1st Edition
Heterodox Economics and Global Emergencies Voices from Around the World
From the financial crash to the climate emergency and Covid- 19, this book demonstrates that recent crises have had unequal impacts, they require a heterodox approach to economics for their understanding, and new ways of thinking are needed to address them. Drawing on a variety of heterodox and radical perspectives and global voices, including those from India, Africa, and South America, this collection explores the causes and impacts of global emergencies from a wide array of viewpoints. The first section outlines how the pandemic has shown up the biases of orthodox thought and policy, particularly its Eurocentric and patriarchal focus on the urban, formal economy. It outlines how adding an international dimension to institutional analysis uncovers systematic inequalities in the responses to emergencies, and how new paradigms can provide better alternatives. The massive interventionism worldwide has led to renewed interest in the global financial system, and also in Marxian approaches to money. The second section of the book therefore considers a range of alternative approaches to the study of finance – from Marx to Minsky – which are currently being revisited. The collection concludes with a suggestion for heterodox economics pedagogy, since changing economics education is vital for future dissemination of real- world ideas. The book will be of interest to a variety of researchers and postgraduate students, and lecturers, especially in the fields of development, health, labour and feminist economics, and also international political economy and heterodox economics.
Introduction: Permacrisis, Overlapping crises, Inter-crises
Ariane Agunsoye and Eurydice Fotopoulou
Section 1: Inequalities and Alternative Approaches
Chapter 1 Heterodox Economic Policy outlook: A proven boon at the time of a global pandemic
Medha A Sathi
Chapter 2 The Reach of Fiscal Stimulus for Urban Women Informal Sector Workers in Bengaluru during COVID 19
R Vijayamba
Chapter 3 The impact of Covid-19 on the economy of lower-income Bogotá families: An analysis using Polanyi’s concept of the economy as an instituted process
Sonia Carolina López Cerón
Section 2: Finance and the Causes of Crises
Chapter 4 On the Financial Instability Hypothesis and its Global Implications post-Covid19
Barkin Cihani
Chapter 5 Estimating Economic Surplus in Argentina. The Neoliberal Strategy, Its Crisis and the Neo-Developmentalist Model (1991-2015)
Leandro Bona
Chapter 6 The commodity character of Marx’s theory of money: an assessment of the debate
Nicolas Aguila
Section 3: Economics Education and Change
Chapter 7 Qualitative Economics and the Opportunity to Push for Heterodoxy in the Classroom
Juan David Parra
Chapter 8 Conclusion: “Crisis of What?” “Crisis for Whom?”
Jon Mulberg and Thoralf Dassler
Biography
Ariane Agunsoye is Senior Lecturer in Economics in the Institute of Management Studies, Goldsmiths, University of London, UK.
Thoralf Dassler is Senior Lecturer at the University of Westminster, UK.
Eurydice Fotopoulou is an Economist for the International Monetary Fund (IMF). All views expressed here are of the author and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
Jon Mulberg is Associate Lecturer in the Faculty of Arts and Social Science at the Open University, UK.
