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Paul Mason presents the main arguments of his book PostCapitalism. First, he argues that capitalism runs out of its capability to adapt to crises and second states that information technology challenges the capitalist system. In a nutshell, he argues that a society which fully exploits information technologies can't include concepts such as intellectual property, free market or private ownership. This has far-reaching consequences for the organisation of wages and work. The talk stops at minute 37.30.
Ha Joon Chang exposes the main ideas of his book Bad Samaritans, namely that historically states have developed and industrialized by making policy interventions related to industry protection, tariffs and subsidies and not by opening their markets to free trade. Chang elaborates on the examples of Japan, the US, Singapore and Germany amongst others to show that an interventionist path to development has been the regularity and not an anomaly. In the end of the lecture, he argues that they idea of a level playing field should be replaced by a trade order that accounts for differences in power and economic capacities of different countries. The last 20 minutes are questions and answers.
Eine kritische Bestandsaufnahme des Standartlehrbuches „Grundzüge der Mikroökonomie“
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.
This video animates part of the talk “On Economics” by Ha-Joon Chang in which he states that economics is not a science for experts but for everyone. Chang further argues why it is important to take into account different perspectives on economics – he identifies at least nine school of thoughts which all have their strengths and weaknesses and presents examples on free trade and well-being. Chang further elaborates on the difficulties of changing the economic status quo.
This text provides an overview of feminist perspectives on various kinds of work and reproductive labour. The authors start at the intersection of Marxism and Feminism. They, then, give a historical background on the United States feminist movement. They, finally, provide alternative perspectives on work and reproductive labor that are not based on Marxist Feminist theory.
Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
Economists claim they are not biased or ideological, but research by economist Mohsen Javdani tells another story. Javdani discovered that 82% of economists claim that statements and arguments should be evaluated on the content only, but the results of the study show the exact opposite.
A detailed introduction into dependency theory that rethinks its relevance to modern development challenges.
The podcast discusses how to deal with the rising inflation and presents a comparative perspective between the US and the EMU. Basically the speakers discuss whether we are heading to a stagflation in Europe similar to the 1970s and they compare the macroeconomic dynamics in the United States vs. the EMU.
Trade disputes are usually understood as conflicts between countries with competing national interests, but as Matthew C. Klein and Michael Pettis show in this book, they are often the unexpected result of domestic political choices to serve the interests of the rich at the expense of workers and ordinary retirees.
The most successful multialternative theories of decision making assume that people consider individual aspects of a choice and proceed via a process of elimination. Amos Tversky was one of the pioneers of this field, but modern decision theorists – most notably Neil Stewart – have moved things forward. At the current stage the theories are able to explain a number of strictly ‘irrational’ but reasonable quirks of human decision making, including various heuristics and biases. Not only this, but eye movements of participants strongly imply that the decision-making process depicted in the theories is an accurate one.
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.
Oft werden Universitäten mit neutraler Wissenschaft verbunden und das von Dozierenden vermittelte Wissen als Abbildung der Realität wahrgenommen. Nur selten ist es Gegenstand kritischer Auseinandersetzungen. Wissenschaft findet jedoch in keinem neutralen Raum statt, sondern ist von Machtstrukturen und somit auch oft von diskriminierenden Denkweisen geprägt. Genau hier setzt unser Projekt an, mit dem wir einen Beitrag zur kritischen, interdisziplinären Auseinandersetzung mit Rassifizierung und Diskriminierung an der Universität Bayreuth und darüber hinaus leisten wollen. Unser Interesse am Thema Rassifizierung im Kontext universitärer Lehre und Forschung entstammt dabei der kritischen Auseinandersetzung mit den Lehrinhalten der Vorlesung „Ökonomik der Entwicklungsländer“ von Prof. Dr. Martin Leschke sowie mit dem begleitenden Lehrbuch „Ökonomik der Entwicklung – Eine Einführung aus institutionenökonomischer Sicht“. Als uns Themen und Begriffe auffielen, die unserer Einschätzung nach in ihrer Verwendung nicht dem aktuellen Umgang mit postkolonialen Machtverhältnissen und Eurozentrismus entsprachen, kam uns die Idee, eine kritische Begleitschrift zu besagtem Lehrbuch zu verfassen.
