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Issue 65: July 18, 2008

From the Editor

The dog days of summer or winter (depending which side of the equator you live on) are upon us. However this has not stopped heterodox activities. The Post Keynesian Summer School and Workshop and the Association for Heterodox Economics conference went well. I have heard that the Post Keynesian Economics Study Group UK (which is formalizing its membership and structure—see below for a membership form) is thinking about holding Post Keynesian conferences on the years that the PK Workshop is not held at UMKC. Hopefully this new endeavor links up positively with the AHE in terms of holding summer conferences.

Returning to the research assessment theme, in 2006 there was an Italian research assessment exercise that was based on publications for the period 2001 to 2003. One area covered was Economics and Statistical Sciences; and one members of the review panel was Professor Luigi Pasinetti. In Appendix 4 to the panel’s report ( ) Professor Pasinetti made some very important and strong criticisms about such exercises as it affects heterodox economics. His comments are too important to be buried in a government document! You should take a look at it. Perhaps other well-placed heterodox economists should also make statements. The entire exercise can be found at  There seems to be enough data available for an extensive study on the state of heterodox economics in Italian universities circa 2004 if someone would want to undertake it.

Regarding the San Francisco ASSA meetings, January 3-5 2008: the sessions of the Association for Social Economics will be located in the Hilton San Francisco. This probably means that the sessions of the Association for Evolutionary Economics will be held in the same hotel. Remember you need to register for the ASSA as soon as registration at the ASSA site is open—delay will mean being in hotels quite a distance away from the meetings.

Finally, it is heart lifting to see that a MA in Political Economy is being established at the University of Manchester. This is a much needed program in the UK and hopefully it will feed into heterodox doctoral programs such as at SOAS. One last thing, you might want to take a look at the article “Thought Control in Economics”.

Fred Lee

In this issue:
  Call for Papers
  - ESHET Conference
- World History and Historical Materialism
- The International Journal of Pluralism and Economics Education
- Journal of Innovation Economics
- The Forum for Social Economics
- Regional Studies Association Winter Conference
- Industry and Innovation
- Rethinking Marxism
- Call for Conference Stream Proposals
  Conferences, Seminars and Lectures
  - TSCF Malta II conference
- SCEME/PKSG Seminar
- World Forum of Applied Knowledge
- URPE Summer Conference
- World-Embracing Technologies in a Historical Perspective
- Automobility: A Conference on the 100th Anniversary of the Model T
- History of American Capitalism
- Circulations: Economies, Currencies,Movements in American Studies
- Anti-Union Employer Strategy: An Historical Analysis
- The Representation of Working People in Britain and France
- Character & Trajectory of the Indian Economic Formation in an Era of Globalization
- Globalization: Cultures, Institutions and Socioeconomics
Job Postings for Heterodox Economists
  - Technical University of Denmark
- State University of New York at New Paltz
- Research Director
  Heterodox Conference Papers and Reports and Articles
  - “Estados Unidos se encuentraen un estado moribundo”
- Bubbles, Risk, Crunch and War
- Contingent Labor and Omnipotent Capital: The Open Secret of Political Economy
  International Confederation of Associations for Pluralism in Economics - News
  - ICAPE News
  Heterodox Journals and Newsletters
  - Review of Political Economy
- Associative Economics Bulletin
- Historical Materialism
- Feminist Economics
- Economic Sociology - the european electronic newsletter
- Intervention. European Journal of Economics and Economic Policies
- Journal of Post Keynesian Economics
- Levy News
- International Journal of Public Policy (IJPP)
  Heterodox Books and Book Series
  - The Political Economy of European Union Competition Policy
- IPE Titles by Routledge
- L'argent des anthropologues, la monnaie des économistes
- Economic Rights: Conceptual, Measurement, and Policy Issues
- The Political Economy of Work
- The Great Deficit Debacle
  Heterodox Graduate Program and PhD Scholarships
  - MA in Political Economy (Manchester)
Heterodox Websites, Associations and Blogs
  - Heterodox Economics Group on Facebook
- Post Keynesian Economics Study Group
  For Your Information
  - “Thought Control in Economics” by Tom Green
- An Interview with Michael Hudson
- Economists Papers Project
- Yngve Ramstad

Call for Papers

ESHET Conference

13th Annual Conference of the European Society for the History of Economic Thought

23-26 April 2009

The 13th Annual Conference of the European Society for the History of Economic Thought (ESHET) will be organized by the Economic Departments of the University of Macedonia and the Aristotle University and will be held at the University of Macedonia, Thessaloniki, Greece. The special theme of the conference is

Technological Change and Economic Analysis

The kind of questions to be asked include: What can we learn from the history of economic thought as regards the causes, the forms and the effects of technological change? How do different approaches to the problem compare with one another? Which ideas and concepts were preserved over time, which got lost, and why? Topics for discussion could include:

• Contributions to! an analysis of technological change by single authors and entire schools
• Early debates on the dynamics of technological change
• Capital accumulation and technological change
• Technological change and income distribution
• Technological change and economic development
• Technological change and (un)employment
• Technological change and its impact on the labour process
• Technological change and the environment

Professor Robert Solow (MIT, Cambridge, MA) has kindly accepted to give one of the keynote lectures.

Proposals for papers or sessions on all other aspects of the history of economic thought are also welcome. An abstract of about 400 words for a paper and about 600 words for a session should be submitted at the latest by January 15, 2009. To submit an abstract, register at the con! ference website and follow the instructions. (It is planned to! publish a selection of papers on the special theme in a conference volume.)

ESHET Young Scholars Seminar

ESHET invites young scholars (i.e. those who are working on or have just completed a PhD, regardless of their age) to submit their work to the Young Scholars Seminar to be held on the occasion of the ESHET Conference. Four submissions will be selected: ESHET will cover board, accommodation and registration fees plus travel expenses up to €300. The authors of the selected papers will have 30 minutes each to present the paper and a senior scholar, appointed by the ESHET Council, will discuss it. Papers may be on any topic relevant to the history of economics, and are not restricted to the conference theme. ESHET encourages young scholars to participate in the conference. A one-year ESHET membership is offered to all young scholars who submit a paper. Candidates should e-mail a paper no longer than 9.000 words to Professors R! agip Ege and Tiziano Raffaelli (  and ), by February 20, 2009. The results of the selection process will be communicated to the candidates by 25 March 2009. Papers that have not been selected will be considered for presentation at other conference sessions.

