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on Heterodox Microeconomics |
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Issue of 2018‒07‒23
twenty papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Guglielmo Chiodi (Sapienza University of Rome (IT)) |
| Abstract: | The standpoint of the old classical economists as well as of Marx “has been submerged and forgotten since the advent of the ‘marginal’ method” – to borrow Sraffa’s own words. The neoclassical (or ‘marginal’) paradigm, in fact, triumphantly dominated over the twentieth century (and is still dominating even now). A serious step towards the rehabilitation of the paradigm of the old classical economists was made by Sraffa (1951) with his remarkable ‘Introduction’ to Ricardo’s Principles, his seminal 1960 book Production of Commodities by Means of Commodities (PCMC) followed a few years later, as a logical completion of his long-standing work. The paper here proposed argues that Sraffa’s 1960 contribution has so far been mainly interpreted and used as a highly powered tool for destroying the foundations of neoclassical theory from a logical point of view, with the confident belief that attacking the logical side of the theory would have been sufficient to bring about its definite dismissal, which, instead, did not happen. As a consequence of all this, the revival of the classical economists and of Marx – which is one of the most characterizing feature of Sraffa’s 1960 contribution – was automatically silenced and this very fact precluded Sraffa’s theoretical framework from being used in a constructive way as a real alternative ‘vision’ to that proposed by the neoclassical market-centered paradigm. The aim of the paper is to underscore the crucial importance of Sraffa’s revival referred to above, by emphasizing its usefulness in providing a genuine alternative perspective and a radically different representation of the economy, compared with that provided by neoclassical theory. An attempt will be made to show the main features of the Sraffian framework in providing such an alternative ‘vision’ which, it will be argued, is now much needed, not least for suggesting far more sensible alternative economic policies than those so far pursued in the ceaseless turmoil of present day world economies. |
| Keywords: | Adam Smith, Ricardo, Marx, Sraffa. |
| JEL: | A10 B12 B14 B24 B51 |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:saq:wpaper:4/18&r=hme |
| By: | Fratini, Saverio M. |
| Abstract: | The neo-Austrian average period of production is calculated by taking the shares of costs referable to each period out of the total amount of costs as weights. Once this notion had been introduced, its inverse relationship with the rate of interest prompted some scholars to believe that it could serve as a good measure of capital intensity. As will be shown, however, this new average period poses some problems. On the one hand, the inverse relationship mentioned above does not preclude the re-switching of production methods. On the other, if re-switching occurs, the most roundabout method may paradoxically be the one that gives the smallest net output per worker. This result can affect the revival of the Austrian business-cycle theory. |
| Keywords: | average period of production; degree of roundaboutness; capital; re-switching; Austrian business-cycle theory |
| JEL: | B25 B53 D24 D33 E32 |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:87306&r=hme |
| By: | Quentin Lippmann (PSE - Paris School of Economics, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique); Claudia Senik (PSE - Paris School of Economics, UP4 - Université Paris-Sorbonne, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper argues that the socialist episode in East Germany, which constituted a radical experiment in gender equality in the labor market and other instances, has left persistent tracks on gender norms. We focus on one of the most resilient and pervasive gender gaps in modern societies: mathematics. Using the German division as a natural experiment, we show that the underperformance of girls in math is sharply reduced in the regions of the former GDR, in contrast with those of the former FRG. We show that this East-West difference is due to girls' attitudes, confidence and competitiveness in math, and not to other confounding factors, such as the difference in economic conditions or teaching styles across the former political border. We also provide illustrative evidence that the gender gap in math is smaller in European countries that used to be part of the Soviet bloc, as opposed to the rest of Europe. The lesson is twofold: (1) a large part of the pervasive gender gap in math is due to social stereotypes; (2) institutions can durably modify these stereotypes. |
