The Routledge Handbook of Heterodox Economics presents a comprehensive overview of the latest work on economic theory and policy from a ‘pluralistic’ heterodox perspective.

Contributions throughout the Handbook explore different theoretical perspectives including: Marxian-radical political economics; Post Keynesian-Sraffian economics; institutionalist-evolutionary economics; feminist economics; social economics; Régulation theory; the Social Structure of Accumulation approach; and ecological economics. They explain the structural properties and dynamics of capitalism, as well as propose economic and social policies for the benefit of the majority of the population. This book aims, firstly, to provide realistic and coherent theoretical frameworks to understand the capitalist economy in a constructive and forward-looking manner. Secondly, it delineates the future directions, as well as the current state, of heterodox economics, and then provides both ‘heat and light’ on controversial issues, drawing out the commonalities and differences among different heterodox economic approaches. The volume also envisions transformative economic and social policies for the majority of the population and explains why economics is, and should be treated as, a social science.

This Handbook will be of compelling interest to those, including students, who wish to learn about alternative economic theories and policies that are rarely found in conventional economics textbooks or discussed in the mainstream media, and to critical economists and other social scientists who are concerned with analyzing pressing socio-economic issues.

part I|26 pages


chapter 1|24 pages

The state of the art and challenges for heterodox economics

ByTae-Hee Jo, Lynne Chester, Carlo D’Ippoliti

part II|133 pages

The theoretical cores of heterodox economics

chapter 2|12 pages

Social provisioning process

A heterodox view of the economy
ByTae-Hee Jo, Zdravka Todorova

chapter 3|13 pages

The social surplus approach

Historical origins and present state
ByNuno Ornelas Martins

chapter 4|16 pages

Accumulation regimes

ByAgnès Labrousse, Sandrine Michel

chapter 5|14 pages

Monetary theories of production

ByMarco Veronese Passarella

chapter 6|17 pages

The principle of effective demand

Marx, Kalecki, Keynes, and beyond
ByEckhard Hein

chapter 7|11 pages

Heterodox theories of value

A brief history
ByAjit Sinha

chapter 8|15 pages

Theories of prices and alternative economic paradigms

ByCarlo D’Ippoliti

chapter 9|18 pages

Heterodox theories of distribution

ByScott Carter

chapter 10|15 pages

The micro—macro link in heterodox economics

ByClaudius Gräbner, Jakob Kapeller

part III|141 pages

The anatomy of capitalism

chapter 11|13 pages

Society and its institutions

ByJohn F. Henry

chapter 12|12 pages

Heterodox economics and theories of interactive agency 1

ByMary V. Wrenn

chapter 13|11 pages

Households in heterodox economic theory

ByZdravka Todorova

chapter 14|14 pages

A heterodox theory of the business enterprise

ByTae-Hee Jo

chapter 15|12 pages

Heterodox theories of business competition and market governance

ByTuna Baskoy

chapter 17|14 pages

Money and monetary regimes 1

ByPavlina R. Tcherneva

chapter 18|13 pages

Banks in developing countries

ByRadha Upadhyaya

chapter 19|12 pages

Shadow banking

ByBenjamin Wilhelm

chapter 20|14 pages

The informal economy in theory and policy

Prospects for well-being
ByElizabeth Hill

chapter 21|12 pages

Inequality and poverty

ByMarcella Corsi, Giulio Guarini

part IV|124 pages

The dynamics of capitalist socio-economic structure

chapter 22|15 pages

The accumulation of capital

An analytical and historical overview
ByRamaa Vasudevan

chapter 23|13 pages

A heterodox reconstruction of trade theory

ByYan Liang

chapter 24|13 pages

Analyzing the organization of global production

Thoughts from the periphery
ByVíctor Ramiro Fernández, Gabriel Brondino

chapter 25|14 pages

Labor processes and outcomes

An institutional-heterodox framework
BySiobhan Austen

chapter 26|13 pages

Heterodox theories of the business cycle

ByMatías Vernengo

chapter 27|13 pages

Heterodox theories of economic growth

ByÖzgür Orhangazi

chapter 28|16 pages

Financialization and the crises of capitalism

ByPetra Dünhaupt

chapter 29|12 pages

Theories of international development

The Post Keynesian and Marxian alternatives
ByJohn Marangos

chapter 30|13 pages

Energy, environment, and the economy

ByAnders Ekeland, Bent Arne Sœther

part V|85 pages

Transforming the capitalist social provisioning process

chapter 31|15 pages

An exit strategy from capitalism's ecological crisis

ByLynne Chester

chapter 32|14 pages

Restructuring financial systems with human advancement in mind

ByWesley C. Marshall

chapter 33|13 pages

Rethinking the role of the state

ByAnna Klimina

chapter 34|17 pages

The twenty-first century capitalist revolution

How the governance of large firms shapes prosperity and inequality
ByJordan Brennan

chapter 35|11 pages

Achieving full employment

History, theory, and policy
ByJohn Marsh, Timothy Sharpe, Bruce Philp

chapter 36|13 pages

Social welfare and social control

ByAndrew Cumbers, Robert McMaster

part VI|21 pages


chapter 37|19 pages

Heterodox economics as a living body of knowledge

Community, (in)commensurability, critical engagement, and pluralism
ByJamie Morgan, John Embery