Heterodox Economics Newsletter
Editor: Frederic S. Lee, University of Missouri-Kansas City, E-mail: leefs@umkc.edu
Book Review Editor: Fadhel Kaboub, Drew University, E-mail: fkaboub@drew.edu
Assisted by Ergun Meric, University of Missouri-Kansas City
Newsletter 82
From the Editor
This past March 2009 Jacob T. Schwartz died. This name probably has no meaning from
most heterodox economists. But in 1961 he published a book on Lectures on the
Mathematical method in Analytical Economics which contained a section on ‘The
Leontief Model and the Technological Basis of Production’ (click here for the section).
For heterodox economists in the 1960s/70s who were interested in Sraffa-Leontief
models (and most were), Schwartz’s section contained some very interesting reading, if
only because it dealt with a theory of prices, a topic not usually associated with Leontief
models.
Fred Lee
Call for Papers
The EAEPE 2009 Conference will be organized in Amsterdam from 6 until 8
November.
The European Association for Evolutionary and Political Economy is an
active scholarly association in the area of institutional economics
broadly conceived.
The deadline for submitting abstracts has been extended to May 18 2009.
The theme of the 2009 conference is Institutional Solutions for
Economic Recovery.
One of the most challenging themes for institutional economists and
social scientists is to explain the economic situation of today and to
offer solutions for economic recovery. In the 20th century
institutional economists have been at the forefront in describing and
explaining business cycles and growth. In the 21st century the present
generations will need to revisit some of this legacy and confront this
with newer observations. For the time being many questions abound:
What changes in the institutional environment, the institutional
arrangements, and in the norms and customs of people will lead to
economic growth? What is the role of investments in knowledge,
innovations, and entrepreneurship in creating these institutional
improvements? Which improvements in the financial institutions can
contribute to an economic recovery?
The 2009 conference of EAEPE in Amsterdam will address, in a broad
sense, such questions and will contribute to the debate on economic
1
recovery, through a multidisciplinary, institutional and evolutionary
perspective.
All papers related to this conference theme or to the EAEPE research
areas are invited.
Paper proposals (600-700 words) can be uploaded on the EAEPE website
(www.eaepe.org) until May 18, 2009 and should mention:
•
title of the paper
•
name and address of the author(s)
•
the aim of the study and methodology
•
(expected) results and/or conclusion
•
up to 5 keywords
•
whether you submit an abstract for the conference theme, a
research area or the PhD session.
Please visit www.eaepe.org to upload a paper proposal.
Selected papers will be notified before June 15, 2009.
More information on the conference theme and the conference venues can
be found on the EAEPE website: www.eaepe.org.
CALL FOR PAPERS
International Workshop
The Critique to Political Economy in 19th Century. Part II: Pierre
Joseph Proudhon Verona 16-19 September 2009
The first workshop held in Zaragoza in September 2008 explored the
complex
network of relations that characterised the relationship between
utopian
thought and economic policy from the late eighteenth century to the
first
half of the nineteenth century. The second workshop on September 16-19
at
the University of Verona will focus on Pierre Joseph Proudhon on the
second
centenary of his birth. The French thinker challenged economic policies
and
sought to build a new type of social science, one no longer based on
metaphysical and Œtheological¹ principles. What Proudhon wished to see
was a
model capable
of keeping pace with the historical transformations of economic and
social
reality.
"I affirm the reality of an economic science...I affirm, on the other
hand,
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the absolute certainty as well as the progressive nature of economic
science, of all the sciences in my opinion the most comprehensive, the
purest, the best supported by facts: a new proposition, which alters
this
science into logic or metaphysics in concreto, and radically changes
the
basis of ancient philosophy." (J.P.Proudhon)
During his intellectual journey, Proudhon was critical of what he
considered
the analytical distortions of economic policies; similarly, he
condemned the
supporters of utopias who, on the basis of an abstract idea of
egalitarianism and social justice, provided an inadequate
interpretation of
the economic and social phenomena of modern capitalist society.
Proudhon¹s
influence was significant and his ideas inspired widespread discussion
on
themes ranging from the annals of economics and sociology to political
and
institutional transformation, with interesting international
ramifications.
Papers would be particularly welcome on various aspects of Proudhon¹s
thought in relation to the social and economic context of his day, on
specific aspects of his thought or the reception of his ideas, on his
interpreters, critics and followers, in Europe or overseas.
Please submit titles and 300 word abstracts no later than 15 May 2009
to:
segreteria@proudhonverona.eu.
Replies will be given by 15 June 2009.
www.//http.proudhonverona.eu
Scientific committee:
Gilbert Faccarello, Université Pantheon-Assas (Paris II)
Vitantonio Gioia, Università di Lecce
Alfonso Sànchez Hormigo, Universidad de Zaragoza
Sergio Noto, Università di Verona
HOW CLASS WORKS - 2010
A Conference at SUNY Stony Brook
June 3-5, 2010
CALL FOR PRESENTATIONS
The Center for Study of Working Class Life is pleased to announce the How
Class Works – 2010 Conference, to be held at the State University of New
3
York at Stony Brook, June 3 - 5, 2010. Proposals for papers, presentations,
and sessions are welcome until December 14, 2009 according to the
guidelines below.
Purpose and orientation: The conference seeks to explore ways in which an explicit
recognition of class helps to understand the social world in which we live, and ways in
which analysis of society can deepen our understanding of class as a social relationship.
Presentations should take as their point of reference the lived experience of class;
proposed theoretical contributions should be rooted in and illuminate social realities.
Presentations are welcome from people outside academic life when they sum up social
experience in a way that contributes to the themes of the conference. Formal papers will
be welcome but are not required. All presentations should be accessible to an
interdisciplinary audience.
Conference themes: The conference welcomes proposals for presentations that
advance our understanding of any of the following themes.
The mosaic of class, race, and gender. To explore how class shapes racial, gender, and
ethnic experience and how different racial, gender, and ethnic experiences within various
classes shape the meaning of class.
Class, power, and social structure. To explore the social content of working, middle,
and capitalist classes in terms of various aspects of power; to explore ways in which class
and structures of power interact, at the workplace and in the broader society.
Class and community. To explore ways in which class operates outside the workplace in
the communities where people of various classes live.
Class in a global economy. To explore how class identity and class dynamics are
influenced by globalization, including experience of cross-border organizing, capitalist
class dynamics, international labor standards.
Middle class? Working class? What's the difference and why does it matter? To
explore the claim that the U.S. is a middle class society and contrast it with the notion
that the working class is the majority; to explore the relationships between the middle
class and the working class, and between the middle class and the capitalist class.
Class, public policy, and electoral politics. To explore how class affects public policy,
with special attention to health care, the criminal justice system, labor law, poverty, tax
and other economic policy, housing, and education; to explore the place of electoral
politics in the arrangement of class forces on policy matters.
Class and culture: To explore ways in which culture transmits and transforms class
dynamics.
Pedagogy of class. To explore techniques and materials useful for teaching about class,
4
at K-12 levels, in college and university courses, and in labor studies and adult education
courses.
How to submit proposals for How Class Works – 2010 Conference
Proposals for presentations must include the following information: a) title; b) which of the eight
conference themes will be addressed; c) a maximum 250 word summary of the main points, methodology,
and slice of experience that will be summed up; d) relevant personal information indicating institutional
affiliation (if any) and what training or experience the presenter brings to the proposal; e) presenter's name,
address, telephone, fax, and e-mail address. A person may present in at most two conference sessions. To
allow time for discussion, sessions will be limited to three twenty-minute or four fifteen-minute principal
presentations. Sessions will not include official discussants. Proposals for poster sessions are welcome.
Presentations may be assigned to a poster session.
Proposals for sessions are welcome. A single session proposal must include proposal information for all
presentations expected to be part of it, as detailed above, with some indication of willingness to participate
from each proposed session member.
Submit proposals as hard copy by mail to the How Class Works - 2010 Conference, Center for Study of
Working Class Life, Department of Economics, SUNY, Stony Brook, NY 11794-4384 or as an e-mail
attachment to <michael.zweig@stonybrook.edu>.
Timetable:
Proposals must be received by December 14, 2009. Notifications will be mailed on
January 19, 2010. The conference will be at SUNY Stony Brook June 3- 5, 2010. Conference registration
and housing reservations will be possible after February 15, 2010. Details and updates will be posted at
http://www.workingclass.sunysb.edu.
Conference coordinator:
Michael Zweig
Director, Center for Study of Working Class Life
Department of Economics
State University of New York
Stony Brook, NY 11794-4384
631.632.7536
michael.zweig@stonybrook.edu
##
CONFERENCE ANNOUNCEMENT / CALL FOR SPEAKERS AND PAPERS
Green Economics Institute
Progressive economics.
Reclaiming Economics for all people everywhere, nature
other species, the planet and its systems
In association with Ashgate Academic Publishing, Gower Management Books, Pluto Books, Inderscience Publishers of academic
journals and CIPS Chartered Institute of Purchasing and Supply and The International Journal of Green Economics and Purchasing
and Supply Management Ltd., Green Economics Institute Brazil, Campinas University Brazil, and Green Economics Institute Nigeria.
5
A Green Economics Conference
The clash between Ecology and Economy
Greening the Economy,
Explanations, causes and answers to the current crises:
the climate, biodiversity, mass species extinction,
commodity fluctuations, poverty, and the credit crunch?
Intergenerational and intragenerational equity, pensions
Our women's unequal pay and poverty project stream,
social justice, long termism in economics
Systemic,practical and theory change in economics
at
Mansfield College, Oxford University
4th Annual Green Economics Conference N
Friday 31 July to Saturday 1 August 2009
Including:
Green Procurement and the Greening of Business.
Other streams include:
Carbon Reduction and Climate Change, Women and Poverty, Lower
Growth Economics, Biodiversity and Species Loss and the Economics of
saving the rainforests. REDDs? Green Markets. How Kyoto works.
Philosophy of economics- What can Aristotle teach us now?
Finance, Food and Fuel?
Keynsianism Kick starts, or Greening, Growth as in nature, abundance and
Greater Equity?
6
Instruments, tools and Green Economics Methodology for radical
change and real progress in Economics AL
L FOR PAPERS
INVITATION
This Conference will follow the tradition of the Annual Green Economics Conferences
which are the world's leading Conference series in Green Economics. Internationally
renowned composite, multidisciplinary, scientists, economists, campaigners, Policy
makers and Directors, Professors Social scientists and Researchers from all over the
globe continue to attend the very popular Green Economics Series, and to present their
frontier research findings and to keep up to date with latest achievements and
developments in this very fast moving and leading and topical field.
A main theme of the Conference will be "Green Economics, Greening the Economy- long
and short term solutions to the the credit crunch- finance, food issues- biofuels and landfuel- challenges- and the 6th ever mass species extinction on earth. Green Economics
views the current downturn as a clash between ecology and economy and argues that the
commodity instability is a symptom the exhaustion of natural resources. The markets are
correctly reflecting that and are indicating that traditional economics instruments and
derivatives are however no longer any use, and new methods of creating a natural
economics of abundance need to be urgently developed. The world has changed and
Green Economics is an economics which is comfortable with long termism- equity,
climate issues and biodiversity costs and poverty prevention, and which has been waiting
to take the mantle and that time has now arrived!
We look forward to welcoming you to Oxford University, one of the most beautiful cities
in the world with outstanding, exciting and famous atmospheric Conference facilities
excellent travel connections and accommodation.
Miriam
Director
Green Economics Institute www.greeneconomics.org.uk
Editor
International Journal of Green Economics
Kennet
CALL FOR SPEAKERS
Speakers already confirmed for 2009:
Keynote speakers:
Professor Graciela Chichilnisky Columbia University, New York, Professor of Economics, and
Mathematics. Architect of the UN Kyoto Protocol carbon market and Lead Author : Of the Nobel
prize winning IPCC Report.
Dr Joseph Halevi -Australia, author Univerisite de Nice and Sydney University talks abouteconomics policies and green solutions to recession. Speaker at the University of Grenoble Pierre
7
Mendès France and by the Université de Nice. 1997 - 1999 Professor at the University of
Grenoble in charge of a multilingual Masters program in international commerce. In 1998 he was
appointed by France’s Ministry of Scientific Research as a member of the national selection
committee for the recruitment of full professors. Member of the international editorial board of
Economie Appliquée (Paris) and of the editorial board of Cahiers d'Economie Politique (Paris).
Associated to the CNRS’s (France’s National Research Council) centre IREPD (Institut de
Recherches Economiques sur la Production et le Développement) at the University of Grenoble.
Since 1990 he has been a regular contributor to the Italian Leftwing daily Il Manifesto in Rome.
Candice Stevens
Former OECD Sustainable Development Advisor.
Speaks about Sustainable Response to the Financial Crisis.
And on Gender and Sustainable Development work at the OECD
Womens Unequal Pay and Poverty- counting the costs of excluding
women from our economy, our society, our business.
Sophie Christopher Bowes Eco Planner Oxford Ethical Business Club
Christine Haswell Public Services Union
Jennifer Goldstein London School of Economics
Sarah Turnbull HIPPs Assessor and Home Energy Conservation Assessor
Jenny Wardle Phsycotherapist
Wendy Olsen Economist Manchester University
Maria Ioacovou University of Essex- Basic Income
Natalie Bennet- Reassessing Womens role in the Green Movement
Priscilla Alderson Young Peoples Rights
Helen Clegg Women in Large corporations- how to survive and prosper
Fatah Mari Action Aid Pakistan
Miriam Kennet The importance of a gender analysis at the core of economics reform and
economic recovery
Niamh Beirne- Revisioning our role in the world
8
Holly Snape The effect of our buying decisions on migrant women in China
Clare Cochrane – Womens Budget Group Chair- Progress in the techniques of budgeting for
women.
Naomi NcAuccliffe Amnesty International Campaign Manager
Michele Goldberg Hackney Womens Forun
Mick Taylor Women as entrepreneurs
Grimot Nane- Challenging analyses and tools of gender roles in academia and campaigning
and politics
Sue England Women and their pensions
Selena Pall Lawyer – Dexter Montague Reading, UK, Womens rights and human rights
Polly Higgins of Wise Women. Polly noticed how even Green events often have all male
platforms -making them feel like mainstream economics events. She has set up a database of
women environmental and social issues speakers.
Methodology for measuring womens contribution to the economy and how its analysed speakers
from the University of Perth. Anusha Mehendran. ( to be confirmed).
Agriculture Food and Poverty
Socio-economic and environmental benefits of direct seeding of wheat in Sétif high plains (north
east of Algeria) Dr M. Fenni, Laboratory of Valorisation of Biological and Natural Resources,
Faculty of Science, University Ferhat Abbas, Sétif 19000, Algeria.
The Economics of Climate change
Dr Craig Duckworth Analysing possibilities for the Stern Review - London Metropolitan
Business School, Business Economics
Dr. Pushkala Lakshmi Ratan Singapore 'The Economics of Energy and Climate Change'
specifically pertaining to case studies on carbon reduction economics for renewable energy
projects. Essentially, CER revenues play a role in the financing of renewable energy projects.
9
However, there is an argument on whether the benefits are marginal or can in fact make an
unviable project viable.
Dr. Pushkala Lakshmi Ratan Singapore Wind economics
Miriam Kennet
The Plane Versus Train Controversy Debate
Professor Mayer Hillman Institute of Policy Studies discusses transport and aviation and the
damage aviation is doing to the climate: are more radical solutions necessary? Author numerous
books in a discussion with visitor:
Richard North CEO Eurostar-Debates with Mayer Hillman Plane versus Train
Greening of business
Focus on Norway and Sweden
(Being confirmed)
Dag Seierstad, WWF Director Norway and Member of Oxford University Environmental
Change Institute.
Sovereign Wealth Fund of Norway, Investment and spending at a cross roads, strategic or
tactical use of large sovereign wealth funds?
Knowledge Based Economy- The missing element in the West? Is this the missing link
to sustainability?
Hans Kåre Director Knowledge Based Economy Programme, Tekna, Scientific and
Technical, Engineering Employees Union of Norway.
Producing value through a knowledge based society. Is the credit crunch the result of lack
of knowledge development and investment in the West?
Valter Mutt, Greens in the Swedish Parliament- International Journal of Green Economics
Editorial Board, Green Library Project explores the role of libraries and books in the
change needed to a green economy and discusses his on going work on the project
Dr Rachel Curzon 'Perceptions of stakeholder engagement - just what is it really?'
Enrico Tezza International Labour Organisation, and International Journal of Green
Economics Journal, Editorial Board, Turin
Luc Barbier, Senior Vice President, Global Portfolio Development & Industry Analyst
10
GC&SI,P&I, Atos Origin France, Greening of IT ( being confirmed)
Green IT and Hi Tech
Shiu-Wan Hung, Professor
Department of Business Administration, National Central University Tawian,
Exploring the Operating Efficiency of Semiconductor Industry by a Sustainable Development
Approach
Paula Graham Fox Boss
Project Oekonux researches the economical, political and social forms of Free Software and
similar forms of production called peer production. Different people with different reasons and
different approaches get together to build something new. Peer production can serve as a
basis for a new society.
Miriam Kennet talks about Green IT and The Green Economics Institutes forthcoming book with
Gower Management Publishing and Ashgate Academic Press on Green IT and Hi Tech with
Douglas Watson of Carpe Diem Satellite Communications specialist, formerly Motorola, Ericson
Telecoms Director and Inmarsat Satellite Systems
Julian Lewis CEO of Positive Computing, co author of our GEI Green IT book
David Hammerstein Green MEP Spain and Innovation specialist
Gareth Roberts Participation in Green IT and Hi Tech (Being confirmed)
T
Rakesh Kumar Senior Vice President Research Gartner Global
im The development and implementation of Green Accounting ( all
Green accounting speakers currently confirming )
Sanjeev Sanyal , Dehli, India and St Johns College, Oxford University, Deutsche Bank
India and UN TEEB Project Costs of Biodiversity, and Green Accounting for India, GIST
Organisation. London School of Economics Expert Economist.
Joaquin Garcia Martin Professor of Accounting, University of Alicante speaks about
sustainable accounting
Dr Zhang Ying: Beijing School of Economics and Forestry : Forest Accounts: a Case
Analysis in China
Tony Greenham Green Economics Institute and ICEAW
11
Richard Hancock Green Economics Institute and ICEAW
Constance Crawford Green Accounting New Jersey USA “In the midst of economic
disaster, can the United States still care about Green Accounting?....Which is more
important a sustainable economy or a sustainable environment?”
Graeme Hobbs BNI Reading and Green Economics Institute ACCA
Professor Philip Talbot University of Birmingham specialist in Green Accounting
Volker Heinemann Green Economics Institute Founder and Director ICEAW and Auditor
Steven Mandel University Birmingham Research Associate, International Finance
This section will form the basis of a book on Green Accounting with Ashgate Academic
Publishers and Gower Professional Management Books
Focus on Spain
Dr Pablo Martinez de Anguita Ph.D. Director of the “Latin-America research network.
University of Madrid
Research to establish a payment method for environmental services”
David Hammerstein Green MEP Spain
The role of Green Economics and Green Innovation as progress and innovation
Roberto García Trujillo University of Córdoba, Spain:
Sandra Ríos Núñez, University of Córdoba, Spain:
Daniel Coq Huelva University of Seville, Analysis of organic livestock in ANDALUSIA.
The role of agri environmental measures in the construction of sustainable production processes,
12
Javier Panta Camitito Green IT University of Alicante ( being confirmed )
Jose P Gascon Green IT University of Alicante ( being confirmed)
Joaquin Garcia Martin Professor of Accounting University of Alicante speaks about
sustainable accounting
Focus on Africa
Sena LOUKA Executive Director Jeunes Volontaires pour l'Environnement
Casablanca, Lomé, Togo, The social dimensions of climate change in Africa
and organiser of the Renewable Energy event in Lome Togo, reports on progress in Green
Economics in Togo. And world bank projects around climate change
Ngou Bertran Espace Verts,Cameroon
BIODIVERSITY CONSERVATION AND LIVELIHOOD IN RURAL AREAS; case study: the
Wet Savannah region of Cameroon.
Dr Susan Canney, Biodiversity and Ecology and GIS, Oxford University, a conservation ecologist
researched in a range of African and Asian countries, including elephants in Mahli, and in
Romania, the USA and in the UK with Sir Crispin Tickell at the Green College Centre for
Environmental Policy and Understanding at Oxford. She has Masters degrees in Natural Sciences
(Cambridge),Environmental Policy (Lancaster), Landscape Design (Sheffield); and a Dphil from
Oxford in using remote sensing and GIS to investigate savanna ecology and human
impact in the Mkomazi Game Reserve, Tanzania. Her interests include the intersection
between international conservation, human development, and environmental values; and
their relation to global ecology. Susan was an Environmental Change Institute Teaching Fellow
2004-5 She is one of the Reconnections team at Forum for the Future.
Olanrewaju Sanni The impact of climate change on Africa
Ola Femi from Nigeria
Building and sustaining Green Economics Studies in Nigerian Universities
Focus on Bangladesh
Syful Islam Reporter in Bangladesh, How Bangladesh, one of the very worst affected, is facing
climate change
( being confirmed)
13
Well being
Marion Winslow, UKCP Psychotherapist and Quaker, how to centre oneself in facing challenges
Dr Arturo Hermann, Italy, Green Economics, discusses the Interrelations between markets,
institutions and policies, drawing his institutional and psychoanalytical analysis of the market.
The links between Institutional Economics and Economics Education, with a special focus on the
advantages of this more comprehensive Green Economics approach for both theory and policy
action.
Author: Institutional economics and psychoanalysis: how can they collaborate for a better
understanding of individual -society dynamics?
New visiting speakers:Nic Sore - Innovation in Green Economics UK
Pushkala Ratan (being confirmed ) Singapore
Peter McManners Author and Sustainability Specialist, Adapt and Thrive UK
Simon Roberts Uk Arup Consulting Partners talk about the Ecco Model and their methodologies.
Dr Larry Brownstein Socio Biologist University of Leeds – speaks about energy and geothermal
energy
Thinley Wangdi a Forester from Bhuttan
Jamie Hertzel Founder Ethical Property Company UK and Belgium
The future of charities and the sector in general in light of the recession.
Henry Cox Engineer and formerly working in Assam in India – Senior Citizen 's experience and
"Green Economics, green economies, food and wood (materials)". "Sunlight the basic renewable source
mainly harnessed by growing plants on land, hence more a 'citizens land entilement' than the urban
"citizens income" which would reduce as the cities disperse".
Stephen Plowden Traffic speed. This is an example of a subject where there is NO clash between
ecology and the economy. Why reducing traffic speed is the crucial reform required in transport planning;
what speed limits would be appropriate on roads of different classes; how best to enforce speed limits.
14
Peter Meakin South African Property Rights and Land Value Tax ( being confirmed)
Anantha Sundararajan Vice President HSBC Chicago USA -Quantitative Modeling for CreditRisk
Nigel Miles
“REDD…reducing the effect of deforestation and forest degradation….a fundamental realism and the steps
forward for humanity to act to resolve galloping climate change”.
Jenny Wardle – UK, Leader of Change Forums – speaking about creating change
Dr James Lawson Staple Chains and Commodification, Procurement and power. Department of
Politics, University of Victoria, Canada.
Sanjeev Sanyal , Dehli, India and St Johns College, Oxford University, Deutsche Bank India and
UN TEEB Project Costs of Biodiversity, and Green Accounting for India, GIST Organisation.
London School of Economics Expert Economist.
Effie Kesidou, and Pelin Demirel , Business School, University of Nottingham, UK
Profiling the
Eco-Innovators: Empirical evidence from the UK
RobertKudlack, Institute of Socio-Economic Geography and Spatial Management
AdamMickiewicz University of Posnan, Poland Do environmental management systems lead to
better economic performance? An empirical analysis of cost reductions in enterprises in Poland?
Dr Jean Boulton Visiting Fellow, Cranfield School of Management, Visiting Lecturer, Bath School of
Management writes about complexity theory and will give an overview of complexity economics
and its implications for future policy
Peter Birt Reading Costs of nuclear power and nuclear activities Can we afford it in the
current economic climate ?
Ivo Mulder Netherlands Triple E Economy Ecology Experience
Clare Fauset of Corporate Watch UK, Technology,climate change and the crazy logic of
economic growth and capitalist expansion
15
Green Procurement and Green Supply Chains
Tarig Khidir Eltayeb & Suhaiza Zailani, School Of Management, Universiti Sains Malaysia:
Outcomes of Green Supply Chain among Certified Companies in Malaysia,
David Rabey Director DEFRA UK Government Procurement speaking on Sustainable Supply
Chains, myth or necessity
Green Economics Institute Advisory and Editorial Board Speakers:
Fateh Mari Action Aid Pakistan
David Rabey Director DEFRA UK Government Procurement speaking on Sustainable Supply
Chains, myth or necessity
Professor Jack Reardon USA Economics Editor of International Journal of Economics Education
Professor Gustavo Sanchez -Economics University of Mexico -micro economics models in Green Economics
Dr Maria Iacovou Institute for Social and Economic Research (ISER),University of
Essex,Colchester UK
Using UK data with the EUROMOD microsimulation model, this paper calculates and compares
the costs and distributional effects of (a) conventional Citizens Income systems at different levels
of payment, and (b) modified systems under which couples receive a level of benefit lower than
twice the benefit payable to a single person.
Dr Iacovou will also lead a round table discussion, “Green Keynsianism- Oxymoron or not?”
Tony Juniper recent Head of Friends of the Earth, Now The Princes Rainforest Trust, Author and
specialist ornithologist, talks about Rainforests. Author: numerous books
Ben Haworth Birkbeck College, London University, 10 000 years of human energy economics
Sarah Skinner Birkbeck College, Solar Energy Futures: distributed energy in the UK,
Ian Chambers Director Orange, discusses business and Green Economics and promotes his
new book: Plan for the Planet
Victor Anderson PPE Oxford University, UK, Senior Economist at the Sustainable Development
Commission, former researcher House of Commons on policy for Plaid Cymru, former London
Assembly Member elected. Originator of the UK governments policy research into Redefining
Prosperity which has been quoted in the New Scientist November 2008. He is author of Alternative
economic indicators, Routledge, London, (1991) 106 pp. Author of books on energy and on
economic indicators and other articles on economics. Victor discusses the Collision between
16
Ecology and Economy
Maret Meritsar Green MP Estonia, "Costs of Climate Change, on women's salary levels in
Estonia
Professor of Economics, Jack Reardon Hamline University USA Author Pluralist Economics
Teaching and Pedagogy. Routledge
Miriam Kennet Director Green Economics Institute, Editor International Journal of Green
Economics, author of numerous articles, member Mansfield College Oxford University and
Environmental Change Institute Oxford University.
Volker Heinemann, Uk and Germany, Director Green Economics Institute, Geottingen, Kiel and
Nottingham University, author Oekonomie der Zukunft. Auditor and accountant
Dr Jeff Turk Phd Cern Particle physicist and European economist from Slovenia based in
Brussels, Head of Research Green Economics Institute, discusses how main stream economics
textbooks don't answer today's pressing issues. Methodology questions in economics.
Sessions will be led by leading experts with topics including:
Credit Crunch Green Solutions

