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Caring activities are one central element of feminist economists' analysis – also since in particular unremunerated work is a blind spot in mainstream economics and most other economic paradigms. Those focus on the market sphere: activities are considered as productive and as real labour if they are remunerated and market-intermediated. Goods and services are considered as labour if they create a value which can be traded on the market. Feminist Economics remarks that this perspective creates certain dichotomies and consequent devaluations: unproductive – productive; private – public; unpaid – remunerated OR paid less – well paid; female – male; soft work – hard work; caring – rationality.
This essay draws on several analyses on the gender impact of the recession and of austerity policies, in which authors acknowledge a threat to women’s labour market integration and a potential backlash to traditional gender labour structures. We contribute to that literature by asking whether recession and austerity convey a gender effect on educational attainment. Our aim in this essay is to portray the likely effects of austerity measures on gender equality with a focus on women’s participation in tertiary education and to hypothesize the implications of these scenarios for labour market effects, to be tested in future empirical research.
The text presents a short perspective of International Political Economy, which "have often sought to complement discussions of governance with a healthy dose of critique", on resistance against e.g. economic inequality or economic and political power.
Multimedia dossier on unpaid labor (featuring the UK statistics office unpaid work calculator), migrant care labor and feminist political economy more generally.
Eine kritische Bestandsaufnahme des Lehrbuchs "Makroökonomie" von Oliver Blanchard und Gerhard Illing.
What are the implications of the politics of "behavioural change"? Alexander Feldmann took a closer look for you on nudging and framing and if this is a legitimate instrument being used by the state to make us behave better in terms of our carbon footprint.
Eine Erklärung für das Auseinanderdriften zwischen Wortführern und Basis könnte immerhin darin liegen, dass es tatsächlich einen erhöhten Bedarf an neuen Antworten gibt – der an der Basis auch schon zu einer Art Aufbruch geführt hat, wie er in anderen Ländern zu beobachten ist. Nur dass dies in Deutschland nur sehr bedingt Ausdruck findet in den öffentlichen Debatten, in denen nach wie vor Institutionen und Vertreter des Fachs dominieren, die das Denken in den vergangenen Jahrzehnten des angebotsorientierten Paradigmas geprägt haben – ob im Sachverständigenrat, den Instituten oder der Bundesbank. Was wiederum erklären würde, warum trotz zunehmender Offenheit und Vielfalt der Eindruck im In- und Ausland fortbesteht, die deutsche Ökonomie sei anders als alle anderen auf der Welt.
Wolfram Elsner stellt in dieser Vorlesung die Charakteristika und grundlegende Konzepte der evolutionären institutionelle Ökonomik dar und kontrastiert dieser immer wieder mit denen der Neoklassik (u.a. im Bezug auf Märkte oder offene Systeme). Hierbei präsentiert er insbesondere die Beiträge Thorstein Veblens. Elsner skizziert evolutionäre Prozesse und stellt die Frage, welche Rolle Institutionen hierbei zukommt. Diese Ausführungen schmückt er mit zahlreichen Anekdoten.
Das Ziel des Green New Deal ist es, eine „soziale und ökologische Transformation unserer Wirtschaft“ anzustoßen (Giegold und Mack 2012, S. 40). Doch inwieweit werden bei der sozialen Transformation auch feministische Anliegen mitgedacht?
Hannes Vetter hat sich in Rahmen der Schreibwerkstatt "Varieties of Mainstream Economics?" mit der Evaluation der Bewertung von Umwelt in neoklassischen Makromodellen auseinandergesetzt.
Here we look at the effect of the 2008 Climate Change Act passed in Parliament in the United Kingdom as an effort to curb emissions in all sectors. The Act aside from setting goals to become a low-carbon economy sets up an independent committee on Climate Change to ensure the implementation of policies to comply with the ultimate goal of 80% reduction in total emissions in 2050. I make use of the Synthetic Control Method (SCM) to create a comparative case study in which the creation of a synthetic UK serves as a counterfactual where the treatment never occurred (Cunningham, 2018).
James Glattfelder publizierte eines der aufsehenerregenden Paper der letzten Jahre. Mit Hilfe der Methoden der Komplexitätsökonomik - namentlich der Netzwerkanalyse - legt er Machtstrukturen von Großkonzernen und Abhängigkeiten in der Finanzbranche offen. In diesem dreistündigen Workshop erklärt er das theoretische Fundament der Komplexitätstheorie, zeigt die Grenzen der klassischen Ökonomik auf und stellt eines seiner Paper vor. Die Folien zur Präsentation sind hier abrufbar: http://www.boeckler.de/pdf/v_2016_08_12_glattfelder_slides.pdf
John K. Galbraith tells the economic history of a couple of economies (mostly UK, US and to a lesser extent Germany) from the end of the first world war until the Bretton Woods conference. He also provides a biography of John M. Keynes and outlines some central ideas of Keynes such as the possibility of an underemployment equilibrium. Galbraith complements the historical remarks by the biographical experiences he made in economic management (and in engaging with Keynes) serving as deputy head of the Office for Price administration during the second world war.
„Textbook Economics" ist mittlerweile zu einer eigenen Problemkategorie avanciert. Gemeint sind damit die Lehren, die aus dem neoklassischen Standardmodell für die grundständige Bildung, Politikberatung und Öffentlichkeitskommunikation abgeleitet werden.
