Principles and Pluralist Approaches in Teaching Economics This volume is a state-of-the-art compilation of diverse and innovative perspectives, principles, and a number of practiced approaches of fields, courses, and methods of pluralist economics teaching It fosters constructive controversy aiming to incite authors and commentators to engage in fruitful debate The complex economic problems of the 21st century require a pluralist, realworld oriented, and innovative discipline of economics, capable of addressing and teaching those complex issues to students from diverse perspectives This volume addresses a number of key questions: Which models could be taught outside the equilibrium and optimality paradigm? Which methods could help to improve our understanding of the complex globalized economy? How can qualitative and quantitative methods be combined in a fruitful way to analyze complex economic problems? How can the academic isolation of mainstream economics that has developed over many decades be overcome, despite its attempted transdisciplinary imperialism? What role should knowledge from other disciplines play in teaching economics, and what is the relevance of transdisciplinarity? Through examining these issues, the editors and authors have created a pluralist but cohesive book on teaching economics in the contemporary classroom, drawing from ideas and examples from around the world Principles and Pluralist Approaches in Teaching Economics is a unique collection of diverse perspectives on the methodology and applications of pluralist economics teaching It will be a great resource for those teaching economics at various levels as well as researchers and intermediate and advanced students searching for pluralism in economics Samuel Decker is an economist and activist based in Berlin, Germany He works as a scientific assistant for the online learning platform Exploring Economics (www exploring-economics.org/en/) He holds a master’s degree in Political Economy of European Integration and is an active member of the student movement for pluralism in economics Wolfram Elsner was Professor of Economics at the University of Bremen, Germany, from 1995 until he retired in 2016 He has also worked as head of local economic development, head of the Planning Division of the Ministry of Economic Affairs of the State of Bremen, and as director of the State of Bremen government’s economic research institute from 1986 to 1995 He was president of the European Association for Evolutionary Political Economy from 2012 to 2016 Svenja Flechtner is an Assistant Professor of Pluralist Economics at the University of Siegen, Germany She has been a research assistant at Europa-Universität Flensburg and Freie Universität Berlin From 2014 to 2018, she was a council member of the European Association for Evolutionary Political Economy Routledge Advances in Heterodox Economics Series Editors: Mark Setterfield The New School for Social Research, USA Peter Kriesler University of New South Wales, Australia Over the past two decades, the intellectual agendas of heterodox economists have taken a decidedly pluralist turn Leading thinkers have begun to move beyond the established paradigms of Austrian, feminist, Institutional-evolutionary, Marxian, Post Keynesian, radical, social, and Sraffian economics – opening up new lines of analysis, criticism, and dialogue among dissenting schools of thought This cross-fertilization of ideas is creating a new generation of scholarship in which novel combinations of heterodox ideas are being brought to bear on important contemporary and historical problems Routledge Advances in Heterodox Economics aims to promote this new scholarship by publishing innovative books in heterodox economic theory, policy, philosophy, intellectual history, institutional history, and pedagogy Syntheses or critical engagement of two or more heterodox traditions are especially encouraged Microeconomic Theory A Heterodox Approach Authored by Frederic S Lee, Edited by Tae-Hee Jo The Economics of Law, Order, and Action The Logic of Public Goods Jakub Bożydar Wiśniewski Advancing Pluralism in Teaching Economics International Perspectives on a Textbook Science Edited by Samuel Decker, Wolfram Elsner and Svenja Flechtner What is Heterodox Economics? Conversations with Leading Economists Andrew Mearman, Sebastian Berger and Danielle Guizzo Principles and Pluralist Approaches in Teaching Economics Towards a Transformative Science Edited by Samuel Decker, Wolfram Elsner and Svenja Flechtner For more information about this series, please visit www.routledge.com/series/ RAHE Principles and Pluralist Approaches in Teaching Economics Towards a Transformative Science Edited by Samuel Decker, Wolfram Elsner and Svenja Flechtner First published 2020 by Routledge Park Square, Milton Park, Abingdon, Oxon OX14 4RN and by Routledge 52 Vanderbilt Avenue, New York, NY 10017 Routledge is an imprint of the Taylor & Francis Group, an informa business © 2020 selection and editorial matter, Samuel Decker, Wolfram Elsner and Svenja Flechtner; individual chapters, the contributors The right of Samuel Decker, Wolfram Elsner and Svenja Flechtner to be identified as the authors of the editorial material, and of the authors for their individual chapters, has been asserted in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988 All rights reserved No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers Trademark notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging-in-Publication Data Names: Decker, Samuel, 1990– editor | Elsner, Wolfram, editor | Flechtner, Svenja, 1985– editor Title: Principles and pluralist approaches in teaching economics : towards a transformative science / edited by Samuel Decker, Wolfram Elsner and Svenja Flechtner Description: Abingdon, Oxon ; New York, NY : Routledge, 2019 | Series: Routledge advances in heterodox economics | Includes bibliographical references and index Identifiers: LCCN 2019008485 (print) | LCCN 2019010407 (ebook) | ISBN 9781315177731 (Ebook) | ISBN 9781138037687 (hardback : alk paper) Subjects: LCSH: Economics—Study and teaching | Economics—Philosophy | Pluralism Classification: LCC HB74.5 (ebook) | LCC HB74.5 P75 2019 (print) | DDC 330.071—dc23 LC record available at https://lccn.loc.gov/2019008485 ISBN: 978-1-138-03768-7 (hbk) ISBN: 978-1-315-17773-1 (ebk) Typeset in Times New Roman by Apex CoVantage, LLC Contents List of figures List of tables List of contributors List of reviewers Towards a pluralist economic education for a transformative science – introduction viii x xi xiii S A M U E L D E C KE R, WOL F RAM E L S NE R AND S VE N JA FLEC H TN ER PART I Principles for teaching pluralist economics The second opinion: an ethical approach to learning and teaching economics 11 13 ALAN FREEMAN Making the incommensurable comparable: a comparative approach to pluralist economics education 31 A N D R E A S D I MME L ME I E R, F RE DE RI CK HE US S NER , A N D R EA P Ü R C K H A U E R AND JANI NA URBAN What can teaching critical pluralist economics gain from “de-othering” sociology? 