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on Heterodox Microeconomics |
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Issue of 2020‒02‒24
eighteen papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Caitlyn Keo (Caroline Kraff); Caroline Kraff (St. Catherine University); Luca Fedi (International Labour Organization) |
| Abstract: | This paper investigates the lives and livelihoods of rural women in Egypt. Rural women have lower economic participation, by standard measures, than urban women or men. This paper introduced additional measures of economic participation and found that standard measures vastly underestimated the economic engagement of rural women. These additional measures also allowed us to better delineate the nature of women’s contributions to the economy and society. Rural women were frequently engaged in tending livestock, in household non-farm enterprises, and domestic work. Rural women had distinct patterns of family formation, with higher rates of early marriage than urban women and higher fertility rates. Although gender role attitudes were equitable in some respects, such as gender equality in education, other aspects, such as attitudes towards work and domestic violence, showed rural women were particularly vulnerable. |
| Date: | 2019–10–20 |
| URL: | http://d.repec.org/n?u=RePEc:erg:wpaper:1359&r=all |
| By: | Richard Sobel (CLERSE - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - ULCO - Université du Littoral Côte d'Opale - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The present study aims at providing an analysis of Jean-François Lyotard's criticism of Marx theory of the wage-capital conflict, as it is presented in The Differend: Phrases in Dispute (1983). We uphold that Lyotard's analysis is important and original in many respects. First, it introduces into philosophical criticisms of Marx some considerations on the theory of language. Second, it deals with the wage-capital conflict as a Kantian Idea, made of some irreducible part—"an intractable wrong" done by one party (the Capital) to another (the Workers—, which cannot be expressed within a common language. The article reflects on the nature and consequences of Lyotard's criticism for Marxist studies. |
| Abstract: | Dans cet article, nous revenons sur la critique de la théorie marxiste du salariat par Jean-François Lyotard dans Le Différend(1983). Nous y soutenons que l'analyse de Lyotard est importante à plusieurs titres. D'abord parce que Lyotard introduit dans la critique philosophique du marxisme des considérations sur le langage. Ensuite parce que Lyotard théorise le rapport salarial comme «tort intraitable» infligé par une partie (le capital) sur une autre (le travail), identifiant donc le «différend» salarial à une Idée au sens kantien. L'article propose une réflexion sur la nature et les conséquences de la critique de Lyotard pour les études marxistes. |
| Keywords: | Lyotard (Jean-François),differend,post-modernism,language,wage labor,capitalism,différend,post-modernité,langage,salariat,capitalisme |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-02430026&r=all |
| By: | Elisabeth Cudeville (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Martine Gross (CéSor - Centre d’études en sciences sociales du religieux - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique); Catherine Sofer (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics) |
| Abstract: | Women throughout the world still do most of the unpaid domestic work. To reveal the impact of social norms beside traditional economic variables on the sharing of household tasks within couples, we choose to compare the sharing of tasks between heterosexual and homosexual couples in France based on econometric estimations. The results show that, other things being equal, heterosexual couples share tasks much more unequally than homosexual couples. Assuming that the behavior of same-sex couples is not affected by gendered social norms, we then propose a measure of the impact of these norms using a Blinder-Oaxaca type decomposition. |
| Keywords: | Household production,Gender Inequality,Division of Housework,Gender norms,Homosexual Couples,Heterosexual Couples |
| Date: | 2020–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-02468956&r=all |
| By: | Jacques Fontanel (CESICE - Centre d'études sur la sécurité internationale et les coopérations européennes - UPMF - Université Pierre Mendès France - Grenoble 2 - UGA - Université Grenoble Alpes) |
