This lively introduction to heterodox economics provides a balanced critique of the standard introductory macroeconomic curriculum. In clear and accessible prose, it explains many of the key principles that underlie a variety of alternative theoretical perspectives (including institutionalist economics, radical economics, Post Keynesian economics, feminist economics, ecological economics, Marxist economics, social economics, and socioeconomics). 2015 Level: beginner Reintroducing Macroeconomics Cohn, Steve Routledge This classic text offers a broader intellectual foundation than traditional principles textbooks. It introduces students to both traditional economic views and their progressive critique. 2015 Level: advanced Economics Howard J Sherman, E. K. Hunt, Reynold F. Nesiba, Phillip O'Hara, Barbara A. Wiens-Tuers Routledge The investigative research conducted by the German weekly newspaper "Die Zeit" and the British Daily Newspaper "The Guardian" includes a research-based critique of carbon trading. 2023 Level: beginner Phantom Offsets and Carbon Deceit Tin Fisher, Hannah Knuth Zeit.de Regression Analysis: A Constructive Critique identifies a wide variety of problems with regression analysis as it is commonly used and then provides a number of ways in which practice could be improved. 2004 Level: advanced Regression Analysis Richard A. Berk SAGE The book is a collection of 51 texts by different scholars and activists, who each adds a dimension/perspective to the topics of degrowth and societal transformation. A societal transformation towards a degrowth society is dependent on a lot of ideas coming together and creating change from various starting points within a society. Therefore, the authors are quite diverse and their contributions vary from being philosophical, natural science based, economic, sociological and so forth. Some are specfiically focused on a concept and others are a more broad critique of e.g., capitalism or growth. 2015 Level: advanced Degrowth Giacomo D'Alisa, Federico Demaria, Giorgos Kallis Routledge How did Britain's economy become a bastion of inequality? In this landmark book, the author of The New Enclosure provides a forensic examination and sweeping critique of early-twenty-first-century capitalism. Brett Christophers styles this as 'rentier capitalism', in which ownership of key types of scarce assets--such as land, intellectual property, natural resources, or digital platforms--is all-important and dominated by a few unfathomably wealthy companies and individuals: rentiers. 2020 Level: beginner Rentier Capitalism Brett Christophers Verso Books In the debate about a sustainable and livable future, the critique of work is an essential perspective. In this contribution, Maja Hoffmann explores the tension between the environmentally harmful effects of work on the one hand and the systematic compulsion of work on the other. 2024 Level: beginner How can post-work (critiques of work) enrich the climate debate? Maja Hoffmann Economists for Future Introduction Economics is by necessity a multi paradigmatic science Several theoretical structures exist side by side and each theory can never be more than a partial theory Rothschild 1999 Likening scientific work to the self coordinating invisible hand of the market Michael Polanyi cautioned strongly against centralized attempts to steer … 2021 Level: beginner Making Many Maps: Why We Need an Interested Pluralism in Economics and How to Get There Patrick Leon Gross Patrick Léon Gross While many are unsatisfied with capitalism and critique it in highly sophisticated ways, there are few concrete proposals for a socialist mode of production that could replace the capitalist one. Daniel E. Saros has developed such a proposal in his book "Information Technology and Socialist Construction – The End of Capital and the Transition to Socialism" which we discuss at length over the course of two episodes. 2020 Level: advanced Daniel E. Saros on Digital Socialism and the Abolition of Capital Jan Groos, Daniel E. Saros Future Histories This episode of the Future Histories Podcast featuring Moira Weigel sets the development of digital capitalism and the right-ward shift in politics and society in relation to one another. It provides a masterful combination of ideology critique and polit-economic analysis grounded in comprehensive knowledge of the digital economy. 2020 Level: advanced Moira Weigel on Palantir, Tech-Nationalism & Aggression in the Life-World Moira Weigel, Jan Groos Future Histories Podcast This paper starts with an evaluation of three common arguments against pluralism in economics: (1) the claim that economics is already pluralist, (2) the argument that if there was the need for greater plurality, it would emerge on its own, and (3) the assertion that pluralism means ‘anything goes’ and is thus unscientific. Pluralist responses to all three arguments are summarized. The third argument is identified to relate to a greater challenge for pluralism: an epistemological trade-off between diversity and consensus that suggests moving from a discussion about ‘pros’ and ‘cons’ towards a discussion about the adequate degree of plurality. We instantiate the trade-off by showing how it originates from two main challenges: the need to derive adequate quality criteria for a pluralist economics, and the necessity to propose strategies that ensure the communication across different research programs. The paper concludes with some strategies to meet these challenges. 