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on Heterodox Microeconomics |
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Issue of 2020‒09‒14
nineteen papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Papagiannaki, Eleni; Philp, Bruce; Arntsen, Alexandra |
| Abstract: | Against the backdrop of socio-economic conflict, this paper analyses a number of approaches to classes in the economics, political economy and sociology literatures. Our argument is structured into two themes which consider: (i) class and individualism; (ii) social and economic classes. We also consider deductive and inductive class analyses within these themes. This typology is used to classify the methodological approaches of scholars from a variety of traditions, thereby providing a basis for assessing their congruence, and the plausibility of developing an integrated perspective on class, spanning heterodox economics and sociology. Initial discussion considers classical political economy and its Marxian derivatives, including Lenin’s criteria for categorising classes, and relatively recent approaches derived from economics, political economy (in the Marxian tradition), and sociology. Based on our analysis of the two themes identified we argue that the abstract pairs of categories — class-individual, social-economic — should not be falsely dichotomised. In addition, we argue that a reductionist approach to class (be it economic or micro-reductionism) only provides a partial account, and fails to capture the complexity of class in relation to other forms of social stratification. |
| Date: | 2020–02–03 |
| URL: | http://d.repec.org/n?u=RePEc:akf:cafewp:2&r=all |
| By: | Ricardo Summa; Julia Braga |
| Abstract: | Blanchard recently stated that the old Phillips curve - a relation between the level of inflation and the level of the unemployment rate - is alive and well. In this paper we will argue that there are two routes to this old Phillips curve. We will compare and contrast them. The mainstream route assumes demand-pull inflation and full incorporation of inflation expectations into money wage increases, leading to an accelerationist behavior of inflation. Followers of this approach propose amendments to avoid this accelerationist relation between demand shocks and inflation without discarding the two crucial assumptions, based on introducing imperfections and anchored expectations. After a critical evaluation of these amendments in the accelerationist curve, we will argue in favor of an alternative route to the old Phillips curve that rejects any neoclassical assumptions. This alternative approach assumes that there is no labour scarcity and that inflation depends on conflicting claims over income. Therefore, expectations are not necessarily always fully passed on to nominal wages. Our general conflict-augmented Phillips curve is different from the conflicting-claims Heterodox NAIRU models as it is compatible both with the old Phillips curve but also with accelerating inflation, depending on the bargaining power of the workers. |
| Keywords: | Phillips curve, distributive conflict, natural rate of unemployment |
| JEL: | B51 E31 E13 |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:ast:wpaper:0055&r=all |
| By: | Essiane, Patrick-Nelson Daniel |
| Abstract: | The aim of this paper is to briefly review the main debates between the New Institutional Economics (NIE) and the Old Institutional Economics (OIE). While the NIE is considered in the literature as essentially orthodox, the OIE’s thesis are mainly heterodox. From a theoretical perspective, (i) the nature of institutions, (ii) the organization of firms and (iii) the link between institutional change and economic development are central in the debate. From an empirical perspective, the measures of institutional quality and the methods used to capture institutional changes and their impact on development are the key points of divergence between NEI and OIE. However, some authors are quite optimistic about a potential convergence of the two school of thoughts, which could potentially offers new perspectives on the understanding of institutional phenomenons in economics. |
| Keywords: | New Institutional Economics; Old Institutional Economics; Literature Review; Institutions; Institutional Change; Development; Debate |
| JEL: | B15 B25 B52 O43 |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:102858&r=all |
| By: | Ahasan, Rakibul (Texas A&M University); Hoda, Nazmul; Mudasser, Mehedi |
