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on Heterodox Microeconomics |
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Issue of 2025–08–25
eleven papers chosen by Carlo D’Ippoliti, Università degli Studi di Roma “La Sapienza” |
| By: | Martin Jaraiz |
| Abstract: | This paper presents a novel Darwinian Agent-Based Modeling (ABM) methodology formacroeconomic forecasting that leverages evolutionary principles to achieve remarkablecomputational efficiency and emergent realism. Unlike conventional DSGE and ABM approachesthat rely on complex behavioral rules derived from large firm analysis, our framework employssimple "common sense" rules representative of small firms directly serving final consumers. Themethodology treats households as the primary drivers of economic dynamics, with firms adaptingthrough market-based natural selection within limited interaction neighborhoods. We demonstrate that this approach, when constrained by Input-Output table structures, generates realistic economic patterns including wealth distributions, firm size distributions, andsectoral employment patterns without extensive parameter calibration. Using FIGARO Input-Output tables for 46 countries and focusing on Austria as a case study, we show that the modelreproduces empirical regularities while maintaining computational efficiency on standard laptopsrather than requiring supercomputing clusters. Key findings include: (1) emergence of realistic firm and employment distributions fromminimal behavioral assumptions, (2) accurate reproduction of the initial Social Accounting Matrixvalues through evolutionary dynamics, (3) successful calibration using only 5-6 country-specificparameters to complement the FIGARO data, and (4) computational performance enabling fullsimulations on consumer hardware. These results suggest that evolutionary ABM approaches canprovide robust policy insights by capturing decentralized market adaptations while avoiding thecomputational complexity of traditional DSGE and comprehensive ABM models. |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2507.04074 |
| By: | Davis, John B. (Department of Economics Marquette University); (Department of Economics Marquette University) |
| Abstract: | Compares the mainstream and Institutional and evolutionary economics views of individual and collective behavior. Describes the methodological assumptions for each. Distinguishes the two opposed approaches conceptions of time they employ. Explains the role social identity applies in explaining two opposed approaches adopt different conceptions of time. Closes with an explanatory dilemma the subject creates. |
| Keywords: | individual behavior, collective behavior, mainstream econonmics, Institutional and evolutionary economics |
| JEL: | B31 B41 B52 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:mrq:wpaper:2025-04 |
| By: | Hein, Eckhard |
| Abstract: | This contribution reviews key developments in Kaleckian economics after Kalecki, with a focus on its application to mature capitalist economies. Rather than revisiting interpretations of Kalecki's original work, the contribution highlights subsequent theoretical and empirical extensions. It begins with Josef Steindl's foundational role in shaping Kaleckian economics, and then explores two major areas: distribution and growth models, and conflict inflation models, which have evolved considerably since the 1970s. The survey demonstrates that Kaleckian economics, as major strand of post-Keynesian economics, provides a coherent and consistent alternative to mainstream approaches, grounded in the principles of effective demand and distributional conflict, with a wide range of applications. While comprehensive within its chosen scope, the paper does not address Kaleckian contributions in areas such as pricing beyond Steindl, development economics, or post-capitalist economics, which would merit separate treatments. |
| Keywords: | Kaleckian economics, post-Keynesian economics, Josef Steindl, distribution and growth, conflict inflation |
| JEL: | B22 B59 E12 E31 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ipewps:323943 |
| By: | Aicha Ahnach (FSJES Agadir, Université Ibn Zohr = Ibn Zohr University [Agadir]); Lahoussine Rachidi (FSJES Agadir, Université Ibn Zohr = Ibn Zohr University [Agadir]) |
