians for a National Health Program; and more!
For detailed information: The Center for Popular Economics.doc

London Marx-Hegel Reading group

Programme for 2005-2006

We will continue to look at the Marx Early Writings volume we have been reading this year. The programme agreed is set out below. We agreed to meet fortnightly over the three terms. We also agreed in principle to hold seminars on alternate weeks when there is no reading group meeting, but we have not yet decided on any of the seminars. We agreed to meet at 6.00 pm on Wednesdays, and that I should book a room at City University.


Karl Marx (1975) Early Writings. Lucio Colletti (Introduction), Rodney Livingstone (Translator), Gregor Benton (Translator). The Pelican Marx Library. Harmondsworth: Penguin/New Left Review. Paperback. The 1992 paperback Penguin Classics edition has the same pagination.

Term 1

1 The Jewish Question pp 211 - 227 (top) (16 pp)
2 The Jewish Question pp 227 (top) - 241 (15 pp)
3 Critique of Hegel's Philosophy of Right. Introduction pp 243 – 257 (15 pp)
4 Excepts from James Mill pp 259 - 278 (20 pp)
5 Paris Mss - Preface, and Wages of Labour pp 279 - 295 (top) (16 pp)

Term 2

6 Paris Mss - Profit of Capital pp 295 - 309 (16 pp)
7 Paris Mss - Rent of Land pp 309 - 322 (13 pp)
8 Paris Mss - Estranged Labour pp 322 - 334 (12 pp)
9 Paris Mss - The Relationship of Private Property pp 334 - 341 (7 pp), and
Private Property and Labour pp 341 - 345 (4 pp)
10 Paris Mss - Private Property and Communism pp 345 - 358 (13 pp)

Term 3

11 Paris Mss - Need, Production and Division of Labour pp 358 - 375 (17 pp), and Money pp 375 - 379 (5 pp)
12 Paris Mss - Critique of Hegel's Dialectic pp 379 - 386 (bottom) (7 pp)
13 Paris Mss - Critique of Hegel's Dialectic pp 386 (bottom) - 400 (14 pp)
14 Introduction by Lucio Colletti, Parts I and II pp 7-28 (21 pp)
15 Introduction by Lucio Colletti, Parts III and IV pp 28-56 (28 pp)


Andy Denis (
Senior Lecturer in Political Economy, City University, London,
Telephone: 020-7040 0257 (City), 020-7732 7065 (home), 07761 428387 (mobile)

Economic Policies on Brazil: 2003-2006
MINI CONFERENCE: 31 August 2005 (SOAS, University of London) Call For Participants


1.00 - 2.30 p.m.
Brazil as a Platform of International Financial Liberalization: The Role of Lula's Government, Leda Paulani (University of Sao Paulo)
Financial Constraints to Lula's Economic Policies, Luiz Fernando De Paula (University of the State of Rio De Janeiro)
Inflation Targeting in Emerging Countries: The Case of Brazil, Philip Arestis (University of
2.30 - 4.00 p.m.
Credibility, Balance of Payments Stability and the Public Finances Under Lula, Lecio Morais (Camara dos Deputados, Brazilian Parliament)
Lula's Macroeconomic Policy and Development in Peripheral Countries, Marco Crocco and Frederico Jayme Junior (CEDEPLAR - Universidade of Minas Gerais)
Debt Management in Lula´s Government: Constraints and Perspectives, Rogerio Sobreira (Getulio Vargas Foundation)
4.00 - 4.30 p.m.: Coffee
4.30 - 6.00 p.m.
Neoliberalism, Democracy and Economic Policy: Brazil 1985-2005, Alfredo Saad Filho (SOAS, University of London)
Brazilian Monetary and Financial Dynamics: Alternatives to Neoliberalism, Maria de Lourdes Mollo (Universidade de Brasilia)
The Consequences of Lula da Silva's Economic Policy: The Fear has Defeated Hope, Fernando Ferrari (Federal University of Rio Grande do Sul)

Financial support: thanks to the generous support of Triados Bank, we are pleased to say that we will be able to reimburse travel expenses (APEX fares) for PKSG members and postgraduate students.

