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on Heterodox Microeconomics |
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Issue of 2021‒04‒26
seventeen papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Nath, Maanik |
| Abstract: | The government in British-ruled India established cooperative banks to compete with private moneylenders in the rural credit market. State officials expected greater competition to increase the supply of low-cost credit, thereby expanding investment potential for the rural poor. Cooperatives did increase credit supply but captured a small share of the credit market and reported net losses throughout the late colonial and early postcolonial period. The article asks why this experiment did not succeed and offers two explanations. First, low savings restricted the role of social capital and mutual supervision as methods of financial regulation in the cooperative sector. Second, a political-economic ideology that privileged equity over efficiency made for weak administrative regulation. |
| Keywords: | agriculture; colonialism; India; institutional change; rural banking |
| JEL: | N25 |
| Date: | 2021–03–16 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:109856&r= |
| By: | Vienneau, Robert L. (Independent Researcher) |
| Abstract: | This article considers structural economic dynamics, in models with fixed capital and a choice of technique, of the production of commodities. Fluke switch points are de-scribed and catalogued. For fluke switch points, parameter perturbations create a quali-tative change in how the choice of technique varies with distribution. Techniques are presented for visualizing partitions of parameter spaces such that the analysis of the choice of technique does not vary within each region. Implications are drawn about the choice of the truncation of the operation of (or the economic life of) machines and about the adoption of roundabout techniques. |
| Keywords: | Fixed capital; Choice of technique; Cambridge Capital Controversy; Structural dynamics. |
| JEL: | B51 B53 C67 D24 D33 O33 |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:ris:sraffa:0048&r=all |
| By: | Lorino, Philippe (ESSEC Research Center, ESSEC Business School) |
| Abstract: | La contribution ambiguë de Herbert Simon à l'étude des organisations : bilan raisonné du cognitivisme |
| Keywords: | Etude des organisations; Cognitivism; Herbert Simon |
| JEL: | A00 |
| Date: | 2019–09–24 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:essewp:dr-19012&r= |
| By: | Giuseppe Lucio Gaeta (Department of Human and Social Sciences, University of Naples L’Orientale, Naples, Italy); Stefano Ghinoi (Department of International Business and Economics, University of Greenwich, London, UK); Matteo Masotti (Department of Agricultural and Food Sciences, University of Bologna, Bologna, Italy); Francesco Silvestri (Department of Communication and Economics, University of Modena and Reggio Emilia, Reggio Emilia, Italy) |
| Abstract: | This paper investigates the evolution over time of the economics literature devoted to climate change. The analysis is based on 1974-2021 data extracted from the Scopus database and focuses on the publication outlets included in the first quartile of the “Economics, Econometric, and Finance†SCImago Ranking. We inspect the size and the impact of this economics literature, the geographical pattern of its production, and we provide a content analysis based on the keywords associated with the documents analysed. This study provides a detailed overview of the (still limited) interest that economists demonstrate for climate change. |
| Keywords: | climate change, economic research, bibliometric analysis |
| JEL: | Q50 Q54 |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:srt:wpaper:0321&r=all |
| By: | Virgile Chassagnon (CREG - Centre de recherche en économie de Grenoble - UGA - Université Grenoble Alpes) |
| Keywords: | participatory capitalism,worker participation,governance,firm,corporate responsibility |
| Date: | 2021–04–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03194719&r= |
| By: | Tribillon, Justinien |
| Abstract: | This article proposes an archaeology of the concept of ‘infrastructure’, focusing specifically on a period ranging from 1842 until 1951, before the term entered the English language from French. In doing so, it contributes to an ongoing discussion on ‘What does infrastructure really mean?’ by deconstructing the omnipresent concept of ‘infrastructure’ as an expression of modernity that has crystallised a sociotechnical imaginary: a relation between technology, space and power. Indeed, our understanding of its etymological, epistemological and intellectual origins is patchy, based on repeated chronological mistakes and conceptual misunderstandings. To put it bluntly: we do not know how the word came to be. By unearthing the origins of ‘infrastructure’, this article aims to contribute to scholarly debates on the definition(s) of infrastructure in social sciences, urban studies, science and technology studies and infrastructure studies. It also wishes to contribute to ongoing debates taking place in the public sphere regarding what should count as ‘infrastructure’. This paper’s findings demonstrate a clear relation to Karl Marx’s ‘historical materialism’; the paper also analyses how the word evolved over a short period of time to become sociotechnical metaphor; finally, the paper demonstrates the emergence of a concept that linked engineering to larger socioeconomic concerns in the 1890s, well before the emergence of ‘infrastructure’ as a key concept of development economics in the 1950s. |
