ABSTRACT

Heterodox economics can provide a more complete and robust explanation of economic realities than orthodox (or mainstream) economics. Contemporary Issues in Heterodox Economics: Implications for Theory and Policy Action argues that this greater explanatory power gives heterodox economics 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.

The chapters in this wide-ranging volume address some of the key issues facing the global economy, including the growing disparity of income/wealth between persons and economic areas, environmental degradation, issues associated with employment, and the regularity of economic/financial crises. The authors examine potential policy responses such as modern monetary theory, models of public ownership, and the need to move beyond standard concepts of growth. They also explore the deficiencies of orthodox economics, and contend that a more pluralist approach to economics is required in the public sphere, in academia, and in the classroom in order to help face the challenges of the twenty-first century.

This book is invaluable reading for students and scholars across the social sciences who are interested in alternatives to mainstream economic thinking.

chapter |10 pages

Introduction

ByArturo Hermann, Simon Mouatt

part Part I|74 pages

Pluralism, ethics and economic method

chapter 1|21 pages

Dynamics versus statics

On the nature of heterodox and orthodox economics
ByAnders Ekeland

chapter 2|14 pages

The past and the future

The philosophy and history of economics, and the emerging Risk Society
ByJon Mulberg

chapter 3|15 pages

Hegel, Marx and the economics of inclusion

Towards an economic philosophy for a post-(non-)truth political class
BySimon Mouatt

part Part II|54 pages

Sustainable macroeconomy and structural policies

chapter 5|13 pages

Green economics insights for economists

Diversity leads us out of our silos
ByMiriam Kennet

chapter 6|16 pages

Value within the resource-based view of the firm

An approach drawing on the temporal single system interpretation of Marx
ByThoralf Dassler

part Part III|30 pages

Money and monetary regimes

chapter 8|19 pages

Central banking and income inequality

The impact of monetary policy on income distribution
ByJalal Qanas

chapter 9|9 pages

Getting the Financial Crisis wrong

The dead end that is Neoclassical macro modeling
ByJohn T. Harvey

part Part IV|60 pages

Development issues and the role of public action

chapter 10|20 pages

Center and periphery in global value chains

An interpretation based on the pioneers of development
ByCristina Fróes de Borja Reis, Fernanda Graziella Cardoso

chapter 11|18 pages

Models of fair public ownership

Lessons from Singapore and Hong Kong
ByAndrew Purves

chapter 12|20 pages

The other side of paradise

The cost of tourism in the Caribbean
ByWendy Sealy, Simon Mouatt

part Part V|70 pages

Improving pluralism in economics education

chapter 13|28 pages

Heterodox Economic Journal Rankings revisited

ByBruce Cronin

chapter 14|16 pages

Institutional practice and the inadequacy of orthodox macroeconomics

A challenge for pluralism?
ByJames Juniper, Andrew Nadolny, George Pantelopoulos, Martin Watts

chapter 15|7 pages

Pluralism and heterodox economics

BySheila Dow

chapter 16|17 pages

Improving pluralism in economics education

ByJack Reardon

chapter |3 pages

Postscript

ByVictoria Chick