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Faculty of Economics


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A central feature of the Alternative Approaches Research Group is a commitment to pluralism, and in particular to a recognition that mathematical modelling is not the only way to study social phenomena. All members of this grouping prioritise real world relevance, and contribute to the history of economic thought and heterodox economics. Within heterodox economics, a focus on institutional economics and forms of development economics is fairly strong. The majority also work on philosophical issues, most especially social ontology, that is on studying the nature of social phenomena (the nature of money, firms, technology, etc.), and are participants of the Cambridge Social Ontology Group (https://www.csog.econ.cam.ac.uk/).


Carolina Alves
Joan Robinson Research Fellow in Heterodox Economics (Girton College)

Research Interests
Macroeconomics, International macro-finance, Public Debt, Money, Financialisation, Marxist Economics and Latin America

Dr Ivano Cardinale
Senior Lecturer, Goldsmiths, University of London

Research Interests
Political Economy, History of Economic Thought, Economic Theory


Dr Ha-Joon Chang
University Reader

Research Interests
Role of the state in economic change

Dr Phil Faulkner
Fellow, Senior College Teaching Officer, Director of Studies in Economics (Clare College)

Research Interests
Social Ontology, Realist Social Theory, Ontology of Technology


Professor Tony Lawson
Professor of Economics and Philosophy

Research Interests
Social ontology, philosophy of science, political economy and history of thought

Dr Clive Lawson
College Teaching Officer (Girton College)

Research Interests
Aviation and the Environment, Philosophy of Technology, Social Ontology, Methodology of Economics, History of Thought


Dr Jose Gabriel Palma
Emeritus Senior Lecturer

Research Interests
The economic development of Latin America and East Asia and their integration within the World Economy. In particular, the study of these economies from the point of view of their economic history, macroeconomics, international trade and international finance.

 

Research Grants

  • ISRF Professorial Research Fellowship (INDEPENDENT SOCIAL RESEARCH FOUNDATION (ISRF)) - Lawson, T.

Published Papers

Alves, C. and Kvangraven, I. H. Changing the Narrative: Economics After Covid-19, Review of Agrarian Studies (2020)
Kvangraven, I. and Alves, C. ¿Por Qué Tan Hostil? Quebrando Mitos Sobre la Economía Heterodoxa, Ensayos de Economía (2020)
Chang, H.-J., Andreoni, A. Industrial policy in the 21st Century, Development and Change (2020)
Feduzi, A., Faulkner, P., Runde, J., Cabantous, L. and Loch, C Heuristic Methods for Updating Small World Representations in Strategic Situations of Knightian Uncertainty, Academy of Management Review, forthcoming (2020)
Faulkner, P. and Runde, J. Theorizing the Digital Object, MIS Quarterly (2019)
Lawson, T. Money’s Relation to Debt: some problems with MMT’s conception of money, Real-World Economics Review (2019)
Palma, J. G. Behind the Seven Veils of Inequality. What if it’s all about the Struggle within just One Half of the Population over just One Half of the National Income?, Development and Change (2019)
Palma, J. G. Desindustrialización, desindustrialización "prematura" y "síndrome holandés", El Trimestre Económico (2019)
Alves, C. and Toporowski, J. Growth of International Finance and Emerging Economies: Elements for an Alternative Approach, PSL Quarterly Review (2019)
Lawson, T. The Constitution and Nature of Money, Cambridge Journal of Economics (2018)
Naqvi, N., Henow, A. and Chang, H. J. Kicking away the financial ladder? German development banking under economic globalisation, Review of International Political Economy (2018)
Lawson, T. Debt as Money, Cambridge Journal of Economics (2018)
Feduzi, A., Runde, J., Cabantous, L., Faulkner, P. and Loch, C. Updating “Small World Representations” In Strategic Decision-Making Under Extreme Uncertainty, Proceedings of the Seventy-eighth Annual Meeting of the Academy of Management (2018)
Andreoni, A. and Chang, H. J. The political economy of industrial policy: structural interdependencies, policy alignment and conflict management, Structural Change and Economic Dynamics (2018)
Andreoni, A., Chang, H. J. and Scazzieri, R. Industrial policy in context: building blocks for an integrated and comparative political economy agenda, Structural Change and Economic Dynamics (2018)
Andreoni, A., Chang, H. J., Konzelmann, S. and Shipman, A. Introduction to the special issue: towards a production-centred agenda, Cambridge Journal of Economics (2018)
Palma, J. G. Por qué la economía ortodoxa transfirió su obsesión por un concepto (mercado) a un ritual (matemáticas), Revista Estudios Nueva Economía (ENE) (2018)