Post-Keynesian and heterodox economics challenge the mainstream economics theories that dominate the teaching at universities and government economic policies. And it was these latter theories that helped to cause the great depression the United States and the rest of the world is in.
In a challenge to conventional views on modern monetary and fiscal policy, this book presents a coherent analysis of how money is created, how it functions in global exchange rate regimes, and how the mystification of the nature of money has constrained governments, and prevented states from acting in the public interest.
Developmental economics
This short video examining the concepts of rents and rent-seeking, and the high cost of orthodox liberal anticorruption policies.
The author discusses the various dimensions of the recent hike in inflation in the context of the United States and policy dilemmas around high inflation GDP decline and unemployment Servaas Storm Institute for New Economic Thinking
Viele Länder Europas leiden seit Jahren unter den Folgen der Euro-Krise. Doch was dagegen zu tun ist, darüber sind sich Politiker und Ökonomen uneins. Hier geben sechs Expertinnen und Experten sechs unterschiedliche Antworten auf sechs zentrale Fragen zur Zukunft des Euro.
Prof. Robert Guttmann looks at the current transformation of the international world order through the lenses of global money and finance.
Quinn Slobodian a historian of modern Germany and international history analysis of current development in the Mont Pèlerin Society and therefore neo-liberalism. He sees neo-liberalist thinkers less as believers in the self-healing power of markets, but more as ordo-liberal Globalists who wanted to protect the markets from post-war politics and especially mass democracy. Their goal of global capitalism is still strong, however sceptics in the Mont Pèlerin Society are rising, which see international migration as a threat to Globalisation. Therefore, turning neo-liberal policies away from international institutions like the EU back towards the national states as new defenders of the markets as well as international trade and investments.
(A development which can be seen in the Friedrich A. von Hayek-Gesellschaft and especially in the "liberal" wing of the German rightwing populist party AfD)
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.
Economists like to base their theories on individual decision making. Individuals, the idea goes, have their own interests and preferences, and if we don’t include these in our theory we can’t be sure how people will react to changes in their economic circumstances and policy. While there may be social influences, in an important sense the buck stops with individuals. Understanding how individuals process information to come to decisions about their health, wealth and happiness is crucial. You can count me as someone who thinks that on the whole, this is quite a sensible view.
The effects of the 2020 pandemic on the Latin-American region: a thorough before-after analysis.
In this short podcast, Naomi Fowler, the Tax Justice Network's creative strategist, discusses how the laws made by those who profited from slavery and the empire and, the extractive business models of the major financial sector continue to impoverish some of the poorest nations.
A remarkable and insightful tribute into the works of late Malawian development economist, Professor Thandika Mkandawire. Must read for anyone looking to broaden their scope of understanding development as it relates to the African continent.
Industrial policy has been a central part of policy prescription by many heterodox schools arguably since mercantilism, but the theories behind it and types of policy advocated for have evolved over time. Recently some neoclassical economists have shown renewed interest in it, but is this mainstream acceptance a step back or a step forward from earlier heterodox ideas?
In this webinar for the Princeton Bendheim Center for Finance, Nobel Prize winner William Nordhaus explains the main problems regarding the economics of a low-carbon energy transition.
The Trialogue is a podcast about combining historic ideas of the high-culture of the Inca and modern problems. The three authors each put their own perspectives of the topic and show insights into their actual view of economics.
The workshop introduces into the field of critical political economy and tries to identify the role of finacial markets in capitalism, the reason for financial crises and the relevance of Marx in regard to these topics.
The Nobel laureate Amartya Sen´s text analyzes three main figures in social sciences and the relation between them: the Italian economist Piero Sraffa, the Austrian philosopher Ludwig Wittgenstein, and the Italian politician and philosopher Antonio Gramsci.
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