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1048 results
What is money and how is it used? After answering these questions, Dirk Bezemer analyses how finance can be dysfunctional for the real economy.
When is Finance Bloated and Dysfunctional?
Multimedia dossier on unpaid labor (featuring the UK statistics office unpaid work calculator), migrant care labor and feminist political economy more generally.
Housework – I-PEEL.org
Trickle Down Economics - an old topic, but still present in our lives. The idea consists of deregulation of the economy and of lower tax for the top in order to increase the "size of the pie" so everybody would have a bigger piece, even with a smaller share.
A critique to Trickle-down economics
Could working less make people and the planet better off? Find out in this dossier by exploring the landscape of working time reduction policies and their potential for reimagining, restructuring, and redistributing time as a political resource in the 21st century economy.
Could Working Time Reduction Policies Save People and the Planet?
This brilliantly concise book is a classic introduction to Marx’s key work, Capital. In print now for over a quarter of a century, and previously translated into many languages, the new edition has been fully revised and updated, making it an ideal modern introduction to one of the most important texts in political economy.
'Marx's Capital'
Dani Rodrik, Professor of International Political Economy at Harvard's Kennedy School of Government, is teaching in this online session about the global rules under which the modern (free trade-focused) type of globalization operates and why, under such institutions, international community fails to deal with the climate change and pandemics.
Pandemics, Climate Change, and Global Economics: Where Did We Go Wrong in Globalization?
The economist Thomas Piketty presents a central argument of his book Capital in the Twenty-First century: if the rate of return to capital generally exceeds an economy's growth rate, this leads to a higher concentration of wealth in the long run. He furthermore shows with historical data how wealth and income inequality increased within the past decades.
New thoughts on capital in the twenty-first century
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
The dossier first discusses the impact of colonialism on introducing foreign plants and thus disrupting ecosystems. Subsequently the case of the knotweed, a plant introduced from Japan to the UK and now considered a threat to biodiversity is explored. The complex economy built around the plant consisting of regulations, pesticides, experts, and landowners is then explored.
Knotweed – I-PEEL.org
The dossier explores the nature of care work and the gendered constructions and dichotomies that are associated with it. Drawing from feminist analysis the double burden, the undervaluation of feminised labour, the commodification of affective labour and the remittance economy are inquired into. Moreover, it is discussed how welfare regimes rely on the different organization of care work.
Care – I-PEEL.org
This Blog Post describes the U.S. federal reserve money system from the perspective of the Modern Monetary Theory (MMT). Therefore it presents a theory of money creation, gives simple examples how this influences the economy and the historical process of why the monetary system of the US has developed this way.
An Introduction in the Federal Reserve Money system
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 British historian, Adam Tooze, highlights how the climate crisis is not just an environmental or ecological problem but also a political economy challenge.
Climate, carbon and class
Beyond Growth is a collection of educational materials offering a reflection on growth. It was created as a joint project of the associations Fairbindung e. V. and Konzeptwerk Neue Ökonomie, both based in Germany. The page provides learning materials and methods to stimulate thinking about the conditions of our current economy as well as possible alternatives.
Beyond Growth - Educational Materials for a Socio-ecological Transformation
"Yuliya Yurchenko is a senior lecturer and researcher in political economy at University of Greenwich. She is currently in Ukraine on an extraordinary leave. And while she writes that she is, for the moment, in relative safety, that could change any moment. Being a Ukrainian, an activist and an academic, Yuliya traveled to Ukraine on Feb 19, 2022 as part of a fact-finding and solidarity mission with a number of MPs, trade unionists and journalists. The goal, she says, of this mission is to connect with civil society organizations, trade unions, activists and politicians, and “to express direct, cross-border solidarity from the UK working class to the Ukrainian working class.”
Yuliya Yurchenko expands the frame for understanding the Russian invasion of Ukraine
Macroeconomics 101 by the Pan African Feminist Political Economy Collective NAWI explains in an accessible way, why macroeconomics matters in our daily lives.
Macroeconomics 101
Aaron Benanav argues that despite the hype, generative AI is unlikely to spark a revolutionary transformation of the economy.
Is the AI Bubble About to Burst?
Understanding the American stock market boom and bust of the 1920s is vital for formulating policies to combat the potentially deleterious effects of busts on the economy.
