553 Ergebnisse
During his life, Keynes was credited with, amongst other things, with helping to save capitalism from the Great Depression, funding the war against the Nazis and building post-war decades of growth and rising prosperity. And when the global crisis struck in 2008, it was his ideas that the world's leaders turned to help avoid another depression.
Masters Of Money | John Maynard Keynes
Andrew McAfee about the history of human progress and the modern uncoupling of our prosperity from resource consumption. They discuss the pitfalls and hidden virtues of capitalism, technological progress, environmental policy, the future of the developing world, and other topics.
The Great Uncoupling A Conversation with Andrew McAfee
This journal article by Radhika Desai, Professor at the Department of Political Studies, and Director of the Geopolitical Economy Research Group at the University of Manitoba, Winnipeg, Canada, was originally published in 2010 and republished in an revised format in 2020. The article is a comprehensive treatment of Marx's theory of crisis, focusing on the role of consumption demand in capitalism and in the emergence of crises.
Consumption demand in Marx, his crisis theories and in the current crisis
In this virtual teach-in, radical economists David McNally (author of the essential Global Slump) and Hadas Thier (author of the forthcoming A People’s Guide to Capitalism) will try to help activists make sense of the twists, turns, and sudden collapses in the world economy that have been playing out in the background during this global health emergency.
Microbes and Macroeconomics: Understanding the Pandemic and the Global Slump
The principle of effective demand, and the claim of its validity for a monetary production economy in the short and in the long run, is the core of heterodox macroeconomics, as currently found in all the different strands of post-Keynesian economics (Fundamentalists, Kaleckians, Sraffians, Kaldorians, Institutionalists) and also in some strands of neo-Marxian economics, particularly in the monopoly capitalism and underconsumptionist school In this contribution, we will therefore outline the foundations of the principle of effective demand and its relationship with the respective notion of a capitalist or a monetary production economy in the works of Marx, Kalecki and Keynes. Then we will deal with heterodox short-run macroeconomics and it will provide a simple short-run model which is built on the principle of effective demand, as well as on distribution conflict between different social groups (or classes): rentiers, managers and workers. Finally, we will move to the long run and we will review the integration of the principle of effective demand into heterodox/post-Keynesian approaches towards distribution and growth.
The principle of effective demand: Marx, Kalecki, Keynes and beyond
The current Great Recession, the worst crisis that capitalism has faced since the Great Depression, has failed, at least so far, to generate a change in the teaching and practice of Macroeconomics. This seems bizarre as if nothing has happened and the economists are just going about doing business as usual. In light of this, the current paper attempts to address how Macroeconomics ought to be taught to students at the advanced intermediate level, which gives them an overall perspective on the subject.
Plurality in Teaching Macroeconomics
In this video, Clara Mattei investigates the function of austerity in relation the stabilization of capitalism as a form of social order build around private property, wage labor and class relations. In order to develop this argument, she situates austerity in the history of World War 1 and its revolutionary aftermath. Zooming in on the politicization of the economy and the associated threat to class society that emerged in the period, she highlights how austerity was a „tool of reaction“ that was successful in curtailing demands for economic democracy and a society free from class oppression.
The Capital Order - How Economists Invented Austerity & Paved the Way to Fascism
The book is a collection of 51 texts by different scholars and activists, who each adds a dimension/perspective to the topics of degrowth and societal transformation. A societal transformation towards a degrowth society is dependent on a lot of ideas coming together and creating change from various starting points within a society. Therefore, the authors are quite diverse and their contributions vary from being philosophical, natural science based, economic, sociological and so forth. Some are specfiically focused on a concept and others are a more broad critique of e.g., capitalism or growth.
Degrowth
In the first intellectual history of neoliberal globalism, Quinn Slobodian follows neoliberal thinkers from the Habsburg Empire’s fall to the creation of the World Trade Organization to show that neoliberalism emerged less to shrink government and abolish regulations than to deploy them globally to protect capitalism.
Globalists
Pluriverse: A Post-Development Dictionary contains over one hundred essays on transformative initiatives and alternatives to the currently dominant processes of globalized development, including its structural roots in modernity, capitalism, state domination, and masculinist values.
Pluriverse: A Post-Development Dictionary
Readers of economic and political theory as well as students of economic planning will appreciate this classic, now available for the first time in English. Written eighty years ago, when Sorel became disillusioned with the official socialism of the German and French Marxist parties, this new translation presents Sorel's analysis of the rise and fall of the two great modern ideologies: socialism and liberal capitalism.
Social Foundations of Contemporary Economics
This course introduces students to the relevance of gender relations in economics as a discipline and in economic processes and outcomes. The course covers three main components of gender in economics and the economy: (1) the gendered nature of the construction and reproduction of economic theory and thought; (2) the relevance and role of gender in economic decision-making; and (3) differences in economic outcomes based on gender. We wil touch on the relevance of gender and gender relations in at least each of the following topics: economic theory; the history of economic thought; human capital accumulation; labor market discrimination; macroeconomic policy, including gender budgeting; household economics; basic econometrics; and economic crises.
Gender Relations and Economics
After a brief illustration of sovereign green bonds’ features, this paper describes the market evolution and identifies the main benefits and costs for sovereign issuers. The financial performance of these securities is then analysed.
Green Bonds: the Sovereign Issuers’ Perspective
Part I: Basic Economic Problems Is Economics a Science? Is It Useful? (Lawrence Boland, Ian Parker) Is There Such a Thing as a Free Market? (William Watson, Robert Prasch) Part II: Consumers and Firms Is Homo Economicus an Appropriate Representation of Real-World Consumers? (Joseph Persky, Morris Altman) Is the Consumer Sovereign?