52 S T E P H A N PA N THE R Comparing paradigms on a level playing field K A R L B E T Z W I T H MART I N E HRE T 65 vi Contents It needs two eyes to see in perspective: teaching economics through the confrontation of dissenting views 79 M I C H A E L D ERRE R Economic competence, economic understanding, and reflexive judgment: a social theory of teaching teachers of economics 83 A L E X A N D E R L E NGE R, YVE T T E KE I P KE AND NILS G O LD SC H MID T PART II Approaches and building blocks Introduction to critical political economy in a multi-paradigmatic setting 99 101 J O H A N N E S JÄGE R Heterodox perspectives in teaching the European integration and crisis: critical political economy and post-Keynesianism 118 J O H A N N E S JÄGE R AND E L I S ABE T H S P RI NGL ER Ecological economics in research and teaching: a matter of theoretical and ideological perspective 138 P E T E R S Ö D ERBAUM 10 Suggestions for incorporating sustainability into the macroeconomics course 152 J A C K R E A R DON AND MARI A AL E JANDRA MAD I 11 Demand-driven ecological collapse: a stock-flow fund-service model of money, energy and ecological scale 169 J O N AT H A N BART H AND OL I VE R RI CHT E RS 12 Teaching feminist economics through student-written diaries 191 G E N N A R MI L L E R 13 Undermining the microeconomic textbook approach: steps towards competitive pluralism 215 F R A N K B E C K E NBACH 14 Functional income distribution in economic paradigms: the failure of the neoclassical approach and alternatives H A N S J Ö R G H E RR 229 Contents 15 The balance sheet approach to macroeconomics vii 243 DIRK EHNTS 16 How to teach ethics and economics to undergraduate students? 256 S T E FA N K E S T ING 17 Addressing controversies in economics instruction through interdisciplinary learning communities: the Evergreen experience 269 P E T E R D O R M AN PART III Teaching for socio-ecological transformation: economics as a transformative science? 285 18 Contours of a critical transformative science 287 S A M U E L D E C KE R 19 Transformative economics – calling for a more conscious relationship between economics and society 298 J O N AT H A N B A RT H AND F L ORI AN ROMME L 20 Tackling the roots: (economic) education for social-ecological transformations and degrowth societies 305 C H R I S TO P H S A NDE RS 21 Pluralist economics is taking shape But further steps have to follow – conclusion 323 S A M U E L D E C KE R, WOL F RAM E L S NE R AND S VE N JA FLEC H TN ER Appendix: documentation: practicing pluralism through study program accreditation Index 330 335 Figures 2.1 Network of perspectives 42 2.2 Which problem or problems are central to the economy? 44 2.3 Which ‘thing’ should inquiry start from if we want to acquire knowledge about the economy? 45 2.4 Does the perspective apply a certain mode of thought, generally, or study a focused object? 46 4.1 Closing the degree of freedom of the fpf 67 4.2 Technological progress 68 4.3 Classical macroeconomics 71 4.4 Neoclassical macroeconomics 72 4.5 Keynesian macroeconomics 73 11.1 Monetary stocks-flows and physical funds-services of the model 173 11.2 Example of logistic growth for different initial values and maximum growth rate a = 0.1 (left) and constrained production (right) following Equation (11.11) with S(t − 1) = 1 177 11.3 Time evolution of the system for different propensities to consume out of wealth 179 11.4 Bifurcation diagram for the stationary state of the biomass stock S and the consumption out of wealth – interest rate ratio cr181 11.5 Stability diagram for the ecological stability condition and the monetary stability condition for different values of consumption out of wealth cm and interest rates r with θ = 0.5, c y = 0.8, a = 0.1, γε = 1.1, S max = 100, G / p = 183 13.1 Syllabus of an introductory course in microeconomics 216 13.2 Basic architecture of microeconomic agents in the mainstream 217 13.3 Basic architecture of microeconomic agents in elementary heterodox microeconomics 218 13.4 Profit function for partial factor variation 219 13.5 Simulating exploration/adaptation for partial factor variation of a firm 221 13.6 Exploration path, and dynamic state space for partial factor variation of a firm 222 Figures 13.7 Basic architecture of microeconomic agents in advanced heterodox microeconomics 13.8 Market interaction between firms and households and complementarity to macroeconomics 14.1 Adjusted wage share (labour income in percent of GDP); selected OECD countries; 1970–2015 ix 225 226 230 334 Appendix • • • • • understand the type of teaching and study future practitioners need; are already involved in the innovation process of developing better understanding of complex adaptive economic systems to achieve policy goals; understand and have implemented processes of transformative change; are not tied to the status of a particular school of economic thought but are looking for a range of tools and approaches to be used on a “fit for purpose” basis to inform policy, programmes and projects; and are able to motivate and link in effectively to wider interests in change outside academia within the policy community, social movements, media and wider public, while also being able to work with the academic community We are supported by experts in transformational change of organisations and cultures Why are we acting now? • • There is increasing recognition amongst leaders within the profession that change is needed in economics Following the 2007/08 Crash, economists, represented by the Royal Academy, admitted to the Queen that economic models had been inadequate to represent and understand the possibility of a crash The ESRC, while issuing its recent call for proposals to develop new