Understanding Economic Growth: New Directions in Theory and Policy
Downing College, Cambridge, UK

1-3 September, 2005

For detailed information: Understanding Economic Growth.doc


Heterodox Conference Papers, Reports and Working Papers

 "Capital, Class and the State in the Global Political Economy" by William Tabb
William Tabb has a recently published article that may be of interest to some of the readers: “Capital, Class and the State in the Global Political Economy”. See the link


Heterodox Journals and Newspapers

ECONOMIC SOCIOLOGY European Electronic Newsletter
Vol. 6, No. 3 - July 2005

Note from the Editor

Dear reader,

In this issue Daniel Miller replies to Michel Callon, in a discussion that was started in the British journal Economy and Society a couple of years ago, and continued in the previous issue of this newsletter. In his response, Miller emphasizes the similarities between his own notion of virtualism and Callon’s notion of performativity. At the same time, however he argues that only some institutions (such as the IMF and the World Bank) have the power and ability to actualize their (neoclassical) economic models in the real world. In that respect, Miller distinguishes grand Kapitalism from numerous forms of small, everyday capitalisms; the latter can only be understood by sticking to ‘the integrity of ethnographic observation.’ In short, Miller’s response is a must read, if only for its implicit motto for economic sociologists: ‘economic life is rarely the way it purports to be.’

Also in this issue, Richard Swedberg tells in an interview how he got involved in economic sociology and how the Handbook of Economic Sociology (including the second edition, that recently came out) came about. Marieke de Goede sketches the contours of one of the most active fields within economic sociology: social studies of finance. De Goede shows how work on finance is done in a multitude of disciplines, including law, gender studies and geography. As to what the core themes should be, De Goede identifies three: performativity, resocialization and repoliticisation of financial practices. And then of course there are the usual book reviews, call for papers, and recent literature, which is this time recommended by Peter Levin.

The editorial committee and I would also like to inform you that we are going to update the website of the newsletter ( ) even more frequently, so that it functions even better as the prime source of information for economic sociologists on the web. This means that call for papers, job openings and other announcements can always be sent to me, after which they will be put on the website right away. Please check the website regularly.

Also, we would like to put together a collection of course syllabi for everybody to consult on the website. To that purpose, if you have ever taught a course on economic sociology, we hope you will be willing to share the syllabus with us. Syllabi can be submitted by email to me or to Jens Beckert ( ). By the way: Beckert, member of the editorial committee and since long involved with the newsletter, has recently been appointed director of the Max Planck Institute for the Study of Societies. We would like to congratulate him with his appointment, and wish him all the best in Cologne.

The deadline for the next issue is September 15th. As always, articles, book reviews and conference reports are welcome.


Olav Velthuis

EAEPE NEWSLETTER, Number 34, July 2005

Dear friends of EAEPE,

The current EAEPE newsletter can be downloaded from EAEPE's web site under the address,
where you can download also past issues. The direct link (opening the newsletter in your browser) instead is

You may read it with any pdf-reader such as Adobe Acrobat Reader (the Acrobat Reader may be downloaded for free from

May I draw your attention to two important issues concerning EAEPE that are announced in the newsletter:

*EAEPE Conference 2005 in Bremen, Germany:*
The Conference Programme for the EAEPE Conference 2005 in Bremen is reproduced in the newsletter. Additional information concerning the conference is also available on the EAEPE web site under the link

*EAEPE Council Elections:*
This fall a new Council for EAEPE will be elected. Related information is published in the newsletter as well as on the EAEPE web site under the link

*Other contents of the newsletter:*
The newsletter contains amongst other information also a:

- A short autobiographical essay by Bart Nooteboom
- An essay on the Post Autistc Economics movement by Edward Fullbrook
- A book review on Jack Katz' book "How emotions work" by Grainne Collins
- A book review on Engelbert Stockhammer's book "The Rise of Unemployment in Europe: A Keynesian Approach" by Özlem Onaran

I hope you will enjoy this newsletter. I apologize for potential cross-postings.

