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on Heterodox Microeconomics |
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Issue of 2016‒07‒02
fourteen papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Rogério Arthmar (Department of Economics, Universidade Federal do Espírito Santo); Michael McLure (Business School, University of Western Australia) |
| Abstract: | This paper reconstructs the awarding of the 1961 Söderström Gold Medal to Piero Sraffa by The Royal Swedish Academy of Sciences. It explains why the prize was created and highlights Gunnar Myrdal’s nomination of Sraffa for the award overseen by the Academy. Primary historical documents are used to establish the amicable relationship between these two economists and to point out their differences and affinities on issues relating to the history of economic thought, particularly in connection with Ricardo’s economics. In addition, Sraffa's activities in Stockholm are detailed, including his contact with Swedish economists and his attendance at the award ceremony. Contemporary reactions in Sweden and Italy to the awarding of this prize to Sraffa are reviewed. The final remarks offer some reflection on the significance of the 1961 Söderström Gold Medal for the history of economics as a field of study. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:uwa:wpaper:16.18&r=hme |
| By: | Ben Fine (Department of Economics, SOAS, University of London, UK) |
| Abstract: | The evolution to dominance of neoclassical economics is reviewed in light of Marcuseís One-Dimensional Man in the wake of the fiftieth anniversary of the classicís first publication. |
| Keywords: | Economics Imperialism, Neoclassical economics, Marcuse |
| JEL: | B13 B50 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:soa:wpaper:197&r=hme |
| By: | Martin Kniepert (Institute for Sustainable Economic Development, University of Natural Resources and Life Sciences Vienna) |
| Abstract: | Over the last few years, demands from student organisations for pluralism in teaching economics gave quite a stir to neoclassical economics; at least in the media, and at some selected universities. On the other hand, university teachers show considerable inertia. Sometimes they are pointing out that economic theory was not as streamlined as asserted. But mostly they insist on mainstream teaching as a basic prerequisite, possibly to be complemented later by some elective courses. While a dispute about the adequacy of this will certainly continue, it has to be stated that the typical syllabus for economics as a minor subject leaves the respective students with a very narrow notion of economics. This paper elaborates on this aspect. It outlines specific restrictions and requirements an economics-minor syllabus has to comply with in order to have a realistic chance for a wider dissemination at universities. Taking account of this, it is shown that pluralist intentions are covered to a considerable extent by the broader perspective of (new) institutional economics as developed by North, Williamson, Ostrom, and others. At the same time it allows for a coherent and commonly shared body of economic knowledge. To circumstantiate this, this paper resorts to important steps in the history of economic thinking, to its epistemological foundations, as well as to rather practical needs of mutual recognition of exams. |
| Keywords: | : Institutional Economics, economics-minor syllabus |
| JEL: | A2 B0 B5 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:sed:wpaper:632016&r=hme |
| By: | Dorian Jullien (University of Nice Sophia Antipolis; GREDEG CNRS) |
| Abstract: | This paper scrutinizes behavioral economics' challenges to the standard accounts of economic behaviors within and across three dimensions: under uncertainty, over time and regarding other people. ‘Within' dimensions means that decision problems are of the form, e.g., ‘a consequence for sure vs. a bigger consequence with uncertainty' or ‘a consequence now vs. a bigger consequence later', by contrast with decision problems that cut ‘across' dimensions as in, e.g., ‘a consequence for sure but later vs. another consequence now but with uncertainty'. The proposed distinction between challenges within and across dimensions is more than conceptual, it also delimits a historical rupture between two periods that are nontrivial regarding the debates between behavioral and standard economics. The classical challenges posed by Kahneman, Tversky, Thaler and others focused on interactions within dimensions, posing