| Abstract: | Similar to the rest of the world, women empowerment in rural Bangladesh is growing as one of the most critical issues need answering very soon. Several attempts have been undertaken by different government organizations, local government institutions, and non-government organizations in recent years to empower the women in various facets- social, economic and political for the least. The objective of this paper was to evaluate the women empowerment status in a rural area in Khulna district, Bangladesh. Physical surveys were conducted among the households in the Chakrakhali village under Jalma Union in Batiaghata Upazilla of Khulna district. The samples were randomly drawn from the families in the area irrespective of economic, social or religious characteristics. All the respondents were adult women- either the household head of women lead household or the housewife of the family. The social, economic, and political empowerment status of the women in the village was evaluated through the study. The findings from the survey indicate the women are empowered mostly in the economic realm, followed by social empowerment. The political empowerment of the women of that village found to be absent in most cases. The survey results also indicated that the household heads hinder the political and social empowerment status of the women in a male-lead household. In these types of families, despite the monetary or other supports form the institutions is delivered to the women, they are not the own making the decisions. It is found that a lot of the choices of the women are influenced by the household head, mainly to borrow money from micro-credit organizations. The understanding between government organizations and women are not in good shape as women are not interested in the functions of these organizations in most of the cases. Mainly the non-government organizations (i.e., CSS, BUREAU Bangladesh, ASA, PROSHIKA, BRAC, Grameen Bank, etc.) work for the villagers, and women are more concerned about the activities of these institutions. However, it was found from the study that women are not being benefitted and mainstreamed through empowerment activities by these institutions. |
| Date: | 2020–08–11 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:7jcvn&r=all |
| By: | Beare, Brendan K; Toda, Alexis Akira |
| Abstract: | The first confirmed case of Coronavirus Disease 2019 (COVID-19) in the US was reported on January 21, 2020. By the end of March, 2020, there were more than 180,000 confirmed cases in the US, distributed across more than 2000 counties. We find that the right tail of this distribution exhibits a power law, with Pareto exponent close to one. We investigate whether a simple model of the growth of COVID-19 cases involving Gibrat's law can explain the emergence of this power law. The model is calibrated to match (i) the growth rates of confirmed cases, and (ii) the varying lengths of time during which COVID-19 had been present within each county. Thus calibrated, the model generates a power law with Pareto exponent nearly exactly equal to the exponent estimated directly from the distribution of confirmed cases across counties at the end of March. |
| Keywords: | COVID-19, Coronavirus, Gibrat’s law, Mathematical modeling of epidemics, Power law, Tauberian theorem, physics.soc-ph, q-bio.PE, Applied Mathematics, Fluids & Plasmas |
| Date: | 2020–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:ucsdec:qt9k5027d0&r=all |
| By: | Daniele Vernon-Bido; Andrew J. Collins |
| Abstract: | Agent-based modeling (ABM) is a powerful paradigm to gain insight into social phenomena. One area that ABM has rarely been applied is coalition formation. Traditionally, coalition formation is modeled using cooperative game theory. In this paper, a heuristic algorithm is developed that can be embedded into an ABM to allow the agents to find coalition. The resultant coalition structures are comparable to those found by cooperative game theory solution approaches, specifically, the core. A heuristic approach is required due to the computational complexity of finding a cooperative game theory solution which limits its application to about only a score of agents. The ABM paradigm provides a platform in which simple rules and interactions between agents can produce a macro-level effect without the large computational requirements. As such, it can be an effective means for approximating cooperative game solutions for large numbers of agents. Our heuristic algorithm combines agent-based modeling and cooperative game theory to help find agent partitions that are members of a games' core solution. The accuracy of our heuristic algorithm can be determined by comparing its outcomes to the actual core solutions. This comparison achieved by developing an experiment that uses a specific example of a cooperative game called the glove game. The glove game is a type of exchange economy game. Finding the traditional cooperative game theory solutions is computationally intensive for large numbers of players because each possible partition must be compared to each possible coalition to determine the core set; hence our experiment only considers games of up to nine players. The results indicate that our heuristic approach achieves a core solution over 90% of the time for the games considered in our experiment. |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2009.00519&r=all |
| By: | Sandström, Maria (Department of Economics) |