Scientific committee: Harald Hagemann (Stuttgart-Hohenheim), Heinz D. Kurz (Graz), Amos Witztum (London Metropolitan University), Persefoni Tsaliki (Aristotle University, Thessaloniki), Lefteris Tsoulfidis (University of Macedonia, Thessaloniki), Joachim Zweynert (Hamburg)

Local organizing committee: Theodore Ikonomou (Aristotle University, Thessaloniki),
Stavros Mavroudeas (University of Macedonia, Thessaloniki), Persefoni Tsaliki (Aristotle University, Thessaloniki), Lefteris Tsoulfidis (University of Macedonia, Thessaloniki)

World History and Historical Materialism

An International Conference at the Universityof Manitoba(Winnipeg, Canada)
March 12-14, 2009
The field of World History has been a growing area of scholarship and education over the last three decades. In focusing on the global impact and implications of colonialism, imperialism, the mercantile and industrial revolutions, as well as revolutionary resistance from the early-modern period to the present, World History provides a framework for understanding international capitalism, contemporary politics, and the relationship between economic systems and the dynamics of diverse societies.
This conference will examine the relationship between the historical roots of World History and its contemporary social, political, economic, and cultural dimensions. We invite paper submissions on a range of topics related to World History and Historical Materialism and encourage papers on the following themes:

• Class and Global Developments
• Authoritarian Capitalism and Human Rights
• Empire, Imperialism, and Neo-colonialism
• Political Economy of Gender and Sexuality in Global Contexts
• Revolution and World History
• History of Communism and the International Left
• Postcolonialism, Eurocentrism and the Politics of World History
• Global Finance and Neo-Imperialism
• Race and Racism in World History
• Labor, Work, and the History of Migration
• Democratic and Popular Resistance to Global Capitalism
Confirmed Plenary Speakers
Bruce Cumings, Universityof Chicago
Karen Dubinsky, Queen’s University
Rosemary Hennessy, RiceUniversity
Rebecca Karl, New YorkUniversity
Hyun Ok Park, YorkUniversity
Mary Poovey, New YorkUniversity
(additional plenary speakers to be confirmed)

We welcome individual submissions as well as panel proposals. For individual papers, please send a 250-word abstract and a one-page CV (maximum); for panel proposals please send a 250-word panel abstract along with a 250-word paper abstract and one-page CV for each presenter. Proposals can be submitted by email, fax, or mail to: Tina Chen ( ) / David Churchill ( )
Department of History
University College
University of Manitoba
Winnipeg, Manitoba
R3T 2M8
Fax: 204-474-7914
Travel subsidies may be available for graduate students who present papers at the conference.
Deadline for submission of proposals: October 1, 2008
Hosted by the Interdisciplinary Research Circleon Globalization and Cosmopolitanism and the Department of History at the Universityof Manitoba.

The International Journal of Pluralism and Economics Education

Inderscience announces publication of a new journal in economic education, The International Journal of Pluralism and Economics Education. The IJPEE will publish four issues a year, the first in January 2009 and the remaining issues March June, September and November. The IJPEE welcomes and encourages manuscripts from all members of the heterodox and pluralist community. The Journal will publish on all aspects of pluralism and economics education with special attention, but not limited, to the following topics:
- Defining pluralism
- What is pluralism and how can we incorporate it into the classroom
- The rhetoric of pluralism: communicating within and across disciplines
- Teaching the theory of the firm from a pluralist perspective
- Teaching pluralism in developing countries
- What can pluralists learn from Adam Smith and other classical economists?
- Incorporating pluralism into online courses
- Using pluralism to construct a framework for solving global problems
- Are there limits to extending pluralism?
- Pluralism and the individual
- Pluralism as a central component of honours courses
- Pluralism at the community college
- Encouraging pluralism at the high school level
- Necessary mathematics for pluralism
- Reaching out to other social sciences
- Teaching ecology from a pluralist perspective
- Understanding the financial crisis from a pluralist perspective
- Pluralism and system dynamics

Interested authors should consult the webpage at for specific requirements. Manuscripts should be e-mailed to:

Jack Reardon
Department of Management and Economics
School of Business
Hamline University
St. Paul, Minnesota 55104

Journal of Innovation Economics

JIE n°1, De Boeck, Brussels and Research Network on Innovation, Paris
You can find more information about the JIE and its online edition on the CAIRN scientific website

The JIE is open to your paper proposals and remarks
Next issue: Dynamics of innovation and new forms of organisation and governance of the firm (11, 2008)
Contact Information:
Editor of the JIE

The Forum for Social Economics

Guest Editor: Geoffrey E. Schneider, Bucknell University
Guest Associate Editors: Daniel A. Underwood, Peninsula College; Janet T. Knoedler, Bucknell University

The Forum for Social Economics is seeking papers of various types related to Teaching Social Economics. Papers can be short (1000-2000 word) descriptions of classroom exercises or the application of particular pedagogies (e.g., service learning, active learning, web based interactive exercises) to teach social economics. Submissions can also be longer in depth articles (up to 7500 words) which explore a particular pedagogical issue, assess student learning outcomes, or teaching issues related to social economics. Articles should clearly stress a heterodox economic tradition (e.g., social economics, institutional economics, post-Keynesian economics, Marxian economics, Feminist economics, etc.) with an emphasis on how that tradition can advance economic education.

Manuscript submissions should be sent in electronic form as an e-mail attachment in Microsoft Word format to Geoff Schneider ( ). The deadline for manuscript submission is September 1, 2008. Articles must be in final form by December 31, 2008.

Papers will pass a double-blind referee process supervised and subject to the final approval of John Marangos, Editor of the Forum for Social Economics.

The Forum for Social Economics is an international journal, along with the Review of Social Economy, sponsored by the Association for Social Economics. For 35 years the Forum has published high quality peer-reviewed papers. The Forum is a pluralistic journal publishing work that addresses economic issues within wider ethical, cultural or natural environmental contexts, and is sympathetic to papers that transcend established disciplinary boundaries.

The journal welcomes stimulating original articles that are clearly written and draw upon contemporary policy-related research. Preference is given to non-technical articles of topical and historical interest that will appeal to a wide range of readers. For this special issue, the journal is particularly interested in serving as an avenue for issues regarding teaching economics, in particular teaching approaches to social and heterodox economics.