approaches to understanding macro-economics, noted that there is “a consensus that there was some substance to many, if not all, of the issues that have been highlighted by critics of mainstream macroeconomics.” The IMF recently published a paper entitled “Neoliberalism – oversold” questioning the benefits of some key policy directions derived from neoclassical economics There are increasing growing movements for change outside the economics profession Students have a developing and growing international campaign to reform economics teaching to deliver a more pluralist curriculum The sustainable development community are promoting the need to develop understanding of a sustainable economy Social movements have coalesced around such issues as tax and housing policy reform as “standard” economics is seen as delivering tax avoidance and pricing the youth out of housing Many influential people, as seen by the range and diversity of our supporters, believe reform is needed in how economics is taught References Abramowitz, M et al (1992): “Plea for a Pluralist and Rigorous Economics”, American Economic Review 82(2), xxxv Decker, S., Elsner, W and Flechtner, S (eds, 2018): Advancing Pluralism in Teaching Economics International Perspectives on a Textbook Sciences London and New York: Routledge Index Note: numbers in italic indicate figures and numbers in bold indicate tables on the corresponding pages 2030 Agenda for Sustainable Development 291, 292 abstraction 105, 108 acceleration 307, 308 accounting 244, 245, 246, 247, 248 accumulation 106, 112 Adam, C 243 Aerni, A 195, 196, 197 aggregate demand-aggregate supply (AD-AS) model 250 Allen, M 245 androcentric bias in economics 193, 194; and feminist economics 192; ‘Women in the Economy’ class 202–206 anti-crisis policy 127, 132 approaches: balance sheet 170, 244, 245, 246, 247, 248; Chinese 23; confrontational 79, 80; course-related 8; didactical 8; didactical principles and 8; of economic sociology 56; feminist empiricist 192; free market 104; and “judgement” 57, 58; method-related 8; network of perspectives 41, 42, 43, 45; non-specialization 19; one-field didactical 5; paradigm-comparing 65; to philosophy of science 103; reflexive 86–92; see also critical political economy (CPE); paradigm-comparing approaches; post-Keynesian economics Aristotle 33, 38 Association for Heterodox Economics (AHE) 15, 16 Association to Advance Collegiate Schools of Business (AACSB) 257 austerity-oriented policy 164–165 Austrian school 43, 46 authoritarian neoliberalism 122, 130, 131, 132 axiom 41 balance sheet approach 170, 243, 244, 245, 246, 247, 248; financial crises 250; nominal value 247; ontology and epistemology 248, 249; SFC models 243; to macroeconomics 244, 245, 246, 247, 248 Bank for International Settlements (BIS) 249 banks: balance sheet approach to macroeconomics 244, 245, 246, 247, 248; credit 70; interest rates 236, 237 Barnhardt, K D 195, 198 Barth, J 4, 8, Beckenbach, F Becker, G 54, 131, 195 Beckerman, W 258 Benhabib, J 54, 55 Berik, G 257 Betz, K 4, 8, 79 Bieling, H.-J 131 Biesecker, A 256 biomass, growth functions 176, 177, 178 Birks, S 147 Bloom, B S 87, 88 Bologna Declaration 311 bounded rationality 220 Bourdieu, P 61n6, 87; field theory 56, 57, 60 Bowles, S 31, 101 Brand, U 290, 292 Braungart, M 162 336 Index Bretton Woods 112, 113, 131 Brewer, S 196, 197 Brexit 132 BRICS (Brazil, Russia, India, China and South Africa) 164 Brundtland Commission Report 155, 156 Cambridge controversy on capital 112, 121 capital 231 capital goods 106 capitalism 106, 293, 295; class struggle 108; distribution of income and wealth 111, 112; green 130; imperative to accumulate 109; regimes of accumulation 110; and unemployment 234 Carlin, W 31, 154 case studies 57, 142, 143 categories of economics: epistemological 39, 40; ontological 37, 38, 39; see also network of perspectives central banks 249, 252 chalk and talk method of teaching 195, 196, 197, 198, 201 Chalmers, A F 34 Chang, H.-J 38, 52 Chick, V 18, 56 civil society 108 class compromise 111 class struggle 107, 108, 121 classical economics: functional income distribution 234; income and employment 71, 74; price theory 66; social policy 75; tax incidence 69; technological progress 69; see also paradigm-comparing approaches classical political economy 104 classification, of economic schools 33 climate change 138, 152, 154, 162 closed social system 56 Cobb-Douglas production function 232 cognitive psychology, processes of understanding 88 colonialism 114 common knowledge 56, 59 Commons, J 53 comparative approaches 4, 8, 32; categories 37–41; contending perspectives model 32; see also approaches; economic schools; paradigm-comparing approaches; perspectives competition 59, 61, 67, 106, 118, 128, 231; monopolistic 235; pure 235, 238 complementarity 60 complexity economics 46, 47 comprehension 87, 88, 89, 93 Comte, A 53 concrete methods 41 concrete phenomena 105 confrontation of conflicting theories 79, 80, 81 conjunctural analysis 108, 109 connections, in the network of perspectives 41, 42, 43 conservative revolution 238, 239 constructivism 43; consumer 139 contending perspectives model 32 Corbyn, J 294 core and periphery 126 corporate social responsibility (CSR) 143 cost-benefit analysis (CBA) 141, 145 course-related approaches 8, 328; see also curriculum design; Evergreen State College; textbook writing Cox, R W 109 credit 70 crises 109, 110, 111, 121; from the balance sheet perspective 250; CPE perspective 124, 125; cyclical 125; of economic growth 305; European integration 122, 123; ‘meltdown into the unknown’ scenario 128; modern world relations 309, 310; post-Keynesian perspective 124; radical reformism to overcome capitalism scenario 130; small 109; social democratic (green) Europe scenario 128, 129; social structure of accumulation approach 110; structural 109, 125; see also European integration; financial crisis of 2008; Great Financial Crisis (GFC) critical political economy (CPE) 101, 102, 104, 114, 115, 119; abstractions 105, 107; authoritarian neoliberalism 130, 131, 132; capitalists 106; conjunctural analysis 108, 109; and crises 109, 110, 111, 124, 125; economic classes 105, 106; economic development 109, 110, 111; economic growth 110; general focus 120–121; geography of the global economy 113, 114; growth 109, 110, 111; inequality 111, 112, 120; labour theory of value 106; mode of Index production 105, 107; money 