| Keywords: | Gender Gap in Math,Institutions,German Division,Gender Sterotypes |
| Date: | 2018–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01387272&r=hme |
| By: | Jeri, Ramsito |
| Abstract: | Al-Ghazali is a scholar whose ideas are concerned with the state of society. Some of his work deals with the improvement of social life at that time. The writing of this article aims to examine the work of Al Ghazali and connect it with the economic and political situation in the life of Al-Ghazali. The method used is the descriptive method. The results show that Al-Ghazali is a scholar who cares about the problems of society, including the economic problems of society. |
| Keywords: | economic law, al Ghazali, Islamic economy, economic thinking |
| JEL: | B0 B00 |
| Date: | 2018–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:87031&r=hme |
| By: | Tiago Neves Sequeira (Univ. Beira Interior and CEFAGE-UBI); Pedro Mazeda Gil (University of Porto, Faculty of Economics, and CEF.UP); Óscar Afonso (University of Porto, Faculty of Economics, CEF.UP, and CEFAGE-UBI) |
| Abstract: | This paper offers novel insights regarding the role of complexity in both the transitional and the long-run dynamics of the economy. We devise an endogenous growth model using the concept of entropy as a state-dependent complexity effect. This allows us to gradually diminish scale effects as the economy develops along the transitional dynamics, which conciliates evidence on the existence of scale effects in history with evidence of no or reduced scale effects in today’s economies. We show that empirical evidence supports entropy as a “first principle” operator of the complexity effect. The model features endogenous growth, with null or small (positive or negative) scale effects, or stagnation, in the long run. These different long-run possibilities have also policy implications. Then, we show that the model can replicate well the take-off after the industrial revolution and the productivity slowdown in the second half of the XXth century. Future scenarios based on in-sample calibration are discussed, and may help to explain (part of) the growth crises affecting the current generation. |
| Keywords: | endogenous economic growth, complexity effects, entropy |
| JEL: | O10 O30 O40 E22 |
| URL: | http://d.repec.org/n?u=RePEc:gmf:papers:2018-05&r=hme |
| By: | Philippe De Vreyer (LEDa - Laboratoire d'Economie de Dauphine - Université Paris-Dauphine, DIAL - Développement, institutions et analyses de long terme); Sylvie Lambert (PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics) |
| Abstract: | This paper uses a novel survey to re-examine inequality and poverty levels in Senegal. In order to account for intra-household inequalities, the paper uses consumption data collected at a relatively disaggregated level within households. This data reveal that first, mean consumption is higher than measured by standard consumption surveys; and second, that consumption inequality in this country is also much higher that what is commonly thought, with a Gini index reaching 48. These findings affect global poverty estimates in opposite directions and in this context, nearly compensate for each other. Intra-household consumption inequalities are shown to account for nearly 14% of total inequality in Senegal. These results are robust to the existence of plausible measurement errors. As a result of this intra-household inequality, "invisible poor" exist with 12.6% of the poor individuals living in non-poor households. |
| Keywords: | Inequality,Poverty,Household surveys,Intra-household allocation,Senegal |
| Date: | 2018–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01724194&r=hme |
| By: | Pancarini, Ans Shinta |
| Abstract: | The advancement of the economy is heavily dependent on market conditions. The market brings together the sellers and buyers, to conduct transactions on goods and services (supply and demand). Balance in supply and demand is needed to maintain economic stability. Market urgency attracts the characters to put forward their theories of both Islamic and western thinkers. Islam is a divine religion that brings the benefit of the afterlife. Islam has different views and thoughts about market mechanisms. This thinking precedes what western thinkers have expressed. Ibn Taymiyya reveals five concepts in the development of market mechanisms, namely fair prices, fair markets, fair profit concepts, the concept of fair wages and aims for society. The essence of Ibn Taimiyyah's thought is about the justice of the ummah. Broadly speaking Ibn Khaldun thought of concept on justice. |
| Keywords: | Ibn Taimiyyah, Market Mechanism, History of Islamic Economics |
| JEL: | A11 A13 B00 D40 E20 |
| Date: | 2018–03–17 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:87024&r=hme |
