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In diesem Buch wird eine integrale Theorie der modernen Gesellschaft mit Tausch und Geld als zentrale Elemente entwickelt. Die vorgeschlagene Theorie ermöglicht einen neuen, radikalen Blick auf das, was Gesellschaft, Wirtschaft und vor allem Geld ist. Der Autor baut seine Theoriearchitektur Schritt für Schritt auf. Er klärt den Gesellschaftsbegriff und trifft die grundlegende Unterscheidung von Tausch und Pooling. Dann setzt er sich mit den Werttheorien der klassischen und neoklassischen Ökonomie auseinander und schlägt vor, diese durch eine Theorie der Wertformen zu ersetzen. Schließlich führt er die höchst unterschiedlichen Auffassungen und Theorien über Geld und seine Funktionen zu einem neuen, ganzheitlichen Ansatz zusammen. Das Buch richtet sich an alle, denen es um eine integrale Sicht auf Wirtschaft und Gesellschaft und deren nachhaltige Gestaltung geht.

This book discusses the role played by powerful global institutions such as the IMF, the World Bank, the World Trade Organisation, multinational corporations, and the international credit rating agencies in keeping Africa marginalised in the world economy. The book focuses on the intrusive roles of these institutions as enablers and beneficiaries of capital outflows and financial subordination in Africa. Diverging from the official narrative that touts China and the other emerging economies as global reformers that are poised to partner Africa in its fight against financial subjugation, the book instead argues that, like the Western powers, the emerging economies are benefiting prodigiously from a rigged global financial system that keeps Africa as a net creditor to the rest of the world. The book draws its theoretical framework from the repressed heterodox theories including dependency, core-periphery, world systems and Marxist theories as well as the decolonial approach. It concludes with a call for a decolonial African agency that should champion an epistemic rebellion against the neo-liberal and neo-classic economic traditions that have been historically deployed to justify Africa's subordinated position in the global economic governance. This book comes at moment in time when Africa is ready to become a Rule Maker not a Rule Taker. The analysis Dr. Moyo presents having been in the front line of public policy and international negotiations demonstrate the need for Africa to re-write the rules to foster our own Transformation. Jason Rosario Braganza, Executive Director, African Forum and Network on Debt and Development (AFRODAD)

This book provides a fresh perspective on international development. By integrating ethical concepts and moral philosophy with political economy, Nikos Astroulakis and Nikolaos Karagiannis explore three levels of ethical analysis: meta-ethical, normative ethical, and applied ethical. This approach underscores the importance of ethics in shaping development goals and strategies tailored to an individual society. The book uses a framework rooted in heterodox political economy to redefine what it means to be a “good society.” It challenges conventional economic models and proposes development ethics as a compelling alternative. Readers will discover new ways to understand the purpose of development and innovative methods to evaluate its success. Development Ethics explains how ethical principles can transform development policies, making it an essential read for those committed to building a more just and equitable world.

This textbook presents a new way to visualize or imagine the evolutionary architecture of economics, to judge both its practical outcomes and its ultimate value. Evolutionary economics employs an Aristotelian architecture. The cognitive value of this imagination[H1] must be directly relevant to the evolutionary theory and practice of designing the architecture of the economic system. Mainstream economics completely ignores design value in order to concentrate on the ideal, Platonic vision of the economy. The current system is no longer one that converges on a constant entity, because the system is constantly evolving. The advent of the digital economy is an indispensable next step, and computational power and algorithmic rationality are increasingly dominating the economic system—and complicating it. In today's society, neither fault nor malice matters in the algorithmic or human system. There is little room left for the effective working of human reason. Correspondingly, the meanings of money, exchange, the market system, auctions, production, consumption, and the currency transaction system are poised to change. In most cases, there will be digital counterparts. A smart contract tied together with DLT, for example, makes it possible to design an economically well-behaved peer-to-peer (P2P) system, which ranges from the micromarket to the international currency transaction system. The introduction of this technology and its architectural design may suggest what a truly decentralized future entails. This change may also bring about a new understanding of existing social consensus and practice. Thus, the implementation of these considerations naturally leads to a new style of chapter structuring in this book, from the classical analytical approach to exploring computational methods and digital tools: in many cases, the problems presented in each chapter are combined with discussions of a respective computational method and its practical value.

This edited volume celebrates a quarter-century's anniversary of the foundation of the Japan Association for Evolutionary Economics (JAFEE) and proposes the future perspectives of evolutionary economics on the grounds of its achievements in Japan. When JAFEE was founded in 1997, hundreds of ambitious non-neo-classical economists gathered in this forum to advance new directions of economic research. Succeeding in 2004, JAFEE launched an international academic journal, Evolutionary and Institutional Economics Review (EIER), which is now published by Springer.Evolutionary economics found rich soil for growth in Japan, where non-orthodox directions in economic theory and historical interest in the past masters'works occupied a solid portion of economics academism. Evolutionary economics in Japan has grown with the collaboration of non-neoclassical economics including Marxian and post-Keynesian economics, agent-based modeling, complexity studies, comparative economic systems, and studies in industrial evolution. Combining the renovation of classical value theory as the micro-foundation of evolutionary economics is one of its most conspicuous achievements. Experimental methods are also used in the artificial domain, regional studies (community currencies), and other domains. Further, evolutionary ideas stimulated comparative analysis of national economies in the development and system transition. The variety of chapters in this volume reflects the broad perspective and the multiplicity of approaches to evolutionary economics in Japan, which thus stimulates its worldwide advance.