The Great Crash of 1929
Financialization is one of the most innovative concepts to emerge in the field of political economy during the last three decades, although there is no agreement on what exactly it is. Profiting Without Producing by Costas Lapavitsas puts forth a distinctive view defining financialization in terms of the fundamental conduct of non-financial enterprises, banks and households.
Profiting Without Producing
David Graeber introduces different concepts such as money and debt. He takes a historical and anthropological way of explaining the origin. This breaks with the mainstream explanation, which is used in many Economics textbooks, saying that a barter economy was before money arose.
Debt
What does political economy say about the global sugar production? Take a look at global trade regulations, intercountry inequalities, and the role of marketing.
Global sugar production - regulations, intercountry inequalities, and marketing
Feminist economics is a key component of the movement for pluralism in economics and one that has, to some extent, been acknowledged by the mainstream of the profession. It seeks to highlight issues which affect women because (it claims) they have not traditionally been recognised in a field dominated by men. On top of this, it seeks to carve out a space for women in the discipline, both for intrinsic reasons of fairness and diversity and because it means that women’s issues are more likely to be highlighted going forward.
Why Feminist Economics is Necessary
This course is an introduction to Development Economics and is concerned with how economists have sought to explain how the process of economic growth occurs, and how – or whether – that delivers improved well-being of people.
Development Economics
In parallel to rising inflation numbers, the concept of profit inflation has clearly risen to prominence in recent years. But what is it exactly? This dossier aims not only to collect the most important publications on profit inflation but also intends to map out the development of the discourse and the different positions within the debate.
Profit Inflation: Mapping the debate
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
Steve Keen analyses how mainstream economics fails when confronted with the covid-19-pandemic. Mainstream economics has propagated the dismantling of the state and the globalization of production - both of which make the crisis now so devastating. More fundamentally, mainstream economics deals with market systems, when what is needed to limit the virus’s spread is a command system.
The Coronavirus and the End of Economics
The general idea of a Job Guarantee (JG) is that the government offers employment to everybody ready, willing and able to work for a living wage in the last instance as an Employer of Last Resort. The concept tackles societal needs that are not satisfied by market forces and the systemic characteristic of unemployment in capitalist societies. Being a central part of the Modern Monetary Theory (MMT), attention for the JG concept rose in recent years.
The Job Guarantee
A central question in development economics literature is, “Why do countries stay poor?” The key disagreements are whether the lack of economic growth stems from institutions or from geography (Nunn 2009). From an institutional perspective, hostile tariff regimes and commodity price dependencies form a barrier to a sectoral shift that would otherwise lead to economic development in developing countries (Blink and Dorton 2011) (Stiglitz 2006).[i]
Trade Barriers to Development explored through various lenses
A review of:
[1] Intermediate Microeconomics, H.R. Varian
[2] Mikrooekonomie, R.S. Pindyck, D.L. Rubinfeld
[3] Grundzuege der mikrooekonomischen Theorie, J. Schumann, U. Meyer, W. Stroebele
The Dichotomy, Inconsistency, and Peculiar Outmodedness of the "Mainstream" Textbook
This lively introduction to heterodox economics provides a balanced critique of the standard introductory macroeconomic curriculum. In clear and accessible prose, it explains many of the key principles that underlie a variety of alternative theoretical perspectives (including institutionalist economics, radical economics, Post Keynesian economics, feminist economics, ecological economics, Marxist economics, social economics, and socioeconomics).
Reintroducing Macroeconomics
The 2022 FIFA World Cup (including the construction work required for it) provides a clear example of economic activity that has taken place despite the financial costs to the Qatari state being an order of magnitude larger than the financial benefits it will receive. Whilst this is a fairly extreme case in terms of how many different costs and benefits are involved and how unequally they have been spread, many economic decisions are more complicated than mere financial calculations and it is therefore vital for students to be able to think about multiple dimensions involved in economic decisions.
The Economics of a World Cup in Qatar
Economists occupy leading positions in many different sectors including central and private banks, multinational corporations, the state and the media, as well as serving as policy consultants on everything from health to the environment and security. Power and Influence of Economists explores the interconnected relationship between power, knowledge and influence which has led economics to be both a source and beneficiary of widespread power and influence.
Power and Influence of Economists
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