Andreas Reinstaller,
Editor, EAEPE Newsletter

Journal of Institutional Economics

The first issue of the Journal of Institutional Economics is now published.
This issue is available online, free of charge, on

Editor(s): Geoffrey M. Hodgson, University of Hertfordshire, UK
Elias L. Khalil, Vassar College, Massachusetts, USA
Richard N. Langlois, University of Connecticut, USA
Bart Nooteboom, Tilburg University, Netherlands
Ugo Pagano, University of Siena, Italy

Institutions are the stuff of social and economic life. The importance of understanding the role of institutions in economic growth is now widely appreciated. The Journal of Institutional Economics is devoted to the study of the nature, role and evolution of institutions in the economy, including firms, states, markets, money, households and other vital institutions and organizations. It welcomes contributions by all schools of thought that can contribute to our understanding of the features, development and functions of real world economic institutions and organizations. The Journal of Institutional Economics is an interdisciplinary journal that will be of interest to all academics working in the social sciences, particularly in economics and business studies. Contributions from politics, geography, anthropology, sociology and philosophy will also be welcomed.

Free Hard Copies of EAEPE Journal

Members of the European Association for Evolutionary Political Economy (EAEPE) are entitled to free hard copies of the 2005 issues of the journal. For details of EAEPE see or contact Annette Bartels <>

Best wishes
Geoff Hodgson
JOIE Editor in Chief

Science & Society

Dear URPE comrades and friends,
I don't usually "advertise," but I think you should know about this special issue.
I have just received an advance copy of the new issue of *Science & Society,* a special issue on *The Deep Structure of the Present Moment* (Vol. 69, No 3, July 2005). We are making this an ongoing project, and like the dialectical tension in the title. The idea is simple, but oh, so hard to implement: theory that is not abstract and lifeless; engagement with the thorny present that does not get bogged down in detail and lose its moorings.
The Guest Editor is historian Renate Bridenthal. Contributors are: Hester Eisenstein, Jerry Harris, David Laibman, Minqi Li, GeorgeLiodakis, William Minter, Anastasia Nesvetailove, William I. Robinson, Robert Went, and Nira Wickramasinghe. The papers are grouped into three topics/sections: "Stages and Global Transformation"; "The Political Economy of Crisis"; and "Constituencies in a Polarizing World."
I think the issue is a unique and powerful statement overall, andshould stimulate discussion. Get a copy by going to our site,, or to, link to Science & Society.
I would be glad to have URPE folks send in furthercontributions to the various debates engaged in this project.
All good wishes to everyone,
David Laibman, Editor, Science & Society

Journal of Australian Political Economy

The June 2005 issue contains the following articles:

Regulating the Power Shift: the State, Capital and Electricity
Damien Cahill and Sharon Beder

Liquor Retailing and the Woolworths/Coles Juggernaut
Evan Jones

The US Economy and the Sustainability of Bretton Woods II
Heribert Dieter

Beyond the Resource Enclave: Regional Development Challenges In Resource Economies of Northern Remote Australia
Bill Pritchard

Teacher Salary Relativities: a Benchmarking Approach
Mike Horsley and Anthony Stokes

Economic Notes: What Determines Australian Interest Rates
Ernst Weber

Subscriptions: $24.00 for four issues (2 years) or $25 annual institutional subscription

This subscription rate has not increased for 15 years.
So beat inflation … subscribe to JAPE now!

Send cheque or credit card details to:
JAPE, Box 76, Wentworth Building, University of Sydney, NSW 2006

Visit JAPE online at

Research in Political Economy, Volume 22

Editor: Paul Zarembka, State University of New York at Buffalo

The leading part of this volume focuses on the role of the state in capitalist society, beginning by showing the welfare state as an historical product of the class structure of English agrarian capitalism. The second chapter indicates how, in European colonies such as in Africa, taxation was an important means of forcing indigenous populations to work as wage-laborers or produce cash crops, and relating the process to Marx's 'primitive accumulation of capital'. The following two chapters move to the contemporary period, the first suggesting that change in the relationship between the nation-state and capital is rooted in the contradictory needs of labor versus capital, while the next chapter proposes analyzing capitalist institutions by relying, more than hitherto, on an hermeneutic understanding of institutions.

