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Advancing the Frontiers of Heterodox Economics
This collection of essays honors the life and work of one of the most prominent and fervent heterodox economists, Frederic S. Lee, who has been at the heart of the heterodox economics movements for the past three decades. Authors in this book demonstrate that heterodox economic has transcended the criticism of mainstream economics and, more importantly, that constructive developments are in the making by way of cross-communications among various heterodox economics traditions. Frederic S. Lee’s contributions to heterodox economics are centered on three themes: the making of a history and identity of heterodox economics, heterodox microeconomics, and the heterodox analysis of social provisi...
Social Ontology and Modern Economics
Economists increasingly recognise that engagement with social ontology – the study of the basic subject matter and constitution of social reality - can facilitate more relevant analysis. This growing recognition amongst economists of the importance of social ontology is due very considerably to the work of members of the Cambridge Social Ontology Group. This volume brings together important papers by members of this group, some previously unpublished, in a collection that reveals the breadth and vitality of this Cambridge project. It provides a brilliant introduction to the central themes explored, perspectives sustained, insights achieved and how the project is moving forward. An initial ...
Economic Methodology, History and Pluralism
Economic Methodology, History and Pluralism: Expanding Economic Thought to Meet Contemporary Challenges pays tribute to Emeritus Professor Sheila Dow (University of Stirling, Scotland). This volume focusses on the contributions of Dow to economic methodology, pluralism and the history of economic thought. These explorations serve to underpin her ideas and theories on macroeconomics, banking and money. Bringing together an impressive panel of contributors, the chapters in this work examine Dow’s writings on structured pluralism and schools of thought, meanings of open and closed systems, reflections on the relationship between economics and other sciences (both social and natural), the meth...
Challenging the Orthodoxy
Political economy focuses on issues that are fundamental to individual and collective well-being and rests on the proposition that economic phenomena do not occur in isolation from social and political processes. One leading Australian political economist is Frank Stilwell. Highlights of his work include concerns with the creation and use of wealth, inequalities between rich and poor, the spatial implications of economic growth, and the tensions between economic growth and the environment. Stilwell has been especially prominent in developing alternative economic policies, with seminal contributions to understanding the radical shift in Australian economic and social policies since the early 1980s. He has also been a leader in the teaching of political economy to many cohorts of first-year university students. This collection, spanning these themes, honours Stilwell’s contribution to Australian political economy after more than 40 years teaching at the University of Sydney. The book provides not only an opportunity to appreciate his contribution but also a greater understanding of these themes which remain of crucial contemporary relevance.
Is There a Future for Heterodox Economics?
'Hodgson's masterful review of orthodoxies and heterodoxies focuses on the absurdity of recommending planning, or scorning it, without answering the empirical question asked in the 1930s by the ''socialist calculation debate.'' How well does planning or the market work? Idealism assumes the answer without actually doing the science. - Deirdre N. McCloskey, University of Illinois at Chicago, US 'Every young heterodox scholar should read this book, as should veteran heterodox economists who are puzzled about why important heterodox contributions have not had the impact they deserved to have. The book provides a compelling account of the challenges that heterodox economists have faced, and cont...
Contemporary Post Keynesian Analysis
Original articles by leading scholars of post Keynesian economics make up this authoritative collection. Current topics of the greatest interest are covered, such as: perspectives on current economic policy; post Keynesian approaches to monetary theory and policy; economic development, growth and inflation; Kaleckian perspectives on distribution; economic methodology; and history of heterodox economic theory. The contributors explore a variety of prevailing issues including: wage bargaining and monetary policy in the EMU; the meaning of money in the internet age; stability conditions for small open economies; and economic policies of sustainable development in countries transitioning to a market economy. Other enduring matters are examined through the lens of economic theorists - Kaleckian dynamics and evolutionary life cycles; a comparison between Keynes's and Hayek's economic theories; and an analysis of the power of the firm based on the work of Joan Robinson, to name a few. Students and scholars of post Keynesian economics and those with an interest in other heterodox schools of thought will find this enlightening volume a valuable addition to their reading.
Challenge Magazine
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The Cult of Statistical Significance
“McCloskey and Ziliak have been pushing this very elementary, very correct, very important argument through several articles over several years and for reasons I cannot fathom it is still resisted. If it takes a book to get it across, I hope this book will do it. It ought to.” —Thomas Schelling, Distinguished University Professor, School of Public Policy, University of Maryland, and 2005 Nobel Prize Laureate in Economics “With humor, insight, piercing logic and a nod to history, Ziliak and McCloskey show how economists—and other scientists—suffer from a mass delusion about statistical analysis. The quest for statistical significance that pervades science today is a deeply flawed ...
