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on Heterodox Microeconomics |
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Issue of 2014‒11‒01
nine papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Georgios Argitis (University of Athens); Trevor Evans (Berlin School of Economics and Law); Jo Michell (University of the West of England); Jan Toporowski (School of Oriental and African Studies, London University) |
| Abstract: | Most mainstream neoclassical economists completely failed to anticipate the crisis which broke in 2007 and 2008. There is however a long tradition of economic analysis which emphasises how growth in a capitalist economy leads to an accumulation of tensions and results in periodic crises. This paper first reviews the work of Karl Marx who was one of the first writers to incorporate an analysis of periodic crisis in his analysis of capitalist accumulation. The paper then considers the approach of various subsequent Marxian writers, most of whom locate periodic cyclical crises within the framework of longer-term phases of capitalist development, the most recent of which is generally seen as having begun in the 1980s. The paper also looks at the analyses of Thorstein Veblen and Wesley Claire Mitchell, two US institutionalist economists who stressed the role of finance and its contribution to generating periodic crises, and the Italian Circuitist writers who stress the problematic challenge of ensuring that bank advances to productive enterprises can successfully be repaid. |
| Keywords: | Capitalism, finance, crisis |
| JEL: | B14 B15 B24 B25 E11 E32 |
| URL: | http://d.repec.org/n?u=RePEc:fes:wpaper:wpaper39&r=hme |
| By: | Cormac Ó Gráda (University College Dublin) |
| Abstract: | This paper reviews debates about the role of science and technology before and during the British Industrial Revolution. |
| Keywords: | economic history, science, human capital |
| JEL: | N13 O10 O30 |
| Date: | 2014–10–07 |
| URL: | http://d.repec.org/n?u=RePEc:ucn:wpaper:201414&r=hme |
| By: | Sophie BOUTILLIER (Lab.RII, ULCO/Clersé-UMR8019, Université Lille Nord de France, RRI); Dimitri UZUNIDIS (Lab.RII, ULCO/Clersé-UMR8019, Université Lille Nord de France, RRI) |
| Abstract: | On ne naît pas entrepreneur, on le devient! La socialisation de l’individu est issue des rapports entre les deux catégories fondamentales de l’organisation sociale: les structures sociales et la famille. La personnalité se forme dans la prime enfance. L’acquis de l’individu conditionne sa place dans la société. Nicolaï a mis face à face et aussi a imbriqué les théories structuralistes des économistes avec la psychologie freudienne... Notre objectif est de reprendre, à partir de certaines théories de l’entrepreneur, sa conception de la socialisation pour présenter le comportement de l’entrepreneur. Ce déviant du système économique contribue à sa transformation et peut, toute chose égale par ailleurs, à sa durabilité. The socialization of the individual ensues from the relationship between the two basic categories of social organization: social structures and family. Personality is formed in early childhood. The achievement of the individual determines his place in society. A. Nicolai brought face to face and also nested structuralist theories of economists with Freudian psychology ... Using certain theories of the entrepreneur, our goal is to resume his conception of socialization in order to present the behavior of the entrepreneur. The entrepreneur is the deviant of the economic system who contributes to its transformation and, may all things being equal, to its sustainability.. |
| Keywords: | entrepreneur, système économique, structures sociales |
| JEL: | L26 A13 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:rii:riidoc:282&r=hme |
| By: | Ron Boschma |
| Abstract: | Klepper’s theory of industry clustering based on organizational reproduction and inheritance through spinoffs challenged the Marshallian view on industry clustering. The paper provides an assessment of Klepper’s theoretical and empirical work on industry clustering. We explore how ‘new’ his spinoff theory on industry clustering was, and we investigate the impact of Klepper’s theory on the economic geography community. Klepper’s work has inspired especially very recent literature on regional branching that argues that new industries grow out of and recombine capabilities from local related industries. Finally, the paper discusses what questions on industry location are still left open or in need of more evidence in the context of Klepper’s theory. |
| Keywords: | Klepper, spinoff dynamics, agglomeration economies, Marshall, industry clustering, evolutionary economic geography |
| JEL: | B15 B52 O18 R11 |
| Date: | 2014–09 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1418&r=hme |
| By: | Zhen Zhu (IMT Lucca Institute for Advanced Studies); Michelangelo Puliga (IMT Lucca Institute for Advanced Studies); Federica Cerina (Department of Physics, University of Cagliari); Alessandro Chessa (IMT Lucca Institute for Advanced Studies); Massimo Riccaboni (IMT Lucca Institute for Advanced Studies) |