The clash between ecology and economy

Commodification of basic needs : instability and fear and the precautionary principal

Social unrest and uncertainty in a time of change

The dangers of protectionism ? How it connects to nationalism

Avoiding protectionism

Diversity and internationalism

Avoiding the “ dark side of globalisation “
The Greening of Business

Progress in Green Accounting

Green IT

Green Procurement and green supply chains with the Chartered Institute of
17







Purchasing and Supply CIPS
Greening of business
Green Logistics
Green Supply Chains, Reusing Recycling, repairing
The corporate track record-how do we change the dialogue- CSR stakeholder theory
and green economics
avoiding corporate power abuse and democratic deficits
our own power for creating positive change -yes we can !
Avoiding inertia and a feeling of powerlessness




Green IT and Green Technology, Innovation
Climate change and the crazy logic of economic growth and capitalist expansion
Clare Fawcet Corporate Watch talks about her new report


David Hammerstein Green MEP Spain talks about the role of Green Economics and
Green Innovation as progress and innovation


Miriam Kennet talks about Green IT and our forthcoming book on Green IT and Hi
Tech with Douglas Watson Founder of CEO of Carpe Diem Satellite
Communications specialist, and Julian Lewis Founder and CEO of Positive
Computing

Poverty Prevention- Social Justice

Poverty prevention

Equal rights

Poverty as gender issue

Equal pay, equal opportunity

Land dilemmas for food or fuel

Meeting basic needs

Social equity- environmental refugees

Gender equity

Minority equity

social support

Basic income and Citizens Income

formal and informal economies

Women and poverty
Unequal pay
Poverty as gendered issue

The economics of energy and climate change

Solar PV implementation

Energy in Estonia

Lower Carbon Economics

Renewable Energy Industry
18

Carbon reduction economics
Panel discussing aviation
No flight pledge and its role in creating change
rail travel – how can we make it more user friendly and more practical ?
Alternatives to travel – using IT ?
The economics of biodiversity and species loss and the current 6th ever mass extinction on
earth

TEEB Project the next Stern Review
 Costs of biodiversity- latest reports Our latest work in the UN
 Rainforest crisis – economics solutions and initiatives

Green Economics solutions for the crisis in Spain :Focus on Spain as a rapidly expanding
country- and its current crisis issues. Recent Progress in Green Economics in Spain. This
conference will have a special focus on Spain

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
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Green Economics as a Discipline development :Progress in Green Economics
Methodology and tools and instruments for change
Pluralism and economics
Environmental economics
Ecological economics
lower carbon economics
Reworking demand and supply in green economics
Development, equity, gender
Methodology, ontology and philosophy
Lower growth and degrowth
Management under lower growth expectations


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Examining and contextualising and critiquing the Green New Deal and other popular
short term instruments
Keynsianism is it the right approach
Debt Debt and more debt
The importance of access to debt and borrowing for development
Keynsianism Kick starts, or Greening, growth as in nature, abundance and Greater
Equity? Instruments, tools and Green Economics Methodology for radical change and
real progress in Economics

