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Keynesianism: Mainstream Economics Or Heterodox Economics?
STUDIA EKONOMICZNE 1 ECONOMIC STUDIES NR 1 (LXXXIV) 2015 Izabela Bludnik* KEYNESIANISM: MAINSTREAM ECONOMICS OR HETERODOX ECONOMICS? INTRODUCTION The broad area of research commonly referred to as “Keynesianism” was estab- lished by the book entitled The General Theory of Employment, Interest and Money published in 1936 by John Maynard Keynes (Keynes, 1936; Polish ed. 2003). It was hailed as revolutionary as it undermined the vision of the functioning of the world and the conduct of economic policy, which at the time had been estab- lished for over 100 years, and thus permanently changed the face of modern economics. But Keynesianism never created a homogeneous set of views. Con- ventionally, the term is synonymous with supporting state interventions as ensur- ing a higher degree of resource utilization. However, this statement is too general for it to be meaningful. Moreover, it ignores the existence of a serious divide within the Keynesianism resulting from the adoption of two completely different perspectives concerning the world functioning. The purpose of this paper is to compare those two Keynesian perspectives in the context of the separate areas of mainstream and heterodox economics. Given the role traditionally assigned to each of these alternative approaches, one group of ideas known as Keynesian is widely regarded as a major field for the discussion of economic problems, whilst the second one – even referred to using the same term – is consistently ignored in the academic literature. In accordance with the assumed objectives, the first part of the article briefly characterizes the concept of neoclassical economics and mainstream economics. Part two is devoted to the “old” neoclassical synthesis of the 1950s and 1960s, New Keynesianism and the * Uniwersytet Ekonomiczny w Poznaniu, Katedra Makroekonomii i Badań nad Rozwojem ([email protected]). -
From Clicktivism to Hacktivism: Understanding Digital Activism
Information & Organization, forthcoming 2019 1 From Clicktivism to Hacktivism: Understanding Digital Activism Jordana J. George Dorothy E. Leidner Mays Business School, Texas A&M University Baylor University ABSTRACT Digital activism provides new opportunities for social movement participants and social movement organizations (SMOs). Recent IS research has begun to touch on digital activism, defining it, exploring it, and building new theory to help understand it. This paper seeks to unpack digital activism through an exploratory literature review that provides descriptions, definitions, and categorizations. We provide a framework for digital activism by extending Milbrath’s (1965) hierarchy of political participation that divides activism into spectator, transitional, and gladiatorial activities. Using this framework, we identify ten activities of digital activism that are represented in the literature. These include digital spectator activities: clicktivism, metavoicing, assertion; digital transitional activities: e-funding, political consumerism, digital petitions, and botivism; and digital gladiatorial activities: data activism, exposure, and hacktivism. Last, we analyze the activities in terms of participants, SMOs, individuals who are targeted by the activity, and organizations that are targeted by the activity. We highlight four major implications and offer four meta-conjectures on the mechanisms of digital activism and their resulting impacts, and reveal a new construct where participants digitally organize yet lack an identifying cause, which we label connective emotion. Key Words Digital activism, social activism, political participation, social movements, connective emotion, literature review 1.0 Introduction Not long ago, activism to promote social movements was relegated to demonstrations and marches, chaining oneself to a fence, or writing to a government representative. Recruiting, organizing, and retaining participants was difficult enough to ensure that often only largest, best supported movements thrived and creating an impact often took years. -
Emergency Unemployment Compensation (EUC08): Current Status of Benefits
