Spiethoff's Economic Styles: a Pluralistic Approach?
The main scope of this article is to introduce Spiethoff's economic styles approach to economists outside the German-speaking scientific community. It also provides a contemporary (new) reading and...
View ArticleComputational Agents, Design and Innovative Behaviour: Hetero Economicus
For too long, a majority of economic stories speak of perfectly informed, fully rational optimisation within a purely materialistic world – leaving a lack of evidence and explanation regarding human...
View ArticleQuantum Economics
A decade after the financial crisis, there is a growing consensus that the neoclassical approach to economics has failed, and that new approaches are needed. This paper argues that economics has been...
View ArticleThe Lucas Critique: A Lucas Critique
The Lucas critique has been – and continues to be – the cornerstone of modern macroeconomic modelling. In this note we apply the Lucas critique to macroeconomic modelling using deep rational...
View ArticleCherchez la Firme: Redressing the Missing – Meso – Middle in Mainstream...
Aristotle warned against a 'missing middle' in logic (Gk Mesos – middle; intermediate). This paper submits that one of the reasons why there has been no major breakthrough in macroeconomics since the...
View ArticleA Common Misunderstanding about Capitalism and Communism Through the Eyes of...
This paper argues that theories of communism and capitalism should not be considered as opposites or alternatives, but rather systems that satisfy different stages of humanity's technological...
View ArticleCommentary on 'Addressing the Malaise in Neoclassical Economics: A Call for...
The article by Ron Wallace 'proposes the deployment of partial modelling, utilising Boolean networks (BNs), as an inductive discovery procedure for the development of economic theory'. The central...
View ArticleAddressing the Malaise in Neoclassical Economics: A Call for Partial Models
Economics is currently experiencing a climate of uncertainty regarding the soundness of its theoretical framework and even its status as a science. Much of the criticism is within the discipline, and...
View ArticleWas Smith A Moral Subjectivist?
This paper challenges the commonly held view that Smith's moral theory is a subjectivist theory. Smith's test for goodness and rightness – for propriety – is not the approbation of an impartial...
View ArticleThe Meaning and Future of Heterodox Economics: A Response to Lynne Chester
I have been writing and publishing in economics for 50 years and much of my work has been debated and criticised. But I think that this is the first time that someone has honoured me by a full-scale...
View ArticleJudging Heterodox Economics: A Response to Hodgson's Criticisms
The renowned institutionalist Geoffrey Hodgson has claimed inter alia that heterodox economics has failed to define its nature and scope, does not take pluralism seriously, and lacks expertise...
View ArticleResponse to Stavros Mavroudeas
Read Miguell Ramirez's original paper Credit, Indebtedness and Speculation in Marx's Political Economy Read Stavros Mavroudeas' comment on Miguel Ramirez' paper Comment on Miguel Ramirez's paper,...
View ArticleComment on Miguel Ramirez's paper, 'Credit, Indebtedness and Speculation in...
Read Miguell Ramirez's original paper Credit, Indebtedness and Speculation in Marx's Political Economy...
View ArticleCredit, Indebtedness and Speculation in Marx's Political Economy
This paper contends that Marx develops in Volume III of Capital an incisive conceptual framework in which excessive credit creation, indebtedness and speculation play a critical and growing role in the...
View ArticleOrthogonal Time in Euclidean Three-Dimensional Space: Being an Engineer's...
This paper begins by asking a simple question: can a farmer own and fully utilise precisely five tractors and precisely six tractors at the same time? Of course not. He can own five or he can own six...
View ArticleInstitutions, Policy and the Labour Market: The Contribution of the Old...
This paper seeks to examine the relationship and the interaction between institutions, policy and the labour market in the light of the ideas of the first generation of institutional economists, who,...
View ArticleHierarchical Inconsistencies: A Critical Assessment of Justification
The existential insecurity of human beings has induced them to create protective spheres of symbols: myths, religions, values, belief systems, theories, etc. Rationality is one of the key factors...
View ArticleMathematical Analysis as a Source of Mainstream Economic Ideology
The paper contends that neoclassical ideology stems, to a great extent, from mathematical analysis. It is suggested that mainstream economic thought can be comprehensively revisited if both histories...
View ArticleThe Psychological Contributions of Pragmatism and of Original Institutional...
The aim of this work is to illustrate the psychological contributions of Pragmatism and of the Original Institutional Economics (also referred to as OIE or institutionalism), and their relevance for...
View ArticleComment on 'The Empirical Success of Keynesianism' by Donald Gillies
Read Donald Gillies' original paper 'The Empirical Success of Keynesianism'...
View ArticleThe Empirical Success of Keynesianism
The main thesis of this paper is that the empirical success of Keynesianism shows it to be scientific. Keynesianism here refers not to a specific theory, but to a paradigm. It is argued that Kuhn's...
View ArticleWine and bottles. Some remarks on “The Two Blades of Occam's Razor in...
Read Giandomenica Becchio's original paper “The Two Blades of Occam's Razor in Economics: Logical and Heuristic”...
View ArticleThe Two Blades of Occam's Razor in Economics: Logical and Heuristic
This paper is part of the general debate about the need to rethink economics as a human discipline using a heuristic to describe its object, about the need to explicitly reject the positivistic...
