nep-hme New Economics Papers
on Heterodox Microeconomics
Issue of 2022‒01‒17
ten papers chosen by
Carlo D’Ippoliti
Università degli Studi di Roma “La Sapienza”

  1. Anti-Meritocratic Economics in the Contemporary Era: The Issues with the Neoclassical Theory By Maxfield, Sean
  3. Beyond greenwashing: Addressing 'the great illusion' of green advertising By Béatrice Parguel; Johnson Guillaume
  4. Inflation and conflicting claims in the open economy By Guilherme Spinato Morlin
  5. Writing good economics: how texts 'on the move' perform the lab and discipline of experimental economics By Kristin Asdal; Béatrice Cointe
  7. Women empowerment and environmental sustainability in Africa By Elvis Dze Achuo; Simplice A. Asongu; Vanessa S. Tchamyou
  8. Demography’s theory and approach: (how) has the view from the margins changed? By Sigle-Rushton, Wendy
  9. Autonomisation économique de la femme marocaine au-delà du mode compassionnel By Bouchra Rahmouni
  10. DeepHAM: A Global Solution Method for Heterogeneous Agent Models with Aggregate Shocks By Jiequn Han; Yucheng Yang; Weinan E

  1. By: Maxfield, Sean
    Abstract: No longer does society consider the full extent of the argument and consequences or benefits of a system change. All the record-breaking economic success of the last few decades simply furthers a divide between people/organizations that have money and people/organizations that need money. However, those that can view this divide assign the capitalistic system as the culprit when in fact it is the modern mutation of capitalism that is at fault. Within modern neoclassical economies, there is no form of value-based meritocracy between people and organizations.
    Keywords: economics, econ, economic, economy, economies, neoclassical, classical, capitalism, Adam Smith, socialism, price, prices, markets, valuation, value, hierarchies, hierarchical, monetary, equity, finance, financial, financial services, exchanges, stock markets, secondary markets, businesses, inflation
    JEL: A1 A10 A11 A13 A2 A20 B0 B1 B2 B3 B4 E0 E6 G0 N0 N1 P1 P10 P12 P16 P5 P51
    Date: 2021–12–18
  2. By: Gunarso, Gatot Hadi
    Abstract: This study aims to analyze the thoughts of M. Abdul Mannan about the concept of price in Islamic economics. The prices offered by the secular market are not seen as guidelines for the welfare of society, especially in the context of Islamic economics where social care is so great that distribution is the key to productive activities. The competition implied in the market mechanism needs to be complemented by conscious control, supervision and cooperation. Supervision in price control is carried out by the government or a country. The results of the research of M. Abdul Mannan formulate that the concept of price is adjusted by the value of the product on demand and supply so as to realize healthy competition in covering the basic principles of justice in realizing satisfaction/surplus between the seller and the buyer. M. Abdul Mannan's thinking about prices aims to avoid monopoly prices and artificial prices that are based on speculation, smuggling and hoarding. Regulations on prices in Indonesia already exist and are relevant to M. Abdul Mannan's thoughts, but the lack of firm action in its application causes producers to commit violations in determining so that justice does not materialize, especially in determining prices.
    Keywords: Muhammad Abdul Mannan, Islamic Economics, Price Concepts, Price Regulations in Indonesia.
    JEL: A10 H0 N0 N1
    Date: 2021–08–13
  3. By: Béatrice Parguel (DRM - MLAB - Dauphine Recherches en Management - MLAB - DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique, CNRS - Centre National de la Recherche Scientifique); Johnson Guillaume (DRM MOST - DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique, CNRS - Centre National de la Recherche Scientifique)
    Abstract: This article critically reviews how marketing research has investigated green advertising and greenwashing over the past three decades. First, we present how the mainstream literature initially considered green advertising primarily as a branding project, until the greenwashing debate emerged in the 1990s and became the key focus of marketing research on climate change in the late 2000s. Adopting a more critical stance, we then argue that the unanimous and uncritical condemnation of greenwashing in the marketing academic literature actually helps to perpetuate the legitimacy of green advertising, and so prevents challenge to the foundations of the neoliberal agenda. We call this phenomenon the "great green illusion."