113; politics 107, 108; productive forces 105; radical reformism to overcome capitalism 130; social relations of production 105, 120; source of policy change 121, 122; state, the 107, 108, 109; ultimate goal of 121, 122; and uneven development 125–126; workers 106 Critical Rationalism 103, 288 Critical Realism 103, 119 critical reflexivity 91 Critical Theory 9, 45, 287, 288; cross-paradigm approaches 328 Cúrdia, V 247 current issues in macroeconomics: financial crises 250; fiscal-monetary nexus 251; quantitative easing (QE) 250; TARGET2 payment system 251 curriculum design 3, 23; coordinated studies programs 273, 274; disciplinary treatment of economics at Evergreen State College 275–277; diversity in economics courses 16, 17; “Ethics and Economics” 258, 259; fallacy of imposed choice 21, 22; fallacy of necessary complexity 23, 24; fallacy of recognised authority 22, 23; selection and rationale 17, 18; ‘Women in the Economy’ class 202–206 Curriculum Open-Access Resources in Economics (CORE) project 31, 333 curriculum theory 27n2 cyclical crises 125 Davies, P 89 Davis, J 258, 259 decision-making 144, 145; and ideological orientation 146 Decker, S 1, 2, 9, 287, 324, 329 deficit spending 122 degrowth 295, 306, 313, 314, 318n5 demand 70, 71; and food security 163; notional 77n10 DeMartino, G 18, 20, 25 democracy 149; and cost-benefit analysis (CBA) 145; and economics 141; and pluralism 323 democratic well-being 111 Denis, A 18 dependency theories 114 Dequech, D 35 Derrer, M 4, Descartes, R 311 337 Descola, P 309 developing countries: austerity policies 164–165; macroeconomic outcomes of rural sustainability in 163; urbanization 164; wage shares 230, 232 Dewey, J 275 Dialectical Critical Realism 104 dialectical historical materialism 103 diary writing 196, 197, 199, 200, 201; as feminist pedagogy 195, 196, 202–206; gender diary/journal assignment 207–208; grading rubric 209; ‘Women in the Economy’ class 202–206; ‘Women in the Economy’ class questionnaire 210–211; see also studentwritten diaries didactic methods 8, 79, 305, 306; at Evergreen State College, critiques of 279, 280; integral empowerment 91; processes of comprehension 89; reflexive approach 90, 91, 92; see also curriculum design; mental infrastructures; paradigm-comparing approaches; pluralist economic education; teaching economics Dimmelmeier, A 3, Dioun, C 60 distribution of income and wealth 111, 112 Dobusch, L 35, 38, 41 Dollar-Wall Street Regime 112, 113 domination of nature as mental infrastructure of growth 309 Dorman, P 5, Dornbusch, R 245 Dow, S 18, 34, 35, 57, 58 Dutt, A K 35, 258, 261 dynamic stochastic general equilibrium (DSGE) models 246; and financial crises 250 Earle, J 147 ecological economics 8, 43, 147, 148, 170; similarities with post-Keynesian economics 171; teaching 147, 148; see also stock-flow fund-service approach (SFFS) ecological macroeconomics 170–171 economic classes 105, 106 economic competence 83, 93 economic understanding 84 economic development 109, 110, 111 economic growth 110 economic history 58 338 Index economic literacy 85 economic modeling 171 economic perspectives, selection of 34; see also perspectives economic schools: axioms 41; classification 33; developing a typology 33; epistemological categories 39, 40, 41; ideology/values 41; and “judgement” 57, 58; methodology and methods 40, 41; network of perspectives 41, 42, 43, 45; ontological categories 37, 38, 39; see also approaches; perspectives economic sociology 52, 54, 55, 58, 59, 60, 61 embeddedness 56 economic thinking, deriving a typology for 33–34 economic understanding 84, 85, 92; analysis of 93; developing 85, 86; learning thresholds 89, 90; and mental models 88, 89; prior conceptions 89; reflexive 88, 89, 90, 91 economics: changing the definition of 159, 160; and democracy 141; education and textbook writing 2, 3; and ideology 141, 142; as an institution 26; integrity in 25; and justice 159; monism in 2; performativity of 298; philosophy of 35; pluralism in 8; and political science 61n1; promoting change in 300–302; and rational actor model 53, 54; reducing androcentric bias in 199–202; relationship with sociology 53; Schumpeter on 58; transformative 299, 300; and ‘untruths’ 25, 26 economization 299 education 305; as human capital 310, 311; reform of the European system of 310, 311; reproduction of the humannature dualism in 311, 312; for socialecological transformations and degrowth societies 312 effective demand 110 efficient market hypothesis 124 Ehnts, D 5, 8, 247 Ehret, M Elsner, W 257 emancipatory typologies 33 embeddedness 56 employment: participation rate 73, 74; see also income and employment enculturation 85, 86, 87 energy streams: stock-flow fund-service approach (SFFS) 174, 175; stocks 171 Engartner, T 79 Engels, F 103 England, P 193, 194 enterprising self 308 entrepreneurship: institutional 301–302; and sustainability 164 epistemological categories of economic schools: link between scientific inquiry and the real world 39, 40 epistemology 288 equality 111, 140, 158, 193 equations: derivation of cr = H (S*) 188; derivation of global instability for SFFS 186; derivation of stability conditions 185, 186; derivation of the Jacobian 187, 188; monetary behavioral equations for SFFS 175, 176; physical flow equations for SFFS 176, 177, 178; stability analysis of the stock-flow fundservice model 180, 181, 182 equilibrium 298 ethical responsibility of economists 13, 15, 21; informed choice 21 ethics, teaching 256 Ethics and Economics, teaching 257–259; assessment in stages 260, 261; flipping the classroom 261, 262; list of films and plays 265; motivation and resources 256–258 Etzioni, A 257, 258 European integration 118, 119, 121, 122, 123; austerity-oriented policies 123; authoritarian neoliberalism and muddling through scenario 130, 131, 132; and Brexit 132; from CPE perspective 126, 127; ‘meltdown into the unknown’ scenario 128; neoliberal 118; from PK perspective 126, 127; radical reformism to overcome capitalism 130; rescue measures 122; social democratic (green) Europe scenario 128, 129; spatial considerations 125–126; uneven development 125–126, 127 European Union 118, 293, 294, 295; anti-crisis policies 127, 132; Lisbon Agenda 311 Evergreen State College 269; context of 273–275; critiques of instructional methods 279, 280; critiques of instructional methods in introductory Index economics 279, 280; critiques of introductory economics content 278, 