| Date: | 2021–04–18 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:mx2u7&r= |
| By: | Flavia G. Poinsot |
| Abstract: | La revolución de las expectativas racionales se atribuye principalmente a Robert Lucas Jr. quien desarrolla sus trabajos desde principio de los 1970s sobre el trabajo seminal de Muth de 1960s. Sin embargo, al leer los escritos de Morgenstern muchas de las ideas contenidas en sus escritos captan con la misma penetración la esencia de las expectativas racionales. Inmerso en el debate de su época sobre las condiciones necesarias y suficientes para el equilibrio general y mezclando ejemplos que él considera “triviales” con sutilezas filosóficas y nociones de lógica, amalgama la idea de que, bajo incertidumbre, existen pronósticos imperfectos en base a los cuales se crean las expectativas. Incorporando conocimientos los individuos se acercan a las predicciones de la teoría, coincidiendo el núcleo de su pensamiento con la esencia de las expectativas racionales. Sin embargo, Morgenstern queda en el margen de la corriente del pensamiento económico. En este ensayo se intenta volver a poner en escena esas ideas, creadas en el entorno del sombrío sendero que lleva a Morgenstern desde la vida que vivió hasta las ideas que creó, analizando los puntos de contacto con el concepto de racionalidad en Muth y la formación de las expectativas en Lucas y Sargent. |
| JEL: | B53 D84 |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:aep:anales:4390&r= |
| By: | Kanbur, Ravi |
| Abstract: | This paper considers and assesses the concept of social externalities through human interdependence, in relation to the economic analysis of externalities in the tradition of Pigou and Arrow, including the analysis of the commons. It argues that there are limits to economic analysis. Our proposal is to enlarge the perspective and start thinking about a broader framework in which any pattern of influence of an agent or a group of agents over a third party, which is not mediated by any economic, social, or psychological mechanism guaranteeing the alignment of the marginal net private benefit with marginal net social benefit, can be attached the “externality” label and be scrutinized for the likely negative consequences that result from the divergence. These consequences may be significant given the many interactions between the social and economic realms, and the scope for spillovers and feedback loops to emerge. The paper also establishes a tentative and probably incomplete list of possible internalizing mechanisms for externalities under this broader framework, which includes: pricing and monetary incentives; altruism and solidarity; moral norms; reciprocity and mutual monitoring; centralized cooperative decision-making; and merger. There are clear reasons why the pricing mechanism is not appropriate in some cases. A more difficult question to answer is what factors determine which of the mechanisms is the appropriate one to rely on in a given sphere of relations and activities. The object of the paper is to encourage research and contributions from all the relevant disciplines of social sciences on the pervasive human interdependence that the notion of social externalities tries to capture. |
| Keywords: | Financial Economics |
| Date: | 2020–12–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:cuaepw:309989&r= |
| By: | Fleurbaey, Marc; Kanbur, Ravi; Viney, Brody |
| Abstract: | This paper considers and assesses the concept of social externalities through human interdependence, in relation to the economic analysis of externalities in the tradition of Pigou and Arrow, including the analysis of the commons. It argues that there are limits to economic analysis. Our proposal is to enlarge the perspective and start thinking about a broader framework in which any pattern of influence of an agent or a group of agents over a third party, which is not mediated by any economic, social, or psychological mechanism guaranteeing the alignment of the marginal net private benefit with marginal net social benefit, can be attached the “externality” label and be scrutinized for the likely negative consequences that result from the divergence. These consequences may be significant given the many interactions between the social and economic realms, and the scope for spillovers and feedback loops to emerge. The paper also establishes a tentative and probably incomplete list of possible internalizing mechanisms for externalities under this broader framework, which includes: pricing and monetary incentives; altruism and solidarity; moral norms; reciprocity and mutual monitoring; centralized cooperative decision-making; and merger. There are clear reasons why the pricing mechanism is not appropriate in some cases. A more difficult question to answer is what factors determine which of the mechanisms is the appropriate one to rely on in a given sphere of relations and activities. The object of the paper is to encourage research and contributions from all the relevant disciplines of social sciences on the pervasive human interdependence that the notion of social externalities tries to capture. |
| Keywords: | Production Economics |
| Date: | 2020–08–06 |