| Abstract: | Can an increasing importance of intangible capital in the economy explain increases in markups and profits? I use a heterogeneous firm model to show how intangible capital is related to markups and profits at the industry level. The uncertainty and scalability properties of intangible capital imply that firms that succeed in their intangible capital investment can charge high markups relative to other firms, whereas firms that fail will exit. However, the high markups do not lead to any economic profits in the industry as a whole if they only serve to cover the total fixed costs of intangible capital. To empirically examine the relationship between intangible capital, markups and profits, I study average markups and profit shares in a panel of Swedish industries. There is evidence of a positive relationship between intangible capital and average industry markups. However, the evidence of the relationship between intangible capital and profits is less conclusive. |
| Keywords: | Intangible capital; Markups; Profits; Labor share; Market Power |
| JEL: | D24 E22 L11 |
| Date: | 2020–08–14 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:uunewp:2020_004&r=all |
| By: | Matthias Raddant; Hiroshi Takahashi |
| Abstract: | We investigate the dynamics in the networks of Japanese corporates and its interplay with the appointment of female board members. We find that firms with female board members show homophily with respect to gender and often have above average profitability. We also find that new appointments of women are more likely at boards which observe female board members at other firms to which they are tied by either ownership relations or corporate board interlocks. |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2007.03980&r=all |
| By: | Veronica Polin (Department of Economics (University of Verona)); Michele Bertani (Department of Economics (University of Verona)) |
| Abstract: | This paper aims to explore, using a qualitative approach, the relationship between ‘homelessness’ and ‘city’. The empirical work took place during 2016 in Verona, a middle-size town in Northern Italy and involved 13 participants with different profiles of housing deprivation. Our methodological approach gives ‘voice’ to homeless and involves them as active social actors in the fieldwork and in the data collection. We adopt two different qualitative techniques: participant-driven-photo-elicitation (PDPE) and focus groups. Participants received a mandate to describe, through their images and words, the relationship with Verona city, using a disposable camera and talking, in a group context, about their daily life in the urban context. The data were investigated to determine whether the relationship with the city influence their identity and daily life strategies. Results suggest that the relational, symbolic, emotional and material aspects of the city emerge from the photos and from the words of the participants. The city is represented as a symbol of the need of work, as a special place that could offer peace and serenity, as beauty, as aid received by voluntary organizations, as need for ‘home’ and security about their future, as a place in which to assert their rights as citizens and to make their voices heard in the public social policies implementation. To enhance positive paths of self-help and progressive autonomy, the findings suggest that the primary need is not only ‘having a roof’, but also it is fundamental the access to labour market. This is the path they feel positive to be socially recognized as active citizens. Moreover, our research underlines the importance of place identity concept: it can be used as a framework for understanding homelessness in a wider perspective and for designing effective and innovative public policies. |
| Keywords: | homelessness, identity, city, participant research method, photovoice, poverty, public policy. |
| JEL: | A12 D63 I38 |
| Date: | 2019–08 |
| URL: | http://d.repec.org/n?u=RePEc:ver:wpaper:13/2019&r=all |
| By: | Mohamed Hansali (UH2MC - Université Hassan II [Casablanca]); Abdelwahed Gourch (UH2MC - Université Hassan II [Casablanca]) |
| Abstract: | Supply chain management, a field that has fundamentally changed several principles in our thinking and in managerial practice, is leading to a crisis of definition and theorization in scientific research. This basically comes back not to the theory itself but to the epistemological paradigm in which it is constituted. Often, explicitly or implicitly, the overriding paradigm that forms the basis of research in the discipline is positivism, even though practical in specific contexts is eroded towards the globality of the supply chain phenomenon in theory and in the practice. We thus judge the current state of crisis as positioning in Thomas Kuhn's cycle. Positivism is based on disjunction and simplicity, whereas the field is beginning to connect and link the parties in order to allow for a better functioning of the chain. Many other principles are developing in management that theory has difficulty grasping. We believe, however, that the crisis is not theoretical but rather epistemological. A revision and proposal of solutions are announced along the present reflection. |
