This article is a companion to “Orthodox Economics and the Economics of Harm.” It builds on the previous article by developing two topics. In the first section is a further discussion of the concept of harm. What is the best name to give to the concept of harm, as other general terms have been proposed? Is harm a value judgment and thus, as a concept, not able to be part of an objective science? How will harm be treated in economics? The second section discusses heterodox approaches to harm. Much of heterodox economics, such as institutional, feminist, and conflict economics, has focused on major areas of harm, developing and strengthening the analysis of harm. The two costs have been terminologies which differ among the various approaches and the (unmet) need to bring the approaches together in an overall view of harm. Heterodox economics (and the relatively few orthodox authors) are on the right track in understanding productive + harmful economic systems while orthodox economics, as shown by its textbooks, is not. Yet the wrong approach is the dominant one. Will the truth win out?

This paper evaluates the comprehensiveness and composition of university library holdings of economics journals of three types of institutions: schools that offer a doctoral degree program in economics; schools that offer a master's degree in economics, and schools that offer only a baccalaureate degree in economics. The results offer useful information for university libraries and economics educators responsible for deciding whether the current holdings should be maintained or, if not, which journals should be added or deleted.

"Behavioral economics" improves the realism of the psychological assumptions underlying economic theory, promising to reunify psychology and economics in the process. Reunification should lead to better predictions about economic behavior and better policy prescriptions.

PurposeThis study aims to present the perspectives of heterodox economics and Islamic economics on environmental economics, as an alternative to mainstream economics, which takes economic growth as its main objective and argues that environmental problems will largely disappear when economic growth is achieved.Design/methodology/approachIn this study, there was no intention to conduct a detailed analysis of heterodox economic models and Islamic economics. Instead, the approaches to the “environment,” which can be considered as an urgent need of the planet, were evaluated, and the inadequate proposals of the mainstream economics’ environmental approach were theoretically criticized and heterodox economics and Islamic economics were proposed as an alternative model.FindingsHeterodox and Islamic economics offer alternative models of development prioritizing social and ecological justice to address environmental problems, which is in contrast to mainstream economics’ narrow focus on market mechanisms and individual rationality. Thus, engaging in more dialogue in the context of the environment is inevitable for both schools, considering the vast geography inhabited by Muslims and the proposed heterodox economic policies, and moreover, these approaches are modeled for the first time.Originality/valueThis article presents a synthesis of Islamic economics and heterodox thinking in contrast to mainstream economic policy, highlighting their similarities and differences and providing a more comprehensive understanding of the complexities and potential solutions of environmental problems. To the best of the authors’ knowledge, this approach has not been previously explored, making it an original contribution to the literature.

Folk economics is the intuitive economics of untrained people. It is concerned with distribution, and does not allow for or understand incentives. Folk economic notions evolved in our ancestors m circumstances where there was little in the way of specialization, division of labor, capital investment, or economic growth. It can explain the beliefs of naïve individuals regarding matters such as international trade, labor economics, law and economics, and industrial organization. It is important that voters understand economic principles. Economists would do a better job of persuading others and of teaching if we paid explicit attention to folk economics. Because untrained individuals do not fully understand gains from trade, training in economics is likely to improve welfare by increasing the number of trading opportunities. There is evidence that this is m fact true.

This paper considers the problems of teaching economics to non-economics students. Increasingly economics is being taught as a single, introductory, compulsory subject in a wide range of field's of study. Students learning economics under such circumstances may have special problems. They may not see the need for economics, they may not be interested in it and they may find it difficult to cope with a style of subject and teaching which is quite different to their core interest. These issues are examined through a case study of the subject Tourism and Hospitality Economics, which is compulsory for students studying Tourism and Hospitality at the Royal Melbourne Institute of Technology University.

Stratification economics represents an important new approach devoted to explaining economic inequality in terms of how social groups are separated or stratified according to relative group status. This paper combines stratification economics with identity economics to address complications that the phenomenon of intersectionality—people having multiple social group identities—creates for stratification economics. It distinguishes two types of social identities recognised by social psychologists, categorical and relational social identities, and uses this distinction to explain how individuals’ personal identities, understood as ordered sets of social identities, can be seen to be both socially and self-constructed. Individuals order and rank their categorical social identities according to weights they assign to them in interactive social settings in which their role-based relational social identities combine different categorical social identities. Research in social psychology in the stigma identity-threat literature is then reviewed to distinguish two opposed ways in which individuals respond to others’ stigmatisation of their social groups in interactive settings. The paper argues that the ways in which individuals respond to stigma reflect social group power relationships and the scarcity logic of individualist social ontologies and tend to reinforce social stratification.

A comprehensive four-volume resource that explains more than 800 topics within the foundations of economics, macroeconomics, microeconomics, and global economics, all presented in an easy-to-read format. As the global economy becomes increasingly complex, interconnected, and therefore relevant to each individual, in every country, it becomes more important to be economically literate—to gain an understanding of how things work beyond the microcosm of the economic needs of a single individual or family unit. This expansive reference set serves to establish basic economic literacy of students and researchers, providing more than 800 objective and factually driven entries on all the major themes and topics in economics. Written by leading scholars and practitioners, the set provides readers with a framework for understanding economics as mentioned and debated in the public forum and media. Each of the volumes includes coverage of important events throughout economic history, biographies of the major economists who have shaped the world of economics, and highlights of the legislative acts that have shaped the U.S. economy throughout history. The extensive explanations of major economic concepts combined with selected key historical primary source documents and a glossary will endow readers with a fuller comprehension of our economic world.

This paper gives an overview of the work of Carl Menger, the founding father of the Austrian School of Economics. Menger’s theoretical and methodological positions are compared and contrasted with those of contemporary Austrian Economics. The idea of the unintended consequences of individual purposive actions is seen as a key to Menger’s economics. Although many elements of contemporary Austrian Economics can be found already in the work of Menger, we argue that there are some differences with respect to economic theorizing and economic policy recommendations. We propose to bring Austrian Economics closer to mainstream economics, especially with respect to the analytical tools to be used.

Mike Beggs asks why economics itself was a target of some Occupiers, and tells a history of battles over politics within economics.