Die Ergebnisse der Befragung belegen, dass die Lehrenden von einer Hierarchisierung der in der ökonomischen Analyse auftauchenden Begriffe ausgehen; die hauptsächlich für relevant gehaltenen Begriffe offenbaren hierbei eine spezielle konzeptionelle Sichtweise (Identifikation eines „mainstream“). Laut den Befragten ist der Mainstream durch Konzepte und Methoden gekennzeichnet, die sich im Gedankengerüst der neoklassischen Denkschule bewegen. Als relevantestes Merkmal des Mainstreams beschreiben die Befragten das Akteurskonzept des Homo oeconomicus sowie die Kategorien Rationalität, Gleichgewicht, Maximierung und Effizienz.
Michael Kalecki famously remarked “I have found out what economics is; it is the science of confusing stocks with flows”. Stock-Flow Consistent (SFC) models were developed precisely to address this kind of confusion. The basic intuition of SFC models is that the economy is built up as a set of intersecting balance sheets, where transactions between entities are called flows and the value of the assets/liabilities they hold are called stocks. Wages are a flow; bank deposits are a stock, and confusing the two directly is a category error. In this edition of the pluralist showcase I will first describe the logic of SFC models – which is worth exploring in depth – before discussing empirical calibration and applications of the models. Warning that there is a little more maths in this post than usual (i.e. some), but you should be able to skip those parts and still easily get the picture.
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.
Happy International Women s Day This International Women s Day 2018 is an opportune moment to highlight prominent scholars of Feminist Economics As a subdiscipline of economics Feminist Economics analyzes the interrelationship between gender and the economy often critiquing inequities and injustices perpetuated by mainstream paradigms Work of this nature …
The article is a formal response to the debate between the economists Diane Coyle and Howard Reed, whose articles were published online by Prospect magazine in 2018. Then, it was taken by Rethinking Economics as representative for the vision of the global network which advocates for changing economics curricula. In fact, it clearly solves some issues within the debate around pluralism by explaining its common misunderstandings among academics and its true - often mislead - meaning.
What data is used in the economic models of the IPCC? How problematic is it, that tipping points are often ignored? A very interesting presentation by Steve Keen during the OECD Conference "Averting Systemic Collapse".
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.
How countries achieve long-term GDP growth is up there with the most important topics in economics. As Nobel Laureate Robert Lucas put it “the consequences for human welfare involved in questions like these are simply staggering: once one starts to think about them, it is hard to think about anything else.” Ricardo Hausmann et al take a refreshing approach to this question in their Atlas of Economic Complexity. They argue a country’s growth depends on the complexity of its economy: it must have a diverse economy which produces a wide variety of products, including ones that cannot be produced much elsewhere. The Atlas goes into detail on exactly what complexity means, how it fits the data, and what this implies for development. Below I will offer a summary of their arguments, including some cool data visualisations.
Mit allerhöchster Wahrscheinlichkeit neoklassische Ansätze, denn diese dominieren das Studium der VWL heutzutage an den meisten Universitäten. Jedoch ist der Begriff 'Neoklassik' mittlerweile selbst zu einem Streitthema geworden. Verteidiger des Mainstreams verstehen Neoklassik zumeist eng und beziehen sich auf die ideengeschichtliche Entwicklung der allgemeinen Gleichgewichtstheorie (Jevons, Arrow und Debreu) sowie das Wachstumsmodell von Solow.
Economic sociology is an entire subfield and one could write an series on it, so I’m going to stick to probably the most prominent economic sociologist and the founder of ‘new economic sociology’, Mark Granovetter.
Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
An essay of the writing workshop on Nigeria’s Readiness for and the Effect of the Fourth Industrial Revolution
If there’s one method economists have neglected the most, it’s qualitative research. Whereas economists favour mathematical models and statistics, qualitative research seeks to understand the world through intensive investigation of particular circumstances, which usually entails interviewing people directly about their experiences. While this may sound simple to quantitative types the style, purpose, context, and interpretation of an interview can vary widely. Because of this variety, I have written a longer post than usual on this topic rather than doing it a disservice. Having said that, examples of qualitative research in economics are sadly scant enough that it doesn’t warrant multiple posts. In this post I will introduce qualitative research in general with nods to several applications including the study of firm behaviour, race, Austrian economics, and health economics. More than usual I will utilise block quotes, which I feel is in the spirit of the topic.
In dieser vierteiligen Erklär-Artikelserie behandelt Sebastian Gerchert den Fiskalmultiplikator. Diese ökonomische Kennzahl wird seit langer Zeit kontrovers diskuttiert.
Can pluralism in economics be useful to tackle the fight against climate change? How can a diversity in methods and ideas allow for a better understanding of the issue of the climate crisis? What solutions do different schools of thought offer to overcome the most pressing challenge of the 21st Century? Our Rethinker Henrika Meyer will give you some answers and give you a glimpse of the solutions pluralism offers to tackle the fight against climate change.
Can pluralism in economics be useful to tackle the fight against climate change? How can diversity in methods and ideas allow for a better understanding of the issue of the climate crisis? What solutions do different schools of thought offer to overcome the most pressing challenge of the 21st Century?
Can pluralism in economics be useful to tackle the fight against climate change? How can diversity in methods and ideas allow for a better understanding of the issue of the climate crisis? What solutions do different schools of thought offer to overcome the most pressing challenge of the 21st Century? Our Rethinker Henrika Meyer will give you some answers and give you a glimpse of the solutions pluralism offers to tackle the fight against climate change.
From the two premises that (1) economies are complex systems and (2) the accumulation of knowledge about reality is desirable, I derive the conclusion that pluralism with regard to economic research programs is a more viable position to hold than monism. To substantiate this claim an epistemological framework of how scholars study their objects of inquiry and relate their models to reality is discussed. Furthermore, it is argued that given the current institutions of our scientific system, economics self-organizes towards a state of scientific unity. Since such a state is epistemologically inferior to a state of plurality, critical intervention is desirable.
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