Archive of papers
John B. Davis
Abstract: This paper discusses the difference between mainstream and heterodox economics in terms of philosophy’s distinction between two types of temporal sequences governing events: the static, truth-tenseless before-after sequence and the dynamic, truth-tensed past-present-future sequence. Mainstream theory and optimization analysis …
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Posted for review 31 Mar 2025
Published in Economic Thought 12
John Komlos
The essay traces the evolution of my academic career through three stages: as a Habsburg economic historian, an anthropometric historian, and as a humanistic economist exposing the Achilles hills of mainstream economics and tracing the roots of the rise of …
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Posted for review 20 Mar 2025
Published in Economic Thought 12
Neoliberalism, Strong State and Democracy (withdrawn)
Hubert Gabrisch
The study serves to clarify the political content of neoliberalism, which is only vaguely outlined in the literature. Its thesis is that neoliberalism does not have a distinct or common economic theory, but rather a law-political agenda. Methodologically, the study …
Posted for review 7 Nov 2023
Charis Vlados
This paper posits that Heraclitus’ work constitutes a somewhat underappreciated foundation in the study of socioeconomic thought. It then differentiates his perspective from earlier economic thought in ancient societies and critically examines the surviving fragments of his work. The dialectical …
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Posted for review 7 Nov 2023
Published
Redefining the Economic Agent: A Psychological Approach (withdrawn)
Mudit Rastogi
The main intent of this article is to investigate the social nature of an economic agent in a realistic setting of the market. After a methodical and detailed reading of the classical writings by Adam Smith, Marx Weber and John …
Posted for review 21 Apr 2022
Narciso Túñez
Post Keynesian Economics has shifted away and even renegade from Keynes’ original research program, i.e., the Unemployment Equilibrium thesis, endogenous money and liquidity preference determination of interest rate in which money and uncertainty play a fundamental part. This paper attempts …
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Posted for review 20 Feb 2022
Published
Jean Cartelier
In a letter to Engels (24 August 1867), Marx says that the best of his book (Capital) are (i) the “dual character of the labour embodied in commodities” and (ii) the surplus value theory. Marx’s vindication of first point is …
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Posted for review 27 Aug 2021
Published
Extrapolate Lessons from the Economic Philosophy of Ibn Khaldun to Better Fight COVID-19 (withdrawn)
Zakariya Chabani
Ibn Khaldun’s economic philosophy represents an interesting explanation of the convergence of social, political and economic realms of human lives. In his theory, he provides insights into the requirements for achieving sustainable economic development. He reiterates several theories like the …
Posted for review 4 May 2021
Arturo Hermann
In this work we analyse the main interpretations of ownership in Original Institutional Economics (OIE) and their links with social psychology and psychoanalysis. We consider Thorstein Veblen’s notion of ownership as a relation of possession of persons, and John R.Commons’s …
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Posted for review 30 Apr 2021
Published
Unveiling the Systemic Nature of the Firm using a Grammar of Social Processes (withdrawn)
Bruno Braga
This paper proposes a meta-theoretical framework to explain all forms of economic coordination with a computational complexity approach, taking into consideration the contractual (or transaction costs-based), the competence-based and the relational views of the firm. A mathematical model of the …
Posted for review 22 Apr 2021
Arne Heise
The Cambridge Journal of Economics witnessed an important debate between Mark Pernecky and Paul Wojick on the one side and Rod Thomas on the other about the usefulness of Thomas Kuhn’s sociology and philosophy of science in explaining why Keynes’s …
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Posted for review 19 Apr 2021
Published
John B Davis
A question that recent research on the global pandemic raises is: how do the assumptions underlying epidemiological models and economic models differ? Epidemiological models we now know have become quite sophisticated (see Avery et al., 2020). Debate among economic methodologists …
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Posted for review 19 Apr 2021
Published
Rafael Galvão de Almeida
In this paper, I aim to define New Political Economy (NPE) as a label for the economic analysis of politics, for the English language. The term “political economy” itself, although it has ceased to be the preferred term by which …
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Posted for review 11 Nov 2020
Published
Jean-François Verne
In this paper, we look for the relevance of chaos in the well-known Hicks-Samuelson’s oscillator model investigating the endogenous fluctuations of the national income between two limits: full employment income and under-employment income. We compute the Lyapunov exponent, via Monte-Carlo …
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Posted for review 6 Nov 2020
Published in Economic Thought 10.1
John R. Stinespring
Daniel Kahneman’s book Thinking, Fast and Slow (2011) has had a worldwide impact. The book’s insights are profound and have changed the thinking of both decision scientists and general audiences about how choices are made. Kahneman, however, claims that standard …
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Posted for review 14 Oct 2020
Published
The Realism of Islamic Economics: Abbas Mirakhor’s Methodological Structure of Islamic Economics (withdrawn)
Muhammad Sholihina & Hafas Furqani
This article aims to explore and elaborate on the structure of the Islamic Economic methodology offered by Abbas Mirakhor. For this reason, this study applies an intertectual approach to some of Abbas Mirakhor’s works which are closely related to the …
Posted for review 6 Oct 2020
Ron Wallace
Critiques of Neoclassical Economics extend, unsurprisingly, to its mathematical structure. The discussion has largely focused on General Equilibrium Theory (GET), a set of differential equations developed by Léon Walras over a century ago. Internally consistent, but highly unrealistic, GET lacks …
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Posted for review 6 Oct 2020
Published
Rati Mekvabishvili
The article discusses the concepts of altruism and prosocial behaviour and their importance in interdisciplinary studies of behavioural economics. The basic theoretical models and concepts of altruism in Behavioural Economic are reviewed. Altruism is shown to be a hidden and …
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Posted for review 30 Sep 2020
Published
Plumbers, designers, or dentists? A triad of metaphors and how they reflect the current debate on the role and scope of economists in society and science (withdrawn)
Felix A. Dörstelmann
The discussion on the role of economists is characterised by metaphors, which range from plumber to designer to dentist. This paper aims to clarify the meaning of these metaphors for applied economists. To this end, the source of theses metaphors, …
Posted for review 19 Aug 2020
Peter Söderbaum
Mainstream neoclassical economics as well as heterodox schools should be regarded as different kinds of “political economics”. There is no value-free economics. We therefore need to bring democracy into economics. The present challenge of sustainable development suggests that a new …
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Posted for review 20 Mar 2020
Published in Economic Thought 10.1