Emergency Unemployment Compensation (EUC08): Current Status of Benefits Julie M. Whittaker Specialist in Income Security Katelin P. Isaacs Analyst in Income Security March 28, 2012 The House Ways and Means Committee is making available this version of this Congressional Research Service (CRS) report, with the cover date shown, for inclusion in its 2012 Green Book website. CRS works exclusively for the United States Congress, providing policy and legal analysis to Committees and Members of both the House and Senate, regardless of party affiliation. Congressional Research Service R42444 CRS Report for Congress Prepared for Members and Committees of Congress Emergency Unemployment Compensation (EUC08): Current Status of Benefits Summary The temporary Emergency Unemployment Compensation (EUC08) program may provide additional federal unemployment insurance benefits to eligible individuals who have exhausted all available benefits from their state Unemployment Compensation (UC) programs. Congress created the EUC08 program in 2008 and has amended the original, authorizing law (P.L. 110-252) 10 times. The most recent extension of EUC08 in P.L. 112-96, the Middle Class Tax Relief and Job Creation Act of 2012, authorizes EUC08 benefits through the end of calendar year 2012. P.L. 112- 96 also alters the structure and potential availability of EUC08 benefits in states. Under P.L. 112- 96, the potential duration of EUC08 benefits available to eligible individuals depends on state unemployment rates as well as the calendar date. The P.L. 112-96 extension of the EUC08 program does not allow any individual to receive more than 99 weeks of total unemployment insurance (i.e., total weeks of benefits from the three currently authorized programs: regular UC plus EUC08 plus EB). -
Inflation Theory: a Critical Literature Review and a New Research Agenda
Chapter 8 Inflation Theory: A Critical Literature Review and a New Research Agenda The social and economic upheavals associated with the collapse of the ‘golden age’ of capitalism stimulated important developments in the Marxian analyses of inflation.1,2 However, the interest of Marxian researchers in developing the insights of the 1970s and 1980s has declined sharply recently, along with their numbers and influence.3 This is largely due to the shift of the economic debate towards the mainstream, especially since the mid-1970s, the changing inter- ests some of the best-known non-mainstream researchers, and the long-term decline in inflation since the 1980s, which is often presented as one of the most remarkable achievements of the neoliberal (or neomonetarist) economic poli- cies (Arestis and Sawyer 1998). This essay claims that Marxian inflation theory deserves to be rediscovered, and investigated more fully, for three reasons. First, inflation poses an intrigu- ing theoretical challenge. Analyses inspired by the quantity theory of money usually have unacceptably weak foundations (especially perfect competition, full employment, and costless adjustment between static equilibria), while non-mainstream (especially Marxian) contributions are promising, but remain relatively undeveloped. Second, advances in the understanding of inflation can easily be extended to the study of deflation, and both are very important at this point in time (Moseley 1999). Third, inflation and conventional anti-inflation policies usually have high economic and social costs. They often lead to higher unemployment, lower real wages, higher rates of exploitation and to a shift the income distribution and the balance of social forces towards capital and, especially, towards financial interests. -
Congressional Record United States Th of America PROCEEDINGS and DEBATES of the 112 CONGRESS, FIRST SESSION