Instructions: Authors should place name, address, phone, fax, and e-mail address on a separate cover sheet and remove identifying information from the title page and body of the manuscript. They should also include an abstract of no more than 150 words and a brief biographical statement of no more than 125 words about each author should be supplied. In addition a list of up to 5 key words, suitable for indexing and abstracting services, should follow the abstract. Authors should not submit articles that have been previously published or that are under review for publication elsewhere. Manuscripts should not exceed 7,500 words in length, including notes and references. Include the article and all tables and figures in the same electronic file. American rather than British spellings should be used.

Regional Studies Association Winter Conference

Friday 28th November 2008

In recent years, employment issues have been neglected in regional studies debates as the focus has turned to issues of productivity, growth and performance. In part this reflects relatively low rates of unemployment in many regions in the developed world, but it is also indicative of policymakers' concern with economic growth at the expense of broader and alternative visions of regional development. As the global economy enters a period of prolonged uncertainty, it is timely to ask questions about current trajectories of regional development and their implications for creating meaningful work and livelihoods.

Despite recent processes of economic growth at a global level, continuing evidence of uneven development between regions and disparities in both the quality and quantity of jobs being created suggests the need to put work and employment issues back to the forefront of debate. Additionally, and despite apparently low unemployment rates, low levels of labour market participation in many regions have posed important dilemmas for policymakers, leading to a raft of new ‘workfarist’ solutions, prompting important questions about effectiveness and social impact.

The imbalance in employment opportunities between regions has also resulted in an increase in labour migration over the past decade. Inter-continental, international and inter-regional processes of migration are creating increasingly complex local labour markets and posing some important political, economic and social dilemmas for policymakers, academics and citizens. In particular, supplying a labour force to fuel economic growth and the ethics of providing decent work and protecting vulnerable minorities has become an important regional issue.

Contributions are welcomed on the following themes:
- Relations between employment and regional economic performance
- Unemployment, worklessness and regional employability
- Migration, mobility and local labour market segmentation
- Poverty, exclusion and the local labour market
- Commuting, mobility and the changing shape of the regional labour market
- Active labour market policy and regional outcomes
Decent work, progressive regionalism and local living wage campaigns

Please submit offers of papers in the form of 400 word abstracts through the Regional Studies Association on-line conference portal by Monday 21st July 2008. Your MS Word file should contain your name, telephone, fax and e-mail details. To submit go to  and follow the Winter Conference Call for Papers link.

Proposals will be considered by the Conference Programme Committee against the criteria of originality and interest, subject balance and geographical spread.

Lisa Bibby-Larsen, Regional Studies Association,
PO Box 2058, Seaford BN25 4QU, United Kingdom
Tel: +44 (0) 1323 899 698, Fax: +44 (0) 1323 899 798, E-mail:

Industry and Innovation

*"Experience the Creativity"*
A special issue of /*Industry and Innovation*/ focused on the creative and cultural industries.
Guest Editors:
Richard Florida
Kevin Stolarick
Charlotta Mellander

Submission deadline: February 1, 2009
Final manuscripts: August 31, 2009
Publication: Industry and Innovation vol. 16, no. 6 (December, 2009)

Click here for detailed information.

Rethinking Marxism

Rethinking Marxism Ad- Heterodox Economics Newsletter

Call for Conference Stream Proposals

International Association for Feminist Economics Sessions at the forthcoming annual society of heterodox economics conference
Sydney, Australia, December 2008


Conferences, Seminars and Lectures

TSCF Malta II conference

This is to inform you that the provisional program of the TSCF Malta II conference on Social Capital and Social Inclusion has been published on our conference site. If you have suggestions, or if you feel that you may be involved in one or more sessions, please let us know. Submissions and registrations are still open currently.

TSCF is also looking forward to having new active members. We are looking for persons with various profiles and skills, such as academic reviewers but also marketing and media specialists, web or computer specialists, fundraisers, librarians and information science specialists, and many others. If you are interested please send cover letter + CV for deliberation.
Malta II Conference site


Call for participants for the SCEME/PKSG Seminar on 'Methodology After Keynes' on Saturday 20th September in Stirling. The programme and registration details are available at  Please note that, if you want to make sure of campus accommodation, it is advisable to book it by 8th August if possible. For further information please contact Sheila Dow at
Seminar Program
Seminar Registration Form
Additional Information

World Forum of Applied Knowledge 

URPE Summer Conference

This is to remind you that the annual Summer Conference of the Union for Radical Political Economics ( ) is coming up in August!


We invite you to attend, and also to organize (or participate in) a PRESENTATION/PANEL/WORKSHOP. Some new panels have been organized since the last listserv posting (see below, under plenary schedule), but there is still room for more. Pat has been getting calls at the National Office asking if the conference will include panels on the current crisis. We have some, but not enough, so please consider presenting on some of the urgent issues of the day, and the radical theory behind them.

Please email Al Campbell at  with an indication of what you would like to present (and get feedback on).
Click here for detailed information.

World-Embracing Technologies in a Historical Perspective

Globalization revisited: World-embracing technologies in a historical perspective is one of the topic streams for the interdisciplinary international conference "Technologies of Globalization" October 30 & 31, 2008 at Darmstadt University of Technology.

Automobility: A Conference on the 100th Anniversary of the Model T

Automobility: A Conference on the 100th Anniversary of the Model T on November 6-7, 2008 at the Hagley Museum and Library in Wilmington, Delaware focuses on the impact of motor vehicles in America since 1908.

History of American Capitalism

Grad Student Conference
The History of Capitalism in the United States is a graduate student conference at Harvard University on November 6-8, 2008.

Circulations: Economies, Currencies,Movements in American Studies

The New York Metro American Studies Association and the Columbia Journal of American Studies welcome papers on any historical period for Circulations: Economies, Currencies, Movements in American Studies on November 8, 2008. Presentations that circulate across historical and disciplinary borders are particularly encouraged.

Anti-Union Employer Strategy: An Historical Analysis

Anti-Union Employer Strategy: An Historical Analysis is a symposium/workshop on November 10, 2008 organized by the Business and Labour History Group, Faculty of Economics and Business, University of Sydney.

The Representation of Working People in Britain and France

The Representation of Working People in Britain and France at the Université de Rouen from November 13 to 15, 2008 constitutes a reconsideration of representations of workers and the meaning and experience of labor, and the ways in which the socio-political relations of work were mediated from the medieval period to the 20th century.