Economics still adheres entirely unreflectively to a mechanistic worldview and machine thinking. Epistemologically, it thus remains in the 19th century, and its assumptions and theories, methods, and models therefore stand in stark contradiction to the findings of all other social and natural sciences as well as a multitude of empirical facts. Through a discourse-analytical examination of sixteen basic concepts in economics, based on twelve standard economics textbooks, their ideahistorical origin and use are worked out and compared and related to the current state of knowledge of other disciplines. This reveals the structural, methodological, and content errors of economics in a clear manner. Especially for critical students, who have long been demanding an economics that is in line with the current state of research and faces the challenges of the 21st century, this opens up the possibility of a new approach to economics. The Content Discourse-analytical examination of fundamental assumptions and concepts of economics from'labor'to'wealth'Structural, methodological, and content critique of economic thinking from an epistemological perspective Critical examination of the use of empirical and statistical data, the method of gaining knowledge, and the model thinking in economics

This is the second volume of a two-part series on Concordian economics, an innovative paradigm that builds upon the Aristotelian-Aquinian tradition of economic justice. Having introduced Concordian economics in the first volume as a compelling research paradigm that addresses the limitations of mainstream economics, this second installment takes the exploration further by examining its real-world applications in four policy areas.With a focus on industrial organization, labor markets, monetary, and fiscal policy, the author advocates for a transformative approach to economic rights and responsibilities. By promoting a moral economy, this book offers a substitute to the Pac-Man approach to industrial organization. The book challenges traditional notions by discussing the ownership rights concerning larger corporations and offering visionary solutions, in the steps of Louis O, Kelso, empowering workers and employees to participate in the ownership of robots and artificial intelligence. The Fed has given a nod of approval to the creation of a new Concordian monetary system. Following the advice of eight Nobel Laureates in economics, the proposed fiscal reforms emphasize taxing only the value of land and natural resources, ushering in a society where the use of our natural resources and machines serves the common good, economic freedom thrives, and forced income redistribution becomes obsolete. This book illustrates a vivid vision of a world founded on universal economic rights and responsibilities, offering fresh perspectives on a more just and sustainable future. It appeals to scholars and students of economics and related fields, as well as anyone interested in a free but just economic system.

This book brings together the work of Maria Cristina Marcuzzo and highlights her investigations into the history of economic thought and her quest for an alternative economic thinking. Following an extended introduction that contextualised her ideas and highlights consistent themes throughout the volume, it discusses the theoretical and methodological approaches that have come to define the history of economic thought as a discipline. The work of David Ricardo is then debated, alongside ideas of money and monetary systems. Finally, the impact of the Cambridge economists is presented, with a particular focus on Luigi Pasinetti, Joan Robinson, Piero Sraffa, and John Maynard Keynes.This book combines theoretical discussions with historical analysis, biographical narratives, and original archival researcher to provide rich insights into the history and impact of economics. It will be of interest to students and researchers working within the political economy and the history of economic thought.

This book contains a selection of the latest research in the field of Computational Social Science (CSS) methods, uses, and results, as presented at the 2023 annual conference of the Computational Social Science Society of the Americas (CSSSA). This conference is held in Santa Fe, New Mexico, November 2–5, 2023. CSS is the science that investigates social and behavioral dynamics through social simulation, social network analysis, and social media analysis. The CSSSA is a professional society that aims to advance the field of computational social science in all areas, including basic and applied orientations, by holding conferences and workshops, promoting standards of scientific excellence in research and teaching, and publishing research findings and results.

This book discusses the requirements and preconditions for transforming the economy in order to achieve defined goals while maintaining and utilizing the efficiency of markets. It shows how economic concepts and practices need to be reconsidered and revised in the face of enormous ecological damage and significant economic inequality across much of the world. The book systematizes essential ecological and social targets and presents factors influencing Economic Transformation. Various transformation concepts are discussed with regard to their contribution to adequate economic design and corresponding options for action are developed. Businesses, private households, the state and the commons are involved in these reflections, but also supranational institutions and (civil) society. The ecological compatibility of the economy and the reduction of excessive divergencies in income and wealth are the guiding principles of the overall considerations. In addition, the extent to which the concerns of Economic Transformation are reflected in the government programs of the USA, Great Britain, South Africa and Germany is examined. The book will be of interest to anyone who shares the belief that increasing well-being in a market-oriented society must go hand in hand with ecological compatibility and improved social equity, both globally and within societies.

During the last ten years, China has made remarkable progress in the development of its venture capital market; however, Chinese domestic venture capital has been marginalized by American competitors. Using American venture capital as a mirror, this book empirically demonstrates that Chinese domestic venture capital lacks the four factors related to the success of their American counterparts: large and independent funding, application of incentive mechanisms, efficient exit channels, and a high-risk tolerance level. More importantly, the author shows how these defects are closely linked to the corporate governance of state-controlled listed companies. Featuring updated data and new developments since the publication of the first edition in 2012, with a focus on corporate social responsibility and the stakeholder-oriented model in Chinese small- and medium-sized enterprises (SMEs), this new edition demonstrates the negative economic and social impact of corporate governance of Chinese state-controlled listed companies and identifies potential policy reforms to harmonize agency costs and adaptive efficiency. This book is great for researchers, scholars, students, and policymakers interested in corporate governance of Chinese venture capital markets.

