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Contemporary Issues in Heterodox Economics
Heterodox economics can provide a more complete and robust explanation of economic realities than orthodox (or mainstream) economics. Contemporary Issues in Heterodox Economics: Implications for Theory and Policy Action argues that this greater explanatory power gives heterodox economics the ability to illuminate appropriate policy for the major crises of our time, as well as proffer the basis for a more rounded, pluralist approach to economic theory. The chapters in this wide-ranging volume address some of the key issues facing the global economy, including the growing disparity of income/wealth between persons and economic areas, environmental degradation, issues associated with employment...
Evolutionary Political Economy in Action
The world is in turmoil, the dynamics of political economy seem to have entered a phase where a ‘return to normal’ cannot be expected. Since the financial crisis, conventional economic theory has proven itself to be rather helpless and political decision makers have become suspicious about this type of economic consultancy. This book offers a different approach. It promises to describe political and economic dynamics as interwoven as they are in real life and it adds to that an evolutionary perspective. The latter allows for a long-run view, which makes it possible to discuss the emergence and exit of social institutions. Evolutionary Political Economy in Action consists of two parts. Pa...
Varieties of Economic Inequality
Recently, the issue of inequality has regained attention in economic and political debates. Although this interest is welcome, the debate is still mostly focused on income or wealth distribution, which is an important aspect but does not present a complete view of inequality. Most of the theoretical and empirical studies produced by economists concern personal income distribution or factor income distribution. This is more evident in the studies of the evolution and characteristics of contemporary capitalism and globalization. Varieties of Economic Inequality considers both theoretical perspectives and empirical evidence of aspects such as income, gender, race, technology, power, region, edu...
Horizontalists and Verticalists
This anniversary edition of Basil Moore’s classic work features the original text along with an extensive new introduction and foreword. Providing much of the theoretical foundation on which post-Keynesian endogenous money and Modern Monetary Theory were subsequently developed, this seminal work continues to challenge the validity of much of mainstream monetary macroeconomics. Basil Moore argues that the money supply in modern economies is not under the control of central banks, but is determined by borrower demand for bank credit. In his analysis, Moore distinguishes sharply between commodity, fiat, and credit money, arguing that much of mainstream macroeconomic theory is not appropriate ...
Advancing Pluralism in Teaching Economics
The complex economic problems of the 21st century require a pluralist, real-world oriented and innovative discipline of economics that is capable of addressing and teaching these issues to students. This volume is a state-of-the-art compilation of diverse, innovative and international perspectives on the rationales for and pathways towards pluralist economics teaching. It fosters constructive controversy aiming to incite authors and commentators to engage in fruitful debates. This volume addresses a number of key questions: Why is it important for a social science to engage in pluralistic teaching? What issues does pluralist teaching face in different national contexts? Which traditions and ...
Principles and Pluralist Approaches in Teaching Economics
This volume is a state-of-the-art compilation of diverse and innovative perspectives, principles, and a number of practiced approaches of fields, courses, and methods of pluralist economics teaching. It fosters constructive controversy aiming to incite authors and commentators to engage in fruitful debate. The complex economic problems of the 21st century require a pluralist, real-world oriented, and innovative discipline of economics, capable of addressing and teaching those complex issues to students from diverse perspectives. This volume addresses a number of key questions: Which models could be taught outside the equilibrium and optimality paradigm? Which methods could help to improve ou...
Beyond Fads and Magic Bullets
The history of development economics has been portrayed as a succession of fads and magic bullets. This study inquires whether behavioural approaches to economic development are destined to become such a fad or whether they have long-lasting contributions to offer. To be considered a successful program, behavioural approaches should advance our theoretical understanding of development processes and improve the quality and effectiveness of policy recommendations. I argue that behavioural development economics is not yet a cohesive field with a consensual definition and that different directions may be taken. Whether behavioural development economics will be able to deliver on the goals depend...