Character & Trajectory of the Indian Economic Formation in an Era of Globalization

The opening keynote for The Character and Trajectory of the Indian Economic Formation in an Era of Globalisation on November 26 to 28, 2008 at the University of Delhi will be given by Professor K.M. Shrimali, on the mode of production as a concept in Indian historiography.

Globalization: Cultures, Institutions and Socioeconomics

"Globalization: Cultures, Institutions and Socioeconomics," an international conference to be held in Hong Kong, December 12 and 13, 2008 is co-sponsored by the Chinese University of Hong Kong and Washington University in St. Louis.

Job Postings for Heterodox Economists

Technical University of Denmark

The Department of Management Engineering (MAN) at the Technical University of Denmark invites applications for an associate/assistant professorship in user-oriented innovation and market creation. The position is available from 1 September 2008.
The position is attached to the section of Innovation and Sustainability at MAN. The section covers research in innovation processes as well as technological and environmental relations in a business perspective and a social perspective. The activities are based on cross-disciplinary competences from both technical research and social sciences.
The position is part of a build up within newly established research and educational programmes in engineering design and innovation at DTU. The candidate will be offered challenging work in close collaboration with a cross-disciplinary team of colleagues.

Qualifications requirements
The successful candidate will have a Master’s degree in engineering or a similar degree (NB: socio-economists with an interest in technology are welcome) and academic qualifications equivalent to those obtained by holding an assistant professorship (for an associate professorship) or the PhD level (for an assistant professorship).
We are looking for a person qualified in user-oriented innovation and market creation and who has a background in economic sociology or innovation and organisation studies. The candidate should comply with the requirements of an assistant or associate professor position within one or more of the following areas:
- staging of user-oriented innovation
- co-creation of products and markets
- transition of industries leading to new types of product service systems and use
Candidates must have a thorough command of English and if not Danish speaking be prepared to acquire sufficient skills in the language to be able to teach in Danish at BSc level.
More information: 

State University of New York at New Paltz

Visiting Position at SUNY—New Paltz

The department of Economics at the State University of New York at New Paltz is currently accepting applications for a visiting position for the 2008-2009 academic year. A Ph.D. or ABD in Economics is required.
Teaching responsibilities are 3 courses per semester. The desired upper division courses include: Development, Labor, or History of Economic Thought. Familiarity with heterodox approaches in political economy is desirable. For consideration, submit a cover letter, vita, 3 letters of recommendation, and student teaching evaluation summaries to:

Department Chair
SUNY–New Paltz
Department of Economics JFT 814
600 Hawk Drive
New Paltz, NY 12561-2440

Applications will be accepted until the position is filled. SUNY—New Paltz is an AA/EEO/ADA employer.

Research Director

Sustainable Prosperity Initiative
(based at University of Ottawa's Institute of the Environment)
Position: Research Director - Sustainable Prosperity Initiative
Location: University of Ottawa, Institute of the Environment (location negotiable)
Salary: Negotiable, commensurate with experience
Start Date: September 2, 2008
Closing Date for Applications: July 31, 2008
Click here for the detailed information.


Heterodox Conference Papers and Reports and Articles

“Estados Unidos se encuentraen un estado moribundo”

Entrevista con Cyrus Bina
Click here to read the paper.

Bubbles, Risk, Crunch and War

By Cyrus Bina and Fernando Dachevsky
Click here to read the paper.

Contingent Labor and Omnipotent Capital: The Open Secret of Political Economy

by C. Bina and C. Davis
Click here to read the paper.

International Confederation of Associations for Pluralism in Economics - News


During the past few years, a number of articles about pluralism and heterodox economics have appeared which make reference to ICAPE and its statement of purpose, or at least that is what is claimed. What is central to ICAPE’s approach to pluralism is that different theoretical approaches have a right to exist and that organizational/institutional power should not be used to compromise that right. That is to say, pluralism does not exist, according to ICAPE, if efforts by proponents of one particular approach use various forms of social power such as research assessment exercises, journal/book series editor/reviewer, and hiring to prevent proponents of an ‘opposing’ approach from engaging in and publishing their research and teaching their approach. ICAPE does not take a position on which approach is right; rather it takes the position that each approach has a right to speak out and that it encourages proponents of the various approaches to engage in dialogue with each other. ICAPE promotes this pluralism and dialogue by sponsoring events and a display table at the ASSA meetings; and every three years it holds an international conference (discussion is under way to determine where/when the next conference will be held). Other activities are currently being discussed.

ICAPE is an association of associations, so individuals cannot join it (however, this is a topic that is always under discussion). If you think the purpose and activities of ICAPE are worthwhile and hence should be supported, approach your economics department, the associations and research institutes to which you belong, and economic journals to which you subscribe and/or publish in to join ICAPE. ICAPE can only continue to promote pluralism in economics with your support.

Fred Lee
Executive Director


Heterodox Journals and Newsletters

Review of Political Economy

Volume 20 Issue 3  is now available online at informaworld ( ).

This new issue contains the following articles:

Self-Flagellation and Utility Maximization, Pages 307 - 318
Authors: Robert T. Jerome; Kristina Terkun; Robert N. Horn; Bridget I. Butkevich

A Post-Keynesian Model of Accumulation with a Minskyan Financial Structure, Pages 319 - 331
Author: Sébastien Charles

Josef Steindl and the Instability of Capitalism, Pages 333 - 340
Author: J. E. King

The Trade Cycle, Pages 341 - 348
Author: Josef Steindl

Foreign Banks and Political Sovereignty: The Case of Argentina, Pages 349 - 366
Author: Wesley C. Marshall

The Emergence of the Law of Value in a Dynamic Simple Commodity Economy, Pages 367 - 391
Author: Ian Wright

Can We Meaningfully Speak of Changes in Price under the Regime of Changes in Techniques?, Pages 393 - 403
Authors: Paul Cockshott; Ajit Sinha

Why Economists should Choose their Inheritance: Physics and Path-independence in Economic Systems, Pages 405 - 420
Author: Dany Lang

Finance and the Cambridge Equation: A Comment, Pages 421 - 432
Author: Man-Seop Park

Finance and the Cambridge Equation: Again on the Rate of Profits of Financial Intermediaries, Pages 433 - 441
Author: Giuseppe Ciccarone

The Organizational Approach of Capability Theory, Pages 443 - 453
Author: Giampaolo Garzarelli

Associative Economics Bulletin

July 2008
Associative Economic Literacy
The Associative Economics Bulletin consists of news and views on associative economics, including short extracts from Associative Economics Monthly (available electronically for 1GBP an issue at
or in a hard copy format - tel (UK) 01227 738207). To unsubscribe from this list, reply or send an email to with 'bulletin unsubscribe' in the subject line.

