nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2020‒09‒07
eight papers chosen by
Karl Petrick
Western New England University

  1. COVID-19, Race, and Redlining By Bertocchi, Graziella; Dimico, Arcangelo
  2. Piero Sraffa and Raffaello Piccoli, two Italian Scholars in Cambridge in 1929-1932 By Morra, Lucia
  3. History as Evolution By Nathan Nunn
  4. State-market-society alliance: The evolving nature of the '21st century developmental state' By Pui Yi Wong
  5. The myth of global sustainability : Environmental limits and (de)growth in the time of SDGs By Arsel, M.
  6. Searching for an alternative economic model By Rodrik, Dani; Perez, Carlota; Nesvetailova, Anastasia; Harris, Donald J.; Macfarlane, Laurie; Perrons, Diane
  7. Beautiful Experiments in Teaching Freedom: Collectivist Conceptions of Interdependence in the Discussion of Liberatory Teacher-Student Trust By Nirel JonesMitchell
  8. El Keynesianismo y la Gran Depresión: Un Análisis Comparativo de la Experiencia de Alemania, EE.UU. y Gran Bretaña entre 1930 y 1937 By Emilio Ocampo

  1. By: Bertocchi, Graziella (University of Modena and Reggio Emilia); Dimico, Arcangelo (Queen's University Belfast)
    Abstract: Discussion on the disproportionate impact of COVID-19 on African Americans has been at center stage since the outbreak of the epidemic in the United States. To present day, however, lack of race-disaggregated individual data has prevented a rigorous assessment of the extent of this phenomenon and the reasons why blacks may be particularly vulnerable to the disease. Using individual and georeferenced death data collected daily by the Cook County Medical Examiner, we provide first evidence that race does affect COVID-19 outcomes. The data confirm that in Cook County blacks are overrepresented in terms of COVID-19 related deaths since – as of June 16, 2020 – they constitute 35 percent of the dead, so that they are dying at a rate 1.3 times higher than their population share. Furthermore, by combining the spatial distribution of mortality with the 1930s redlining maps for the Chicago area, we obtain a block group level panel dataset of weekly deaths over the period January 1, 2020-June 16, 2020, over which we establish that, after the outbreak of the epidemic, historically lower-graded neighborhoods display a sharper increase in mortality, driven by blacks, while no pre-treatment differences are detected. Thus, we uncover a persistence influence of the racial segregation induced by the discriminatory lending practices of the 1930s, by way of a diminished resilience of the black population to the shock represented by the COVID-19 outbreak. A heterogeneity analysis reveals that the main channels of transmission are socioeconomic status and household composition, whose influence is magnified in combination with a higher black share.
    Keywords: COVID-19, deaths, blacks, redlining, vulnerability, Cook County, Chicago
    JEL: I14 J15 N32 N92 R38
    Date: 2020–07
  2. By: Morra, Lucia (University of Turin)
    Abstract: Sraffa’s diaries report that from June 1929 until late 1932 he often met with the literary scholar, poet and philosopher Raffa-ello Piccoli, Serena Professor of Italian at the University of Cambridge. After a sketchy biography of Piccoli, the essay recon-structs the story of their friendship, thus contributing to the reconstruction of Sraffa’s biography in 1929-1932; it pauses along the way on their meetings with Carlo Rosselli in 1929-1931 and on their common friendship with Ludwig Wittgen-stein.
    Keywords: Piero Sraffa; Raffaello Piccoli; Carlo Rosselli; Ludwig Wittgenstein.
    JEL: B31
    Date: 2020–08–31
  3. By: Nathan Nunn
    Abstract: In this chapter, I consider the benefits of viewing history through an evolutionary lens. In recent decades, a field of research has emerged, which builds on foundations from biological evolution to study culture within an evolutionary framework. I begin the chapter by discussing the theory behind cultural evolution and the empirical evidence supporting its ability to explain the history of human societies. I then turn to a discussion of how an evolutionary perspective provides important insights into a range of phenomena within economics, including a deeper understanding of human capital, innovation, gender roles, the consequences of warfare, the effects of market competition, why we observe historical persistence and path dependence, and, most importantly, why sustained economic growth is often so elusive. I end by turning to a summary of a growing body of research within economics that has made progress in improving our understanding of cultural evolution and, thus, contributing to evolutionary disciplines outside of economics.
    JEL: C73 N01 N10 Z1
    Date: 2020–08
  4. By: Pui Yi Wong
