The creation of economic institutions that can function well under substantial uncertainties -- Black Swans -- is analogous to the dilemmas confronting our hunter-gatherer forefathers in the face of large-scale ecological unpredictability. The ultimate solution was not the development of a super hunter-gatherer technology that could ride out repeated catastrophe, but rather the invention, in neolithic times, of culturally-adapted 'farmed' ecosystems constructed to maximize food yield and minimize risks of famine.
Recent advances in evolutionary and ecosystem theory applied to...
The creation of economic institutions that can function well under substantial uncertainties -- Black Swans -- is analogous to the dilemmas confron...
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.
The first part of the book provides a theoretical analysis of the crisis. The roots of the 'great recession' are divided into fundamentals with origins in financial liberalisation, financial innovation and income distribution, and complementary or contributory factors such as the...
This book explores the foundations of the current economic crisis. Offering a heterodox approach to interpretation it examines the policies impleme...
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.
Frederic S. Lee's contributions to heterodox economics are centered on three themes: the making of a...
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 ...
Until the end of the early 1970s, from a history of economic thought perspective, the mainstream in economics was pluralist, but once neoclassical economics became totally dominant it claimed the mainstream as its own. Since then, alternative views and schools of economics increasingly became minorities in the discipline and were considered heterodox .
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...
Until the end of the early 1970s, from a history of economic thought perspective, the mainstream in economics was pluralist, but once neoclassical ...
Should the arts receive public support? Can the arts survive in a modern capitalist society? Can economics shed light on the nature of public support, and whether there is a rationale for public intervention? This book undertakes to examine these questions as it explores the ways government and public resources are used to support the arts.
This book applies a Veblenian approach to understanding economic development to investigate public support for the arts in an effort to determine whether this approach can elucidate economic rationales for public support. Divided into...
Should the arts receive public support? Can the arts survive in a modern capitalist society? Can economics shed light on the nature of public suppo...
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.
In a changing world that has been shaken by economic, social, financial, and ecological crises, it becomes increasingly clear that new approaches to economics are needed for both theoretical and empirical research; for applied economics as well as policy advice. At this point, it seems necessary to develop new methods, to reconsider theoretical foundations and...
This collection is inspired by the coming retirement of Professor Wolfram Elsner. It presents cutting-edge economic research relevant to economic p...
Recently, the issue of inequality has regained attention in economic and political debates. Although this interest is welcome, the debate is still mostly focused on income or wealth distribution, which is an important aspect but does not present a complete view of inequality. Most of the theoretical and empirical studies produced by economists concern personal income distribution or factor income distribution. This is more evident in the studies of the evolution and characteristics of contemporary capitalism and globalization. "
Varieties of Economic Inequality" considers both...
Recently, the issue of inequality has regained attention in economic and political debates. Although this interest is welcome, the debate is still ...
The world is in turmoil, the dynamics of political economy seem to have entered a phase where a return to normal cannot be expected. Since the financial crisis, conventional economic theory has proven itself to be rather helpless and political decision makers have become suspicious about this type of economic consultancy. This book offers a different approach. It promises to describe political and economic dynamics as interwoven as they are in real life and it adds to that an evolutionary perspective. The latter allows for a long-run view, which makes it possible to discuss the emergence...
The world is in turmoil, the dynamics of political economy seem to have entered a phase where a return to normal cannot be expected. Since the fina...
The world is in turmoil, the dynamics of political economy seem to have entered a phase where a return to normal cannot be expected. Since the financial crisis, conventional economic theory has proven itself to be rather helpless and political decision-makers have become suspicious about this type of economic consultancy. This book offers a different approach. It promises to describe political and economic dynamics as interwoven as they are in real life and it adds to that an evolutionary perspective. The latter allows for a long-run view, which makes it possible to discuss the emergence...
The world is in turmoil, the dynamics of political economy seem to have entered a phase where a return to normal cannot be expected. Since the fina...