This book proposes a wealth-additive scheme of managing and maximizing (win–win and sharing) the marginal value (eco-entropy) of artifacts by humanizing the artifacts'enterprise and their economics with nature. This type of clockwork would be achieved on a base of the science of nature versus artifacts and the body of science in my Springer books since 2008. My books are advancing factory science, economics, and the science of artifacts and play their role in the sandwich theory and its pair-map microcosm of the 3D-type, toward the development of body science. Then, the wealth-additive goal of the “body” is not only similar to the marginal profit, GDP, and value in economics, but also means the marginal diversity (eco-entropy) and its wealth of economics versus reliability (sustainability) in the body of the world. The modern world, for example, is faced with deadlocked negotiations over the Sustainable Development Goals (SDGs) bodies at the United Nations. Thus, the forthcoming world of SDGs would be much better and more constructive at transforming traditional bodies of the 3M&I class (human, material, money, and information) as some nano (gene/therblig)-transformation toward eco-entropy(marginal value/diversity) on earth. This semi-visible world is traditionally limited to a molecular size and is too rough at the practical rig-level. Thus, any unsolved and invisible contradictions left behind on earth are subject to SDGs in the practical world. This approach proposes a visible method that could find and solve these contradictions (angles) by transforming the artifact's body, consisting of the 3M&I gene. The pair-map microcosm and its Matsui's M-equation have been designed mainly based on nature and science books on artifacts (in 2016 and 2019). Following these visible methods, our well-being subject might be able to make a breakthrough or make such unsolved contradictions or stalemates subside as any SDGs society of individuals in the near future.Finally, the book will explore and construct a new academic discipline involving 3M&I body science versus cybernetics. And, the study introduces validation cases of convenience stores, self-driving cars, and robotization (individualization) of artificial objects as the realization of the supply–demand system and the ideal form of artificial and natural bodies. Based on this perspective, the dialogue is conducted according to a creative structure of six parts, twelve chapters, and two appendices.

Außerhalb der ökonomischen Standardliteratur wird in wirtschafts- und sozialwissenschaftlichen Fachgemeinschaften schon länger über hybride ökonomische Akteure und Organisationen gesprochen, geschrieben und diskutiert. Allerdings sind die Begründungen für die Zuschreibung von Hybridität in den hier untersuchten Fällen weder einheitlich noch stets nachvollziehbar.In diesem Buch wird ein institutionenökonomischer Zugriff für die Analyse von ökonomischer Hybridität gewählt, der sich an der Theorie der Wohlfahrtsproduktion von Wolfgang Zapf und der Unterscheidung institutioneller ökonomischer Sektoren im Europäischen System der Volkswirtschaftlichen Gesamtrechnung orientiert.Der Autor verdeutlicht damit klar nachvollziehbar und theoretisch fundiert die Gestalt- und Formbarkeit der Ökonomie durch die personalen Akteure in ihren organisatorischen Kontexten. Er schließt damit an die Argumentation seines Buches'Ökonomie ist menschlich'aus dem Jahr 2020 an.

Der Klimawandel gefährdet die Existenzgrundlage zukünftiger Generationen. Damit zukunftsfähige und klimaverträgliche Gesellschaften entstehen können, sind tiefgreifende Änderungen von Produktionsprozessen, aber auch von Konsummustern und Lebensstilen notwendig. In diesem Sammelband werden Möglichkeiten und Grenzen der Ausweitung alternativer Wirtschafts- und Lebensformen erkundet. Dabei werden kleine Unternehmen und nachhaltige Bildungsinitiativen genauso betrachtet wie Regionen, Berufszweige und Großunternehmen auf ihrem Weg in eine nachhaltige Zukunft.

Um die Wirtschaftswissenschaft ist es schlecht bestellt: Sie hat sich auf einen Blickwinkel verengt, dessen Erklärungskraft nicht erst in der Weltfinanzkrise nach 2007 heftig in Frage gestellt wurde, sondern deren Politikempfehlungen sogar die Krise erst ermöglichten und deren Folgen verschärften. Und auch zur Lösung der großen Umweltprobleme unserer Zeit scheint sie nicht viel beitragen zu können. Abseits der Standardökonomik hat sich allerdings eine kritische Perspektive – die heterodoxe Ökonomik – entwickelt, die die Grundannahmen der Standardökonomik zurückweist und in verschiedenen Schulen – u.a. dem Postkeynesianismus, der Komplexitätsökonomik und der Ökologischen Ökonomik – Fragestellungen entwickelt und Alternativen bereitstellt, die die Standardökonomik herausfordert und einen Paradigmenwechsel nahelegt.

This is the first part of a two-volume set on Concordian economics, a new paradigm whose core completes the Aristotelian-Aquinian project of economic justice. The book delves into the history of economics and presents Concordian economics as a response to the concerns and shortcomings of mainstream economics. Demand-side economics is represented in the process of consumption—the expenditure of monetary wealth to acquire real wealth and financial wealth of a different nature. In contrast, supply-side economics is represented in the production process, the process of producing real wealth, e.g. tables, chairs and foodstuffs. Institutionalists will also welcome this book because it ties the world of real wealth to that of monetary wealth through the process of distributing the value of ownership of both monetary and real wealth as they are created. The book begins with an introduction to Concordian economics, followed by a discussion of how to restore relevance to the fieldof economic studies. It also presents a revision of the Keynesian model designed to gradually address the major social, economic, and political causes of discord. Moreover, the author warns against the separation of economics from the world of physical things as well as the world of legal and moral issues. Following a discussion on the measurement of real wealth, econometrics is introduced in accordance with the categories of Concordian economics. Lastly, the book develops a theory of economic justice by defining a set of economic rights and responsibilities that guide economic behavior and policy.This book appeals to scholars and students of economics and related fields, as well as anyone interested in reintegrating economics into the social context.

