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on Heterodox Microeconomics |
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Issue of 2022‒12‒19
twenty papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Heise, Arne |
| Abstract: | The capitalism John Maynard Keynes struggled to analyse was clearly an industrial capitalism in which the investor used physical capital only to end up with more money than he started with. It is particularly the post Keynesian school of 'monetary or fundamentalist Keynesianism' which elaborated Keynes's monetary theory of production into an alternative economic paradigm that replaces the exchange ontology with an ontology based on nominal obligations. As economic history reports a higher speed of financial than real asset accumulation over the past half a century - a process often dubbed "financialisation" -, doubts have been raised as to whether this transformation of industrial capitalism into financialised capitalism demands for a new macroeconomic approach. |
| Keywords: | John Maynard Keynes,Hyman P. Minsky,monetary production economy,industrialcapitalism,financial capitalism,Financial Instability Hypothesis |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cessdp:96&r=hme |
| By: | Féliz, Mariano; Melón, Daiana Elisa |
| Abstract: | The article is structured as follows. After this brief introduction, we present our analytical framework, providing a succinct discussion on marxian dependency and racial capitalism as key elements of our analysis. Then we engage in a critical dissection of the green developmentalist initiatives to tackle climate change from Argentina. Afterwards, we discuss the strengths and limitations of the Pact, and later on we present some of the main ideas being stressed by radical eco-social collectives and organisations in Argentina. We finish our work with some brief reflections. |
| Date: | 2022–11–17 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:rqy5k&r=hme |
| By: | Thomas Brzustowski; Francesco Caselli (London School of Economics (LSE); Centre for Macroeconomics (CFM); Centre for Economic Policy Research (CEPR)) |
| Abstract: | We develop and formalize an equilibrium concept for a dynamic economy in which production takes place in worker cooperatives. The concept rules out allocations of workers to cooperatives in which a worker in one cooperative could move to a different cooperative and make both herself and the existing workers in the receiving cooperative better off. It also rules out allocations in which workers in a cooperative would be made better off by some of the other workers leaving. We also provide a minimum-information equilibrium-selection criterion which operationalizes our equilibrium concept. We illustrate the application of our concept and operationalization in the context of an overlapping-generation economy with specific preferences and technology. The cooperative economy follows a dynamic path qualitatively similar to the path followed by a capitalist economy, featuring gradual convergence to a steady state with constant output. Quantitatively, however, the cooperative economy features a static inefficiency, in that, for a given aggregate capital stock, firm size is smaller than what a social planner would choose. On the other hand, the cooperative economy cannot be dynamically inefficient, and could accumulate capital at a rate that is higher or lower than the capitalist economy. We also present an illustrative calibration which quantitatively compares steady-state incomes in a cooperative and in a capitalist economy. |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:cfm:wpaper:2101&r=hme |
| By: | , Hudzaifah; harefa, Primoadin |