| Abstract: | The fragmentation of production across countries has become an important feature of the globalization in recent decades and is often conceptualized by the term, global value chains (GVCs). When empirically investigating the GVCs, previous studies are mainly interested in knowing how global the GVCs are rather than how the GVCs look like. From a complex networks perspective, we use the World Input-Output Database (WIOD) to study the global production system. We find that the industry-level GVCs are indeed not chain-like but are better characterized by the tree topology. Hence, we compute the global value trees (GVTs) for all the industries available in the WIOD. Moreover, we compute an industry importance measure based on the GVTs and compare it with other network centrality measures. Finally, we discuss some future applications of the GVTs. |
| Keywords: | Complex Networks; Tree; Input-Output; Value-Added; Globalization |
| JEL: | C67 F10 F15 |
| Date: | 2014–10 |
| URL: | http://d.repec.org/n?u=RePEc:ial:wpaper:11/2014&r=hme |
| By: | Yolande Francois (Centre de Recherche Magellan - Institut d'Administration des Entreprises (IAE) - Lyon - Université Jean Moulin - Lyon III : EA3713, ISEOR - Institut de Socio-économie des Entreprises et des ORganisations - Institut de socio-économie des entreprises et des organisations) |
| Abstract: | Cet article propose de s'interroger sur le pouvoir mais plus précisément sur le pouvoir comme problème. Car avant de s'interroger sur le contenu du pouvoir, nous devons nous interroger sur le fait de l'existence du pouvoir, sur ce besoin chez l'homme de ce comportement. Est-ce un refuge, un moyen de faire face à son existence même ? Dans un système idéal de gouvernance, cette variable doit exister. Mais pourquoi ? A la manière de Nietzche, pourrions - nous nous le demander ? Pourquoi, selon Hegel, l'homme est- il un puissant ? |
| Keywords: | pouvoir, organisation, pouvoir des maîtres, pouvoir des esclaves |
| Date: | 2014–07–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01072537&r=hme |
| By: | Elvis Oltean; Fedor Kusmartsev |
| Abstract: | We applied Dirac distribution, Bose-Einstein distribution, and occasionally Boltzmann-Gibbs distribution in order to determine which is optimal for income distribution on a large pool of countries. The best fit to the data was observed in the case of Fermi-Dirac distribution, for which the coefficient of determination showed the best goodness of fit to the data. Using this distribution for data (spun throughout more years), we obtained the underlying critical parameters of annual income distribution such as chemical potential and temperature. The next step was to explore the evolution of income using economic analogues to chemical potential and temperature. Using as background the analogy made by Yakovenko between temperature from thermodynamic systems and nominal income from Economics, we found other analogies that would allow further analysis and explanation of income. |
| Date: | 2014–10 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1410.3128&r=hme |
| By: | María José Roa (Centro de Estudios Monetarios Latinoamericanos) |
| Abstract: | Para profundizar en el estudio de la relación entre la inclusión y la estabilidad financieras, en primer lugar, se realiza una revisión de los trabajos sobre los posibles y diversos vínculos entre la estabilidad y la inclusión financieras. En segundo lugar, se exponen los resultados de los trabajos revisados desde un enfoque que considera la naturaleza multidimensional de la inclusión financiera y sus distintas etapas. De nuestra discusión se concluye que los riesgos de la inclusión financiera sobre la estabilidad financiera se presentan en las primeras etapas de la inclusión y el desarrollo financieros, en concreto con la falta de acceso y uso de los mercados financieros formales. Los riesgos de la inclusión financiera en sus etapas avanzadas son distintos y menores a los que se presentan en un sistema financiero desarrollado. Por tanto, es necesario precisar el tipo de intervención estatal o regulación necesaria para el caso particular de la inclusión financiera, y no aplicar de manera automática las medidas de regulación o supervisión derivadas de la crisis financiera reciente. |
| Keywords: | inclusión financiera, estabilidad financiera, desarrollo financiero. |
| JEL: | G2 G14 O16 |
| Date: | 2014–04 |
| URL: | http://d.repec.org/n?u=RePEc:cml:docinv:15&r=hme |
| By: | Nicolas Piluso (CERTOP - Centre d'Etude et de Recherche Travail Organisation Pouvoir - CNRS : UMR5044 - Université Toulouse le Mirail - Toulouse II - Université Paul Sabatier (UPS) - Toulouse III) |
| Abstract: | L'article tente de réévaluer la portée de la critique de Carlo Benetti au sujet de la théorie de la monnaie marxienne. Si effectivement il n'est pas possible de déduire logiquement la théorie de la monnaie de la théorie de la marchandise chez Marx, nous proposons de postuler la monnaie à l'intérieur même de la théorie de la valeur. Ce type de postulat serait fondamentalement différent du postulat keynésien de la monnaie qui conduit à rejeter la théorie de la valeur et de la répartition. Cette proposition de " postulat marxien de la monnaie " présente l'avantage de conserver les enseignements qu'apporte l'analyse marxienne de l'économie monétaire. |
| Keywords: | marchandise, monnaie, valeur, Etat, crise économique |
| Date: | 2014–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01070165&r=hme |