2017 Level: beginner Pluralism in economics: its critiques and their lessons Claudius Gräbner, Birte Strunk Journal of Economic Methodology Caring activities are one central element of feminist economists' analysis – also since in particular unremunerated work is a blind spot in mainstream economics and most other economic paradigms. Those focus on the market sphere: activities are considered as productive and as real labour if they are remunerated and market-intermediated. Goods and services are considered as labour if they create a value which can be traded on the market. Feminist Economics remarks that this perspective creates certain dichotomies and consequent devaluations: unproductive – productive; private – public; unpaid – remunerated OR paid less – well paid; female – male; soft work – hard work; caring – rationality. 2016 Level: beginner Reproductive Labour and Care Exploring Economics Exploring Economics The notion that the demand and supply side are independent is a key feature of textbook undergraduate economics and of modern macroeconomic models. Economic output is thought to be constrained by the productive capabilities of the economy - the ‘supply-side' - through technology, demographics and capital investment. In the short run a boost in demand may increase GDP and employment due to frictions such as sticky wages, but over the long-term successive rises in demand without corresponding improvements on the supply side can only create inflation as the economy reaches capacity. In this post I will explore the alternative idea of demand-led growth, where an increase in demand can translate into long-run supply side gains. This theory is most commonly associated with post-Keynesian economics, though it has been increasingly recognised in the mainstream literature. 2020 Level: beginner It’s Demand All the Way Down Cahal Moran Rethinking Economics Feminist economics is a key component of the movement for pluralism in economics and one that has, to some extent, been acknowledged by the mainstream of the profession. It seeks to highlight issues which affect women because (it claims) they have not traditionally been recognised in a field dominated by men. On top of this, it seeks to carve out a space for women in the discipline, both for intrinsic reasons of fairness and diversity and because it means that women’s issues are more likely to be highlighted going forward. 2020 Level: beginner Why Feminist Economics is Necessary Cahal Moran Rethinking Economics Mainstream textbooks present economics as an objective science free from value judgements; that settles disputes by testing hypotheses; that applies a pre-determined body of principles; and contains policy prescriptions supported by a consensus of professional opinion. 2012 Level: beginner The economics anti-textbook Hill, Rod; Myatt, Toni Zed Books Deforestation is estimated to be responsible for about 12-29% of global greenhouse gas emissions. This essay will explore ecological economics as an alternative lens through which to approach forest conservation and the acceleration of climate change. 2018 Level: beginner Ecological Economics: A Solution to Deforestation? Maike Pfeiffer Pluralist Economics Fellowship Complexity economics focuses on interactions and interdependencies between individuals and structures in economic systems. Those are systems of organised complexity. High importance is given to the analysis of networks. Complexity Economics     Environmental catastrophe looms large over politics: from the young person’s climate march to Alexandria Ocasio-Cortez’s Green New Deal, increasing amounts of political space are devoted to the issue. Central to this debate is the question of whether economic growth inevitably leads to environmental issues such as depleted finite resources and increased waste, disruption of natural cycles and ecosystems, and of course climate change. Growth is the focal point of the de-growth and zero-growth movements who charge that despite efficiency gains, increased GDP always results in increased use of energy and emissions. On the other side of the debate, advocates of continued growth (largely mainstream economists) believe that technological progress and policies can ‘decouple’ growth from emissions. 2020 Level: beginner To Grow or Not to Grow? Cahal Moran Rethinking Economics Along with addressing core conceptual issues in defining heterodox economics, we will cover in some detail five heterodox traditions in economics: Marxian Economics, Institutional Economics, Post-Keynesian Economics, Feminist Economics, and Ecologi-cal Economics. In the first class meeting, we discuss the structure and goals of the course, as well as the expectations and requirements from the students. In addition, we will discuss the concept of heterodoxy in economics, along with discussing the concepts and key issues in mainstream and neoclassical economics. 