279; critiques of programs 278; curriculum reform 280, 281; disciplinary treatment of economics 275–277; drawbacks of its approach 280, 281; teaching economics as a service component 277, 278 everyday knowledge 108 evolutionary economics 45, 59 experience: and comprehension of meaning 89; psychic resources 314, 315 experts 153; conduct of 15; neutrality of 20, 25 exploitation 104, 120, 231 Exploring Economics 4, 5, 32 externalities 149n2 factor price frontier (fpf) 65, 66, 67, 74 comparative statics 68 factors of production 231 fallacy of imposed choice, and the fallacy of limited time 22 feminism 198 feminist economics 45, 46, 191, 191–194, 194, 257; diary/journal grading rubric 209; and gender 192; improving the economic status of women 196–199; and ‘objectivity’ 193; and occupational segregation 194; and postmodernism 192, 193; reducing androcentric bias in economics 199–202; second-wave feminism 192; teaching 95, 194, 206; ‘Women in the Economy’ class 202–206 feminist empiricist approach 192, 193 field theory 56, 57, 60, 86, 87 field-comparing approaches financial crisis of 2008 1, 13, 31, 170, 243, 293, 324 financial education 93–94n1 financial literacy 84, 85 financial sector 112, 113; balance sheet approach 244, 245, 246, 247, 248; current issues in macroeconomics 249 financialization 119 Fine, Ben 39, 40, 101 firms 139, 224, 231; under monopolistic competition 235; under pure competition 235 fiscal-monetary nexus 251 Fisher, I 247 Flassbeck, H 129 339 Fligstein, N 60 flows 171; in the stock-flow fund-service approach (SFFS) 172, 173 food security 163 Fordist welfare state 108, 123, 129, 131 Frank, R 196, 260 Frankfurt School 9, 287 free market approach 104 Freeman, A 3, 8, 13, 18, 25 functional income distribution 229, 230, 231; Cambridge (England)-Cambridge (USA) debate 233; classical explanation of 233, 234; Cobb-Douglas production function 232; development of 229, 230, 231; neoclassical explanation of 231, 232, 233, 239; post-Keynesian explanation of 234, 235, 236, 237, 238, 239 funds 172, 188n1 fund-service approach 171–172 Galbraith, J K 256 game theory 278 gender 192; -based social inequalities 192; categories 212n6; de-linking 194, 199–200, 202; and postmodernism 192, 193; and value systems 194, 199–200, 202; ‘Women in the Economy’ class 202–206 General Theory 121 geography of the global economy 113, 114 Georgescu-Roegen, N 170, 175, 183 German Advisory Council on Global Change (WBGU) 292 German Historicism 40 Germany, economic education in 94n4 Gillespie, A., Economics through Diagrams 80 glass ceiling 193, 194 global economy, geography of 113, 114 global warming 154 globalization 1, 2, 293, 323 Godley, W 172, 180 Goldschmidt, N Gordon, R., Macroeconomics 154 Gowan, P 112, 113 Grahl, J 129 Gramsci, A 108, 110 Granovetter, M 54, 56, 59, 60 Graupe, S 310 Great Financial Crisis (GFC) 243, 246, 249, 251 green capitalism 130 340 Index Greenspan, A 23 Groenewegen, J 18 gross domestic product (GDP) 141, 146, 179; rethinking the concept of 161; wage/profit shares 230 growth 109, 110, 111, 318n2; crises 305; internalization of mental infrastructures of 310, 311, 312; mental infrastructure of 309; and sustainability 161, 162 Habermas, J 256, 257 habitus 86, 87 Hahn, F H., “The Neo-Ricardians” 66 Harding, S 193, 194, 200 Harley, S 18 harm, reducing risk of as ethical responsibility 13 Harvey, D 80, 104 Hatzius, J 243 Hayes, M 259 Heise, A 39, 40 Held, V 257 Herr, H heterodox advanced course in microeconomics 222–224 heuristics 41 Heussner, F Hicks, J R 38 hierarchies in the classroom 198, 199 Hill, R., Anti-Textbook 80 historical materialism 119 history of economic thought 34, 35 Hobbes, T 38 Hodgson, G 257 Homo oeconomicus 20, 142, 310 Honneth, A 289 households 223–224 human capital 232; education as 310, 311 human nature: and reductionism 38–39; see also approaches Hunecke, M 306, 314, 315 Hyers, L 197 hypothesis generation 40, 41, 57; for the European integration crisis 124, 125 ideal types 33 ideals 41 ideological orientation 143, 144, 145; and decision-making 146; of textbooks 155 ideology 41, 141, 142, 144, 148; North on 143 immanent critique 290 imperialism 114 imposed choice, and the fallacy of limited time 22 improving the economic status of women 196–199 income and employment: social policy 75, 76; technical progress 74 income distribution 8; functional 229; paradigm-comparing approaches 70, 71, 72, 73, 74, 75, 76; see also functional income distribution increasing the wage share, policies for 239, 240 inequality 5, 111, 112, 120, 138; in Evergreen State College programs 278; gender-based 192; increasing the wage share 240 inflation 236 ‘informed choice’ 21 injustice 159 innovation systems 59 Institute for New Economic Thinking (INET) 332 institutional entrepreneurs 301–302 institutionalism 56, 140 integral empowerment 91 integrity 25 interdisciplinarity 5, 327; reforming the introductory economics course 270, 271 interest rates 122, 231, 236, 237; negative 250 interior pluralism 287, 290–293, 292 internalization of mental infrastructures of growth in mainstream education 310; education as human capital 310, 311 International Monetary Fund (IMF) 249 international political economy (IPE) 36 International Relations (IR) 36 International Society for Ecological Economics (ISEE) 147 internationalism 295, 296 introductory economics course 269, 280; critiques of Evergreen State College’s instructional methods 279, 280; critiques of Evergreen State College’s introductory economics content 278, 279; student critiques of 271, 272; two approaches to the reform of 270, 271 IPE 36 Jackson, T 154 Jäger, J 4, 8, 101, 102, 107, 119 Jahnke, M 158 Joas, H 256 Index journal writing 191, 199; as feminist pedagogy 195, 196, 202–206; gender diary/journal assignment 207–208; ‘Women in the Economy’ class 202–206; ‘Women in the Economy’ class questionnaire 210–211 Jozefowicz, J 196, 197 “judgement” 57, 58 justice 159 Kalecki, J 126, 229, 238, 239 Kapeller, J 35, 38, 41 Keen, S 39, 153 Keipke, Y Kesting, S Keynes, J M 26, 38, 70, 244; Treatise on Money 235, 236; see also postKeynesian economics Keynes effect 70, 77n8 Knight, F 53 knowledge 319n12; epistemology 288; everyday 108; see also epistemological categories of economic schools Kohlberg, L 90 Koo, R 247, 250 Kraus, E 166 Krisanthan, B 79 Kuhn, T 34, 102 La Bourva, J 244 labour theory of value 104, 106 Lage, M 196 Lakatos, I 41 land rent theory 104 Lavoie, M 172, 180, 