The following part addresses price and technical choice in capitalism. The first two chapters address price, the initial one suggesting its formation to be the same as the formation of abstract labor, while the second identifying a new category of exchange value and using it to explain how changes in demand act to redistribute value across industries. The following two chapters consider, empirically, the relation between technical choice and profit rates.

The third part addresses economic democracy within socialism, defending both direct democracy and economic calculation in terms of labor time. The concluding part develops an understanding of the class determination of knowledge, including explaining why the science and techniques developed in one class society can be used in others.


Agrarian Capitalism and Poor Relief in England, c. 1500-1790: Rethinking the Origins of the Welfare State
Larry Patriquin, Nipissing University

Taxation and Primitive Accumulation: The Case of Colonial Africa
Mathew Forstater, University of Missouri, Kansas City

The State-Capital Relationship and the Significance of Incorporating the Role of Labor
Eshrak Zaky, University of Toronto

Political Institutions and Economic Imperatives: Bringing Agency Back in
Martijn Konings, York University


Quantifying Abstract Labor: "Aliquot Part" Reasoning in Marx's Value Theory
Bruce Roberts, University of Southern Maine
Exchange, Demand and the Market-Price of Production: Reconciling Traditional and Monetary Approaches to Value and Price
David Kristjanson-Gural, Bucknell University
Testing Okishio's Criterion of Technical Choice
Cheol-Soo Park, Pratt Institute
Testing for the Marxian-Classical Criterion of Technical Choice
Gérard Duménil, Université de Paris X-Nanterre, and Dominique Lévy, CEPREMAP-ENS, Paris

Reflections on Economic Democracy
Paul Cockshott, University of Glasgow, and Allin Cottrell, Wake Forest University

On the Production of Knowledge
Guglielmo Carchedi, University of Amsterdam

298 Pages, 2005
Ordering at Elsevier Science:

For the United States, you may contact:
655 6th Avenue, New York, NY 10010-5107
Fax: (212)-633-3680 . . . Tel: (888)-437-4636

La Lettre de la Régulation n°52 d'avril 2005 est parue.
Elle est diffusée électroniquement et a conservé son format de 6 pages avec un point théorique et des informations sur les publications et les activités de l'association.

Vous y trouverez un point théorique de :
Les crises financières contemporaines : entre nouveauté et répétition
Mario Dehove (CEPN-Univ. Paris Nord)
Dominique Plihon (CEPN-Univ. Paris Nord)


Vous pourrez également trouver les précédentes Lettres de la régulation sur le site.
Nous vous rappelons ci-après les points théoriques des 12 derniers mois.

Lettre N°51
Les régulations du capitalisme financier
Michel Aglietta, FORUM (université Paris X – Nanterre) et Cepii
Antoine Rebérioux, FORUM (université Paris X – Nanterre)

Lettre n°50
Taxes, benefits and the distribution of incomes
John Morley, Univ. of Nottingham, Business School
Terry Ward, Alphametrics, Cambridge and Applica, Brussels

Lettre n°49
Le nouveau système français de protection sociale
J.C. Barbier (CEE)

Avec nos plus cordiales salutations
H. Nadel
Pour le comité de rédaction

History of Economics Review
Volume 41, Winter 2005.