E PL UR UM IB N U U S Congressional Record United States th of America PROCEEDINGS AND DEBATES OF THE 112 CONGRESS, FIRST SESSION Vol. 157 WASHINGTON, TUESDAY, DECEMBER 6, 2011 No. 186 House of Representatives The House met at 10 a.m. and was endured 125 years of change, growth, day, December 4, New York Times enti- called to order by the Speaker pro tem- and service. Today, Consumers Energy tled, ‘‘How the Food Industry Eats pore (Ms. FOXX). delivers electricity and natural gas to Your Kids’ Lunch.’’ This has serious f 6.8 million of Michigan’s 10 million consequences for the 32 million chil- residents in all 68 counties of the dren who rely on school lunches, and DESIGNATION OF SPEAKER PRO State’s Lower Peninsula. often the breakfast program as well. TEMPORE For the past 125 years, Consumer En- Unfortunately, when one-third of our The SPEAKER pro tempore laid be- ergy has operated under the timeless children of school age, 6 to 19, are over- fore the House the following commu- principle: provide customers with safe, weight or obese, this matters. nication from the Speaker: reliable, and affordable energy service. There’s no denying that the institu- WASHINGTON, DC, This principle has played an integral tional and political forces combine to December 6, 2011. role of improving the quality of life for favor giving our kids unhealthy food. It I hereby appoint the Honorable VIRGINIA generations of Michigan residents. It doesn’t just shortchange the children FOXX to act as Speaker pro tempore on this also has been responsible for the and their families with huge medical day. -
Modern Monetary Theory: a Marxist Critique
Class, Race and Corporate Power Volume 7 Issue 1 Article 1 2019 Modern Monetary Theory: A Marxist Critique Michael Roberts [email protected] Follow this and additional works at: https://digitalcommons.fiu.edu/classracecorporatepower Part of the Economics Commons Recommended Citation Roberts, Michael (2019) "Modern Monetary Theory: A Marxist Critique," Class, Race and Corporate Power: Vol. 7 : Iss. 1 , Article 1. DOI: 10.25148/CRCP.7.1.008316 Available at: https://digitalcommons.fiu.edu/classracecorporatepower/vol7/iss1/1 This work is brought to you for free and open access by the College of Arts, Sciences & Education at FIU Digital Commons. It has been accepted for inclusion in Class, Race and Corporate Power by an authorized administrator of FIU Digital Commons. For more information, please contact [email protected]. Modern Monetary Theory: A Marxist Critique Abstract Compiled from a series of blog posts which can be found at "The Next Recession." Modern monetary theory (MMT) has become flavor of the time among many leftist economic views in recent years. MMT has some traction in the left as it appears to offer theoretical support for policies of fiscal spending funded yb central bank money and running up budget deficits and public debt without earf of crises – and thus backing policies of government spending on infrastructure projects, job creation and industry in direct contrast to neoliberal mainstream policies of austerity and minimal government intervention. Here I will offer my view on the worth of MMT and its policy implications for the labor movement. First, I’ll try and give broad outline to bring out the similarities and difference with Marx’s monetary theory. -
Who Do Heterodox Economists Think They Are? Andrew Mearman Bristol
Who do heterodox economists think they are? Andrew Mearman Bristol Business School University of the West of England BS16 1QY UK E-mail: [email protected] Abstract: This paper attempts to engage with the established debate on the nature of heterodox economics. However, it starts from the position that previous attempts to classify and identify heterodox economics have been biased towards a priori definition. The paper aims to inform the discussion of the nature of heterodoxy with some empirical analysis. The paper examines survey data collected from a small/medium-sized sample of AHE members on the core concepts in economics. The paper applies factor analysis to the data. It also applies principles of biological taxonomy, and thence cluster analysis to the problem. The paper finds that within the self-identified community of self-identified heterodox economists there is little agreement as to whether members are pluralist, or what their attitude is to the mainstream. Indeed, there is little agreement on any core concepts or principles. The paper argues that there is little structure to heterodox economics beyond that provided by pre-existing (or constituent) schools of thought. Based on this study, heterodox economics appears a complex web of interacting individuals and as a group is a fuzzy set. These results would lead us to question further strict distinctions between heterodox, mainstream and pluralist economists. Keywords: heterodox economics, survey, factor analysis, cluster analysis JEL classifications: B5, C19, C83 Copyright held. Do not quote or reproduce without prior consent of the author. Draft of July 2009 Who do heterodox economists think they are? 1 Introduction What is heterodox economics? The term is now established in the literature, arguably more firmly than at any other time. -
