687 Ergebnisse
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
This essay suggests to bring together two aspects of economic thought which so far have developed largely separately: degrowth and feminist economics. In this strive, the concept of care work and its role in feminist economics will be introduced and the downsides of the commodification of care work will be discussed. Subsequently, contributions to the discussion on the (re)valuation of care work will be taken into account.
Who cares? A convergence of feminist economics and degrowth
In this essay, the principle of capital accumulation, as well as the idea of homo economicus as the basis of the growth model, are located and analyzed from a feminist perspective. The sufficiency approach is presented as an alternative to these two economic logics.
Enough! The Sufficiency Approach and the Limits of Economic Growth
How can we establish new institutions and practices in order to use fare-free public transport as a beacon for sustainable mobility and a low-carbon lifestyle? The author of this essay elaborates on how practice theory and institutional economics can help to answer this question.
Towards a practice of fare-free sustainability
Welche Einführungslehrbücher werden im volkswirtschaftlichen Studium verwendet? Und welche Lehrbücher werden am häufigsten genutzt?
Welche Lehrbücher werden in der VWL verwendet?
This book introduces 40 critical pointers for those who wish to see the theory in a broader, more realistic context. The material is suitable for introductory and intermediate courses and can be included selectively by students for additional reading or in lectures or tutorials as discussion points. "Students of mainstream economics need a guide like this to help them understand the underlying assumptions, limitations and inbuilt biases of what they are studying. It helps them open their eyes to a broader view of how real economies work."
40 Critical Pointers for Students of Economics
Economics: A New Introduction provides a fresh introduction to real economics. Highlighting the complex and changing nature of economic activity, this wide-ranging text employs a pragmatic mix of old and new methods to examine the role of values and theoretical beliefs in economic life and in economists understanding of it.
Economics
As seen with the United Nations significant promotion of the Sustainable Development Goals (SDGs) in the past few years, the issue of global development is of growing concern to many international organizations. As humanity continues to become more interconnected through globalization, the inequalities and injustices experienced by inhabitants of impacted countries becomes increasingly clear. While this issue can be observed in the papers of different types (e.g., different schools of thought) of economists throughout the world, the work of behavioral and complexity economists offer a unique, collaborative perspective on how to frame decisions for individuals in a way that can positively reverberate throughout society and throughout time.
Behavioural vs Complexity Economics: Approaches to Development
This article, looks at the complex interaction between an urban economy and the vegetation within that urban area. In summary, numerous studies have found a positive link between increased vegetation and social as well as personal health. It makes a case for increasing urban vegetation as a way to benefit local economies.
Urban Arbonomics | The Complex Nature of Urban Vegetation
Popular anger against the financial system has never been higher, yet the practical workings of the system remain opaque to many people. The Heretic's Guide to Global Finance aims to bridge the gap between protest slogans and practical proposals for reform.
The Heretics Guide to Global Finance
This edited volume presents a collection of articles that engage with various concepts from Marx’s Capital and Marxian theory in general, from a ‘Southern’ perspective. The book engages with four specific themes: “Reception of Capital in the East; Value, Commodity, Surplus Value and Capitalism; Population and Rent in Capital; and Issues Beyond Capital”.
‘Capital’ in the East
The bestselling classic that examines the history of economic thought from Adam Smith to Karl Marx—“all the economic lore most general readers conceivably could want to know, served up with a flourish” (The New York Times). The Worldly Philosophers not only enables us to see more deeply into our history but helps us better understand our own times. In this seventh edition, Robert L. Heilbroner provides a new theme that connects thinkers as diverse as Adam Smith and Karl Marx.
The Worldly Philosophers
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
In this essay the author reviews empirical studies in economics that analyze factors behind the rise of nationalist and populist parties in Western countries. He stresses that economic factors (e.g., trade shocks and economic crisis) play a crucial role in the rise of populist parties; however, the discussion of mechanisms driving this trend remains unsatisfying
The Economics of Populism in the Present
This groundbreaking collection explores the profound power of Social Reproduction Theory to deepen our understanding of everyday life under capitalism. It tackles issues such as child care, health care, education, family life and the roles of gender, race and sexuality, and shows how they are central to understanding the relationship between economic exploitation and social oppression.
Including contributions by: Lise Vogel, Nancy Fraser, David McNally and Susan Ferguson.
Social Reproduction Theory
An essay of the writing workshop on contemporary issues in the field of Nigerian economics: Labour and all the dynamics, such as laws, mobility, gender participation, regulation etc., that are associated with it cements the need for this paper which seeks to objectively review, analyse, and if deemed necessary, give plausible recommendations.
Labour market: Applicable Labour Market Models and Gender Issues
How do people make decisions? There is a class of models in psychology which seek to answer this question but have received scant attention in economics despite some clear empirical successes. In a previous post I discussed one of these, Decision by Sampling, and this post will look at another: the so-called Fast and Frugal heuristics pioneered by the German psychologist Gerd Gigerenzer. Here the individual seeks out sufficient information to make a reasonable decision. They are ‘fast’ because they do not require massive computational effort to make a decision so can be done in seconds, and they are ‘frugal’ because they use as little information as possible to make the decision effectively.
