IDEAS home Printed from https://ideas.repec.org/a/spr/eaiere/v21y2024i1d10.1007_s40844-024-00274-2.html
   My bibliography  Save this article

Overarching economic theory and economics education in times of crisis

Author

Listed:
  • Naoki Yoshihara

    (University of Massachusetts Amherst
    Hitotsubashi University
    Kochi University of Technology)

Abstract

In this paper, we have argued how research and education in economics should be conducted under the current circumstances where the “crisis of capitalism” is being referred to in mainstream media. Though major research trends in mainstream economics are characterized by the development of piece-meal social engineering in recent days, research on an overarching theory of the capitalist economy and its educational dissemination should be still highly desired, to build an intellectual infrastructure for deliberative democratic decision-making by the public. Given this basic standpoint, we have discussed the importance of the issue of how to discuss capital from a bird’s eye view of the capitalist economy.

Suggested Citation

  • Naoki Yoshihara, 2024. "Overarching economic theory and economics education in times of crisis," Evolutionary and Institutional Economics Review, Springer, vol. 21(1), pages 81-95, April.
    • Handle: RePEc:spr:eaiere:v:21:y:2024:i:1:d:10.1007_s40844-024-00274-2
    DOI: 10.1007/s40844-024-00274-2
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s40844-024-00274-2
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s40844-024-00274-2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Foley Duncan K., 1994. "A Statistical Equilibrium Theory of Markets," Journal of Economic Theory, Elsevier, vol. 62(2), pages 321-345, April.
    2. Smale, Steve, 1976. "A convergent process of price adjustment and global newton methods," Journal of Mathematical Economics, Elsevier, vol. 3(2), pages 107-120, July.
    3. Calvo, Guillermo A., 1978. "On the indeterminacy of interest rates and wages with perfect foresight," Journal of Economic Theory, Elsevier, vol. 19(2), pages 321-337, December.
    4. Kurose, Kazuhiro, 2021. "Models of structural change and Kaldor’s facts: Critical survey from the Cambridge Keynesian perspective," Structural Change and Economic Dynamics, Elsevier, vol. 58(C), pages 267-277.
    5. John E. Roemer, 1994. "A Future for Socialism," Politics & Society, , vol. 22(4), pages 451-478, December.
    6. Piyusha Mutreja, 2014. "Equipment And Structures Capital: Accounting For Income Differences," Economic Inquiry, Western Economic Association International, vol. 52(2), pages 713-731, April.
    7. Kornai, Janos, 2013. "Dynamism, Rivalry, and the Surplus Economy: Two Essays on the Nature of Capitalism," OUP Catalogue, Oxford University Press, number 9780199334766, Decembrie.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sjur Didrik Flåm, 2020. "Emergence of price-taking Behavior," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(3), pages 847-870, October.
    2. Theodosio, Bruno Miller & Weber, Jan, 2023. "Back to the classics: R-evolution towards statistical equilibria," ifso working paper series 28, University of Duisburg-Essen, Institute for Socioeconomics (ifso).
    3. Mingtang Liu, 2024. "Amplified State Capitalism in China: Overproduction, Industrial Policy and Statist Controversies," Development and Change, International Institute of Social Studies, vol. 55(2), pages 191-218, March.
    4. Scharfenaker, Ellis, 2020. "Implications of quantal response statistical equilibrium," Journal of Economic Dynamics and Control, Elsevier, vol. 119(C).
    5. E. Samanidou & E. Zschischang & D. Stauffer & T. Lux, 2001. "Microscopic Models of Financial Markets," Papers cond-mat/0110354, arXiv.org.
    6. Corrado Di Guilmi & Laura Carvalho, 2015. "The dynamics of leverage in a Minskyan model with heterogenous firms," Working Paper Series 28, Economics Discipline Group, UTS Business School, University of Technology, Sydney.
    7. Tanaka, Ken'ichiro & Toda, Alexis Akira, 2015. "Discretizing Distributions with Exact Moments: Error Estimate and Convergence Analysis," University of California at San Diego, Economics Working Paper Series qt7g23r5kh, Department of Economics, UC San Diego.
    8. Mehrdad Vahabi, 2021. "Introduction: a special issue in honoring Janos Kornai," Public Choice, Springer, vol. 187(1), pages 1-13, April.
    9. Hideaki AOYAMA & Hiroshi IYETOMI & Wataru SOUMA & Hiroshi YOSHIKAWA, 2015. "Application of the Concept of Entropy to Equilibrium in Macroeconomics," Discussion papers 15070, Research Institute of Economy, Trade and Industry (RIETI).
    10. Naoki Yoshihara & Roberto Veneziani, 2009. "Exploitation as the Unequal Exchange of Labour: An Axiomatic Approach," Working Papers 655, Queen Mary University of London, School of Economics and Finance.
    11. Mehrdad Vahabi, 2022. "In Janos Kornai’s memory," Public Choice, Springer, vol. 190(3), pages 265-271, March.
    12. Tamotsu Onozaki, 2018. "Nonlinearity, Bounded Rationality, and Heterogeneity," Springer Books, Springer, number 978-4-431-54971-0, July.
    13. Luis Daniel Torres-González, 2020. "The Characteristics of the Productive Structure Behind the Empirical Regularities in Production Prices Curves," Working Papers 2016, New School for Social Research, Department of Economics.
    14. Gaetano Cuomo, 2011. "NOTE BIBLIOGRAFICHE: JOSSA B. (2010), Esiste un'alternativa al capitalismo? L'impresa democratica e l'attualitá del marxismo, Manifestolibri, Roma," Moneta e Credito, Economia civile, vol. 64(254), pages 177-180.
    15. Tuinstra, J., 2000. "Price adjustment in a model of monopolistic competition," CeNDEF Working Papers 00-13, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
    16. van der Laan, G. & Talman, A.J.J., 1985. "Adjustment processes for finding economic equilibria," Research Memorandum FEW 174, Tilburg University, School of Economics and Management.
    17. Costas Panayotakis, 2012. "Scarcity, capitalism and the promise of economic democracy," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 3(1), pages 104-111.
    18. Naoki Yoshihara & Se Ho Kwak, 2019. "Sraffian Indeterminacy in General Equilibrium Revisited," UMASS Amherst Economics Working Papers 2019-04, University of Massachusetts Amherst, Department of Economics.
    19. Ye, Wei & Xu, Yueru & Shi, Xiaomeng & Shiwakoti, Nirajan & Ye, Zhirui & Zheng, Yuan, 2024. "A macroscopic safety indicator for road segment: application of entropy theory," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 642(C).
    20. Herings, Jean-Jacques & van der Laan, Gerard & Venniker, Richard, 1998. "The transition from a Dreze equilibrium to a Walrasian equilibrium1," Journal of Mathematical Economics, Elsevier, vol. 29(3), pages 303-330, April.

    More about this item

    Keywords

    Overarching economic theory; A bird’s eye view of the capitalist economy; Intellectual infrastructure for deliberative democratic decision-making by the public;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • A2 - General Economics and Teaching - - Economic Education and Teaching of Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:eaiere:v:21:y:2024:i:1:d:10.1007_s40844-024-00274-2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.