Routledge Handbook of Heterodox Economics (2017)

9781138899940The Routledge Handbook of Heterodox Economics, edited by Tae-Hee Jo, Lynne Chester, and Carlo D’Ippoliti. London and New York: Routledge. August 2017. [publisher website][Download a flyer with discount code][Google Books Preview][TOC, Notes on contributors][Index] [EAEPE (European Association for Evolutoinary Political Economy) podcast intereview  (Carlo D’Ippoliti)]


The Routledge Handbook of Heterodox Economics is a collection of essays written by authors representing a wide range of theoretical perspectives within heterodox economics—that is, Marxian-radical political economics, Post Keynesian-Sraffian economics, institutionalist-evolutionary economics, feminist economics, social economics, Régulation theory, the Social Structure of Accumulation approach, ecological economics, and combinations of these traditions. Contributions throughout the Handbook explore these different theoretical perspectives to explain the structural properties and dynamics of capitalism, as well as to propose economic and social policies for benefit of the majority of the population.

The Handbook aims, first, to provide realistic and coherent theoretical frameworks—as an alternative to that provided by the conventional (orthodox) perspective that dominates the teaching of economics and has informed much contemporary policy—to understand the capitalist economy in a constructive and forward-looking manner; second, to delineate the future directions, as well as the current state, of heterodox economics; third, to provide both ‘heat and light’ on controversial issues, drawing out the commonalities and differences among different heterodox economic approaches; forth, to envision transformative economic and social policies for the majority of the population; and, fifth, to explain why economics is, and should be treated as, a social science.

The 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.

Table of Contents

Notes on Contributors

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

  1. Social Provisioning Process: A Heterodox View of the Economy
    Tae-Hee Jo and Zdravka Todorova
  1. The Social Surplus Approach: Historical Origins and Present State
    Nuno Ornelas Martins
  1. Accumulation Regimes
    Agnès Labrousse and Sandrine Michel
  1. Monetary Theories of Production
    Marco Veronese Passarella
  1. The Principle of Effective Demand: Marx, Keynes, Kalecki and Beyond
    Eckhard Hein
  1. A Brief History of Heterodox Theories of Value
    Ajit Sinha
  1. Theories of Prices and Alternative Economic Paradigms
    Carlo D’Ippoliti
  1. Heterodox Theories of Distribution
    Scott Carter
  1. The Micro-Macro Link in Heterodox Economics
    Claudius Gräbner and Jakob Kapeller

Part III: The Anatomy of Capitalism

  1. Society and Its Institutions
    John F. Henry
  1. Heterodox Economics and Theories of Interactive Agency
    Mary V. Wrenn
  1. Households in Heterodox Economic Theory
    Zdravka Todorova
  1. A Heterodox Theory of the Business Enterprise
    Tae-Hee Jo
  1. Heterodox Theories of Business Competition and Market Governance
    Tuna Baskoy
  1. A Marxian Understanding of the nature and Form of Dominant Capitalist Legal Institutions
    Lorraine Talbot
  1. Money and Monetary Regimes
    Pavlina R. Tcherneva
  1. Banks in Developing Countries
    Radha Upadhyaya
  1. Shadow Banking
    Benjamin Wilhelm
  1. The Informal Economy in Theory and Policy: Prospects for Well-being
    Elizabeth Hill
  1. Inequality and Poverty
    Marcella Corsi and Giulio Guarini

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

  1. The Accumulation of Capital: An Analytical and Historical Overview
    Ramaa Vasudevan
  1. A Heterodox Reconstruction of Trade Theory
    Yan Liang
  1. Analyzing the Organization of Global Production: Thoughts from the Periphery
    Víctor Ramiro Fernández and Gabriel Brondino
  1. Labor Processes and Outcomes: An Institutional-Heterodox Framework
    Siobhan Austen
  1. Heterodox Theories of the Business Cycle
    Matías Vernengo
  1. Heterodox Theories of Economic Growth
    Özgür Orhangazi
  1. Financialization and the Crises of Capitalism
    Petra Dünhaupt
  1. Theories of International Development: The Post Keynesian and Marxian Alternatives
    John Marangos
  1. Energy, Environment, and the Economy
    Anders Ekeland and Bent Arne Sæther

Part V: Transforming the Capitalist Social Provisioning Process

  1. An Exit Strategy from Capitalism’s Ecological Crisis
    Lynne Chester
  1. Restructuring Financial Systems with Human Advancement in Mind
    Wesley C. Marshall
  1. Rethinking the Role of the State
    Anna Klimina
  1. The Twenty-First Century Capitalist Revolution: How the Governance of Large Firms Shapes Prosperity and Inequality
    Jordan Brennan
  1. Achieving Full-Employment: History, Theory, and Policy
    John Marsh, Timothy Sharpe, and Bruce Philp
  1. Social Welfare and Social Control
    Andrew Cumbers and Robert McMaster

Part VI: Conclusion

  1. Heterodox Economics as a Living Body of Knowledge: Community, (In)Commensurability, Critical Engagement, and Pluralism
    Jamie Morgan and John Embery


Posted in Research
Dr. Tae-Hee Jo

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

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

Spring 2019 office hours:
MW 1:00 – 2:00 PM and
W 4:30 – 5:30 PM


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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)

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