nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2007‒11‒03
three papers chosen by
Karl Petrick
University of the West Indies

  1. What Professor Rodrik Means by Policy Reform: Appraising a Post-Washington Paradigm By Derek Headey
  2. China-Africa’s Emerging Economic Links: A review under the Core-Periphery perspective By Maswana, Jean-Claude
  3. How to be an Ecological Economist By Malte Faber

  1. By: Derek Headey (CEPA - School of Economics, The University of Queensland)
    Abstract: This article reviews Professor Dani Rodrik’s work on growth and development. The review first provides an outline of Rodrik’s critique of the Washington Consensus and his alternative ‘post-Washington’ paradigm for formulating and implementing growth strategies. The remainder of the paper then critically assesses some key elements of this alternative vision for development. In particular, the critical analysis focuses on Rodrik’s institutionalist revision of the existing growth evidence, his proposed changes to the way in which economists formulate policies in a post-Washington era, and his call for greater democratization as a universal institutional reform.
    Date: 2007
  2. By: Maswana, Jean-Claude
    Abstract: This essay has explored the validity of Marxist dependency theories in the context of the emerging China-Africa trade and economic relations. Whereas dependency theory assumes that economic domination runs across north-south geoeconomic patterns, this discussion has shown that the China-Africa economic links represent a distinct south-south dialectic occurring in an emerging new global economic configuration marked by a technology gap. Therefore, the discussion fails to support the idea that China’s involvement in Africa is of a conventional center-periphery type; which suggests the existence of nonexploitative, tough dependent, trade features. This dependence implies that external factors and decisions (included those related to China) also determine the real level of development in the Africa. Also worth mentioning is that for the first time Africa is drastically shifting its trade pattern away from its colonial framework: it too is becoming linked to a rapidly changing economy. Such a shift means that China’s own constant economic and social structural changes make it easy for Africa to adjust to the emerging new global economic order. At the same time, the China-Africa relationship is marked by unavoidable dialectic tensions like labor and competition issues. Even though synergies can be created by considering China’s legitimate interests in Africa and Africa’s own legitimate rights, no matter how well-intentioned China is, Africa must still generate its own technological capacities and rid itself of its legendary rampant corruption. Thus, both sides must admit that there will be no long-run benefit unless each contributes to the emergence of a new economic configuration that is deeply rooted not in mutual but in common or joint interests.
    Keywords: China; Africa; Dependency theories; Economic Development; Globalization
    JEL: O19 F59
    Date: 2007–10–28
  3. By: Malte Faber (University of Heidelberg, Department of Economics)
    Abstract: To answer the question "How to be an Ecological Economist", we must start by defining the field of Ecological Economics. Mainstream Economics altogether lacks the concepts required to deal adequately with nature, justice and time. It was the absence of these three concepts in this otherwise great social science that led to the establishment of Ecological Economics. The interest in nature, justice and time is its defining characteristic. The main thesis of this paper is that our field is a fragile institution and that the professional existence of an ecological economist is no less fragile. However, this very fragility also represents freedom, scope for free thinking, conceptualising and research. Nevertheless, to be able to really use and in turn enjoy the full scope of this freedom, an ecological economist needs certain specific characteristics, in particular what is termed in the German philosophical tradition "Urteilskraft" and in English "power of judgement". A description of these characteristics is developed in this paper, providing an answer to the question "How to be an ecological economist?"
    Keywords: ecological economics; mainstream economics; political economy; nature; justice; time; growth; power of judgement
    JEL: A10 A12 A13 B10 Q00 Q57 O40
    Date: 2007–10

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