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on Post Keynesian Economics |
| By: | IM, HYUN-NAM |
| Abstract: | This paper challenges the fundamental assumptions of mainstream economics, particularly the concept of Homo Economicus (the rational economic man) and the mathematical illusion of general equilibrium. By integrating Giambattista Vico’s cyclical philosophy of history with established economic theory, this treatise proposes a new ontological framework for understanding modern capitalism. First, this paper redefines human economic behavior not as rational choice, but as the dynamic interaction of an ontological triad structured around libido, anxiety, and sin. Second, it diagnoses the 21st century as the ‘Era of Grand Analogy’, in which physical imitation and administrative bureaucracy have given rise to a state of collective amorality (Søren Kierkegaard’s Åndløshed). Third, it deconstructs the ‘equal sign (=)’ of macroeconomics as a mere decalcomanic illusion created by densely aggregated data. Furthermore, it traces how this illusion solidified into a natural theory in tandem with the exponential expansion of currency, population, and administration, thereby exposing it as a mechanism that conceals the ‘legalized plunder’ perpetrated by vested interests. In particular, this paper rejects the conventional, dry mathematical style of academic writing, instead adopting a metaphorical and literary mode of exposition that embeds Vico’s cyclical philosophy of history into the very structure of the text itself. Ultimately, this paper argues that economics must be understood as fundamentally distinct from Platonic political idealism; rather, it is the immanent law of the masses—a living embodiment of Vico’s principle verum ipsum factum (the truth is what is made). It concludes that the resolution to the modern structural crisis lies not in the mechanical adjustment of economic variables, but rather in the restoration of Aristotelian ethics and authentic education. |
| Keywords: | Giambattista Vico, Legalized Plunder, Era of Grand Analogy, Aristotelian Ethics, Ontological Triad. Heterodox Economics, Macroeconomic Theory. |
| JEL: | B41 E32 K00 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:128737 |
| By: | Ewa Weychert (University of Warsaw, Faculty of Economic Sciences); Tomasz Kopczewski (University of Warsaw, Faculty of Economic Sciences) |
| Abstract: | Students of introductory economics courses pointed out that economic inequality the most significant challenge in the 21st century (Bowles & Carlin, 2020). However, there is limited research on how this issue is portrayed in introductory textbooks. Our study aims to investigate the presentation of economic inequality in economics textbooks compared to sociological ones. We conduct a mixed-method study to examine differences in how introductory economics and sociology textbooks portray economic inequality. By focusing on the comparison between economic and sociological textbooks, we aim to highlight the importance of an interdisciplinary approach to studying economic inequalities, as advocated by economist Thomas Piketty (Korom, 2019). Comparing textbooks across disciplines is essential for informing curriculum development, encouraging interdisciplinary learning, and enhancing the relevance of education to real-world issues. This comparison provides insights that help integrate diverse perspectives on economic inequality into educational practices in both disciplines. Our analysis includes twelve introductory economics textbooks and three introductory sociological textbooks. We find significant differences: top-selling economics textbooks focus on statistical measurements of inequality and the trade-off between equality and efficiency, while sociological textbooks consider economic inequality from historical, cultural, and philosophical perspectives. |
| Keywords: | income inequality, wealth inequality, textbook analysis, narrative economics, qualitative research |
| JEL: | A23 D63 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:war:wpaper:2026-10 |
| By: | Charles W. Calomiris; Matthew S. Jaremski |
| Abstract: | Financial crises remain a recurrent feature of modern economies despite evidence that many are predictable and preventable. This chapter discusses how financial instability often reflects a political equilibrium rather than purely technocratic shortcomings. Contrasting economic and political perspectives on regulation, the chapter emphasizes how policymakers shape financial rules in ways that favor politically-influential groups but result in financial vulnerability. Key mechanisms include restricted bank chartering, safety nets, credit subsidies, and sovereign borrowing. Political forces also shape crisis management. Delayed interventions, selective support, and constrained policy responses can deepen and prolong crises. Together, these dynamics help explain the persistent and foreseeable nature of financial instability across time, legal origins, political structures, and institutional contexts. Instead of seeing financial crises as arising from an unavoidable vulnerability to external shocks they are better seen as a mirror of the societies in which they occur, reflecting their political structures, vying constituencies, cultural preferences, and blind spots. |
| JEL: | E44 F34 G01 H12 N1 N2 P16 |
| Date: | 2026–04 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35101 |
| By: | Aderinwale, Zainab Adewunmi; Majeed, Ajibade Ojo; Nwude, Chukwuma |