1. Events at The London School of Economics
2. Associative Economic Literacy - Associative Economics Monthly
July 2008
3. Research Update


We plan to continue our series of events at the London School of Economics this autumn. Each session will comprise two parts, the first being an introductory course in associative economics leading to a Diploma, the second an ongoing research group looking at current events and issues from an associative perspective.

July 2008

We have touched on financial literacy before (AEM December 2005 and AEM July 2006), but this time our spirit is one of saying “let's get on with it!”
In Air Beneath Their Wings we report on an on-going global project to research ways in which literacy in economics, business and finance can be introduced into a youth curriculum.
In Sign of the Times, Simon Jenkins shows how the problem of state intervention in education is now well enough known and ripe for fresh treatment.
The feature by Rudolf Steiner, Championing the Individual, provides wide sociological underpinning of the importance of society today celebrating rather than conditioning the individual human being. It is also an economic commentary in that the costs to society can only become greater and without any return, if the initiative of young people, linked to their enthusiasm for their own destiny, is thwarted or ignored. It does not take an economist to work out that young people who are able to serve society out of the uniqueness of their destinies cost far less than those who are not able to do so, because discouraged from doing so. The first flourish, bringing wealth to society; the second, lost in jail, merely incur costs.
This month's AE Hero provides a case in point. In that going Beyond the Bottom Line is a key consideration for the teaching of economics in high school.
Accountant's Corner treats of corporate social responsibility and the importance of it being inherent to business conduct rather than a requirement from outside.


Please contact Arthur Edwards if you would like a research update on his doctoral study of Rudolf Steiner's idea of 3 kinds of money or you would be interested to receive a pilot-study on the teaching of economics through financial literacy undertaken within various upper- school Waldorf contexts, which is part of the Centre for Associative Economics education for initiative project (see above).

Historical Materialism

Research in Critical Marxist Theory
Click here to read the contents of Volume 16 Issue 1 and Volume 16 Issue 2.

Feminist Economics

Volume 14 Issue 3  is now available online at informaworld ( ).

This new issue contains the following articles:

The crisis of care, international migration, and public policy, Pages 1 - 21
Author: Lourdes Benería

Altruism in individual and joint-giving decisions: What's gender got to do with it?, Pages 23 - 50
Authors: Linda Kamas; Anne Preston; Sandy Baum

Sources of crime in the state of Veracruz: The role of female labor force participation and wage inequality, Pages 51 - 75
Authors: Lorenzo Blanco; Sandra M. Villa

Multiple identities, multiple-discrimination: A critical review, Pages 77 - 105
Author: Kanchana N. Ruwanpura

Explorations: Time-use surveys in the south, Pages 107 - 152
Authors: Valeria Esquivel; Debbie Budlender; Nancy Folbre; Indira Hirway

Book Reviews, Pages 153 - 172
Authors: Valeria Esquivel; Debbie Budlender; Nancy Folbre; Indira Hirway

Notes on Contributors, Pages 173 - 176
Authors: Valeria Esquivel; Debbie Budlender; Nancy Folbre; Indira Hirway

Economic Sociology - the european electronic newsletter

Current Issue: Vol. 9, No. 3 - July 2008

Intervention. European Journal of Economics and Economic Policies

Vol. 5 (2008), Number 1 / Jg. 5 (2008), Heft 1
The journal: 
This issue: 
Pdf downloads of single contributions: 
Click here for detailed information.

Journal of Post Keynesian Economics

Volume 30 Number 4- Summer 2008 is now available at

This issue contains:

- Consensus versus freedom or consensus upon freedom? from Washington disorder to the rediscovery of Keynes
Mario Cedrini

- Replacing the failed Washington consensus
Jane D'Arista

- The discrete charm of the Washington consensus
Jan Kregel

- Capital controls and financial liberalization: removing the ideological bias
André De Melo Modenesi, Rui Lyrio Modenesi

- The coordination problem: expectations and inaction
Miguel A. Duran

- Alternative money theories: a G7 testing
Yannis Panagopoulos, Aristotelis Spiliotis

- Cycles and trends in U.S. net borrowing flows
Nelson H. Barbosa-Filho, Codrina Rada von Arnim, Lance Taylor, Luca Zamparelli

- Fiscal policy in a stock-flow consistent model: a comment
Bill Martin

- Is the current financial distress caused by the subprime mortgage crisis a Minsky moment? or is it the result of attempting to securitize illiquid noncommercial mortgage loans?
Paul Davidson