| Abstract: | Le supply chain management, un domaine qui a véritablement changé plusieurs principes dans notre réflexion et en pratique managériale mène à une crise de définition et de théorisation en recherche scientifique. Cela revient au fond non pas à la théorie elle-même mais au paradigme épistémologique dans lequel elle se constitue. Souvent, explicitement ou implicitement, le paradigme prépondérant et qui constitue la base des recherches dans la discipline est le positivisme quoique pratique dans des contextes précis s'avère érodé envers la globalité du phénomène supply chain en théorie et dans le terrain. Nous jugeons ainsi l'état actuel de crise comme positionnement dans le cycle de Thomas Kuhn. Le positivisme se base sur la disjonction et la simplicité alors que le terrain se met à relier et mettre les parties en lien en vue de permettre un meilleur fonctionnement de la chaîne. De nombreux autres principes se développent en management que la théorie a du mal à saisir. Nous jugeons cependant, que la crise n'est pas d'ordre théorique mais plutôt épistémologique. Une révision et proposition de solutions s'annoncent le long de la présente réflexion. |
| Keywords: | Supply chain management,epistemological paradigm,positivism,complexity,systemic.,paradigme épistémologique,le positivisme,la complexité,la systémique |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02919351&r=all |
| By: | Tam\'as S. Bir\'o; Zolt\'an N\'eda |
| Abstract: | Entropy is being used in physics, mathematics, informatics and in related areas to describe equilibration, dissipation, maximal probability states and optimal compression of information. The Gini index on the other hand is an established measure for social and economical inequalities in a society. In this paper we explore the mathematical similarities and connections in these two quantities and introduce a new measure that is capable to connect these two at an interesting analogy level. This supports the idea that a generalization of the Gibbs--Boltzmann--Shannon entropy, based on a transformation of the Lorenz curve, can properly serve in quantifying different aspects of complexity in socio- and econo-physics. |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2007.04829&r=all |
| By: | Alessandra Celani de Macedo (UNIDO); Nicola Cantore (UNIDO); Laura Barbier (UNIDO); Marco Matteini (UNIDO); Giorgia Pasqualetto (UNIDO) |
| Abstract: | Inclusive and sustainable industrial development implies environmental friendly industrial growth with positive implications for social targets such as employment generation. One of the most important options available to policymakers for reducing CO2 emissions is industrial energy efficiency, which is particularly relevant for the discussion on green industrialization. Despite this intuitive concept, the economics measurement toolkit still lacks a methodological framework to analyse the extent to which energy efficiency interventions can generate simultaneous economic, environmental and employment-related improvements to boost inclusive and sustainable industrial development. This study fills this gap by introducing an original approach based on input-output tables to estimate the impact of improvements in industrial energy efficiency on value added, employment and energy savings among industries in the Republic of North Macedonia. The results show that triple dividends are possible in terms of inclusive and sustainable industrial development. Whereas a positive impact on employment is found in every scenario, a positive outcome in terms of value added essentially depends on the country’s capacity to produce goods that accommodate firms’ increasing demand from their use of energy cost savings. |
| Keywords: | Economics, Input-output Analysis, Employment Creation, Energy Efficiency |
| JEL: | Q40 Q49 |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2020.01&r=all |
| By: | Bénédicte Corvaisier-Drouard; Jacques Fontanel (CESICE [1977-2015] - Centre d'études sur la sécurité internationale et les coopérations européennes [1977-2015] - UPMF - Université Pierre Mendès France - Grenoble 2 - IEPG [?-2019] - Sciences Po Grenoble - Institut d'études politiques de Grenoble [?-2019]) |
| Abstract: | The pandemic shock highlights the flaws of an economic system that is both enlightened and blinded by an uncontrolled market economy. It underlines at the same time the incapacity of the international markets to self-regulation, which its supporters nevertheless recognize, the permanence of the State conflicts in a globalized world, the degradation of the public services which are essential to the collective life but also the societal inequalities of incomes, inheritances and powers of the citizens, announcing a dominant plutocracy in fact. |
| Abstract: | Le choc pandémique met en évidence les failles d'un système économique à la fois éclairé et aveuglé par une économie de marché sans contrôle. Il souligne à la fois l'incapacité des marchés internationaux à l'autorégulation que ses partisans pourtant lui reconnaissent, la permanence des conflits étatiques dans un monde globalisé, la dégradation des services publics pourtant essentiels à la vie collective mais aussi les inégalités sociétales des revenus, des patrimoines et des pouvoirs des citoyens, annonçant une ploutocratie dominante de fait. |
| Keywords: | Inégalités sociales,Pandémie,services publics,économie de marché,Social inequalities,Covid-19,public services,market economy |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02919417&r=all |
| By: | Frank Lorne (New York Institute of Technology-Vancouver, Canada); Victor Zubashev (QBOT Technologies, Canada) |
