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Social Provisioning Process and Socio‐Economic Modeling

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  • TAE‐HEE JO

Abstract

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.
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Suggested Citation

  • Tae‐Hee Jo, 2011. "Social Provisioning Process and Socio‐Economic Modeling," American Journal of Economics and Sociology, Wiley Blackwell, vol. 70(5), pages 1094-1116, November.
  • Handle: RePEc:bla:ajecsc:v:70:y:2011:i:5:p:1094-1116
    DOI: j.1536-7150.2011.00808.x
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    File URL: http://hdl.handle.net/10.1111/j.1536-7150.2011.00808.x
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    References listed on IDEAS

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    8. Kurt Dopfer & Jason Potts, 2004. "Evolutionary realism: a new ontology for economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 11(2), pages 195-212.
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    Citations

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    Cited by:

    1. Zdravka Todorova, 2013. "Conspicuous Consumption as Routine Expenditure and its Place in the Social Provisioning Process," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1183-1204, November.
    2. Claudius Graebner, 2017. "The Complexity of Economies and Pluralism in Economics," ICAE Working Papers 69, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    3. Zdravka Todorova, 2013. "Connecting social provisioning and functional finance in a post-Keynesian–Institutional analysis of the public sector," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(1), pages 61-75.
    4. Todorova, Zdravka, 2014. "From Monetary Theory of Production to Culture-Nature Life Process:Feminist-Institutional Elaborations of Social Provisioning," MPRA Paper 54681, University Library of Munich, Germany.
    5. Faruk Ulgen, 2015. "Social provisioning and financial regulation: An Institutionalist-Minskyian agenda for reform," Post-Print halshs-01111183, HAL.
    6. Lee, Frederic, 2011. "Heterodox microeconomics and the foundation of heterodox macroeconomics," MPRA Paper 30491, University Library of Munich, Germany.
    7. Jo, Tae-Hee, 2016. "The Social Provisioning Process and Heterodox Economics," MPRA Paper 72384, University Library of Munich, Germany.
    8. Pirgmaier, Elke, 2017. "The Neoclassical Trojan Horse of Steady-State Economics," Ecological Economics, Elsevier, vol. 133(C), pages 52-61.
    9. Zdravka Todorova, 2015. "A Veblenian articulation of the monetary theory of production," Working Papers PKWP1501, Post Keynesian Economics Study Group (PKSG).
    10. Todorova, Zdravka, 2013. "Consumption as a Social Process within Social Provisioning and Capitalism: Implications for Heterodox Economics," MPRA Paper 51516, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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