457 Ergebnisse
Mainstream inflation theories in economics do little to explain the recent acceleration in price increases. The associated economic policy recommendations further increase the misery of low-income groups.
The inflation conundrum
Max Krahé explains the role of economic planning for a green transition.
The Whole Field - Markets, planning, and coordinating the green transformation
Was es konkret bedeutet, autonom handlungsfähig zu sein, hängt von den jeweiligen produktiven Machtverhältnissen ab. Ein Beitrag von Karoline Kalke zur Notwendigkeit und Illusion der Selbstbegrenzung.
Eine Frage der Autonomie
In deutschen Führungsetagen dominieren weiterhin die Männer. Warum das so ist und wie das verändert werden kann. Das hat verschiedene Ursachen. Ein Faktor jedoch: schlechtere Aufstiegschancen. Unter dem Begriff der gläsernen Decke diskutiert die Fachliteratur ein Phänomen, das unter anderem Frauen den Aufstieg in der Hierarchie verschiedener Organisationen nur bis zu einem bestimmten Punkt ermöglicht. Irgendwann stockt der Fahrstuhl und auch die Treppe führt nur vor eine verschlossene Tür. Für vergleichbar qualifizierte Männer ist sie jedoch offen. Warum ist das so und wie wird das Problem seitens der Politik angegangen?
Die gläserne Decke - Warum Frauen der Weg an die Spitze oft verwehrt ist
For some days, global financial markets are in turmoil. Central banks and governments are dealing with the unfolding crisis on a daily basis with seemingly u...
Replay of the financial crisis of 2008? What is different today, and what to expect?
Use economic models to learn how prices and markets benefit society in the face of scarcity and then apply those models to analyze policy Jonathan Gruber edX Massachusetts Institute of Technology
Microeconomics
This paper presents an overview of different models which explain financial crises, with the aim of understanding economic developments during and possibly after the Great Recession. In the first part approaches based on efficient markets and rational expectations hypotheses are analyzed, which however do not give any explanation for the occurrence of financial crises and thus cannot suggest any remedies for the present situation. A broad range of theoretical approaches analyzing financial crises from a medium term perspective is then discussed. Within this group we focused on the insights of Marx, Schumpeter, Wicksell, Hayek, Fisher, Keynes, Minsky, and Kindleberger. Subsequently the contributions of the Regulation School, the approach of Social Structures of Accumulation and Post-Keynesian approach, which focus on long-term developments and regime shifts in capitalist development, are presented. International approaches to finance and financial crises are integrated into the analyses. We address the issue of relevance of all these theories for the present crisis and draw some policy implications. The paper has the aim to find out to which extent the different approaches are able to explain the Great Recession, what visions they develop about future development of capitalism and to which extent these different approaches can be synthesized.
Theories of finance and financial crisis: Lessons for the Great Recession
In this podcast, Laura Basu focuses on how capitalist markets and nation-states perpetuate structural racism.
Is capitalism racist?
This paper attempts to clarify how the European economic crisis from 2007 onwards can be understood from the perspective of a Marxian monetary theory of value that emphasizes intrinsic, structural flaws regarding capitalist reproduction. Chapter two provides an empirical description of the European economic crisis, which to some extent already reflects the structural theoretical framework presented in chapter three. Regarding the theoretical framework Michael Heinrich's interpretation of 'the' Marxian monetary theory of value will be presented. Heinrich identifies connections between production and realization, between profit and interest rate as well as between industrial and fictitious capital, which represent contradictory tendencies for which capitalism does not have simple balancing processes. In the context of a discussion of 'structural logical aspects' of Marx's Critique of the Political Economy, explanatory deficits of Heinrich's approach are analyzed. In the following, it is argued that Fred Moseley's view of these 'structural logical aspects' allows empirical 'applications' of Marxian monetary theories of value. It is concluded that a Marxian monetary theory of value, with the characteristics of expansive capital accumulation and its limitations, facilitates a structural analysis of the European economic crisis from 2007 onwards. In this line of argument, expansive production patterns are expressed, among other things, in global restructuring processes, while consumption limitations are mitigated by expansive financial markets and shifts in ex-port destinations.
