La oie, Ma c
Book Re iew
Book e iew o Ea l, Pe e E.: Beyond Misbeha ing:
Changing Uni e si ies, Plu alism, and he E olu ion o a
He e odox Beha io al Economis
Eu opean Jou nal o Economics and Economic Policies: In e en ion (EJEEP)
P o ided in Coope a ion wi h:
Edwa d Elga Publishing
Sugges ed Ci a ion: La oie, Ma c (2025) : Book e iew o Ea l, Pe e E.: Beyond Misbeha ing:
Changing Uni e si ies, Plu alism, and he E olu ion o a He e odox Beha io al Economis , Eu opean
Jou nal o Economics and Economic Policies: In e en ion (EJEEP), ISSN 2052-7772, Edwa d Elga
Publishing, Chel enham, Vol. 22, Iss. 1, pp. 150-153,
h ps://doi.o g/10.4337/ejeep.2024.0133
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Book Re iew
This is an open access wo k
G ow h models, g ow h s a egies, and powe
blocs in Tu key and Egyp in he wen y- i s
cen u y
Ali Rıza Güngen
Social Sciences, Columbia College, Canada
Ümi Akçay
Ins i u e o In e na ional Poli ical Economy, Be lin School o Economics and Law, Be lin, Ge many
Uemi .Akcay@hw -be lin.de
Analysis o he g ow h pa e ns in he Global Sou h in he wen y- i s cen u y sugges s he e is oom
o au ho i a ian s a es o sea ch o new g ow h models. Au ho i a ian s a es, such as Tu key and
Egyp , bene i ed om global inancial ci cums ances in he ea ly 2000s and expe ienced shi s in
g ow h s a egies in he 2010s, supp essing poli ical space u he . Ou main esea ch ques ion,
hus, is ocusing on wha he main domes ic poli ical economy causes o hese g ow h s a egy and
model changes a e. To explain he changes in g ow h s a egies and models amid he s eng h o ein-
o ced au ho i a ian egimes in hese wo coun ies, we employ a hyb id esea ch s a egy, ying
g ow h model changes o con lic s wi hin he powe bloc. We a gue ha in he mid- o-la e
2010s, pe iphe al goods p oduce s gained he uppe hand in Tu key, while a mili a y akeo e in
Egyp was ollowed by he p omo ion o expo s and new in es men s. We also con end ha powe
bloc econ igu a ions in he las decade and he ise o new g ow h s a egies bo h in Tu key and in
Egyp aimed o change p e ious domes ic demand-led demand and g ow h models.
Keywo ds: compa a i e poli ical economy, g ow h models, g ow h s a egies, Tu key, Egyp
JEL codes: B52, E65, E66, F43, O43, P52
1 INTRODUCTION
Au ho i a ian s a es in Tu key and Egyp eju ena ed hemsel es in he 2010s. This was a
de elopmen con a y o he widesp ead expec a ion ha when aced wi h deep economic
c ises and b ewing social discon en , au ho i a ian egimes a e less likely o main ain hei
powe . This s udy elabo a es on he g ow h models o Tu key and Egyp in he wen y-
i s cen u y. Despi e signi ican di e ences ega ding expo capaci y and mac oeconomic
indica o s, poli ical economic de elopmen s con e ge in a ious aspec s in hese wo coun-
ies. Mo eo e , he au ho i a ian egimes in bo h Tu key and Egyp main ained hei
powe while inc easingly supp essing he poli ical space in he 2010s (Tuğal 2016). We