| Abstract: | : Capitalism as an economic system that is implemented by most countries in the world today, in fact it gave birth to injustice and social inequality are increasingly out of control. Social and economic inequalities are felt both between countries (developed and developing countries) as well as in society itself (the rich minority and the poor majority). The condition is born from the practice of departing from faulty assumptions about the man. In capitalism the individual to own property released uncontrollably, causing a social imbalance. On the other hand, Islam never given a state model that guarantees fair distribution of ownership for all members of society, ie at the time of the Prophet Muhammad established the Islamic government in Medina. In Islam, the private ownership of property was also recognized but not absolute like capitalism. Islam also recognizes the forms of joint ownership for the benefit of society and acknowledges the ownership of the state that aims to create a balance and social justice. |
| Date: | 2022–11–17 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:ftsx9&r=hme |
| By: | Beckert, Jens |
| Abstract: | Warum reagieren Gesellschaften so zögerlich auf die Klimakrise? Die in dem Essay verfolgte These lautet: Die wirtschaftlichen, politischen und sozialen Prozesse moderner kapitalistischer Gesellschaften weisen Macht- und Anreizstrukturen auf, die hinreichende Reaktionen auf die Klimakrise verhindern. |
| Keywords: | Kapitalismus,Klimakrise,ökologischer Konsum,staatliche Steuerungsfähigkeit,Wirtschaftsmacht,capitalism,climate crisis,ecological consumption,economic power,state steer-ing capacity |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:mpifgd:227&r=hme |
| By: | Stefanović, Ana; Scuro Somma, Lucía; Vaca-Trigo, Iliana |
| Keywords: | ECONOMIA DE LA SALUD, IGUALDAD DE GENERO, SALUD, CUIDADORES, TRABAJO NO REMUNERADO, EMPLEO DE LA MUJER, MUJERES, ROLES DE GENERO, HEALTH ECONOMICS, GENDER EQUALITY, HEALTH, CAREGIVERS, UNPAID WORK, WOMEN'S EMPLOYMENT, WOMEN, GENDER ROLES |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:48230&r=hme |
| By: | Victor Hiller (Université Paris-Panthéon-Assas, LEMMA - Laboratoire d'économie mathématique et de microéconomie appliquée - Université Paris-Panthéon-Assas); Nouhoum Touré |
| Abstract: | A large body of evidence suggests that women's empowerment, both within the household and in politics, benefits to children and has the potential to promote economic development. Nevertheless, the existing interactions between these two facets of empowerment have not been considered thus far. The aim of the present paper is to fill this gap by proposing a theoretical framework in which women's bargaining power within both the private sphere and the public sphere is endogenous. We show that the mutual interplay between the evolution of women's voice in the family and in society may lead to the emergence of multiple equilibria and pathdependency phenomena. We also discuss policy interventions that are the most suitable to promote women's empowerment when its multidimensional nature is taken into account. |
| Keywords: | Female Empowerment,Intrahousehold Bargaining Power,Institutional Bargaining Power,Gender Inequality,Economic Development |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03843890&r=hme |
| By: | Clara Zanon Brenck (Department of Economics, New School for Social Research) |
| Abstract: | This paper explores different tax regimes in a Post-Keynesian model where workers get into debt to emulate the consumption of upper-income classes. The government taxes income to fund a social wage that would reduce workers’ need to get into debt. Three tax regimes are analyzed: taxing profits, managers’ wages, or both. In a numerical exercise, we explore the effects of changing the within-wage and functional inequalities. The government’s income tax choices and the distribution of the wage bill matter for the sustainability of the economy and for the relation between distribution and growth. Taxing only profits and reducing wage inequality is the best possible outcome if we were to wind down the unsustainability feature of Neoliberalism without sacrificing real performance. |
| Keywords: | Inequality, debt dynamics, tax regime, sustainable growth |
| JEL: | D31 E12 O41 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:new:wpaper:2212&r=hme |
| By: | J Ballon (LADYSS - Laboratoire Dynamiques Sociales et Recomposition des Espaces - UP1 - Université Paris 1 Panthéon-Sorbonne - UP8 - Université Paris 8 Vincennes-Saint-Denis - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité) |
