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The centrality of social labor to Marxist epistemology and the need to understand relations between capitalist production, strictly defined, and incompletely marketized forms of work require a relatively broad concept of value. Not simply a theory of price, the utility of the concept of value...
In the five decades since Kuznets (1955) published his hypothesis on income inequality, a large and significant portion of the work on income distribution and inequality has involved using cross-sectional data for developmental comparisons at the intra- and international levels. Using...
The current economic crisis facing the U.S. economy, and thereby the entire world, has its origins in not just the subprime markets but is more of a systemic crisis. Its roots can be found in certain significant economic developments in the United States since the late 1970s: dramatic growth in...
The paper addresses the arguments made by Frederic Lee on heterodoxy and pluralism. It argues that the definitions of mainstream and heterodox, and consequently the differences between them, are highly problematic. Specifically it challenges Lee’s characterizations of mainstream and heterodox...
In a seminal paper on Marxian business cycle theory, Goodwin (1967) presented a model which assumed that a higher wage share leads to lower investment and thus a general economic slowdown. In contrast Kalecki (1971) was arguing that a higher wage share would have an expansionary effect because...
Frederic Lee’s laudable attempt to expand heterodox economists’ academic rights is vitiated by his narrow conception of pluralism as tolerance. The author proposes an alternative view of academic pluralism that is more consistent with the epistemological assumptions and ethical requirements...
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