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on Heterodox Microeconomics |
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Issue of 2022‒07‒11
seven papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Duque Garcia, Carlos Alberto |
| Abstract: | The objective of this paper is to identify the average cycles of the Colombian economy between 1967-2019 and to evaluate, through a time series analysis, investment, average rate of profit and mass of profits as their determinants. Our analytical framework is based on Marx's economic theory where the profitability of capital determines investment and, consequently, the dynamics of output. From the cyclical deviations of real GDP, estimated with the Hodrick-Prescott filter, six cycles with an average duration of 8.3 years were identified. Employing a Vector Autoregressive (VAR) model, and Granger causality tests, evidence was found in favor of Marx's hypothesis: both the rate of profit and the mass of profits determine investment while this, in turn, is co-determined by the business cycle. On the contrary, no evidence was found that investment determines either the rate of profit or the mass of profits. Thus, for the Colombian economy, the dynamics of the profitability of capital is the key to the business cycle. |
| Keywords: | Ciclo económico; Tasa de ganancia; Masa de beneficios; Modelos VAR; Cycles; Rate of profit; Mass of profits; VAR model |
| JEL: | B51 C32 E32 N16 |
| Date: | 2022–06–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:113272&r= |
| By: | Julia M. Puaschunder (The New School, New York, USA) |
| Abstract: | The time for defashionization has come. With the United Nations Conference of the Parties COP26 heralding the call for attention to sustainable fashion, society is ripe to question the whims of fashion’s impact on sustainability. Is the luxury moment of our time harmony with nature and practicing degrowth in recycling to cherish sustainability? Already in the historic political economy foundations of capitalism, workers are described to produce in order to consume. Classic business cycle theory and the creative entrepreneur portray a human-innate need for change and innovation as the spring feather of capitalism. In capitalist societies, there is a race for innovation of entrepreneurs and offering new products on a constant basis in order to evade the falling rate of profit. Capitalist constantly innovate in order to offer new products in markets and reap the highest rate of return and profit from consumers, who constantly want to change and have access to changing products. Producers of goods are in a competitive race for innovation and offering new products to ever-innovation-seeking consumers. The constant pressure to innovate and offer new products on the supply side and the constant production for a salary in order to consume the newest goods and services lie at the core of capitalist societies. Climate change and the Sustainable Development Goals but also the Green New Deals in the United States and Europe as well as the New Generation EU have formulated aspirational goals of sustainability. The circular economy and conscientious consumption have become the en vogue trends of our times. The novel Coronavirus crisis COVID-19 has also driven demand for rest, recovery and degrowth. COVID Long Haulers in particular appear to favor harmony with the environment in agrohoods driving trends of deurbanization but also biophilia trends that resemble nature in interior design and clean unprocessed nutrition. How is our classic understanding of business cycles’ reinvention drive and the innovative entrepreneurs’ creative destruction justified in light of sustainability pledges? Have we reached an age of luxury in the appreciation of environmentalism that forms a larger transcending Gestalt that benefits future generations? This article asks if the time is ripe for a defashionization of economic business cycles of reproduction and harmonize ecology with innovation. The paper also provides vivid examples of sustainability capitalism solutions, which prove that the Green New Deal aligns economic values with sustainability. The New Deals, degrowth, minimalism, biophilia and agrohoods are newest trends that appear to crowd out whims of ever-changing trends for rest in sustainable well-being. |
| Keywords: | Agrohoods, Biophilia, Business Cycle Theory, Capitalism, Capitalist societies, Change, Circular economy, Climate Change, Competition, COP26, Conscientious consumption, Consumption, Creative destruction, Defashionization, Degrowth, Demand, Ecology, Economics |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0178&r= |
| By: | Wei, A.; Hendrikse, G.W.J. |
| Abstract: | We extend the results of Feng and Hendrikse (2012) by investigating the relationship between cognition and incentives in cooperatives versus investor-owned firms (IOFs) in a multi-tasking principal-agent model. The principal chooses the incentive intensity as well as the precision of monitoring, while the agent chooses the activities. We establish that a cooperative is uniquely efficient when either the synergy between the upstream and downstream activities or the knowledgeability of the members regarding the cooperative enterprise is sufficiently high. |
| Keywords: | Cognition, incentives, cooperative, governance, multi-tasking |
| Date: | 2022–05–30 |
| URL: | http://d.repec.org/n?u=RePEc:ems:eureri:137124&r= |
| By: | Julia M. Puaschunder (The New School, New York, USA) |