| Abstract: | This article explores the theoretical framework of cooperative entrepreneurship by identifying its key conceptual dimensions. Through a narrative literature review, it traces the historical roots of the cooperative movement, highlighting the ideas of pioneers such as Saint-Simon and Fourier, along with the early implementations of consumer, credit, and production cooperatives. The paper emphasizes the fundamental values of cooperatives, including equality, solidarity, and democracy, which distinguish them from traditional capitalist enterprises. These core values underpin the unique structure and purpose of cooperatives, focusing on collective well-being rather than individual profit maximization. The article also analyzes various theoretical approaches to cooperative entrepreneurship, acknowledging the significant contributions of different scholars. It situates cooperative entrepreneurship within the broader framework of social entrepreneurship, stressing its capacity to meet collective needs while enhancing individual autonomy. Cooperative entrepreneurship is presented as a viable and resilient alternative to conventional capitalist models, offering innovative solutions to social and economic challenges. In conclusion, the study explores the main dimensions of cooperative entrepreneurship, focusing on the creation of both economic and social value, participatory governance, and cooperative identity. These dimensions highlight the distinct nature of cooperative enterprises, which not only generate financial sustainability but also promote social inclusion and community development through democratic decision-making and shared ownership. The cooperative identity, rooted in cooperative principles, is central to maintaining a clear sense of purpose and aligning with ethical and social values. Overall, the article provides a comprehensive examination of cooperative entrepreneurship, demonstrating its potential to address contemporary economic and social issues through a sustainable and inclusive approach |
| Abstract: | Cet article explore le cadre théorique de l'entrepreneuriat coopératif en identifiant ses dimensions conceptuelles clés. En se basant sur une revue de littérature narrative, il retrace les origines du mouvement coopératif, en mettant en avant les idées de pionniers tels que Saint-Simon et Fourier, ainsi que les premières coopératives de consommation, de crédit et de production. L'article souligne les valeurs fondamentales des coopératives, notamment l'égalité, la solidarité et la démocratie, qui les distinguent des entreprises capitalistes traditionnelles. Il analyse ensuite les différentes approches théoriques, en reconnaissant les contributions de divers penseurs. L'étude situe l'entrepreneuriat coopératif dans le contexte plus large de l'entrepreneuriat social en soulignant son potentiel à répondre aux besoins collectifs tout en promouvant l'autonomie des membres. Enfin, l'article se conclut par l'exploration des principales dimensions du construit de l'entrepreneuriat coopératif, incluant la création de valeur économique et sociale, la gouvernance participative et l'identité coopérative. |
| Keywords: | social entrepreneurship, cooperative identity., participatory governance, social value, economic value, literature review, cooperative entrepreneurship, social and solidarity economy, identité coopérative., gouvernance participative, valeur sociale, valeur économique, revue de littérature, entrepreneuriat social, entrepreneuriat coopératif, économie sociale et solidaire |
| Date: | 2025–07–26 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05196336 |
| By: | Hielscher, Stefan; Everding, Sebastian; Pies, Ingo |
| Abstract: | This discussion paper responds to the critique of our 2022 article "Ordo-Responsibility in the Sharing Economy: A Social Contracts Perspective" published in Business Ethics Quarterly. Ghirlanda and Sacconi (2024) argue that a properly understood version of constitutional contractarianism would favor platform cooperatives over commercial platforms. We respectfully disagree. Drawing on the ordonomic framework and Buchanan's contractarianism, we argue that commercial platforms provide a more efficient and legitimate governance model. Our reply addresses key methodological misunderstandings of social contract theory and substantiates our position with conceptual reasoning and empirical insights. |
| Abstract: | Dieses Diskussionspapier reagiert auf die Kritik an unserem 2022 veröffentlichten Beitrag "Ordnungsverantwortung in der Sharing Economy - Eine Perspektive der Gesellschaftsvertragstheorie" (Business Ethics Quarterly). Ghirlanda und Sacconi (2024) vertreten die These, dass eine korrekt verstandene Version des konstitutionellen Kontraktualismus Genossenschaftsmodelle gegenüber kommerziellen Plattformen präferieren müsste. Wir halten dagegen: Aus ordonomischer Sicht sind kommerzielle Plattformen in normativer wie funktionaler Hinsicht überlegen. Unsere Erwiderung klärt methodologische Missverständnisse über die Theorie des Gesellschaftsvertrags auf und belegt unsere ordonomische These mit theoretischen und empirischen Argumenten. |
| Keywords: | Ordonomics, Sharing Economy, Platform Cooperatives, Commercial Platforms, Governance, Constitutional Contractarianism, Social Contract Theory, Ordo-Responsibility, Theory Competition, Ordonomik, Sharing Economy, Plattformgenossenschaften, Kommerzielle Plattformen, Governance, Konstitutioneller Kontraktualismus, Gesellschaftsvertragstheorie, Ordnungsverantwortung, Theorienwettbewerb |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:mlucee:323213 |