244 law of decreasing returns 231 Lawson, T 43 learning 15; and comprehension of meaning 85, 86, 87; ethics as requirement of 15; thresholds 89, 90; see also mental infrastructures; pedagogies lecture-based teaching 197, 202 Lee, F S 18 Leijonhufvud, A., “Life among the Econ” 52 Lenger, Alexander Lenin, N 114 Leveson-Gower, H 5, liberal capitalism 104 liberal democracy 108 limited time, fallacy of 22 liquidity 236 341 MacKenzie, D 298 macroeconomics 8, 65; balance sheet approach 244, 245, 246, 247, 248; current issues in 249; ecological 170–171; fiscal-monetary nexus 251; incorporating sustainability into 160, 161, 162, 163, 164, 165, 166; negative interest rates 250; production function 231; quantitative easing (QE) 250; TARGET2 payment system 251; see also classical economics; microeconomics; neoclassical economics; post-Keynesian economics Madi, Maria A 4, 8; The Economics Curriculum: Towards a Radical Reformulation 147 mainstream approach 59 Mäki, U 39 Mälardalen University 147, 148 Malthus, T 38 Mangan, J 89 Mankiw, G 80, 271; Principles of Economics 154 Mansbridge, J J 257 marginal productivity theory of distribution 231, 232, 233 marginalism 40 Marietta, M 37 markets 59, 60; monopolistic 235, 238; in neoclassical economics 110, 114, 139; oligopolistic 235, 238; in postKeynesian economics 121; in terms of PEPs and PEOs 144, 145 markup pricing 235 Marshall, A., Principles of Economics 153 Marx, K 38, 79, 104, 107, 108; Das Kapital 101; German Ideology, The 103; Grundrisse 104, 105 Marxian economics 43, 46, 115; dialectical reasoning 104 massive open online courses (MOOCs) 32 Mathisen, J 249 McAdam 60 McCloskey, D 18, 34, 260 McGoldrick, K.-M 18 McGuinness, M 197, 200 Mearman, A 18 ‘meltdown into the unknown’ scenario 128 mental infrastructures 306, 307, 318n3; acceleration 307, 308; and domination of nature 309; “enterprising self” 308 mental models 88, 89, 90; shared 90 342 Index meta-theoretical similarities of economic perspectives 41, 42, 43 methodology 40, 41; consistency in 215; of Marxian economics 104 method-related approaches microeconomics 5, 8, 215; heterodox advanced course in 222–224; pluralist introductory course in 215, 216, 217, 218, 219, 220; syllabus of an introductory course in 216 Mieklejohn, A 274 Miller, G Milonakis, D 39, 40 mindfulness 314 Minsky, H 124, 247, 252; instability hypothesis 124 Mirowski, P 39 Mishan, E 141, 145 Mitchell, B 244 mode of production 105, 107 mode of regulation 110 Modern Monetary Theory (MMT) 252 modern world relations, crisis of 309, 310 modernity 319n8 monetary behavioral equations, stock-flow fund-service approach (SFFS) 175, 176 monetary flows, stock-flow fund-service approach (SFFS) 172, 173 monetary reductionism 140 monetary-physical stock-flow fund-service model 169 money 112, 169, 170; balance sheet approach 170; critical political economy perspective 112, 113; in neoclassical economics 113, 140; paradigmcomparing approaches 70, 71, 72, 73, 74, 75, 76; stocks 171; see also balance sheet approach monotheoreticism 13, 15, 19, 22, 27, 215 Moore, B 244 moral philosophy 256, 257 Morgan, J 18, 38 multidimensional analysis 141, 149; Position Analysis (PA) 146 Myant, M 131 Myatt, T., Anti-Textbook 80 Myrdal, Gunnar 139 nationalism 295 natural resources: per capita use of 111; sustainable development 146; see also ecological economics; energy streams; sustainability; Sustainable Development Goals (SDGs) necessary complexity, fallacy of 23, 24 negative heuristics 41 Negru, I 18 Nelson, R R 59, 193, 194, 224 neo-Chartalist perspective 247 neoclassical economics 43, 66, 102, 145; absence of sustainability in 153, 154, 155; consumers 139; cost-benefit analysis (CBA) 145; economic growth 110; firms 139; functional income distribution 229, 231, 232, 233, 239; income and employment 72, 74; interest rates 231; markets 114, 139; monetary reductionism 140; money and the financial sector 113; and political economic person (PEP) 144; potential failures 139, 140; price theory 67; social policy 75; state, the 109; sustainability policies 139; tax incidence 69; technological progress 69, 110; welfare economics 112; see also paradigmcomparing approaches neo-imperialism 114 neo-institutionalism 60 neoliberalism 1, 19, 79, 111, 120; Bretton Woods 112, 113; and European integration 118; and transformative science 294 network of perspectives 41, 42, 43, 45; limitations 46, 47 neutrality of advice 19, 20, 25 New Keynesian economics 243, 246; see also post-Keynesian economics New School for Social Research 256 Niechoj, T 128, 129 Nobel Prize in Economics 149 nominal value 247 nominal wages 234 non-labour income 239 non-specialized approaches 19 Norman, D A 88, 89 North, D 54; on ideology 143 national demand 77n10 Nutzinger, H G 158 object-driven theories 40 objectives of PEP 331 objectivity 193, 200; ‘strong’ 200 old systematics 33 oligopolistic markets 235, 238 ‘one world-one truth’ principle 40 Index one-field didactical approaches one-good economy 66 ontological categories of economic schools 37; central economics problems 37, 38; conception of time 39; human nature and reductionism 38–39; main unit of analysis 38 ontology 247, 291 open social system 56 O’Quinn, E 195 organic intellectuals 108 Organisation for Economic Co-operation and Development (OECD) 163 “othering” 52, 61n3; between two disciplines 53 outsourcing 239 Palley, T 250 Panther, S 4, paradigm co-existence 138 paradigm shift 138 paradigm-comparing approaches 5, 34, 41, 65, 327, 328; to income and money 70, 71, 72, 73, 74, 75, 76; in IPE 36; methodological 102, 103, 104, 105; ontological 102, 103, 104, 105; to price theory 66, 67, 68; to tax incidence 69 Pareto, V 53 Pareto optimum 112 participation rate 73, 74 partnerships, university-level 148 passive revolution 131 Patnaik P 295 pedagogies: “chalk and talk” 195, 196, 197, 198, 201; de-linking gender and value systems 194; diary writing 191, 195, 196, 199–202; diary/journal grading rubric 209; ethical approach to 18; feminist 198; gender diary/journal assignment 207–208; non-specialist perceptions 19; pluralist 14–18, 18; teaching feminist economics 194, 195 Pellechio, A 249 performative characteristics of economics 9, 298 Perlman, M 37 perspectives 37, 89; axioms 41; broadening 145; comparison of 35; critical political economy 102; epistemological categories 39, 40, 41; on European integration 123, 126, 127; ideology/values 41; methodology and methods 40, 