Congressional Record United States Th of America PROCEEDINGS and DEBATES of the 112 CONGRESS, SECOND SESSION
E PL UR UM IB N U U S Congressional Record United States th of America PROCEEDINGS AND DEBATES OF THE 112 CONGRESS, SECOND SESSION Vol. 158 WASHINGTON, TUESDAY, JANUARY 24, 2012 No. 10 House of Representatives The House met at 10 a.m. and was ‘‘CBS News correspondent Clarissa ghanistan, and the little girl, as you called to order by the Speaker pro tem- Ward found one reason in the Pech Val- can see, Mr. Speaker, is looking at the pore (Mr. PAULSEN). ley. Americans lost their lives there flag. She has no idea that her daddy is f building a base called Nangalam. When dead. She will know one day that her they tried to hand over their gains to father died to prop up a corrupt leader DESIGNATION OF SPEAKER PRO the Afghan Army, the base went to named Karzai and a corrupt govern- TEMPORE ruin. ment, and then she will learn from the The SPEAKER pro tempore laid be- ‘‘Army Major Guillermo Guillen, history books as she gets into high fore the House the following commu- from southern California, is frustrated. school that no nation has ever con- nication from the Speaker: ‘You’re relying on us to do all of your quered Afghanistan and no nation will WASHINGTON, DC, security for you. You need to be par- ever conquer Afghanistan. January 24, 2012. ticipating,’ Guillen told an Afghan As we listen to the President tonight I hereby appoint the Honorable ERIK PAUL- counterpart. and he talks about the state of affairs, SEN to act as Speaker pro tempore on this ‘‘On a recent patrol, some Afghan I hope he will mention that he intends day. -
A Critical Look at the Failure of Mainstream Economics
Volume 6 Issue 1 Article 2 March 2021 A critical look at the failure of mainstream economics Joseph M. Dipoli Salem State University, [email protected] Follow this and additional works at: https://digitalcommons.usf.edu/globe Part of the Economics Commons, Education Commons, and the International Business Commons This Book Review is brought to you for free and open access by the M3 Center at the University of South Florida Sarasota-Manatee at Digital Commons @ University of South Florida. It has been accepted for inclusion in Journal of Global Business Insights by an authorized editor of Digital Commons @ University of South Florida. For more information, please contact [email protected]. Recommended Citation Dipoli, J. M. (2021). A critical look at the failure of mainstream economics. Journal of Global Business Insights, 6(1), 22-26. https://www.doi.org/10.5038/2640-6489.6.1.1073 Corresponding Author Joseph M. Dipoli, Department of Economics, Salem State University, 352 Lafayette Street Salem, MA 01970 Revisions Submission date: Apr. 12, 2019; 1st Revision: Sep. 20, 2020; 2nd Revision: Dec. 8, 2020; 3rd Revision: Feb. 27, 2021; Acceptance: Feb. 28, 2021 Dipoli: A critical look at the failure of mainstream economics A Critical Look at the Failure of Mainstream Economics Joseph M. Dipoli Department of Economy Salem State University [email protected] Book Review Foundations of real-world economics: What every economics student needs to know (2nd ed.), by John Komlos, New York, Routledge, 2019, 306 pp., $42.95 (Paperback), ISBN 9781138296541. Introduction Many people in the United States of America are dissatisfied with the outcomes of the economy and some are suggesting measures that seem socialistic. -
Long-Term Unemployment and the 99Ers
