This paper compares Marx's economics with those by Sraffa, Keynes, Kalecki and Minsky. The paper takes an "ex post" view on the matter and rather looks at the output side of the respective authors, but not at the input side. This means no attempt is made at studying in a systematic way, if and...

This paper examines heterodox theories of the determinants of the value of money. Orthodox approaches that tie money's value to relative scarcity of money or to the price level are rejected as inconsistent with the monetary theory of production embraced by heterodox traditions linked to Marx,...

This paper uses a core-periphery distinction to characterize contemporary economics, economic methodology, and also today’s world economy. First, it applies the distinction to the organization of contemporary economics through an examination of the problem of explaining economics’ relations...

This paper considers whether conventional approaches to economics research may be overlooking some possibilities. While emphasizing certain types of data and analytical techniques, other aspects are downplayed. These alternatives may supplement and add value to existing work. The point is made...

Pluralism in economics appears to be a double-edged sword: we need more than one theory to grasp and explain the entire economic world, yet a plurality of possible explanations undermines the aspiration of the economic discipline to provide 'objective knowledge' in the singular of the 'one world...

The renowned institutionalist Geoffrey Hodgson has claimed inter alia that heterodox economics has failed to define its nature and scope, does not take pluralism seriously, and lacks expertise concentration to ensure quality which means it has made limited progress and is held in variable...

The article discusses the ongoing debate about a potential paradigm shift in eco-nomics. Institutions like the Institute for New Economic Thinking, the New Economics Foundation, and the Forum New Economy have been established to foster new approaches to understanding and transforming economies....