Within the heterodox field one of the most active topics is related to the theory of economic growth and distribution This is a textbook for advance undergraduate and graduate students Throughout its 18 chapters Classical Neoclassical and post Keynesian models are developed Each chapter contains study problems and suggested readings …

Why is money more valuable than the paper on which it is printed Monetarists link the value of money to its supply and demand believing the latter depends on the total value of the commodities it circulates According to Prabhat Patnaik this logic is flawed In his view in any …

This edited volume explores how dependency theories can be adapted and applied to understand limits and possibilities for development in Latin America and Europe It explores core periphery relations across different sets of countries specific mechanisms of dependency as well as the role of race and gender in dependency analysis …

In the first intellectual history of neoliberal globalism, Quinn Slobodian follows neoliberal thinkers from the Habsburg Empire’s fall to the creation of the World Trade Organization to show that neoliberalism emerged less to shrink government and abolish regulations than to deploy them globally to protect capitalism.

Thirty-years of economic transformation has turned China into one of the major players in the global capitalist economy. However, its economic growth has generated rising problems in inequality, alienation, and sustainability with the agrarian crises of the 1990s giving rise to real social outcry to the extent that they became the object of central government policy reformulations.

Uncertain Futures considers how economic actors visualize the future and decide how to act in conditions of radical uncertainty. It starts from the premise that dynamic capitalist economies are characterized by relentless innovation and novelty and hence exhibit an indeterminacy that cannot be reduced to measurable risk.

A Study of Capitalist Rule This book aims at presenting and assessing imperialism as a theoretical concept It aims to provide a comprehensive evaluation focusing specifically on the tension between Marx s theoretical system of the Critique of Political Economy and the theories of capitalist expansion and domination For over …

Reflecting his own concerns about the contribution economics could make to the betterment of society, Eli Ginzberg published this study of Smith's humanitarian views on commerce, industrialism, and labor. Written for his doctoral degree at Columbia University, and originally published as The House of Adam Smith, the book is divided into two parts.

Pluriverse: A Post-Development Dictionary contains over one hundred essays on transformative initiatives and alternatives to the currently dominant processes of globalized development, including its structural roots in modernity, capitalism, state domination, and masculinist values.

Readers of economic and political theory as well as students of economic planning will appreciate this classic, now available for the first time in English. Written eighty years ago, when Sorel became disillusioned with the official socialism of the German and French Marxist parties, this new translation presents Sorel's analysis of the rise and fall of the two great modern ideologies: socialism and liberal capitalism.

This is an immensely important book for any student of social theory interested in understanding the colonial roots of a lot of contemporary thinking From a post colonial perspective Gurminder Bhambra and John Holmwood unpack how the emergence of modern society in the context of European colonialism and empire impacted …

Ce court ouvrage explique brièvement les principaux développement de l histoire de la pensée économique Jacques Valier commence avec la Grèce ancienne pour finir par les théories développées après la seconde guerre mondiale et présente les caractéristiques essentiels des principaux courants économiques Au programme de ce livre Les interrogations morales …

"Could a cooperative market economy, in which firms are owned and controlled by their workers, be a viable and efficient alternative to capitalism?"

Devine begins with an analysis of the theory and practice of capitalist planning, central planning and 'market socialism'. He argues that, while market socialism is currently favoured by many economists who reject both capitalism and the command planning of the Soviet model, it cannot fulfil the promises held out for it.

Imperialism is not only about military force and political pressure applied by developed capitalist countries on less developed ones for economic gain It also has an everyday dimension Countless acts of production and consumption the current SUV boom being a prominent example draw on exploitation of resources and labour from …

Maurizio Lazzarato’s War and Money explores the connections between capitalist expansion, international economic conflict, and war, via an analysis of the imperialism of the American dollar.

This book looks at the anti-capitalist economy and the organization of social relations in the context of the revolution and autonomy of Rojava (Kurdistan-Syria).

Does Karl Polanyi's work “The Great Transformation” serve to analyse the current multiple crisis and social movements? Nancy Fraser revises Polanyi's concept of a double movement to capture social forces in the aftermath of the economic crisis of the 1930s – on the one side marketization and on the other hand social protection. Fraser proposes to talk about a triple movement and to account for emancipatory struggles. In the lecture, she discusses interactions as well as conflicts between those three forces, in particular conflicting aims of social protection. The lecture presents the content of her paper “A TRIPLE MOVEMENT? Parsing the Politics of Crisis after Polanyi“ in the New Left Review (2013).

Galbraith first explores the social darwinism of Herbert Spencer and others that served as apology for the highly unequal distribution of wealth in the US at the end of the 19th century and naturalized differences in wealth by appealing to the concept of natural selection of the fittest. Then some instances of the unscrupulous business practices (i.e. robberies) of the American railroad tycoons and other business magnates are recounted. Lastly, Galbraith lines out some of the arguments of Thorstein Veblen, who delegitimized and ridiculed the business and leisure activities of the rich by putting them in the same category as predatory and ritualized practices of primitive or ancient societies.

Economist and politician Costas Lapavitsas: presents differing theoretical definitions of financialization, namely from Marxist and Post-Keynesian thinkers and compares their approaches. By presenting pattern and features of the economic and financial crisis, he interprets the latter as a crisis of financialization. Lapavitsas emphasizes his arguments by presenting data from the U.S. and Germany on the transformation of business, banks and households.

