Heterodox Economics Newsletter, No. 146

ISSUE 146 | April 29, 2013 | WEB | PDF | Heterodox Economics Directory


In addition to major (inter)national annual conferences, there are some regional conferences (mostly within the US territory) in which many heterodox economists participate. For example, URPE and ASE have organized a good number of heterodox economics sessions at the Eastern Economic Association Annual Conference (see the 2013 conference program here). AFIT has also been a major association at the Western Social Science Association annual conferences for the past several decades. A group of heterodox economists at the University of Missouri-Kansas City, in cooperation with AFEE, AFIT, ASE, and URPE, is trying to organize various heterodox sessions at the Missouri Valley Economics Association annual conferences in October. It would be “of great benefit in advancing the scholarship in alternative methods of economic analysis, as well as strengthening community ties.”  If you have a research paper to present and wish to meet  like-minded heterodox economists in a congenial environment, you might consider participating in the MVEA conference.

Unless you’ve been living in a cave somewhere, you are probably well aware that the UMass-Amherst Economics Department has been in the media spotlight owing to a study debunking a work published by two Harvard economists, Reinhart and Rogoff.  We are always encouraged when heterodox economics and programs gain much needed publicity.  We especially want to congratulate Thomas Herndon the lead author and graduate student who uncovered the main (Excel) errors in R&R’s study. We wish policy makers around the world would reconsider their austerity policies which are based upon empirically invalid mainstream research. Also note that many heterodox economists have long argued against such a religious view on “balanced budget”’ from various theoretical viewpoints (see, for example, Nersisyan and Wray’s article published in 2010).

While we are excited about all of the attention this brings to heterodox economics and the UMass program, we are dismayed and somewhat disappointed regarding a quote from a follow-up article about their program in the Washington Post.  While we understand that comments are often taken out of context, we believe that heterodox economists should be united in our efforts to break the hegemony of mainstream economics.  Mainstream media coverage is rare for heterodox economics, so let us use those opportunities to promote all heterodox economics and programs.  Let’s have the debates in professional settings where we can talk to each other to better understand opposing viewpoints.  The global financial crisis has given us an opportunity to take on the orthodoxy, let’s not waste it.

Lastly, we would like to call your attention to a new book by Hyman Minsky.  Yes, you read that right.  The Levy Institute has just published a collection of Minksy’s papers on full employment policy.   This raises an interesting question: if Minsky can posthumously publish a book, can he also posthumously receive the Nobel prize in economics?

In solidarity,

Tae-Hee Jo and Ted P. Schmidt, Editors

Posted in Research

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Dr. Tae-Hee Jo

Associate Professor
Economics and Finance Department
SUNY Buffalo State
1300 Elmwood Ave.
Buffalo, NY 14222

o: Classroom Building B203
t: 716-878-4514
e: taeheejo [at] gmail [dot] com
e: joth [at] buffalostate [dot] edu


The Routledge Handbook of Heterodox Economics (2017)

Essays in Honor of Frederic S. Lee

Advancing the Frontiers of Heterodox Economics: Essays in Honor of Frederic S. Lee (2015)

Marx, Veblen, and Foundations of Heterodox Economics

Marx, Veblen, and the Foundations of Heterodox Economics: Essays in Honor of John F. Henry (2015)

Heterodox Analysis of Financial Crisis and Reform (2011)

Heterodox Analysis of Financial Crisis and Reform (2011)