| Keywords: | cooperatives,methodology,participatory-action research,pragmatism,coopératives,méthodologie,recherche participative-action,pragmatisme |
| Date: | 2022–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03842635&r=hme |
| By: | Castelli, Chiara; Castellini, Marta; Ciola, Emanuele; Gusperti, Camilla; Romani, Ilenia Gaia; Vergalli, Sergio |
| Abstract: | The Water, Energy, Food and Ecosystems (WEFE) nexus refers to the system of complex and highly non-linear interconnections between these four elements. It now represents the basic framework to assess and design policies characterized by an holistic environmental end economical perspective. In this work, we provide a systematic review of the macroeconomic models investigating its components as well as combinations of them and their interlinkages with the economic system. We focus on four different types of macroeconomic models: Computable General Equilibrium (CGE) models, Integrated Assessment Models (IAMs), Agent-based Models (ABMs), and Dynamic Stochastic General Equilibrium (DSGE) models. On the basis of our review, we find that the structure of IAMs is currently the most used to represent the nexus complexity, while DSGE models focus only on single components but appear to be better suited to account for the randomization of exogenous shocks. CGE models and ABMs could be more effective on the side of the policy perspective. Indeed, the former can account for interlinkages across sectors and countries, while the latter can define theoretical frameworks that better approximate reality. |
| Keywords: | Environmental Economics and Policy, Land Economics/Use, Research Methods/ Statistical Methods, Resource /Energy Economics and Policy |
| Date: | 2022–11–28 |
| URL: | http://d.repec.org/n?u=RePEc:ags:feemwp:329519&r=hme |
| By: | Bucheli, Marietta; Salazar Villano, Fabián Enrique |
| Keywords: | COOPERACION ENTRE ORGANISMOS, COOPERATIVAS, INSTITUCIONES PUBLICAS, POLITICA DE DESARROLLO, DISTRIBUCION DEL INGRESO, INTER-AGENCY COOPERATION, COOPERATIVES, PUBLIC INSTITUTIONS, DEVELOPMENT POLICY, INCOME DISTRIBUTION |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:48219&r=hme |
| By: | Stefanović, Ana; Scuro Somma, Lucía; Vaca-Trigo, Iliana |
| Keywords: | ADELANTO DE LA MUJER, COVID-19, CUIDADORES, EMPLEO, IGUALDAD DE GENERO, SEGURIDAD SOCIAL, SALUD, VIRUS, EPIDEMIAS, TRABAJO NO REMUNERADO, ECONOMIA DOMESTICA, CREACION DE EMPLEOS, HOGARES, POLITICA SOCIAL, WOMEN’S ADVANCEMENT, COVID-19, CAREGIVERS, EMPLOYMENT, GENDER EQUALITY, SOCIAL SECURITY, HEALTH, VIRUSES, EPIDEMICS, UNPAID WORK, HOME ECONOMICS, EMPLOYMENT CREATION, HOUSEHOLDS, SOCIAL POLICY |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:48238&r=hme |
| By: | Ablezova, Mehrigiul; Koparanova, Malinka; Steinhilber, Silke; Azizova, Nargis |
| Keywords: | COVID-19, VIRUS, EPIDEMIAS, SALUD, CUIDADORES, EMPLEO DE LA MUJER, IGUALDAD DE GENERO, SEGURIDAD SOCIAL, TRABAJO NO REMUNERADO, MUJERES MIGRANTES, ATENCION A LA INFANCIA, INCORPORACION DE LA PERSPECTIVA DE GENERO, MUJERES, COVID-19, VIRUSES, EPIDEMICS, HEALTH, CAREGIVERS, WOMEN'S EMPLOYMENT, GENDER EQUALITY, SOCIAL SECURITY, UNPAID WORK, WOMEN MIGRANTS, CHILD CARE, GENDER MAINSTREAMING, WOMEN |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:48250&r=hme |
| By: | Chopra, Deepta; Krishnan, Meenakshi |
| Keywords: | COVID-19, VIRUS, EPIDEMIAS, SALUD, CUIDADORES, IGUALDAD DE GENERO, TRABAJO NO REMUNERADO, INCORPORACION DE LA PERSPECTIVA DE GENERO, COVID-19, VIRUSES, EPIDEMICS, HEALTH, CAREGIVERS, GENDER EQUALITY, UNPAID WORK, GENDER MAINSTREAMING |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:48254&r=hme |
| By: | Sajoux, Muriel; Alsulaiman, Abdulsalam; Torossian, Lena; Attieh, Hala; Tabbah, Ghada |
| Keywords: | COVID-19, VIRUS, EPIDEMIAS, SALUD, CUIDADORES, ADELANTO DE LA MUJER, ATENCION A LA INFANCIA, POLITICA LABORAL, EMPLEO DE LA MUJER, FAMILIA, ASISTENCIA A LOS ANCIANOS, IGUALDAD DE GENERO, COVID-19, VIRUSES, EPIDEMICS, HEALTH, CAREGIVERS, WOMEN'S ADVANCEMENT, CHILD CARE, LABOUR POLICY, WOMEN'S EMPLOYMENT, FAMILY, CARE OF AGEING PERSONS, GENDER EQUALITY |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:48256&r=hme |