| By: | Michel Trommetter (GAEL - Laboratoire d'Economie Appliquée de Grenoble - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - INRA - Institut National de la Recherche Agronomique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes) |
| Abstract: | Comment évaluer le coût social du non-maintien dans un état satisfaisant de la biodiversité et des écosystèmes, notamment dans le contexte du changement climatique ? Comment concevoir les régulations et instruments pour l'éviter ? Cette note dresse un état des lieux sur ces deux questions. Elle met notamment l'accent sur le maintien des services d'auto-régulation, sans lesquels les écosystèmes risquent de ne pouvoir fournir les services que l'on en attend. Elle insiste aussi sur le besoin de cohérence des politiques publiques et de vision intégrée prenant pleinement en compte les comportements et le rôle des acteurs privés. |
| Keywords: | politique environnementale,changement climatique,biodiversité,ecosystème |
| Date: | 2018–05–28 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01802500&r=hme |
| By: | Mujahidin, Muhamad |
| Abstract: | This article describes the economic thinking of Ibn Khaldun. This study uses the historical approach of Islamic economic thinking through textual exegesis (text analysis). The results of this study indicate that the economic thought of Ibn Khaldun explains the concept of multidimensional economy involving various social aspects. Ibn Khaldun's economic concept implies an economic system that requires five components, namely sharia, government, society, ownership, free and fair economic activity. |
| Keywords: | Islamic Economics, Ibn Khaldun, Social, Fair, Free |
| JEL: | A10 A11 A13 B00 B11 E20 |
| Date: | 2018–03–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:87143&r=hme |
| By: | Sandye Gloria (UCA - Université Côte d'Azur , GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS - Centre National de la Recherche Scientifique - UNS - Université Nice Sophia Antipolis - UCA - Université Côte d'Azur) |
| Abstract: | MENGER VERSUS WALRAS It is common to see in the rejection by Carl Menger of the use of mathematics only an anecdotal specificity which differentiates the author, on the form exclusively, from the marginalist analysis of Léon Walras. We show that, ultimately, Menger's rejection of mathematics (of a certain type) is a coherent decision perfectly justified by the vision of economic reality which the author seeks to analyse and by the methods he judges most appropriated. Some tools available today, the tools of complexity, seem well adapted to the thinking of this author and allow his renewal. We propose the broad outlines of a Neo-Mengerian program rooted in complexity economics |
| Abstract: | Il est courant de ne voir dans le rejet par Carl Menger de l'usage de l'outil mathématique qu'une spécificité anecdotique qui le différencie, sur la forme exclu-sivement, de l'analyse marginaliste de Léon Walras. Nous montrerons qu'en fin de compte le rejet des mathématiques (d'un certain type) par Menger est une décision cohérente parfaitement justifiée par la vision de la réalité économique que l'auteur cherche à rendre intelligible et par la méthode qu'il juge à cet effet appropriée. Certains outils aujourd'hui disponibles, les outils de la complexité, semblent bien adaptés à la pensée de cet auteur et permettent son renouvellement. Nous propo-sons les grandes lignes d'un programme néomengerien ancré dans l'économie de la complexité. . |
| Keywords: | Classification JEL : B13,Menger, Walras, social ontology, mathematical economics,complexity econommics |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01797323&r=hme |
| By: | Nashihah, Faidatun |
| Abstract: | The capitalist economy and the socialist economic history can not actually manifest even the distorted performance associated with economy and nothingness. This article uses a content analysis and historical methods in revealing the Islamic economic history of the issues. |
| Keywords: | country, market, economy, hisbah, Islamic economy |
| JEL: | B0 B31 D4 P0 |
| Date: | 2018–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:87029&r=hme |
| By: | Elsässer, Lea; Hense, Svenja; Schäfer, Armin |
