Explore fresh rea­dings, car­toons, and updates on hete­ro­dox economics—diverse per­spec­ti­ves sha­ping a human-cen­te­red eco­no­mic future!

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While pre­pa­ring this issue of the Hete­ro­dox Eco­no­mics News­let­ter I reco­gni­zed that this is the first issue in the second quar­ter of the 21st cen­tury. This means that in our last issue I clo­sed the first quar­ter with a humor-focu­sed edi­to­rial, which seems quite apt, retro­s­pec­tively ;-). I also recei­ved some neat addi­tio­nal sug­ges­ti­ons for car­toon­sas a respone, which I coll­ec­ted here, and even found one of my sub­scri­bers has published a book on the sub­ject(!), which I also included in this issue’s sec­tion on books and book series. Rela­tedly, this lat­ter sec­tion on books also con­ta­ins some intri­guing items on finance from a hete­ro­dox per­spec­tive (here and here), insti­tu­tio­nal eco­no­mics (here and here) and mar­ket power (here) that seem like ideal can­di­da­tes for your new year’s rea­ding list.

Hete­ro­dox Eco­no­mics Newsletter

Der Hete­ro­dox Eco­no­mics News­let­ter wird her­aus­ge­ge­ben von Jakob Kapel­ler und erscheint im drei­wö­chent­li­chen Rhyth­mus mit Neu­ig­kei­ten aus der wis­sen­schaft­li­chen Com­mu­nity mul­ti­pa­ra­dig­ma­ti­scher öko­no­mi­scher Ansätze. Der News­let­ter rich­tet sich an einen Kreis von mehr als 7.000 Empfänger*innen und zählt schon weit mehr als 250 Ausgaben.

In terms inte­res­t­ing rea­dings I should add that I recently spot­ted this paper, which pro­vi­des an empi­ri­cal dis­cus­sion of hys­te­re­sis in US labor mar­kets even refe­ren­cing some Post-Keyne­sian sources (occu­ring ‚pro­min­ently’ in foot­note 1 ;-) in AEJ: Macroe­co­no­mics. At first glance the paper looks inte­res­t­ing and well-exe­cu­ted. Moreo­ver, it also indi­ca­tes how para­dig­ma­tic con­fi­ne­ments bet­ween tra­di­ti­ons are slowly shif­ting and that it is pos­si­ble to publish mate­rial con­tai­ning hete­ro­dox con­cepts in key main­stream out­lets today if the empi­rics are solid and somehow in accordance with main­stream eco­no­me­tric conventions.

While it will not save the world, I see such deve­lo­p­ments as an oppor­tu­nity to pro­duc­tively inter­act with those sub­sets of main­stream eco­no­mics, that are open-min­ded enough to engage with argu­ments and con­cepts that run coun­ter clas­si­cal text­book ratio­na­les. Quite natu­rally, doing so can only be a com­ple­ment (and never a sub­sti­tute ;-) to work on expan­ding, streng­thening and diver­si­fy­ing hete­ro­dox res­arch net­works as the lat­ter pro­vide the back­bone for an „Eco­no­mics for humans“ (copy­right Julie Nel­son, see here) that hop­efully will one day domi­nate our profession ;-)

In clo­sing this review of poten­tial rea­dings, I should pro­ba­bly point out that the Hete­ro­dox Eco­no­mics Direc­tory has recei­ved an update during the win­ter break, which hop­efully acco­mo­da­tes all the feed­back we have recei­ved during the past months. We will con­ti­nue to imple­ment rol­ling updates in the now online 7th edi­tion of the Direc­tory to bet­ter and more quickly reflect chan­ges in the rich insti­tu­tio­nal land­scape of hete­ro­dox economics.

All the best and have a great 2025,

Jakob
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