nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2023‒07‒31
five papers chosen by
Karl Petrick
Western New England University

  1. Sraffa and the ‘slogans not used’ By Fratini, Saverio Maria; Ravagnani, Fabio
  2. Uma Jornada pelo Tempo: Explorando a História do Pensamento Econômico By da Silva, Breno Nery
  3. Vision and Analysis in Schumpeter’s Theory: A Reappraisal in Economic Philosophy By Tristan VELARDO
  4. Entrenchment, Wealth, Power, and the Constitution of Democratic Societies, by Paul Starr, New Haven, CT: Yale University Press. 2019. 280 pages, hardcover. By Krammer, Sorin
  5. For Whom the Bell Tolls: Climate Change and Income Inequality By Serhan Cevik, João Tovar Jalles

  1. By: Fratini, Saverio Maria; Ravagnani, Fabio
    Abstract: The two ‘slogans’ written by Sraffa in an early draft of the preface to his book (Sraffa Papers D3/12/43:1(3)) can be seen as the synthesis of a wider reasoning that he outlines in some manuscripts composed in 1955 and 1956. We rationalise this reasoning by three statements: A. The rate of profits manifests itself in the Standard system as the ratio of two well-defined quantities of Standard commodity; B. The rate of profits can be identified in the Standard system before knowing the prices of commodities; and C. The rate of profits emerging from the Standard system cannot be altered by ‘manipulations of prices’ and, for this reason, can be regarded as a non-price phenomenon. By discussing these statements in depth, we aim at shedding new light on the precise meaning of Sraffa’s slogans.
    Keywords: Sraffa; rate of profits; Standard commodity
    JEL: B24 B51 D33 D46
    Date: 2023
  2. By: da Silva, Breno Nery
    Abstract: Este artigo oferece um panorama abrangente da história do pensamento econômico, explorando as diferentes escolas de pensamento desde os tempos antigos até as teorias contemporâneas. São analisadas as contribuições de figuras proeminentes, como Adam Smith, Karl Marx, John Maynard Keynes e Friedrich Hayek, examinando suas teorias e ideias fundamentais. Além disso, são explorados os debates, controvérsias e influências políticas, sociais e tecnológicas que moldaram o pensamento econômico ao longo do tempo. O artigo discute as abordagens teóricas para explicar fenômenos econômicos, incluindo o liberalismo clássico, o marxismo, a economia neoclássica, a economia comportamental e outras correntes contemporâneas. Também são examinadas as maneiras pelas quais as ideias econômicas influenciaram as políticas públicas e os desdobramentos econômicos ao longo da história. Em suma, este artigo oferece uma visão panorâmica da história do pensamento econômico, destacando os principais pensadores, teorias e debates que moldaram a disciplina ao longo dos séculos. Ao demonstrar como essas ideias continuam a influenciar a economia moderna, busca-se fornecer uma compreensão abrangente e atualizada do pensamento econômico.
    Date: 2023–06–22
  3. By: Tristan VELARDO (CLERSÉ - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - CNRS - Centre National de la Recherche Scientifique)
    Abstract: In order to deal with the relationship between science and ideology, Schumpeter distinguishes the Vision, an "effort of pre-analytical knowledge" which is, by definition, historically and socially located and which constitutes a necessary step of the scientific procedure on which is based what Schumpeter calls the "Analysis". The Analysis is strictly scientific work and responds, as such, to a number of rules whose objective is to provide satis- factory solutions to the problems encountered. The rules of analytical pro- cedure would be a solution to prevent the analysis from ideological contamination. Schumpeter thus develops a positive conception of science which is expressed by the elimination of ideology and philosophy by mov- ing them back to a pre-analytical moment. This paper intends to use economic philosophy, first as a tool to make a critical appraisal of the distinction between Vision and Analysis in Schumpeter's work. Indeed, rather than reconstructing a Vision, which would be prior and separate from the Analysis, economic philosophy proposes to grasp the fundamental philosophical questions of economic theories. In doing so, this paper proposes, secondly, to apply the methods of economic philosophy to Schumpeter's work in order to introduce a new entry to his work: the philosophical question running thought his work, i.e. the emergence of novelty.
    Abstract: Afin de traiter des rapports entre science et idéologie, Schumpeter distingue la Vision, cet « effort de connaissance pré-analytique » qui, par définition, est historiquement et socialement situé et qui constitue une étape nécessaire de la procédure scientifique sur laquelle se bâtit ce qu'il appelle « Analyse ». L'analyse est le travail proprement scientifique et répond, à ce titre à un certain nombre de règles dont l'objectif est de fournir des solutions satisfaisantes aux problèmes posés. Les règles de procédure analytique seraient une solution pour prémunir l'analyse contre une contamination idéologique. Schumpeter développe une conception positive de la science qui s'exprime par l'élimination de l'idéologie et de la philosophie en les reculant dans un moment pré-analytique. Cet article propose une critique de la conception de la science économique de Schumpeter. Dans un premier temps, nous utiliserons la philosophie économique comme outil pour une critique de la séparation entre Vision et Analyse chez Schumpeter. Dans un second temps, nous appliquons les méthodes de la philosophie économique à l'œuvre de Schumpeter afin d'entrevoir une nouvelle porte d'entrée dans son œuvre, celle de la question philosophique originaire qui lui sert de leitmotiv : l'émergence de la nouveauté.
    Keywords: Schumpeter (Joseph A.), Vision, Analysis, Economic philosophy, Novelty, Schumpeter, Analyse, Philosophie économique, Nouveauté
    Date: 2021–12–01
  4. By: Krammer, Sorin
    Abstract: Why should we, as Management scholars and educators, care about a book on political diagnosis? The answer is twofold. First, the calibre of the author (Paul Starr), an awardee of both Bancroft and Pulitzer Prizes, a former policy advisor to the Clinton administration, and the author of The Transformation of American Medicine (1982), a book with a profound impact on American policy circles. Second, the core concept (entrenchment) of the book, and its potential to advance the process of institutional development, and the ways in which we can reform and change our institutions to better meet the current and pressing needs of the many, rather than preserve the unequal privileges of a few. In light of the geopolitical, social, and environmental pressures we see currently rising across the world (George, Howard-Grenville, Joshi & Tihanyi, 2016; Howard-Grenville, Buckle, Hoskins & George, 2014) there is no better time to examine whether and how we can address some of these grand challenges by reforming and improving our institutions.
    Keywords: entrenchment; institutions; crises; populism
    JEL: H00
    Date: 2023–01–23
  5. By: Serhan Cevik, João Tovar Jalles
    Abstract: Climate change is the defining challenge of our time with complex and evolving dynamics. The effects of climate change on economic output and financial stability have received considerable attention, but there has been much less focus on the relationship between climate change and income inequality. In this paper, we provide new evidence on the association between climate change and income inequality, using a large panel of 158 countries during the period 1995 – 2019. We find that an increase in climate change vulnerability is positively associated with rising income inequality. More interestingly, splitting the sample into country groups reveals a considerable contrast in the impact of climate change on income inequality. While climate change vulnerability has no statistically significant effect on income distribution in advanced economies, the coefficient on climate change vulnerability is seven times greater and statistically highly significant in the case of developing countries due largely to weaker capacity for climate change adaptation and mitigation. These findings are robust with alternative estimation methods and measures of income inequality, but it should be noted that the appropriate measurement of climate change vulnerability and resilience remains a challenge that imposes limits on empirical analysis.
    Keywords: Income inequality; climate change; vulnerability; resilience.
    JEL: C30 D30 E60 O10 Q54
    Date: 2023–06

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