The Routledge Handbook of Heterodox Economics : Theorizing, Analyzing, and Transforming Capitalism book cover
1st Edition

The Routledge Handbook of Heterodox Economics
Theorizing, Analyzing, and Transforming Capitalism

ISBN 9781138899940
Published August 1, 2017 by Routledge
566 Pages 37 B/W Illustrations

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Book Description

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; Régulation theory; the Social Structure of Accumulation approach; and ecological economics. They explain the structural properties and dynamics of capitalism, as well as propose economic and social policies for the benefit of the majority of the population. This book aims, firstly, to provide realistic and coherent theoretical frameworks to understand the capitalist economy in a constructive and forward-looking manner. Secondly, it delineates the future directions, as well as the current state, of heterodox economics, and then provides both ‘heat and light’ on controversial issues, drawing out the commonalities and differences among different heterodox economic approaches. The volume also envisions transformative economic and social policies for the majority of the population and explains why economics is, and should be treated as, a social science.

This Handbook will be of compelling interest to those, including students, who wish to learn about alternative economic theories and policies that are rarely found in conventional economics textbooks or discussed in the mainstream media, and to critical economists and other social scientists who are concerned with analyzing pressing socio-economic issues.

Table of Contents

Part I: Introduction

  1. The State of the Art and Challenges for Heterodox Economics
  2. Tae-Hee Jo, Lynne Chester, and Carlo D’Ippoliti

    Part II: The Theoretical Cores of Heterodox Economics

  3. Social Provisioning Process: A Heterodox View of the Economy
  4. Tae-Hee Jo and Zdravka Todorova

  5. The Social Surplus Approach: Historical Origins and Present State
  6. Nuno Ornelas Martins

  7. Accumulation Regimes
  8. Agnès Labrousse and Sandrine Michel

  9. Monetary Theories of Production
  10. Marco Veronese Passarella

  11. The Principle of Effective Demand: Marx, Kalecki, Keynes, and Beyond
  12. Eckhard Hein

  13. Heterodox Theories of Value: A Brief History
  14. Ajit Sinha

  15. Theories of Prices and Alternative Economic Paradigms
  16. Carlo D’Ippoliti

  17. Heterodox Theories of Distribution
  18. Scott Carter

  19. The Micro-Macro Link in Heterodox Economics
  20. Claudius Gräbner and Jakob Kapeller

    Part III: The Anatomy of Capitalism

  21. Society and Its Institutions
  22. John F. Henry

  23. Heterodox Economics and Theories of Interactive Agency
  24. Mary V. Wrenn

  25. Households in Heterodox Economic Theory
  26. Zdravka Todorova

  27. A Heterodox Theory of the Business Enterprise
  28. Tae-Hee Jo

  29. Heterodox Theories of Business Competition and Market Governance
  30. Tuna Baskoy

  31. A Marxian Understanding of the nature and Form of Dominant Capitalist Legal Institutions
  32. Lorraine Talbot

  33. Money and Monetary Regimes
  34. Pavlina R. Tcherneva

  35. Banks in Developing Countries
  36. Radha Upadhyaya

  37. Shadow Banking
  38. Benjamin Wilhelm

  39. The Informal Economy in Theory and Policy: Prospects for Well-being
  40. Elizabeth Hill

  41. Inequality and Poverty
  42. Marcella Corsi and Giulio Guarini

    Part IV: The Dynamics of the Capitalist Socio-Economic Structure

  43. The Accumulation of Capital: An Analytical and Historical Overview
  44. Ramaa Vasudevan

  45. A Heterodox Reconstruction of Trade Theory
  46. Yan Liang

  47. Analyzing the Organization of Global Production: Thoughts from the Periphery
  48. Víctor Ramiro Fernández and Gabriel Brondino

  49. Labor Processes and Outcomes: An Institutional-Heterodox Framework
  50. Siobhan Austen

  51. Heterodox Theories of the Business Cycle
  52. Matías Vernengo

  53. Heterodox Theories of Economic Growth
  54. Özgür Orhangazi

  55. Financialization and the Crises of Capitalism
  56. Petra Dünhaupt

  57. Theories of International Development: The Post Keynesian and Marxian Alternatives
  58. John Marangos

  59. Energy, Environment, and the Economy
  60. Anders Ekeland and Bent Arne Sæther

    Part V: Transforming the Capitalist Social Provisioning Process

  61. An Exit Strategy from Capitalism’s Ecological Crisis
  62. Lynne Chester

  63. Restructuring Financial Systems with Human Advancement in Mind
  64. Wesley C. Marshall

  65. Rethinking the Role of the State
  66. Anna Klimina

  67. The Twenty-First Century Capitalist Revolution: How the Governance of Large Firms Shapes Prosperity and Inequality
  68. Jordan Brennan

  69. Achieving Full Employment: History, Theory, and Policy
  70. John Marsh, Timothy Sharpe, and Bruce Philp

  71. Social Welfare and Social Control
  72. Andrew Cumbers and Robert McMaster

    Part VI: Conclusion

  73. Heterodox Economics as a Living Body of Knowledge: Community, (In)Commensurability, Critical Engagement, and Pluralism

Jamie Morgan and John Embery

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Tae-Hee Jo is Associate Professor in the Economics and Finance Department at The State University of New York–Buffalo State, USA, and a former Editor of the Heterodox Economics Newsletter (2009–13). He has been working on heterodox microeconomic theory from institutionalist, Marxian, and Post Keynesian perspectives.

Lynne Chester is Associate Professor in the University of Sydney’s Department of Political Economy, Australia. She is recognized as a leading Australian scholar in the empirical application of Régulation theory. Her research focuses on a range of energy issues (affordability, security, markets, price formation, the environment) and the policy responses of capitalist economies through different institutional forms.

Carlo D’Ippoliti is Associate Professor of Economics at Sapienza University of Rome, Italy. He is the editor of PSL Quarterly Review and of Moneta e Credito, and his research focuses on the history of economic thought, feminist economics, and European political economy.