Greening the Economy -: Green solutions for Longer term structural change in the economy

Debt and employment and fiscal solutions

Progress in Green Economics

Rebuilding communities

The clash between Ecology and Economy

Greening the Economy providing the explanations, causes and the answers to the
current crises: in the climate, biodiversity, commodity fluctuations, poverty, and the
19


credit crunch?
Finance, Food and Fuel?
Lower growth economics
Special dinners

Interns dinner

Participants welcome party

Formal dinner in hall

Interns annual presentation dinner Wednesday night



Eco Innovation
Cradle to Cradle, Carbon Foot printing ,Carbon Markets, Resource markets,
Carbon Trading, Business Research


The International Journal of Green Economics



Book Launches and book series launches
Publishing Green Economics
Teaching and Education in Green Economics and emerging Pedagogy and Training
 Book and chapter launches Miriam Kennet and Professor Jack Reardon
 Critiques of main stream economics approaches, text books and methodologydevelopments in Green Economics methodology

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Long termism in economics
Long termism in economics- intergenerational equity, pensions, senior green issues,
older age, future generations, the role of discounting, the evolution of discounting,
basic income, social support networks
Green Economics History of economics
Narrative approaches
Life story approaches to economics
Pensions
30 000 years of Human Energy Economics

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
Sustainable Cities and transport
Costs of aviation and the alternatives
Train travel today
Geographies
 Eastern and Western Philosophy:Asia- China and India
 African Philosophy and economics
 Focus on Spain
 Focus on Pakistan
 Focus on Estonia
20
Call for Papers: Special Issue of RRPE on Economic Democracy
download pdf copy of CFP here:
http://www.urpe.org/rrpe/media/CFPSpecialIssueEconomicDemocracy.pdf
Manuscript submission deadline: extended to 1 December 2009
Economic democracy is a theme that has run through radical and progressive theory and
practice. Broadly, it stands for an expansion of democratic practice beyond the political
realm, into the economic aspects of our lives. It has been applied at the microeconomic
level in pursuit of workers’ self-management and related cooperative structures. It also
suggests the need for planning, where democracy would be fundamental to decision
making about an economy’s objectives and means of achieving them. It has been used as
a term to expand the role of organized labor in management, and to link unions more
fundamentally to national political processes. Today it also has application to household
decision making, and to aspirations for global forms of redistribution.
All of the themes mentioned above are relevant to this special issue, and there are no
doubt others of importance that we have overlooked. In the past few decades, the term
economic democracy has appeared in book titles, and as an aspiration of political
movements. The RRPE’s Editorial Board thinks that it is time to reinvestigate issues that
fall under this theme, and a special issue is put forward as a partial means to that end. We
see this discussion as critical to renewing radical thought and re-energizing the left in the
United States, and in other nations and localities.
We invite papers on all aspects of economic democracy, at levels from the household to
the global economy, and on topics related to inclusion, participation in decisions that
affect one’s life, self-fulfillment, and realization of aspirations to be a more engaged
citizen. Race, gender, ecology, and other fields of inquiry are appropriate, if linked to
expanding our practice of democracy or barriers to doing so.
It is a common belief that capitalism sets strict limits on how much democratic practice is
possible in society. Is this the case? If so, how would various forms of socialist society
remove this barrier?
All aspects of economic activity are relevant to this topic, as we seek to encourage broad
rethinking of what it means to use democratic practice in material provisioning. Various
forms of democratic practice are also at issue, including direct participation and
representative democracy; geographic forms that suit local, national, and global practice;
and democratic practice across households, private for-profit and nonprofit firms, the
cooperative sector, and the public sector itself.
21
For more information, please visit the RRPE website:
http://www.urpe.org/rrpe/Announcements/CallForPapers/CFPSpecialIssueEconomicDem
ocracy.htm
Please send four copies by 1 December 2009 to:
Hazel Dayton Gunn, Managing Editor
Review of Radical Political Economics
Department of City and Regional Planning
106 W. Sibley Hall
Cornell University
Ithaca, NY 14853, U.S.A.
phone: 315-789-1414
email: hg18@cornell.edu
Region Formation in Contemporary South Asia
Wednesday 25th November to Friday 27th November 2009 University of
Delhi, India
This interdisciplinary conference seeks to promote discussion of the
economic and political significance of regions in the subcontinent.
Arguably, contemporary South Asia cannot be fully understood without
considering the contradictions of regional social formations and wider
structural processes. It can be held that, on the one hand,
relationships between different regions are important to study. On the
other hand, the internal constitution of a region and the various
relationships that underlie it must be appreciated. Today, many
important debates in the subcontinent are framed by reference to what
might be termed a 'region question'. The region, as it were, manifests
itself in (discussions of) everyday practices, as well as forms of
consciousness. Given such ubiquity – and yet specificity – theoretical
review of 'the region' and the actually existing regional situations of
South Asia is overdue.
The conference focuses upon two important observations of contemporary
South Asia. The first is that relations of production, exchange and
'kinship' (including those of caste, tribe and gender) continue to have
significant spatial variation. Given the many combinations of social
relations in the subcontinent, an examination is necessary of the
structural processes permitting reproduction of distinctive regional
formations. However, the aim is not to simply counterpoise metaprocesses, or abstract 'necessary' relations, to place-bound
contingencies. Rather, empirically-informed studies are sought of how
South Asian livelihoods have become intricately connected to the
reproduction of exploitative structures and circuits. Concrete
analysis of the different relationships, processes and nodal points of
the subcontinent will help scholar-activists to better assess the
current struggles and strategies of (pan-)regional social movements.
22
The second observation is that asymmetry exists between region
boundaries and the superimposition of administrative units. The
conference is interested in the peculiarities of how regions and state
administrative units relate, given the perpetuation of regions and
highly geographically uneven development throughout South Asia. Since
regional identities have proved so tenacious and important, the
relations and processes that facilitate their development and
reproduction require discussion. Correctly understanding the different
social movements throughout South Asia demanding greater regional
autonomy/independence is, arguably, most important. In this respect,
the conference seeks to facilitate the development of a historical
materialist theory of the formation and persistence of regions that
will enable scholar-activists to understand identity and regional
movements from a perspective other than from within the limits of
rights-based discourses.
The conference is necessarily situated at the confluence of several
disciplines. Historical-environmental study skills will be invaluable
to unravelling long-term processes that constitute a region, especially
the layering of different identities and modes of production over time.
However, importantly, a region is not just a space. On the contrary,
there is a dynamic of space and society that accords the peoples
inhabiting a region with a sense of place.
Sociological and literary expertise will thus be required to identify
and analyse the cultural material practices that constitute regional
spaces into geo-cultural places. Furthermore, the presence of the
region in politics has long been a field of inquiry in political
science – especially with regard to debates over the constitution of
individual states and questions of self-determination.
In light of the above, the organisers call for the submission of
abstracts for case studies of South Asian regions. (Studies from other
world regions will be considered on comparative/conceptual
merit.)
***
How to participate Interested scholars should submit their work address, provisional paper
title and one page abstract to the organising committee at
indian.formation@gmail.com
Proposals for special sessions within the conference will be considered
by the organising committee.
Delegates employed/sponsored by institutions outside of South Asia will
be required to pay a registration fee of 150 USD. Concessions may be
granted.
All delegates with accepted papers have the option of staying without
charge November 24th to November 28th in clean and comfortable
guesthouse accommodation adjacent to the conference venue. (N.B. This
applies to South Asian and international delegates alike.)
Keynote -
23
The opening address will be given by Professor David Seddon, author of
many important works on Third World social formations.
Other The conference website (www.arts.yorku.ca/neoliberalism) will be updated with further details.
The conference is organised as an interdisciplinary and politically
independent gathering. The organisers are of the opinion that an open
and democratic debate is necessary of the issues faced by South Asian
populations.
The conference finances will be available for inspection at the close
of proceedings. Copies of receipts for all donations and expenditures
will be available on request.
Executive organisers are Kumar Sanjay Singh and Simon Chilvers.
Call for Abstracts: 3rd International Research Workshop
Ankara, September 14th and 15th, 2009
IIPPE invites applications to its 3rd Annual Research Workshop in Ankara, Turkey on
the 14-15th September 2009. The event is organised with the support of TSSA (Turkish
Social Sciences Association) under the theme of “The Crisis, Interdisciplinarity and
Alternatives”. Those interested in participating are invited to send a one-page abstract to
132590@soas.ac.uk <mailto:132590@soas.ac.uk> before the deadline of 15th May 2009
(with the subject: IIPPE 3rd Research Workshop). We aim to inform successful
participants and attendees by 8th June. Participants are required to provide a written
paper in advance, the deadline for delivery of which is the 14th August 2009.
IIPPE Working Groups are encouraged to put forward a collective proposal for a session
(usually 3-4 papers) within the Workshop. Please submit such session proposals,
indicating the names and titles of the session papers to 132590@soas.ac.uk
<mailto:132590@soas.ac.uk> before the 15th May. Abstracts for these papers, and the
papers themselves, should then be sent separately as above.
IIPPE is only able at most to cover basic accommodation and food costs for most
workshop participants. We therefore strongly urge you to seek alternative sources of
funding to cover the cost of travel and other expenses, including a workshop fee if
available. Please indicate whether you have such funding in place when sending your
abstract to us.
24
For further information regarding the event please contact 132590@soas.ac.uk
<mailto:132590@soas.ac.uk> .
The Department of Applied Economics V of the University of the Basque Country and
the Cambridge Centre for Economic and Public Policy, Department of Land Economy, of
the University of Cambridge, are organizing the 6th International Conference
Developments in Economic Theory and Policy. The Conference will be held in Bilbao
(Spain), in July 2-3, 2009.
Although papers are invited on all areas of economics, there will be Plenary Sessions
with Invited Speakers about the following topics:
- Regional Economics
- Current Economic and Financial Crisis
- 21st Century Keynesian Economics
Invited Speakers include, among others, Gary Dymski (University of California), Marco
Crocco (Universidade Federale de Minas Gerais), Barry Moore (University of
Cambridge), Mike Kitson (University of Cambridge), Amitava Dutt (University of Notre
Dame), Ilene Grabel (University of Denver), Philip Arestis (University of Cambridge),
Malcolm Sawyer (Leeds University), Costas Lapavitsas (SOAS, University of London),
Eckhard Hein (Berlin School of Economics), Terry Barker (University of Cambridge),
Elias Karakitsos (University of Cambridge), Jan Kregel (Levy Economics Institute) and
Giuseppe Fontana (University of Leeds).
Suggestions for Organized Sessions are encouraged. An Organized Session is one
session constructed in its entirety by a Session Organizer and submitted to the conference
organizers as a complete package. Session organizers must provide the following
information:
- Title of the session, name and affiliation of the organizer, name and affiliation of
chair (if different than organizer)
- Titles of the papers, name, affiliation and contact information of authors
Besides Plenary, Organized and Normal Parallel sessions, there will also be Graduate
Student Sessions (i.e., students currently making a MSc or a PhD programme). In these
sessions, students can present their research and discuss that of other students.
Participants in Graduate Student Sessions will pay a lower conference fee.
The deadline to submit papers and ‘Organized Sessions’ is 31st May 2009.
For more information, you can contact with Jesus Ferreiro (jesus.ferreiro@ehu.es) or visit
the website www.conferencedevelopments.com
25
The Research Network Macroeconomics and Macroeconomic Policies (FMM)
organises its 13th conference on
‘The World Economy in Crisis – The Return of Keynesianism?’
30 – 31 October 2009, in Berlin.
The submission of papers in the following areas is encouraged:






Global imbalances and the current crisis
Financial crisis, real crisis and the risks of depression and
deflation
Paradigm shift in macroeconomics – the return of Keynesianism?
Economic policy reactions and the future relationship between the
market and the state
Regulation of the financial sector from a Keynesian perspective
Perspectives for a Keynesian New Deal
For the open part of the conference the submission of papers on the
general subject of the Research Network is encouraged as well. We also
ask for the submission of papers for graduate student sessions, on the
specific subject of this conference or on the general subject of the
Research Network.
Conference language is English. Selected papers will be published after
the conference.
The deadline for paper proposals is 30 June 2009. Please send an
abstract (one page) to Susanne Stöger (susanne-stoeger@boeckler.de).
Decisions will be made by mid-August. Accepted papers should be sent in
by 15 October to be posted on the conference web page.
Organising Committee of the conference:
Sebastian Dullien (dullien@fhtw-berlin.de), Eckhard Hein
(eckhard.hein@hwr-berlin.de), Peter Spahn (spahn@uni-hohenheim.de),
Achim Truger (achim-truger@boeckler.de), and Till van Treeck (till-vantreeck@boeckler.de)
Coordinating Committee of the Research Network:
Sebastian Dullien (FHTW Berlin), Trevor Evans (Berlin School of
Economics), Jochen Hartwig (KOF/ETH Zürich), Eckhard Hein (Berlin
School of Economics), Hansjörg Herr (Berlin School of Economics),
Torsten Niechoj (IMK, Düsseldorf), Jan Priewe (FHTW Berlin), Peter
Spahn (University of Hohenheim), Engelbert Stockhammer (WU Wien), Claus
26
Thomasberger (FHTW Berlin), Achim Truger (IMK, Düsseldorf), and Till
van Treeck (IMK, Düsseldorf)
More on the Conference: http://www.boeckler.de/33_94949.html
and on the Research Network: http://www.boeckler.de/91434_36330.html
LE CENTRE D’ETUDES MONETAIRES ET FINANCIERES
AND
THE INTERNATIONAL ECONOMIC POLICY INSTITUTE (IEPI)
In collaboration with
ADEK (Association pour le Développement des Etudes Keynésiennes)
Present their
FOURTH BI-ANNUAL CONFERENCE
“THE FINANCIAL AND MONETARY CRISIS:
Rethinking Economic Policies and Redefining the architecture and
governance of international finance”
DECEMBER 10-12, 2009
Université de Bourgogne, Laboratoire Economie Gestion (Dijon,
France)
Deadline for Proposals : July 30th, 2009
Decision from the Committee: August 30th, 2009
Deadline for sending papers: November 15th, 2009
Organised by
Claude Gnos (Université de Bourgogne et Cemf-LEG, Dijon)
Louis-Philippe Rochon (Laurentian University and IEPI, Canada)
The financial crisis has had considerable impact on our economies. In dealing with the
fallout of the
crisis, central banks and governments around the world have intervened at unprecedented
levels – in
fact at levels which only months ago were considered untenable. This crisis forces us to
reconsider the
role of various agents, the need to scrutinize national and international finance, the need
to better
manage the possibility of liquidity constraints, the rating agencies, the need to limit the
proliferation of
financial derivatives, and the need for better transparency and accountability with respect
to financial
operations. More importantly, however, it has brought back the role of the State in
discussions over
economic policy.
27
We encourage papers relating to conference’s general topic,
and more specifically, although not exclusively, on the following themes :
-History of the crisis, comparisons with past crises
- Financialisation
- Nature and efficiency of central bank operations
- Role of the State
- How can we foresee future crises
- Fiscal and monetary policy
For more information or to send proposals; please send to Louis-Philippe Rochon,
Associate
Professor, Laurentian University, at Lprochon2003@Yahoo.com or
Lprochon@Laurentian.ca
Or to Claude Gnos, Université de Bourgogne, Cemf-LEG, Dijon, claude.gnos@ubourgogne.fr
Scientific Committee:
Angel Asensio (Université de Paris XIII, France), Claude Gnos (Université de
Bourgogne, Cemf-LEG,
Dijon), Eckhard Hein (Berlin), Jesper Jespersen (Roskilde University, Denmark), Dany
Lang
(Université de Paris XIII, France), Edwin Le Heron (IEP Bordeaux), Noémi Levy
(UNAM, Mexique),
Alain Parguez (Université de Besançon), Jean-François Ponsot (Université de Grenoble
II), LouisPhilippe Rochon (Laurentian University, Canada), Mario Seccareccia (University of
Ottawa), Sergio
Rossi (University of Fribourg, Suisse
Call for Papers
JSPE 57th Annual Conference, 2009,
On
The World Crisis of 2008 and the Future of Capitalism
To be held on November 22-23, 2009, at the University of Tokyo, Hongo Campus in Tokyo, Japan
The 57th annual conference of the JAPAN SOCIETY OF POLITICAL ECONOMY (JSPE) will be held on
November 22 (Sunday) and 23 (Monday), 2009, at the University of Tokyo, Hongo Campus in Tokyo. The
theme of
the plenary session is: The World Crisis of 2008 and the Future of Capitalism. In the last annual
conference at Kyushu
University in 2008, we focused on the global financial crisis caused by the subprime mortgage fiasco in the
United
28
States in 2007. We analysed the causes and risks of the subprime shock and discussed the financial
situation just after
the bankruptcy of Lehman Brothers on September 15, 2008. Through analysing this subprime mortgage
crisis from
multifaceted perspectives, we tried to clarify where global capitalism was now and where it was going.
In October 2008, the financial crisis worsened and the U.S. Congress passed the Emergency Economic
Stabilization Act, authorizing the Treasury Department to use up to 700 billion dollars in a Troubled Asset
Relief
Program to stabilize financial markets. However, this financial crisis spread over Europe and many
countries. The
leaders of the G-7 held a meeting in Washington, D.C. on October 11, but were not able to find an effective
way from
this crisis. The Dow Jones average fell 733 points on October 15, which was the biggest fall since the Black
Monday in
October 1987. In December, the Big Three automakers of the United States were plunged into a business
crisis
because of stagnant car sales and the 700 billion dollars for saving financial institutions were also applied
for these
automakers’ bailout. The rapid fall of consumption in the United States caused a world-wide decline in
exports.
Japanese manufacturing industries rapidly reduced their employment at the end of 2008, raising serious
concerns about
emerging social problems. The U.S. recession has also had a strong effect on production and employment
in real sectors
of newly industrialising countries in the 21st Century, like China, India and Brazil. The world economic
situation has
got into a world depression, which is beyond the phase of subprime shock and credit crunch.
We call this ongoing rapid economic contraction mentioned above “THE WORLD CRISIS OF 2008.” We
will
try to empirically analyse the historical path of this crisis, and theoretically understand the roots of this
crisis on the
theme of the plenary session. We will also think about “THE FUTURE OF CAPITALISM” because
contemporary
capitalism has dramatically changed in the age of globalization. Can we integrate our society with the
ideology of
welfare state? Will we live in the regionalized society in the future? We will discuss the future of
capitalism beyond
economic forecasts and business cycles.
We call for papers from JSPE members and from others interested in participating in this conference which
is
based on the aforementioned theme. We will welcome various participants with a wide range of interests
and
methodological approaches. Although the main conference language is Japanese, we will organize Englishlanguage
sessions on November 22, especially aiming at accepting those from overseas who are willing to participate
in the
following two categories:
English Sessions 1: Topics relating to the general theme of the conference
These sessions are designated to the topics relating to the conference general theme: The World Crisis of
2008
and the Future of Capitalism
English Sessions 2: Other specific topics
These sessions will be organized to focus on other specific topics such as environment and gender and
regional
economies (including China and others), and so on, while remaining completely open to suggestions and
proposals.
29
Submission Procedures and the Deadline
All those who want to present a paper at the conference should send an abstract of the paper [in 200 words]
with (1)
name, (2) address (E-mail and mailing address), (3) affiliation and other relevant data by no later than
June 13, 2009,
to:
Prof. Shinjiro HAGIWARA or Dr. Tomohiko SEKINE,
E-mail: Jspecice@jspe.gr.jp
Postal mailing address: Faculty of Economics, Yokohama National University, Tokiwadai 79-3, Hodogayaku,
Yokohama-shi, Kanagawa, 240-8501, Japan. Tel: +81-45-339-3575(Office), Fax: +81-45-339-3518
*Notification of acceptance will be sent by June 27. Attendants will pay their conference fee (5000 yen
including the
conference buffet), as well as their own transportation, accommodation and other personal expenses.
Prof. Shinjiro HAGIWARA, Faculty of Economics, Yokohama National University,
Chairman of the JSPE Committee for International Communication and Exchange
*JSPE Executive Office:
Dr. Tetsuji Kawamura, Secretary General of the JSPE, Japan.
c/o Dr. Tetsuji Kawamura, Professor, Faculty of Economics, Dean of the Graduate School of Economics, Hosei
University,
4342 Aihara, Machida-shi, Tokyo 194-0298, Japan, Tel:+81-42-783-2593 & Fax:+8142-783-2611
e-mail: secretariat@jspe.gr.jp; JSPE URL: http://www.jspe.gr.jp/ja
Conferences, Seminars and Lectures
Les analyses consacrées aux mécanismes financiers ayant conduit à la crise de grande
ampleur que nous connaissons se multiplient aujourd’hui. Souhaitant prendre un peu de
recul par rapport à cette actualité, la Revue de la Régulation. Capitalisme, Institutions,
Pouvoirs sortira en juin un numéro spécial consacré à une remise en perspective de cette
crise du capitalisme financiarisé.
30
Voici en primeur de ce dossier :
- Robert Boyer « Feu le régime d’accumulation tiré par la finance : La crise des
subprimes en perspective historique », qui fournit d’importantes pistes pour analyser la
fin du régime d’accumulation tiré par le crédit aux ménages.
http://regulation.revues.org/index7367.html
- Gerald Epstein « Obama's Economic Policy: Achievements, Problems and Prospects »
, qui propose un première analyse fournie de la politique économique d'Obama.
http://regulation.revues.org/index7459.html
Un autre sera également publié rapidement en avant-première :
- Frédéric Lordon « "Réguler" ou refondre ? Les insuffisances des stratégies
prudentielles »
Un séminaire autour de ce dossier "crise du capitalisme financier" sera organisé le 11 juin
à 17h à la MSH Paris Nord.
Bonne lecture !
Thomas Lamarche
Maître de Conférences en Sciences Economiques
Université Lille 3 et Germe paris 7
Revue de la régulation. Capitalisme, Institutions, Pouvoirs. Http://regulation.revues.org
Séminaire Hétérodoxies du CES - Matisse
Nicolas POSTEL et Richard SOBEL
(Clersé – UMR 8019 CNRS / Lille 1)
Economie politique, institutionnalisme et heterodoxies: Un essai de généalogie
conceptuelle de l’objet propre des hétérodoxies économiques
Mardi 5 mai 2009 à 16h00
Maison des Sciences Economiques
106 Boulevard de l’Hôpital, 75 013 PARIS (Métro Campo Formio) Salle des
Conférences (6ème étage)
31
Le texte de la communication sera disponible à compter du 29 avril sur le site :
http://matisse.univ-paris1.fr/heterodoxies
‘Causes
and consequences of the current financial crisis: What lessons for
European Union countries?‘
Date: Friday, 12 June 2009, 8.30am – 6.00pm
Venue: British Academy, 10 Carlton House Terrace, London SW1Y 5AH
If you wish to attend and are not presenting a paper the registration fee (including lunch and
refreshments) is £80.00 + VAT.
Registration is required. Click
secure website.
here to pay and register. You will be redirected to SWREG
If you would like to receive further information, please contact Pat Shaw by
email: p.shaw@niesr.ac.uk or
phone: 020 7654 1905.
Conference ‘Globalisation and European Integration: the Nature of the Beast’, 5th-6th June 2009,
University of Warwick.
ANNOUNCEMENT AND CALL TO PARTICIPANTS
Registration is now open
Description
A cutting-edge event on Critical Political Economy approaches to European integration and its relationship
with globalisation. The conference aims to stimulate a constructive engagement between historical
materialist, constructivist and post-structuralist approaches to European integration. It aims to encourage
interdisciplinary exchange between specialists from the fields of politics, international relations,
international political economy and sociology on their research findings regarding global governance,
regional integration and the national state with special reference to the European Union.
Registration fee
£27 including refreshments, buffet lunch and wine reception on Saturday.
32
Registration deadline
15 May 2009.
Capacity
There is a limited number of places available, so please register as soon as possible in order to secure your
participation.
Keynote Speakers
A. Cafruny and M. Ryner.
Participants
K. Van der Pijl, B. Jessop, H. Overbeek, L.S. Talani, A. Bieler, W. Bonefeld, B. Clift, A. Wigger, H. BuchHansen, O. Holman, H.J. Bieling, S. Shields, C. Belfrage, J. Grahl, G. Menz, J. Baines, H. Macartney, I.
Bruff, J. Drahokoupil, L. Levidow, C. Shaw, G. Strange, J. Tittenbrun, H. Plaschke, E. de Zutter, F. Ercan,
S. Oguz, S.M. Rodrigues Balão, C. Dannreuther, K. Möller, C. Hermann, L. Horn, V.Muzaka, M.
Notshulwana, A. Popa, O. Parker, J. Caballero, F. Capano, M. Fini, N. Fuentes, E. Gundogdu, W. Ko, O.
Yaka, S. Braconi, J.W.Son.
For more information (conference programme, registration procedure, transport/accommodation
information), please visit http://www2.warwick.ac.uk/fac/soc/pais/ss/beast/ .
Co-organisers: Andreas Tsolakis (A.A.Tsolakis@warwick.ac.uk) and Petros Nousios
(P.Nousios@warwick.ac.uk).
This event is kindly funded by the American Study and Student Exchange Committee and the PAIS
department at Warwick.
33
34
Congreso Anual 2009
“Oportunidades y Obstáculos para el Desarrollo de Argentina.
Lecciones de la post-convertibilidad”
Invitamos a presentar ponencias
Se extendió el plazo para presentar resúmenes.
Nueva fecha: Lunes 11 de Mayo
El Congreso tendrá como eje central el tópico que hemos elegido como título pero serán
igualmente bienvenidas aquellas contribuciones de carácter teórico, así como relativas a otros
países de América Latina u otras etapas históricas que contribuyan al debate. En estos últimos
años, nuestro país ha experimentado un viraje político y económico significativo respecto a la
trayectoria adoptada desde mediados de los años 70. Este viraje ha impulsado un período de
vigoroso crecimiento y modificado aspectos sustanciales de la dinámica económica. El mundo
también se ha transformado profundamente. Pero ninguno de estos procesos se encuentra aún
definido ni mucho menos concluido. Los márgenes de acción y los caminos a seguir están
abiertos y por ello cobra especial importancia la construcción de una agenda de política
económica creativa, sustentada en los mejores análisis. Por lo tanto, se busca reunir la
producción intelectual más relevante y generar un espacio propicio para la renovación de
propuestas y la identificación de los desafíos principales que la política económica nos depara en
el próximo quinquenio.
Se programarán sesiones simultáneas sobre los siguientes ejes temáticos: estructura productiva,
inserción internacional, mercado de trabajo, crecimiento y distribución del ingreso; Argentina
frente a la crisis financiera internacional; modelos de desarrollo económico en América Latina; el
