Real-World Economics Review

Real-World Economics Review
Title	Real-World Economics Review
Discipline	Heterodox economics
Language	English
Abbreviation	RWER
Publisher	Unpaid editorial collective
Frequency	Irregular
History	1999–present

Real-World Economics Review Real-World Economics Review is an English-language heterodox economics journal known for critiquing mainstream Nobel Memorial Prize in Economic Sciences-oriented approaches and advocating pluralist perspectives. It publishes essays, book reviews, and conference papers emphasizing empirical scrutiny and historical context, attracting contributors from institutions such as University of Cambridge, London School of Economics, University of Massachusetts Amherst, University of Oxford, and University of California, Berkeley. Its editorial stance aligns it with debates surrounding the 2008 financial crisis, the Great Recession (2007–2009), and policy responses linked to institutions like the International Monetary Fund and the World Bank.

Overview

The journal foregrounds heterodox traditions including Keynesian economics, Marxian economics, Institutional economics, Post-Keynesian economics, and Feminist economics, positioning itself against paradigms associated with scholars who received the Nobel Memorial Prize in Economic Sciences such as Milton Friedman, Paul Samuelson, and Robert Lucas Jr.. It emphasizes empirical case studies drawn from episodes like the 1973 oil crisis, the Asian financial crisis of 1997, and the European sovereign debt crisis, while engaging with policy actors including the Bank of England, the European Central Bank, and the Federal Reserve System. The review often discusses works by economists and public intellectuals such as John Maynard Keynes, Karl Marx, Joseph Schumpeter, Joan Robinson, and Hyman Minsky.

History and Founding

Founded in 1999 by a collective of scholars and activists linked to debates surrounding the World Economic Forum and responses to neoliberal reforms associated with leaders like Margaret Thatcher and Ronald Reagan, the review emerged in the aftermath of controversies over monetary orthodoxy and structural adjustment programs promoted by the International Monetary Fund. Early issues featured interventions from figures connected to networks including the New School for Social Research, the University of Missouri–Kansas City, and activist circles around events such as the Seattle WTO protests of 1999. Its development reflects intellectual dialogues with journals and groups like New Left Review, Cambridge Journal of Economics, and the Post-Keynesian Economics Society.

Editorial Policy and Philosophy

The editorial collective adopts an explicitly heterodox editorial philosophy influenced by critiques from scholars such as Amartya Sen, Joan Robinson, and Piero Sraffa. Submissions are evaluated for their empirical relevance to episodes like the Great Depression and theoretical engagement with traditions represented by Karl Polanyi and David Ricardo. The review rejects methodological exclusivity associated with authors like Gary Becker and institutions such as the Chicago School of Economics, preferring interdisciplinary contributions that draw on histories of thought involving figures like Max Weber and Thorstein Veblen. Editorial decisions emphasize accessibility for audiences connected to policy bodies such as the United Nations and campaigning organizations like Occupy Wall Street.

Content and Notable Articles

Content ranges from long-form critiques of models popularized in textbooks associated with Paul Krugman and Greg Mankiw to historical reassessments of events such as the Latin American debt crisis and analyses of policy prescriptions from the International Monetary Fund and Organisation for Economic Co-operation and Development. Notable pieces have engaged with the work of Joseph Stiglitz, Richard Koo, Thomas Piketty, David Graeber, and Ha-Joon Chang, and have debated interpretations offered by commentators from outlets tied to The Economist and Financial Times. Special issues have been devoted to themes like financial instability theorized by Hyman Minsky, the legacy of Keynesian economics after the 2008 financial crisis, and critiques of austerity policies linked to political figures such as Angela Merkel and George Osborne.

Contributors and Editorial Board

The review has published contributions from academics and public intellectuals affiliated with institutions such as University College London, Harvard University, Princeton University, Johns Hopkins University, Goldsmiths, University of London, and York University (Canada). Contributors have included scholars associated with movements and societies like the Economics Association and the Progressive Economics Forum, as well as activists and former policy-makers who worked with organizations like the United Nations Conference on Trade and Development and the International Labour Organization. The editorial board historically comprised academics linked to the Post-Keynesian Economics Society, the Association for Evolutionary Economics, and the Institute for New Economic Thinking.

Reception and Impact

Reception is polarized: defenders praise its role in sustaining pluralist debate and influencing curricula at departments including University of Missouri–Kansas City and SOAS, University of London, while critics in outlets associated with The Wall Street Journal and The Economist dismiss its critiques as partisan. The review has been cited in policy discussions at the European Parliament and referenced in reports from NGOs such as Oxfam and Transparency International. Its influence is notable in heterodox networks, graduate reading lists at universities like Queen Mary University of London and University of Sydney, and in conferences convened by organizations including the International Confederation of Associations for Pluralism in Economics.

Publication Format and Distribution

Published irregularly in digital open-access format, the review distributes PDFs and HTML editions through platforms frequented by scholars and activists connected to conferences like the World Social Forum and institutions such as the Routledge-associated academic community. Back issues circulate via mailing lists maintained by groups including the Progressive Economy Forum and university library catalogs at British Library, Library of Congress, and numerous university repositories. Special issues have been compiled into volumes used in postgraduate courses at universities like University of Manchester and New York University.

Category:Economics journals Category:Heterodox economics