- William Coleman, ‘A Conversation with Murray Kemp’, pp. 1-19.
- Craig Freedman, ‘Power Without Glory: George Stigler’s Market Leviathan’, pp. 19-48.
- Steven Kates, ‘”Supply Creates Its Own Demand”: A Discussion of the Origins of the Phrase and of its Adequacy as an Interpretation of Say’s Law of Markets’, pp. 49-60.
- Richard J. Kent, ‘Keynes and Say’s Law’, pp. 61-76.
- Peter Kesting, ‘Vision, Revolution and Classical Situation: Schumpeter’s Theory of Scientific Development’, pp. 77-97.
- Panayotis Michaelides and John Milios, ‘Did Hilferding Influence Schumpeter?’, pp. 98-125.
- Malcolm Treadgold, ‘Colonial Currency Boards: The Seigniorage Issue’, pp. 126-41.
- Michael V. White, ‘Breaking New Ground: The Significance of W. S. Jevons’s Rent Theory’, pp. 142-56.

Book Reviews, pp. 157-82.

Cumulative Index to Issues 1-40 (1981-2004), pp. 185-227.
Good value at $US15 post paid from J. E. King, Department of Economics and Finance, La Trobe University, Victoria 3086, Australia. Subscription and editorial details are available from our website,

Talking Economics Bulletin - July 2005

The start of the G8 summit in Scotland next week surely marks a red-letter day in the diaries of those who think that the economic crisis now faced by humanity can be solved by a political process. Yet the origin of this crisis is not political: it encompasses the relationship of every individual to the whole economy of the earth. While some lift their hands and ask 'What crisis?', global economy for others does not offer an opt-
out. The comfortable distancing of self from society is not so much a luxury but an illusion. Talking Economics this month addresses issue of global economy and the distinction to be made between economics, politics and individual initiative.

The Centre for Associative Economics, Forge House, The Green, Chartham,
Canterbury, CT4 7JW, 01227 738207
For detailed information: TalkingEconomicsBulletin.doc

Economic Issues

A general interest journal welcoming contributions from across the field

Editors: Andrew Abbott (Bath); Rob Ackrill (NTU); Bruce Philp (NTU); Gary Slater (Bradford); Leighton Vaughan Williams (NTU)

Economic Issues is a well-established journal publishing articles on a wide range of subjects and issues of current economic debate. The editorial base has recently moved to Nottingham Trent University (UK) and the team are keen to encourage submissions from across the full range of economic perspectives.

Subject to professional standards being maintained, the journal will allow authors considerable freedom in how they treat their subjects. Papers are particularly encouraged, however, which contribute to public discussion and which are applicable to the practical concerns of decision-makers.

Papers which provide an accessible survey of a field of economic debate are also actively encouraged.

The journal has a long tradition of publishing papers from a heterodox perspective, with contributions from, amongst others: Philip Arestis; Paul Davidson; Mathew Forstater; Geoff Harcourt; Luigi Pasinetti; Malcolm Sawyer; Ian Steedman (see web-site for more detail).

Further information including submission and subscription details, index to past issues, book reviews, contact details and a full listing for the editorial board can be found at:

Heterodox Books and Book Series

Book Review: The Rise of Unemployment in Europe-A Keynesian Approach, by Engelbert Stockhammer, 2004, Edward Elgar.

Özlem Onaran
In “The Rise of Unemployment in Europe - A Keynesian Approach,” Engelbert Stockhammer answers convincingly, using theoretical, as well as empirical tools, the question on why “unemployment in the European Union has risen from a modest level of around 2% in 1970 to 8.3% in 2002, a level unseen since the Great Depression.”
Full Text

Economic Policy Institute
New Books and Studies from the Economic Policy Institute:

The Global Economic System Since 1945.
Allen, Larry
London: Reaktion Books (Contemporary World Seires.
Series Editor, Jeremy Black)

This book paints a broad canvas of global economic history since 1945, showing how globalization has woven the earth over with an infinite web of currents, tides, and tensions. Rather than scaling the cold peaks of orthodox economic theory, it reveals the unsuspected insights that leap to the eye in a study of economic history. Underlying the analysis is a combination of the mechanistic paradigm of modern economics with an evolutionary paradigm more akin to life processes. The idea is that economics, like ecology, has to do with the vicissitudes of organisms. The reading level is suitable for students starting at the freshman level, but the subject matter will hold the attention of more advance students.