| Abstract: | The paper describes a process of meme evolutions in sequential time stages across different disciplines, approaches, and broadly speaking, paradigms. Idea creations between individuals are characterized as codified ideas that can be expanded or simplified according to implicit software used by individuals based on prior knowledge and experience. Neural networks of forms and layers involving input, output, recurrent, memory cells inside of a brain can be similarly conceptualized for communications across individuals for a better understanding of interdisciplinary collaborations. Codified ideas are assumed to be expressed in terms of symbols on the keyboards of computers, which require software to interpret as well as re-expressed to arrive at ideas that can be physically embodied. Different disciplines have different software. Ideas evolved from different software may or may not be physically embodied into something tangible. Tangible physical objects embodying ideas can be scaled or bundled to be branded and marketed. Evolution of memes in terms of codified ideas physically embodied precedes the forming of firms and markets. The emphasis on sequential time stages in the meme evolution in terms of codified ideas can fill a void towards a better understanding of how firms and markets operate. Several types of interdisciplinary collaborations can be identified based on this formulation. |
| Keywords: | communication, group creativity, idea embodiment, economic systems |
| Date: | 2020–06 |
| URL: | http://d.repec.org/n?u=RePEc:smo:spaper:002fl&r=all |
| By: | Haddad, Eduardo (Departamento de Economia, Universidade de São Paulo); Araújo, Inácio (Departamento de Economia, Universidade de São Paulo); Perobelli, Fernando (Departamento de Economia, Universidade Federal de Juiz de Fora) |
| Abstract: | O objetivo desta Nota Técnica é descrever as Matrizes de Insumo-Produto dos Arranjos Populacionais do Brasil, elaboradas pela equipe do Núcleo de Economia Regional e Urbana da USP – NEREUS. O foco da discussão é sobre a estrutura dos dados disponibilizados a partir do processo de construção do sistema inter-regional utilizando o método denominado Interregional Input-Output Adjustment System – IIOAS, baseado em Haddad et al. (2017). A construção e disponibilização dessa base de dados fornece um sistema integrado que permite avaliar as relações econômicas e sociais de forma sistêmica em unidades territoriais com grande processo de urbanização. |
| Keywords: | Matriz de Insumo-Produto; Arranjos Populacionais; Brasil |
| JEL: | C67 D57 R12 R15 |
| Date: | 2020–08–30 |
| URL: | http://d.repec.org/n?u=RePEc:ris:nereus:2020_008&r=all |
| By: | Matoshi, Ruzhdi; Mulaj, Isa |
| Abstract: | Pas gati tri decenieve që nga fillimi i transicionit nga komunizmi për në demokraci dhe ekonomi të hapur të tregut në Evropën Qendrore dhe Lindore (EQL), Konsensusi i Uashingtonit në përgjithësi e merr notën si dështim. Gjersa përvoja nga EQL përveç rezultateve të përbashkëta tregon ndryshime të konsiderueshme, pakoja e reformave është diskutabile edhe në perspektivën afatgjate, sidomos për shkak se prodhon kosto të lartë sociale. Emigrimet masive kohëve të fundit nga Ballkani Perëndimor për shkak të kushteve të dobëta ekonomike dhe nga Lindja e Mesme, e kanë rritur vëmendjen rreth kredibilitetit për eksportimin ose imponimin e demokracisë Amerikane, e së bashku me të, edhe Konsensusin e Uashingtonit si model të transformimit dhe zhvillimit ekonomik. Por a ekziston ndonjë alternativë? Pothuajse ka ekzistuar edhe para se të fillojnë ndryshime sistemore në EQL, dhe ajo mund të jetë më e parapëlqyer edhe tani për vendet të cilat ende kanë për të bërë transformime të konsiderueshme ekonomike. Ajo është Ekonomia Sociale e Tregut, modeli i së cilës ende mund të zbatohet në disa vende që kanë mbetur prapa në transicion. Ky punim shtjellon perspektivën e futjes dhe zbatimit të këtij modeli në vendet e Ballkanit Perëndimor, me theks të posaçëm në rolin e shtetit, tatimeve, shpërndarjes së të ardhurave dhe zvillimit të biznesit. |
| Keywords: | Konsensusi i Uashingtonit, Ekonomia Sociale e Tregut, Ballkani Perëndimor, reformat ekonomike |
| JEL: | F63 N40 O57 P16 P27 P51 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:102256&r=all |
| By: | José María Durán Medraño |
| Keywords: | arte; valor; sustancia del valor; renta diferencial; capital humano; propiedad intelectual. Keywords: art; value; substance of value; differential ground-rent; human capital; intellectual property. |
| JEL: | B51 D46 P16 Z11 |
| Date: | 2019–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:col:000418:018303&r=all |
| By: | Ingrid Kvangraven; Carolina Alves |
| Keywords: | Economía; heterodox; mitos; hostil; corriente principal. Keywords: |
| Date: | 2020–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:col:000418:018314&r=all |
| By: | María Fernanda Justiniano; María Elina Tejerina |
| Keywords: | Historia económica; Argentina; independencia; Salta; historiografía; Latinoamérica. Keywords: economic history; Argentina; independence; Salta; writing history; Latin America. |
| JEL: | B0 B2 B5 N0 |
| Date: | 2020–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:col:000418:018313&r=all |