The European economic crisis from 2007 onwards in the context of a global crisis of over-production of capital - a Marxian monetary theory of value interpretation
This is an introductory level core course in macroeconomics for those expecting to take further courses in economics. It provides a theoretical and applied approach of introductory macroeconomics, with an international perspective and applications to account for the growing importance of the global economy and the rising openness of economies.
Introduction to Macroeconomics
This article provides a contextual framework for understanding the gendered dimensions of the COVID-19 pandemic and its health, social, and economic outcomes. The pandemic has generated massive losses in lives, impacted people’s health, disrupted markets and livelihoods, and created profound reverberations in the home. In 112 countries that reported sex-disaggregated data on COVID-19 cases, men showed an overall higher infection rate than women, and an even higher mortality rate. However, women’s relatively high representation in sectors hardest hit by lockdown orders has translated into larger declines in employment for women than men in numerous countries. Evidence also indicates that stay-at-home orders have increased unpaid care workloads, which have fallen disproportionately to women. Further, domestic violence has increased in frequency and severity across countries. The article concludes that policy response strategies to the crisis by women leaders have contributed to more favorable outcomes compared to outcomes in countries led by men.
Feminist Economic Perspectives on the COVID-19 Pandemic
In diesem Beitrag diskutiert Ingo Stützle die Modern Monetary Theory (MMT) kritisch aus einer an Marx orientierten Ökonomiekritik. Dabei wird argumentiert, dass die MMT zwar wichtige Fragen aufwirft, aber weder einen adäquaten Begriff von Geld noch von Kapitalismus hat, was mitunter zu Fehlschlüssen führt. Dabei ist der wesentliche Punkt, dass die MMT auf der Basis eines falschen Verständnisses von Geld die notwendige Begrenztheit staatlicher Verfügungs- und Gestaltungsmacht im Kapitalismus nicht versteht.
Eine Kritik der Modern Monetary Theory als geldtheoretisches Konzept
This short video visualizes the destabilizing effects financial markets can have on food prices, based on a paper by Jayati Ghosh. It introduces and explains the idea of future contracts and how those are used to speculate with basic food stuffs. After establishing the concepts, the video sketches out how the increase in those practices resulted in a substantial rise and later collapse of food prices around 2008 with severe consequences for many developing countries and their people.
Food and Finance
Das Paradigma der ökologischen Ökonomie (Ecological Economics) stellt einen multidisziplinärern Ansatz dar, um ein ganzheitliches Bild der wachsenden ökologischen Probleme und ihrer Verflechtungen mit der Ökonomie zu erhalten. Sie beschäftigt sich mit Ressourcenknappheit, Umweltverschmutzung, Klimawandel, Nahrungsmittelknappheit oder sozialer Ungleichheit. Hierbei werden wissenschaftliche Disziplinen wie Ökologie, Ökonomie, Physik und zunehmend auch andere Sozial- und Geisteswissenschaften (z.B. Soziologie oder Philosophie) herangezogen, mit dem Ziel, im ökonomischen Denken auch ökologische, ethische, politische, institutionelle und soziale Faktoren zu berücksichtigen. In diesem Zusammenhang werden nichtzuletzt deshalb auch wesentliche Grundannahmen der orthodoxen Ökonomie sehr kritisch betrachtet (Constanza 1989, Ayres 2008, Spash 2010).
Ökologische Ökonomie
Für die Spieltheorie bedeutet eine kritische Masse, dass nicht die gesamte Gruppe von einer Strategie überzeugt werden muss, sondern dass es ausreicht, eine bestimmte Anzahl von Teilnehmern von dieser Strategie zu überzeugen. Ist dieser Schwellenwert überschritten, die kritische Masse erreicht, wird sich diese Strategie selbsttragend durchsetzen.
Kritische Masse
After completing the module, participants should have gained a basic understanding of the economic school of thought referred to as "Modern Monetary Theory" and should be able to analyze the monetary processes at play in the economy and evaluate fiscal and monetary policy decisions from an MMT-perspective.
Introduction to Modern Monetary Theory
The goal of the course is to deepen students’ understanding of the Latin American development experience by viewing it through a gender lens.
