English Abstract: Amartya Sen is often described as an insightful critic of mainstream economics, and in particular, his work in development economics, alongside the construction of the capabilities approach, has been associated with endeavors to revisit both the theory and practice of the...

This article is a review essay of Karl Mittermaier’s 'The Hand Behind the Invisible Hand', first written as a PhD thesis that was submitted in 1987 and finally published in 2020. The essay examines the main question upon which Mittermaier focuses, namely whether the institutional framework...

The logic of economic inquiry requires two distinct research programs. One program treats economic life in terms of invariant formal categories across time and place. The other program treats the continual of novelty and turbulence through time through human interaction. These programs are not...

Despite its important contributions to economic thought, namely in the field of spatial economics and economics of development, Francois Perroux, one of the most important French economists of the 20st century, remains today poorly appreciated and frequently unrecognized. This paper tends to...

A pluralist approach to economics is both necessary from an academic as well a policy point of view. From an academic viewpoint pluralism can be understood as the outcome of competition and specialization in the search for new ideas that can deal with imperfections of the real world. From a...

This paper is a critical examination of the notion of equilibrium in the classical theory of value. It highlights the theoretical importance as well as the problems associated with the notion of equilibrium in the classical theory and goes on to argue that Sraffa presents a theory of value...

The paper argues that a formal, and fruitful, historical analogy can be drawn between economics and a religious hierarchy, most notably the mediaeval Catholic church. This idea was fully developed in Freeman (2007), ‘Heavens Above: what equilibrium means for economics’, in Mosini, V (ed)...

This paper discusses the relation between law and contingency in the formation of value. It begins from a much-ignored assertion of Marx, repeated throughout his works, that the equality of supply and demand is contingent and their non-equality constitutes their law. This highly complex and...

This paper undertakes a critical examination of the concept of 'centre of gravity' as adapted by economics from classical mechanics, relating it to the idea of 'long-run' profits, prices and quantities, as presented in the work of the post-Sraffians.(1) It will also address the origin of this...