| Abstract: | Summary: Economics calls no morals or ethics. It claims to be science and it affirms that the proper functioning of individual interest constitutes the best economic and social solution for all economic agents. Any measure aimed at modifying the relentless and fair game of the market leads to perverse effects, such as unemployment, public debt or capital transfers, which will strain the future horizons of collective well-being. In this context, economic globalization constitutes major social progress. Heterodox economists question this sketchy concept of man. Concretely, the deviations from hypotheses compared to reality are numerous, such as the existence of competitive monopolies or oligopolies, the necessary political, strategic and sovereign interventions of the States, economic crises, growing inequalities, all the problems collective pollution and the excessive exploitation of the Earth that the particular economic interests can easily neglect to the detriment of the world community. |
| Abstract: | Résumé : La science économique n'appelle aucune morale ou éthique. Elle se veut science et elle affirme que le bon fonctionnement de l'intérêt individuel constitue la meilleure solution économique et sociale pour l'ensemble des agents économiques. Toute mesure tendant à modifier le jeu implacable et juste du marché conduit à des effets pervers, comme le chômage, l'endettement public ou les transferts de capitaux, qui grèveront les futurs horizons du bien-être collectif. Dans ce contexte, la globalisation économique constitue un progrès social majeur. Les économistes hétérodoxes s'interrogent sur cette conception sommaire de l'homme. Concrètement, les entorses des hypothèses par rapport à la réalité sont nombreuses, comme l'existence de monopoles ou d'oligopoles concurrentiels, les interventions politiques, stratégiques et régaliennes nécessaires des Etats, les crises économiques, les inégalités croissantes, l'ensemble des problèmes de pollution collective, notamment le réchauffement climatique, et l'exploitation excessive de la Terre, notamment de l'oekoumène, que les intérêts économiques particuliers peuvent aisément négliger au détriment de la collectivité mondiale. |
| Keywords: | ethics,globalization,economic crises,monopolies,pollution,Earth exploitation,State.,Economics,monopoles,Science économique,globalisation,crises économiques,exploitation de la Terre,Etat |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02469552&r=all |
| By: | Luke Nancy |
| Abstract: | Women have historically been overlooked in research on social mobility. In contrast, new research focuses on the intergenerational transmission of gender attitudes and norms as determinants of women’s labour force participation in industrialized countries.This paper discusses the measurement of gender attitudes and reviews research findings. Studies reveal that gender attitudes are a key transmission mechanism for intergenerational economic mobility beyond wealth and other economic factors.Mothers’ egalitarian views and less-restrictive gender norms promote greater labour force participation for daughters and daughters-in-law. There are few investigations in developing countries, where restrictive gender attitudes and norms are more pervasive and could potentially have greater impact in shaping women’s labour force participation.The paper concludes with a brief case study of women’s labour force participation in India, where the direct link between gender attitudes and women’s labour market engagement could provide a further explanation for its recent decline. |
| Keywords: | women's labour force participation,Gender,gender attitudes,Norms |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp-2019-108&r=all |
| By: | Sumner Andy; Kim Kyunghoon |
| Abstract: | Discussions on the developing world’s industrial policies have largely neglected the role of state-owned entities.This paper argues that the resurgence of state capitalism has been, in part, the response of developing countries to the recent pattern of structural transformation involving weak manufacturing. Using the case of Indonesia, this paper demonstrates that many middle-income countries have large and diverse state-owned entities in their development policy toolbox and have begun to experiment with these tools in order to change the pace and characteristics of structural transformation.Considering these trends, there is a need to reconsider or ‘normalize’ the debate on the positive role that state-owned entities can play in stimulating structural transformation and on the institutional and policy design that can foster that role. |
| Keywords: | Indonesia,Industrial policy,Industrialization,infrastructure,state-owned enterprises |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp-2019-87&r=all |
| By: | Nicola Bellomo; Giovanni Dosi; Damian A. Knopoff; Maria Enrica Virgillito |
| Abstract: | This paper represents the first attempt to bridge the evolutionary theory in economics and the theory of active particles in mathematics. It seeks to present a kinetic model for an evolutionary formalization of socio-economic systems. The derived new mathematical formulation intends to formalize the processes of learning and selection as the two fundamental drivers of evolutionary systems [7]. To coherentl y represent the aforementioned properties, the kinetic theory of active particles [1] is here further developed, including the complex interaction of two hierarchical functional subsystems. Modeling and simulations enlighten the predictive ability of the approach. Finally, we outline the potential avenues for future research. |