problems to standard models. The more recent challenges from interactions across dimensions are posing problems to to both standard and behavioral economists' models. This paper proposes a systematic contrasts between the three dimensions, in both the challenges within and across the three dimensions, i.e., it proposes to ‘see rationality in 3D', in order to further our understanding of the contemporary theoretical, empirical and methodological stakes underlying these debates. Three methodological issues are discussed throughout: one that is not discussed elsewhere in the reflexive literature, namely the role of language in economic rationality, which we try to connect with the two classical ones around behavioral economics, namely, the issue of interdisciplinary between economics and psychology and the positive/normative issue within models of individual behaviors. With respect to the latter, we suggest that there is a slow historical shift from a primacy of risk over time over social preferences in the making of economists' value judgments of rationality and irrationality, to a competing primacy of time over risk over social preferences. |
| Keywords: | behavioral economics, economic rationality, expected utility, prospect theory, exponential discounting, hyperbolic discounting, self-interest, other-regarding behaviors, economic methodology, history of economics |
| JEL: | A12 B21 B41 D01 D03 D81 D90 D64 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2016-20&r=hme |
| By: | Markussen, Simen (Ragnar Frisch Centre for Economic Research); Røed, Knut (Ragnar Frisch Centre for Economic Research) |
| Abstract: | In virtually all industrialized countries, women are underrepresented in entrepreneurship, and the gender gap exhibits a remarkable persistence. We examine one particular source of persistence, namely the prevalence of gendered networks and associated peer effects. We study how early career entrepreneurship is affected by existing entrepreneurship among neighbors, family members, and recent schoolmates. Based on an instrumental variables strategy, we identify strong peer effects. While men are more influenced by other men, women are more influenced by other women. We estimate that differences between male and female peer groups explain approximately half of the gender gap in early career entrepreneurship. |
| Keywords: | early career entrepreneurship, peer effects, gender gap, instrumental variables |
| JEL: | L26 M13 J16 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp9984&r=hme |
| By: | Giovanni Dosi; Valerie Revest; Alessandro Sapio |
| Abstract: | The evolutionary taxonomy of financial systems, outlined by Dosi (1990), argued that market-based systems would be comparatively more engaged in the exploration of new technological paradigms, as an outcome of market selective pressure, whereas the more institutionalized finance allocation in credit-based systems would give them an advantage in cumulative learning. This article offers a preliminary assessment of those conjectures in light of the institutional change associated with the financialization process and the "maximizing shareholders value" principle. The available evidence suggests that financialization has de-linked the performance of firms on the financial markets from the determinants of firm-level growth and innovation. Selection among companies increasingly occurs on financial markets, along criteria of short-term returns. As such, financialization has contributed to compress and somewhat degrade the specific properties of the finance-innovation nexus of both financial system archetypes, deteriorating both static and Schumpeterian efficiency. |
| Keywords: | Evolutionary Theory, Financial Systems, Firm growth, Innovation, Financialization |
| Date: | 2016–06–15 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2016/25&r=hme |
| By: | Jaelani, Aan |
| Abstract: | The relation between religion, economy and the country became a major topic in the development of public welfare systems. Humans are political creatures that have the potential to realise the level of moral conscience to meet the needs of a better life, but humans as spiritual beings must have a balance between religious morality and economic morality. With economic ethics are supported by religious morality, the welfare system can be realised systemically if the state, communities and individuals can realise the six-dimensional form: religious observance, good governance, justice, national security, the prosperity of society and the nation's vision. |