| Abstract: | Empirical studies have shown that US politics is heavily tilted in favor of the better off, as political decisions tend to reflect the preferences of the rich while largely ignoring those of the poor and middle classes. These findings have prompted a lively debate about potential mechanisms that cause this pattern of unequal responsiveness. Existing studies suggest that specific characteristics of the political system are a major explanatory factor - in particular, private donations and campaign financing. We build on these studies but focus for the first time on an entirely different case. In this Discussion Paper, we ask whether similar patterns of unequal responsiveness are discernible in Germany, which not only is a more egalitarian country, but also funds election campaigns entirely differently from the US. We analyze an original dataset of more than 800 survey questions posed between 1980 and 2013. The questions deal with specific political decisions debated at the time and cover a broad range of politically relevant topics. Our results show a notable association between political decisions and the opinions of the rich, but none or even a negative association for the poor. Representational inequality in Germany thus resembles the findings for the US case, despite its different institutional setting. Against this background, we conclude by discussing potential mechanisms of unequal responsiveness. |
| Keywords: | democracy,Europe,inequality,political responsiveness,representation,Demokratie,Europa,politische Responsivität,Repräsentation,Ungleichheit |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:mpifgd:185&r=hme |
| By: | Pauline Debanes (FFJ - Fondation France-Japon de l'EHESS - EHESS - École des hautes études en sciences sociales, CCJ - Chine, Corée, Japon - EHESS - École des hautes études en sciences sociales - UPD7 - Université Paris Diderot - Paris 7 - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The role of the state and public agencies has come to the fore again since the global financial crisis to spur innovation-led growth. Alimented by the success of global tech giants in particular, new policy rationales emerged in favor of government support for ICT startups. The paper addresses the crucial question of whether the corresponding organizational capabilities do exist to implement such policies. This article focuses on the case of South Korea, renowned at the same time for the strong capacities of the state and an institutional setting hostile to new ventures. The main contribution of the paper is to analyze institutional change within the Korean innovation bureaucracy and the evolution of its organizational capabilities, underpinning the startup promotion policies implemented since 2013. Under the appearance of continuity of state innovation capacities, the startup promotion policies foster a restructuring of the public infrastructure supporting the corporate sector. The results, drawn upon an extensive fieldwork in the Korean startup ecosystem, indicate that there is a loss of state capacities, which impede on the implementation of large-scale promotion of the manufacturing industries. |
| Keywords: | innovation bureaucracy, institutional change,innovation policy,Korea,state capacity |
| Date: | 2018–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01800489&r=hme |
| By: | Florence Benoît-Moreau (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique); Eva Delacroix (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique); Aurélie Floch (autre - AUTRES); Elodie Mottis (autre - AUTRES) |
| Abstract: | This paper questions the role of marketing strategies in the diffusion and thereinforcement of gender stereotypes, through product offer in the fashion industry. Analysing the visuals of five popular fashion retailers’ exhaustive collections of T-Shirts, it reveals significant differences between messages targetting women and those for men, in terms of themes as well as symbols presented. If women are invited to love and feeric world, men are called to action, adventure and travels. |
| Abstract: | Cet article questionne le rôle des stratégies marketing dans la diffusion et le maintien de stéréotypes de genre, au travers de l’offre produit dans l’industrie de la mode. Au travers d’une analyse systématique du corpus de visuels des collections de T-Shirt de cinq enseignes populaires ’habillement, il montre des différences significatives entre les messages des lignes féminines et masculines, tant dans les thématiques que dans les signes et images mobilisées. Si les femmes sont associées à l’amour et à des univers oniriques, les hommes sont invités à l’action, l’aventure, le voyage. |
| Keywords: | Stéréotypes de genre,Marketing genré,Industrie de la mode,Gender stereotypes,Gendered marketing,Fashion industry |
| Date: | 2018–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01803622&r=hme |
| By: | Jon Bernat Zubiri-Rey (CREG - Centre de recherche en économie de Grenoble - UPMF - Université Pierre Mendès France - Grenoble 2 - UGA - Université Grenoble Alpes, UPV/EHU - Universidad del Pais Vasco / Euskal Herriko Unibertsitatea) |