Levy News

July 16, 2008
Working Paper No. 538
The Buffett Plan for Reducing the Trade Deficit
Dimitri B. Papadimitriou, Greg Hannsgen, and Gennaro Zezza
In 2003, billionaire investor Warren Buffett suggested an incentive-based intervention to narrow the U.S. trade deficit, whereby import certificates (ICs) would be granted to exporting firms by the federal government and traded to importing firms in organized markets. Using the Levy Institute macroeconomic model, the authors evaluate the impact of the Buffett plan and find that it would initially raise the price of (non-oil) imports by about 9 percent and reduce the current account deficit to 2 percent of GDP more quickly than existing policies. The overall market value of the ICs would translate into greater value added for the export sector.
Although Buffett’s proposal has several advantages over other protectionist responses to the current account deficit, the authors have serious concerns that it might not work well in practice: there would be instability and uncertainty regarding the prices of the ICs; the plan would require the creation of liquid markets, including other complex financial arrangements; there could be an adverse reaction from the World Trade Organization and possible retaliation by U.S. trading partners; and there would be an increase in exporters’ profits at the expense of workers and firms in industries that rely on imported inputs.
The authors present an alternative method whereby ICs would be auctioned by the government directly to importers and the proceeds used to offset reductions in payroll taxes (a revenue-neutral plan). Their approach would reduce the financial complexities of the Buffett plan, leave the proceeds of IC sales in the pockets of workers, be less vulnerable to fraud and less costly to administer, and enhance economic growth over the short term.
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Working Paper No. 537
The Keynesian Roots of Stock-flow Consistent Macroeconomic Models: Peering Over the Edge of the Short Period
Antonio Carlos Macedo e Silva and Claudio H. Dos Santos
Neoclassical economists seem to prefer the use of long-run models to describe markets, while post-Keynesian economists tend to favor short-run models. The authors argue that stock-flow consistent (SFC) models describe short-period behaviors as well as balance sheet dynamics from one period to the next. These models are compatible with the views of John Maynard Keynes on the macroeconomic dynamics of capitalist economies, so they are ideal tools for consolidating and presenting the post-Keynesian research program as a real alternative to the dominant short-run paradigm.
The authors acknowledge that the characteristics of the three kinds of SFC model trajectories are present in the Levy Institute’s Strategic Analysis series on the U.S. economy, which is based on a macroeconomic model developed by Distinguished Scholar Wynne Godley. The lesson to be learned from Godley’s analysis is that the tracking of sectoral balance sheets under the heroic hypothesis of constant behavioral parameters allows powerful insights about what is likely to happen in the near future.
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Working Paper No. 536
Deficient Public Infrastructure and Private Costs: Evidence from a Time-use Survey for the Water Sector in India
Lekha S. Chakraborty
Using time-budget data, this paper provides new evidence on the link between public infrastructure and time allocation related to the water sector in India. The author’s work represents the first attempt to use a major macro-level time-use survey for a developing country.
Chakraborty hypothesizes that increased investment in water infrastructure will release rural women’s allocation of time to market work. She finds that arguments against gender budgeting and the notion that public infrastructure expenditures are nonrival in nature are refuted by the time-budget statistics. There is a negative relationship between infrastructure access and time allocation, and women spend much more time on unpaid work than men do. Time poverty affects income poverty, but time poverty is often overlooked when framing macro policies. Therefore, infrastructure investment using gender-sensitive policies can benefit women by allowing them to spend more time on market-oriented activities.
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Volume 18, No. 3
The Report, a quarterly newsletter, is aimed at a diverse general audience interested in policy matters. It includes interviews with prominent scholars and public officials who can provide insights into current topics of debate, editorials by Levy Institute research staff, summaries of new publications, synopses of conferences and other events, and news of the Institute and its scholars.
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International Journal of Public Policy (IJPP)

Volume 3 - Issue 3/4 - 2008
Special Issue on European Integration, Regional Growth and Cohesion
Guest Editors: Peter Nijkamp and Iulia Siedschlag

Table of Contents


Title and authors

141 - 145

European integration, regional growth and cohesion: an overview
Peter Nijkamp, Iulia Siedschlag

146 - 162

Economic geography and European integration: the effects on the EU's external border regions
George Petrakos, Lefteris Topaloglou

163 - 186

The impact of EU enlargement on European border regions
Annekatrin Niebuhr

187 - 206

Did previous EU-enlargements change the regional distribution of production? An empirical analysis of three enlargement episodes
Peter Huber

207 - 227

Economic integration in a cross border perspective: an emerging new system of production?
Andreas P. Cornett

228 - 245

Multi-level policy making in transport: the problems for border regions
Roger Vickerman

246 - 260

EU cohesion policy: the debate on Structural Funds
John Bradley

261 - 280

Ex-ante evaluation of European ICT policies: efficiency vs. cohesion scenarios
Roberta Capello, Alessia Spairani


Title and authors


Heterodox Books and Book Series

The Political Economy of European Union Competition Policy

A Case Study of the Telecommunications Industry
By Tuna Baskoy
- Published by: Routledge
- Publication Date: 24th June 2008

About the Book
In the European Union (EU), competition policy occupies a central place amongst other EU public policies and is the first truly supranational public policy regulating market competition. One of the stated objectives of EU competition policy is to prevent excessive concentration of economic power in the hands of a few. This book investigates the political economy of EU competition policy by taking the European telecommunications industry as a case study. Baskoy argues that the EU competition policy has failed to achieve its objectives of preventing excessive market concentration in the telecommunications industry over the past quarter-century. He takes the controversial view that EU competition policy foremost promotes an industrial policy that fosters the profitability of European firms. Moreover, Baskoy argues that EU competition policy is short of adequate theoretical and conceptual capacities to comprehend the working dynamics of market competition and the market behavior of firms. This exceptional book will be of interest to scholars of Politics, Economics, Business, and International Relations and Policies.
Table of Contents

1. Introduction 2. Theories of Market Competition: Towards a Theory of Dynamic Market Competition (DMC) 3. The Political Economy of EU Competition Law 4. The Political Economy of EU Telecommunications Policy 5. Implementing EU Competition Law in Telecommunications 6. EU Telecommunications Equipment and Services Market Analysis 7. Concluding Remarks.
About the Author(s)

Tuna Baskoy is Assistant Professor in the Department of Politics and Public Administration at Ryerson University.

IPE Titles by Routledge

The following IPE titles were published in June by Routledge. Please click on the links below or scroll down for more information:
International Political Economy
Beyond States and Markets
Governing International Labour Migration
To download a library recommendation form for these titles CLICK HERE

International Political Economy
Contrasting World Views

Raymond C. Miller, San Francisco State University, USA

This textbook is the perfect short introduction to the fundamental models and issues of international political economy.
The text introduces students to the three main theoretical approaches in IPE: free market, institutionalist and historical materialist. The strengths and weaknesses of the theories are then illustrated by a series of fascinating applied case studies in such core areas as international trade, finance, transnational corporations, development and the environment.

234x156: 274pp
Hb: 978-0-415-38408-7: £85.00
Pb: 978-0-415-38409-4: £22.99



Beyond States and Markets
The Challenges of Social Reproduction
Series: RIPE Series in Global Political Economy
Edited by Isabella Bakker, York University, Canada and
Rachel Silvey, University of Toronto, Canada
Exploring difficult and crucial aspects of the transnational gender politics of globalization, this book provides a unique and valuable introduction to the history of the concept of social reproduction from an inter-disciplinary perspective.

234x156: 206pp
Hb: 978-0-415-77585-4: £80.00
Pb: 978-0-415-77586-1: £22.99


Governing International Labour Migration
Current Issues, Challenges and Dilemmas
Series: RIPE Series in Global Political Economy

Edited by Christina Gabriel, Carleton University, Canada and
Hélène Pellerin, University of Ottawa, Canada

Offers a critical examination of the way in which the nature and governance of international labour migration is changing within a globalizing environment.