| Keywords: | religion, economy, state, ethics, welfare state |
| JEL: | B3 I3 N3 P5 Z12 |
| Date: | 2016–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:72090&r=hme |
| By: | Henry Wüstemann; Dennis Kalisch; |
| Abstract: | Action 5 of the EU 2020 Biodiversity Strategy explicitly mentions that member states will map and assess the state of ecosystems and their services in their national territory by 2014 with the assistance of the Commission. Access to urban green is a key contributor to social and ecological functions in urban environments. However, in Germany - like in many other European countries - a national indicator measuring the provision of urban green on household and individual level is missing. This study develops a national indicator for urban green space provision and environmental inequalities in Germany on household and individual level. We investigate the provision of urban green by merging geo-coded household data from the German Socio- Economic Panel (GSOEP) and census population data with geo-coded data on land use from the European Urban Atlas (EUA) for German major cities with more than 100.000 inhabitants. Based on open green space standards applied in European urban city planning we de ne two variables measuring access to green: First, we estimate the distance to urban green measured as the Euclidean distance between the household and the nearest green-site in meters. Secondly, we calculate the coverage of urban green space around the households in square meters. Results of the distance analysis based on GSOEP data show a mean and median distance to public green space of 229:1m and 190:5m, respectively. The results further indicate that 93% of the German households have access to green space within a 500m and 74.1% within a 300m bu er around their location. The average green space provision in German major cities adds up to 8:1m2 per capita (median). Moreover, statistical analysis of the socio-economic background of the households shows di erences in urban green provision related to income, education, employment status, migration background and nationality. We also identify di erences in green space provision on the city level ranging from 10:6ha (city of Frankfurt/Oder) to 1:2ha (city of Schwerin) green space within 500m around the household. Distances to the nearest urban green also vary between cities ranging from 99m (city of Frankfurt/Oder) to 349m (city of Schwerin). The coverage of green space per capita ranges from 36m2 (city of Bergisch Gladbach) to 2:5m2 (city of Schwerin). We also provide a ranking of German major cities based on the green space provision on city level. The analysis further shows an unequal distribution of green within cities. The ndings provide helpful information for policy and planning to ensure an adequate green space provision and to eliminate related environmental inequalities in Germany. |
| Keywords: | Urban Green, Indicator, Household and individual level, Geocoded data, Environmental inequities |
| JEL: | Q56 Q58 R14 R20 R52 |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:hum:wpaper:sfb649dp2016-022&r=hme |
| By: | Cristiano Codagnone (European Commission – JRC - IPTS); Fabienne Abadie (European Commission – JRC - IPTS); Federico Biagi (European Commission – JRC - IPTS) |
| Abstract: | This critical and scoping review essay analyses digital labour markets where labour-intensive services are traded by matching requesters (employers and/or consumers) and providers (workers). It focuses on digital labour markets which allow the remote delivery of electronically transmittable services (i.e. Amazon Mechanical Turk, Upwork, Freelancers, etc.) and those where the matching and administration processes are digital but the delivery of the services is physical and requires direct interaction. The former broad type is called Online Labour Markets (OLMs) and is potentially global. The latter broad type is termed Mobile Labour Markets (MLMs) and is by definition localised. The essay defines and conceptualises these markets proposing a typology which proves to be empirically valid and heuristically useful. It describes their functioning and the socio-demographic profiles of the participants, reviews their economic and social effects, discusses the possible policy implications, and concludes with a research agenda to support European level policy making. It alternates the discussion of ‘hard’ findings from experimental and quasi-experimental studies with analysis of ‘softer’ issues such as