Gender in Latin American Development
The Atlas of Economic Complexity is an award-winning data visualization tool that allows people to explore global trade flows across markets, track these dynamics over time and discover new growth opportunities for every country.
Atlas of Economic Complexity
Understanding the financial crisis from four very different economic theories: Social Economics, Institutional Economics, Post Keynesian economics.
Economics from a pluralist perspective
This is an introductory course into economics that navigates the intellectual history of political economy in a self-contained and non-technical manner. The course centres on the classical concept of political economy by emphasizing the moral and ethical problems that markets solve or may not solve.
Capitalism & Political Economy
Islamic finance's phenomenal growth owes to the Shariah compliant nature of its financial instruments. Shariah forbids the charging of interest (Riba) and instead promulgates risk-sharing and trade-based modes of financing. The Islamic financial industry has been subject to both critique and admiration. Critics argue that Islamic instruments (bearing debt-based structures) differ from their conventional counterparts only in legal lexicon and not in economic impact.
Rethinking Islamic Finance
Mr Minsky long argued markets were crisis prone His moment has arrived The Wall Street Journal In his seminal work Minsky presents his groundbreaking financial theory of investment one that is startlingly relevant today He explains why the American economy has experienced periods of debilitating inflation rising unemployment and marked …
Stabilizing an Unstable Economy
Gender Development and Globalization is the leading primer on global feminist economics and development. Gender is a development issue because social considerations are not easily incorporated into institutions such as policies, regulations, markets and organizations. This process is often referred to as the mainstreaming of gender in development institutions.
Gender Development and Globalization
Professor Jennifer Clapp explains the dynamics of financialization of land and agricultural commodities in Subsaharan Africa. She points to the historical roots of accelerated land speculation and their connection to financial institutions, both generating and reinforcing the process of financialization of African land. Besides talking about roots and dynamics of speculation with land on financial markets, she puts the perspective of scholarly investigation onto the investor's side in discussing guidelines of responsible investment and regulation in the front instead of focussing on the receiving countries.
Land and Financialization: Role of International Financial Actors in Land Deals in Africa
The effects of the 2020 pandemic on the Latin-American region: a thorough before-after analysis.
COVID-19 and Economic Development in Latin America
In the pluralist showcase series by Rethinking Economics, Cahal Moran explores non-mainstream ideas in economics and how they are useful for explaining, understanding and predicting things in economics.
Pluralist Showcase
This lecture of the anthropologist David Graeber gives a brief introduction to the thoughts of his 2011 published book Debt: The First 5000 Years.
Debt: The First 5,000 Years
This article considers the strengths of agent-based modelling and the ways that it can be used to help central banks understand the economy. These models provide a complement to more traditional economic modelling which has been criticised in the wake of the Great Recession.
Agent-based models: understanding the economy from the bottom up
Recording of the Workshop “The collateral supply effect on central banking”, 04.02.2021, part of the "Next Generation Central Banking - Climate Change, Inequality, Financial Instability" conference by the Heinrich-Böll-Stiftung
NextGen Central Banking: The collateral supply effect on central banking
This panel was part of the conference "Next Generation Gentral Banking - Climate Change, Inequality, Financial Instability" 03. - 05.02.2021.
NextGen Central Banking: How the coronavirus almost brought down the global financial system
This panel was part of the conference "Next Generation Gentral Banking - Climate Change, Inequality, Financial Instability" 03. - 05.02.2021.
NextGen Central Banking: Central Banking Beyond Inflation
This course introduces students to political economy and the history of economic thought. We will cover the core ideas in various schools of economic thought, positioning them in the historical and institutional context in which they were developed. In particular, we will cover some economic ideas from the ancient world and the middle ages; the enlightenment; the emergence of and main ideas in classical political economy (Adam Smith, David Ricardo, Thomas Malthus, and others); Marx, Mill, and Keynes; European versus American economic thought through history; the rise of mathematical economics; economic theories around state-managed economies versus socialism; Austrian economics; behavioral economics; and the future of economics.
Political Economy and the History of Economic Thought
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