Dieses Buch untersucht, warum österreichische Ökonomen es versäumen, den Rahmen der spontanen Ordnung auf kooperative Beziehungen – wie einen dynamischen und sich entwickelnden öffentlichen Sektor – anzuwenden, die einen florierenden Markt ergänzen könnten. Als direkte Antwort auf Israel Kirzners'The Driving Force of the Market'stellt sie die traditionelle österreichische Wirtschaftswissenschaft infrage, indem sie die demokratische Prozesstheorie als Parallele zur Marktprozesstheorie vorschlägt und die Möglichkeiten einer Wirtschaftsorganisation aufzeigt, die sich die Kraft einer transparenten und effektiven Demokratie zunutze macht. Unter Berücksichtigung der zentralen Probleme, die in sozialistischen und kapitalistischen Ländern aufgrund eigennütziger politischer und wirtschaftlicher Akteure aufgetreten sind, hebt'Die treibende Kraft des Kollektivs'die Vorteile des öffentlichen Sektors hervor, die sich daraus ergeben, dass sich Kultur und Institutionen endogen als spontane Ordnung des öffentlichen Sektors entwickeln können

This is the first book that systematically considers the academic achievements of Japanese institutionalist post-Keynesian economists in the postwar period and argues that we can learn much from their intellectual heritage. Those Japanese economists include the world-renowned figures, Shigeto Tsuru and Hirofumi Uzawa, whose inheritance came from Keynes, Marx, and institutionalism. In the era of globalization after the 1990s, economic inequality and social divide have intensified all over the world. In this situation, the academic achievements of those economists in postwar Japan should be reconsidered for the aim of establishing a new political economy. With this perspective, the book looks at what we can learn from Japanese institutionalist post-Keynesian economists In particular, the essence of research work that each of them developed is identified, focusing on the total image of the economy for contemporary capitalism. Those economists benefited from the diverse legacies of Keynes, Marx, Kalecki and institutionalist economists such as Veblen and Galbraith. When their research is examined systematically, Japanese institutionalist post-Keynesians are commonly characterized as those who developed their institutional analysis of contemporary capitalism with in-depth theoretical and empirical studies, with the aim of establishing their own political economy as the moral science of civil society. These important features provide us with insightful implications for institutional economics in the 21st century.

Es gibt unglaublich viele und unglaublich schwerwiegende Ungerechtigkeiten. Acht Millionen Menschen verhungern jedes Jahr. Milliarden Menschen können ihre Möglichkeiten und Fähigkeiten nicht ausleben. Gleichzeitig werden Einzelne mit zum Teil unsozialem Verhalten märchenhaft reich. Viele Menschen spüren, dass etwas in der globalen Wirtschaft und ihren Gesellschaften schief läuft, aber es fällt ihnen schwer, ihr Unbehagen zu artikulieren. Kann man überhaupt sagen und entscheiden, was „gerecht“ ist? In diesem Buch geht Christian Thielscher dieser Frage nach und entwickelt ein Verständnis von „Gerechtigkeit“, das mehr ist als eine bloße Annahme, sondern das sich auf neue naturwissenschaftliche Erkenntnisse stützt. Dadurch gelingt der Nachweis, dass „Gerechtigkeit“ nicht nur evolutionsbiologisch sehr alt ist und in unserem Gehirn „fest verdrahtet“ ist, sondern, dass man auch inhaltliche Kategorien bestimmen kann, die bei der Beurteilung darüber helfen, was „gerecht“ist.Zunächst wird der Frage nachgegangen, was unter „Wirtschaft“ zu verstehen ist, welche Rolle Wirtschaftswissenschaften dabei spielen und welchen Einfluss dies auf das Gerechtigkeitsverständnis hat. Dabei wird sich zeigen, dass Teile der herrschenden Wirtschaftstheorie unvollständig sind, und dass sie möglicherweise dazu beitragen, ungerechte Verteilungen zuzulassen. Schließlich wird untersucht, was was unter „Gerechtigkeit“ zu verstehen ist. Der Autor entwirft ein Modell, das die Kernelemente der Gerechtigkeit präzise beschreibt und zeigt, dass es in früheren Theorien bereits angelegt war und dass es sich auch mit naturwissenschaftlichen Befunden untermauern lässt. Abschließend werden mithilfe des vorgestellten Gerechtigkeitsmodells typische (und bisher ungelöste) Gerechtigkeitsfragen exemplarisch analysiert und erklärt. Auf Fragen zur politischen Umsetzung von Gerechtigkeit und zur Effizienz von Umsetzungsprozessen wird punktuell eingegangen.

The book responds to the need for greater clarity regarding the relationship between descriptive, evaluative and prescriptive approaches within positive and normative economics. It also analyses the entanglement between evaluative and prescriptive perspectives within several theoretical frameworks in normative economics such as social choice theory, the capability approach, behavioural welfare economics and various theories of justice.It provides a forum for discussion between various schools of economic thought and several theoretical frameworks on the relationship between the study of facts, norms and values, with particular emphasis on classical political economy, the Marxian school of economics, the Frankfurt School, the Austrian school, the Chicago school, rational choice theory, expected utility theory, behavioural economics, experimental economics, development economics, welfare economics, public economics, constitutional political economy, the capability approach and politico-economic theories of justice.Given the scope of questions treated in this book, it will be of interest to economists, historians of economic thought, political philosophers and philosophers of science, especially those interested in the philosophy and epistemology of economics.