rhetorical discourses and media ‘hyped’ accounts. This triangulation is inspired by, and a tribute to, the enduring legacy of the work of Albert O. Hirschman and his view that ideas and rhetoric can become endogenous engines of social change, reforms, and policies. This essay tries to disentangle the rhetoric with available empirical evidence in order to enable a more rational debate at least in the discussion of policies, if not in the public arena. To do so, an in depth analysis of 39 platforms was undertaken together with a formal review of 70 scientific sources. These two main sources have been integrated with: a) an exploration of 100 media accounts (business press, newspapers, magazines, and blogs); b) 50 reports and surveys produced by ‘interested parties’ (industrial associations, platforms own reports and public relation materials, think tanks with a clear political orientation, NGOs, trade unions, etc.); and c) about 200 indirectly relevant scientific contributions and policy reports (used as sources to contextualise and integrate the above sources, and to derive theoretical and interpretative insights). While the evidence is limited and inconclusive with respect to various dimensions, the findings of this essay show, among other things, that: a) individuals engage in these activities primarily for money, for a large segment of them this work is their primary source of income, and most are under-employed and self-employed and fewer are unemployed and inactive; b) matching frictions and hiring inefficiencies are widespread and even the OLMs are far from being globalised online meritocracies; c) a behavioural approach to big data exploration should be further applied because there is emerging evidence of heuristic and biases contributing to hiring inefficiencies. |
| Keywords: | sharing, collaborative, economy, platform, online platform, micro work, crowd work, future of work |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc101280&r=hme |
| By: | Stanley Simon Malinowitz |
| Abstract: | Se analiza la evolución y el papel del sector financiero en la economía estadounidense en la fase del neoliberalismo y la financiarización y en la crisis de esta fase que inició en 2007, con énfasis en las raíces de la inestabilidad y la fragilidad económicas provenientes del sector financiero a partir de las sucesivas desregulaciones y el surgimiento de nuevas instituciones, instrumentos y prácticas en el sector, y las políticas aplicadas como respuestas a la crisis. Las políticas y la reforma financiera de la administración de Obama no han producido cambios estructurales, refuerzan las estructuras y las prácticas que causaron la crisis y exacerban el estancamiento de la economía real, la fragilidad financiera y la desigualdad. |
| Keywords: | finanzas, crisis, reforma financiera, Estados Unidos, Obama |
| JEL: | E44 G01 G28 N22 P16 |
| Date: | 2015–12–30 |
| URL: | http://d.repec.org/n?u=RePEc:col:000418:014615&r=hme |
| By: | Daoud, Adel; Kohl, Sebastian |
| Abstract: | Sociological self-understanding is that the frequency of economic topics in sociology has peaked twice: first during the classical era between 1890 and 1920 and second after Mark Granovetter's most cited 1985 article. This paper tests this established view using all JSTOR sociology articles from 1890 to 2014 (142,040 articles, 157 journals). Combined topic and multilevel modeling found strong evidence for the first peak but the proportion of economics topics has also been decreasing over the past century. The rise of a New Economic Sociology as a subdiscipline of sociology came with the increasing focus on general economic issues but also with a topic mix of organization and social-theory research. The paper shows that this specific topic mix began to increase from 1929 peaking by 1989 and suggests that the New Economic Sociology, rather than marking the beginning of a second peak, is more a product of the other general currents of organization sociology and social theory. The paper also finds that this subdiscipline is internally diverse in topics and rather male dominated. |
