Jo, Tae-Hee (2011): Social Provisioning Process and Socio-Economic Modeling.
Download (191kB) | Preview
The radical difference between orthodox and heterodox economics emanates from the different views of the capitalist socio-economic system. Economics as the science of social provisioning felicitously describes the heterodox view that economy is part of the evolving social order; social agency is embedded in the social and cultural context; a socio-economic change is driven by technical and cultural changes; and the provisioning process is open-ended. Such a perspective on economy offers ample methodological and theoretical implications for modeling the capitalist economy in a realistic manner. It lends itself especially to the micro-macro synthetic approach. Thus the objective of this paper is twofold: 1) to examine how the concept of the social provisioning process can be clarified and expanded by virtue of recent development in heterodox methodology and 2) to discuss how methodological development would nourish the heterodox modeling and theorizing of the capitalist social provisioning process.
|Item Type:||MPRA Paper|
|Original Title:||Social Provisioning Process and Socio-Economic Modeling|
|Keywords:||Social Provisioning, heterodox economics, social fabric matrix, system dynamics, social surplus approach|
|Subjects:||B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B51 - Socialist ; Marxian ; Sraffian
B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B52 - Institutional ; Evolutionary
B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology
|Depositing User:||Dr. Tae-Hee Jo|
|Date Deposited:||19. Mar 2011 19:16|
|Last Modified:||15. Feb 2013 15:30|
Adams, J. (1991). “Surplus, Surplus, Who’s got the Surplus? The Subtractivist Fallacy in Orthodox Economics.” Journal of Economics Issues 25(1): 187-97.
Archer, M.S. (1995). Realist Social Theory: The Morphogenetic Approach. Cambridge, UK: Cambridge University Press.
Baran, P.A. and P.M. Sweezy. (1965). “Economics of Two Worlds.” In On Political Economy and Econometrics: Essays in Honour of Oskar Lange, ed. Oskar Lange, pp. 5-29. Oxford: Pergamon Press.
Bortis, H. (1997). Institutions, Behaviour and Economic Theory. Cambridge, UK: Cambridge University Press.
Clark, C.M.A. (1992). “An Institutionalist Critique of Sraffian Economics.” Journal of Economic Issues 26(2): 457-68.
Colander, D. (2003). “Are Institutionalists an Endangered Species?” Journal of Economic Issues 37(1): 111-122.
Colander, D., R.P.F. Holt and J.B. Rosser. (2004). “The Changing Face of Mainstream Economics.” Review of Political Economy 16(4): 485-99.
Danermark, B., M. Ekstrom, L. Jakobsen and J.C. Karlsson. (1997). Explaining Society: Critical realism in the social science. London: Routledge.
Davis, J. B. (2006). “The Nature of Heterodox Economics.” post-autistic economics review 40: 23-30.
Dopfer, K. and J. Potts. (2004). “Evolutionary Realism: A New Ontology for Economics.” Journal of Economic Methodology 11(2): 195-212.
Dopfer, K., J. Foster and J. Potts. (2004). “Micro-Meso-Macro.” Journal of Evolutionary Economics 14(3): 263-79.
Dow, S.C. (2005). “Axioms and Babylonian Thought: A Reply.” Journal of Post Keynesian Economics 27(3): 385-91.
Dugger, W.M. (1996). “Redefining Economics: From Market Allocation to Social Provisioning.” In Political Economy for the 21st Century, ed. Charles J. Whalen, pp. 31-43. Armonk, New York: M.E. Sharpe.
Eaton, J. (1965). “Some Thoughts about Mathematical Models in Relation to Economic Theory.” In On Political Economy and Econometrics: Essays in Honour of Oskar Lange, ed. Oskar Lange, pp. 97–103. Oxford: Pergamon Press.
Elsner, W. (2007). “Why Meso? On ‘Aggregation’ and ‘Emergence’ and Why and How the Meso Level is Essential in Social Economics.” Forum for Social Economics 36(1): 1-16.
Fleetwood, S. (2011). “Sketching a Socio-Economic Model of Labour Markets.” Cambridge Journal of Economics 35: 15-38.
Georgescu-Roegen, N. (1979). “Methods in Economic Science.” Journal of Economic Issues 13(2): 317-29.
Gruchy, A.G. (1987). The Reconstruction of Economics: An Analysis of the Fundamentals of Institutional Economics. New York: Greenwood Press.
Hayden, F.G. (1982). “Social Fabric Matrix: From Perspective to Analytical Tool.” Journal of Economic Issues 16(3): 637-62.
_____ (2009a). “Rejoinder to Response by Michael J. Radzicki and Linwood Tauheed.” Journal of Economic Issues 43(4): 1062-5.
_____. (2009b). “Utilization of the Social Fabric Matrix to Articulate a State System of Financial Aid.” In Institutional Analysis and Praxis: The Social Fabric Matrix Approach, ed. T. Natarajan, W. Elsner and S. Fullwiler, pp. 209-35. New York: Springer.
Henry, J.F. (1984-85). “On Equilibrium.” Journal of Post Keynesian Economics 6(2): 214-29.
_____. (1986). “On Economic Theory and the Question of Solvability.” Journal of Post Keynesian Economics 8(3): 371-86.
_____. (2009). “The Illusion of the Epoch: Neoclassical Economics as a Case Study.” Studi e Note di Economia 1.
_____. (2011). “Sismondi, Marx, and Veblen: Precursors of Keynes.” In Heterodox Analysis of Financial Crisis and Reform, ed. Joëlle J. Leclaire, Tae-Hee Jo and Jane E. Knodell. Cheltenham, UK: Edward Elgar.
