ABSTRACT

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.

part II|133 pages

The theoretical cores of heterodox economics

chapter 2|12 pages

Social provisioning process

A heterodox view of the economy

chapter 3|13 pages

The social surplus approach

Historical origins and present state

chapter 4|16 pages

Accumulation regimes

chapter 6|17 pages

The principle of effective demand

Marx, Kalecki, Keynes, and beyond

chapter 7|11 pages

Heterodox theories of value

A brief history

chapter 9|18 pages

Heterodox theories of distribution

part III|141 pages

The anatomy of capitalism

chapter 11|13 pages

Society and its institutions

chapter 17|14 pages

Money and monetary regimes 1

chapter 18|13 pages

Banks in developing countries

chapter 19|12 pages

Shadow banking

chapter 20|14 pages

The informal economy in theory and policy

Prospects for well-being

chapter 21|12 pages

Inequality and poverty

part IV|124 pages

The dynamics of capitalist socio-economic structure

chapter 22|15 pages

The accumulation of capital

An analytical and historical overview

chapter 24|13 pages

Analyzing the organization of global production

Thoughts from the periphery

chapter 25|14 pages

Labor processes and outcomes

An institutional-heterodox framework

chapter 29|12 pages

Theories of international development

The Post Keynesian and Marxian alternatives

part V|85 pages

Transforming the capitalist social provisioning process

chapter 33|13 pages

Rethinking the role of the state

chapter 34|17 pages

The twenty-first century capitalist revolution

How the governance of large firms shapes prosperity and inequality

chapter 35|11 pages

Achieving full employment

History, theory, and policy

part VI|21 pages

Conclusion

chapter 37|19 pages

Heterodox economics as a living body of knowledge

Community, (in)commensurability, critical engagement, and pluralism