| Abstract: | This paper addresses COVID-19 and its widespread and lasting inequality impacts around the globe. The paper also introduces the idea of the post-COVID-19 era heralding a new Renaissance that breeds a climate of ethics of inclusion. The economic, ethical and behavioral insights foundations of a vision for ethics of inclusivity advancements are provided in this article and concrete examples how to enact ethical inclusive leadership in the 21st century. Inequality alleviation will become necessary in inclusive leadership domains of the healthcare sector and providing access to affordable medicine. The currently rising gap between finance performance and real-world economic constraints exacerbated inequality and therefore ethics of inclusive leadership may bridge the gap between financial wealth accumulation and real-world liquidity constraints. Education is a driver of positive change that can transform globally in a digitalized learning space and social justice attentive education, which informs tomorrow’s inclusive leadership. Digitalization in the 21st century holds enormous implicit inclusive leadership potential to diminishes unnoticed inequality constraints that demand for attention to be overcome. The most pressing concerns over climate change are emphasized in order to then introduce a novel strategy to distribute the prospective economic gains from a warming globe equally within society, around the world and over time. The rest of the paper then discusses innovative methods to address inequality, for instance, through the combined strengths of law and economics. |
| Keywords: | Climate Change, Climate Stabilization, Comparative Law and Economics |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0156&r= |
| By: | Antoine Missemer (CNRS - Centre National de la Recherche Scientifique, CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The energy transition towards a low-carbon regime is a critical challenge for the 21st century. It is not only a matter of techniques, but also of social organization and cultural representations. This article explores how the ordinary economic representations of energy have been developed since the 19th century, and how they have influenced public decision-making. Through the examples of forecasting and of the distinction renewable vs. exhaustible resources, this article suggests that path dependencies still weight upon those views. When thinking about the low-carbon transition, getting out of these dependencies seems essential. |
| Abstract: | La transition d'un régime énergétique fossile vers un régime bas-carbone est l'un des grands défis du XXIe siècle. Le sujet n'est pas seulement technique, mais aussi organisationnel et culturel, touchant aux représentations et aux usages de l'énergie. Cet article revient sur la façon dont se sont construites les représentations économiques conventionnelles de l'énergie depuis le XIXe siècle, influençant ici et là la décision publique. À travers les exemples de la prospective et de la distinction renouvelables vs. épuisables, cet article suggère que des dépendances au sentier pèsent toujours sur ces représentations, et qu'à l'heure de penser la transition bas-carbone, sortir de ces dépendances semble essentiel. |
| Keywords: | energy,history of economic thought,forecasting,energy transition,path dependency,performativity,énergie,histoire de la pensée économique,prospective,transition énergétique,dépendance au sentier,performativité |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03657637&r= |
| By: | Giorgio Giorgi (University of Pavia); ; |
| Abstract: | The main purpose of the present paper is to give a unified account of the various characterizations of nonsingular M-matrices and a unified "path" the mathematical proofs concerning the equivalences of the said characterizations. Some related classes of matrices are investigated and some economic applications are discussed |
| Keywords: | M-matrices, K-matrices, Z-matrices, Leontief input-output models, linear economic models |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:pav:demwpp:demwp0206&r= |
| By: | Geoffrey Volat (ComSocs - Laboratoire Communication et Sociétés - UCA [2017-2020] - Université Clermont Auvergne [2017-2020], CISCA - Centre d'Innovations Sociales Clermont Auvergne); Amandine Plaindoux |
| Abstract: | Acteur du mouvement multiforme de l'économie sociale et solidaire (ESS), le réseau « Coopérer pour Entreprendre » développe un outil innovant : les Coopératives Jeunesse de Services (CJS). Mêlant pédagogie et activité économique, les CJS visent à favoriser l'esprit d'initiative et d'initier à la citoyenneté économique, à partir d'une activité entrepreneuriale coopérative et temporaire, sur leur territoire de vie (Coopérer pour Entreprendre, 2016). Forts de notre expérience de terrain, dans les domaines de l'éducation populaire et de l'ESS , nous avons fait l'hypothèse que l'expérience CJS dépasse ses objectifs initiaux : elle vise la construction d'une conscience citoyenne et guide les « jeunes coopérants » vers des apprentissages plus profonds et plus ambitieux. En reliant les valeurs et les principes du mouvement coopératif avec le terreau de l'éducation populaire et les pédagogies de l'Éducation Nouvelle, les CJS favorisent par l'acquisition d'une conscience citoyenne qui replace la démocratie et les enjeux d'intérêt général au cœur de notre modèle de société. Notre approche est interdisciplinaire et mobilise les sciences de l'éducation, en nous concentrant sur les travaux de Philippe Meirieu (2012) pour caractériser l'Éducation Nouvelle, ainsi que ceux de Maurice Parodi (2007) sur la pédagogie coopérative. Nous recourons aussi à la théorie de la subjectivation (Wieviorka, 2004) pour éclairer l'évolution citoyenne des jeunes coopérants. Sur le plan méthodologique, nous partons de l'étude de cas réalisée dans deux CJS normandes (Plaindoux 2016), structurée par des observations participantes et des entretiens réalisés en début et en fin de projet. Nous proposons d'abord des éléments de contexte présentant les modalités de l'expérimentation du concept québécois de CJS en France. Nous développons ensuite les principes et enjeux de l'éducation populaire, de l'éducation nouvelle et de l'organisation coopérative. Nous apportons des éléments empiriques qui illustrent la dynamique émancipatrice et citoyenne qui jaillit des interactions entre ces deux visées théoriques et la réalité CJS. Enfin, nous analysons les réactions des jeunes coopérants à l'issue de l'expérience CJS et nous les comparons avec leurs a priori au début de l'expérience, afin d'évaluer le processus de subjectivation durant l'expérience CJS. La conclusion souligne les apports et les limites de l'expérience CJS du point de vue de la recherche d'une conscience citoyenne pour les jeunes coopérants. |
| Date: | 2020–06–25 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03671571&r= |