Hodgson, G.M. (2004). The Evolution of Institutional Economics. London, UK: Routledge.
Howard, M.C. and J.E. King. (1992). A History of Marxian Economics. Volume II, 1929-1990. Princeton, NJ: Princeton University Press.
Jo, T.-H. (2007). “Microfoundations of Effective Demand.” PhD thesis. University of Missouri–Kansas City, USA.
Keynes, J.M. (1994). “Economic Model Construction and Econometrics.” In The Philosophy of Economics: An Anthology, ed. Daniel M. Hausman, pp. 286–8. Cambridge: Cambridge University Press. Excerpted from letters to R.F. Harrod of 4 July 1938 and 16 July 1938.
Kregel, J.A. (2004). “Two Views on the Obstacles to Development.” Social Research 71(2).
Lawson, T. (2003). Reorienting Economics. London, UK: Routledge.
_____. (2006). “The Nature of Heterodox Economics.” Cambridge Journal of Economics 30(4): 483-505.
_____. (2009). “The Current Economic Crisis: Its Nature and the Course of Academic Economics.” Cambridge Journal of Economics 33: 759-77.
Lee, F.S. (2002). “Theory Creation and the Methodological Foundation of Post Keynesian Economics.” Cambridge Journal of Economics 26: 789-804.
_____. (2008). “Heterodox Economics.” In The New Palgrave Dictionary of Economics, ed. S.N. Durlauf and L.E. Blume. Second ed. London: Palgrave Macmillan.
_____. (2010). “Alfred Eichner’s Missing “Complete Model”: A Heterodox Micro-Macro Model of a Monetary Production Economy.” In Money and Macrodynamics: Alfred Eichner and post-Keynesian Economics, ed. M. Lavoie, L.-P. Rochon and M. Seccareccia, pp. 22-42. Armonk, NY: M.E. Sharpe.
_____ and T.-H. Jo. 2011. “Social Surplus Approach and Heterodox Economics.” Journal of Economic Issues forthcoming.
Lucas, R.E. 1980. “Methods and Problems in Business Cycle Theory.” Journal of Money, Credit and Banking 12: 696-715.
Marx, K. (1970). A Contribution to the Critique of Political Economy. New York: International Publishers.
Mayhew, A. (1998). “On the Difficulty of Evolutionary Analysis.” Cambridge Journal of Economics 22: 449-61.
McKenzie, A.J. (2009). “Evolutionary Game Theory.” In The Stanford Encyclopedia of Philosophy, ed. Edward N. Zalta. Fall 2009 ed. http://plato.stanford.edu/archives/fall2009/entries/game-evolutionary/
Mearman, A. (2002). “To What Extent is Veblen an Open-Systems Theorist?” Journal of Economic Issues 36(2): 573-80.
O’Hara, P. (1992). “A Critical Analysis of the Reproduction of Institutions within Capitalism: Integrating Macroinstitutional Themes from Marxist and Institutional Political Economy.” PhD thesis. University of Newcastle, New South Wales, Australia.
Park, M.-S. (2001). “Critical Realism.” In Encyclopedia of International Political Economy, ed. R. Jones, pp. 270-1. London: Routledge.
Polanyi, K. (1968). “The Economy as Instituted Process.” In Primitive, Archaic and Modern Economies: Essays of Karl Polanyi, ed. George Dalton, pp. 139-74. Garden City. NY: A Doubleday Anchor Original.
Power, M. (2004). “Social Provisioning as a Starting Point for Feminist Economics.” Feminist Economics 10(3): 3-19.
Radzicki, M.J. (2003). “Mr. Hamilton, Mr. Forrester, and a Foundation for Evolutionary Economics.” Journal of Economic Issues 37(1): 133-73.
Radzicki, M.J. (2010). “Was Alfred Eichner a System Dynamicist?” In Money and Macrodynamics, ed. M. Lavoie, L.-P. Rochon and M. Seccareccia, pp. 3-21. Armonk, New York: M.E. Sharpe.
Rima, I.H. 1994. “The Role of Numeracy in the History of Economic Analysis.” Journal of the History of Economic Thought 16: 188-201.
Robbins, L. (1932). An Essay on the Nature and Significance of Economic Science. London: Macmillan.
Robinson, J.V. (1980). “History versus Equilibrium.” In Collected Economic Papers. Vol. V, pp. 48-58. Cambridge, MA: The MIT Press.
Solow, R. (1956). “A Contribution to the Theory of Economic Growth.” Quarterly Journal of Economics 70(1): 65-94.
Stevenson, R.E. (1987). “Institutional Economics and the Theory of Production.” Journal of Economic Issues 21(4): 1471-93.
Sugden, R. (2001). “The Evolutionary Turn in Game Theory.” Journal of Economic Methodology 8(1): 113-30.
_____. (2002). “Credible Worlds: the Status of Theoretical Models.” In Fact and Fiction in Economics: Models, Realism, and Social Construction, ed. U. Mäki, pp. 107-36. Cambridge, UK: Cambridge University Press.
Tilman, R. (1996). The Intellectual Legacy of Thorstein Veblen: Unsolved Issues. London, UK: Greenwood Press.
Varoufakis, Y. (2008). “Capitalism According to Evolutionary Game Theory: The Impossibility of a Sufficiently Evolutionary Model of Historical Change.” Science & Society 72(1): 63-94.
Veblen, T.B. (1909). “The Limitations of Marginal Utility.” Journal of Political Economy 17(9): 620-36.
Veblen, T.B. 1961. The Place of Science in Modern Civilization and Other Essays. New York: Russell & Russell.