| Keywords: | Evolutionary dynamics; idiosyncratic learning; market selection; active particles; kinetic theory. |
| Date: | 2020–02–15 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2020/04&r=all |
| By: | Annan,Jeannie Ruth; Donald,Aletheia Amalia; Goldstein,Markus P.; Gonzalez Martinez,Paula Lorena; Koolwal,Gayatri B. |
| Abstract: | This paper examines women's power relative to that of their husbands in 23 Sub-Saharan African countries to determine how it affects women's health, reproductive outcomes, children's health, and children's education. The analysis uses a novel measure of women's empowerment that is closely linked to classical theories of power, built from spouses'often-conflicting reports of intrahousehold decision making. It finds that women's power substantially matters for health and various family and reproductive outcomes. Women taking power is also better for children's outcomes, in particular for girls'health, but it is worse for emotional violence. The results show the conceptual and analytical value of intrahousehold contention over decision making and expand the breadth of evidence on the importance of women's power for economic development. |
| Date: | 2019–10–02 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:9034&r=all |
| By: | Nathanael Colin-Jaeger (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet [Saint-Étienne] - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - CNRS - Centre National de la Recherche Scientifique); Thomas Delcey (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Hayek and the Efficient Market Hypothesis (EMH) are often seen as proposing a similar theory of prices. Hayek is seen as proposing to understand prices as information conveyer, incorporating information during the process of competition, while EMH is defined as the fact that all information in a market is integrated into assets prices. This paper explains how a lineage between Hayek and the EMH can be illustrated while taking into account these differences. We introduce in order to defend this claim a distinction between methodological and epistemological differences: methodological differences are seen as the way an author operationalizes his broader conceptions whereas epistemology is defined as the core concepts of his theory. We particularly want to shed light on the homogeneous shift that can be identified in the epistemology of Hayek and the EMH. We conclude that this shift fleshes out the understanding that some authors have of neoliberalism. |
| Keywords: | Efficient market hypothesis,Hayek,Neoliberalism,Information,Epistemology of economics |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01933895&r=all |
| By: | Mario Tonveronachi |
| Abstract: | Starting from the mid-nineteenth century, this paper analyzes two periods of financial instability connected with financial globalization. The first culminates with the 1929 crisis, while the second characterizes the more recent experience starting from the 1970s. The period in between is divided into two subperiods. The first goes up to World War II and sees a retrenchment from globalization and the affirmation of a statist approach to national policy autonomy in pursuing domestic goals, for which we take as examples the New Deal, financial regulation, and the new international cooperative approach finally leading to Bretton Woods. The second subperiod, marked by the new international monetary order and limited globalization, although appearing as a relatively calm interlude, conceals the seeds of a renewed push toward financial fragility. The above periods are synthetically analyzed in terms of the development and mutual fertilization of theories, institutions, and vested public and private interests. The narrative is based on two interpretative keys: the Minskyan theory of financial fragility and changes in the public-private partnership, mainly with reference to the financial sector for which the role of the State as guarantor of last resort necessarily ensues. The lesson that can be derived is that a laissez-faire approach to globalization strengthens asymmetric powers and necessarily leads to overglobalization, as well as to financial and economic instability, rendering it extremely difficult and socially costly for the State to comply with its role of financial guarantor. |
| Keywords: | Financial Instability; Financial Fragility Theory; Globalization; International Cooperation; Financial Regulation; Public-Private Partnership |
| JEL: | B00 E1 E31 E32 E4 F33 G18 |
| URL: | http://d.repec.org/n?u=RePEc:lev:wrkpap:wp_947&r=all |
| By: | José Luis Oreiro (None); Luiz Fernando de Paula; João Pedro Heringer Machado |