Long-Term Unemployment and the 99ers An Emerging Issues Report from the January 2012 Long-Term Unemployment and the 99ers The Issue Long-term unemployment has been the most stubborn consequence of the Great Recession. In October 2011, more than two years after the Great Recession officially ended, the national unemployment rate stood at 9.0%, with Connecticut’s unemployment rate at 8.7%.1 Americans have been taught to connect the economic condition of the country or their state to the unemployment Millions of Americans— rate, but the national or state unemployment rate does not tell known as 99ers—have the real story. Concealed in those statistics is evidence of a exhausted their UI benefits, substantial and challenging structural change in the labor and their numbers grow market. Nationally, in July 2011, 31.8% of unemployed people every month. had been out of work for at least 52 weeks. In Connecticut, data shows 37% of the unemployed had been jobless for a year or more. By August 2011, the national average length of unemployment was a record 40 weeks.2 Many have been out of work far longer, with serious consequences. Even with federal extensions to Unemployment Insurance (UI), payments are available for a maximum of 99 weeks in some states; other states provide fewer (60-79) weeks. Millions of Americans—known as 99ers— have exhausted their UI benefits, and their numbers grow every month. By October 2011, approximately 2.9 million nationally had done so. Projections show that five million people will be 99ers, exhausting their benefits, by October 2012. -
Congressional Record United States Th of America PROCEEDINGS and DEBATES of the 113 CONGRESS, SECOND SESSION
E PL UR UM IB N U U S Congressional Record United States th of America PROCEEDINGS AND DEBATES OF THE 113 CONGRESS, SECOND SESSION Vol. 160 WASHINGTON, THURSDAY, JANUARY 9, 2014 No. 5 House of Representatives The House met at 10 a.m. and was the world, many of them trafficked for This January designated as National called to order by the Speaker pro tem- labor, but increasingly for underaged Slavery and Human Trafficking Pre- pore (Mr. MESSER). girls. For young women, this is a case vention Month is a perfect time to f where they are exploited in this traf- shine a spotlight on the dark issue of ficking as well. trafficking, but awareness is only a DESIGNATION OF SPEAKER PRO Even in my work as chairman of the first step. More needs to be done. TEMPORE Foreign Affairs Committee, I have To that end, I would urge my col- The SPEAKER pro tempore laid be- learned that human trafficking is no leagues to join me in cosponsoring H.R. fore the House the following commu- longer just a problem ‘‘over there.’’ It 3344, the Fraudulent Overseas Recruit- nication from the Speaker: is a problem in our communities here. ment and Trafficking Elimination Act, It is a problem in developing econo- to combat one critical form of recur- WASHINGTON, DC, ring abuse: namely, that is unscrupu- January 9, 2014. mies, but also it is a problem in the I hereby appoint the Honorable LUKE United States and in Europe. It is a lous recruiters. By targeting the re- MESSER to act as Speaker pro tempore on scourge even in the communities that cruiters we can do a lot—these recruit- this day. -
Hacks, Leaks and Disruptions | Russian Cyber Strategies
CHAILLOT PAPER Nº 148 — October 2018 Hacks, leaks and disruptions Russian cyber strategies EDITED BY Nicu Popescu and Stanislav Secrieru WITH CONTRIBUTIONS FROM Siim Alatalu, Irina Borogan, Elena Chernenko, Sven Herpig, Oscar Jonsson, Xymena Kurowska, Jarno Limnell, Patryk Pawlak, Piret Pernik, Thomas Reinhold, Anatoly Reshetnikov, Andrei Soldatov and Jean-Baptiste Jeangène Vilmer Chaillot Papers HACKS, LEAKS AND DISRUPTIONS RUSSIAN CYBER STRATEGIES Edited by Nicu Popescu and Stanislav Secrieru CHAILLOT PAPERS October 2018 148 Disclaimer The views expressed in this Chaillot Paper are solely those of the authors and do not necessarily reflect the views of the Institute or of the European Union. European Union Institute for Security Studies Paris Director: Gustav Lindstrom © EU Institute for Security Studies, 2018. Reproduction is authorised, provided prior permission is sought from the Institute and the source is acknowledged, save where otherwise stated. Contents Executive summary 5 Introduction: Russia’s cyber prowess – where, how and what for? 9 Nicu Popescu and Stanislav Secrieru Russia’s cyber posture Russia’s approach to cyber: the best defence is a good offence 15 1 Andrei Soldatov and Irina Borogan Russia’s trolling complex at home and abroad 25 2 Xymena Kurowska and Anatoly Reshetnikov Spotting the bear: credible attribution and Russian 3 operations in cyberspace 33 Sven Herpig and Thomas Reinhold Russia’s cyber diplomacy 43 4 Elena Chernenko Case studies of Russian cyberattacks The early days of cyberattacks: 5 the cases of Estonia,