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In a capitalist system, consumers, investors, and corporations orient their activities toward a future that contains opportunities and risks. How actors assess uncertainty is a problem that economists have tried to solve through general equilibrium and rational expectations theory. Powerful as these analytical tools are, they underestimate the future's unknowability by assuming that markets, in the aggregate, correctly forecast what is to come.
Imagined Futures
The productive work of widely distributed academic research has contributed substantially, over the postwar period, to important advances in our understanding. It has also offered a clearer recognition of many unresolved problems. Never theless, the progress achieved over the last decades, ex hibited by the systematic application of "theory" to actual issues and observable problems, could not overcome a per vasive sense of dissatisfaction.
Economics Social Institutions
Although sometimes used as synonyms, economic growth and economic development refer to different processes. While economic growth refers to an increase in real national income and output (i.e., GDP growth rate), economic development refers to an improvement in the quality of life and living standards (i.e., life expectancy).
Could gender equality help the economy?
After completing the module, participants should have knowledge and understanding about the theory of Critical Political Economy and its basic methods. They should be able to apply central concepts to analyse critical questions regarding the embeddedness of economic relations within broader social, political and ecological relations.
Marxist Political Economy
Mainstream economic theory has been increasingly questioned following the recent global financial crisis. Marc Lavoie shows how post-Keynesian theory can function as a coherent substitute by focusing on realistic assumptions and integrating the financial and real sides of the economy.
Post-Keynesian Economics
An Introduction to the Political Theory of John Maynard Keynes. John Maynard Keynes was arguably the greatest economist of the 20th century. He discovered the idea that governments should stimulate demand during economic downturns.
An Introduction to the Political Theory of John Maynard Keynes
John Harvey's accessible book provides a non-technical yet rigorous introduction to various schools of thought in economics. Premised on the idea that economic thinking has been stunted by the almost complete rejection of anything outside the mainstream, the author hopes that this volume will open readers' minds and lead them in new and productive directions.
Contending Perspectives in Economics
This lecture course, which will be taught in English, will deal with gender issues in developing countries. After providing an overview of the gender differences in various aspects of welfare and economic life, the course will then tackle a number of specific issues.
Gender and Development
Green Growth has been increasingly discussed as a solution to the socio-ecological crisis. But can economic growth be sustainable at all?
Is Green Growth a myth?
The Learning Economy and the Economics of Hope' brings together the most important contributions by an expert on policies, management and economics of innovation and knowledge. It offers original insights in processes of innovation and learning and it draws implications for economic theory and public policy. It introduces the reader to important concepts such as innovation systems and the learning economy.
The Learning Economy and the Economics of Hope
This book provides important insights into agrarian history and the economic and cultural meanings associated with land.
The Cultural Economy of Land
This brief but comprehensive account of the Post Keynesian approach to economic theory and policy is ideal for advanced undergraduate and postgraduate students in economics, public policy and other social sciences. Clear, non-technical and with a strong policy focus, it will also appeal to all of those who are dissatisfied with mainstream economics and wish to explore the alternatives.
Advanced Introduction to Post Keynesian Economics
It has become a contentious term in- and outside of economic policy: austerity. Allegedly the culprit behind the shortfalls of governments' reaction to the Great Financial Crisis, the policy makes for a spirited debate.
Austerity
From religious leaders to heads of state, everyone is talking about economic inequality. What form can such inequality take in different countries? What impact does it have on society? And why should it matter to you?
Challenging Wealth and Income Inequality
Austerity has been at the center of political controversy following the 2008 financial crisis, invoked by politicians and academics across the political spectrum as the answer to, or cause of, our post-crash economic malaise.
Austerity
In this keynote speech, Roger Backhouse gives a historical overview of theories on secular stagnation: how it evolved from a description of the economic situation, especially in the U.S. of the 1930s to an analytical tool and then lost importance until its current revival. Backhouse touches upon the contributions of J. A. Hobson, Alvin Hansen, Evsey Domar and Paul Samuelson.