| Abstract: | This paper assesses the main theoretical contributions by Fernando Cardim de Carvalho to the Post-Keynesian Economics Paradigm: his elucidation of the fundamental principles that define the concept of a monetary production economy; his analysis of decision-making under non-probabilistic uncertainty; his development of a portfolio choice theory in which the decision to invest is regarded as one of possible wealth accumulation strategies; his liquidity preference theory, including its application to banks’ portfolio allocations under uncertainty; and finally his analysis of the finance-funding circuit and its implications for the functioning of monetary economies. |
| Keywords: | Post-Keynesian theory; Keynes; monetary economics |
| JEL: | B59 E12 E44 |
| Date: | 2020–02 |
| URL: | http://d.repec.org/n?u=RePEc:pke:wpaper:pkwp2007&r=all |
| By: | Sabina Szymczak (Gdansk University of Technology, Gdansk, Poland); Joanna Wolszczak-Derlacz (Gdansk University of Technology, Gdansk, Poland) |
| Abstract: | This article examines the overall effect of global value chains (GVCs) on labour market outcomes, namely wages and labour demand. The analysis exploits the World Input-Output Database (WIOD, 2016 release) covering 43 countries and 54 sectors from 2000 to 2014. GVC involvement is measured by the recently developed GVC participation indexes (based on both backward and forward linkages) and relative GVC position (Wang et al., 2017a, 2017b). The estimates employ the three-least-squares method. The results indicate that GVC position is negatively correlated both with wages and with employment, while the effect of GVC participation as such depends on whether backward or forward linkages are considered. We find some heterogeneity between countries (middle- versus high-income) and sectors (manufacturing versus services). Importantly, the labour market effect of involvement in GVCs is different from the channel of traditional trade in which the production process does not cross national borders. The R codes for calculation of input-output measures of GVC are provided. |
| Keywords: | global value chains, input-output, employment, wages |
| JEL: | F14 F16 J31 J21 |
| Date: | 2019–11 |
| URL: | http://d.repec.org/n?u=RePEc:gdk:wpaper:59&r=all |
| By: | Russell Krueger (Economist) |
| Abstract: | The GCC economic integration process is taking place among countries that officially embrace Islam and with heavily Muslim populations. The thesis of this paper is that the GCC financial system is partially bifurcated into conventional and Islamic subsectors; intrinsic characteristics of Islamic finance might tend to partially isolate it from the general financial system in the GCC with consequences for overall financial integration prospects and financial stability. This paper enumerates several areas where special actions might be needed to effectively integrate Islamic finance in national and regional financial systems to support the economic and policy efforts of the integration program. Higher degrees of regional financial integration such as a common market or monetary union require a high level of harmonisation of rules and practices in multiple spheres including financial market integration, which encompasses Islamic finance as well as conventional finance. |
| Date: | 2019–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:erg:wpaper:1381&r=all |
| By: | Benoît Desmarchelier (Xjtu - Xi'an Jiaotong University) |
| Abstract: | The economic literature on services has for a long time been dominated by an industrialist bias which considers services as unproductive. This point of view was progressively replaced by a more positive integrative framework that takes into account possibilities of non-technological innovations. However, this framework does not constitute a theory of the growth of services and business services. We show the proximity between the integrative framework and the complex systems, and we argue that theories of the dynamics of such systems offer promising explanations for these two phenomena. In a systemic perspective, services are catalysts-i.e. actors who increasingly complexify the economic system-by taking part to various production and innovation processes at the same time. |
| Date: | 2018–10–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02393045&r=all |
| By: | Oscar Esteban Morillo Martínez |
| Abstract: | El predominio de las finanzas en los regímenes de acumulación en el capitalismo del siglo XXI es un proceso, por lo general, descrito como financiarización: fenómeno muy estudiado por diferentes escuelas de la heterodoxia económica, entre ellas la escuela de la regulación francesa. Así las cosas, se busca comprender si Colombia ha convergido en este régimen de acumulación, siguiendo las categorías de la escuela de la regulación francesa; dando cuenta de las estadísticas, los procesos y sus resultados en materia de distribución e impacto. Se realiza el análisis de acuerdo a un principio dialectico que da cuenta de las diferentes contradicciones presentes en el patrón de acumulación y en la articulación de la esfera privada con la pública a través de un marco