Estado y sus finanzas; estabilidad macroeconómica y política económica. A su vez, se realizarán
paneles de debates, integrados por destacados especialistas de nuestro país y el extranjero,
sobre los temas más salientes de la coyuntura política y económica.
Cierra el congreso: Ha-Joon CHANG (Cambridge University)
35
FECHAS CLAVE
Envíos de resúmenes: Lunes 11 de Mayo –NUEVA FECHALos resúmenes deben ser enviados a correoaeda@gmail.com
Difusión resultados selección de trabajos: 26 de Mayo
Recepción de trabajos (versión final): 15 de Junio
COMITE ORGANIZADOR
Fernando Peirano (coord.), Paula Español, Andrés Tavosnanska, Matías Kulfas, Iván Heyn, Alfredo
Iñiguez, Leandro Serino, Gabriela Camiletti, Diego Rivas, Eva Bamio, Virginia Fernández, Eugenia
Aruguete, Patricia Gutti, Agustina Zelada, Natalia Monayer, Sabina Ozomek.
COMITE CIENTIFICO
Aldo Ferrer (Plan Fenix, UBA)
Fernando Porta (Centro REDES, UBA, UNQ)
Mario Damill (CEDES, UBA)
Eduardo Basualdo (FLACSO)
Miguel Zanabria (UNQ, UNLP)
Hernán Soltz (UBA, FLACSO)
NORMAS DE PRESENTACION:
Resúmenes: La extensión mínima será de una página y el máximo de tres páginas a espacio
simple, letra Times New Roman 12. Se deberá incluir título del trabajo, nombre y pertenencia
institucional de los autores, dirección de correo electrónico. Se admitirán trabajos en castellano,
inglés y portugués. Los resúmenes deben ser enviados a correoaeda@gmail.com
Artículos. La extensión sugerida es de 20 páginas a espacio simple, letra Times New Roman 12. El
formato del archivo deberá ser pdf. Las tablas y gráficos deben incluirse en el texto principal.
Si querés recibir noticias nuestras, suscribite aquí. Para dar de baja tu subscripción, cliquea aquí.
36
International Confederation of Associations for Pluralism in Economics - News
Fred Lee
Executive Director
Job Postings for Heterodox Economists
Heterodox Conference Papers and Reports and Articles
Paper assets, real debts: An ecological-economic exploration of the global economic
crisis by Giorgos Kallis, Joan Martinez-Alier, Richard B. Norgaard
Heterodox Journals and Newsletters
37
International Review of Applied Economics: Volume 23 Issue 3
(http://www.informaworld.com/openurl?genre=issue&issn=02692171&volume=23&issue=3&uno_jumptype=alert&uno_alerttype=new_issue_alert
,email) is now available online at informaworld
(http://www.informaworld.com).
Special Issue:Mechanisms of Inequality
This new issue contains the following articles:
Mechanisms of inequality: an introduction, Pages 233 - 237
Authors: Maurizio Franzini; Mario Pianta
DOI: 10.1080/02692170902811660
Link: http://www.informaworld.com/openurl?genre=article&issn=02692171&volume=23&issue=3&spage=233&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Trade, catching-up and divergence, Pages 239 - 264
Author: Francisco Serranito
DOI: 10.1080/02692170902811678
Link: http://www.informaworld.com/openurl?genre=article&issn=02692171&volume=23&issue=3&spage=239&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Globalisation vs internal reforms as factors of inequality in
transition economies, Pages 265 - 287
Authors: David Barlow; Gianluca Grimalda; Elena Meschi
DOI: 10.1080/02692170902811702
Link: http://www.informaworld.com/openurl?genre=article&issn=02692171&volume=23&issue=3&spage=265&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Migrant remittances and inequality in Central-Eastern Europe, Pages 289
- 307
Authors: Marilena Giannetti; Daniela Federici; Michele Raitano
DOI: 10.1080/02692170902811710
Link: http://www.informaworld.com/openurl?genre=article&issn=02692171&volume=23&issue=3&spage=289&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Innovation and wage polarisation in Europe, Pages 309 - 325
Authors: Elisabetta Croci Angelini; Francesco Farina; Mario Pianta
DOI: 10.1080/02692170902811736
Link: http://www.informaworld.com/openurl?genre=article&issn=02692171&volume=23&issue=3&spage=309&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Poorer workers. The determinants of wage formation in Europe, Pages 327
- 343
Author: Francesco Bogliacino
DOI: 10.1080/02692170902811751
Link: http://www.informaworld.com/openurl?genre=article&issn=02692171&volume=23&issue=3&spage=327&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
38
Persistence of inequality in Europe: the role of family economic
conditions, Pages 345 - 366
Authors: Maurizio Franzini; Michele Raitano
DOI: 10.1080/02692170902811777
Link: http://www.informaworld.com/openurl?genre=article&issn=02692171&volume=23&issue=3&spage=345&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
National vs local funding for education: effects on growth and
inequality, Pages 367 - 385
Author: Massimo Giannini
DOI: 10.1080/02692170902811785
Link: http://www.informaworld.com/openurl?genre=article&issn=02692171&volume=23&issue=3&spage=367&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
The politics of social protection: social expenditure vs market
regulation, Pages 387 - 404
Authors: Debora Di Gioacchino; Laura Sabani
DOI: 10.1080/02692170902811843
Link: http://www.informaworld.com/openurl?genre=article&issn=02692171&volume=23&issue=3&spage=387&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Feminist Economics: Volume 15 Issue 2
(http://www.informaworld.com/openurl?genre=issue&issn=13545701&volume=15&issue=2&uno_jumptype=alert&uno_alerttype=new_issue_alert
,email) is now available online at informaworld
(http://www.informaworld.com).
This new issue contains the following articles:
Divorced, Separated, and Widowed Women Workers in Rural Mozambique,
Pages 1 - 31
Authors: Carlos Oya; John Sender
DOI: 10.1080/13545700902729516
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=1&uno_jumptype=alert&uno_alerttype=new_iss
ue_alert,email
The Spatial Determinants Of Wage Inequality: Evidence From Recent
Latina Immigrants In Southern California, Pages 33 - 72
Author: Pascale Joassart-Marcelli
DOI: 10.1080/13545700902748250
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=33&uno_jumptype=alert&uno_alerttype=new_is
sue_alert,email
(Not) Valuing Care: A Review of Recent Popular Economic Reports on
Preschool in the US, Pages 73 - 95
Author: Mildred E. Warner
DOI: 10.1080/13545700802699512
39
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=73&uno_jumptype=alert&uno_alerttype=new_is
sue_alert,email
Sexual Orientation Discrimination: An International Perspective, edited
by Lee Badgett and Jefferson Frank. New York and London: Routledge,
2007. 322 pp. ISBN-13: 978-0-415-77023-1, ISBN-10: 0-415-77023-8
US$150.00, Pages 97 - 103
Author: Karin Schönpflug
DOI: 10.1080/13545700902763028
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=97&uno_jumptype=alert&uno_alerttype=new_is
sue_alert,email
Money With a Mission, Volume 1: Microfinance and Poverty Reduction, by
James Copestake, Martin Greely, Susan Johnson, Naila Kabeer, and Anton
Simanowitz. Warwickshire, UK: Practical Action, 2006. 272 pp. ISBN-13:
978-1853396144 (pbk). US$33.95., Pages 103 - 106
Author: Ranjula Bali Swain
DOI: 10.1080/13545700802698613
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=103&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
The Feminist Economics of Trade, edited by Irene van Staveren, Diana
Elson, Caren Grown and Nilüfer Cagatay. London and New York: Routledge,
2007. 328 pp. ISBN-13: 978-0415770590. ISBN-10: 0415770599 (hbk.).
US$75.60., Pages 106 - 110
Author: Marina Durano
DOI: 10.1080/13545700802698597
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=106&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Assembling Women: The Feminization of Global Manufacturing. Teri
Caraway, Ithaca and London: Cornell University Press, 2007. 224pp. ISBN
978 0 8014 7365 4. Price, $18.95(pbk) $55.00 (hbk), Pages 110 - 113
Author: Juanita Elias
DOI: 10.1080/13545700802698589
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=110&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Matrilineal Communities, Patriarchal Realities: A Feminist Nirvana
Uncovered, by Kanchana N. Ruwanpura. Ann Arbor: University of Michigan
Press, 2006. 256 pp. ISBN-13: 978-0-472-06977-4, ISBN-10: 0-472-06977-2
(pbk.). US$22.95, Pages 113 - 115
Author: Drucilla K. Barker
DOI: 10.1080/13545700902766906
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=113&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Valuing Children: Rethinking the Economics of the Family, by Nancy
Folbre. Cambridge, MS: Harvard University Press, 2008. 248 pp. ISBN-13:
978-0674026322 (hbk.). US$45.00, Pages 116 - 120
Author: Ingrid Robeyns
40
DOI: 10.1080/13545700902763036
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=116&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Modern Couples, Sharing Money, Sharing Life,edited by Janet Stocks,
Capitolina Diaz, Bjorn Hallerod. New York: Palgrave Macmillan, 2007.
200 pp. ISBN-13: 978-0230517028, ISBN-10: 0230517021 (hbk.) US$74.95,
Pages 120 - 125
Author: Fran Bennett
DOI: 10.1080/13545700802698605
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=120&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Global Perspectives on Gender Equality, Reversing the Gaze, by Naila
Kabeer and Agneta Stark with Edda Magnus. New York: Routledge, 2007.
312 pp. ISBN-13: 978-0415963497 (hbk.). US$95.00., Pages 125 - 130
Author: Maria Sagrario Floro
DOI: 10.1080/13545700902773456
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=125&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
Mujeres economistas: Las aportaciones de las mujeres a la ciencia
económica y a su divulgación durante los siglos XIX y XX [Women
Economists: Women's Contributions to the Economic Sciences and
Advancement during the Nineteenth and Twentieth Centuries], Pages 130 137
Author: Susana Martinez-Rodriguez
DOI: 10.1080/13545700902736594
Link: http://www.informaworld.com/openurl?genre=article&issn=13545701&volume=15&issue=2&spage=130&uno_jumptype=alert&uno_alerttype=new_i
ssue_alert,email
European Journal of Economic and Social Systems, vol 21/2 - 2008
http://ejess.revuesonline.com/
41
Money and Technological Change
The role of Financing int the Process of Evolution
• CONTENTS [FREE]
- pp.149-149
• Money and Technological Change. The Role of Financing in the Process of Evolution
A.FUMAGALLI, S.LUCARELLI - pp.151-163
• From Natural Order to Case. Money and Machineries
G.LUNGHINI - pp.165-178
• Minimum Wage, Credit Rationing and Unemployment in a Monetary Economy
G.FORGES DAVANZATI, A.PACELLA - pp.179-194
• Solvency and Labour Effort in a Monetary Theory of Production
E.BRANCACCIO - pp.195-211
• The Role of Banks in the (over-)Accumulation of Capital
S.ROSSI - pp.213-231
• Technological Shift and the Rise of a New Finance System. The Market-pendulum Model
L.BADALIAN, V.KRIVOROTOV - pp.233-266
• Innovative Activity as Factor of Instability in a Monetary Production Economy
A.FUMAGALLI - pp.267-288
Economia e Sociedade, Campinas,
v. 17, número especial, dez. 2008.
Post World War II politics and Keynes’s aborted revolutionary economic theory
Paul Davidson
Abstract
This paper attempts to explain the death blow given to the revolutionary analysis
developed by the greatest thinker in economics in the 20th century. It shows that, though
Paul Samuelson saved the term “Keynesian” from being excoriated from post second
world war textbooks by the McCarthy anti-communist movement, the cost of such a
saving was to sever the meaning of Keynes’s theory in mainstream economic theory
from its General Theory analytical roots.
Key words: Keynes, John Maynard; Mainstream economics
Resumo
A política do pós-guerra e o aborto da teoria econômica revolucionária de Keynes
Este artigo procura explicar o golpe de morte desferido contra a análise revolucionária
desenvolvida pelo maior pensador em economia no século XX. O texto mostra que,
embora Paul Samuelson tenha impedido que o termo “keynesiano” fosse excluído dos
livros-texto pelo anti-comunismo macarthista, esse sucesso teve por custo a ruptura entre
o sentido da teoria keynesiana na teoria convencional e as raízes analíticas da Teoria
Geral.
42
Palavras-chave: Keynes, John Maynard; Economia mainstream.
JEL B220.
Keynes e o Brasil
Fernando J. Cardim de Carvalho
Resumo
A difusão de autores hoje considerados heterodoxos, como Keynes, Kalecki e
Schumpeter, dentre outros, no ensino de economia no Brasil tem sido sempre notada,
com desconforto por ortodoxos, e com surpresa por economistas heterodoxos
estrangeiros que enfrentam muitas dificuldades com a segregação que sofrem em outros
países. As razões para explicar o vigor do pensamento heterodoxo no Brasil são muitas e
complexas, mas um elemento importante foi a disposição de alguns centros universitários
importantes (e de órgãos de fomento à pesquisa) de bancar a reflexão em torno desses
autores. No caso de Keynes, dois centros têm se destacado, a Universidade de Campinas,
com uma ênfase mais kaleckiana, e a Universidade Federal do Rio de Janeiro, com uma
ênfase mais marshalliana. Este artigo reconstrói a evolução recente do pensamento
keynesiano no Brasil para fundamentar essa observação.
Palavras-chave: Keynes, John Maynard; Economia keynesiana; Ensino – Economia –
Brasil.
Abstract
Keynes and Brazil
Foreign scholars visiting Brazil are always surprised with the vigor shown by nonorthodox schools of economics thought, in contrast with the heavy degree of segregation
they usually face in their countries of origin. The reasons to explain this situation are
numerous and complex, but an important element is the willingness of some key
academic institutions (and some supporting financing institutions) to support research and
teaching of authors such as Keynes, Kalecki and Schumpeter, among others. Two in
particular deserve mention, the University of Campinas, developing a Kalecki approach
to effective demand, and the Federal University of Rio de Janeiro, exploring a more
Marshallian avenue to Keynes. The paper outlines the recent evolution of these two
schools to demonstrate the preceding statement.
Key words: Keynes, John Maynard; Keynesian economics; Teaching of economics –
Brazil.
JEL A20, E12.
O endividamento do consumidor no cerne do capitalismo conduzido pelas finanças
Robert Guttmann
Dominique Plihon
Resumo
43
Partindo de uma comparação entre a dinâmica de crescimento da União Européia e dos
Estados Unidos, este artigo tem por foco a dívida dos consumidores norte-americanos.
Embora a dívida dos consumidores tenha crescido em todo o mundo desenvolvido, em
nenhum lugar o processo foi tão longe como nos Estados Unidos. O artigo explora as
razões para isso. Uma análise das causas estruturais relaciona a explosão da dívida ao
status privilegiado do dólar norte-americano como moeda internacional e às inovações
financeiras decorrentes desse privilégio. Várias inovações associadas às hipotecas
(securitização, refinanciamento, home-equity withdrawals) converteram os norteamericanos em “compradores em última instância”, permitindo a eles emitir mais e mais
dívida contra o valor de seus imóveis, ao mesmo tempo em que garantiam que esses
ativos se apreciassem. O artigo então examina por que tal padrão de crescimento não
poderia prosseguir indefinidamente, assim fornecendo uma nova explicação para a crise
corrente, enraizada nos desequilíbrios globais decorrentes de um sistema monetário
internacional assimétrico.
Palavras-chave:
Financeirização.
Endividamento
das
famílias;
Economia
norte-americana;
Abstract
Consumer debt at the center of finance-led capitalism
Initially presented as a cross-regional comparison to highlight differences in the growth
dynamic of the European Union and the United States, this article focuses on U.S.
consumer debt. While households all over the developed world have come to use more
debt, nowhere has this process gone further and reached deeper than in the United States.
The article explores why this should have been so. A closer look at various structural