Introducing Microeconomic Analysis
In this essay the authors argue for a wider concept of care work that includes community building, civic engagement and environmental activism. On the basis of the case of Cargonomia, a grassroot initiative in Budapest, they show that such a wider concept of care work could allow for different narratives that promote sustainable lifestyles with a milder environmental and social impact on the planet and its communities.
Reimagining the world of (care)work: the case of Cargonomia
This content submission has two parts: (1) a link to the post by Wolf Richter on deterioration of US subprime credit card debt and loans, driven in part by the overuse of hedonic quality adjustments in the Consumer Price Index (CPI) used by the US Bureau of Labor Statistics, and (2) to introduce Exploring Economics to the website Naked Capitalism, which is an effort to promote critical thinking through the medium of a finance and economics blog and fearless commentary.
What’s Behind the Subprime Consumer Loan Implosion?
Mariana Mazzucato explains how we lost sight of what value means and why we need to rethink our current financial systems so capitalism can be steered toward a bold, innovative and sustainable future that works for all of us.
What is economic value, and who creates it?
While many are unsatisfied with capitalism and critique it in highly sophisticated ways, there are few concrete proposals for a socialist mode of production that could replace the capitalist one. Daniel E. Saros has developed such a proposal in his book "Information Technology and Socialist Construction – The End of Capital and the Transition to Socialism" which we discuss at length over the course of two episodes.
Daniel E. Saros on Digital Socialism and the Abolition of Capital
This episode of the Future Histories Podcast featuring Moira Weigel sets the development of digital capitalism and the right-ward shift in politics and society in relation to one another. It provides a masterful combination of ideology critique and polit-economic analysis grounded in comprehensive knowledge of the digital economy.
Moira Weigel on Palantir, Tech-Nationalism & Aggression in the Life-World
This blog post reviews "Democratizing Finance", an edited volume that analyses and provides policy proposals to ensure that the financial system serves the public good. Mquzama undertakes the task of summarising the main takeaways from each essay in the book as well as an exposition of its shortfalls. While he acknowledges the necessity of the book's reimaging capitalism and the financial system in a way that is practical within the current economic and political structures, he also highlights its failure to look beyond the United States of America.
Book Review: Democratizing Finance
An essay of the writing workshop on Nigeria’s Readiness for and the Effect of the Fourth Industrial Revolution
The Fourth Industrial Revolution: Economic Impact and Possible Disruptions
Post-Keynesians focus on the analysis of capitalist economies, perceived as highly productive, but unstable and conflictive systems. Economic activity is determined by effective demand, which is typically insufficient to generate full employment and full utilisation of capacity.
Post-Keynesian Economics
MERCOSUR (Mercado Común del Sur or Common Southern Market) was the first formalized attempt to integrate South American countries economically and politically.
How can MERCOSUR move forward?
Social and Solidarity Economy (SSE) and Feminist Economics make a conjoint statement: The way we see the economic system has nothing to do with human beings nor those who have been surviving outside the market.
Decolonial Feminist Economics: A Necessary View for Strengthening Social and Popular Economy
The dominant view of inflation holds that it is macroeconomic in origin and must always be tackled with macroeconomic tightening. In contrast, we argue that the US COVID-19 inflation is predominantly a sellers’ inflation that derives from microeconomic origins, namely the ability of firms with market power to hike prices.
Sellers’ Inflation, Profits and Conflict: Why can Large Firms Hike Prices in an Emergency?
Neoliberalism is dead. Again. After the election of Trump and the victory of Brexit in 2016, many diagnosed the demise of the ideology of Margaret Thatcher, Ronald Reagan, Augusto Pinochet, and the WTO. Yet the philosophy of the free market and the strong state has an uncanny capacity to survive and even thrive in crisis.
Nine Lives of Neoliberalism
Usually, Critical Theory and Economics are, for better or worse, no longer seen to be in a continuum. This article by Lukas Meisner serves as an introduction to Critical Theory for all (heterodox) economists, who want to understand and explain what they can, otherwise, just state and describe.
Critical Theory for Heterodox Economists: Questioning the Premises of Supply and Demand
In this searing and insightful critique, Adrienne Buller examines the fatal biases that have shaped the response of our governing institutions to climate and environmental breakdown, and asks: are the 'solutions' being proposed really solutions? Tracing the intricate connections between financial power, economic injustice and ecological crisis, she exposes the myopic economism and market-centric thinking presently undermining a future where all life can flourish.
The Value of a Whale
Jens Beckert and Richard Bronk, authors of "Uncertain Times", explore the extent to which flaws, blind spots and more importantly bias created by macroeconomics models, based on forecasts and statistical devices, shape crisis and the market economy in which we live.
Economics for Uncertain Times
After completing the module, participants should be able to understand the economic consequences of gender inequality. They should be able to explain the contradictions between capital and care, analyze the labor market with a gender perspective and develop the ability to describe phenomena such as public policies taking into account "gender" as a category of analysis.
Feminist Economics
This book arose from our conviction that the NNS-DSGE approach to the analysis of aggregate market outcomes is fundamentally flawed. The practice of overcoming the SMD result by recurring to a fictitious RA leads to insurmountable methodological problems and lies at the root of DSGE models’ failure to satisfactorily explain real world features.
Macroeconomics from the Bottom-up
Debunking Economics - Revised and Expanded Edition exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking Economics was published back in 2001, the market economy seemed invincible, and conventional "neoclassical" economic theory basked in the limelight.
Debunking Economics - Revised and Expanded Edition
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