The Routledge Handbook of Heterodox Economics
Theorizing, Analyzing, and Transforming Capitalism
Routledge International Handbooks Series

The Routledge Handbook of Heterodox Economics presents a comprehensive overview of the latest work on economic theory and policy from a ?pluralistic? heterodox perspective.

Contributions throughout the Handbook explore different theoretical perspectives including: Marxian-radical political economics; Post Keynesian-Sraffian economics; institutionalist-evolutionary economics; feminist economics; social economics; Régulation theory; the Social Structure of Accumulation approach; and ecological economics. They explain the structural properties and dynamics of capitalism, as well as propose economic and social policies for the benefit of the majority of the population. This book aims, firstly, to provide realistic and coherent theoretical frameworks to understand the capitalist economy in a constructive and forward-looking manner. Secondly, it delineates the future directions, as well as the current state, of heterodox economics, and then provides both ?heat and light? on controversial issues, drawing out the commonalities and differences among different heterodox economic approaches. The volume also envisions transformative economic and social policies for the majority of the population and explains why economics is, and should be treated as, a social science.

This Handbook will be of compelling interest to those, including students, who wish to learn about alternative economic theories and policies that are rarely found in conventional economics textbooks or discussed in the mainstream media, and to critical economists and other social scientists who are concerned with analyzing pressing socio-economic issues.

Part I: Introduction

1. The State of the Art and Challenges for Heterodox Economics

Tae-Hee Jo, Lynne Chester, and Carlo D’Ippoliti

Part II: The Theoretical Cores of Heterodox Economics

2. Social Provisioning Process: A Heterodox View of the Economy

Tae-Hee Jo and Zdravka Todorova

3. The Social Surplus Approach: Historical Origins and Present State

Nuno Ornelas Martins

4. Accumulation Regimes

Agnès Labrousse and Sandrine Michel

5. Monetary Theories of Production

Marco Veronese Passarella

6. The Principle of Effective Demand: Marx, Kalecki, Keynes, and Beyond

Eckhard Hein

7. Heterodox Theories of Value: A Brief History

Ajit Sinha

8. Theories of Prices and Alternative Economic Paradigms

Carlo D’Ippoliti

9. Heterodox Theories of Distribution

Scott Carter

10. The Micro-Macro Link in Heterodox Economics

Claudius Gräbner and Jakob Kapeller

Part III: The Anatomy of Capitalism

11. Society and Its Institutions

John F. Henry

12. Heterodox Economics and Theories of Interactive Agency

Mary V. Wrenn

13. Households in Heterodox Economic Theory

Zdravka Todorova

14. A Heterodox Theory of the Business Enterprise

Tae-Hee Jo

15. Heterodox Theories of Business Competition and Market Governance

Tuna Baskoy

16. A Marxian Understanding of the nature and Form of Dominant Capitalist Legal Institutions

Lorraine Talbot

17. Money and Monetary Regimes

Pavlina R. Tcherneva

18. Banks in Developing Countries

Radha Upadhyaya

19. Shadow Banking

Benjamin Wilhelm

20. The Informal Economy in Theory and Policy: Prospects for Well-being

Elizabeth Hill

21. Inequality and Poverty

Marcella Corsi and Giulio Guarini

Part IV: The Dynamics of the Capitalist Socio-Economic Structure

22. The Accumulation of Capital: An Analytical and Historical Overview

Ramaa Vasudevan

23. A Heterodox Reconstruction of Trade Theory

Yan Liang

24. Analyzing the Organization of Global Production: Thoughts from the Periphery

Víctor Ramiro Fernández and Gabriel Brondino

25. Labor Processes and Outcomes: An Institutional-Heterodox Framework

Siobhan Austen

26. Heterodox Theories of the Business Cycle

Matías Vernengo

27. Heterodox Theories of Economic Growth

Özgür Orhangazi

28. Financialization and the Crises of Capitalism

Petra Dünhaupt

29. Theories of International Development: The Post Keynesian and Marxian Alternatives

John Marangos

30. Energy, Environment, and the Economy

Anders Ekeland and Bent Arne Sæther

Part V: Transforming the Capitalist Social Provisioning Process

31. An Exit Strategy from Capitalism’s Ecological Crisis

Lynne Chester

32. Restructuring Financial Systems with Human Advancement in Mind

Wesley C. Marshall

33. Rethinking the Role of the State

Anna Klimina

34. The Twenty-First Century Capitalist Revolution: How the Governance of Large Firms Shapes Prosperity and Inequality

Jordan Brennan

35. Achieving Full Employment: History, Theory, and Policy

John Marsh, Timothy Sharpe, and Bruce Philp

36. Social Welfare and Social Control

Andrew Cumbers and Robert McMaster

Part VI: Conclusion

37. Heterodox Economics as a Living Body of Knowledge: Community, (In)Commensurability, Critical Engagement, and Pluralism

Jamie Morgan and John Embery

Tae-Hee Jo is Associate Professor in the Economics and Finance Department at The State University of New York–Buffalo State, USA, and a former Editor of the Heterodox Economics Newsletter (2009–13). He has been working on heterodox microeconomic theory from institutionalist, Marxian, and Post Keynesian perspectives.

Lynne Chester is Associate Professor in the University of Sydney’s Department of Political Economy, Australia. She is recognized as a leading Australian scholar in the empirical application of Régulation theory. Her research focuses on a range of energy issues (affordability, security, markets, price formation, the environment) and the policy responses of capitalist economies through different institutional forms.

Carlo D’Ippoliti is Associate Professor of Economics at Sapienza University of Rome, Italy. He is the editor of PSL Quarterly Review and of Moneta e Credito, and his research focuses on the history of economic thought, feminist economics, and European political economy.