1115 Ergebnisse
Pluralism includes mainstream economics. Our campaign for pluralism, including this series, have generally focused on ideas outside the mainstream on the basis that it gets plenty of attention already so we want to spend our time exposing people to alternatives. Nevertheless, mainstream ideas deserve some attention. On top of this, a curious feature of modern economics education is that some of the best ideas from mainstream economics are not even taught to undergraduates! During this series I will explore such ideas, starting today with the market construction technique known as ‘matching’.
It's a match!
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
More Heat Than Light is a history of how physics has drawn some inspiration from economics and also how economics has sought to emulate physics, especially with regard to the theory of value. It traces the development of the energy concept in Western physics and its subsequent effect upon the invention and promulgation of neoclassical economics.
More Heat Than Light
The first day of the workshop is intended to initiate students to the foundational concepts of ecological economics. Ecological economics is an ecological critique of economics, applying the energetics of life to the study of the economy. It also investigates the social distribution of environmental costs and benefits. It does so by deconstructing concepts that are taken for granted like “nature” or “the economy”, excavating their ideological origins.
Political ecology, degrowth, and the Green New Deal
Winner of the Nobel Prize in Economics
Get ready to change the way you think about economics.
Get ready to change the way you think about economics.
Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans--predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth--and change the way we think about economics, ourselves, and our world.
Misbehaving
This collection of essays, a supplement to History of Political Economy, brings together prominent scholars from economics, sociology, literature, and history to examine the role of biography and autobiography in the history of economics. The first of its kind, this volume looks at the relevance of first-person accounts to narrative histories of economics.
Economists' Lives
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?
The first keynote speech was given by Sebastian Dullien, current spokesperson of FMM and who is one of the most well-known German economists in applied European economics and a very active contributor to the pluralist debate. Sebastian discusses the strategy of “running with the pack” by using orthodox methods to disseminate pluralist economics and politics. Referring to diverse examples Sebastian addresses the pros and cons of “running with the pack” and proposes alternative approaches to achieve more pluralism in economics.
How to promote alternative macroeconomic ideas: Are there limits to running with the (mainstream) pack?
The MINE website explores the interplay between nature and economy. Focusing on such fundamental concepts as time, thermodynamics, evolution, homo politicus and justice, a new outline of economic activity emerges within nature. The dominant approach of Mainstream Economics, which considers nature as a subsystem of the economy, is thus replaced by a broader and more integrated framework. The visual map and its links between concepts provides an orientation. The visitor can approach the content from their own starting point and follow their own path to discovery. Each concept starts with the historical background and moves on through theory and practice.
The research behind MINE began in the 1970s at the University of Heidelberg, Germany, in an interdisciplinary group spearheaded by Professor Malte Faber, including scientists from economics to mathematics, physics and philosophy. The research has contributed to the field of Ecological Economics.
MINE is directed at students, scientists and decion-makers. More on http://nature-economy.de/faq/
MINE - Mapping the interplay between Nature and Economy
For many, Thomas Carlyle's put-down of economics as "the dismal science" rings true--especially in the aftermath of the crash of 2008. But Diane Coyle argues that economics today is more soulful than dismal, a more practical and human science than ever before. The Soulful Science describes the remarkable creative renaissance in economics, how economic thinking is being applied to the paradoxes of everyday life.
The Soulful Science
The module is designed to first present some of the main schools of thought from a historical and methodological perspective. Each week we explore and critically assess the main tenants of each school of thought. In the second part of the module we link history of economic thought and methodology to a specific and contemporary economic question. The second part allows you to engage with current economic issues with an awareness of methodology and methodological differences and with some knowledge of the history of economics.
History of Economic Thought
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.
Reproductive Labour and Care
Understanding international trade is central to economics and is currently a hot political issue. It’s an area where popular perceptions of mainstream economics are low, since they have historically missed some important downsides of trade agreements, especially the hollowing out of former manufacturing hubs in the Western world. et economists have for long time had a theory of trade with an impressive amount of scientific clout behind it: the gravity trade model.
A Theory of Enormous Gravity
This chapter by the Centre of Economy Studies provides a map through the complex jungle of economic theories. It provides key insights and ideas for thirteen core topics in economics, organised by selecting the most relevant theoretical approaches per topic and contrasting them with each other.
Pragmatic Pluralism
This lecture is based on the “Introducing the Economy” chapter from the Economy Studies book, which introduces the first building block in their framework for transforming the economics education. The aim is to give students a feel and
understanding of the economy as part of a bigger whole. Thus, it is aimed to introduce to students before getting into the economics curriculum with theory and models.