| By: | Loyd Sungirirai; Henry Gurajena; Grace Gaolawole |
| Abstract: | Botswana's housing finance sector has undergone substantial transformations and growth over the past two decades from a relatively small banking sector dominated by commercial banks to ten commercial banks, four investment banks, two state-owned development finance organisations and one building society. The main aim of this research is to investigate available options for raising housing finance for low-income earners in Botswana. The study of this nature is important for the housing finance sector which is mostly represented by the banking sector as the formal system of housing finance, mostly through mortgage finance (Tomlison, 2006). According to (Tomlison, 2006) those that cannot afford a mortgage loan will at least be able to house themselves incrementally through the construction of houses. The study target population constituted the formally registered SACCOS and a sample from Gaborone was drawn for the semi-structured questionnaire which was utilised. The quantitive research approach used descriptive statistics to analyse the findings of this study. The research findings supports the noon that non-bank and informal finance systems provide small loans and small savings for housing finance. The informal systems include group-based savings collections such as Savings and Credit Cooperative Society (SACCOS), Internal Savings and Lending Schemes (ISLES) and microfinance firms that cover a wide range of community needs. ISLES serve economic and social purposes.SACCOS are an extension of Rotang Savings and Credi tAssociaon (ROSCAS). In Botswana, ISLES exist in various names depending with the community they are commonly popular amongst all and are referred to as motshelo, mahodisano in Setswana, and stokvels - membership is by individual periodic payments which can be weekly or monthly payment with an arrangement of peer lending and is different from microcredit but operate almost in the same way. This arrangement provide a safe financial inclusion especially for those in informal employment. |
| JEL: | R3 |
| Date: | 2022–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:afr:wpaper:2022-024&r=hme |
| By: | Stefanović, Ana; Scuro Somma, Lucía; Vaca-Trigo, Iliana |
| Keywords: | EMPLEO DE LA MUJER, CUIDADORES, IGUALDAD DE GENERO, SEGURIDAD SOCIAL, MITIGACION DE LA POBREZA, INVERSION PUBLICA, CREACION DE EMPLEOS, WOMEN’S EMPLOYMENT, CAREGIVERS, GENDER EQUALITY, SOCIAL SECURITY, POVERTY MITIGATION, PUBLIC INVESTMENT, EMPLOYMENT CREATION |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:48240&r=hme |
| By: | Joshi, Deepa; Braaten, Y.; Hakhu, Arunima; Pradhan, Rubina; Gallant, Bryce |
| Abstract: | The growing relevance of research on gender and social inclusion in agricultural research for development calls for systemic, transformative change processes. Transformative gender ambitions can stand at odds with personal biases and experiences that shape diverse understandings of gender, institutional values, structures and cultures that tend to reward technological quick-fix solutions, and other practical challenges to ‘doing’ gender on the ground. Very little is known about these challenges. How are these challenges navigated by (relatively small) teams of gender researchers, who are often caught between the demand for tangible fast gains on gender, and the intractable challenges of deep-rooted and complex, intersectional gender inequalities? This was the focus of the CGIAR Research Program on Water, Land and Ecosystems (WLE) End of Program Reflection and Evaluation (EoPRE) to assess how gender and inclusion research is pursued, and the key barriers to knowing and doing gender in eight research projects. Adopting a reflexive, self-analytical feminist approach to evaluation, this EoPRE facilitated eight project teams, diverse and with an uneven focus on gender, to connect the dots between the processes of knowing and doing gender research. A key finding of this evaluation is that the need for change is foremost internal. We need to begin by fixing our personal biases and assumptions, and fixing institutional cultures, values and structures instead of just trying to fix