causes traces the recent explosion of U.S. household debt to the privileged status of the
US-dollar as the world’s vehicle currency and to the financial innovations flowing from
this privilege. Various innovations pertaining to mortgage loans (e.g. securitization,
refinancing, home-equity withdrawals) have turned Americans into the world’s “buyer of
last resort” by letting them borrow more and more against their rising home values while
making also sure that those assets appreciated in value. The article then examines why
such a debt-financed growth pattern could not go on indefinitely, thereby providing a new
contextual explanation for the ongoing crisis as rooted in global imbalances arising from
an asymmetric international monetary system.
Key words: Consumer debt; United States; Finance-led growth.
JEL E42, E43, E 44, E58, E63, F32, F33, F34, G01, G15, G18, G21, H63.
Las políticas monetaria y fiscal en un régimen de tipo de cambio competitivo
Roberto Frenkel
Resúmen
Este trabajo discute algunas características del régimen de tipo de cambio real
competitivo y estable (TCRCE). En el primer punto se presenta el régimen de
TCRCE. A continuación se plantea que el tipo de cambio real competitivo y estable
44
puede inducir una presión inflacionaria permanente, por los mismos mecanismos que
estimulan altas tasas de crecimiento del producto y el empleo. Esa presión debe ser
compensada por un control sobre la demanda agregada a través de las políticas fiscal
y monetaria. En al segundo punto se discute la autonomía monetaria en un régimen de
TCRCE. La conclusión es que se cuenta generalmente con un considerable grado de
autonomía que puede ser utilizado para ejercitar políticas monetarias activas. El tercer
punto discute las posibilidades de la política monetaria para servir de instrumento
principal del control de la demanda agregada. La conclusión es que la principal
responsabilidad por el control de la demanda agregada no puede cargarse sobre la
política monetaria, de modo que el control debería realizarse principalmente mediante
la política fiscal.
Palabras-clave: Tasa de cambio real; Inflación; Crecimiento.
Abstract
Monetary and fiscal policies in a competitive real exchange rate regime
The paper discusses some characteristics of the Stable and Competitive Real
Exchange Rate regime (SCRER). A brief description of the regime is presented in the
first section. It is argued that a competitive real exchange rate might generate a
permanent inflationary pressure throughout the same mechanisms that stimulate high
output and employment rates of growth. This pressure should be contained by
controlling aggregate demand with fiscal and monetary policies. The second section
discusses monetary autonomy in a SCRER regime. It is concluded that a significant
degree of monetary autonomy generally exists that allows the implementation of
active monetary policies. The third section focuses on the possibilities of the
monetary policy to perform as the main controlling instrument of aggregate demand
dynamics. It is concluded that monetary policy could not perform the mentioned role
and that the main responsibility for the control of aggregate demand should be played
by fiscal policy.
Key words: Real exchange rate; Inflation; Growth.
JEL F41, F31, E52.
New consensus macroeconomics and inflation targeting: Keynesian critique
Philip Arestis
Malcolm Sawyer
Abstract
A number of countries have adopted Inflation Targeting (IT) since the early 1990s in an
attempt to reduce inflation to low levels. Since then, IT has been praised by most
literature as a superior framework of monetary policy. We suggest that IT is a major
policy prescription closely associated with the New Consensus Macroeconomics (NCM).
45
This paper concentrates mainly on the IT aspects of the NCM. We address the theoretical
foundations of IT. This is followed by an assessment of its theoretical foundations, where
a number of aspects are discussed. We then turn our attention to an assessment of the
empirical work on IT, where we distinguish the work that has been done utilising
structural macroeconomic models, and work based in single equation techniques. The IT
theoretical framework and the available empirical evidence do not appear to support the
views of the proponents.
Key words: New consensus macroeconomics; Inflation targeting; Interest rates.
Resumo
A macroeconomia do novo consenso e as metas de inflação: uma crítica keynesiana
No intuito de reduzir a inflação, vários países adotaram o regime de metas (RM) desde o
início da década de 1990. Deste então, o RM tem sido enaltecido pela maior parte da
bibliografia como um arranjo superior para a política monetária. Sugerimos que esse
arranjo está intimamente associado ao Novo Consenso Macroeconômico (NCM). Neste
artigo, discutimos e avaliamos os fundamentos teóricos do RM. Avaliamos também a
pesquisa empírica sobre ele, distinguindo os trabalhos que utilizam modelos
macroeconômicos estruturais e os que utilizam técnicas uniequacionais. A estrutura
teórica do RM e a evidência empírica disponível parecem não dar suporte às visões de
seus proponentes.
Palavras-chave: Novo consenso macroeconômico; Inflação – Metas; Taxa de juros.
JEL E31, E52.
Economic growth, externalities and increasing returns to scale: what the data cannot
show
Jesus Felipe
John McCombie
Abstract
The theoretical existence of the aggregate production function has been criticized in the
Cambridge Capital Theory Controversies and on the grounds of aggregation problems.
Attempts to answer these criticisms by recourse to econometric estimation and testing
using constant-price value data for output and capital encounter the problems posed by an
underlying accounting identity. We show by means of a simulation exercise that,
because of the identity, estimates of such parameters as the putative aggregate elasticity
of substitution may bear no relationship to the true values given by the hypothetical
physical data at the firm level. It is further shown using growth rates for UK
manufacturing industries why the use of value data in production function regressions
will always give the result that there are constant returns to scale and that the output
46
elasticities are close to their respective factor shares. In other words, the data cannot be
used to test for the presence of increasing returns to scale or externalities to capital
accumulation.
Key words: Production function; Accounting identity; Returns to scale; Externalities.
Resumo
Crescimento econômico, externalidades e retornos crescentes de escala: o que os dados
não podem mostrar
A existência teórica da função de produção agregada foi criticada pela Controvérsia de
Cambridge e com base nos problemas de agregação. Tentativas de responder a essas
críticas por meio de estimações econométricas e usando valores a preços constantes para
produto e capital deparam-se com os problemas colocados por uma identidade contábil
subjacente. Mostramos, por meio de um exercício de simulação, que, devido a essa
identidade, estimativas de parâmetros como a suposta elasticidade de substituição podem
não ter qualquer relação com os verdadeiros valores, dados por dados físicos hipotéticos
no plano da firma. Ademais, usando as taxas de crescimento para a indústria de
transformação britânica, mostramos que o uso de dados de valor em regressões de função
de produção sempre mostrará retornos constantes de escala e elasticidades da produção
próximas às participações dos fatores. Em outras palavras, tais dados não podem ser
usados para testar a presença de retornos crescentes de escala ou externalidades à
acumulação de capital.
Palavras-chave: Produção agregada; Identidade contábil; Externalidades.
JEL O47.
Una reconsideración de las perspectivas económicas de México
Julio López G.
Resúmen
Aunque la economía mexicana ha tenido un crecimiento lento desde hace casi tres
décadas, este artículo el autor argumenta qué hay razones para el optimismo si se aplica
una estrategia económica diferente de la que se ha venido siguiendo. Rescatando y
ahondando en conceptos desarrollados por economistas latinoamericanos estructuralistas,
el autor sostiene que México tiene abundantes recursos ociosos y que el énfasis de una
estrategia de crecimiento alternativa, debería ser poner a trabajar dichos recursos ociosos
y, en particular, la fuerza de trabajo desempleada y el equipo de capital sin utilizar. En
este contexto, se proponen medidas de corto y largo plazo capaces de asegurar un alto
ritmo de crecimiento del producto y del empleo, cuidando también los equilibrios de
precios y externo.
Palabras-clave: Desarrollo económico; Economía mexicana.
Abstract
Mexico’s economic perspectives reconsidered
47
Although the Mexican economy has grown at a dismal rate for almost the last three
decades, in the present article the author argues that there are reasons to be optimistic if a
different economic strategy from the one presently ruling is implemented. Recovering
and deepening ideas and concepts developed by Latin American Structuralist authors, the
author holds that Mexico has plenty of idle resources and, in particular, plenty of
unemployed labor force and the unused capital equipment. In this context, short- and
long-run measures are proposed, capable of assuring a high rhythm of output growth and
of employment, even as price and external equilibria are safeguarded.
Key words: Economic development; Economic strategies; Mexican economy.
JEL E6, O2, O5.
Economia e Sociedade, Campinas,
v. 17, n. 3 (34), dez. 2008.
A concepção de Keynes do sistema econômico como um todo orgânico complexo
Fernanda Graziela Cardoso
Gilberto Tadeu Lima
Resumo
O presente artigo argumenta que elementos da abordagem da complexidade,
recentemente aplicada à economia, já estavam presentes na obra de Keynes e destaca a
fecundidade de uma interação entre elas. A abordagem da complexidade tem como uma
idéia central a de que as ações individuais promovem conseqüências não intencionais
como resultado de um processo de auto-organização, permitindo o funcionamento do
sistema. Keynes explorou tal idéia, por exemplo, na elaboração do paradoxo da
poupança, na análise da formação das expectativas e na incorporação do efeito
multiplicador. Destaca-se que a complexidade do sistema econômico, segundo a
perspectiva de Keynes, começa com a complexidade do ser humano. Por fim, sustenta-se
que a visão de Keynes do sistema econômico como um organismo complexo teve a
influência do filósofo G. E. Moore.
Palavras-chave: Keynes, John Maynard; Complexidade; Auto-organização.
Abstract
48
Keynes’ view of the economic system as a complex organic whole
This paper claims that some elements of the complexity approach, which has been
recently applied to economics, were already contained in Keynes’ economics, and argues
for the fecundity of an interaction between them. One of the central ideas of the
complexity approach is that individual actions have unintended overall consequences as a
result of a self-organization process, which allows the functioning of the system. Keynes
played around with the idea of unintended consequences of individual actions, for
instance, in the formulation of the paradox of parsimony, in the analysis of the
expectations formation, and in the inclusion of the multiplier effect. It is argued that the
complexity of the economy, from Keynes’ perspective, is firstly related to the complexity
of the human being. Also, it is suggested that Keynes’ view of the economy as a complex
organism was influenced by the philosopher G. E. Moore.
Key words: Keynes, John Maynard; Complexity; Self-organization.
JEL B19, B15.
A economia política da população: poder e demografia no pensamento econômico
britânico do século XVII
Carlos E. Suprinyak
Resumo
Em seus escritos sobre a “governamentalidade”, Foucault argumenta que a filosofia
política, durante o início do período moderno, perpetrou uma mudança gradual no objeto
de exercício do poder, deixando de lado o território para concentrar-se sobre a
população. Neste artigo, buscamos associar essa idéia com o pensamento econômico
britânico do século XVII, em que noções de gerência populacional estão sempre
presentes – primeiramente com autores do início do século como Mun e Misselden,
evoluindo então ao longo das décadas seguintes em estreita relação com doutrinas como a
“aritmética política” vislumbrada por Petty e culminando no uso extensivo por parte de
Davenant das estatísticas demográficas de Gregory King. Além disso, tentamos expor a
ligação entre temas populacionais e alguns conceitos-chave então utilizados, mostrando
que esses temas não possuíam motivação meramente militar, mas sim derivavam de uma
percepção do trabalho como força criativa, à qual podemos associar os rudimentos de
uma teoria do valor-trabalho.
Palavras-chave: Mercantilismo; População; Século XVII; Teoria do trabalho como base
no valor; Petty, William.
Abstract
The political economy of demographic management: power and population in XVII
century British economic thought
In his lectures on governmentality, Foucault argued that Early Modern Period’s political
theorizing was characterized by a gradual change in the object of political power, from
territories to populations. We try to link this idea to the development of seventeenthcentury British economic thought, in which notions of population management are
49
constantly present – beginning with early pamphleteers like Mun and Misselden,
developing along the subsequent decades in a close relationship with doctrines such as
the “political arithmetic” envisaged by Petty, and culminating in the extensive use made
by Davenant of the demographic statistics compiled by Gregory King. Moreover, we try
to expose the connection between demographic themes and some key concepts then
adopted, in an effort to show that they were not mere subsidiaries to military concerns,
but instead were a direct corollary to a widespread notion of labor as a creative force –
arguably the rudimentary origins of a labor theory of value.
Key words: Mercantilism; Population; Seventeenth century; Labor theory of value;
William Petty.
JEL B110; N330; J180; I380; J680.
Persistência versus mudança estrutural da especialização tecnológica do Brasil
Ana Urraca Ruiz
Resumo
Este trabalho tem como objetivo identificar a ocorrência e direção da mudança na
especialização tecnológica brasileira entre os períodos pré e pós-abertura, assim como a
natureza de tais mudanças. Utilizando dados da Oficina Européia de Patentes entre 1978
e 2005 para três grupos de países (líderes, asiáticos e latino-americanos), o artigo
confirma um forte dinamismo da atividade inovadora do Brasil entre períodos (19781990 e 1991-2005) que o levou a especializar-se em campos técnicos com oportunidades
tecnológicas dinâmicas e sair de campos técnicos que se mostraram estagnados. Sem
embargo, o país ainda não conseguiu desenvolver competências relevantes em
importantes segmentos com elevada oportunidade tecnológica. O artigo revela, ademais:
i) um realinhamento da estrutura tecnológica brasileira após a abertura, mais próxima dos
seus vizinhos latino-americanos e mais distante dos líderes e asiáticos; e ii) o efeito da
acumulação tecnológica nos países líderes se traduz na manutenção das competências
desenvolvidas no passado (persistência), enquanto, para os países seguidores, a
persistência se revela como a dificuldade de entrar em campos técnicos onde não houve
desenvolvimento de capacitação tecnológica.
Palavras-chave: Brasil – Inovação tecnológica; Países líderes e seguidores; Patentes.
Abstract
Persistence vs. structural change in the technological specialization of Brazil
Using data from European Patent Office (1978-2005) related to three groups of countries
(leaders, Asians and Latin-Americans), this paper aims to identify the structural change
