Books in the Routledge Advances in Heterodox Economics series

This book explores the foundations of the current economic crisis. Offering a heterodox approach to interpretation it examines the policies implemented before and during the crisis, and the main institutions that shaped the model of advanced economies, particularly in the last two decades.

This book promises to describe political and economic dynamics as interwoven as they are in real life and it adds to that an evolutionary perspective, which allows for a long-run view. The essays in this volume explore the theoretical and methodological aspects of evolutionary political economy. In part one, the authors consider the foundational contributions of some of the great economists of the past and the second part demonstrates the benefits of adopting the methods of computer simulation and agent-based modelling. Together, the contributions to this volume demonstrate the richness, diversity and great explanatory potential of evolutionary political economy.

This collection is inspired by the coming retirement of Professor Wolfram Elsner. It presents cutting-edge economic research relevant to economic policies and policy-making, placing a strong focus on innovative perspectives. The interested reader will find careful reconsiderations of the historical development of institutional and evolutionary theories, enlightening theoretical contributions, interdisciplinary ideas, as well as insightful applications. The collection serves to highlight the common ground and the synergies between the various approaches and thereby to contribute to an emerging coherent framework of alternative theories in economics.

This book is in honour of John Edward King who has an impressive publication record in the area of economic theory with specific interest in how economic thought in the past shapes current economic theory and enforces certain paths of economic policy and economic development. This text aims to provide a clear path for pluralism to serve the economics discipline as its standard bearer, and to no longer be merely a heterodox challenge to the mainstream. This book is of interest to those who study history of economic thought, political economy and heterodox economics.

Varieties of Economic Inequality considers both theoretical perspectives and empirical evidence of aspects such as income, gender, race, technology, power, region, education and class. Ultimately, this text rejects the idea of supposed long run constant factor shares, the positive effects of inequality and the greater importance of absolute level of income compared to its unequal distribution, and instead reveals the structural inequalities that exist within societies.

John F. Henry is an eminent economist who has made important contributions to heterodox economics drawing on Adam Smith, Karl Marx, Thorstein Veblen, and John Maynard Keynes. His historical approach offers radical insights into the evolution of ideas (ideologies and theories) giving rise to and/or induced by the changes in capitalist society. Essays collected in this festschrift not only evaluate John Henry¿s contributions in connection to Marx¿s and Veblen¿s theories, but also apply them to the socio-economic issues in the 21st century.

Once again, unfettered capitalism has failed. Promises for global prosperity and peace have given way to a world of deep recession, social upheaval and political instability. Once again, mainstream economics has proved its inadequacy. Despite its technical rigor and mathematical virtuosity, it failed dramatically to respond to the current crisis. Why is this so? Mainstream economics turns a blind eye to society. By assumption, it maims its analyses by wiping away what makes us what we are. There is pressing need for a critical discussion and new ideas.

This book takes a radically different approach to the analysis of competition by rejecting the perfect vs. imperfect competition dichotomy and draws on the insights of classical political economists such as Marx, Schumpeter, Hayek and Andrews.

Post-Keynesian and heterodox economics challenge the mainstream economics theories that dominate the teaching at universities and government economic policies. And it was these latter theories that helped to cause the great depression the United States and the rest of the world is in. However, most economists and the top 1% do not want mainstream theories challenged¿for to do so would mean questioning why and how the 1% got where they are. Therefore, numerous efforts have been and are being made to discredit if not suppress Post-Keynesian and heterodox economics. These efforts have had some success; this book is a response to them.

This book explores the foundations of the current economic crisis. Offering a heterodox approach to interpretation it examines the policies implemented before and during the crisis, and the main institutions that shaped the model of advanced economies, particularly in the last two decades.

To celebrate the centenary of the most radical union in North America - The Industrial Workers of the World - this collection examines radical economics and the labor movement in the 20th Century.

Employs the concept of transformational growth to explore the investment-driven cycle of expansion of the 1990s in the US economy, and of the of role played by the ICT sector.

How do societies achieve a level of complexity, coordination, and social intelligence that far surpasses the capacity of individual human intelligence? This title addresses this question in the context of civil society generally, in which we cannot always rely on market prices to guide our way.

David Hamilton has advanced heterodox economics by replacing intellectual concepts from orthodox economics that hinder us with concepts that help us. This book brings together the essential works of David Hamilton over a fifty year period.

Concerns with the community history of heterodox economics, seen primarily through the eyes of Marxian-radical economics and Post Keynesian economics. This book discusses issues including the contested landscape of American economics in the 1970s, and the emergence and establishment of Post Keynesian economics in the US.

Seeks to answer the economic questions in terms of a theory that emerged with Adam Smith and is come to full fruition; the principle of circular and cumulative causation. This title explains the interplay of technology, firms, resources, culture, institutions and economic policy to understand the basic drives behind modern day economic dynamics.

Explains exchange rates based on the premise that it is financial capital flows and not international trade that represents the driving force behind currency movements. This book also presents an analysis of the scholarly traditions of John Maynard Keynes and Thorstein Veblen.

Offers a detailed understanding of the foundations of the global financial crisis. This work familiarizes the reader with the unified theory of heterodox macroeconomics and it's applications. It features essays that include theoretical, international, historical, and country perspectives on financial fragility and macroeconomic instability.

Discusses the pluralist economics state of play. This book presents a hands-on approach to actively incorporate pluralism into the classroom for economics lecturers.

To celebrate the centenary of the radical union in North America, The Industrial Workers of the World, this book examines radical economics and the labor movement in the 20th Century. It activates a marginalized analytical tradition which can focus on the origins and evolution of the difficulties confronting workers throughout the world.

Tony Lawson is a major figure of intellectual controversy on the back of juxtaposing two relatively simple and seemingly innocuous ideas. This book brings together some of the world's leading critics of economics orthodoxy to debate Lawson's contribution to the economics literature.

Contemporary Issues in Heterodox Economics: Implications for Theory and Policy Action argues that heterodox economics has 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.

Takes the orthodox view of 'informal work' and dismantles it piece by piece, presenting an analysis of the extent to which this phenomenon plays a significant role in developing countries across the world.

This collection of essays honors the life and work of one of the most prominent and fervent heterodox economists, Frederic S. Lee, who has been at the heart of the heterodox economics movements for the past three decades. Authors in this book demonstrate that heterodox economic has transcended the criticism of mainstream economics and, more importantly, that constructive developments are in the making by way of cross-communications among various heterodox economics traditions.