Ha Joon Chang exposes the main ideas of his book Bad Samaritans, namely that historically states have developed and industrialized by making policy interventions related to industry protection, tariffs and subsidies and not by opening their markets to free trade. Chang elaborates on the examples of Japan, the US, Singapore and Germany amongst others to show that an interventionist path to development has been the regularity and not an anomaly. In the end of the lecture, he argues that they idea of a level playing field should be replaced by a trade order that accounts for differences in power and economic capacities of different countries. The last 20 minutes are questions and answers.

What does political economy say about the global sugar production? Take a look at global trade regulations, intercountry inequalities, and the role of marketing.

Anwar Shaikh explores alternative economic explanations, emphasizing 'real competition' theory and the role of imperfections in economic patterns.

La prostitution est-elle la pire des violences patriarcales exercée sur le corps des femmes, ou un travail pas pire qu'un autre ? Pour protéger les femmes, faut-il l’abolir ou donner plus de droits à celles qui l'exercent ? Ces deux positions antagonistes divisent profondément le mouvement féministe.

In this talk, Eric Beinhocker outlines his ideas of how to ensure a just and sustainable future for Humanity: This includes his interesting Russian Doll approach to unpacking 20th-century economics and proposals of new theories to underpin a new economic system.

Dans cet épisode, nous nous posons la question du rôle de la monnaie dans une économie capitaliste. Pour cela, nous comparons le fonctionnement de deux économies en apparence identique, à ceci près que la première fonctionne sans monnaie, comme une économie de troc, et la seconde est monétaire. Nous nous apercevons alors que le caractère monétaire ou non d’une économie modifie radicalement ses propriétés. La détermination des profits sera ainsi très différente dans ces deux économies, les relations de causalité entre dépôts et crédits, épargne et investissement s’inversent, une crise de surproduction est possible dans un cas mais pas dans l’autre, et le chômage peut également avoir des origines très différentes, et même opposées, selon que l’on considère une économie monétaire ou non. Les propriétés de l’économie de troc recouvrent celles de la théorie économique standard (théorie néoclassique) qui s’est historiquement construite sans prendre en considération la monnaie, celle-ci étant considérée comme neutre sur l’économie. Les propriétés de l’économie monétaire rappellent quant à elles celles des modèles postkeynésiens, bien moins connus, et qui trouvent leurs origines dans les travaux et écrits de Keynes, qui affirmait dans son ouvrage le plus célèbre (la théorie générale de l’emploi de l’intérêt et de la monnaie) que « lorsqu’on s’attaque à la recherche des facteurs qui déterminent les volumes globaux de la production et de l’emploi, la Théorie complète d’une Economie Monétaire devient indispensable » (1936, p. 297). Pour approfondir le fonctionnement d’une économie monétaire, vous pouvez lire le livre de Laurent Cordonnier, maître de conférences à l’Université de Lille, « L’économie des Toambapiks » qui présente à partir d’une « fable » la loi des profits de Kalecki dont nous parlons dans la vidéo. Le livre se lit très facilement.

In this short video Peter Reich illustrates seven aspects of the state of the US economy. He provides suggestions on how to to get started to move towards a more fair distribution of wealth.

This content submission has two parts: (1) a link to the post by Wolf Richter on deterioration of US subprime credit card debt and loans, driven in part by the overuse of hedonic quality adjustments in the Consumer Price Index (CPI) used by the US Bureau of Labor Statistics, and (2) to introduce Exploring Economics to the website Naked Capitalism, which is an effort to promote critical thinking through the medium of a finance and economics blog and fearless commentary.

Quinn Slobodian a historian of modern Germany and international history analysis of current development in the Mont Pèlerin Society and therefore neo-liberalism. He sees neo-liberalist thinkers less as believers in the self-healing power of markets, but more as ordo-liberal Globalists who wanted to protect the markets from post-war politics and especially mass democracy. Their goal of global capitalism is still strong, however sceptics in the Mont Pèlerin Society are rising, which see international migration as a threat to Globalisation. Therefore, turning neo-liberal policies away from international institutions like the EU back towards the national states as new defenders of the markets as well as international trade and investments. (A development which can be seen in the Friedrich A. von Hayek-Gesellschaft and especially in the "liberal" wing of the German rightwing populist party AfD)

Mariana Mazzucato explains how we lost sight of what value means and why we need to rethink our current financial systems so capitalism can be steered toward a bold, innovative and sustainable future that works for all of us.

La « décroissance » est-elle souhaitable ? Interview avec Eloi Laurent, économiste, conseiller scientifique à l'OFCE, maître de conférences à Sciences-Po et auteur de “ Sortir de la croissance : mode d’emploi “ (Les Liens qui Libérent, 2019).

Exploring Economics Dossier on the economic fallout of the COVID-19 pandemic and the structural crisis of globalization. COVID-19 encounters a structural crisis of globalization and the economic system that drives it, with an uncertain outcome. We asked economists worldwide to share with us their analysis of current events, long-term perspectives and political responses. The dossier will be continuously expanded.