| Abstract: | In accessing financial capital and sustaining their businesses, minority women entrepreneurs in the United States confront structural barriers. These barriers are influenced by interconnected structural factors, such as systems of residential estate management, opportunities for educational and leadership, and broader economic frameworks. This research explores how these structural areas enable or impede financial access and entrepreneurial resilience. Drawing on the theory of intersectionality, empirical data from U.S. entrepreneurial studies, and a framework for economic justice, the article investigates (1) how estate and housing policies influence access to networks and resources; (2) the role of education and leadership pathways in equipping minority women for competitive business environments; and (3) how economic systems perpetuate or dismantle barriers to capital. The paper contends that addressing financial exclusion necessitates an integrated strategy that takes into account the spatial, educational, and economic determinants of entrepreneurship. Keywords: minority women, entrepreneurs, Estate Management, Education, Leadership, Financial access, Economic system. |
| Date: | 2026–04–14 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:5znsf_v1 |
| By: | Severin Hornung (University of Innsbruck, Department of Psychology, Innsbruck, Austria) |
| Abstract: | This contribution provides an update on developments within the social science discipline of applied psychology. Precisely, it offers an account of the emergence of a critical scholarly paradigm in work and organizational psychology. Introduced and advocated for in recent publications, this new direction has sparked intense debates about its necessity, scientific value, and legitimacy. Disciplinary roots, paradigmatic principles, and ontological, epistemological, and axiological premises of critical perspectives in applied psychology are recapitulated. This includes their critique of conventional or mainstream work and organizational psychology, as well as complex relationships with the previously institutionalized stream of critical management studies. Progress in critical applied psychology is mapped out, giving an overview of foundational academic events and activities as well as the growing body of publications, structured into distinct waves, including information on research topics and geographic strongholds. Academic criticisms of the critical paradigm by proponents of the mainstream are reviewed, focusing on its distinctiveness, scientific rigor, and communication style. Drawing on theorizing in philosophy of science and the history of critical movements in other fields of social science, possible future trajectories are speculated about, including paradigmatic consolidation, integration, and fragmentation. Despite the momentum of the current version of critical perspectives in applied psychology, the track record of critical movements in the social sciences is modest and includes the risk of becoming a victim of one’s own success. Pitfalls and possible ways to avoid them are discussed and recommendations for scholars seeking to ‘criticalize’ their research are developed. |
| Keywords: | Academic Movements, Critical Work, Organizational Psychology, Engaged Scholarship, Epistemological Critique, Higher Education, Research Paradigms, Philosophy of Science |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:smo:raiswp:0626 |
| By: | Darrell Norman Burrell (Marymount University, USA); Allison J. Huff (The University of Arizona, USA); Delores Springs (Capitol Technology University, USA); Quatavia McLester (Columbus State University, USA); Daphnee Labidou-West (Marymount University, USA); Won Song (Capitol Technology University, USA) |
| Abstract: | This commentary examines the structural roots and consequences of racial bias in healthcare technology and the persistent underrepresentation of racial and ethnic minorities in clinical research. While medical technologies are often framed as objective and scientifically neutral, this paper argues that they are embedded within broader social, historical, and institutional contexts that shape their development and application. Empirical evidence demonstrates that widely used diagnostic tools, such as pulse oximeters and infrared thermometers, can produce systematically biased readings across racial groups, leading to clinically significant disparities in diagnosis and treatment. Concurrently, clinical trials continue to disproportionately enroll White participants, limiting the generalizability and validity of medical knowledge for diverse populations. The analysis integrates perspectives from social psychology and systems thinking to illustrate how mistrust, implicit bias, historical injustice, and institutional design collectively reinforce inequitable outcomes. These issues are not isolated technical flaws but interconnected failures spanning research design, regulatory oversight, industry incentives, and community engagement. As a result, healthcare systems risk institutionalizing error while perpetuating unequal risk distribution. The paper argues that meaningful reform requires a comprehensive systems-based approach, including regulatory accountability, inclusive research practices, culturally competent methodologies, and sustained community partnerships. Addressing these challenges is essential not only for improving scientific rigor but also for restoring public trust and advancing health equity. Ultimately, the paper positions equity as a foundational requirement for both ethical legitimacy and effective healthcare delivery in diverse societies. |
| Keywords: | Healthcare Equity, Racial Bias, Healthcare Technology, Biotechnology, Clinical Trials, Health Disparities, Health Administration, Medical Device Development, Healthcare Research |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:smo:raiswp:0628 |