Theories of stagnation in historical perspective
The main goal of this website is to make Economics less confusing. You can explore what the discipline of Economics is and could be. Learn about basic Economic terms and jargon.
ecnmy.org - What is the Economy?
In this talk Robert Skidelsky analyses how sociology did and could enrich economic analyses, but also how critical sociological insights have been colonised by mainstream economics.
How Can Sociology Help Economics?
In this video, Rajan Raghuram highlights ‘A hereditary Meritocracy’. He identifies the “limitations” with the current economic systems of democracy and markets.
A Hereditary Meritocracy
In this podcast, Professor Darrick Hamilton critically discusses how current neoliberal economic models uphold a systemically racially unjust structure of economies.
EQUALS: Racism, Rebellions and the Economy
An overview of the last century economic theories asking what makes a heterodox economist. This lecture focuses on the evolution of the various academic traditions in economics. Lavoie presents his own typology for categorising seminal work within the post-Keynesian tradition while leaving space to acknowledge that categories are not binary, but can be used to help understand the different traditions, and how they have developed over the last decades.
History and fundamentals of Post Keynesian Macroeconomics
Podcast series with six 12-minute parts introducing the the values and ideas behind our neoliberal economic system: where it came from, how it spread, and how we could do things differently.
Beginner’s Guide to Neoliberalism
Many economists refer to economic growth as a cake that is supposed to grow for the benefit of all.
Social Limits to Growth
Based on a paper by Jason Hickel and Giorgos Kallis Decoupling refers to the separation of economic value creation material extraction and pollution. Ecological limits pose a challenge to growth-led development and the low historical and predicted rate of decoupling suggests that long-term sustainable growth-led development is impossible.
Degrowth and Environmental Justice: Decoupling
As the global economic landscape evolves, demographics shift, inequality expands, climate change gets worse and technology continues to advance at breakneck speed, Gross Domestic Product (GDP) is struggling to stay relevant.
Beyond GDP - Wellbeing Economy, Happiness Index and the postgrowth debate
Lean Logic is the late David Fleming’s masterpiece, the product of more than thirty years’ work and a testament to the creative brilliance of one of Britain’s most important intellectuals. A dictionary unlike any other, it leads readers through Fleming’s stimulating exploration of fields as diverse as culture, history, science, art, logic, ethics, myth, economics, and anthropology, being made up of four hundred and four engaging essay-entries covering topics such as Boredom, Community, Debt, Growth, Harmless Lunatics, Land, Lean Thinking, Nanotechnology, Play, Religion, Spirit, Trust, and Utopia. The threads running through every entry are Fleming’s deft and original analysis of how our present market-based economy is destroying the very foundations—ecological, economic, and cultural— on which it depends, and his core focus: a compelling, grounded vision for a cohesive society that might weather the consequences
Lean Logic: A Dictionary for the Future and How to Survive It
Is inflation just a number game or does it hold deeper societal implications? Join Isabella Weber (@UMass.Amherst) as she challenges traditional economic stances on inflation and delves into the social dimensions of pricing. Discover how context shapes our reactions to price hikes and why understanding this can be a game-changer.
Sellers Inflation
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
This volume explores the relationship between law and economics principles and the promotion of social justice. By social justice, we mean a vision of society that embraces more than traditional economic efficiency. Such a vision might include, for example, a reduction of subordination and discrimination based on race, religion, gender, sexual orientation, age, disability or class.
Law and Economics
The 2007-2010 economic crisis has profoundly shaken the foundations of mainstream financial economics. The apparent falsification of core concepts such as risk diversification, informational efficiency and valuation efficiency by an unexpected course of events has revealed the need to redefine the objectives and direction of research today.
After the Crisis
This book is a collection of articles on topics and individuals within the history of heterodox economic thought, approached from a heterodox perspective. The principal topics are the nature and scope of economics as an intellectual venture.
Essays in the History of Heterodox Political Economy
This book contends that post Keynesian economics has its own methodological and didactic basis, and its realistic analysis is much-needed in the current economic and financial crisis.
Teaching Post Keynesian Economics
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