Chapter Titles
2.A Global Postwar Economy Takes Shape
3.Prosperity Born of Depression
4.The Thesis and Antithesis of Capitalism
5.The Ebbtide of Postwar Prosperity
6.A Tug of War between Inflation and Economic Controls
7.The Political Pendulum Suddenly Swings
8.The Floodtide of the Capitalist Revolution
9.The Forces of Speculation Enrolled in the Cause of Globalization
10.Global Confidence and Global Panic

Economic Justice and Democracy: From Competition to Cooperation

The book argues that progressives need to go back to the drawing board and rethink how we conceive of economic justice and economic democracy. After carefully examining competing notions, this book argues for defining economic justice as reward commensurate with effort, or sacrifice, and economic democracy as decision making power in proportion to degree affected. For detailed information: econjustice.doc

"African Americans in the US Economy"

Edited by Cecilia A. Conrad , John Whitehead , Patrick Mason, and James Stewart.

Published by Rowman & Littlefield Publishers, Inc.

This collection provides in one place a series of accessible essays on the economy and African Americans that would be use in teaching both interdisciplinary and economic classes on the history and state of African Americans.
For detailed information: African Americans in the US Economy.doc

Understanding Capitalism: Competition, Command, and Change

Samuel Bowles, Richard Edwards, and Frank Roosevelt, Understanding Capitalism: Competition, Command, and Change, Third Edition (New York: Oxford University Press, March 2005). ISBN 0-19-513865-1 ($45.95)

Additional information -- including the table of contents -- is available at:


The third edition of Understanding Capitalism: Competition, Command, and Change is an introduction to economics that explains how capitalism works, why it sometimes does not work as well as we would like it to, and how over time it not only changes but also revolutionizes the world around us. The "three-dimensional approach" of the text focuses on competition in markets; command in firms, governments, and international relations; and change as a permanent feature of a capitalist economy driven by technical innovation and conflict over the distribution of income.

The book covers the standard topics of supply and demand, market competition, imperfect competition, aggregate demand, inflation, and unemployment. It emphasizes the extraordinary dynamism and material productivity of the capitalist economy; the psychological foundations of human behavior; the logic and limitations of Adam Smith's invisible hand; technical change and the new information-based economy; global economic integration and its impact on national economies; the impact of economic activity on the environment; and inequality both within and among nations. In addition, it provides a critical evaluation of the tenets of neoclassical economics, a clear introduction to contract theory, and material drawn from new research in behavioral, institutional, and information economics.

Understanding Capitalism, 3/e, is ideal for undergraduate courses in economics and political economy.


-- Offers a new chapter on behavioral foundations of economics, showing that the selfishness of the "economic man" leaves out the important role of other social motives and describes how individual tastes and values evolve in response to experiences

-- Includes a new chapter that examines how economic success (and poverty) are passed on from parents to children and also looks at the increasing inequality of income and wealth along the lines of race and gender

-- Presents a completely revised and expanded treatment of the revolutionary changes that have been associated with capitalism over the past three centuries

-- Provides boxed treatments of issues that can serve as the basis of classroom discussions

-- Defines important terms in the margins throughout the text

-- Contains a section entitled "Sources of Economic Information" that helps readers locate relevant outside data, both in print and online.


608 pages; 99 figures; 7-1/2 x 9-1/4


Samuel Bowles is Research Professor at the Santa Fe Institute and Professor of Economics at the University of Siena, Italy.

Richard Edwards is Professor of Economics at the University of Nebraska-Lincoln.

Frank Roosevelt is Professor of Economics at Sarah Lawrence College.

To request an examination copy, please call a sales representative at 1-800-280-0280 or send an e-mail to:

To purchase (or have your bookstore purchase) the book from OUP, please call 1-800-451-7556.

