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This article briefly examines Marx s profound contribution in the political economic thought It provides the historical foundations of Marxian economic thought based on the contemporary situation as well as the state of economic thought at that time Lastly it discusses the volumes of Marx s contribution as well as …
Marxian economics
Markets are the focus in modern economics: when they work, when they don’t and what we can or can’t do about it. There are many ways to study markets and how we do so will inevitably affect our conclusions about them, including policy recommendations which can influence governments and other major organisations. Pluralism can be a vital corrective to enacting real policies based on only one perspective and a plethora of approaches provide alternatives to the canonical view. Although they have differing implications, these approaches share the idea that we should take a historical approach, analysing markets on a case-by-case basis; and they share a faith in the power of both individuals and collectives to overcome the problems encountered when organising economic activity.
Markets, How Do They Work?
Usually, Critical Theory and Economics are, for better or worse, no longer seen to be in a continuum. This article by Lukas Meisner serves as an introduction to Critical Theory for all (heterodox) economists, who want to understand and explain what they can, otherwise, just state and describe.
Critical Theory for Heterodox Economists: Questioning the Premises of Supply and Demand
The concept of financialisation has undergone a similar career as ‘globalisation’, ‘neoliberalism’ or even ‘capitalism’, in the course of which it changed from the explanandum to the explanans; the process of financialisation is taken for granted, while the concrete historical and empirical causal conditions of its realisation and perpetuation are being moved into the background.
A holistic theory of financialisation
Noneconomists often think that economists' approach to race is almost exclusively one of laissez-faire. Racism, Liberalism, and Economics argues that economists' ideas are more complicated.
Race, Liberalism, And Economics
The Economics and Geopolitics of Russia Selling Yuan and Gold Reserves
It is important for students to understand the workings of international and public finance and that the goal of governments and politicians is not always economic efficiency when making financial decisions. Normative goals other than efficiency can motivate economic decisions. A good economist is able to recognise, clearly name and take into account the values and goals behind economic behaviour, when making sense of the world.
Russia sells foreign reserves
The premise of this workshop is that we, as knowledge producers - especially within westernized universities (Grosfoguel, 2013), are significantly implicated in neoliberal imaginaries that are often in service of hierarchical, binary, competitive and linear narratives of growth as civilizational progress.
Decolonizing Economics
An examination of women's changing economic roles. Includes an analysis of labour force participation, wage inequality, gender differences in education, intra-household distribution of resources, economics of reproduction, and how technological change affects women.
Women and the Economy
The Routledge Handbook of Heterodox Economics presents a comprehensive overview of the latest work on economic theory and policy from a 'pluralistic' heterodox perspective.
Contributions throughout the Handbook explore different theoretical perspectives including: Marxian-radical political economics; Post Keynesian-Sraffian economics; institutionalist-evolutionary economics; feminist economics; social economics.
The Routledge Handbook of Heterodox Economics
Adam Smith's The Wealth of Nations provided the first, most influential and lasting explanation of the workings of modern economics. But with his focus on "the market" as the best mechanism for producing and distributing the necessities of life, Smith's concepts only told part of the story, leading to flawed economic models that devalue activities that fall outside of the market's parameters of buying and selling.
The Real Wealth of Nations
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.
Uncertain Futures
In a changing world that has been shaken by economic, social, financial, and ecological crises, it becomes increasingly clear that new approaches to economics are needed for both theoretical and empirical research; for applied economics as well as policy advice.
Policy Implications of Recent Advances in Evolutionary and Institutional Economics
An essay of the writing workshop on contemporary issues in the field of Nigerian economics: In Nigeria, it appears that there is nothing in the constitution, which excludes the participation of women in politics. Yet, when it comes to actual practice, there is extensive discrimination. The under-representation of women in political participation gained root due to the patriarchal practice inherent in our society, much of which were obvious from pre-colonial era till date.
Women Participation – Women Contribution to Economics and Politics
Capitalism is dissolving boundaries - not only in the sense of ever-expanding global trade flows, but also in the concrete everyday working lives of individuals. What implications does this have for our understanding of freedom, work and borders?