| URL: | http://d.repec.org/n?u=RePEc:ags:cuaepw:309990&r= |
| By: | François Facchini (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Les printemps arabes en 2011 ont conduit la presse des pays occidentaux à annoncer la transition des pays du sud de la méditerranée vers des régimes démocratiques garants des droits de l'homme et du citoyen. Dix ans après, on peut constater qu'une timide transition démocratique a eu lieu mais que la phase de consolidation a été un échec et qu'un pays comme la Turquie autrefois classé parmi les démocraties a désormais un régime autoritaire. Un peu comme en Algérie à la suite des journées d'octobre 1988, la démocratie s'installe mais ne réussit pas à se consolider. Une grande partie des musulmans aspirent à la démocratie 1, au développement économique et à la modernité mais ne réussissent pas à l'installer. Tel est le paradoxe mis en évidence dès 2009 par Rowley et Smith (2009) dans la revue Public Choice et qui conduit de nombreux observateurs à s'interroger sur la compatibilité de l'islam à la liberté telle qu'elle s'est construite dans les pays occidentaux et en France en particulier. Il serait péremptoire de vouloir traiter d'un tel sujet dans un si petit article. Son format donne cependant l'opportunité de donner un aperçu des réponses et des arguments qu'a suscités cette question. Il s'agit ainsi d'éviter deux écueils : l'islamophobie d'un côté et l'illusion de l'autre. La première partie constate que les pays musulmans sont historiquement plutôt des pays aux régimes liberticides. Dans une perspective idéaliste, la principale raison d'un fait institutionnel est culturelle et religieux. C'est parce que l'islam n'a aucune affinité élective avec le libéralisme que les pays musulmans sont gouvernés par des régimes autoritaires (Bousquet 1950 ; Huntington [1996], 1997 ; Lewis 2005). La seconde partie expose les objections qui ont été adressées à cette thèse de l'incompatibilité et la discute. La troisième partie conclut sur les conséquences des réponses données à cette question sur la place de l'islam en France. |
| Keywords: | islam,liberté,islam libéral,coran,connaissance,interprétation,musulman,France |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03195473&r= |
| By: | Magali Jaoul-Grammare |
| Abstract: | Malgré les évolutions sociales et l'ouverture de toutes les professions aux hommes et aux femmes, la société continue d’obéir à de nombreux stéréotypes et nombre de professions sont encore considérées comme féminines ou masculines. Au-delà des représentations sexuées des métiers, on constate également des représentations sociales liées au prestige social associé à une profession. Partant de ce constat, à travers un questionnaire administré à des collégiens et des étudiants, l'objectif de cet article est d'étudier la représentation des professions selon deux dimensions : le degré de féminisation et le degré de prestige. Les résultats obtenus montrent que les représentations genrées des professions sont quasiment identiques chez les filles et les garçons et varient peu avec l’âge. En termes de prestige, si les étudiants semblent avoir une opinion proche des classements internationaux, les collégiens quant à eux semblent influencés par la réalité socio-économique. Enfin, la construction de cartes cognitives montre que les individus ont tendance à sous noter les professions qu’ils considèrent « féminines ». Ceci est confirmé par l’estimation d’un modèle logistique qui souligne que la propension à sous noter les professions féminines est plus importante chez les garçons d’une part et chez les individus plus âgés ensuite. |
| Keywords: | professions genrées, prestige social, stéréotypes. |
| JEL: | C25 C83 D83 D91 J16 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2021-12&r= |
| By: | Kanbur, Ravi |
| Abstract: | This paper considers and assesses the concept of social externalities through human interdependence, in relation to the economic analysis of externalities in the tradition of Pigou and Arrow, including the analysis of the commons. It argues that there are limits to economic analysis. Our proposal is to enlarge the perspective and start thinking about a broader framework in which any pattern of influence of an agent or a group of agents over a third party, which is not mediated by any economic, social, or psychological mechanism guaranteeing the alignment of the marginal net private benefit with marginal net social benefit, can be attached the “externality” label and be scrutinized for the likely negative consequences that result from the divergence. These consequences may be significant given the many interactions between the social and economic realms, and the scope for spillovers and feedback loops to emerge. The paper also establishes a tentative and probably incomplete list of possible internalizing mechanisms for externalities under this broader framework, which includes: pricing and monetary incentives; altruism and solidarity; moral norms; reciprocity and mutual monitoring; centralized cooperative decision-making; and merger. There are clear reasons why the pricing mechanism is not appropriate in some cases. A more difficult question to answer is what factors determine which of the mechanisms is the appropriate one to rely on in a given sphere of relations and activities. The object of the paper is to encourage research and contributions from all the relevant disciplines of social sciences on the pervasive human interdependence that the notion of social externalities tries to capture. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2020–08–05 |
