Conventional theory and policy either assume that markets are perfectly competitive or that they are imperfectly competitive, thus leading to prevailing views on monopoly. This book takes a radically different approach to the analysis of competition by rejecting the perfect vs. imperfect competition dichotomy.
Conventional theory and policy either assume that markets are perfectly competitive or that they are imperfectly competitive, thus leading to prevaili...
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...
Post-Keynesian and heterodox economics challenge the mainstream economics theories that dominate the teaching at universities and government econom...
This book deals with the current crises from a somewhat different the usual perspectives. It claims that causes and policy implications of these crises cannot be properly assessed by focusing on allocative efficiency or income growth alone; it requires a more general approach, based on social costs. It does not deal with social costs according to the Pigouvian or the Coasian traditions. It draws on the work of Original Institutional Economics (OIE) such as Thorstein Veblen, Karl William Kapp, and Karl Polanyi, on Post-Keynesians such as Hyman Minsky and, in general, on authors who have...
This book deals with the current crises from a somewhat different the usual perspectives. It claims that causes and policy implications of these cr...
How does culture impact economic life? Is culture like a ball and chain that actors must lug around as they pursue their material interests? Or, is culture like a tool-kit from which entrepreneurs can draw resources to aid them in their efforts? This book explores these questions and more.
How does culture impact economic life? Is culture like a ball and chain that actors must lug around as they pursue their material interests? Or, is cu...
In this new volume it is argued that network effects are much more common than usually assumed, and that they have a profound impact on many aspects of economic systems, especially technological change and economic growth. The analysis and modelling of this interrelationship is the central focus of this book.
While there exists a vast body of literature on economic growth, the theories put forward so far have had limited success in explaining observed patterns of economic growth. 'Growth cycles' in particular continue to elude standard economic models, though evolutionary economics...
In this new volume it is argued that network effects are much more common than usually assumed, and that they have a profound impact on many aspect...
In recent times, policy makers, scientists, academics and commentators have become increasingly nervous about the US economic downturn. Discussions have centred around the range and magnitude of the country's socio-economic problems, its vexing production decline and its unsatisfactory macroeconomic performance, which give rise to the following questions: what are the sources of this recent downfall? And can this situation be reversed by pursuing the same orthodox and neoliberal policies? This new edited volume, from a top international set of contributors, seeks to answer these questions...
In recent times, policy makers, scientists, academics and commentators have become increasingly nervous about the US economic downturn. Discussions ha...
Evolutionary economics implicitly deals with generic analysis of economic processes," "but thus far there have been relatively few attempts to make this stream of thought and" "analysis explicit within a common theoretical framework. ""This book explores the foundational principles of evolutionary institutional economics, with the aim of establishing common ground for scientific self-sufficiency and openness to pluralism, and of establishing the theoretical, analytical and methodological categories of a "Generic Institutionalism."
The main objective of the book is to synthesize...
Evolutionary economics implicitly deals with generic analysis of economic processes," "but thus far there have been relatively few attempts to make...
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. The union advocates direct action to raise wages and increase job control, and it envisions the eventual abolition of capitalism and the wage system through the general strike. The contributors to this volume speak both to economists and to those in the labor movement, and point to fruitful ways in which these radical heterodox traditions have engaged and continue to engage each other and with the...
To celebrate the centenary of the most radical union in North America - The Industrial Workers of the World - this collection examines radical economi...
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. We therefore turn to the insightful and...
Once again, unfettered capitalism has failed. Promises for global prosperity and peace have given way to a world of deep recession, social upheaval an...
The questions such as, 'why the focuses of national policies vary significantly across countries, although their sources of policies are to a great extent identical'; 'why national development experiences mostly cannot be transplanted successfully among countries'; 'why some ineffective institutions persist over long periods of time', have attracted numerous efforts. This book provides a new perspective and argues that the answers lie in the existence of the networks of institutions and thus of national systems of policies (NSP) within national frameworks. Institutions are the equilibria of...
The questions such as, 'why the focuses of national policies vary significantly across countries, although their sources of policies are to a great ex...