Capitalism & Boundaries
L’économie féministe se focalise sur les interdépendances entre les relations de genre et l’économie. Le 'care' et la sphère de la reproduction partiellement non-marchande sont des objets d’étude particulièrement mis en avant.
Économie féministe
The Centre for Economy Studies works on improving and modernising economics education to ensure that students will be better prepared for their future careers and the societal challenges we face today and in the coming decades. The Essential Lectures are teaching packs designed for 90-minute sessions that can be added to existing courses.
Economy Studies Essential Lectures
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.
From Political Economy to Economics
In China's Gilded Age, Yuen Yuen Ang maintains that all corruption is harmful, but not all types of corruption hurt growth. Ang unbundles corruption into four varieties: petty theft, grand theft, speed money, and access money.
China's Gilded Age
In this book, the author critically examines a number of socialist proposals that have been put forward since the end of the Cold War. It is shown that although these proposals have many merits, their inability effectively to incorporate the benefits of information technology into their models has limited their ability to solve the problem of socialist construction. The final section of the book proposes an entirely new model of socialist development, based on a "needs profile" that makes it possible to convert the needs of large numbers of people into data that can be used as a guide for resource allocation. This analysis makes it possible to rethink and carefully specify the conditions necessary for the abolition of capital and consequently the requirements for socialist revolution and, ultimately, communist society.
Information Technology and Socialist Construction
Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
A Time for Precaution
In its first edition, this book helped to define the emerging field of ecological economics. This new edition surveys the field today. It incorporates all of the latest research findings and grounds economic inquiry in a more robust understanding of human needs and behavior.
Ecological Economics - Principles and Applications
One of the most authoritative authors on the intellectual heritage of John Maynard Keynes, Robert Skidelsky draws a sketch of the great man's economic thinking both accessible and insightful.
Keynes: A Very Short Introduction
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.
Why Feminist Economics is Necessary
Economics is a broad and diverse discipline, but most economics textbooks only cover one way of thinking about the economy. This book provides an accessible introduction to nine different approaches to economics: from feminist to ecological and Marxist to behavioural.
Rethinking Economics - An Introduction to Pluralist Economics
The authors discuss how identity affects economic outcomes by bringing together psychological and sociological perspectives and economics. For economic outcomes of a single individual, it might be interesting which kind of social groups this individual belongs to. This may influence individual daily decisions and hence economic outcomes. It can, however, not only affect individual economic outcomes but also economic outcomes of organizations, institutions and other groups. This paper describes these influences with respect to gender in the workplace, to the economics of poverty and social exclusion, and to the household division of labour.
Economics and Identity
One method of economic modelling that has become increasingly popular in academia, government and the private sector is Agent Based Models, or ABM. These simulate the actions and interactions of thousands or even millions of people to try to understand the economy – for this reason ABM was once described to me as being “like Sim City without the graphics”. One advantage of ABM is that it is flexible, since you can choose how many agents there are (an agent just means some kind of 'economic decision maker' like a firm, consumer, worker or government); how they behave (do they use complicated or simple rules to make decisions?); as well as the environment they act in, then just run the simulation and see what happens as they interact over time.
Agents, agents everywhere
Anwar Shaikh explores alternative economic explanations, emphasizing 'real competition' theory and the role of imperfections in economic patterns.
Capitalism: Competition, Conflict, Crisis
"Heterodox economics can provide a more complete and robust explanation of economic realities than orthodox (or mainstream) economics. Contemporary Issues in Heterodox Economics: Implications for Theory and Policy Action argues that this greater explanatory power gives heterodox economics the ability to illuminate appropriate policy for the major crises of our time, as well as proffer the basis for a more rounded, pluralist approach to economic theory.
Contemporary Issues in Heterodox Economics
International Economics, 15e continues to combine rigorous economic analysis with attention to the issues of economic policy that are alive and important today in this field.
International Economics
Anwar Shaikh seeks in his lectures for alternative explanations for empirically observed macro and microeconomic patterns of economic fluctuations, price volatility, and economic development.
Capitalism: Competition, Conflict, Crisis
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.
Reproductive Labour and Care
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.
To Grow or Not to Grow?
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