of Brazilian technological specialization and its nature between the two periods, pre and
post commercial liberalisation. The paper confirms these structural changes with three
results; i) a path of diversification of Brazilian technical base towards technologies with
dynamic, but low, technological opportunities; (ii) an approximation with LatinAmerican technological specialization pattern; and (iii), a different effect of technological
accumulation between leaders and followers. For leaders, accumulation means
50
persistence of competences. For followers, that means the impossibility of entry in
technical fields where there are not developed any competences.
Key words: Brazil – Technological specialization; Leaders and followers countries;
Patents.
JEL O14, O33, O54.
Inovação tecnológica na indústria automobilística: características e evolução recente
Enéas Gonçalves de Carvalho
Resumo
O objetivo principal deste artigo é analisar as características básicas da evolução recente
do processo de inovação tecnológica na indústria automobilística. A hipótese de trabalho
é que estariam ocorrendo mudanças na intensidade do processo de inovação técnica nessa
indústria. O ponto de partida é a observação de que, nos últimos anos, tem havido na
indústria automotiva – provavelmente em decorrência da intensificação da concorrência
setorial e de uma maior oportunidade tecnológica – tanto uma ampliação dos gastos em
P&D quanto uma crescente incorporação da microeletrônica (nos produtos e nos
processos produtivos). Finalmente, são feitas também algumas considerações procurando
relacionar os resultados obtidos neste artigo com a discussão do processo de de-maturity
(rejuvenescimento) industrial, proposto por Abernathy e outros autores.
Palavras-chave: Brasil – Indústria automobilística; Inovação tecnológica; Empresas
multinacionais; Competitividade internacional.
Abstract
Technological innovation in the automotive industry: features and recent evolution
The main goal of this article is to analyze the recent evolution of the technological
innovation process in the automobile industry. A provisional assumption is that could be
happened changes on the auto industry technical innovation process. The starting point is
the observation that, in the last years, there have been both – probably as consequence of
the sectorial competition intensification and the higher technological opportunity – an
amplification of the expenses in R&D as well as an increasing incorporation of the
microelectronics, in the products and in the productive processes, by the automobile
industry. Finally, some considerations are made, aiming at relating the obtained results in
this article with the discussion of the de-maturity industrial process proposed by
Abernathy and other authors.
Key words: Brazil – Automobile industry; Technological innovation; Multinational
firms, International competitiveness.
JEL F230, L620, O320.
Política, agricultura e a reconversão do capital do tráfico transatlântico de escravos
para as finanças brasileiras na década de 1850
Artur Vitorino
51
RESUMO
O ARTIGO ENFOCA COMO, APÓS 1850, COM A CESSAÇÃO DO TRÁFICO
TRANSATLÂNTICO DE AFRICANOS ESCRAVOS, O CAPITAL, ANTES
ENGATADO NESSE NEGÓCIO, PASSOU A IRRIGAR O MEIO CIRCULANTE
(A MOEDA E O CRÉDITO), REFORÇANDO, ASSIM, A ECONOMIA DE
MERCADO JÁ EXISTENTE NA CORTE IMPERIAL, MAS, A PARTIR DE
ENTÃO, COM FORÇA PARA CONFIGURAR NESTA CIDADE UMA
ECONOMIA URBANA DE PROFUNDAS CONSEQÜÊNCIAS PARA OS
AGRICULTORES ESCRAVISTAS DO VALE DO PARAÍBA LIGADOS AO
COMÉRCIO EXTERIOR, E DEPENDENTES DO CRÉDITO E DA MOEDA ALI
ALOCADOS. O ASSENTAMENTO URBANO DO CAPITAL DOS
MERCADORES NEGREIROS FOI DELIBERADO PELO PARTIDO
CONSERVADOR.
Palavras-chave: Capital financeiro; Economia nacional; Tráfico de escravos; Brasil –
Século XIX; Agricultura.
Abstract
Politics, agriculture and the reconversion of the transatlantic slave trade capital to
Brazilian finances in 1850’
The article emphasizes how, after 1850, with the cessation of the transatlantic African
slave trade, the capital, rather linked in this business, passed to irrigate the finance capital
(the coin and the credit), reinforcing, then, the trade economy also extant in the Imperial
Court but, hereafter, stronger enough to build in this city a urban economy with
profoundest consequences to the farms of the Vale do Paraíba who used slaves, were
linked in the foreign trade, and were dependent of the credit and of the coin allocated
there. The urban settlement of the black slave trade capital was deliberate by the
Conservative Party.
Key words: Finance capital; National economy; Black slave trade; Brazil – Century XIX;
Agriculture.
JEL N26, R11.
A polarização da qualidade do emprego na agricultura brasileira no período 1992-2004
Otávio Valentim Balsadi
José Francisco Graziano da Silva
Resumo
O artigo analisou a polarização dentro do mercado de trabalho assalariado na agricultura
brasileira no período 1992-2004. Para a análise, foram selecionados vários indicadores e
construído um Índice de Qualidade do Emprego (IQE) para os empregados permanentes e
temporários, segundo o local de moradia, com base nos dados da Pesquisa Nacional por
Amostra de Domicílios (PNAD). A polarização da qualidade do emprego agrícola
52
mostrou-se evidente no grau de formalidade do trabalho, nos rendimentos médios
mensais recebidos, no nível educacional e nos auxílios recebidos pelos empregados. Em
geral, a melhor qualidade do emprego foi verificada para os empregados permanentes das
principais commodities nas regiões de agricultura mais dinâmica.
Palavras-chave: Mercado de trabalho; Trabalho assalariado; Polarização; Agricultura;
Brasil.
Abstract
The polarization of the employment quality in Brazilian agriculture: 1992-2004 period
The article analyzed the polarization in the salaried labor market in Brazilian agriculture
over 1992-2004. For the analysis, some indicators was selected and an Employment
Index Quality (EQI) was built for the permanent and temporary workers resident in rural
and urban areas of Brazil, based on the National Household Sample Survey (PNAD) data.
The results showed that polarization of the agricultural employment quality was present
in the employment degree of formality, main work income, employees' educational level
and benefits received by the employees. Also, the data showed better employment
conditions for the permanent workers occupied in the commodities vis-à-vis the
traditional domestic ones.
Key words: Labor market; Salaried work; Polarization; Agriculture; Brazil.
JEL J21, J23, J43.
Empresas multinacionais e desempenho comercial do Brasil: uma revisão da
literatura
Carlos A. Cinquetti
Resumo
Fazemos uma releitura dos estudos empíricos sobre empresas multinacionais (EMNs) e
comércio exterior no Brasil a partir dos modelos teóricos e empíricos de comércio
internacional com firmas multinacionais. Percebe-se que aqueles estudos não examinam
como características econômicas do país (Brasil) condicionaram a emergência e tipo das
EMNs e, assim, seus respectivos impactos sobre comércio exterior. Conseguem isolar,
nas análises de impacto comercial, evidências dos serviços tecnológicos das estrangeiras,
relativamente às domésticas do mesmo setor, mas não examinam se essas firmas se
concentraram ou não em atividades com vantagens comparativas no país, o que seria
crucial para determinar seu impacto comercial comparativo.
Palavras-chave: Empresas multinacionais – Brasil; Vantagem comparativa (Comércio);
Inovações tecnológicas.
ABSTRACT
53
MULTINATIONAL ENTERPRISES AND TRADE PERFORMANCE IN BRAZIL: A
REVIEW OF THE LITERATURE
We revisit the empirical research about multinational firms (MNFs) and foreign trade in
Brazil from the perspective of the theoretical models of international trade with MNFs,
and their empirical tests. We observed that the cited studies did not examine how the
economic characteristics of Brazil conditioned the emergence and types, as well as the
corresponding impacts of the MNFs on foreign trade. The models analyzing trade
impacts succeed to single out the MNF’s technology service, as compared to same-sector
domestic firms, but do not examine whether or not these firms concentrated in activities
with comparative advantages, crucial to determine the comparative trade contribution
from these firms.
Key words: Multinational firms – Brazil; Comparative advantage; Technological
innovation.
JEL F13, F23, 014.
Uma introdução à história econômica
Igor Zanoni Constant Carneiro Leão
Anna Luiza Barbosa Dias de Carvalho
Resumo
Este texto é um pequeno ensaio acerca do estudo e do exercício da história econômica,
especialmente visando aos estudantes dos primeiros anos dos cursos de economia. Seu
objetivo é contribuir para a compreensão de uma área difícil da economia na qual, no
Brasil, tivemos poucos, mas grandes mestres, como Caio Prado Jr. e Celso Furtado.
Começa-se por uma discussão das próprias áreas mais consagradas do pensamento
econômico para deter-se na contribuição do pensamento marxista na reflexão sobre a
história econômica. Finalmente, fazem-se algumas considerações sobre a formação
econômica brasileira e sua atualidade de molde a estimular o debate.
Palavras-chave: História econômica; Pensamento econômico.
Abstract
An introduction of economic history
This text is a small essay about the study and the practic of the Economic History,
specially aiming the students in the first years of the Economics courses. Its objective
is a contribution to the understanding of a difficult area of Economics, but where in
Brazil we have had few but great masters such as Caio Prado Jr. and Celso Furtado.
We begin by a discussion of its areas consecrated to the Economic Thinking to detain
ourselves in the contribution of the Marxist thinking in a reflection about Economic
History. Finally, we make some considerations about the economic formation in
Brazil and its actuality in a way to stimulate the debate.
Key words: Economic history; Economic thought.
JEL N01.
54
Critical Perspectives on International Business
http://www.emeraldinsight.com/cpoib.htm
TABLE OF CONTENTS
Editorial
Authors: George Cairns, Joanne Roberts
View HTML
Articles
Why moral failures precede financial crises
David Weitzner, James Darroch (pp. 6-13)
Keywords: Banking, Ethics, Financial markets, Governance, United States of America
ArticleType: Conceptual paper
View HTML | View PDF (70 KB)
Paper assets, real debts: An ecological-economic exploration of the global economic
crisis
Giorgos Kallis, Joan Martinez-Alier, Richard B. Norgaard (pp. 14-25)
Keywords: Ecology, Economic depression, Economic theory, Recession
ArticleType: Conceptual paper
View HTML | View PDF (86 KB)
The global financial crisis: an institutional theory analysis
Suhaib Riaz (pp. 26-35)
Keywords: Financial institutions, Organizational structure, Recession
ArticleType: Viewpoint
View HTML | View PDF (70 KB)
New thinking on the financial crisis
Roy E. Allen, Donald Snyder (pp. 36-55)
Keywords: Credit, Financial markets, Money, Recession
ArticleType: Viewpoint
View HTML | View PDF (237 KB)
The crisis: a return to political economy?
Loong Wong (pp. 56-77)
Keywords: Capitalist systems, Education, Political economy, Politics, Recession, United
States of America
55
ArticleType: Viewpoint
View HTML | View PDF (139 KB)
Financial crisis, activist states and (missed) opportunities
Federico Caprotti (pp. 78-84)
Keywords: Communication, Credit, Financial markets, International business, Recession
ArticleType: Viewpoint
View HTML | View PDF (61 KB)
The Kindleberger-Aliber-Minsky paradigm and the global subprime mortgage meltdown
William V. Rapp (pp. 85-93)
Keywords: Economic booms, Financial markets, Mortgage default, Recession, United
States of America
ArticleType: Viewpoint
View HTML | View PDF (73 KB)
Wrong assumptions in the financial crisis
Manuel B. Aalbers (pp. 94-97)
Keywords: Credit, Loans, Mortgage default, Recession, Regulation, United States of
America
ArticleType: Viewpoint
View HTML | View PDF (47 KB)
Regulation and subprime turmoil
Arvind K. Jain (pp. 98-106)
Keywords: Derivative markets, Financial markets, Recession, Regulation, Securities
markets, United States of America
ArticleType: Viewpoint
View HTML | View PDF (191 KB)
An economic wonderland: derivative castles built on sand
Jon Cloke (pp. 107-119)
Keywords: Derivative markets, Financial markets, Recession
ArticleType: Viewpoint
View HTML | View PDF (138 KB)
From demutualisation to meltdown: a tale of two wannabe banks
Robin Klimecki, Hugh Willmott (pp. 120-140)
Keywords: Banks, Building societies, Debt, Mortgage default, United Kingdom
ArticleType: Viewpoint
View HTML | View PDF (132 KB)
Building resilience to international financial crises: lessons from Brazil
André Filipe Zago de Azevedo, Paulo Renato Soares Terra (pp. 141-156)
Keywords: Brazil, Emerging markets, Financial markets, International finance
56
ArticleType: Viewpoint
View HTML | View PDF (228 KB)
A time to return to Keynes
Steven Pressman (pp. 157-161)
Keywords: Debts, Economic depression, Fiscal policy, Housing, Keynesian economics
ArticleType: Conceptual paper
View HTML | View PDF (51 KB)
International business and the crisis
Jan Toporowski (pp. 162-164)
Keywords: Financial markets, Multinational companies, Recession
ArticleType: Viewpoint
View HTML | View PDF (40 KB)
Volume 52 Number 3 / May - June 2009 of Challenge is now available on the
mesharpe.metapress.com web site at http://mesharpe.metapress.com.
This issue contains:
Letter from the Editor
Jeff Madrick
p. 3
Iceland as Icarus
Robert Wade
p. 5
Their Great Depression and Ours
James Livingston
p. 34
How to Fight (or Not to Fight) a Slowdown
Eckhard Hein, Achim Truger
p. 52
Has the Rise in American Inequality Been Exaggerated?
Robert J. Gordon
p. 92
The Great Financial Crisis: Causes and Consequences, by John Bellamy
Foster and Fred Magdoff
p. 121
57
Michael Meeropol
Postscript on the G20 Summit
Mike Sharpe
p. 130
Friends of Associative Economics Bulletin provides an overview of what is going on
around the world in the associative economics movement. The bulletin is viewable as a
webpage at www.cfae.biz/fae-bulletin/09May/
May 2009
1) What is real in Economics?
2) Forthcoming Events
3) Associate! May 2009 - Concerning Rights
4) How to Build a New Economic Model - A Report
5) Money Means Not Money
1) What is Real in Economics?
In usual discourse the 'real' economy is contrasted to the 'financial', and not always with
the connotation that finance is unreal: rather it has a 'reality' different to that of the 'real'
economy.
In his 'twin value theory' Rudolf Steiner describes how values arise:
1. both through the application of labour to land - V1, to produce goods for example,
what we naturally think of as real.
2. and through the application of intelligence to labour - V2, akin to the realm of
finance
Work always involves an element of each - the problem arises when one prefers one to
the other. V1 is connected with tangible work (land transformed by labour), V2 is
connected with intangible work (labour saved by insight). One is not more real than the
other.
It is often unclear in everyday discourse whether 'real' is meant philosophically, in
which case 'nominal' would be its opposite (as when speaking, for example, of real and
nominal interest rates ), or in some other sense. Presumably the reference must be to
some economically 'not real' thing such as ... a right or an idea.
The red thread of the May issue of Associate! concerns our understanding of rights in
modern economic life. Rights are usually thought of and treated as commodities, but
this disguises both their true social nature and deeper economic effects. While a goods
58
market need not raise concerns, a rights market (for what else is the property market) is
quite another kettle of fish.
2) Forthcoming Events

