Tag Archives: economics

What is Institutional Economics?

Posted on June 30, 2020 by

From William Dugger’s Underground Economics: A Decade of Institutionalist Dissent: “Institutionalism serves as the methodological conscience to the unrealistic neoclassicism that now dominates economics departments in U.S universities. Realism is the touchstone of institutionalism. Institutionalists may differ over many particulars, … Continue reading →

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Capitalism: A Journal of History and Economics

Posted on January 3, 2020 by

As we are living in the present when tragedy and farce mix and make the past look oracular, a new history of Capitalism must be introduced for the sake of the future. The new year brought with it a much-needed … Continue reading →

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Neoliberalism. A critical reader.

Posted on September 20, 2019 by

got banned from the library for moving all the books on trickle down economics to the mythology section (@Nasharchy, May 11, 2017) *** Join Economic Sociology and Political Economy community via Facebook / Twitter / LinkedIn / Instagram / Tumblr / Reddit / Telegram

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Political Economy: Origins, Meanings, Changes

Posted on September 14, 2019 by

“Political economy should be a human science.”                                                                    … Continue reading →

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The Virtues of the Market: Wilhelm Röpke as a Cultural Economist

Posted on August 24, 2019 by

by Erwin Dekker* Neoliberalism is often associated with an excessive focus on the market at the expense of both the state and society. A new book Wilhelm Röpke (1899–1966): A Liberal Political Economist and Conservative Social Philosopher, edited by Patricia Commun … Continue reading →

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Finance, Class, and the Birth of Neoclassical Economics: The Marginalist Revolution Revisited

Posted on July 28, 2019 by

by Yair Kaldor* In economic textbooks, the concept of “value” is regarded as nothing more than the prevailing market price. This definition might seem self-evident, but it stands in sharp contrast to the classical theories of Adam Smith and David … Continue reading →

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Neither Market Nor State?

Posted on July 19, 2019 by

“And what if the choice had never been between Market and State organizations, between liberals and socialists, but instead between those who believe in the miracles of a pre-established harmony and those who refuse to ‘believe in miracles’? Could we … Continue reading →

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Galbraith vs. Friedman — “The emancipation of belief is the most formidable of the tasks of reform, the one on which all else depends”

Posted on November 23, 2018 by

John Kenneth Galbraith was one of the most famous and influential American economists and public intellectual of the post-WWII era. Galbraith, who leaned toward post-Keynesian economics embracing an institutionalist perspective, was a very prolific writer and his books (The Great … Continue reading →

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Nobel winner Paul Romer on the backwardness of economics and economists’ misleading use of math

Posted on October 8, 2018 by

A fresh Nobel Prize laureate in economic sciences Paul Romer published three years ago an interesting short paper “Mathiness in the Theory of Economic Growth”. His main assertion (which granted him with colleagues’ reactions such as “don’t make waves“) was that … Continue reading →

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Central Banks, Technocratic Power, and the Fear of Democracy

Posted on September 12, 2018 by

Jacqueline Best has an interesting new article that starts with catchy and provocative analogy and then presents thought-provoking discussion and arguments: “What do border guards and central bankers have in common? Both operate, on a day-to-day basis, in political spaces exempt … Continue reading →

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Economics as Religion

Posted on September 3, 2018 by

COME WORSHIP WITH US “A LESSON IN ECONOMICS” (Photo courtesy of  Jodi Beggs – Everglades, Florida, USA, 2013) I rest my case 😉  Or, at least, Max Weber could be assigned to teach it… 🙂   *** Join Economic Sociology and Political Economy … Continue reading →

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Robert Solow’s sarcastic economics

Posted on July 14, 2018 by

Robert Solow, one of the most honored and influential economist of the second half of the 20th century, has been involved throughout his career in a series of polemics with several neoliberal (and other) economists in academia and government. Along with substantial assertions and explanations, … Continue reading →

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Economic Sociology, Homo Economicus, and Performativity of Economics

Posted on July 7, 2018 by

It is never too late, nor too early, to reread and contemplate a good theory. For example, to mull over Michel Callon’s programmatic statement about the performativity of economics, presented two decades ago in the introduction to The Laws of the Markets: … Continue reading →

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The IMF’s Reconstruction of Economic Orthodoxy since the Crash

Posted on June 29, 2018 by

by Ben Clift* Analysing how the International Monetary Fund (IMF) contributes to prevailing understandings of sound economic policy reveals how economic orthodoxy is historically contingent, and throws into relief the malleability of economic policy credibility. These indirect IMF attempts to … Continue reading →

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Folk economics, economic sociology, and Trump’s campaign

Posted on May 2, 2018 by

“When did we beat Japan at anything? They send their cars over by the millions, and what do we do? When was the last time you saw a Chevrolet in Tokyo? It doesn’t exist, folks. They beat us all the … Continue reading →

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