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issue no. 84 – 19 June 2018 download whole
issue Special issue on the public economy and
a new public economics Edited by Michael Bernstein and June
Sekera Reconstructing a public economics: markets, states and
societies 2 There is more than one
economy 16 The public economy: understanding government as a producer.
36 Economic benefits of public
services 100 Bureaucracy shouldn’t be a dirty word: The need for a new public
administration 170 Industrial policy, then and
now 178 Putting the nation-state back in: public economics and the
global economy 189 The entrepreneurial state: socializing both risks and
rewards 201 Board of Editors, past contributors,
submissions, etc. 218 issue no. 83 – 26 March 2018 download whole
issue Ten years after the crisis: a lost
decade? 2 The great marginalization: why twentieth century
economists neglected
inequality 20 Game Theory Why game theory never
will be anything but a footnote in the history of social
science 45 Employment Employment in a just
economy 87 Business Studies The effect of academic
business studies in Germany and America in the modern
era 116 Does the maximization principle break down during
recessions? 138 The political economy of reforms in
Europe 147 Book review essay Board of Editors, past contributors,
submissions, etc. 170 issue no. 82 – 13 December 2017 download whole
issue China’s drivers and planetary ecological collapse
2 The Saudi Palace coup, the oil market, China and the United
States 29 Ali Kadri download pdf Teaching relevant microeconomics after the global financial
crisis 47 On microfoundations of
macroeconomics 60 The trouble with distribution theory
76 Trumping the NAFTA renegotiation
94 Assessing the impact of austerity in the Greek economy
122 Why Buddhist economics is needed
143 book review Board of Editors, past contributors,
submissions, etc. 175
issue no. 81 – 30 September 2017 download whole issue Involuntary
unemployment 2 Roy Grieve download pdf Fixing the
Euro’s original sins
15 Thomas Palley
download pdf Missing from
the mainstream: The biophysical basis of production and the public economy
27 June Sekera
download pdf Why does
capital flow from poor to rich countries?
42 Michael Joffe download pdf The case for taxing interest
63 Basil Al-Nakeeb
download pdf Why consumers are not sovereign: The
socio-economic causes of market failure 76 John F. Tomer download pdf Economics as
a science 91 Adam Fforde
download pdf An ontology
for the digital age? Review of Profit and Gift in the Digital Economy 110 Jamie Morgan download pdf The resource
curse reloaded 118 Paulo Gala, Jhean Camargo and Guilherme Magacho
download pdf Transient
development 135 Frank Salter download pdf Board of
Editors, past contributors, submissions, etc.
168 issue no. 80 - 30 June 26 2017
download whole
issue Inequality, democracy and the ecosystem Politics, preferences, and prices: the political consequences of
inequality 2 The triumph of Pareto 14
From green growth towards a sustainable real economy
45
Split-circuit reserve banking - functioning, dysfunctions and
future perspectives 63
Derivation of involuntary unemployment from Keynesian microfoundations 109
Chinese economics as a form of ethics
148
Negating 1984: Michael Hudson’s antidote to doublespeak in
economics 179
Trade imbalances are undesirable
193
issue no. 79 - 30 March 2017
download whole
issue Trumponomics: causes and consequences Part II 30 March 2017 Economic policy in the Trump Era 2 Dean Baker
download pdf Major miscalculations: globalization,
economic pain, social dislocation and the rise of Trump 13 Trumponomics and the developing world 29 Jayati Ghosh download pdf Nature abhors a vacuum: sex, emotion,
loyalty and the rise of illiberal economics 35 Julie A. Nelson
download pdf Is Trump
wrong on trade? A partial defense based on production and employment 43 Robert H. Wade download pdf President Trump and free-trade 64 Jacques Sapir
download pdf U.S.
private capital accumulation and Trump`s economic program 74 Jim Stanford
download
pdf Trumponomics and the `post-hegemonic
world` 91 Barry K Gills and Heikki Patomaki download pdf Pussynomics: regression to mean 08 Susan Feiner download pdf Trump`s
contradictions and the future of the Left 115 Boris Kagarlitsky
download pdf Trumponomics, firm governance and US prosperity 120 Robert R Locke
download pdf Donald Trump, American political
economy, and the `terrible
simplificateurs` 136 Kurt Jacobsen and Alba Alexander
download
pdf Mexico,
the weak link in Trump`s campaign promises 142 Alicia Puyana
download pdf `unemployment`: misinformation in public discourse 158 Edward Fullbrook
download pdf Board of Editors, past contributors,
submissions and etc. 163 Issue no. 78 - 22 March 2017
download
whole issue Trumponomics: causes and
consequences Preface download pdf Trumponomics: everything
to fear including fear itself? 3 Can Trump overcome secular stagnation?