41; neo-Chartalist 247; 343 neo-institutionalist 60; network of 41, 42, 43, 45; ontological categories 37, 38, 39; political economy 60; postdisciplinary 101; selecting 103 phenomena 104; concrete 105; economic 103 philosophy: of economics 35; moral 256, 257; of science, approaches 103 physical flows, stock-flow fund-service approach (SFFS) 172, 173, 176, 177, 178 Piaget, J 90 Pigou effect 70, 77n8 Piketty, T 239 pluralism 13–14 pluralist economic curriculum 59, 60, 61 pluralist economic education 1, 3, 8, 9, 13–14, 16, 17, 19, 20, 26, 27n5, 287, 300; confrontational approach 79, 80, 81; ‘contending perspectives model’ 32; example of 59, 60, 61; general considerations 57, 58, 59; heterodox advanced course in microeconomics 222–224; incorporating sustainability into 152, 153, 158, 159; introductory course in microeconomics 215, 216, 217, 218, 219, 220; and “judgement” 57, 58; need for 147, 149; paradigm co-existence 138; as pedagogical best practice 14–18; practicing, ethical responsibility of 13–14, 15; reforming the introductory economics course 270, 271; reproduction of the human-nature dualism in 311, 312; and the ‘selection problem’ 22, 23, 24, 25; student initiatives 31; teaching, example of 59, 60, 61; see also teaching economics policies 41; fiscal-monetary nexus 251; for increasing the wage share 239, 240 political economy political science 57, 61n1 politics 41, 107, 108, 109 Portugal, Italy, Greece and Spain (PIGS) 122 Position Analysis (PA) 145, 146 positive heuristics 41 positivism 102, 103, 291; and transformative science 287–290 “Post-Autistic Economics” 271 post-Keynesian economics 5, 8, 45, 119; authoritarian neoliberalism 130, 131, 132; Cambridge controversy on capital 112, 121; and crises 124; 344 Index ‘deficit spending’ 122; drivers for its development 121; effective demand 110; and European integration 119; functional income distribution 234, 235, 236, 237, 238, 239; general focus 120–121; hierarchical structure 121; income and employment 73, 74; interest rates 236, 237; John Kalecki 238, 239; markets 121; policies for increasing the wage share 239, 240; price theory 67; radical reformism to overcome capitalism 130; real wages 237; similarities with ecological economics 171; social policy 75; and sociology 55; source of policy change 121, 122; state, the 109, 110, 121; tax incidence 69; technological progress 69; ultimate goal of 121, 122; see also classical economics; ecological economics; neoclassical economics; paradigmcomparing approaches; stock-flow fundservice approach (SFFS) postmodernism 19; and gender 192, 193 Poulantzas, N 108 poverty studies 164–165 power, differentials in 38 practicing pluralism, ethical responsibility of 13–14 price theory 65, 66, 68; in classical economics 66; environment affects 69; inflation 236; in Keynesian economics 67; long-run equilibrium 66, 67, 68; in neoclassical economics 67; tax incidence 69; technological progress 68, 69 prior conceptions 89 production of knowledge 103 productive forces 105, 231 profit 231, 237 Promoting Economic Pluralism (PEP) 5, 9, 330, 331; economics teaching, reforming 331, 332, 333, 334; objectives 331; reasons for action 34 psychic resources: for degrowth societies 306; for sustainable ways of life 314, 315 Pürckhauer, A pure competition 235, 238 qualitative research 57 quantitative easing (QE) 247, 250, 251 radical economics 101 radical reformism 121; to overcome capitalism scenario 130 Rappaport, A 239 rational actor model 53, 54, 201 rationale, and curriculum design 17, 18 rationalism 36 real wages 233, 234, 237 Reardon, J 4, 8, 18; Economics Curriculum, The: Towards a Radical Reformulation 147 recognised authority, fallacy of 22, 23 redistribution of income 75 reducing androcentric bias in economics 199–202 reductionism 38–39 reflection 84, 90, 215 reflexive thinking 86, 87, 88, 89, 90, 91, 92 reforming economics teaching 331, 332, 333, 334 regimes of accumulation 110 regulation approach 110, 119; and the European integration crisis 125 regulatory capture 19, 20 Reifer, E 111 representative agents 142 repressive typologies 33 research: axioms 41; of critical political economy 101; quantitative 57; transformative economic 300 Resnick, S 37 resonance 306, 312, 313, 314, 316 Ricardo, D 38, 104; theory of comparative advantage 24 Richters, O 4, 8, 180, 182 Robbins, L 53 Romer, P 330 Rommel, F Rosa, H 306, 307, 309, 310, 316, 319n8, 319n9; resonance 312 Rössler, B 256 Royal Economic Society (RES) 332 Saad-Filho 101 Samuelson, P 22, 38, 233, 311, 312; Foundations of Economic Analysis 312 Sanders, C Say’s law 70 scarcity 38, 43, 45 Schneidewind, U 8, 287, 291, 293 Schnitzler, A 262 schools of thought 57; see also economic schools Schumpeter, J 38, 53, 244; History of Economic Analysis 58 Schütz, A 84 Index scientific pluralism 287 second-order transformation 287, 292–293 second-wave feminism 192 selection, of economic perspectives 34, 103 ‘selection problem’ 21, 22, 23, 24, 25 self-efficacy 314 Sen, A 38, 159, 258 ‘separative self’ 193 service time 172 shared mental models 90 Sherman, H J 101 Siebenhüner, B., Homo Sustinens 144 Siemoneit, A 180, 182 simulation results of the stock-flow fundservice model 178, 179 Sinnverstehen (‘economic understanding’) see economic understanding slave labour 105, 106 small crises 109, 125 Smith, A 38, 104, 113, 257 social capital 54 social constructivism 36 social democratic (green) Europe scenario 128, 129 social economics 55 social fields 56 social policy 75, 76 social relations of production 105, 106, 120 social roles 86, 87 social structure of accumulation approach 110 social-ecological transformations, individual and collective level 313, 314 society 107, 108, 109 socio-ecological transformation, education for 315, 316, 317; psychic resources for sustainable ways of life 314, 315; resonant world relations 313, 314 sociology: and post-Keynesian economics 55; relationship with economics 53 Söderbaum, Peter 4, 156, 157 solidarity 315 Soskice, D., Macroeconomics – Institutions, Instability and the Financial System 154 space 113, 114; core and periphery 126; and the European integration crisis 125–126 Springler, E 4, 101, 102, 107, 119 Sraffa, P 233 stability analysis of the stock-flow fundservice model 180, 181, 182 stages of moral development 90 345 state, the 107, 108, 109; in post-Keynesian economics 110, 121 Stiglitz, J 118, 239 stock-flow consistent (SFC) models 170, 171, 243 stock-flow