| By: | Pies, Ingo |
| Abstract: | Dieser Beitrag stellt das ordonomische Forschungsprogramm vor und erläutert seine methodologischen Wurzeln. Gezeigt wird, wie sich eine deutschsprachige Traditionslinie von der Ordnungsökonomik über die Ordnungsethik bis hin zur Ordonomik entwickelt hat. Die Ordonomik integriert zentrale Ideen ihrer Vorläufer zu einer Theorie gesellschaftlicher Lernprozesse, die Institutionen und Ideen als Schlüsselgrößen betrachtet. Durch ein Drei-Ebenen-Modell werden Zusammenhänge zwischen Regelbefolgung, Regelsetzung und Regelfindung analysiert. Ziel ist eine funktionale Indienstnahme systemischer Sachzwänge zur Verwirklichung moralischer Anliegen. Fallstudien demonstrieren praktische Anwendungen der ordonomischen Institutionen- und Ideen-Ethik. |
| Abstract: | This article introduces the ordonomic research program and explains its methodological roots. It shows how a German-speaking line of tradition has developed from order economics (Ordnungsökonomik) through order ethics (Ordnungsethik) to ordonomics (Ordonomik). Ordonomics integrates central ideas of its predecessors into a theory of societal learning processes, which regards institutions and ideas as key variables. Using a three-level model, the connections between rule-following, rule-setting, and rule-finding are analyzed. The aim is a functional utilization of systemic constraints for the realization of moral desiderata. Case studies demonstrate practical applications of the ordonomic approach to institutional and ideational ethics. |
| Keywords: | Ordnungsökonomik, Ordnungsethik, Ordonomik, Moralparadoxon der Moderne, gesellschaftliche Lernprozesse, Institutionenethik, Ideenethik, Ordnungsverantwortung, Moral als Produktionsfaktor, Monstrositäts-Imagination, verordnete Schizophrenie, order economics, order ethics, ordonomics, moral paradox of modernity, societal learning processes, institutional ethics, ideational ethics, ordo responsibility, moralcommitments as a factor of production, monstrosity imagination, mandated schizophrenia |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:mlucee:323214 |
| By: | Ghizlan El Abassi (LESCP - Laboratoire d'Études Sociales, Culturelles et Philosophiques - FLSHDM - Faculté Des Lettres Et Des Sciences Humaines Dhar El Mehraz - Fès); Soufiane Boutaleb (LERES - Laboratoire Etudes et Recherches Economiques et Sociales - FSJES - Faculté des Sciences Juridiques, Economiques et Sociales - Meknès) |
| Abstract: | The Social and Solidarity Economy (SSE) in Morocco is experiencing significant growth, contributing to more inclusive and sustainable economic development by emphasizing solidarity, cooperation, and human capital valorization. However, the Moroccan SSE faces several challenges, including legal and regulatory issues, funding difficulties, a lack of visibility and social recognition, and precarious employment conditions. By investing in human capital and implementing effective human resource management policies, SSE organizations can foster social innovation, positive-impact entrepreneurship, and the creation of sustainable and inclusive economic models. Optimal human resource management within cooperatives can notably help prevent professional precariousness among workers and strengthen professional resilience by promoting the development of innovative and sustainable initiatives. This qualitative study aims to deepen the understanding of professional precariousness within the Moroccan SSE, specifically focusing on artisanal rug and "Hanbal" cooperatives in the RabatSalé-Kénitra region. Through semi-structured interviews, the research analyzes the human resource management practices and the structural challenges faced by these organizations, despite the SSE's contribution to inclusive development. The primary findings highlight crucial issues related to governance, financing, visibility, and legislation, all of which directly impact employment stability. This research thus offers a novel perspective on the mechanisms of precarization within the cooperative sector and proposes considerations for strengthening professional security within the Moroccan SSE. |
| Abstract: | L'Économie Sociale et Solidaire (ESS) au Maroc est en plein essor, contribuant à un développement économique plus inclusif et durable en mettant l'accent sur la solidarité, la coopération et la valorisation du capital humain. Les défis auxquels l'ESS marocaine est confrontée comprennent des problèmes légaux et réglementaires, des difficultés de financement, un manque de visibilité et de reconnaissance sociale, ainsi que des emplois précaires. L'investissement dans le capital humain, en mettant en place des politiques de gestion des ressources humaines efficaces, les organisations de l'ESS visent l'innovation sociale, l'amélioration de l'esprit entrepreneurial et la création d'une économie durable et inclusive. Une GRH optimale dans les coopératives peut contribuer à anticiper