desc ibe au ho i a ianism as a se o p ac ices ha isola es key policy-making p ocesses
om democ a ic o e sigh and excludes la ge g oups such as wo king classes, e hnic mino-
i ies o subal e n g oups om ins i u ional poli ics (Salgado 2022). F om a c i ical poli-
ical economy pe spec i e, au ho i a ian p ac ices canno be concei ed as clea ly cu om
Resea ch A icle
This isan open access wo k
Recei ed 8 Decembe 2022, accep ed 7 No embe 2023
Eu opean Jou nal o Economics and Economic Policies: In e en ion, Vol. 21 No. 1, 2024, pp. 151–171
Fi s published online: Ap il 2024; doi: 10.4337/ejeep.2024.01.09
Jou nal compila ion © 2024 Edwa d Elga Publishing L d
© 2024 The Au ho
Eu opean Jou nal o Economics and Economic Policies: In e en ion, Vol. 22 No. 1, 2025, pp. 150–153
Fi s published online: Ap il 2024; doi: 10.4337/ejeep.2024.0133
Book e iew o Ea l, Pe e E.: Beyond
Misbeha ing: Changing Uni e si ies,
Plu alism, and he E olu ion o a He e odox
Beha io al Economis
Wes lake, Aus alia, 2024 (439 þx i pages, PE:AT Publishing, so co e ,
also a ailable as ebook, ISBN 979-8-224-14517-1)
Ma c La oie
P o esso Eme i us, Uni e si y o O awa and Uni e si y o So bonne Pa is No d, and FFM ellow
This is a eally in iguing and o iginal book, which combines an au obiog aphy, ad ice o
doc o al s uden s and s a ing schola s abou how o a oid mis akes in hei ca ee plans,
as well as elemen s o economic heo y based on he a ious a icles and books ha i s
au ho w o e o e he yea s. Pe e Ea l has jus e i ed om his posi ion a he Uni e si y
o Queensland. He is bes known o his wo k on beha iou al economics. He was one
o he wo co-edi o s o he Jou nal o Economic Psychology om 2000 o 2004, bu he
has also w i en ex ensi ely on ma ke ing and mone a y economics. His 1983 and
1986 books on consume beha iou , inciden ally published by Edwa d Elga when he
was s ill wo king o Whea shea , we e a main in luence on my own w i ings on pos -
Keynesian consume heo y (La oie 1994; 2022: ch. 2). Indeed, Ea l’s la es book is o
pa icula in e es o eade s o his jou nal because he was an unde g adua e and doc o al
s uden a he Uni e si y o Camb idge om he mid 1970s o he mid-1980s, and hus a
a ime when Camb idge was s ill a s onghold o pos -Keynesian mac oeconomics. Ea l’s
eaching and schola ly wo ks ha e always e lec ed his Camb idge backg ound.
O e he las 30 yea s, se e al books ha e been de o ed o in e iews o economis s,
including pos -Keynesian economis s. These in e iews a e some imes mo e e ealing
han he schola ly wo ks o he in e iewees, as hey help o unde s and he mo i a ions
and he goals being pu sued by hese economis s. In a sense, Ea l’s book is like a long
in e iew: i is qui e ascina ing o ollow his e lec ions on he opics ha he add essed
h oughou his ca ee , he choices ha he made, his expe iences in he ou uni e si ies
whe e he augh , his e alua ion o he e olu ion o schola ly ca ee s in economics and
his e lec ions on how bes o mo i a e s uden s.