This book examines the impact of neoliberalism on peasant agriculture as a key livelihood strategy in Southern and Eastern Africa, against the background of the current development crisis and the crossroads that Southern and Eastern Africa faces. It systematically analyses how the neoliberal architecture has deepened extroverted production for capitalist accumulation and how this has been to the detriment of the rural labour force and small scale and communal landowners. Apart from examining how neoliberalism has triggered land alienations, the book further argues that such policies have also impacted negatively on food security in a number of ways. The book presents empirical evidence through twelve case studies, emerging from in-depth original fieldwork carried out in seven countries in the Southern and Eastern African region. This book is a must-read for scholars of economics,sociology, anthropology, history, agrarian studies and political science, as well as practitioners and policy-makers, interested in a better understanding of the impact of the agrarian neoliberal restructuring on the peasantry in Southern Africa.

This book is comprised of the latest research into CSS methods, uses, and results, as presented at the 2020 annual conference of the Computational Social Science Society of the Americas (CSSSA). Computational social science (CSS) is the science that investigates social and behavioral dynamics through social simulation, social network analysis, and social media analysis. The CSSSA is a professional society that aims to advance the field of computational social science in all areas, including basic and applied orientations, by holding conferences and workshops, promoting standards of scientific excellence in research and teaching, and publishing research findings and results. The above-mentioned conference was held virtually, October 8 – 11, 2020. What follows is a diverse representation of new results and approaches to using the tools of CSS and agent-based modeling (ABM) in exploring complex phenomena across many different domains. Readers will therefore not only have the results of these specific projects upon which to build, along with a wealth of case-study examples that can serve as meaningful exemplars for new research projects and activities, they will also gain a greater appreciation for the broad scope of CSS.

This book presents a unique real-world-centred approach to economic life from a phenomenological approach. It offers a much-needed alternative to conventional economic thinking, giving a transdisciplinary depiction of the economic process's social, cultural, technological, political, and ecological dimensions. Doing so appeals to students and researchers in economics aiming to get an alternative to the reductionist model-based approach.Written in a jargon-free and non-technical way, it appeals to non-economists alike and those seeking a more profound and living understanding of the economic process. What is the role of nature in the economic process? Is there more to economics than we have been told? Do we have infinite needs? What are these needs? Can we keep on growing forever? Does economic growth improve our wellbeing? Why is the income gap widening? What is the role of financial capital in our current world? Are there other forms of producing, distributing, and consumingwealth beyond markets? What are the functions of markets, and how do they work in the real world? These and many other aspects are discussed in living and holistic ways in this book. It is a must-read for all those interested in gaining a more profound and genuine understanding of our current reality and those looking for ways out of our current crises.

This book advances the debate on socio-economic development and multinational corporations (MNCs). It provides an actor-centered perspective and develops the framework called ‘Conflating Capitalisms'that allows for a better understanding of both MNC-induced institutional change in the host country and the subsequent impact on local development. The book uses the empirical case of Western MNCs in Latin America. It applies a sequential mixed-method design, including a large-scale elite survey on corporate behavior and in-depth, semi-structured interviews with local decision-makers on the institutionalization of German dual vocational training (DVT) in Brazil.The book presents strong evidence for both behavioral contradiction in the host country - with MNCs showing alien-to-the-system behavior - and subsequent actor-induced institutional change, with varied developmental impact. Additionally, the book offers novel insights into MNCs'handling of missing complementary institutions and the institutionalization process of coordinated practices in Latin America.This book appeals to scholars, students, and practitioners who are interested in advancing the field of development and MNCs.

The chapters in this volume explore, engage and expand on the key thinkers and ideas of the Austrian, Virginia, and Bloomington schools of political economy. The book emphasizes the continuing relevance of the contributions of these schools of thought to our understanding of cultural, social, moral and historical processes for interdisciplinary research in the social sciences and humanities. An analysis of human action that deliberate divorces it from cultural, social, moral and historical processes will (at least) limit and (at worst) distort our understanding of human phenomena. The diversity in topics and approaches will make the volume of interest to readers in a variety of fields, including: anthropology, communications, East Asian languages & literature, economics, law, musicology, philosophy, and political science.

Zur Analyse des wirtschaftlichen Wandels benötigt man wissenschaftlich fundierte Konzepte, Methoden und Instrumente, die der Verlaufs- und Ergebnisoffenheit von Prozessen in realer Zeit Rechnung tragen. In kompakten Einzelbeiträgen fasst der vorliegende Band die grundlegenden Konzepte und Methoden der Evolutorischen Ökonomik zur Untersuchung von Prozessen des wirtschaftlichen Wandels zusammen. Ausgewählte Anwendungsfelder belegen sowohl die wissenschaftliche Bedeutung als auch die gesellschaftliche Relevanz des evolutionsökonomischen Ansatzes. Der interdisziplinäre Diskurs zeigt Anknüpfungspunkte z.B. zur Psychologie, Verhaltensforschung oder Politikwissenschaft. Ein ideengeschichtlicher Überblick zu den Wegbereitern der Evolutorischen Ökonomik rundet das Bild ab. Wie ein Kaleidoskop, das trotz der disparat liegenden Einzelteile ein Muster zeigt, unterstreicht der Band die Einheit des evolutorischen Denkens in der Ökonomik innerhalb einer Vielfalt unterschiedlicher Themen und methodischer Ansätze. Darin kommen der plurale Charakter sowie die Experimentierfreudigkeit und Offenheit für innovative Ansätze dieser Forschungsrichtung zum Ausdruck.

Common wealth dividends are universal cash payments funded by fees on the private use of common resources like land, minerals, and the atmosphere as a carbon sink. Thomas Paine's 1797 pamphlet Agrarian Justice and Alaska's Permanent Fund Dividend are staples in the literature on Basic Income, but there is much more to common wealth dividends beyond these highlights, and common wealth dividends have a distinctive ethical justification and distinctive policy implications that merit discussion. This monograph, the most comprehensive study of common wealth dividends to date, will be of interest to students, teachers, and advocates of Basic Income and those in the field of environmental studies, including sustainable development, natural resource management, and climate policy.