View ArticleDeleuze among the Economists: A Short Commentary on Abderrazak Belabes' 'What...
Read 'What can Economists Learn from Deleuze?'...
View ArticleComment on Abderrazak Belabes' 'What can Economists Learn from Deleuze?'
Read 'What can Economists Learn from Deleuze?'...
View ArticleWhat can Economists Learn from Deleuze?
Listening, seeing and reading Gilles Deleuze has had an influence on my thinking more than most of the economic writings I have consulted over the past quarter of a century. This discovery and...
View ArticleThe Self According to Others: Explaining Social Preferences with Social...
In past decades, significant work in behavioural economics has decisively revealed the limitations of the human agency model known as Homo Economicus, whereby humans are purely driven by material...
View ArticleEconomics' Wisdom Deficit and How to Reduce It
As is well understood, the values inherent in the dominant neoclassical economic paradigm are self- interest and optimisation. These are the values that guide individuals and policymakers in advanced...
View ArticleConsensus and Dissension among Economic Science Academics in Mexico
We report general and consensus results of a survey administered to a defined population of economic science academics in Mexico. Our results include insights on economic opinions, scientific aspects...
View ArticlePopperian Hayek or Hayekian Popper?
Friedrich Hayek was a fervent advocate of the methodological specificity of the social sciences. However, given his contact with Karl Popper, several historians and philosophers have characterised his...
View ArticleRelevance of Chaos and Strange Attractors in the Samuelson-Hicks Oscillator
In this paper, we look for the relevance of chaos in the well-known Hicks-Samuelson's oscillator model investigating the endogenous fluctuations of the national income between two limits: full...
View ArticleThe Challenge of Sustainable Development: From Technocracy to...
Mainstream neoclassical economics, as well as heterodox schools, should be regarded as different kinds of 'political economics'. There is no value-free economics. We therefore need to bring democracy...
View ArticleAgents, Equations, and Economics
Critiques of Neoclassical Economics extend, unsurprisingly, to its mathematical structure. The discussion has largely focused on General Equilibrium Theory (GET), a formalism developed by Leon Walras...
View ArticleFrom 'What New Political Economy Is' to 'Why Is Everything New Political...
In this paper, I aim to discuss New Political Economy as a label for the economic analysis of politics, in the English language. The term 'political economy' itself, although it has ceased to be the...
View ArticleThe Incommensurability of Keynes's and Walrasian Economics and the...
The Cambridge Journal of Economics witnessed an important debate between Mark Pernecky and Paul Wojick on the one side and Rod Thomas on the other about the usefulness of Thomas Kuhn's sociology and...
View ArticleA methodological perspective on economic modelling and the global pandemic
A question that recent research on the global pandemic raises is: how do the assumptions underlying epidemiological models and economic models differ? Epidemiological models we now know have become...
View ArticleLimits to economics, religion and (maybe) everything else: Reply to Rati...
Read Rati Mekvabishvili's 'On the Importance of Altruism, Prosocial Behavior and Christian Love in Behavioral Economics research' here...
View ArticleReply to Rati Mekvabishvili's 'On the Importance of Altruism, Prosocial...
Read Rati Mekvabishvili's 'On the Importance of Altruism, Prosocial Behavior and Christian Love in Behavioral Economics research' here...
View ArticleReply to Rati Mekvabishvili's 'On the Importance of Altruism, Prosocial...
Read Rati Mekvabishvili's 'On the Importance of Altruism, Prosocial Behavior and Christian Love in Behavioral Economics research' here...
View ArticleOn the Importance of Altruism, Prosocial Behavior and Christian Love in...
The article discusses the concepts of altruism and prosocial behavior and their importance in interdisciplinary studies of behavioral economics. The basic theoretical models and concepts of altruism...
View ArticleThe Interpretation of Ownership: Insights from Original Institutional...
In this work we analyse the main interpretations of ownership in Original Institutional Economics (OIE) and their links with pragmatist psychology and psychoanalysis. We consider Thorstein Veblen's...
View ArticleAbout the “Dual Character of Labour”: a Reformulation of Marx's Commodity Theory
In a letter to Engels (24 August 1867), Marx says that the best of his book (Capital) are (i) the “dual character of the labour embodied in commodities” and (ii) the surplus value theory. Marx's...
View ArticleRe-Thinking Fast and Slow
Daniel Kahneman's book Thinking, Fast and Slow (2011) has had a worldwide impact. The book's insights are profound and have changed the thinking of both decision scientists and general audiences about...
View ArticleBankers as Immoral? Some Parallels and Differences between Aquinas's Views on...
Since ancient times the practices and ethics of bankers and banking in general have undergone a great deal of criticism. While lending is motivated by profit, and while households are not explicitly...
View ArticleOn Technofeudalism: What Killed Capitalism? An interview with Yanis...
Yanis Varoufakis is an economist and politician. After serving as Greek Finance Minister in 2015, he went on to co-found the Democracy in Europe Movement 2025, of which he is now Secretary- General....
View ArticleOn CBDC and the Need for Public Debate: Policy and the Concept of Process
According to the Principle of Techno-Geek Proportionality, for every million times a nerd gets excited about “the latest thing” the world might change once. Central bank digital currency (CBDC) may be...
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