20
Trump through a Polanyi lens: considering community well-being
28 Trump is Obama`s legacy. Will this break up the
Democratic Party? 36 Michael Hudson download pdf Causes and consequences of President Donald Trump
44 Explaining the rise of Donald Trump
54 Class and Trumponomics
62
Trump's Growthism: its roots in neoclassical economic theory
86 Trumponomics: causes and
prospects 98 The fall of the US middle class and the hair-raising ascent of
Donald Trump Mourning in America: the corporate/government/media complex
125 How the Donald can save America from capital despotism
132 Prolegomenon to a defense of the City
of Gold 141 Trump`s bait and switch: job creation
in the midst of welfare state sabotage Can `Trumponomics` extend the recovery? 159 Board of Editors, past contributors, submissions and etc.
173 Issue no. 77 - 10 December 2016 download
whole issue Human growth and avoiding European disintegration: lessons from
Polanyi
2 Uncertainty about uncertainty: the futility of benefit-cost
analysis for climate change
policy 11 Growthism: A Cold War
leftover 26 Finance capital and the nature of capitalism in India
today 30 Competitiveness and its leverage in a currency union: how
Germany gains from the euro 40 Rethinking rationality theory`s
epistemological status: normative vs. positive approach
50 Time and the analysis of economic decision
making 64 The mathematical equivalence of Marshallian analysis and `General Equilibrium`
theory 73 The problem with production
theory 85 Trade surpluses of countries trading with the United
States 102 A CasP model of the stock
market 118 A New `General Theory`? A review of Capitalism by Anwar
Shaikh 155 Board of Editors, past contributors, submissions and etc.
168 Issue
no. 76 - 30 September 2016 download
the whole issue Negative interest rates or 100% reserves: alchemy vs chemistry Herman Daly download
pdf Why negative interest rate policy (NIRP) is ineffective and
dangerous Thomas I. Palley download
pdf Japan's liquidity trap Tanweer Akram download
pdf Paul
Romer's assault on 'post-real'
macroeconomics Lars Palsson Syll download
pdf Another reason why a steady-state economy will not be a capitalist
economy Ted Trainer download
pdf Using regression analysis to predict countries' economic growth: illusion and fact in education policy Nelly P. Stromquist download
pdf Can a country really go broke?
Deconstructing Saudi Arabia's macroeconomic crisis Sashi Sivramkrishna
download
pdf Reconsideration of the
Prebisch-Singer Hypothesis Ewa Anna Witkowska download
pdf Industrial policy in the 21st century: merits, demerits and how can we
make it work Mohammad Muaz Jalil download
pdf Review Essays Review of James Galbraith, Welcome
to the Poisoned Chalice Michael Hudson download
pdf A travesty of financial history - which bank lobbyists will applaud Michael Hudson download
pdf Discussion Capitalism, corporations and ecological crisis: a dialogue concerning Green Capitalism Richard Smith, William
Neil and Ken Zimmerman download
pdf Board of Editors, past
contributors, submissions and etc. Issue no. 75 - 27 June 2016 The other half of macroeconomics
and the three stages of economic
development 2 Polanyi and the coming US
president election 49 The political economy of the Paris
Agreement on human induced climate
change 67 Zucman on tax evasion and the U.S.
trade deficit 76 The resource curse
mirage download
pdf
92 Economics as practical wisdom
113 Everyday futures: Financial market
stability in the performative social
present 126 Review Essays Is the CORE eBook a possible
solution to our
problems?
download pdf
135 Rethinking Piketty: Critique of
the critiques 143 Note A note on the aggregated
production function and the accounting
identity 152 Opinion Don’t ask economists, just listen
to Sargent and ask the
people 156 Poll Results 2016: Top 10 economics books of the last 100 years
download
pdf
159 Board of Editors, past
contributors, submissions and etc.
download
pdf
161 Issue no. 74 - 7 April 2016 Inequality, the financial crisis
and stagnation
1 Deductivism - the fundamental flaw of mainstream economics 22 Lars Palsson Syll download pdf Heterodox economics or political
economy?
40 Frank Stilwell download
pdf History as a source of economic
policy
49 Robert R. Locke download pdf The natural capital metaphor and
economic theory
64 Alejandro Nadal download pdf Inferences from regression
analysis: are they valid?
85 Steven Klees download pdf Escaping the Polanyi matrix 98 Gary Flomenhoft download
pdf The petition against the
Smoot-Hawley Tariff Bill: What 1,028 economists overlooked 124 Bernard C. Beaudreau download
pdf Review Essay When the model becomes the message - a critique of Rodrik 139 Lars Palsson Syll download pdf Board of Editors, past contributors, sumbissions and etc.