The book is made up o nine chap e s. The i s wo chap e s ecall his you h, when he
was al eady obse ing wi h a c i ical eye he consume choices o his pa en s. Chap e 3
desc ibes his unde g adua e yea s a Camb idge, de ailing he peculia Camb idge each-
ing sys em and i s ipos. Chap e 4 is de o ed o a desc ip ion o his yea s as a esea ch
s uden , and he di icul ies ha he had in choosing and inally ge ing his hesis opic
app o ed. In hese wo chap e s we encoun e many o he amous pos -Keynesians,
and bo h chap e s desc ibe wha was being augh and discussed in he pos -Keynesian
Camb idge. Chap e s 5 o 8 a e de o ed o his ime in he ou uni e si ies in which
he wo ked: S i ling Uni e si y (whe e he me Sheila Dow), he Uni e si y o Tasmania,
Book Re iew
This is an open access wo k
Eu opean Jou nal o Economics and Economic Policies: In e en ion, Ad ance Access
Fi s published online: Ap il 2024; doi: 10.4337/ejeep.2024.0133
Jou nal compila ion © 2024 Edwa d Elga Publishing L d
© 2024 The Au ho
Book e iew 151
Jou nal compila ion © 2025 Edwa d Elga Publishing L d© 2025 The Au ho
Lincoln Uni e si y in New Zealand, and inally his 20 yea s spen a he Uni e si y o
Queensland in Aus alia. Each o hese ou chap e s ollow he same ou line. He discusses
how he ied o in oduce plu alism in he cou ses ha he augh , his obliga ions in
adminis a ion and se ice, a desc ip ion and he e olu ion o his wo k on he e odox beha-
iou al economics, his pa icipa ion in con e ences and a summa y o his published ou -
pu . The nin h and las chap e is de o ed o he wa nings ha he d aws om his own
expe ience: lessons o unde g adua e and doc o al s uden s and how hey should be
ained and supe ised; and lessons o schola s, in pa icula publica ion s a egies in
o de o achie e p omo ions and ge jobs in good uni e si ies wi hin he e e mo e chal-
lenging mains eam en i onmen . Ea l ecalls ha , al eady in 2002, he hough abou
w i ing a sho book on such ‘su i al s a egies o he e odox economis s’, a he ini ia i e
o he la e F ede ic Lee. The p ojec was le on pause o 20 yea s because o o he
engagemen s.
Besides his, Ea l’s book, Beyond Misbeha ing, is in ended o be a esponse o he book
Misbeha ing, w i en by Richa d Thale (2015), whe e he 2017 Nobel P ize lau ea e p o-
ides an accoun o his ca ee and con ibu ions o beha iou al economics, a s o y ha
Ea l judges o be misleading since i akes no accoun o pas and cu en he e odox con-
ibu ions o he ield.
1
Indeed, Ea l poin s ou ha i was a e ela ion o him when, in
2007, he ead Es he -Mi jam Sen ’s (2004) a icle whe e she clea ly dis inguished be ween
new and old beha iou al economics. S angely, he says ha he had no ye ully ealized
hen ha he (mainly) US-based wo k in beha iou al economics ha was gaining ac ion
in mains eam economics, and e e mo e so a e he 2008 inancial c isis, ‘was essen ially
a se o ad hoc modi ica ions o he es ablished iew o choice in closed se ings’(p. 315).
This was comple ely di e en om his own iew o beha iou al economics, inspi ed in
pa icula by he wo k o He be Simon, ba ely men ioned by Thale and o he new
beha iou al economis s.
2
Ea l was bemused by he ac ha his own su ey o beha iou al
economics, published in a well-known jou nal, he Economic Jou nal (Ea l 1990a), had
a ac ed a low numbe o ci a ions. One o he easons, he hough , was ha his a icles
spelled ‘beha iou al’in he English way, whe eas US con ibu o s spelled i as ‘beha io al’,
so ha (mos ly) US economis s using sea ching ools would be e e ed o new beha io al
con ibu ions ins ead o old beha iou al ones.
Ea l’s book is a e y de ailed accoun o his yea s as a s uden as well as his 40 yea s as
a eache and esea che . Ei he Ea l has kep a w i en eco d o all his encoun e s, job
in e iews, con e ences and in e ac ions wi h a ious colleagues, o he has a phenomenal
memo y, and e y likely bo h! Ano he ob ious quali y o he au ho is his abili y o
w i e abundan ly and easily. This can be asce ained in gene al by he e y la ge numbe
o books and pape s ha Ea l has published o e he yea s. Mo e speci ically, his
400-page book was appa en ly w i en wi hin nea ly a single yea , a e he au ho ’s
e i emen om he Uni e si y o Queensland a he end o 2020. In he mean ime,
he had comple ed he publica ion o ano he book, a la ge ad anced ex book, P inciples
o Beha io al Economics (Ea l 2022), wi h an Ame ican spelling (!), he sub i le o which
indica ing ha i s in en is ‘b inging oge he old, new and e olu iona y app oaches’.