2020 Level: advanced Heterodox Economics Alyssia Schneebaum Exploring Economics p>Twenty-first-century economists will have to understand and improve a post-Cold War world in which no single economic theory or system holds the key to human betterment. Heterodox economists have much to contribute to this effort, as a wave of pluralism spawns new lines of research and new dialogues among non-mainstream economists. 2008 Level: advanced Future Directions for Heterodox Economics John T. Harvey, Robert F. Garnett, Robert F. Garnett, Jr. University of Michigan Press Economic theory is currently at a crossroads, where many leading mainstream economists are calling for a more realistic and practical orientation for economic science. Indeed, many are suggesting that economics should be reconstructed on evolutionary lines.
This book is about the application to economics of evolutionary ideas from biology. 1996 Level: advanced Economics and Evolution Geoffrey Martin Hodgson University of Michigan Press Marxian Political Economy focuses on the exploitation of labour by capital. The economy is not conceived as consisting of neutral transactions for exchange and cooperation, but instead as having developed historically out of asymmetric distributions of power, ideology and social conflicts. Marxian Political Economy     Neoclassical economics focuses on the allocation of scarce resources. Economic analysis is mainly concerned with determining the efficient allocation of resources in order to increase welfare. Neoclassical Economics     Beyond Neoclassical Economics is a remarkable new introduction to the main heterodox schools of economic thought which examines their main concepts and their critiques of mainstream theory. 1996 Level: beginner Beyond Neoclassical Economics Fred E. Foldvary Edward Elgar Despite the important methodological critiques of the mainstream offered by heterodox economics, the dominant research method taught in heterodox programmes remains econometrics. 2016 Level: advanced Handbook of Research Methods and Applications in Heterodox Economics Frederic S. Lee, Bruce Cronin Edward Elgar Publishing Mainstream inflation theories in economics do little to explain the recent acceleration in price increases. The associated economic policy recommendations further increase the misery of low-income groups. 2023 Level: beginner The inflation conundrum Thomas Sablowski Exploring Economics Understanding international trade is central to economics and is currently a hot political issue. It’s an area where popular perceptions of mainstream economics are low, since they have historically missed some important downsides of trade agreements, especially the hollowing out of former manufacturing hubs in the Western world. et economists have for long time had a theory of trade with an impressive amount of scientific clout behind it: the gravity trade model. 2020 Level: beginner A Theory of Enormous Gravity Cahal Moran Rethinking Economics Neoclassical Economics imposed itself over the past decades as the core of mainstream economics, largely influencing academia and policy making. 2020 Level: beginner Clips on Climate: Neoclassical Economics Henrika Meyer Rethinking Economics Post-Keynesian and heterodox economics challenge the mainstream economics theories that dominate the teaching at universities and government economic policies. And it was these latter theories that helped to cause the great depression the United States and the rest of the world is in. 2012 Level: advanced In Defense of Post-Keynesian and Heterodox Economics Lee, Frederic S.; Lavoie, Marc Routledge When Santa Fe Institute Scientists first started working on economics more than thirty years ago, many of their insights, approaches, and tools were considered beyond heterodox. These once-disparaged approaches included network economics, agents of limited rationality, and institutional evolution—all topics that are now increasingly considered mainstream. 2020 Level: expert Complexity Economics W. Brian Arthur, Eric Beinhocker, and Allison Stanger Santa Fe Institue Press Through contributions from leading authors, Issues in Heterodox Economics provides a critical analysis of the methodology of mainstream economics. 2008 Level: advanced Issues In Heterodox Economics Donald A. R. George Wiley "Despite the rediscovery of the inequality topic by economists as well as other social scientists in recent times, relatively little is known about how economic inequality is mediated to the wider public of ordinary citizens and workers. That is precisely where this book steps in: It draws on a cross-national empirical study to examine how mainstream news media discuss, respond to, and engage with such important and politically sensitive issues and trends. 2020 Level: advanced Economic Inequality and News Media Andrea Grisold & Paschal Preston T. Oxford University Press