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Call for Papers, Special Issue of the Review of Radical Political Economics on Full Employment

As we currently face the worst economic collapse since the great depression that has resulted in the loss of million of jobs and the highest levels of long-term unemployment since data have been collected, we invite contributors to submit proposals that address the problems of long-term structural unemployment in the United States and world wide.

We invite submissions that address, but do not need to be limited to, the following topics:

1)      What can we learn from employment outcomes across different countries and political economic regimes?
2)      To what extent can public sector action generate sustainable and high-quality employment?
3)      What kind of policies should the public sector pursue? For example should these be employment of last resort (ELR) or jobs created through some other type of “job guarantee policy,” or “permanent jobs programs” for the generation of a certain number of median wage and not last resort jobs, and how should these be financed and administered?
4)      How does this relate to broader macroeconomic policies, including taxation and industrial policy?
5)      Can “full employment” policies succeed in capitalist countries or are partial, temporary, and inadequate programs the best that can be achieved?
6)      What are the historical lessons of the New Deal employment programs in the United States and similar historic or contemporary programs and policies in other countries?
7)      What has been the role of neoclassical economic theory in undermining ideological support for full employment programs, for example vis-à-vis the “natural rate of unemployment” or “NAIRU” doctrines, and what is a proper theoretical/ideological response to these prevalent macroeconomic views?
8)      More generally, is full employment consistent with low-inflation in the United States or elsewhere?
9)      Practical proposals for increasing employment in the United States now and critiques/discussions of the current Summers/Geithner effort to achieve sustained economic growth in the United States with a massive financial sector bail-out and a temporary and limited fiscal stimulus for the broader economy.

Submissions are due by September 30, 2012, and must follow the Instructions to Contributors listed in each issue of the Review, on the RRPE section of the URPE Website, or available from the Managing Editor.  All submissions are subject to the usual review procedures and they should not be under review with any other publication.  We strongly encourage authors to send a brief title and abstract as soon as possible, so we can coordinate timely publication of the issue.

Send 4 hard copies and an electronic version in Word doc. to Hazel Dayton Gunn, Managing Editor, Review of Radical Political Economics, Dept. of City & Regional Planning, 106 W. Sibley Hall, Cornell University, Ithaca, NY 14853, USA;




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Capitalism in Crisis


A workshop organised by the Political Economy Research Group

Tuesday 15th June, 9.00-6.00pm
John Galsworthy building JG1005 and JG1006,
Penrhyn Road campus, Kingston University

World capitalism has entered its worst economic crisis since the inter-war period of the twentieth century. Is this crisis simply due to poor regulation of the financial sector or does it reflect an intrinsic instability in capitalism? Does it mark the end of Neoliberalism? What economic policy conclusions are we to draw from the crisis and what will the new rules for financial regulation, monetary policy and fiscal policy look like? Do we need minor reforms or is capitalism itself in question? The workshop will discuss the causes and the nature of the present crisis as well as the future of economic policy, with a special focus on Europe.


9.00     Registration + coffee

9.30     Opening (TBA)

10.00-12.00    The causes and the nature of the crisis, chair: Julian Wells

* John Grahl, Middlesex University:  Financial causes of the crisis

* Engelbert Stockhammer, Kingston University: Neoliberalism, income distribution and the causes of the crisis

* Alan Freeman, Association for Heterodox Economics: The causes of the USA’s long-term economic decline


13.30-15.30    The future of monetary and fiscal policy, chair: Paul Auerbach

* Victoria Chick, University College London: The return of Keynes?

* Dominique Plihon, University Paris 13: The new role of central banks in financial regulation

* Philip Arestis, Cambridge University: Current Crisis and Economic Policy Implications

16.00-18.00    The future of economic policy in Europe, chair: Engelbert Stockhammer

* Costas Lapavitsas, SOAS: Beggar your neighbour and thyself

*   Ozlem Onaran, Middlesex University:  The Crisis in Europe, East and West

* Malcolm Sawyer, Leeds University: Can the European Union ever have full employment?


The Political Economy Research Group:

The Political Economy approach highlights the role of effective demand, institutions and social conflict in economic analysis and thereby builds on Austrian, Institutionalist, Marxist, and Keynesian traditions. Economic processes are perceived to be embedded in social relations that must be analysed in the context of historical considerations, power relations and social norms.  As a consequence, a broad range of methodological approaches is employed, and cooperation with other disciplines, including history, law and other social sciences, is necessary.

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Capitalist Crisis

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