Bounded Rationality: the Case of ‘Fast and Frugal’ Heuristics
The notion that the demand and supply side are independent is a key feature of textbook undergraduate economics and of modern macroeconomic models. Economic output is thought to be constrained by the productive capabilities of the economy - the ‘supply-side' - through technology, demographics and capital investment. In the short run a boost in demand may increase GDP and employment due to frictions such as sticky wages, but over the long-term successive rises in demand without corresponding improvements on the supply side can only create inflation as the economy reaches capacity. In this post I will explore the alternative idea of demand-led growth, where an increase in demand can translate into long-run supply side gains. This theory is most commonly associated with post-Keynesian economics, though it has been increasingly recognised in the mainstream literature.
It’s Demand All the Way Down
Ökonomen wie Wirtschaftspolitiker berufen sich auf die Neutralitätstheorie des Geldes, wenn sie eine Entpolitisierung der Geldpolitik fordern.
Die Neutralitätstheorie des Geldes
Firms are the primary places where economic activity takes place in modern capitalist economies: they are where most stuff is produced; where many of us spend 40 hours a week; and where big decisions are made about how to allocate resources. Establishing how they work is hugely important because it helps us to understand patterns of production and consumption, including how firms will react to changes in economic conditions and policy. And a well-established literature – led by post-Keynesians and institutionalists – holds that the best way to determine how firms work is to…wait for it...ask firms how they work. This a clearly sensible proposition that is contested in economics for some reason, but we’ll ignore the controversy here and just explore the theory that springs from this approach.
The ‘How Firms Work’ Approach to How Firms Work
Environmental catastrophe looms large over politics: from the young person’s climate march to Alexandria Ocasio-Cortez’s Green New Deal, increasing amounts of political space are devoted to the issue. Central to this debate is the question of whether economic growth inevitably leads to environmental issues such as depleted finite resources and increased waste, disruption of natural cycles and ecosystems, and of course climate change. Growth is the focal point of the de-growth and zero-growth movements who charge that despite efficiency gains, increased GDP always results in increased use of energy and emissions. On the other side of the debate, advocates of continued growth (largely mainstream economists) believe that technological progress and policies can ‘decouple’ growth from emissions.
To Grow or Not to Grow?
What is the working class under present circumstances and in particular in urban lives? David Harvey explains how the concept of the working class is still suitable for the current organization of work – even if working conditions changed, now being more service-oriented and diffused. Harvey further discusses how this diffused working class can organize via urban neighbourhoods.
The Revolutionary Class Today
In the second video of the series Investigating International Finance, an alternative view on capital controls is given contrasting with the paradigm of classical trade theory which suggests that the removal of trade and capital barriers is associated with higher market efficiency. After explaining the conceptual mechanisms underlying capital controls, examples are introduced where countries actually apply capital controls and how these controls have been associated with a lesser exposure to international financial crises spillovers.
Tax Havens - Investigating International Finance
In the second video of the series Investigating International Finance, an alternative view on capital controls is given contrasting with the paradigm of classical trade theory suggesting that the removal of trade and capital barriers is associated with higher market efficiency. After explaining the conceptual mechanisms underlying capital controls, examples are introduced where countries actually apply capital controls and how these controls have been associated with a lesser exposure to international financial crises spillovers.
Capital controls - Investigating International Finance, Episode 2
In the interview, Robert Skidelsky discusses the emergence of political influence of a certain school of economic thought and how the success of an economic theory depends on the power relations in the society. He introduces the historical example of Keynesian economics and its replacement by liberal economic theory and policy in the aftermath of the Great Depression, and transfers this historical case to the dominant paradigm of austerity policies in the Europe as response to rising public debts caused by the Financial Crisis. He contrasts austerity policies with a Keynesian approach. Furthermore, he relates the targets of policy to the underlying power structures, for example when not the reduction of unemployment but the protection of financial capital is politically addressed.
Economics and Political Power during the Crisis
Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
A Time for Precaution
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
A historical glimpse of how economists of the 19th century debated the usefulness of mathematics to economics
Mathematical Economics in the 19th Century
Introduction Economics is by necessity a multi paradigmatic science Several theoretical structures exist side by side and each theory can never be more than a partial theory Rothschild 1999 Likening scientific work to the self coordinating invisible hand of the market Michael Polanyi cautioned strongly against centralized attempts to steer …
Making Many Maps: Why We Need an Interested Pluralism in Economics and How to Get There
In this keynote lecture during the conference „The Spectre of Stagnation? Europe in the World Economy“, Till van Treek presents research on how changes in income distribution lead to macroeconomic instability and crisis, focusing on currents accounts. Treek presents the relative income hypothesis in contrast to other mainstream and Post-Keynesian explanations. The relative income hypothesis proposes that aggregate demand increases and savings decrease with rising personal income inequality due to upward looking status comparison – but effects depend on the quantile where income inequality increases. Treek points to the importance of accounting for both income and functional income distribution and underlines his arguments with data comparing different pattern in Germany and the U.S.
Macroeconomics of inequality & instability - Inequality, imbalances and the crisis
In this lecture Mirowski claims that a good critique of and alternative to neoclassical economics should focus on microeconomics. In addition, he claims that mainstream economics is not about a specific "human nature", instead the understanding of markets (partially based on Hayek) is of special importance. As an alternative Mirowski proposes institutionalist economics that builds upon how markets work nowadays (e.g. links to computer science).
Should Economists be Experts in Markets or in Human Nature?
Hartmut Kliemt first traces the concept of the homo oeconomicus back to the philosophy of Spinoza and Hobbes. Then he addresses criticisms of this concept in particular by discussing the ultimatum game as a strong piece of counterevidence. After this, he outlines a difference in the behavioural sciences between internal perspectives that seek to understand actors' cognitive processes and external perspectives, which look at observed behaviour only.
Verhaltensökonomik
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