fund-service approach (SFFS) 171–172, 172, 173, 174, 175; derivation of cr = H (S*) 188; derivation of global instability 186; derivation of stability conditions 185, 186; derivation of the Jacobian 187, 188; ecological stability condition 182; energy streams 174, 175; heat emissions 175; monetary behavioral equations 175, 176; monetary flows 172, 173; monetary stability condition 180, 181; physical flow equations 176, 177, 178; physical flows 172, 173; simulation results of the model 178, 179; stability analysis 180, 181, 182; states of the model 183, 184; system of equations 178 stocks 171 Strober, M 192 ‘strong objectivity’ 193, 200, 212n8 strong sustainability 172 structural crises 109, 125 struggles for hegemony 108 student critiques of the introductory economics course 271, 272 student-written diaries 191, 199; as feminist pedagogy 195, 196; ‘Women in the Economy’ class 202–206 supply-side economics 70 surplus rate 106 surplus value 106, 114 sustainability 139, 155, 156, 157, 158, 160, 288; absence of in neoclassical economics 153, 154, 155; and climate change 162; definitions 155, 156, 157, 158; and economic growth 162; and entrepreneurship 164; implementing 156, 157; incorporating into macroeconomics 160, 161, 162, 163, 164, 165, 166; incorporating into the economics curriculum 152, 153, 158, 159; psychic resources for 314, 315; strong 172; and waste 162; weak 172 sustainable development 144, 145, 146, 158 Sustainable Development Goals (SDGs) 140, 141, 146, 157, 158, 166, 318n4; multidimensionality 141 Swedberg, Richard 53 346 Index syllabus of an introductory course in microeconomics 216 system of equations, stock-flow fundservice approach (SFFS) 178 TARGET2 payment system 250, 251 tax incidence, paradigm-comparing approaches 69 taxonomy of learning goals 87, 88 Taylor, M P 80 teacher education 83, 92; development of economic competences 87; and economic understanding 90; integral empowerment 91 teaching economics 2, 3, 8, 57, 58, 59, 61, 256, 305; adopting the values and ideas of modern science 160; breaking down hierarchies in the classroom 198, 199; chalk and talk method 197, 198; comprehension of meaning 85, 86, 87; dimensions of 306; and economic understanding 85; and enculturation 85, 86, 87; Evergreen State College, context of 273–275; feminist 194, 195; heterodox advanced course in microeconomics 222–224; incorporating pluralism 159; introductory economics course 269; lecture-based 197, 202; pluralist introductory course in microeconomics 215, 216, 217, 218, 219, 220; as a service component 277, 278; for socio-ecological transformation 315, 316, 317; student initiatives 31; student-written diaries 195, 196, 197, 198; two approaches to the reform of the introductory economics course 270, 271; see also approaches; building blocks; “Ethics and Economics,” teaching; feminist economics; pedagogies; pluralist economic education technocratization 288 technological progress 110; paradigmcomparing approaches 68, 69 Test of Understanding College Economics (TUCE) 85, 942 textbook writing: absence of sustainability in neoclassical economics 154, 155; and the confrontation of conflicting theories 79, 80; economics 2, 3; Paul Samuelson 312; promoting change in 301–302 theories: confrontation of conflicting 79, 80; and curriculum design 17; monotheoreticism 13, 15, 19, 22, 27; network of perspectives 41, 42, 43; perspective-driven 40; stock-flow consistent models (SFC) 170 Thompson, D F 18 thresholds 89, 90 trade unions 239 transformative economics 299, 300, 301–302 transformative science 8, 9, 287, 289, 290, 291; critical 294, 295, 296; and interior pluralism 292; positivist and critical elements of 287–290; ‘Progressive International’ 295, 296; research agenda 295; second-order transformation 292–293 Treglia, M 196 Trump, D 19 truth 291 Tucholsky, K 23 Tugendhat, E 257 typology: for a comparative approach to pluralist economics education 36–37; of economic schools, developing 33; of economic thinking, deriving 33–34 underdeveloped countries, macroeconomic outcomes of rural sustainability in 163 unemployment 234 uneven development 125–126, 127 United Kingdom (UK): ‘conservative revolution’ 238, 239; Quality Assurance Agency (QAA) 16 United Nations (UN): Food and Agriculture Organization (FAO) 163; Sustainable Development Goals (SDGs) 140, 141, 157, 158, 166 United States: ‘conservative revolution’ 238, 239; wage share 230 units of analysis 38 universities: partnerships 148; teaching ecological economics 147, 148; ‘Women in the Economy’ class 202–206, 210–211; see also “Ethics and Economics,” teaching; Evergreen State College; pedagogies; teacher education; teaching economics ‘untruths’ 25, 26 Urban, J urbanization 164 ‘value-free’ science 288, 289 values 41, 138, 139; normativity 290, 290–291 van Staveren, I 80 Index variable capital 106 Veblen, T 53 Vines, D 243 Voss, J.-P 290 Vromen, J 22, 23 wages: in developing countries 230, 232; functional income distribution 229; nominal 234; policies for increasing 239, 240; real 233, 234, 237; and the social democratic (green) Europe scenario 129; see also functional income distribution waste 162 Watts, M 195 weak sustainability 172 wealth, and capital 76–77n6 Weber, M.38, 53, 84 Weinert, F 84 Weisenthal, J 243 Welch, J 239 welfare economics 112 well-being 111 347 White, H 54 Winter, S G 59, 224 Wissen, M 290 Wolff, R 37 ‘Women in the Economy’ class 202–206; questionnaire 210–211 women’s economic status: analyzing 191–192; glass ceiling 192, 193; improving 196–199 Woodford, M 247 workers 106; exploitation 231 world systems approach 114 Wray, R 244, 246, 247 Wright, J., Ethics in Economics: An Introduction to Moral Frameworks 258 Writing across the Disciplines/Curriculum movement 195, 196 writing assignments, as feminist pedagogy 195, 196 Yglesias, M 243 Zingales, L 18 ... for teaching pluralist economics The second opinion: an ethical approach to learning and teaching economics 11 13 ALAN FREEMAN Making the incommensurable comparable: a comparative approach to pluralist. .. sectoral approaches Economics and ethics Interdisciplinary and paradigm-comparing approaches to pluralist teaching The present volume Part I of this volume ( Principles for teaching pluralist economics ).. .Principles and Pluralist Approaches in Teaching Economics This volume is a state-of-the-art compilation of diverse and innovative perspectives, principles, and a number of practiced approaches