Michel Aglietta, who died on April 24, 2025, was one of the greatest economists of his generation. A thinker on capitalism, its macroeconomic dynamics and money, recognized by historians, anthropologists and political scientists, he embodied the figure of the economist rooted in the social sciences. His way of breaking down disciplinary barriers to reconcile the economic, the social and, more recently, the ecological, is the antithesis of contemporary practices of excessive specicialization that hinders our understanding of the world's complexity and our ability to meet the challenges we face.
Michel Aglietta was co-founder of two schools of thought: the regulatory approach with Robert Boyer and the institutionalist theory of money with André Orléan, both of which have a close cross-fertilization relationship.
Michel Aglietta's work offers a theoretical reading of the evolution and crises of capitalism, combining the theoretical influences of major thinkers on capitalism such as Marx, Keynes, Kalecki, Minsky and Polanyi, as well as contributions from other social sciences.It also draws on contributions from other social sciences, most notably history and the influence of Braudel and the German historical school. The regulationist research program and the institutionalist approach to money have their origins in a radical critique of the neoclassical research program, which focuses not on capitalism but on the market economy, and ignores money. Michel Aglietta's thinking is the antithesis of neoclassical thinking. Pure, decontextualized, a-historical theory has no place here. Whatever the field studied - money, financial instability, wage relations or ecological transition - the economic, social and political are never dissociated.
The research programs initiated and developed by Michel Aglietta have recently undergone a profound renewal in response to the challenge of ensuring the ecological sustainability of our system of accumulation. This is evidenced by the emergence of a young generation of researchers who recognize themselves in these programs and research approaches, and some of whom, following the example of Michel Aglietta, have taken up the challenge of the ecological sustainability of our system of accumulation. like Michel Aglietta in the latter part of his life, are attempting to bridge the gap between regulatory theory and ecological economics.
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