156 Issue no. 73 - 11 December 2015 What does `too much
government debt`
mean in a stock-flow consistent model? 2 David R Richardson
download
pdf Divine belief in Economics at the beginning of the 21st century 16 Emil Urhammer download
pdf The double
discipline of neoclassical economics 27 Michel Gueldry download
pdf Two worlds of
minimum wage and a new research agenda 58 Ruya Gokhan Kocer download
pdf The IMF and
Troika's Greek bailout programs: an East Asian view 76 Hee-Young Shin download
pdf Globalisation
and sticky prices: `Con` or conundrum?
92 Kevin Albertson, John Simister and Tony
Syme
download
pdf Review Essays Putting an end
to the aggregate function of production... forever?
99 Bernard Guerrien and Ozgur Gun
download
pdf Paul Mason's PostCapitalism 110 Donald Gillies
download
pdf The long-term
rate of interest as Keynes`s `villain of the piece`
120 Geoff Tily download
pdf Notes Mass Migration
and Border Policy
130 Herman Daly
download
pdf Stiglitz and the
`Greek
morality tale` 133 Ali Abdalla Ali
download
pdf Board of Editors, past contributors,
submissions and etc.
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Editor: Edward Fullbrook Associate Editor: Jamie
Morgan Board of Editors Nicola Acocella, Italy,
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Latin Am. School of Social Sciences Jacques Sapir, France, Ecole
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Buch-Hansen, Brendan Sheehan, C P Chandrasekhar, Heikki
Patomäki, Romar Correa, Piet-Hein van Eeghen, Max
Koch, John Robinson, Oscar Ugarteche, Taddese Mezgebo, Donald Katzner, Crelis F. Rammelt,
Phillip Crisp, John B. Benedetto, Heikki Patomäki, Alicia Puyana Mutis, Leon Podkaminer, Michael Kowalik,
Mohammad Muaz Jalil, José A. Tapia, Robert W.
Parenteau, Alan Harvey, C. T. Kurien, Ib Ravn, Tijo
Salverda, Holger Apel, John Jeffrey Zink, Severin Reissl, Christian
Flamant, Rainer Kattel, Amit
Bhaduri, Kaustav Banerjee, Zahra Karimi Moughari, David R Richardson, Emil Urhammer,
Michel Gueldry, Rüya Gökhan Koçer, Hee-Young Shin, Kevin Albertson,
John Simister, Tony Syme,
Geoff Tily, Ali Abdalla
Ali, Alejandro Nadal, Steven Klees, Gary Flomenhoft, Bernard C. Beaudreau,
William R. Neil, John B. Benedetto, Ricardo Restrepo
Echavarría, Carlos Vazquez, Karen Garzón Sherdek, Paul Spicker, Mouvement des étudiants pour la réforme de
l’enseignement en économie, Suzanne Helburn, Martin
Zerner, Tanweer Akram, Nelly
P. Stromquist, Sashi Sivramkrishna, Ewa Anna Witkowska,
Ken Zimmerman, Mariano Torras, C.P. Chandrasekhar, Thanos Skouras, Diego Weisman, Philip George, Stephanie
Kelton, Luke Petach, Jørgen Nørgård, Jin Xue, Tim Di
Muzio, Leonie Noble,
Kazimierz Poznanski, Muhammad Iqbal Anjum, Pasquale
Michael Sgro, June Sekera,
Michael Joffe, Basil Al-Nakeeb,
John F. Tomer, Adam Fforde, Paulo Gala, Jhean Camargo,
Guilherme Magacho, Frank M. Salter, Michel
S. Zouboulakis, Prabhath Jayasinghe, Robert A. Blecker,
Isabel Salat, Nasos Koratzanis,
Christos Pierros, Steven Pressman,
Eli Cook, John Komlos, J.-C. Spender,
Yiannis Kokkinakis,
Katharine N. Farrell, John M. Balder Thoughts that
led to the creation
of this journal ". . . economics has become increasingly an arcane branch
of mathematics rather than dealing with real economic problems" Milton Friedman " [Economics as taught] in America's graduate schools... bears
testimony to a triumph of ideology over science.” "Existing economics is a theoretical [meaning mathematical] system
which floats in the air and which bears little relation to what happens in
the real world” Ronald Coase " We live in an uncertain and ever-changing world that is
continually evolving in new and novel ways.