| Abstract: | This contribution is structured in three sections. In the first section I will synthesize the most important ideas of the Irish colleagues' article, with a critical commentary to their contribution. Then, I will provide, founded on my own academic labor and social struggle experiences, the same evidences about the commercialization of universities and the declining autonomy and freedom of their staff in the reforms imposed in the French, Spanish and the Basque university systems1. In the third and last part of this exposition I will discuss some critical ideas and questions to contribute to the political transformation of the university institution's way. |
| Keywords: | higher education , university , commercialisation , academic freedom |
| Date: | 2016–06–18 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01807682&r=hme |
| By: | Nadia Fiorino; Emma Galli; Ilde Rizzo; Marco Valente |
| Abstract: | Based on the literature on public procurement regulation, we use an Agent-Based Model to assess the performance of different selection procedures. Specifically, we aim at investigating whether and how the inclusion of reputation of firms in the public procurement selection process affects the final cost of the contract. The model defines two types of actors: i) firms potentially competing to win the contract; ii) a contracting authority, aiming at minimizing procurement costs. These actors respond to environmental conditions affecting the actual costs of carrying on the project and unknown to firms at the time of bidding and to the contracting authority. The results from the model are generated through simulations by considering different congurations and varying some parameters of the model, such as the firms' skills, the level of opportunistic rebate, the relative weight of reputation and rebate. The main conclusion is that reputation matters and some policy implications are drawn. |
| Keywords: | Public works; Procurement; Agent-based modelling |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2018/18&r=hme |
| By: | Jean-Luc Gaffard; Mauro Napoletano |
| Abstract: | We revisit the main building blocks of the theoretical models underlying the monetary policy consensus before the Great Recession. We highlight how the failure of these models to prevent the crisis and to provide guidance during the recession were due to the excessive confidence in the ability of markets to coordinate demand and supply, and to the neglect of the role of finance. Furthermore, we outline the main elements of an alternative approach to monetary policy that put emphasis on the processes driving coordination in markets, and on the externalities transmitted by financial inter-linkages. Many elements of this new approach are captured by new classes of models, namely, agent-based and financial network models. We discuss some insights from these models for the conduct of monetary policy, and for its interactions with fiscal and macro- prudential policies. |
| Keywords: | output-inflation dynamics, new-keynesian models, disequilibrium analysis, agent-based models, fiscal-monetary policy interactions, quantitative easing policies |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2018/17&r=hme |
| By: | Heidhues, Paul; Köszegi, Botond |
| Abstract: | This discussion paper is a preliminary version of a survey written for the Handbook of Behavioral Economics. |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:12988&r=hme |
| By: | Bénédicte H. Apouey (PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics) |
| Abstract: | Dans le contexte du vieillissement de la population, cet article s'intéresse aux attentes en termes de nouveaux services qui pourraient faciliter le bien vieillir en France. A partir de données originales sur les adhérents d'une mutuelle, nous nous concentrons sur les attentes relatives à sept types de services (services liés à la vie sociale, et à la santé et aux soins, entre autres) et étudions leurs déterminants. Nos analyses montrent le rôle majeur joué par l'altruisme, la solidarité, et l'anticipation de la dépendance dans ces attentes. |
| Keywords: | vieillissement,bien vieillir,France,solidarité,séniors,services,altruisme |
| Date: | 2018–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01627093&r=hme |
| By: | Michela Brunori |
| Abstract: | This article talks about how economic diversity has been promoted as a way to reach stability and growth, two of the main goals of our society. However, the connection between diversity, diversification and economic performance depends on the differences between diversity and diversification. The following work is a brief review of the most used diversity measures in the economic field. Thanks to the needs of the global market, today diversity management is also an economic interest and recent literature refers mostly to diversity in business and management. It will also be possible to observe that in Italy diversity management is poorly developed. |
| Date: | 2018–07–20 |
| URL: | http://d.repec.org/n?u=RePEc:udf:wpaper:2018057&r=hme |