234x156: 256pp
Hb: 978-0-415-43368-6: £70.00


L'argent des anthropologues, la monnaie des économistes

L'ADEK vous signale la parution de l 'ouvrage "L'argent des anthropologues, la monnaie des économistes", aux éditions L'Harmattan, sous la direction d'E. Baumann, L. Bazin, P. Ould-Ahmed, P.Phelinas, M. Selim et R. Sobel, avec des articles de membres de l'ADEK. Vous trouverez ci-joint une présentation de l'ouvrage.

Qu'est-ce qui sépare la « monnaie » des économistes de l’« argent » des anthropologues ? Cet ouvrage s'inscrit dans une volonté d'élaboration collective d'une réflexion et de regards croisés entre anthropologues et économistes hétérodoxes sur la question monétaire.
Ayant pour dénominateur commun de rejeter l'approche monétaire de la théorie économique dominante qui offre une lecture essentiellement économiciste et fonctionnelle de la monnaie, les anthropologues et les économistes hétérodoxes saisissent néanmoins cette question sous des angles différents.

Cet ouvrage vise à rassembler et à comparer un certain nombre de recherches, certaines théoriques, d'autres s'appuyant sur des enquêtes de terrain variées (Chine, Ouzbékistan, Égypte, Inde, Amérique centrale et latine), d'autres enfin sur des comparaisons et des cas historiques (États-Unis, Empire ottoman). Il met ainsi en évidence que les points de contacts sont nombreux et que se multiplient les occasions de dialoguer entre les deux disciplines, dont les questionnements théoriques et méthodologiques, autrefois marqués au coin de spécificités exclusives, sont de plus en plus profondément partagés.

Economic Rights: Conceptual, Measurement, and Policy Issues

Cambridge University Press, 2007, edited by Shareen Hertel and Lanse Minkler

This edited volume offers new scholarship on economic rights by leading scholars in the fields of economics, law, and political science. It analyzes the central features of economic rights: their conceptual, measurement, and policy dimensions. In its introduction, the book provides a new conceptualization of economic rights based on a three-pronged definition:
the right to a decent standard of living, the right to work, and the right to basic income support for people who cannot work. Subsequent chapters correct existing conceptual mistakes in the literature, provide new measurement techniques with country rankings, and analyze policy implementation at the international, regional, national, and local levels.
While it forms a cohesive whole, the book is nevertheless rich in contending perspectives.

The Political Economy of Work

By David Spencer 

Against the background of increasing interest in the changing nature and quality of work, The Political Economy of Work offers a new and unique assessment of the theoretical analysis of work. The author challenges some common preconceptions about work and promotes an original approach to the field, contemplating the nature and development of ideas on work and its impact on human well-being drawing on such burgeoning literatures as the 'economics of happiness'.
Spencer approaches the subject through a careful examination of the history of thought on work over the last three hundred years. A key focus is the development of ideas on work in mainstream economics, starting with the mercantilists and the classical economists, and continuing with neoclassical economists (e.g. Jevons, Marshall). The contributions of modern approaches including the new 'information-theoretic' economics and the new 'economics of happiness' are also discussed. The author sees flaws in the depiction of work in mainstream economics and instead draws insight from the writings of critics of the mainstream paradigm, such as the nineteenth century 'utopian' writers (Godwin, Fourier, Carlyle, Ruskin, Morris), Marx, and the old institutional economists (Commons, Veblen). The alternative approach outlined in the book stresses the barriers to rewarding work under capitalism and develops a case for radical change in the organisation of work. The book cuts across different disciplinary boundaries and is likely to appeal to researchers in a number of different fields, including labour economics, labour history, the sociology of work, industrial relations, and human resource management. It will appeal to all those who wish to promote a more critical understanding of the role that work can and ought to play in society.
"What can economics tell us about work? To answer this question, David Spencer has investigated the role that work has played in economic theory, from the time of the industrial revolution till the present day. With the surprising range of perspectives he uncovers he delivers a sharp critique to modern-day neoclassical orthodoxy, and to recent theories of happiness at work. This is a deeply insightful book that should oblige labour economists and sociologists to think further about their most basic assumptions."
Francis Green, University of Kent
"Work matters! A timely and highly engaging intervention into contemporary debates on the nature of work and the so-called ‘economics of happiness’ (why we’re not as contented as we could be), Spencer shows us that another conception of work is possible."
David Harvie, University of Leicester, UK
"In The Political Economy of Work, David Spencer uniquely accomplishes three things that are difficult to do in a single text: it introduces economists to important aspects of work that have been neglected in the mainstream economics literature; introduces non-economists to important aspects of work that have been neglected in the literature on the sociology of work (broadly defined); and uses historical analysis to critically assess important examples of contemporary theory (e.g. happiness research). The result is a concise and very readable, interdisciplinary approach to the political economy of work."
Steve Fleetwood Professor of Employment Relations Bristol Business School, University of the West of England
Table of Contents
1 Introduction, 2 In the sweat of thy brow: concepts of work in pre-classical and classical economics, 3 Work contra the classical economists: pro-work sentiments in the late eighteenth century and nineteenth century 'utopian' literature, 4 The Marxian view of work, 5 From pain cost to opportunity cost: the eclipse of the quality of work as a factor in economic theory, 6 Institutional perspectives on work, 7 Mainstream economics and the hidden abode of production, 8 Conclusion
About the Author(s)
David A. Spencer is Senior Lecturer in Economics at Leeds University Business School.