la précarité des travailleurs et renforcer la résilience professionnelle en favorisant le développement d'initiatives novatrices et durables. Afin d'approfondir la compréhension de la précarité professionnelle dans les organisations de l'ESS marocaine, cette étude qualitative se concentre sur les coopératives artisanales de tapis et de "Hanbal" de la région de Rabat-Salé-Kénitra. À travers des entretiens semi-directifs, elle analyse les pratiques de gestion des ressources humaines et les défis structurels auxquels sont confrontées ces organisations, malgré la contribution de l'ESS au développement inclusif. Les résultats tirés de cette recherche mettent en évidence des enjeux liés à la gouvernance, au financement et à la législation, qui impactent directement la stabilité de l'emploi dans le secteur coopératif. Cette recherche offre une analyse originale des mécanismes de précarité professionnelle dans le secteur coopératif et propose des réflexions pour renforcer la sécurité professionnelle au sein de l'ESS marocaine. |
| Keywords: | African Scientific Journal, Precarious Employment, Social Solidarity Economy, human resource management, Précarité professionnelle, Economie sociale et solidaire, gestion des ressources humaines |
| Date: | 2025–07–15 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05188512 |
| By: | Woodgate, Ryan |
| Abstract: | This paper develops a novel conflict inflation model to unify the analysis of stable and explosive inflation dynamics, addressing a central theoretical divide in the literature. After providing explicit foundations for wage and price setting behaviour, it is shown that inflation expectations interact multiplicatively with the aspiration gaps of workers and firms rather than add linearly to them as in previous models. As aspiration gaps grow and inflation rises, the conflicting claims of workers and firms accelerate rather than rise steadily. This is reflected in nonlinear wage and price inflation curves whose vertical asymptotes reflect what we call the barrier wages of workers and firms-the critical values of the real wage at which workers and firms are able to resist any further increases in their aspiration gap by matching any rate of inflation. Stable inflationary-distributional outcomes follow only when the barrier wage of workers remains below that of firms. Runaway exchange rate depreciation caused by a balance-of-payments crisis is shown to lead to the collision of barrier wages and thus hyperinflation within the model in a way that is fully consistent with some stylised facts of hyperinflation. The model thus explains how explosive inflation may take hold, what the limits to stable distributional outcomes are, and how a stable inflation regime may evolve into an unstable one, all while maintaining the parsimony of the simple linear conflict inflation models. |
| Keywords: | Inflation, distribution, stability, hyperinflation, balance of payments |
| JEL: | D33 E31 E12 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ipewps:323942 |
| By: | Henrekson, Magnus (Research Institute of Industrial Economics (IFN)); Jonung, Lars (Department of Economics, Lund University); Lundahl, Mats (Development Economics, Stockholm School of Economics) |
| Abstract: | We explore the challenges facing the current academic training of economists in small European countries like Sweden. The monolithic focus on publishing in the top-five journals, which prioritizes methodological rigor over problem-driven research, is often a threat to social relevance and policy applicability. This limits pluralism, excludes many talented economists, and fails to prepare graduates for non-academic positions. We propose a two-track model for PhD training and academic evaluation, emphasizing both traditional research and applied economic policy, tailored to the diverse needs of academia, public administration and business sectors. We also argue for broader evaluation criteria, enhanced interdisciplinary collaboration, and institutional reforms, including trial lectures and specialized research institutes. By diversifying incentives, we recommend a shift towards socially relevant and more inclusive education and practice in the discipline of economics. |
| Keywords: | Criteria for hiring and promotion; European economics; Pluralism; Research productivity |
| JEL: | A11 A14 I23 J44 J62 |
| Date: | 2025–08–11 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:iuiwop:1530 |
| By: | Loubna Akhayad (ESSDL, FSJES, UMPO - Laboratoire ESSDL, faculté des sciences juridiques economique et sociale , UMP oujda); Nadir Elboubkari |
