Post-Keynesian Institutionalism (PKI), a synthesis of post Keynesian and institutional economics, emerged in the USA as a strand of evolutionary economics in the early 1980s and has attracted increasing attention in recent years. This article examines milestones in the development of PKI,...

Probably one of the most controversial contributions to the literature of international trade theory was offered by the late social economist John Culbertson. In his view, low wage competition among corporations in a world characterized by capital mobility and massive trade deficits undermines...

Economists in the institutional tradition have spent a great deal of time dealing with the notions of governance and the state. Yet that school of thought has yet to develop a complete unified theory of either governance or the state. In the work Commons and Veblen we see very different levels...

The theory of comparative institutional advantage posits that certain types of firms locate production facilities in a particular location and avoid other locations due to unique institutional advantages and disadvantages. In sub-Saharan Africa, neoliberal policies, weak and corrupt states, and...

This article discusses the relationship between classical pragmatism, political economy and economic policy. Classical pragmatism is contrasted with vulgar meanings and uses of the term pragmatism. Classical pragmatism aims at a deep, substantive theoretical understanding of real-world economic...

This paper examines Robert Heilbroner’s 1950 article in Harper’s Magazine on poverty in the USA. It argues that this piece was the first attempt to raise popular concerns about poverty in the USA after World War II, and in many ways sought to do what John Kenneth Galbraith’s The Affluent...

The rhetoric of the Ownership Society defined by the Cato Institute has been integral to framing the motivation behind the Social Security reform introduced by George W. Bush. This motivational frame involves a fierce advocacy of what we will call ‘neoliberal autonomy’ in a Hayekian and...

Assessment of inequality measurement is the focus for this survey. All measures of inequality must be evaluated based on a set of desirable properties. More importantly, the usefulness of statistical inference for measures of inequality needs examination.

While most heterodox economists endorse some amount of policy activism, there is no unified conception of the state and public policy in heterodox economics. To help clarify the similarities and differences within heterodoxy -- and between heterodox and mainstream economics -- a panel addressing...