Inner and Outer Aspects of Associative Economics: 17 May & 21 June /
Rudolf Steiner House, London
3) Associate! May 09 - Concerning Rights
Click image to subscribe
Lead: Capitalised Debt and Compulsory Gift. Michael Spence
A Sign of Our Time: It?s Time to Explode the Myth of the Shareholder.
Feature: Sovereignty, Land and Succession. Lowell Reinheimer and Arthur Edwards.
Archive: Land in a World Economy. Stephen Vallus
21 Policies: Towards True Pricing
Glossary: Zero-sum Economics
AE Hero: Tom Greco's The End of Money and The Future of Civilisation
Accounting Corner: Valuing Land
4) How to Build a New Economic Model
Thoughts on the recent Colours of Money Seminar (Stroud UK, April 2009 - Catherine
Rayne)
There seems to be a general feeling through all levels of society that the recent events
in economic history could mark a real potential space for change and a movement in a
different direction. While many people want and feel the need for deep and sustained
reform, far removed from the quick fixes and patching up currently offered by
governments, there is very little inspiration coming from academia or elsewhere on
how to build a new social or economic model which values all peoples and the planet
equally ...
Read the report
5) Money Means Not Money
A seminar is being convened this autumn to celebrate the centenary of the publication
of Hartley Withers' classic work The Meaning of Money. Steiner referred several times
to Withers, describing him as a discriminating observer whose book was 'the best that
59
had been written on [the] subject and which [was] the outcome of real insight into
social conditions.'
The seminar will bring together monetary economists and financial journalists: it is
accompanied by an essay, Money Means Not Money, to published in the June issue of
Economic Affairs - which looks at the evolution of money from a 'physical' to a 'fiscal'
phenomenon and indicates that Steiner?s idea of money-as-bookkeeping differentiated
money) offer a further evolutionary step.
Heterodox Books and Book Series
From Economics Imperialism to Freakonomics
The Shifting Boundaries between Economics and other Social Sciences
By Dimitris Milonakis, Ben Fine
University of Crete, Greece; School of Oriental and African Studies, University of London, UK
Click Here to Purchase
Is or has economics ever been the imperial social science? Could or should it ever be so? These
are the central concerns of this book.
View Inside
60
It involves a critical reflection on the process of how economics became the way it is, in terms of
a narrow and intolerant orthodoxy, that has, nonetheless, increasingly directed its attention to
appropriating the subject matter of other social sciences through the process termed "economics
imperialism". In other words, the book addresses the shifting boundaries between economics and
the other social sciences as seen from the confines of the dismal science, with some reflection on
the responses to the economic imperialists by other disciplines.
April 2009 / 206 pages
978-0-415-42323-6 Paperback £29.99 Click Here to Purchase
978-0-415-42324-3 Hardback £95.00 Click Here to Purchase
Also Available by the same authors:
From Political Economy to Economics
Method, the social and the historical in the evolution of economic theory
By Dimitris Milonakis, Ben Fine
University of Crete, Greece; School of Oriental and African Studies, University of London, UK
Click Here to Purchase
Economics has become a monolithic science, variously described as formalistic and autistic with
neoclassical orthodoxy reigning supreme. So argue Dimitris Milonakis and Ben Fine in this new
major work of critical recollection. The authors show how economics was once rich, diverse,
multidimensional and pluralistic, and unravel the processes that lead to orthodoxy’s current
predicament.
View Inside
61
October 2008 / 368 pages
978-0-415-42321-2 Paperback £32.99 Click Here to Purchase
978-0-415-42322-9 Hardback £120.00 Click Here to Purchase
These books are part of the series: Economics as Social Theory
Social theory is experiencing something of a revival in economics. Economists are again
addressing such issues as the relationship between agency and structure, between economy and
the rest of society, and between Inquirer and the object of Inquiry. There is renewed interest in
elaborating basic categories such as causation, competition, culture, discrimination, evolution,
money, need, order, organization, power, and probablility.
This series facilitates this revival. In contemporary economics the label 'theory' has been
appropriated by a group that confines itself to largely asocial, ahistorical, mathematical
'modelling'. Economics as Social Theory thus reclaims the 'theory' label, offering a platform for
alternative, rigorous, but broader and more critical conceptions of theorizing.
Click here to view other titles in this
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NOTICE: An inexpensive paperback edition of my JOHN MAYNARD KEYNES book
will be available beginning in May 2009—just in time for you to order copies for class
room use in courses on Macroeconomics. This latest paper back version has an
additional chapter indicating how Keynes’s analysis that are presented in the
earlier chapters of the book provides the explanation for the global financial and
economic crisis that we are currently experiencing.
JOHN MAYNARD KEYNES, by Paul Davidson (Palgrave/Macmillan, London and New
York, 2007) ISBN# 978-02302290204
“Global imbalances, the unshackling of capital, the precarious state of modern capitalism:
rarely has the world of economics been in more need of the thoughts of John Maynard
Keynes. Although Keynes is no longer with us, this book is the next best thing. Paul
Davidson is the leading expert on Keynes and Keynesianism and his book should be read
by anybody who wants to understand the world as it is, rather than as the economic text
books say it ought to be.
” - Larry Elliott, Economics Editor, The Guardian
“Davidson convincingly shows how Keynes's radical assault on classical economic
theory was undermined by mainstream interpreters anxious to make his doctrines
politically acceptable. Keynes's own ‘general theory' is compellingly explained; its
obfuscators attacked with Davidson's familiar panache.” - Lord Skidelsky, author of John
Maynard Keynes 1883-1946: Economist, Philosopher, Statesman
“This could be the best one-volume treatment of Keynes's economics since Keynes
himself. Clear, logical and faithful, Paul Davidson introduces the real Keynes to a new
generation. And do we ever need him.” - James K. Galbraith, The University of Texas at
Austin and Levy Economic
Institute
“Paul Davidson's fascinating, encyclopaedic book captures the drama of the appearance
of the General Theory, illuminates the controversies still surrounding it, and passionately
defends Keynes's radical innovations in economic theory and policy. It is high time for
economists and policymakers to go back to Keynes's own words, whose power Davidson
so effectively articulates.” Peter L. Bernstein, President of Peter L. Bernstein, Inc., and
author of Against the Gods: The Remarkable Story of Risk and also Capital Ideas
Evolving
Paul Davidson
Editor, Journal of Post Keynesian Economics
Bernard Schwartz Center for Economic Policy Analysis
The New School
63
79 Fifth Avenue, 11th Floor
New York, New York 10003
phone and fax number: (561)369-1951
email: pdavidson@utk.edu
http://econ.bus.utk.edu/davidson.html
Book Reviews
The HEN-IRE-FPH Project for Developing Heterodox Economics and Rethinking
the Economy Through Debate and Dialogue
The Heterodox Economics Newsletter, The International Initiative for Rethinking the
Economy (IRE), and the Charles Leopold Mayer Foundation for the Progress of
Humankind (FPH) (www.fph.ch) have undertaken a joint project to promote the
development of heterodox economics. It involves publishing in the Newsletter reviews,
analytical summaries, or commentary of articles, books, book chapters, theses,
dissertations, government reports, etc. that relate to the following themes: diversity of
economic approaches, regulation of goods and services, currency and finance, and trade
regimes. These themes relate to heterodox economics and to the open and pluralistic
intellectual debates in economics. For further information about the project and queries
about reviewing, contact Fred Lee (leefs@umkc.edu).
Heterodox Graduate Program and PhD Scholarships/Positions
The Department Economics of Innovation, Delft University of Technology is inviting
applicants for a 4-year PhD project on
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“Productivity, Employment and Competitiveness:
A Cumulative Growth Model Analysis for 20 OECD Countries (1960-2005)”
According to the standard theory of equilibrium unemployment (or NAIRU theory), persistent
unemployment is caused by “excessive” labour market regulation, whereas aggregate demand,
capital accumulation and technological progress have no lasting effects on unemployment. The
aim of this project is to show that the NAIRU model is a special case of a larger model of equilibrium unemployment, in which aggregate demand, investment and endogenous technological
progress do have long-term effects. To do so, a cumulative growth model will be used to analyse
the effects of labour market regulation on growth, productivity, (un-) employment and competitiveness. This model builds upon post-Keynesian tradition ― Bhaduri and Marglin (1990), Taylor
(1991, 2006), Bhaduri (2006), Naastepad (2006) and Storm and Naastepad (2007, 2008) ― and
integrates (available) demand, productivity and labour market regimes. This framework can be
used to show that the NAIRU is a special case of a more general model which (i) allows demand
to influence equilibrium unemployment and (ii) endogenizes productivity growth and technological change. The candidate will apply this model to 20 OECD countries (1960―2005), addressing
two questions:
(1) What are the determinants of structural unemployment?
(2) Are there differences in demand, productivity and employment regimes between (groups of)
OECD countries and are these differences associated with differences in macroeconomic
performance?
A longer description of the project is available upon request; please contact dr. Naastepad or dr.
Storm at the addresses given below.
References
Bhaduri, A. and Marglin, S. (1990) “Unemployment and the real wage: the economic basis for
contesting political ideologies.” Cambridge Journal of Economics 14 (), 375-393.
Bhaduri, A. (2006) Endogenous economic growth: a new approach, Cambridge Journal of
Economics 30 (1), 69-84.
Naastepad, C.W.M. (2006) Technology, demand and income distribution: A cumulative causation
model with an application to the Dutch productivity slowdown, Cambridge Journal of
Economics, 30 (3), 403-434.
Storm, S. and C.W.M. Naastepad (2007), Why Labour Market Regulation May Pay Off: Worker
Motivation, Co-ordination and Productivity Growth, Economic and Labour Market Paper
2007/4, Employment and Labour Market Analysis Department, International Labour
Organization, Geneva: ILO.
Storm, S. & C.W.M. Naastepad (2007) OECD demand regimes (1960―2000), Journal of PostKeynesian Economics 29 (2) 211―246.
Storm, S. & C.W.M. Naastepad (2007) It is high time to ditch the NAIRU, Journal of PostKeynesian Economics 29 (4) 531―554.
Storm, S. & C.W.M. Naastepad (2008) The NAIRU reconsidered: Why labour market deregulation may raise unemployment, International Review of Applied Economics 22 (3).
Taylor, L.(1991) Income Distribution, Inflation and Growth. Lectures on Structuralist Macroeconomic Theory. Cambridge, Mass.: The MIT Press.
Taylor, L. (2004) Reconstructing Macroeconomics, Harvard University Press.
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Requirements
University graduate.
We are looking for an open-minded (macro-) economist with some training in statistics and econometrics (further training possibilities will be provided). The candidate should have a strong
interest in (post-Keynesian) macro-economic theory and its policy implications.
Conditions of employment
Estimated gross salary per month: ca. 1900 Euro (starting salary).
Employment basis: temporary contract for a 4 year period, with full inclusion in the Dutch social
security system (including a good pension scheme).
Starting date: Summer 2009.
Additional information & application:
Please send your CV to:
Dr. C.W.M. Naastepad (c.w.m.naastepad@tudelft.nl) or
Dr. S. Storm (s.t.h.storm@tudelft.nl) or
Prof. Alfred Kleinknecht (a.h.kleinknecht@tudelft.nl).
Heterodox Web Sites and Blog Sites
Economics for Equity and the Environment Network (E3) has launched a
new website, www.RealClimateEconomics.org, to demonstrate the weight of
economic analysis in the peer reviewed literature that supports
immediate, large-scale policy responses to the climate crisis.
The Real Climate Economics website offers a reader's guide to the real
economics of climate change, an emerging body of scholarship that is
consistent with the urgency of the problem as seen from a climate
science perspective.
As the climate policy debate intensifies, economic analysis is playing
an increasingly central role. The case for inaction is no longer argued
on the grounds of skepticism about the science; instead, some have
claimed that it will be too expensive to take more than token
initiatives. There is now extensive economic analysis that challenges
and refutes this idea. The peer-reviewed articles included on this
website demonstrate that:
*
Risk and uncertainty are fundamental to the climate problem;
*
Ethics and equity are inseparable from economic analysis of
climate
change
*
Marginal analysis of small changes and modest adjustments of
market-based instruments are inadequate to the task of understanding
and protecting the earth's climate.
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E3 is a national network of economists doing applied economic research
on environmental issues with a social equity focus. For more about E3's
programs and to get involved, please visit our website at
www.e3network.org
Queries from or for Heterodox Economists
Wanted papers on the History of Economic Thought from a Non-Western
Perspective
I wonder if any heterodox economists can steer me to some web-sites where I might be
able to find high quality papers that are in the public domain, and that talk about the
history of economic thought from a non-western perspective; especially papers on nonWestern (Latin American, Indian, Moslem, etc.) thinkers and ideas. This is to fill in one
serious gap in the “Social Science Library” which is described below.
The Social Science Library: Frontier Thinking in Sustainable Development and
Human Well-Being is being developed to send on electronic media that can be shipped
inexpensively around the world; our intention is to get it into all post-secondary-school
libraries in 137 countries, selected on the basis of low per capita income and generally
poor Internet access.
The contents of the Social Science Library include a bibliography of over 9,000
journal articles and book chapters. Of these about one-third will be available, as full-text
articles, on the CDs or thumb-drives (MB USB drives) on which the SSL will be
shipped. If you would like to see what the Social Science Library looks like, and how it
works, an early version can be seen at www.socialsciencelibrary.org. (See technical
notes, below)
The problem we address is that many institutions of higher learning in less
wealthy countries have extremely limited printed materials in the social sciences –
sometimes only a shelf or two. At the same time, a large number do not yet have
adequate access to the Internet. The technology used in this project overcomes both the
cost of sending printed books and continuing, serious difficulties and costs of Internet
access.
The belief that has informed the development of the Social Science Library is that
the challenges of the 21st century will require educated problem-solving from all parts of
the world, in the social as well as the natural sciences, and not only from the wealthier
countries, where the social sciences have been developed, and which continue to
dominate thought and research in these areas. The project’s goals are:
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·
To further the development of the social sciences in the world’s less-wealthy
nations;
·
To strengthen the ability of social scientists in these countries to influence their
own local policies;
·
To ensure that global debates on the future of the human species will increasingly
include these voices; and
·
To give global attention and emphasis to those social science writings that are
most likely to contribute to understanding and promotion of sustainability and human
well-being.
For many of the recipient institutions the SSL will multiply by a factor of tens, or
even hundreds, the available social science writings. It is designed not only to be used in
libraries, but to be readily copied so that students, teachers, researchers and others can
have their own social science library in their pockets. The format provides a tremendous
wealth of reading materials in anthropology, economics, history, philosophy, political
science, sociology, and social psychology. At the same time, because of its structure and
organization, it is also a superb teaching tool.
Technical notes: Each library will receive the Social Science Library in two forms – a
thumb-drive, and a pair of CDs – so that any student or faculty who can afford to
purchase either of these pieces of hardware can take the blank to the library, quickly copy
the SSL onto it, and become the possessor of his or her own library-in-a-pocket. The
thumb drive version is superior, because it can hold the entire SSL, which will have to be
divided in half to go on two CDs; however we recognize that there will be some users
who can afford a blank CD but not a thumb drive.
The version of the SSL that can be seen on the Web, through the link given above,
is an early one that was developed for a single-CD version that we sent out for testing and
feedback to 21 of the 137 intended recipient countries. When we then modified this build
for the Web site, we formatted in bold articles or chapters that the ultimate users of the
CDs will be able to access in full; however, because of our agreements with publishers,
such access is not available in anything we post on the Internet. The number of bolded
titles shown on this version is only about half of what will be included in the final
products. Note that the final version will also contain significant improvements in the
areas that explain the concept, nature and purpose of the social sciences.
Neva Goodwin, Co-director
Global Development And Environment Institute
Tufts University
www.gdae.org
http://ase.tufts.edu/gdae
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Heterodox Economics Archive Material
DOCUMENTS IN THE HISTORY OF HETERODOX ECONOMICS
For Your Information
New Paper Finds IMF Lending Still Requires
Harmful and Inappropriate Economic Conditions
For Immediate Release: April 21, 2009
Contact: Dan Beeton, 202-239-1460
WASHINGTON, D.C. - The Center for Economic and Policy Research (CEPR)
released a new paper today that finds that the International Monetary Fund (IMF)
is still prescribing inappropriate policies that could unnecessarily worsen
economic downturns in a number of countries. The paper, "Empowering the IMF:
Should Reform be a Requirement for Increasing the Fund's Resources?"
examines conditions tied to the IMF's new lending to El Salvador, Pakistan,
Ukraine and other countries and finds the IMF is requiring macroeconomic
conditions that can unnecessarily exacerbate the effects of the global economic
recession on these countries.
"New funding should not be provided to the IMF unless the institution is subject to
important reforms that will prevent the Fund from continuing and repeating the
serious errors that they made in the last major crises of the 1990s," said Mark
Weisbrot, co-Director of CEPR and lead author of the paper.
Among the harmful conditions cited in the paper are agreements that
unnecessarily tighten fiscal and monetary policy in countries facing declining
output and negative external economic shocks. The IMF has at the same time
advocated the passage of economic stimulus packages and expansionary
monetary policy in developed economies such as the U.S., Europe, and Japan.
"The main purpose of the IMF's lending and the increased resources for the Fund
right now is supposed to be to help low-and middle-income countries do what the
high-income countries are doing - stimulate their economies," said Weisbrot. "It
defeats the purpose to require them to do the opposite."
The authors also find that Fund-supported policies may have contributed to the
vulnerability of countries in the current crisis, as it did in the run-up to the Asian
crisis a decade ago.
The paper concludes that governments allocating new resources to the IMF
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should first ensure that there is sufficient reform of IMF governance and past IMF
practices, and that accountability mechanisms are put in place at the Fund.
Origins of Institutional Economics According to Baylor University Economists
I received the following from a colleague that may be amusing to you:
Baylor University in Waco, Texas devoted its Fall 2007 issue of Baylor Business Review
to a special topic which it apocalyptically christened "Economics Saves the World".
Articles and commentary by its faculty addressed various contemporary issues aimed at a
general audience. Most accounts drew on traditional mainstream concepts except for one
foray into the terminology of institutional economics.
When mentioning conspicuous consumption, readers were told the phrase was
"introducedŠ..by economists Thorstein and Veblen in 1899" (sic) (p. 12). Either so little
respect was given to heterodox approaches by this faculty that the reference was
purposely misstated, the editor was unaware that only one person coined this term, or
perhaps it was believed that Veblen (often inaccurately accused of so many types of
alleged misbehavior) may have suffered from a split personality. Then again, those
devoted to a strictly mainstream approach have seldom demonstrated accuracy in either
their knowledge or interpretation of history.
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