This volume presents selected contributions from the 2018 conference of the International Schumpeter Society (ISS). The selected chapters in this volume reflect the state-of-the-art of Schumpeterian economics dedicated to the three conference topics innovation, catch-up, and sustainability. Innovation is driving catch-up processes and is the condition for a transformation towards higher degrees of sustainability. Therefore, Schumpeterian economics has to play a key role in these most challenging fields of human societies'development in the 21st century. The three topics are well suited to capture the great variety of issues, which have the potential to shape the scientific discussion in economics and related disciplines in the years to come. The presented contributions show the broadness and high standard of Schumpeterian analysis. The ideas of dynamics, heterogeneity, novelty, and innovation as well as transformation are the most attractive fields in economics today and offer the most prolific interdisciplinary connections now and for the years to come when humankind, our global society, has to master the transition towards sustainable economic systems by solving the grand challenges and wicked problems with which we are confronted today. Therefore, the book is a must-read for scholars, researchers, and students, interested in a better understanding of innovation, catch-up, and sustainability, and Schumpeterian economics in general.The chapter “Industrial life cycle: relevance of national markets in the development of new industries for energy technologies – the case of wind energy” is available open access under a CC BY 4.0 License via link.springer.com.

This book explores an alternative approach to the conventional, market-based, view of economic theory and economic policy, at theoretical, numerical and applicable levels. The chapters provide a theoretical, empirical, and algorithmic approach to marcodynamics, Sraffian economics, and current policy issues. Post-Keynesian macroeconomics, business cycle theory, the trade cycle, microfoundations, and the Philips Machine are also covered. This book aims to challenge orthodox ideas and provide a lens through which to honour the work of Stefano Zambelli. It will be of relevant to students and academics interested in economics.

This book explores the question of whether and how meme theory or “memetics” can be fruitfully utilized in evolutionary economics and proposes an approach known as “economemetics” which is a combination of meme theory and complexity theory that has the potential to combat the fragmentation of evolutionary economics while re-connecting the field with cultural evolutionary theory. By studying the intersection of cultural and economic evolution, complexity economics, computational economics, and network science, the authors establish a connection between memetics and evolutionary economics at different levels of investigation. The book first demonstrates how a memetic approach to economic evolution can help to reveal links and build bridges between different but complementary concepts in evolutionary economics. Secondly, it shows how organizational memetics can help to capture the complexity of organizational culture using meme mapping. Thirdly, it presents an agent-based simulation model of knowledge diffusion and assimilation in innovation networks from a memetic perspective. The authors then use agent-based modeling and social network analysis to evaluate the diffusion pattern of the Ice Bucket Challenge as an example of a “viral meme.” Lastly, the book discusses the central issues of agency, creativity, and normativity in the context of economemetics and suggests promising avenues for further research.

A major objective of this monograph is to present an agent-based simulation of artificial populations. The focus is on possible unexpected or catastrophic events that may spontaneously appear in simulations. A short recall of the tenets of the theory of catastrophes is given. Several examples of artificial society simulations are provided as the main topic of the book. With agent-based modeling, possible catastrophes and unexpected events in artificial populations are simulated. The book presents a new modeling and simulation tool, applied to social system simulation. The models are coded in the object- and agent-oriented language Bluesss (Blues Simulation System), related to the C++ language. The program code consists of a series of generic declarations of processes. Each of them includes a number of events that are coded in C++. At the runtime, a population of objects is generated. All the objects (agents) start to execute their own events, and interact with one another. During the simulations it is possible to observe the macro-behavior of the population, where some unexpected or'catastrophic'events occur. The examples include a stock market crash, catastrophes in extended prey–predator systems, growing organisms and cancer, epidemics, social inequality and economic decay, mass-service systems, and more. Remarks on possible simultaneous events are also included.

This ground-breaking new textbook takes a thematic approach to the history of economic thought, introducing current economic issues and examining the relevant arguments of key economists. By taking this innovative approach, the book sets these pivotal ideas in a contemporary context, helping readers to engage with the material and see the applications to today's society and economy. Based on courses developed by the authors, the text introduces a range of perspectives and encourages critical reflection upon neoclassical economics. Through exposure to a broader spectrum of sometimes conflicting propositions, readers are able to evaluate the strengths, weaknesses and relevance of different economic theories. Recharting the History of Economic Thought is an invaluable companion for those taking courses in the History of Economic Thought, the Development of Economic Ideas, Developing Economic Thinking or Economic Thought and Policy. It will also appeal to anyone looking for an introduction to pluralist approaches to economics.

