In the paper "Conversation or Monologue: On Advising Heterodox Economists," we are taken to task by Matías Vernengo on a number of issues made in Colander, Holt, and Rosser (2004b; 2007-8). In this paper, we respond to two central arguments made by Vernengo, and stand by our earlier arguments that...

Paul Davidson is one of the best known and most influential Post Keynesian economists. He has insisted throughout his career that economists should focus on real world problems and that the purpose of economic policy is to help society become more humane and civilized. He is also known for his...

Neoliberal theory rationalizes inequality as both 1) necessary for growth and 2) offset by a trickle down to lower income groups. However, benefits from income growth failed to reach most of the population for the last several decades in the United States. Instead, a negative trickle down has...

Substantial increases in income inequality contributed to the financial crisis of 2008 according to many researchers. We focus here on negative externalities from inequality that make financial well-being decline more rapidly than real income measures indicate. Housing, with its relatively...

The outstanding economist Hyman Minsky was always skeptical of Lyndon Johnson's war on poverty. It assumed, he wrote, that economic growth itself would be adequate to eliminate poverty. But Minsky believed that there were structural problems that always left too many people without jobs or with...

Price fluctuations under adaptive learning in renewable resourcemarkets such as fisheries are examined. Optimal fisherymanagement with logistic fish pOpUlation growth implies a backward-bending, discounted supply curve for bioeconomicequilibrium sustained yield. Higher discount rates bend...