Introducing the Economy
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
This innovative book offers targeted strategies for effectively and efficiently teaching economics at both undergraduate and postgraduate levels. It provides professors and other teachers of economics various techniques to engage and retain the interest of students, and challenges them to apply both knowledge and methodological tools to a range of economic problems.
New Developments in Economic Education
In both economics textbooks and public perceptions central banks are a fact of life. On the wall of my A-level economics classroom there was the Will Rogers quote “there have been three great inventions since the beginning of time: fire, the wheel, and central banking”, summarising how many economists view the institution. There is a widespread belief that there is something different about money which calls for a central authority to manage its operation, a view shared even by staunch free marketeers such as Milton Friedman. This belief is not without justification, since money underpins every transaction in a way that apples do not, but we should always be careful not to take existing institutions for granted and central banking is no exception. In this post I will look at the idea of private or free banking, where banks compete (and cooperate) to issue their own currency.
Whither Central Banks?
"A serious reconsideration of the 'economics of science' is long overdue," say Philip Mirowski and Esther-Mirjam Sent in the introduction to Science Bought and Sold. Indeed, it is only recently that one could speak of a field of economics of science at all.
Science Bought and Sold
This paper is a product of an online workshop held in Nigeria on the topic Unemployment: Policy Review and Recommendations. It explores the various unemployment policies introduced by the Nigerian Government and analysis how effective they are and suggests some practicable solutions to solving unemployment problems in the country.
The workshop was organized by Rethinking Economics The Uploaders (RETU) as part of the project Solving the Major Economic Problem in Nigeria (SMEPN), an output of the Global Pluralist Economics Training (GPET).
More details here: https://www.retheuploaders.org/programs/SMEPN
Unemployment in Nigeria: Policy Review and Recommendations
In this talk, Virgil Henry Storr, a Research Associate Professor of Economics in the Department of Economics at George Mason University, talks about his research into to post-disaster recovery and the role that social entrepreneurship plays in rebuilding the communities and social networks that get disrupted, or entirely eliminated.
Community revival in the wake of disaster: Lessons in local entrepreneurship
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
In spite of the manifold critique about the state of economics in the aftermath of the financial crisis, an even increasing presence of economists and economic experts can be observed in the public sphere during the last years. On the one hand this reflects the still dominant position of economics in the social sciences as well as the sometimes ignorant attitude of economists towards findings of other social sciences. On the other hand this paper shows that the public debate on politico-economic issues among economists is dominated by a specific subgroup of economists, tightly connected to an institutional network of “German neoliberalism”. This group of “public economists” (i) is dominant in public debates even after the financial crisis, (ii) reproduces the formative German economic imaginary of the Social Market Economy in a German neoliberal interpretation and (iii) has a good access to German economic policymaking, rooted in a long history of economic policy advice.
Still the queens of social sciences? (Post-)Crisis power balances of “public economists” in Germany
Want to learn more about behavioural economics and its application to public policy? Take this free course from the Behavioural Economics Team of the Australian Government.
Behavioural insights for public policy
Gender, Development, and Globalization is the leading primer on global feminist economics and development. Lourdes Benería, a pioneer in the field of feminist economics, is joined in this second edition by Gunseli Berik and Maria Floro to update the text to reflect the major theoretical, empirical, and methodological contributions and global developments in the last decade.
Gender, Development, and Globalization
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
The book provides an excellent comparative perspective on New Keynesian "New Consensus" economics and Post-Keynesian Economics at a beginner level. It also offers an interactive tool to understand how the economic models work, especially from a heterodox / pluralist perspective.
Introduction to Macroeconomics: Pluralist and Interactive
"Leveraged" provides an authoritative guide to the new economics of our crisis-filled century with a focus on financial crises and financial economics.
Leveraged
UBC's Henry Siu, a professor at the Vancouver School of Economics, speaks about innovation in economics, technological progress and what it means for the fut...
Understanding technological change
In this short talk 'Measuring the Danger of Segregation' Trevon Logan, Professor of Economics at The Ohio State University, explores the impacts of structural racism on economics and health.
Measuring the Danger of Segregation
Steven G. Medema is a Research Professor at Duke University. His research focuses on the History of Economic Thought, having published extensively on the issue of social costs of production (conceptualized as externalities in neoclassical economics). In this recorded seminar, he exposes his working paper on the history of the concept of externalities in economic literature, starting from Pigou’s “The Economics of Welfare” (1920), where Pigou makes the case for governmental intervention in the market where there is a divergence between private and social costs or benefits of a productive activity. T
'Exceptional and Unimportant'? The Rise, Fall, and Rebirth of Externalities in Economic Analysis
Colanders Microeconomics 11e is specifically designed to help today’s students succeed in the principles of economics course and grasp economics concepts they can apply in their daily lives
Microeconomics
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