    Abstract: Cet article interroge de manière critique comment la recherche en marketing a étudié la publicité verte et le greenwashing au cours des trois dernières décennies. Si la littérature mainstream a d'abord considéré la publicité verte comme participant des opérations de branding des marques et des organisations, le débat sur le greenwashing, apparu dans les années 1990, est devenu central à la fin des années 2000 dans les travaux conduits en marketing sur le changement climatique. Adoptant une posture plus critique, nous soutenons que la condamnation aussi rapide qu'unanime du greenwashing sert, en réalité, à préserver la légitimité de la publicité verte et à éviter de questionner les fondements de l'agenda néolibéral. Elle participe ainsi de ce que nous qualifions de « grande illusion verte. »
    Keywords: green advertising,greenwashing,CSR,regulation,self-regulation,neoliberalism
    Date: 2021
  4. By: Guilherme Spinato Morlin
    Abstract: Exchange rates and international prices are fundamental to explain inflation in open economies. Conflict inflation models account for these variables by including imported inputs and, in some cases, a distributive impact of exchange rates. A different viewpoint emerges from the Classical-Keynesian theory of distribution for a price-taker open economy. Thus, we explore this alternative by developing a conflict inflation model building on Classical Keynesian approach. The paper contributes to the literature by combining the conflicting claims approach with the Classical-Keynesian open economy framework. Including tradable prices, the model considers their direct impact on distribution. Therefore, it addresses a cause of inflation overlooked in the literature. Finally, conflict inflation affects the real exchange rate, which becomes an important distributive variable
    JEL: B51 D33 E11 E31 F41
    Date: 2021–10
  5. By: Kristin Asdal (UiO - University of Oslo); Béatrice Cointe (CSI i3 - Centre de Sociologie de l'Innovation i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique)
    Abstract: While there is a wealth of research on the history, philosophy and epistemology of economics, few studies approach economics as a practical and material endeavour in the way STS and ethnographies of science have approached natural sciences. To explore how objectivity is practically accomplished in laboratory economic experiments, we focus on a, at the face of it, modest and mundane thing: the written instructions that guide experimental subjects in the lab. In a material-semiotic perspective, these instructions can be understood as text-devices. We follow this text-device 'on the move' from its very writing, through the lab, the review process and out into the journal article. To do so, we analyse "text-author ensembles": journal articles together with practice-oriented interviews with their authors. We show that the instructions act not simply as a text, but as an experimental instrument that also performs the procedure of experimental economics. They draw together the procedural, material and rhetorical dimensions of experimental work in economics, and link the lab setting to collective validation procedures within the discipline of economics. To achieve this, experimental economists rely on qualitative writing skills refined in collective writing and reviewing practices. This particular text-device 'on the move' alert us not only to the role of writing and writing skills in the production of scientific knowledge, but to the role of texts as material and semiotic objects that can produce not only facts, but labs and disciplines too, and that are key to the accomplishment of objectivity in experimental economics.
    Keywords: economics,experiments,texts,performativity,laboratory
    Date: 2021
  6. By: Christophe Salvat (CGGG - Centre Gilles-Gaston Granger - CNRS - Centre National de la Recherche Scientifique - AMU - Aix Marseille Université)
    Abstract: This article questions the articulation between John Stuart Mill's initial project of creating a new science dedicated to the means of improving individual character, a science named "ethology," and the treatise of political economy that he published instead. My claim is that his defense of free competition as well as some of the arguments he opposes to it, and which have often puzzled his readers, actually reveal the moral agenda of his political economy and of some of his political principles, specifically his ambivalent position towards paternalism.
    Date: 2021–10–05
  7. By: Elvis Dze Achuo (University of Dschang, Cameroon); Simplice A. Asongu (Yaoundé, Cameroon); Vanessa S. Tchamyou (Yaoundé, Cameroon)
    Abstract: This study examines the effect of women’s socioeconomic empowerment on environmental sustainability in Africa over the 1996-2019 period. Results of the system Generalised method of Moments (GMM) estimator reveal that women’s socioeconomic empowerment is environment enhancing. Moreover, the findings reveal that the environmental impact of women’s socioeconomic empowerment is modulated through GDP per capita and Foreign Direct Investments (FDI), leading to respective net effects of 0.002055 and 0.003478. These positive net effects are offset beyond respective threshold values of 9.513889 and 9.611398. These thresholds of GDP and FDI are critical for complementary policies relating to the link between women empowerment and environmental sustainability. Consequently, for women empowerment to effectively contribute to environmental sustainability in Africa, various governments, either through individual or concerted efforts should endeavour to create enabling business environments capable of attracting substantial FDI necessary to propel sustainable growth. Moreover, the nexus is not linear and hence, governments should also be aware of critical levels of FDI and GDP per capita at which, complementary policies are needed for women’s socioeconomic empowerment to maintain a positive influence on environmental sustainability.