| Abstract: | The social and solidarity economy (SSE) in Morocco is regarded as an essential mechanism for socio-economic advancement, particularly in rural locales and among underprivileged demographics. Comprising a multitude of entities, including cooperatives and social enterprises, SSE endeavors to address local demands while simultaneously generating socio-environmental advantages. It serves a pivotal function in combating poverty, fostering employment, and promoting social cohesion. Nonetheless, within an economic landscape characterized by persistent crises, SSE stakeholders encounter considerable financial impediments that jeopardize their viability and long-term sustainability.Among the principal challenges are economic restructuring, the curtailment of public expenditure, and the scarcity of private financial resources. According to the World Bank, these obstacles impede access to essential financial assistance for SSE initiatives, thereby compromising their capacity to flourish. Furthermore, the complications associated with leveraging traditional financing avenues and the unconventional business paradigms of SSE entities exacerbate their engagement with conventional financial instruments.This article conducts an examination of the financial challenges confronting SSE in Morocco, concentrating on immediate issues as well as systemic factors such as the regulatory framework and the deficiency of investor cognizance. It also proffers innovative strategies and public-private partnerships that have the potential to enhance access to financial resources for these initiatives.The central inquiry of the article pertains to how SSE initiatives in Morocco can surmount financial hurdles amidst a challenging economic environment. Analyzing these dynamics and the proposed remedies underscores the critical significance of SSE in the pursuit of a sustainable and equitable future for Moroccan communities |
| Abstract: | L'économie sociale et solidaire (ESS) dans le contexte marocain est considérée comme un instrument essentiel pour le progrès socio-économique, en particulier dans les zones rurales et parmi les groupes démographiques défavorisés. Incorporant un large éventail d'entités telles que des coopératives et des entreprises sociales, l'ESS s'efforce de répondre aux demandes locales tout en générant des avantages socio-environnementaux. Il joue un rôle central dans la lutte contre la pauvreté, la promotion des opportunités d'emploi et la facilitation de l'intégration sociale. Néanmoins, dans un contexte économique marqué par des crises récurrentes, les acteurs de l'ESS rencontrent d'importants obstacles financiers qui mettent en péril leur viabilité et leur durabilité à long terme.Parmi les principaux défis figurent la restructuration économique, la réduction des dépenses publiques et la rareté des ressources financières privées. Comme l'indique la Banque mondiale, ces contraintes entravent l'accès à un soutien financier essentiel pour les initiatives de l'ESS, diminuant ainsi leur potentiel de croissance. En outre, les complexités inhérentes à l'exploitation des sources de financement traditionnelles et les paradigmes commerciaux non conventionnels des entités de l'ESS exacerbent leur engagement envers les instruments financiers conventionnels.Cet article analyse les obstacles financiers auxquels l'ESS est confrontée au Maroc, en se concentrant sur les défis immédiats ainsi que sur des facteurs systémiques tels que le paysage réglementaire et le manque de connaissance des investisseurs. En outre, il propose des méthodologies innovantes et des partenariats public-privé qui pourraient améliorer l'accès aux ressources financières pour ces initiatives.L'enquête centrale de l'article porte sur les mécanismes par lesquels les initiatives de l'ESS au Maroc peuvent surmonter les obstacles financiers dans un environnement économique difficile. L'exploration de ces dynamiques et des solutions proposées souligne l'importance cruciale de l'ESS pour favoriser un avenir durable et équitable pour les communautés marocaines. |
| Date: | 2025–05–26 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05170271 |
| By: | Charalampos Kleitsikas; Stefanos Leonardos; Carmine Ventre |
| Abstract: | Financial models do not merely analyse markets, but actively shape them. This effect, known as performativity, describes how financial theories and the subsequent actions based on them influence market processes, by creating self-fulfilling prophecies. Although discussed in the literature on economic sociology, this deeply rooted phenomenon lacks mathematical formulation in financial markets. Our paper closes this gap by breaking down the canonical separation of diffusion processes between the description of the market environment and the financial model. We do that by embedding the model in the process itself, creating a closed feedback loop, and demonstrate how prices change towards greater conformity to the prevailing financial model used in the market. We further show, with closed-form solutions and machine learning, how a performative market maker can reverse engineer the current dominant strategies in the market and effectively arbitrage them while maintaining competitive quotes and superior P&L. |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2508.04344 |