institucional siempre cambiante de acuerdo a los intereses económicos y el contexto internacional. Las observaciones indican que el sector financiero ha ganado terreno en Colombia vía precarización laboral y conflicto distributivo gracias a la influencia institucional que este sector y la ideología dominante ha venido instaurando en los diferentes espacios de poder. No obstante, después del análisis expuesto, se pone en duda si Colombia ha convergido completamente o simplemente se mantiene en hibridación con el régimen de acumulación financiarizado o patrimonial. Pues no se evidencia un mercado de capitales desarrollado, ni hay un amplio desarrollo de sectores de alta tecnología, no hay mucha facilidad para que la población entre a cotizar títulos del mercado financiero y el crédito no es el principal factor de apalancamiento del consumo; rasgos característicos de este tipo de régimen de acumulación. |
| Keywords: | deuda, regímenes de acumulación, finanzas, regulación |
| JEL: | B14 E11 E12 F02 N16 |
| Date: | 2020–02–12 |
| URL: | http://d.repec.org/n?u=RePEc:col:000176:017856&r=all |
| By: | Nicolas Brisset (Université Côte d'Azur, France; GREDEG CNRS) |
| Keywords: | Capital et idéologie, capitalisme, inégalités, transition |
| JEL: | N01 B00 D63 A14 |
| Date: | 2020–02 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2020-04&r=all |
| By: | Kuhn, Andreas (Swiss Federal Institute for Vocational Education and Training); Wolter, Stefan C. (University of Bern) |
| Abstract: | We empirically test the hypothesis that adolescents' occupational aspirations are more gender-stereotypical if they live in regions where the societal norm towards gender equality is weaker. For our analysis, we combine rich survey data describing a sample of 1,434 Swiss adolescents in 8th grade with municipal voting results dealing with gender equality and policy. We find that occupational aspirations are strongly gender-segregated and that adolescents living in municipalities with a stronger norm towards gender equality are significantly less likely to aspire for a gender-stereotypical occupation, even after controlling for individual-level controls. At the same time, gender norms have virtually no power in explaining the gender stereotypicity of individual occupational aspirations - challenging the widespread conception that societal gender norms are one of the most important determinants of occupational gender segregation. Moreover, a more detailed analysis shows that the association may mainly reflect the intergenerational transmission of occupations from parents to their children and/or regional differences in the prevailing occupational structure. |
| Keywords: | occupational choice, occupational segregation, gender norms, preferences, intergenerational transmission, regional occupational structure |
| JEL: | J16 J24 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp12861&r=all |
| By: | Shree Saha (Indira Gandhi Institute of Development Research; Institute of Economic Growth) |
| Abstract: | There is now ample evidence that historical colonial institutions impact contemporary economic outcomes and some suggest that these links might be mediated by the influence of colonial institutions on electoral processes and outcomes. This paper examines this under-researched link in the context of India, focusing on two colonial institutions that potentially influence electoral outcomes - the type of rule, i.e. whether a territory was under direct British rule or whether it was under native rule - and the type of land tenure installed by the British. I measure electoral outcomes by three variables: voter turnout (VT), margin of victory (MV) and electoral competition (EC) and ask: Do historical colonial institutions impact contemporary electoral outcomes and if yes, in what ways? Do such impacts persist in the longer term? I focus specifically on the elections at the cusp of decolonization (1951) and those in 1970s, to assess short and longer-terms impacts. Results indicate a 4 higher VT in native ruled areas in the long run and 5 higher VT in the non-landlord areas in the short run. The latter dissipates in the longer term because of tenancy reforms. I find EC consistently higher in British and landlord areas but no robust impact on MV is noted. These results are consistent with the role played by landlords and erstwhile princes of native states after decolonization. The paper provides evidence on the potentially important mediating role of electoral outcomes in link between historical institutions and economic outcomes and suggests that research on elections should not overlook the role of historical institutions and those exploring the historical origins of economic outcomes should not overlook the role of elections. |
| Keywords: | Colonial institution, political institution, democracy, decolonization, path- dependence, elections |
| JEL: | B15 B16 B25 B52 D72 P48 |
| Date: | 2019–11 |
| URL: | http://d.repec.org/n?u=RePEc:ind:igiwpp:2019-033&r=all |