3
1. Ea l (2018) also published a pape on Thale ’s wo k, which ga he ed o e 30,000 iews,
hanks o he decision o S e e P essman o make i open access in he Re iew o Poli ical Economy.
2. Ge d Gige enze (2008, p. 86) epo s ha Simon was himsel ooled by new beha iou al eco-
nomics, ini ially hinking ha cogni i e illusions and biases we e consis en wi h his iews o a ion-
ali y, only ealizing hey we e no in 1997 when he discussed his wi h Gige enze .
3. I ead his ex book, bu ound i less a ac i e han he p esen book.
2 Eu opean Jou nal o Economics and Economic Policies: In e en ion, Ad ance Access
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Eu opean Jou nal o Economics and Economic Policies: In e en ion, Vol. 22 No. 1
In i s au obiog aphical pa , Ea l is e y ha sh wi h himsel . On a numbe o occasions,
he men ions ha he ailed ‘ o ha e he kind o ca ee and impac ha [he] migh ha e had’
(p. 2). This he a ibu es o he ac ha he did no play he academic game adequa ely
and made se e al bad choices. Wi h espec o he ield o beha iou al economics, he
poin s ou as a majo ac o ha he should ha e done mo e good empi ical wo k based
on la ge esea ch g an s. Wi h espec o publica ions, he men ions ha he should ha e
a ge ed well- anked jou nals mo e equen ly; should ha e published less wo ks as
book chap e s, submi ing hem o jou nals ins ead; and should ha e spen mo e ime
on well- esea ched a icles and less ime on pape s o lesse quali y. He wonde s whe he
he did oo many book e iews, oo many edi ed books and oo much e e eeing du ies,
some imes due o he bad in luence o some o his ‘pa ons’. In e es ingly, Ea l sugges s
ha i is be e o ha e one’s wo k appea in a wo king pape se ies ha can be accessed by
sea ch ools han o publish in some li le-known jou nal ha ew uni e si y lib a ies can
access. F om his pas expe ience, as desc ibed in he i s eigh chap e s, Chap e 9 p o-
ides no less han 52 pages o ‘do’and ‘don’ ’lessons so as o a oid ailing o ealize one’s
po en ial. One migh say, i onically gi en his he e odox backg ound, ha Ea l p o ides
he ules ha would pe mi schola s o maximize hei academic success, subjec o he
cons ain s imposed by hei deans and esea ch assessmen agencies.
Despi e he p esence o se e al well- aken sugges ions, all o his is a bi dis essing
om a he e odox poin o iew. He e odox o pos -Keynesian jou nals, wi h a ew excep-
ions in some coun ies, a e a ely conside ed o be highly anked. I younge schola s we e
o s ic ly ollow he ad ice o Pe e Ea l, i would lead o he disappea ance o some o
hese jou nals and o a highly- educed low o a icles based on he e odox economics, and
hence a educ ion in he plu alism o economics ou pu .
4
Fu he mo e, a success ul ca ee
in e ms o p omo ions and emune a ion wi hin mains eam economics is no necessa ily
conduci e o well-being. The e a e ins ances o economis s wi h he e odox belie s, who
choose o wo k wi h mains eam models, bu whose heal h was badly a ec ed by his
inconsis ency. I migh be be e , as old beha iou al economis s would say, o pu sue a
‘sa is icing’s a egy.
5
Ea l himsel , as is clea om his bibliog aphy, did no ollow his own pieces o ad ice.