Standard theories are of little help in this context. Attempting to understand economic,
political and social change requires a fundamental recasting of the way we
think” Douglass North "Page after page of professional economic journals are filled with
mathematical formulas […] Year after year economic theorists continue to
produce scores of mathematical models and to explore in great detail their
formal properties; and the econometricians fit algebraic functions of all
possible shapes to essentially the same sets of data” Wassily Leontief " Today if you ask a mainstream economist a question about almost
any aspect of economic life, the response will be: suppose we model that
situation and see what happens…modern mainstream economics consists of little
else but examples of this process” Robert Solow "Economics
is supposed to be social science, i.e. an intellectual discipline resting
upon empirically-observed facts, in which mathematics and conceptual
frameworks are tools for understanding. But in contemporary mainstream
economics, the tools are often in the driver's seat, declaring evident facts
impossible and reducing the subtleties of the real world to
whatever clockwork economists best know how to build." Ian Fletcher "Modern economics is sick.
Economics has increasingly become an intellectual game played for its own
sake and not for its practical consequences for understanding the economic
world. Economists have converted the subject into a sort of social
mathematics in which analytical rigour is everything and practical relevance
is nothing.” " . . . the close to monopoly position of neoclassical economics is not
compatible with normal ideas about democracy.
Economics is science in some senses, but is at the same time ideology. Limiting economics to the neoclassical
paradigm means imposing a serious ideological limitation. Departments of economics become political
propaganda centers . . .” " Economics students . . . graduate from Masters and PhD programs with
an effectively vacuous understanding of economics, no appreciation of the
intellectual history of their discipline, and an approach to mathematics that
hobbles both their critical understanding of economics and their ability to
appreciate the latest advances in mathematics and other sciences. A minority of these ill-informed students
themselves go on to be academic economists, and they repeat the process. Ignorance is perpetuated” Steve Keen " The human economy has passed from an “empty world” era in which
human-made capital was the limiting factor in economic development to the
current “full world” era in which remaining natural capital has become the
limiting factor “ Robert Costanza "Most courses deal with an ‘imaginary world,’ and have no link
whatsoever with concrete problems.” " All of these textbooks fail to explain how prices are determined in
‘markets’’ and thus how markets work.
Where do prices come from? Who
determines them? How do they
fluctuate? These questions are never
addressed, even though it is through the price mechanism that the ‘invisible
hand’ is supposed to operate.” " . . . mainstream economists seek knowledge through numbers to stop the
messy reality of people, processes and politics dirtying their invisible
hands.” " Multinationals are everywhere except in economic theories and
economics departments.” Grazia Ietto-Gillies “. . . the economist must engage him or
herself as a citizen with convictions regarding the public good and ways of
treating it, rather than as the holder of universal truth that he or she
substitutes for discussion in order to impose it on us all.”
" There is an urgent need for a more realistic economics of the
environment, with theories and analyses that can help to create
environmentally sustainable economic activity.” Frank Ackerman "Modern economics is not very successful as an explanatory endeavour.
This much is accepted by most serious commentators on the discipline,
including many of its most prominent exponents” Tony Lawson " Because mathematics has swamped the curricula in leading universities
and graduate schools, student economists are neither encouraged nor equipped
to analyze real world economies and institutions.” Geoffrey M. Hodgson " . . . the concepts of uneconomic growth, accumulating illth, and
unsustainable scale have to be incorporated in economic theory if it is to be
capable of expressing what is happening in the world. This is what ecological
economists are trying to do.” Herman E. Daly " The application of mathematics to economics has proved largely
unsuccessful because it is based on a misleading analogy between economics
and physics. Economics would do much better to model itself on another very
successful area, namely medicine, and, like much of medicine, to adopt a
qualitative causal methodology.” Donald Gillies " Economic history courses have been disappearing from classrooms across
the world. Once a compulsory part of economics education, they have been
relegated to the remote corners of ‘options’ and even closed down.” Ha-Joon Chang " In Smith is a forgotten lesson that the foundation of success in
creating a constructive classical liberal society lies in the individuals’
adherence to a common social ethics. According to Smith, virtue serves as
‘the fine polish to the wheels of society’ while vice is ‘like the vile rust,
which makes them jar and grate upon one another.’ Indeed, Smith sought to
distance his thesis from that of Mandeville and the implication that
individual greed could be the basis for social good. Smith’s deistic universe
might not sit well with those of post-enlightenment sensibilities, but his
understanding that virtue is a prerequisite for a desirable market society
remains an important lesson. For Smith ethics is the hero-not self-interest
or greed-for it is ethics that defend social intercourse from the Hobbesian
chaos.” Charles K. Wilber ". . . conventional economics . . . remains fixated on the view that
economics is the physics of society.
In other words, most of the profession behaves as if there were a
single universally valid view of the world that needs only to be
applied.” Paul Ormerod
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