A Great Leap Forward: Heterodox Economic Policy for the 21st Century investigates economic policy from a heterodox and progressive perspective. Author Randall Wray uses relatively short chapters arranged around several macroeconomic policy themes to present an integrated survey of progressive policy on topics of interest today that are likely to remain topics of interest for many years. - Rejects neoclassical orthodoxy as the appropriate tool for understanding 21st century economic and social life - Considers subjects such as innovation and technological progress - Explores public institutions, global trade, and financial regulation

George Stigler (1911-1991) was unquestionably one of the post-war giants of the economics profession. Along with such compatriots as Milton Friedman, Aaron Director, Gary Becker and others at Chicago, he would manage to radically reshape the contours of the discipline, engineering a virtual counter-revolution against the previous post-war consensus. Stigler essentially pioneered the fields of industrial organisation and regulatory economics while contributing landmark studies to the history of economic thought. George Stigler was awarded a much-deserved Nobel Prize in 1982.At heart always a shy boy from the provinces, defending himself and his beliefs against the demands of a more wicked and devious world, he remained one of the only truly inscrutable figures in the history of modern economics. A kind, deeply caring family man, he fended off those outside his inner circle by employing a razor sharp, and often cruel, wit, keeping friends, colleagues and especially enemies at an arm's distance. “… [there was] the student who came to George complaining that he didn't deserve the ‘F'he'd received in George's course. George agreed but explained that ‘F'was the lowest grade the administration allowed him to give.” Many who had the fortune, or misfortune, of coming within the range of his sharp tongue, even in the seeming context of an innocent encounter, would bear the scars of that contact for years to come. “With a paper like this, [delivering it] under the table, would not be inappropriate.”This volume is then one of the first to shed light on an entirely enigmatic figure by approaching both the man and his work from very divergent and original perspectives. Whether it succeeds is up to the whims of the reader. Or as George Stigler was wont to say, “Let the chips fall where they may.”

John Harvey's accessible book provides a non-technical yet rigorous introduction to various schools of thought in economics. Premised on the idea that economic thinking has been stunted by the almost complete rejection of anything outside the mainstream, the author hopes that this volume will open readers'minds and lead them in new and productive directions. In his exploration of Neoclassical, Marxist, Austrian, Post Keynesian, Institutionalist, New Institutionalist and Feminist schools of thought, unique features of each approach are highlighted, complemented by discussions of methodology, world views, popular themes, and current activities. Accurate and impartial, every chapter covering a heterodox school of thought has been vetted by an acknowledged expert in that field. Though written for use in undergraduate courses, this guide will no doubt offer a great deal to any scholar wishing to gain a fresh perspective and greater understanding of the variety and breadth of current economic thinking.

This textbook takes a new approach to political economy: it combines the well-known non-quantitative theories with the findings of behavioral science and other disciplines such as psychology and sociology. The question of how people behave and how such behavior can be guided towards moral welfare for everyone is the focus of this book. The knowledge is first derived scientifically, then the results are presented in summaries and conclusions. Case studies provide a link to practice. By means of exercises and behavioral games, readers can apply and deepen their acquired knowledge.

Climate scientists have determined that we must act now to prevent an irreversible and catastrophic climatic tipping point, beyond which neither our own nor many other species can be assumed likely to survive. On the way to that bleak ending, moreover, extreme socio-economic injustice and associated political breakdown—now well underway in nations already hard-hit by environmental crisis—can be expected to hasten as well. The time has thus come to plan carefully, thoroughly, and on a scale commensurate with the crisis we face. This book, written by one of the key architects of the Green New Deal and prefaced by Representative Alexandria Ocasio-Cortez's former Chief of Staff, indicates how to structure Green New Deal finance in a manner that advances the cross-cutting goals of maximum financial and economic inclusion, maximally democratic decision-making, and an appropriate division of roles both among all levels of government and among public and private sector decision-makers. Integrating into one complete and coherent financial architecture such bold ideas as a'People's Fed,'an interdepartmental National Investment Council, integrated state and regional public banks, a Democratic Digital Dollar and digital Taxpayer Savings and Transaction Accounts made part of the monetary policy transmission belt, and an economy-wide Price Stabilization Fund, this book is critical reading for policymakers and citizens looking for a fresh path forward towards a revived and sustainable, progressive and productive America.

This book showcases written dialogue from Brendan Brown and Philippe Simonnot on the subject of European monetary turmoil past and present and what hope there could be for future reform. Starting with the collapse of the gold standard in 1914, proceeding to the brief gold-dollar standard of the mid inter-war years, on to the collapse of Bretton Woods and the heyday of the Deutsche mark and ultimately discussing the euro, this book looks at a broad range of financial history alongside many new and provoking hypotheses about the devastating monetary turbulence of the successive eras, always with a focus on the US monetary hegemon. A highlight of the dialogue is an exploration of how past and future crises could combine to give birth to sound money in Europe – the launch, in effect, of a new euro. In the questions and answers within these pages, the authors draw on global examples and the challenges for Europe in deciding how to adapt to successive monetary shocks from the US, crafting a book that would be of interest to general finance and economics readers alongside students, researchers, and policymakers.

Joan Robinson was a member of the famous Keynes Circus of young economists at Cambridge in the 1930's. She was a theorist par excellence, making outstanding contributions to the understanding of competition, aggregate demand and capital. At the same time, she developed an interest in underdeveloped economies and alternatives to capitalism that eventually produced a long list of writings on China between the 1950's to the 1970's. These writings were neither theoretical nor empirical, but a series of opinion pieces and reports. Yet it is these writings that arguably cost Joan Robinson the Nobel Memorial Prize in economics. This short book reviews those writings and comments on what has happened since with regard to China's development, Joan Robinson's interpretation and predictions, and how her 1950's lectures in China match up to China's policies since Mao.This book will be of interest to students and scholars interested in how the history of economic thoughtcan inform and progress development economics.

This book provides tips to teachers for moving toward active learning by using simulation and gaming. The book is a rare reference for teachers who wish to initiate active learning by applying many real experiences from world experts in simulation and gaming. This cumulative wisdom comes from cutting-edge trials reported at the 49th International Simulation and Gaming Association's annual conference in Thailand 9–13 July 2018. The importance of changing teachers'one-way lecture approach to that of active learning has been commonly understood for several decades and has been promoted especially in recent years in Asian universities. Simulation and gaming meets the requirements of such teaching programs, especially for active learning, but there are few books or references on how to gamify a lecture. This book serves as a guide to facilitate that change. The author recognizes the duty to provide readers with fixed directions toward simulation and gaming in the next generation, whichhave still not been fully elucidated. Developing a simulation and gaming culture and making it sustainable in the next decade are the purpose of this book.