Several Books from Pluto Press

- Arguments Against G8
- Ecological Debt: The Health of the Planet and the Wealth of Nations
- Green Alternatives to Globalisation: A Manifesto
- Biotechnology: Coroporate Power Versus the Public Interest
- Global Activism, Global Media
- The Video Activist Handbook – 2nd Ed.
- Change the World Without Taking Power – 2nd Ed: The Meaning of Revolution Today
- Globalizing Resistance: The State of Struggle
- The Politics of Empire: Globalisation in Crisis
- The Liberal Virus: Permanent War and the Americanisation of the World
- Neoliberalism: A Critical Reader
- The Porto Alegre Alternative: Direct Democracy in Action
- Open Borders: The Case Against Immigration Controls - 2nd Ed.
- Racism and Anti-Racism in Europe
For detailed information: PlutoPress.doc

Eric Hobsbawn En  Chile- Los Limites Del Poder Americano
Revista Encuentro XXI, tiene el agrado de informar a Ud. del lanzamiento de su número 19. Éste reúne las conferencias del historiador Eric Hobsbawm durante su visita a Chile, invitado por nuestra revista junto a CENDA y ARCIS.
El acto tendrá lugar el próximo martes 28 de Junio, a las 18 hrs, en la sala Ercilla de la Biblioteca Nacional.
Comentarán el texto las historiadoras María Eugenia Horvitz y Sofía Correa. Presentarán el número Jorge Arrate y Manuel Riesco.

Suscripciones y venta:

Reduction, Rationality and Game Theory in Marxian Economics
Bruce Philp 2005,Abingdon: Routledge Frontiers of Political Economy

“Loads better than Harry Potter. I wish I’d written it.” (J. K. Rowling)

This book develops Marx’s analysis of class conflict and the competitive process in the light of the emergence, since the late 1970s, of analytical Marxism. Contra analytical Marxism, this book maintains that it is essential to relocate game-theoretic Marxism in a methodological structure that gives primacy to class, rather than individual agents, in the process of generating social scientific explanations.

1 Introduction
2 Methodology of Reduction
3 Marxism and the foundations of collective action
4 Value, price and exploitation
5 Marxian theories of exploitation and class
6 Class conflict and working hours
7 Reduction, rationality and the rate of profit
8 Conclusion

For more information:

New Books in Evolving Values for a Capitalist World Book Series
Edited by Neva Goodwin, published by University of Michigan Press.
For detailed information:

Helping People Help Themselves:
From the World Bank to an Alternative Philosophy of Development Assistance
By David Ellerman
Foreword by Albert O. Hirschman
April 2005, University of Michigan Press

Click here to purchase the book at 30% discount!

Helping People Help Themselves grew out of David Ellerman's ten years at the World Bank—and particularly out of his three years as advisor and speechwriter for Joseph Stiglitz during Stiglitz's tumultuous term as the Bank's Chief Economist. The book provides a structural critique of the World Bank's approach to development assistance—but the main purpose is to lay the intellectual foundations for an alternative approach. The book takes a broad interdisciplinary approach drawing from educational theory, management theory, community organizing, psychology, and philosophy. While many thinkers are discussed, there is a focus on eight individuals who have wrestled in different fields with the fundamental conundrum of trying to give external help that promotes (rather than thwarts) self-help. Those individuals are: Albert Hirschman, John Dewey, Paulo Freire, E. F. Schumacher, Douglas McGregor, Carl Rogers, Saul Alinsky, and Søren Kierkegaard.

"A towering achievement... a coherent alternative "way of seeing" the relationship between aid organizations based in rich countries and aid recipients based in poorer ones, and some practical suggestions on how to reengage the aid agencies more as "helpers" than as "doers". Along the way it fairly sizzles with insider insights into the workings of the World Bank." ---Robert Hunter Wade, Development Studies Institute, London School of Economics
"Ellerman provides a compelling humanist understanding of how economic development aid can succeed, if only people and nations are enabled to help themselves." --- William Greider author, The Soul of Capitalism: Opening Paths to a Moral Economy
Click here to read the Table of Contents

Click here to read more about the Evolving Values Series


Queries from Heterodox Economists

Lancaster Proposal

Dear Colleague

At present there are hundreds of Heterodox economists and dozens of Heterodox associations, networks, groups, workshops, newsletters, conferences and so on, scattered all over the globe. This is on top of hundreds of people working on economic issues who would not consider
themselves 'economists' because they want to distance themselves from orthodoxy. Where can all these people and associations come together, over a significant period of time, to discuss ways to mount a serious challenge to the dominant orthodox tradition? How about Lancaster University's new Institute for Advanced Studies (IAS)?