things out there, including fixing poor and marginalized women. A key recommendation is to seek more regular and open conversations across researcher disciplines and hierarchies, and between CGIAR and external partners and stakeholders, including feminist grassroots actors and networks – on what works well (and does not) and why. This would allow us to grasp why we start with different meanings and conceptualizations of gender; how agile we are (or not) in adapting to changes on the ground; and how, through a culture of reflection and learning, we might shift pathways to more transformative change processes in a fast evolving and increasingly unequal world. |
| Keywords: | Agribusiness, Agricultural and Food Policy, Institutional and Behavioral Economics, Research and Development/Tech Change/Emerging Technologies |
| Date: | 2022–03–21 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iwmirp:329158&r=hme |
| By: | Vaca-Trigo, Iliana; Baron, Camila |
| Abstract: | In recent years, a number of proposals have highlighted how restrictive it is to use gross domestic product (GDP) as a measure of well-being. This document takes up those criticisms and also showcases the limitations of GDP as a measure of output. What GDP measures and what it excludes is a product of conventions that reflect androcentric biases. The failure to appraise natural resources and non-remunerated services produced by households results in a skewed perspective on the economy that focuses on markets and neglects other processes that are essential to human life. The Latin American and Caribbean region has a long history of political and technical agreements that emphasize the importance for societies of issues such as care, time distribution and well-being. The document proposes measuring what societies value and for decision-making to take on board measurements that complement GDP, time-use indicators in particular. |
| Keywords: | PRODUCTO INTERNO BRUTO, CONDICIONES ECONOMICAS, BIENESTAR SOCIAL, HOGARES, TRABAJO NO REMUNERADO, TIEMPO, VALOR, MEDICION, INDICADORES DEL DESARROLLO, GROSS DOMESTIC PRODUCT, ECONOMIC CONDITIONS, SOCIAL WELFARE, HOUSEHOLDS, UNPAID WORK, TIME, VALUE, MEASUREMENT, DEVELOPMENT INDICATORS |
| Date: | 2022–09–21 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col022:48157&r=hme |
| By: | Christopher Chan (York University [Toronto], ACU - Australian Catholic University, UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes, IGR-IAE Rennes - Institut de Gestion de Rennes - Institut d'Administration des Entreprises - Rennes - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes); Subramaniam Ananthram (Curtin University [Perth] - PATREC - Planning and Transport Research Centre); Keyur Thaker (IMM Indore - Indian Institute of Management Indore); Yi Liu (Shandong University) |
| Abstract: | Based on Hunt and Vitell's theory of ethics, using three vignettes, we tested intrinsic and extrinsic religiosities and five ethical principles (justice, deontology, relativism, egoism, and utilitarianism) in the ethical decisionmaking process of 232 Indian business professionals. Intrinsic religiosity is positively related to ethical recognition and intent and extrinsic religiosity is negatively related to ethical intent in the vignette concerning duty of care. Although intrinsic religiosity predicted justice, deontology and relativism in three vignettes, it is also positively related to utilitarianism in one vignette. Egoism is not related to intrinsic and extrinsic religiosities. Extrinsic religiosity is negatively related to justice (one vignette), deontology (two vignettes), relativism (two vignettes) and utilitarianism (one vignette). Moreover, the intrinsic religiosity-ethical recognition and extrinsic religiosity-ethical intent relationships are varyingly mediated by the ethical principles. We extend Hunt and Vitell's theory in a multi-faith context and our findings have implications for Indian business leaders and employees. |
| Keywords: | Intrinsic religiosity,Extrinsic religiosity,Ethical recognition,Ethical intent,Management control,Multi-faith,India |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03781058&r=hme |