Cambridge Working Papers in Economics

Palma, J. G. Why is inequality so unequal across the world? Part 2 The diversity of inequality in market income ─ and the increasing asymmetry between the distribution of income before and after taxes and transferences, CWPE19100 (2019)
Palma, J. G. Finance as Perpetual Orgy How the ‘new alchemists’ twisted Kindleberger’s cycle of “manias, panics and crashes” into “manias, panics and renewed manias”, CWPE2094 (2020)
Palma, J. G. Why is inequality so unequal across the world? Part 1. The diversity of inequality in disposable income: multiplicity of fundamentals, or complex interactions between political settlements and market failures?, CWPE1999 (2019)
Palma, J. G. The Chilean economy since the return to democracy in 1990. On how to get an emerging economy growing, and then sink slowly into the quicksand of a “middle-income trap”, CWPE1991 (2019)
Alves, C. and Toporowski, J. Growth of international finance and emerging economies: Elements for alternative approach, CWPE1930 (2019)
Palma, J. G. Do nations just get the inequality they deserve? The 'Palma Ratio' re-examined, CWPE1627 (2016)
Palma, J. G. Why corporations in developing countries are likely to be even more susceptible to the vicissitudes of international finance than their counterparts in the developed world: A Tribute to Ajit Singh, CWPE1539 (2015)
Lawson, T. Comparing Conceptions of Social Ontology: Emergent Social Entities and/or Institutional Facts?, CWPE1514 (2015)
Palma, J. G. Has the income share of the middle and upper-middle been stable over time, or is its current homogeneity across the world the outcome of a process of convergence? The 'Palma Ratio' revisited , CWPE1437 (2014)
Palma, J. G. Latin America's social imagination since 1950. From one type of 'absolute certainties' to another - with no (far more creative)'uncomfortable uncertainties' in sight,, CWPE1416 (2014)
Palma, J. G. How to create a financial crisis by trying to avoid one: the Brazilian 1999-financial collapse as "Macho-Monetarism" can't handle "Bubble Thy Neighbour" levels of inflows, CWPE1301 (2013)
Palma, J. G. Was Brazil's recent growth acceleration the world's most overrated boom?, CWPE1248 (2012)
Palma, J. G. How the full opening of the capital account to highly liquid financial markets led Latin America to two and a half cycles of ‘mania, panic and crash’, CWPE1201 (2012)
Palma, J. G. Homogeneous middles vs. heterogeneous tails, and the end of the ‘Inverted-U’: the share of the rich is what it’s all about, CWPE1111 (2011)
Palma, J. G. Why has productivity growth stagnated in most Latin-American countries since the neo-liberal reforms? (Revised 26-07-2011), CWPE1030 (2010)
Palma, J. G. The Revenge of the Market on the Rentiers: Why neo-liberal Reports of the end of history turned out to be premature, CWPE0927 (2009)


Authored Books

Lawson, T. The Nature of Social Reality: Issues in Social Ontology, (2019), Routledge
Lawson, C. Technology and Isolation, (2017), Cambridge University Press
Lawson, T. The Nature and State of Modern Economics, (2015), Routledge
Chang, H.J. Economics : the user guide, (2014), Penguin
Chang, H.J. 23 things they don't tell you about capitalism, (2011), Penguin
Lawson, T. Reorienting Economics, (2003), Routledge
Lawson, T. Economics and Reality, (1997), Routledge


Chapter in Book

Palma, J. G. The Chilean economy since the return to democracy in 1990. On how to get an emerging economy growing, and then sink slowly into the quicksand of a “middle-income trap”, (2020), forthcoming in A New Economic History of Chile. - Cambridge University Press
Chang, H..J. Economic development, (2019), forthcoming in Development : mechanisms of change. Edited by Torsten Krude, Sara Baker - Cambridge University Press
Palma, J. G. How does Europe manage to achieve a relatively low and homogenous level of inequality in spite of a broad diversity of fundamentals?, (2019), forthcoming in Cherishing All Equally 2019: Inequality in Europe and Ireland. - FESP
Lawson, C. Feenberg, rationality and isolation, (2018), forthcoming in Critical theory and the thought of Andrew Feenberg. Edited by Darrell Arnold, Michel Andreas - Palgrave Macmillan
Palma, J. G. The multiplicity of distributional outcomes across the world: Diversities of fundamentals or countries getting the inequality they deserve?, (2018), forthcoming in Handbook of Globalisation. - Edward Elgar
Lawson, T. Eudaimonic Bubbles, Social Change and the NHS, (2017), forthcoming in Morphogenesis and Eudaimonia. - Springer
Lawson Collective learning, system competences and epistemically signicant moments, (2017), forthcoming in High-technology clusters, networking and collective learning in Europe. Edited by David Keeble, Frank Wilkinson - Taylor and Francis
Palma, J. G. Is the share of the rich what it’s all about? The ‘Palma Ratio’ and the diversity of inequality across the world, (2017), forthcoming in Conocimiento para la equidad social: pensando Chile globalmente, Colección Políticas Públicas. - USACH
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Alternative Approaches Research Group





There are currently no Workshops scheduled




Recent Publications


Faulkner, P. and Runde, J. Theorizing the Digital Object MIS Quarterly [2019]

Feduzi, A., Faulkner, P., Runde, J., Cabantous, L. and Loch, C Heuristic Methods for Updating Small World Representations in Strategic Situations of Knightian Uncertainty Academy of Management Review, forthcoming [2020]

Andreoni, A., Chang, H. J., Konzelmann, S. and Shipman, A. Introduction to the special issue: towards a production-centred agenda Cambridge Journal of Economics [2018]



Selected CWPE


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100

Why is inequality so unequal across the world? Part 2 The diversity of inequality in marke..., Palma, J. G.

14
37

Has the income share of the middle and upper-middle been stable over time, or is its curre..., Palma, J. G.

16
27

Do nations just get the inequality they deserve? The 'Palma Ratio' re-examined, Palma, J. G.