    Abstract: While mainstream economics since the 1980s has been largely characterized by neo-liberal ideology, the past decade witnessed the rise of nationalism and protectionist policies globally. The latest COVID-19 pandemic has further refocused attention on the crucial roles played by effective states in protecting public welfare and a working economy. This literature review traces the 'developmental state' paradigm as it evolved from the classical developmental state model into the 21st-century developmental state.
    Keywords: developmental state, market, society, literature review
    Date: 2020
  5. By: Arsel, M.
    Abstract: The elevation of sustainability from being one of the more peripheral goals in the MDGs to titular status in the SDGs could be interpreted as a sign that the international development sector has finally recognized the gravity of the ecological challenge facing humanity. Similarly, the geographic and conceptual shift from the MDGs’ focus on the developing world to SDGs’ global framing could be read as an acknowledgement that sustainability is not a problem that needs to be tackled ‘out there’ but systemic in nature. Nevertheless, the paper argues that the SDGs are unlikely to bring about the necessary transformations as long as the primacy of economic growth is not challenged. This cannot be achieved by simply recognizing the validity of environmental limits and adapting a degrowth position. It is also necessary to recognize that transformation to sustainability is inherently a conflictual process.
    Keywords: Sustainable Development Goals, limits, degrowth, environmental conflict, Earthrise
    Date: 2020–08–20
  6. By: Rodrik, Dani; Perez, Carlota; Nesvetailova, Anastasia; Harris, Donald J.; Macfarlane, Laurie; Perrons, Diane
    Abstract: Responses to the IPPR Commission on Economic Justice
    JEL: N0
    Date: 2018–09–21
  7. By: Nirel JonesMitchell (Claremont McKenna College, Claremont, CA, USA)
    Abstract: Top researchers in the field of critical pedagogy signify that trust literally liberates the brain from fear. This allows for student creativity and higher-order thinking; without cultural awareness and empathy, researchers claim, educational apartheid in inner-city public schools will persist. American notions of ‘proper’ teacher-student dynamics are contextualized by the political philosopher John Locke who delineated a framework dismissive of relational interdependence. Thus, within domestic pedagogical scholarship, collectivist conceptions of teacher-student relationships, congruent with African American collectivist cultural understandings, remain largely unexplored. At first glance, consideration of political philosophy seems peculiar. This perspective, however, is not only compatible--but critical; interpretations of the intersections between political theory and pedagogical analysis are necessary to move beyond mediating the effects of marginalization towards addressing theories surrounding interrelationship and their exclusion from academia, throughout history and today. The following analysis briefly discusses Afro Cuban notions of collectivism, particularly relevant because of their ties to socialist ideologies--opposite of John Locke’s economic outlook. It then interprets texts from ancient KMT, “The Satire of the Trades†and “Instruction of Ptahhotep,†in order to articulate the specific definitions of connection that evade modern educational discourse. This research is imperative; effective pedagogy within classrooms will both reduce crime--as is indicated by the realities of the school to prison pipeline--and produce adults prepared and willing to eradicate other crises in American society.
    Keywords: Ptahhotep, Jose Martí, political theory, education, inner-city youth
    Date: 2020–04
  8. By: Emilio Ocampo
    Abstract: Existe una noción bastante generalizada, incluso entre economistas e historiadores, que las naciones más industrializadas del planeta –Alemania, Estados Unidos y Gran Bretaña– lograron salir de la Gran Depresión gracias a políticas de expansión del gasto público y el déficit preconizadas por John Maynard Keynes. Esta noción no se sustenta en la evidencia. En primer lugar, las políticas empleadas por estos tres países entre 1930 y 1937 fueron heterogéneas y sus resultados significativamente distintos. En segundo lugar, en Estados Unidos, las políticas de expansión del gasto e intervención en los mercados, que podrían describirse genéricamente como keynesianas, retardaron la recuperación económica en vez de alentarla. En tercer lugar, los mejores resultados macroeconómicos se obtuvieron en Gran Bretaña donde el gobierno siguió una política de austeridad fiscal con fuerte expansión monetaria. El objetivo del presente trabajo es sustentar estas conclusiones con un análisis comparativo de las políticas aplicadas y resultados obtenidos en Alemania, Estados Unidos y Gran Bretaña entre 1930 y 1937.
    Keywords: Keynes, Gran Depresión, Austeridad, Déficit, Políticas Anti-cíclicas
    JEL: E3 J3 N1
    Date: 2020–08

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