Since the Global Financial Crisis, economics has been under greater public scrutiny, revealing a crisis in the discipline. This represented a potential turning point on how economics should be thought and taught. Heterodox economics has played a prominent role in these discussions revolving around new economics thinking and pluralism in economics. Yet, its identity, aspirations, and pedagogy remain underexplored, contested, and somewhat opaque.This volume brings together sixteen interviews with leading economists to understand what heterodox economics is. How and why does an economist become heterodox? In which way do heterodox economists see themselves as ‘different'from mainstream economics? The interviews shed light on what problems heterodox economists perceive in the mainstream; elucidate the different contexts under which they operate in higher education; and provide insights on their ontology and methodology. The reader will also find answers to the following questions about the nature and state of heterodox economics: Do heterodox economists have particular intellectual journeys, motives and aspirations? Is this reflected in their teaching practices and strategies to achieve social change? What is the relation between heterodox economics and the humanities and arts?Appealing to a diverse audience, including philosophers, sociologists and historians of economic thought, the book will be of great interest to anyone keen to find out more about the internal discussions in the economics discipline.

This title was first published in 1990. The high theme of these writings is that we live in an economy of concentrated economic power. Textbook theory fails to explain this economy; it deals with bygone days. Galbraith's job is to push, drag, cajole and finesse economics into the latter half of the twentieth century. An important part of that job is to convince the public that the commonly accepted goals of economic growth and full employment variously defined by Republicans and Democrats are obsolete.

This textbook offers a comprehensive guide to the systematic structure of capitalism, while at the same time introducing readers to all three volumes of Marx's Capital. Based on his extensive expertise on Marx's critique of political economy, the author reveals the specific structure of production in capitalist societies and explicates what sets this system apart from other modes of production. Marx's political economy is explained in a systematic and easy-to-understand manner, using numerous illustrative diagrams to complement the text. This textbook will appeal to all students and scholars looking for a more comprehensive, systematic and theoretical explanation of capitalism, equipping them with a solid theoretical understanding of its core structure.

This book provides an introduction to the theory of support-bargaining and money-bargaining. Support-bargaining arises from the propensity of all individuals to seek the support of those around them and is the underlying mechanism of democratic societies. It is also the underlying mechanism of theory formation. Intellectual support-bargaining is the process by which support is assembled for ideas and theories.Mainstream economic theory, or ‘neoclassical theory', can be seen as formulated to advance individual interest. It is mainstream because it has assembled sufficient support to give it ascendancy in academia. It reconciles private and public interest in a mathematical account of resource allocation. Money-bargaining, in contrast, explains the process of economic exchange. Transactions are based on information, so that the character of information itself influences the conduct of exchange.This volume provides a radically new explanation of the functioning ofhuman societies that will be recognised as entirely consistent with common observation and experience.

This two-volume book addresses the economic transformation occurring in China at present. The author investigates China's domestic and international policies, the impact of these policies on economic growth, and their effect on the quality of life for the people of China. In the first volume, the author distinguishes between economic growth and sustainable economic development, and discusses China's current and past economic policies towards growth. Chapters also explore the structural transformation of China's economy and its increasingly consumer-oriented nature. The second volume looks more specifically at the result of domestic policies on the quality of life for people living in China. The author examines the distribution of income, the alleviation of poverty, the Chinese education system, and the environmental cost of economic growth. These volumes will be of particular interest to researchers and scholars concerned with China's emerging economic power.

This two-volume book addresses the economic transformation occurring in China at present. The author investigates China's domestic and international policies, the impact of these policies on economic growth, and their effect on the quality of life for the people of China. In the first volume, the author distinguishes between economic growth and sustainable economic development, and discusses China's current and past economic policies towards growth. Chapters also explore the structural transformation of China's economy and its increasingly consumer-oriented nature. The second volume looks more specifically at the result of domestic policies on the quality of life for people living in China. The author examines the distribution of income, the alleviation of poverty, the Chinese education system, and the environmental cost of economic growth. These volumes will be of particular interest to researchers and scholars concerned with China's emerging economic power.

This book discusses the relationship between pluralist economics and the case study method of teaching, advocating the complimentary use of both to advance economics education. Using a multi-paradigmatic philosophical frame of analysis, the book discusses the philosophical, methodological, and practical aspects of the case study method while drawing comparisons with those of the more commonly used lecture method. The book also discusses pluralist economics through the exposition of the philosophical foundations of the extant economics schools of thought, which is the focal point of the attention and admiration of pluralist economics. More specifically, the book discusses the major extant schools of thought in economics – Neo-Classical Economics, New Institutional Economics, Behavioral Economics, Austrian Economics, Post-Keynesian Economics, Institutional Economics, Radical Economics, and Marxist Economics—and emphasizes that these schools of thought in economics are equally scientificand informative, that they look at economic phenomena from their certain paradigmatic viewpoint, and that, together, they provide a more balanced understanding of the economic phenomenon under consideration. Emphasizing paradigmatic diversity as the cornerstone of both the case method and pluralist economics, the book draws the two together and makes an effective case for their combined use. A rigorous, multi-faceted analysis of the philosophy, methodology, and practice of economics education, this book is important for academicians and students interested in heterodox economics, philosophy, and education.