The Great Deficit Debacle

Leclaire, Joëlle, 2008. The Great Deficit Debacle: Causes and Consequences of American Federal Budget Surpluses and Deficits. VDM Verlag.
ISBN: 363903077X
Over the entire post-war period the federal government has consistently run budget deficits, with one major exception, the surpluses from 1998 to 2001. What events and policy changes caused this radical change in the US budget situation? And, what happened in 2001 that pushed the budget back into deficit? These questions and more are answered by The Great Deficit Debacle. Despite the fact that in the US, a federal budget deficit is the normal situation, Presidents and Congresses typically aim for surpluses. This misguided policy goal increases the financial fragility of our economy, and recession is the natural result. This book clears up common misconceptions about what policymakers should be doing to help stabilize the economy, especially now that financial flows have become so prevalent. The Great Deficit Debacle will serve as an invaluable reference to government economists and policymakers, academic economists, and, concerned citizens who want to understand what can be done to improve the economy’s capacity to create jobs, wealth and prosperity.
Links to order: 

Heterodox Graduate Program and PhD Scholarships

MA in Political Economy (Manchester)

Course description
The MA in Political Economy programme at Manchester University offers a cross-disciplinary curriculum of study in political economy. The MA is housed in the Centre for the Study of Political Economy, which brings together the world-class research strengths in the field of political economy at Manchester University. The programme is taught from members across the Faculty of Humanities in the School of Social Sciences, the School of Environment and Development, and the Manchester Business School.
Each student will pursue their particular interests in political economy through one of four pathways:
- Theoretical Political Economy
- Political Economy of Society, Space and Environment
- Political Economy of Finance, Business and Work
- Political Economy of Development.
Each pathway offers courses drawn from across the different disciplines in the schools, offering the student an exposure to the full breadth of the field of political economy.
Module details
All students take a core module, Theoretical Approaches to Political Economy, which provides a thorough grounding in both classical and contemporary theories of political economy and introduces the basic concepts of the discipline. Students on the standard route will also take at least two core modules from their chosen pathway together with two other optional modules from that pathway. Students will also research training units in Philosophy of Social Science and Dissertation Research Design. Taught units comprise two thirds of the programme. The remainder of the programme consists of a 15000 word dissertation on a substantial issue in political economy. 


Heterodox Websites, Associations and Blogs

Heterodox Economics Group on Facebook

Post Keynesian Economics Study Group

The annual subscription in each calendar year is £25, reduced to £10 for student or retired members. The 2008-2009 subscription covers the period until 31 December 2009.
Please return this form, duly completed, by email to the Secretary of the association (secretary @ postkeynesian . net). Do not send any money until you receive an email request to do so. This request will include instructions for making payment online.


For Your Information

“Thought Control in Economics” by Tom Green

Adbusters (78, July-August 2008, )
Click here to download the paper.

An Interview with Michael Hudson

Getting to the Heart of America's Economic Crisis

Economists Papers Project

With the continued generosity of Duke University's Provost and the Chair of its Economics Department, we again note the availability of funding for young scholars to use the Economists Papers Project materials at Duke's Rare Book, Manuscript, and Special Collections Library. Individuals may apply for a grant of up to $500 (paid directly for lodgings) while using the archival collections. Individuals interested in applying for these grants while visiting Duke should visit
and follow the directions sketched there. Please direct other questions about the use of these funds to Professor E. Roy Weintraub at

Yngve Ramstad

YNGVE RAMSTAD, a longtime University of Rhode Island economics
professor and former department chair, died July 5, 2008, of complications
from ALS. He was 67.

The Rhode Island chapter of the ALS Association honored Yngve with its Brian
Dickinson Courage Award on June 12. Although Yngve was unable to attend,
more than three dozen colleagues and friends, including two from his high
school years, were present. His daughter, Kathryn Ramstad-Albert, accepted
the award on his behalf.

Yngve was born March 20, 1941, in Norway, the oldest child of Egil and
Petrine Ramstad. The family moved to the United States in 1949 when Egil
accepted a professorship at Purdue University in West Lafayette, Ind. After
high school, where he was an accomplished musician and multi-sport athlete,
Yngve earned a bachelor's degree in industrial management from Purdue
University. He worked at Gary (Ind.) Steel Works for four years and served
two years in the U.S. Army before beginning graduate school at Washington
State University, where he earned a master's degree in economics. He
received his Ph.D. in economics in 1981 from the University of California at
Berkeley and joined the URI faculty in 1982. In 1984, Yngve married Alexa
Albert, a URI professor of sociology. She died May 2, 2007.

Of his teaching, Yngve once wrote: 'My challenge has always been to keep
students engaged long enough to overcome their sense of frustration and to
discover . . . that they are interested in understanding more about . . .
the 'worldly philosophy' known as economics.'

A self-effacing gentleman, he once explained: 'Having been brought up in a
Lutheran household, I find it unbecoming for one to engage in self-praise
and am uneasy doing so.' His academic colleagues, however, effusively
praised his scholarship, especially that on John R. Commons. His book
chapters, articles and conference presentations about that renowned
authority on labor relations received international acclaim. In January
2009, Yngve's work on Commons will be the topic of a panel at the annual
meeting of the Association for Evolutionary Economics, which he once

Yngve, believing that 'it is extremely important for faculty to participate
as good citizens in matters of self-government,' served URI in a variety of
capacities, including several terms on the Faculty Senate and two years as
vice-chair; the Teaching Effectiveness Committee; a General Education Task
Force; and the Executive Board of the faculty union.

But it was his several terms on the Athletics Advisory Board, which he
chaired from 2003-2006, and his work as NCAA Faculty Athletics
Representative that Yngve most enjoyed. He made it a point to attend
athletic events of all sorts and to get to know URI student-athletes, whose
'unbelievable work ethic, self-discipline and strong competitive urge' he
frequently acknowledged.

In October 2007, many of those student-athletes, along with their coaches,
joined other URI students, faculty, staff and friends in a Walk Around the
Quad to honor Yngve and raise money (more than $10,000) for the ALS
Association. Also participating in the walk was the URI Traditional Jazz
Band, one of several groups Yngve performed with after returning to
trombone-playing in the late 1990s. He joined the Wakefield Civic Band in
1998 and ROMPS (Retired Old Men Playing Swing) in 2001, and played with both
until his illness. From 2001-2004, he also was a member of the Dixie Gents.

In addition to his daughter, Yngve is survived by two sons, David Ramstad
and Eric Ramstad, of Berkeley, Calif; his mother and brother, Tore, of Sun
Prairie, Wis.; his sister, Liv May Ramstad, of Columbus, Ohio; his
sister-and brother-in-law, Lois and Marty Stanczak, of Ocean City, N.J.;
four nephews, John Stanczak and Thomas, David and Kevin Drinan; and a niece,
Jill Halbruner.

A celebration of Yngve's life will be held on Friday, August 1, 2008 at 3
P.M. in the U.R.I. University Club, 95 Upper College Road, Kingston, RI
02881. Donations in his name can be made to the ALS Association - Rhode
Island Chapter, 1637 Warwick Avenue, Warwick, RI 02889-1525.