| URL: | http://d.repec.org/n?u=RePEc:ags:cuaepw:309988&r= |
| By: | Steinbacher, Mitja; Raddant, Matthias; Karimi, Fariba; Camacho-Cuena, Eva; Alfarano, Simone; Iori, Giulia; Lux, Thomas |
| Abstract: | In this survey we discuss advances in the agent-based modeling of economic and social systems. We present the state of the art in the heuristic design of agents and the connections to the results from laboratory experiments on agent behavior. We further discuss how large-scale social and economic systems can be modeled and highlight novel methods and data sources. At last we present an overview of estimation techniques to calibrate and validate agent-based models. |
| Keywords: | agent-based models, heuristic design, model calibration, behavioral economics, computational social science, computational economics |
| JEL: | B41 C60 D90 G17 L20 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:107317&r= |
| By: | Samaha, Amal |
| Abstract: | An essay from Peace, Land and Bread discussing the rise of unproductive labour in the West (bullshit jobs) and various theories which sought to explain why it exists. |
| Keywords: | Marxism, Jurgen Habermas, David Graeber, Zak Cope |
| JEL: | B14 B51 F66 J0 O3 |
| Date: | 2020–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:107169&r= |
| By: | Toptancı, Ali İskan |
| Abstract: | The Messenger of Allah (as) warned about riba in his Hajj speech. This study examines the principles of riba and how they can be applied to the field of Islamic economics, as stated in the Sunnah of the Messenger of Allah and explained in the Quran. In the study, the interpretations of the Qur'anic verse's and the hadiths of the Messenger of Allah were also described. The thinkers who started a discussion claiming that the things that were forbidden in the Quran were the form of riba referring to the practice of lending in the pre-Islamic period, the thinkers excluded riba and stated that it was haram. Modern thinkers have also raised controversial issues such as the difference between riba and usury, individual and institutional riba. All these claims have been distorted by sufficient Shariah references. While responding to the aforementioned issues, thinkers categorically explored the positive aspects of Islamic Banking and Finance and explained the distinct aspects of traditional banking. In this study, it was emphasized that any form of riba should be avoided in the Islamic Banking and Finance system. |
| Keywords: | Islamic Banking and Finance,Riba,Islamic Economics,Sharia,Quran |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:233026&r= |
| By: | Hai Thanh Nguyen |
| Abstract: | This study traces the intersectoral linkages, or the interdependence of industries, in Vietnam’s economy within the period of 2000-2012 using the input-output analysis. The total linkages– computed using Leontief inverse–are generally employed by policymakers in identifying critical industries for policy focus However, for many countries that heavily dependent on imported inputs like Vietnam, total linkages can give an erroneous result. The paper shows how important are the domestic linkages, which is the inverse net of imports, in analyzing the importance of industries in the economy. By constructing the non-competitive input-output tables relying on the assumption that imports are distributed across industries in the same proportion as the gross domestic output of the corresponding industry, the paper finds that there are considerable divergences between total and domestic linkages. The results indicate that failure to take into account import dependence tends to overestimate intersectoral linkages of some key sectors in the Vietnamese economy. |
| Keywords: | Regionalism; Globalisation; ASEAN |
| JEL: | D57 O21 O53 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:pas:papers:2021-03&r=all |
| By: | Fabrizio Fusillo (Università di Torino); Sandro Montresor (Gran Sasso Science Institute); Giuseppe Vittucci Marzetti (Università di Milano-Bicocca) |
| Abstract: | We combine the World Input-Output Dataset (WIOD) with OECD data on Analytical Business Enterprise R&D (ANBERD) and build up the network that emerges by mapping the sectoral R&D expenditure that flows in an embodied way among 690 industry-country nodes (23 industries of 30 countries), from 2009 to 2013. Drawing on frontier network analysis techniques, we examine the distribution of the relational properties of the country-industry nodes, identify the most central of them, and detect the clusters that they form. Our analysis reveals that, while the diffusion of embodied R&D is highly pervasive on a global scale, the linkages it creates across sectors tend to be highly asymmetric and polarised. Furthermore, except for transportation and ICT related industries, embodied R&D flows determine communities largely confined within national borders. Despite being based on structural inputoutput relationships, the position and role of country-industry nodes in the global network of embodied R&D knowledge show a certain variability both over time and across network dimensions. |
| Keywords: | R&D flows, input-output, global innovation network, network analysis |
| JEL: | O33 R15 O57 |
| Date: | 2021–04 |
| URL: | http://d.repec.org/n?u=RePEc:ahy:wpaper:wp16&r= |