| Abstract: | Im soziologischen Selbstverständnis gab es zwei Hochphasen in der Häufigkeit der Behandlung von ökonomischen Themen im Rahmen soziologischer Forschung: zunächst in der Zeit der Klassiker zwischen 1890 und 1920 und dann wieder nach Mark Granovetters vielfach zitiertem Artikel von 1985. Das Discussion Paper prüft diese Behauptung unter Verwendung aller bei JSTOR verfügbaren Volltextsoziologieartikel (142.040 Artikel, 157 Zeitschriften). Mithilfe von Topic- und Multilevelmodeling konnten deutliche Belege für die erste Hochphase erbracht werden, wobei der Anteil ökonomischer Themen im Verlauf des vergangenen Jahrhunderts gesunken ist. Das Entstehen der Neuen Wirtschaftssoziologie als Teildisziplin der Soziologie steht sowohl in Zusammenhang mit dem verstärkten Augenmerk auf allgemeine ökonomische Themen als auch mit der Vermischung von Organisationsforschung und Sozialtheorie. Das Paper zeichnet Aufkommen und Verbreitung dieser spezifischen Themenvermischung von 1929 bis zur Hochphase im Jahr 1989 nach und kommt zu dem Ergebnis, dass die Neue Wirtschaftssoziologie eher aus allgemeinen Strömungen von Organisationssoziologie und Sozialtheorie entstanden ist, als dass sie ein Zeichen für den Beginn einer zweiten Hochphase darstellt. Darüber hinaus wird aufgezeigt, dass die Wirtschaftssoziologie intern themenheterogen ist und tendenziell von männlichen Autoren bearbeitet wird. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:mpifgd:167&r=hme |
| By: | Kenta Tanaka (Faculty of Economics, Musashi University); Keisaku Higashida (School of Economics, Kwansei Gakuin University); Arvin Vista (Department of Agricultural Economics, University of the Philippines Los Baños); Anton Setyo Nugroho (Ministry of Maritime Affairs, Republic of Indonesia); Budi Muhamad Ruslan (Ministry of Marine Affairs and Fisheries, Republic of Indonesia) |
| Abstract: | This paper examines the effect of fishery resource depletion experiences on the social cooperative preferences of fishermen. We adopt (i) the value orientation test to measure cooperativeness and (ii) experiences that are subjectively perceived. Additionally, we focus on the perceived causes of resource depletion experienced by fishermen. Similar to previous studies, we find clear correlations between experiences and preferences. Moreover, we find that the impact of resource depletion experiences depends on whether fishermen perceive artificial factors or changes in the natural environment to be its causes. Particularly, resource depletion experiences caused by artificial factors are likely to make fishermen more cooperative, while those caused by changes in the natural environment are likely to make fishermen less cooperative. |
| Keywords: | Cooperativeness, Experiences, Fishery resource depletion, Value orientation test |
| JEL: | C93 Q22 Q56 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:kgu:wpaper:143&r=hme |
| By: | Batthyány, Karina |
| Abstract: | El presente estudio pretende contribuir al debate sobre políticas de cuidados enfocando la mirada en las ciudades latinoamericanas, en esta ocasión específicamente en Montevideo. A partir del diagnóstico cuantitativo de la situación socioeconómica de las y los habitantes de Montevideo, y del análisis de las competencias de la administración local en términos de oferta de servicios de cuidado para niños y niñas, personas adultas mayores y personas con alguna discapacidad, se proporcionan recomendaciones para la planificación, la formulación e implementación de políticas urbanas a corto y mediano plazo. |
| Keywords: | BIENESTAR SOCIAL, POLITICA SOCIAL, MUJERES, INGRESOS, EMPLEO DE LA MUJER, CUIDADORES, ZONAS URBANAS, DESARROLLO URBANO, INCORPORACION DE LA PERSPECTIVA DE GENERO, SOCIAL WELFARE, SOCIAL POLICY, WOMEN, INCOME, WOMEN'S EMPLOYMENT, CAREGIVERS, URBAN AREAS, URBAN DEVELOPMENT, GENDER MAINSTREAMING |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col040:40184&r=hme |
| By: | Carlos Alberto Duque García |
| Abstract: | En el presente artículo se estudian las actividades de cuidado no remunerado realizadas en los hogares Colombianos. Los datos empleados fueron obtenidos de la primera Encuesta Nacional de Uso del Tiempo (ENUT) realizada en Colombia -por el Departamento Administrativo Nacional de Estadísticas (DANE)- durante el segundo trimestre de 2012 y el primer trimestre de 2013. El artículo tiene tres partes: en la primera se aborda teóricamente el concepto de cuidado doméstico realizado en los hogares, en la segunda se analiza la naturaleza de los servicios de cuidado realizadas en los hogares colombianos, se estima su magnitud y se exploran algunos de sus determinantes socioeconómicos. Por último, en la tercera sección se presentan las conclusiones principales. |
| Keywords: | Economía del Cuidado; Economía Feminista; Asignación del Tiempo; Trabajo no remunerado; Trabajo doméstico |
| JEL: | B54 D13 O15 |
| Date: | 2015–12–30 |
| URL: | http://d.repec.org/n?u=RePEc:col:000418:014629&r=hme |