As he says, he did no comp omise his ‘key academic p inciples as a esea che and eache ’
(p. 350). On he eaching on , he elen lessly examined his s uden s h ough open-ended
ques ions, despi e he complain s o some o his s uden s who we e used o de e minis ic
answe s o o mul iple-choice ques ions. He pu sued he esea ch opics in which he was
in e es ed: beha iou al economics ollowing he he e odox app oach, as applied o consume
heo y, manage ial heo y, cos -plus p icing heo y and e en mac oeconomics; me hodology
and he u u e o he e odox economics; an examina ion o he economics o G.L.S. Shackle
and o He be Simon; and he w o e wo books on mone a y economics. I disco e ed ha
Pe e Ea l had w i en Mone a y Scena ios (1990b), a book o which I was o ally unawa e
despi e he ac ha mone a y economics is my main ield and despi e he ac ha he book
4. Indeed, he e a e examples o well-es ablished jou nals, especially when p in ed in languages
o he han English, which ha e disappea ed, o lack o submi ed a icles, because he s uden s
o hose unning hese jou nals we e old ha hey would no ge enu e unless hey published
in highly- anked US jou nals. Fo ins ance, in Canada, L’Ac uali é économique, a jou nal in which
all he amous F ench-Canadian economis s o he pas had published, olded a e 96 yea s o
exis ence.
5. Imad Moosa (2024) unde lines he de imen al consequences o he ‘publish o pe ish’ a
ace, in pa icula due o he demands o publish in ‘good’jou nals.
Book e iew 3
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bene i ed om se e al book e iews. This demons a es how di icul i can be o keep up
wi h he li e a u e!
Beyond Misbeha ing eads almos like a no el. I is eally an en e aining book, ull o
enligh ening anecdo es, which is ha d o pu away. Olde pos -Keynesian schola s will
ecognize se e al o he cha ac e s ha hey ha e me h ough he yea s. Besides he les-
sons o he las chap e , younge schola s will lea n how a p o icien and p oli ic esea che
has cons uc ed an eclec ic esea ch p og amme and how links can be made be ween a -
ious esea ch adi ions. They will lea n a lo abou he con en s and he mode n e olu ion
o ‘old’beha iou al economics. They will mee an ad oca e o beha iou al economics who
belie es ha bo h i s old and new e sions, bu mos ly he o me , can be combined wi h
pos -Keynesian and e olu iona y economics and con ibu e o hei imp o emen .
REFERENCES
Ea l, P.E. (1983): The Economic Imagina ion: Towa ds a Beha iou al Analysis o Choice, A monk,
NY: M.E. Sha pe.
Ea l, P.E. (1986): Li es yle Economics: Consume Beha iou in a Tu bulen Wo ld, B igh on, UK:
Whea shea .
Ea l, P.E. (1990a): Economics and psychology: a su ey, in: Economic Jou nal, 100(402), 718–755.
Ea l, P.E. (1990b): Mone a y Scena ios: A Mode n App oach o Financial Sys ems, Alde sho , UK:
Edwa d Elga .
Ea l, P.E. (2018): Richa d H. Thale : a Nobel p ize o beha iou al economics, in: Re iew o
Poli ical Economy, 30(2), 107–122.
Ea l, P.E. (2022): P inciples o Beha io al Economics: B inging Toge he Old, New and E olu iona y
App oaches, Camb idge, UK: Camb idge Uni e si y P ess.
Gige enze , G. (2008): Ra ionali y o Mo als: How People Cope wi h Unce ain y, Ox o d, UK:
Ox o d Uni e si y P ess.
La oie, M. (1994): A pos Keynesian app oach o consume choice, in: Jou nal o Pos Keynesian
Economics, 16(4), 539–562.
La oie, M. (2022): Pos -Keynesian Economics: New Founda ions, 2nd edn, Chel enham, UK and
No hamp on, MA, USA: Edwa d Elga Publishing.
Moosa, I.A. (2024): Publish o Pe ish: Pe cei ed Bene i s e sus Unin ended Consequences, 2nd edn,
Chel enham, UK and No hamp on, MA, USA: Edwa d Elga Publishing.
Sen , E.-M. (2004): Beha io al economics: how psychology made i s (limi ed) way back in o
economics, in: His o y o Poli ical Economy, 36(4), 735–760.
Thale , R.H. (2015): Misbeha ing: The Making o Beha io al Economics, New Yo k: W.W. No on.
4 Eu opean Jou nal o Economics and Economic Policies: In e en ion, Ad ance Access
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