    Keywords: Women empowerment, Environmental sustainability, Ecofeminism, Africa
    JEL: B54 J16 O55 Q56
    Date: 2022–01
  8. By: Sigle-Rushton, Wendy
    Abstract: Around the time that Population Studies celebrated its 50th anniversary in 1996, Susan Greenhalgh published ‘An intellectual, institutional, and political history of twentieth-century demography’. Her contribution described a discipline that, when viewed from its margins, prompted scholars in other disciplines to ask the following questions: ‘Why is the field still wedded to many of the assumptions of mid-century modernization theory and why are there no critical … perspectives in the discipline?’ (Greenhalgh 1996, p. 27). Those questions still arise today. Similarly, Greenhalgh’s observation that ‘neither the global political economies of the 1970s, nor the postmodernisms and postcolonialities of the 1980s and 1990s, nor the feminisms of any decade have had much perceptible impact on the field’ (pp. 27–8), remains a fairly accurate depiction of research published in Population Studies and other demography journals. In this contribution, focusing predominantly on feminist research and insights, I discuss how little has changed since 1996 and explain why the continued lack of engagement concerns me. Demographers still often fail to appreciate the impossibility of atheoretical ‘just descriptive’ research. Our methods carry assumptions and so rely on (often) implicit theoretical frameworks. Not making frameworks explicit does not mean they do not exert an important influence. I end by proposing that the training of research students should be part of a strategy to effect change.
    Keywords: feminist theory; modernization theory; sex role theory; gender; situated knowledge; Wiley deal
    JEL: N0
    Date: 2021–12–15
  9. By: Bouchra Rahmouni
    Abstract: La crise sanitaire de la Covid-19 a mis en exergue les limites de la société-monde. En effet, sans la femme on ne peut faire face aux défis du millénaire et l’on ne peut surpasser les impacts de la pandémie et les bouleversements révolutionnaires qu’elle génère et qu’elle continuera à générer. Dans le contexte de la Journée des droits de la femme, on ne peut s’empêcher de s’arrêter devant le rôle central que joue la femme marocaine en tant qu’acteur moteur du développement économique. Multiples sont les avancées réalisées au Maroc en matière d’égalité, à commencer par la Constitution de 2011 qui prône la parité et la lutte contre toute forme de discrimination. La Vision royale n’a de cesse de placer les intérêts de la femme au premier plan et reflète le choix ferme de son autonomisation à tous les niveaux. Ainsi, il est nécessaire de veiller à la mise en place d’outils, notamment un code de l’égalité du genre dans le marché du travail, permettant d’accompagner cette ambition, avec la régionalisation avancée comme pilier d’action et cadre principal pour voir prospérer la femme en tant que membre actif de la société et de l’économie.
    Date: 2021–03
  10. By: Jiequn Han; Yucheng Yang; Weinan E
    Abstract: We propose an efficient, reliable, and interpretable global solution method, $\textit{Deep learning-based algorithm for Heterogeneous Agent Models, DeepHAM}$, for solving high dimensional heterogeneous agent models with aggregate shocks. The state distribution is approximately represented by a set of optimal generalized moments. Deep neural networks are used to approximate the value and policy functions, and the objective is optimized over directly simulated paths. Besides being an accurate global solver, this method has three additional features. First, it is computationally efficient for solving complex heterogeneous agent models, and it does not suffer from the curse of dimensionality. Second, it provides a general and interpretable representation of the distribution over individual states; and this is important for addressing the classical question of whether and how heterogeneity matters in macroeconomics. Third, it solves the constrained efficiency problem as easily as the competitive equilibrium, and this opens up new possibilities for studying optimal monetary and fiscal policies in heterogeneous agent models with aggregate shocks.
    Date: 2021–12

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