I am putting together a proposal to bring together as many of these people and associations as possible for an initial 12 month programme of events based in Lancaster. Indeed, if this was successful, it might become a permanent feature and the Heterodox Economics project would
have an institutional base.

To do this, however, requires your help. At this stage, I need a (non-committal) expression of interest from any individual or association who feels this is a worthy venture and one they would like to support in some way. If sufficient interest is generated, I will then embark on the next stage of raising funds.

During 2007-8 would you, at least in principle, be prepared to visit Lancaster's IAS to:
*attend a conference or workshop on one or more Heterodox themes?
*hold your association's annual conference?
*organise, or help organise, a workshop, conference, summer school or some other project?
*give 'master classes' in your own specialism to interested parties such as postgraduates?
*attend a forum, and engage in a debate, perhaps a public debate, with Orthodox Economists?
*attend a forum with policy advisers?
*become involved in some other way?

If so, then please contact me with details of yourself, and/or the institution you represent, the particular Heterodox school(s) you subscribe to and your specialism(s) within it, and the some ideas on how you might like to participate.

Thanking you in anticipation

Dr. Steve Fleetwood
Research Director, IAS Knowledge-Based Economy Programme
Institute for Advanced Studies
Lancaster University


For Your Information

Boston ASSA Tour and Panel
Hazel Dayton Gunn, Managing Editor, Review of Radical Political Economics

Each year the RRPE sponsors a tour the day before the ASSA meetings that relate in some way to the city where the meetings take place, followed by a roundtable discussion on a similar topic. The tours are not limited to URPE members. The RRPE-sponsored Boston ASSA tour destination will be the Lowell National Historical Park, which preserves and interprets the history of the American Industrial Revolution through historic cotton textile mills. A bus will depart the URPE conference hotel on January 5, 2006, at 1p; during the approximately 50 minute drive to Lowell, Ron Applegate, a labor historian who worked at UMass/Lowell before moving to Cornell's Industrial and Labor Relations School, will give us some background
information on what we are to see. Once on site, Gray Fitzsimmons, a historian with the National Park Service, will lead our group through the exhibit. On our way back into Boston, Gil Skillman of Wesleyan University will entertain and enlighten us with labor songs accompanied by his guitar. We should be back in the city by 4p.

Following the tour there will be a roundtable discussion (4p-5:30p) entitled The Commonwealth of Toil: A Roundtable on Massachusetts Labor Movements. Randy Albelda of UMass/Boston will moderate. Panelists are Thea Lee (AFL-CIO trade lobbyist), Jim Green (UMass/Boston labor
historican), Susan Moir (Director of the Labor Research Center at UMass/Boston), and Chuck Turner (Boston City Councillor and labor activist for workers of color).

If you wish to participate, please send $30.00 to Hazel Dayton Gunn, Managing Editor, RRPE, Dept. of City and Regional Planning, 106 W. Sibley
Hall, Cornell University, Ithaca, NY 14853.
There will also be a suggested restaurant for those who wish to have dinner following the panel.

Media documents of Roundtable on Robert Heilbroner

Mr. Humberto Barreto taped the panel discussion at the 2005 HES conference titled, Roundtable on Robert Heilbroner, The Worldly Philosophers and the History of Economic Thought. Avi Cohen moderated and panelists Robert Dimand, Mathew Forstater, Susan Haack, and Warren Samuels, spoke on various aspects of Heilbroner, then answered questions.

The file is available on the web at: