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1205 results
The course will teach students to analyze the goals, implementation, and outcomes of economic policy.
Advanced Economic Policy
The course will teach students to analyze the goals, implementation, and outcomes of economic policy.
Advanced Economic Policy 2
This course provides future change makers in public and private sectors with a comprehensive overview on the structures and actors that shape markets.
The Governance of Markets in Challenging Times: From Classic Authors to New Approaches
This module examines current socio-political issues through the lens of pluralism, that is pluralism of theory, pluralism of method and interdisciplinary pluralism
Pluralist Economic Analysis
Exploring Economics, an open-access e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
The Political Economy of Inequalities
On July 2020 ZOE-Institute published a unique platform for transformative policymaking: Sustainable Prosperity. Building on insights from new economic thinking the platform provides knowledge about ideas, arguments and procedures that support effective promotion of political change. It aims to strengthen change makers in public policy institutions, who are working on an ambitious green and just transition. As such, it provides convincing arguments and policy ideas to overcome the reliance of economic policy on GDP growth
Sustainable Prosperity
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.
Systemic racism, reparations and tax justice
Hamilton argues that economics lacks the political economy context in order to understand racism, and demonstrates how racism is embedded in the political economy of America.
How America’s Economy Runs on Racism
Most mainstream neoclassical economists completely failed to anticipate the crisis which broke in 2007 and 2008. There is however a long tradition of economic analysis which emphasises how growth in a capitalist economy leads to an accumulation of tensions and results in periodic crises. This paper first reviews the work of Karl Marx who was one of the first writers to incorporate an analysis of periodic crisis in his analysis of capitalist accumulation. The paper then considers the approach of various subsequent Marxian writers, most of whom locate periodic cyclical crises within the framework of longer-term phases of capitalist development, the most recent of which is generally seen as having begun in the 1980s. The paper also looks at the analyses of Thorstein Veblen and Wesley Claire Mitchell, two US institutionalist economists who stressed the role of finance and its contribution to generating periodic crises, and the Italian Circuitist writers who stress the problematic challenge of ensuring that bank advances to productive enterprises can successfully be repaid.
Finance and Crisis: Marxian, Institutionalist and Circuitist approaches
Stratification economics is defined as a systemic and empirically grounded approach to addressing intergroup inequality. Stratification economics integrates economics, sociology and social psychology to distinctively analyze inequality across groups that are socially differentiated, be it by race, ethnicity, gender, caste, sexuality, religion or any other social differentiation.
Stratification Economics
Balance of payments stability is of paramount importance for developing countries, both to secure the value of their domestic currencies as well as reliable foreign currency inflows. But how is that stability ensured and how important is the growth of exports for stability?
Thirlwalls Law Introduction
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?
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.
Climate Economics
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?
Clips on Climate: Ecological Economics
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.
Clips on Climate: Complexity Economics
The outbreak of COVID-19 has substantially accelerated the digitalization of the economy. Yet, this unprecedented growth of digital technology brought novel challenges to the labour market. Rise in income inequalities and precarious working conditions or polarization of jobs. In this essay, we try to assess what tools to use to counter these trends.
Post-pandemic future of work - How does digitization impact labour?
What made the false assumption that saving the economy at all cost during a pandemic so popular? This paper discusses different pathways through the COVID-19 pandemic at national and international level, and their consequences on the health of citizens and their economies.
How not to save the economy? The interplay of economics and health during the COVID-19 pandemic
Developmental economics
The roots of dependency theory
In this lecture, Branko Milanovic gives an overview of the concept of inequality as conceptualized within the classical school of thought.
Income Inequality in Quesnay, Smith, Ricardo and Marx (Part 1: Quesnay, Smith)
Since the 1980s, the financial sector and its role have increased significantly. This development is often referred to as financialization. Authors working in the heterodox tradition have raised the question whether the changing role of finance manifests a new era in the history of capitalism. The present article first provides some general discussion on the term financialization and presents some stylized facts which highlight the rise of finance. Then, it proceeds by briefly reviewing the main arguments in the Marxian framework that proposedly lead to crisis. Next, two schools of thought in the Marxian tradition are reviewed which consider financialization as the latest stage of capitalism. They highlight the contradictions imposed by financialization that disrupt the growth process and also stress the fragilities imposed by the new growth regime. The two approaches introduced here are the Social Structure of Accumulation Theory and Monthly Review School. The subsequent part proceeds with the Post-Keynesian theory, first introducing potential destabilizing factors before discussing financialization and the finance-led growth regime. The last section provides a comparative summary. While the basic narrative in all approaches considered here is quite similar, major differences stem from the relationship between neoliberalism and financialization and, moreover, from the question of whether financialization can be considered cause or effect.
Financialization and the crises of capitalism
Recovery from the Covid-19 crisis provides a chance to implement economic measures that are also beneficial from environmental and social perspectives. While ‘green’ recovery packages are crucial to support economies tracking a low-carbon transition in the short-term, green measures such as carbon pricing are also key to improving welfare in the long-term. This commentary specifies the need for carbon pricing, outlines its implications for our everyday lives, and explains how it works alongside value-based change in the context of climate action and societal well-being.
Carbon Pricing: The Key to Open the Way Toward a Sustainable Recovery and Long-Term Wellbeing
After completing the module, participants should be able to have general overview on the theory of commons. They can differentiate between neoclassical, new institutional and social/critical commons theory and can use these theories to assess real life common-pool resource management and commoning pratices.
Future of Commons
This course is designed to provide students with an understanding of work-related gender issues and to enable students to analyze the issues using the tools of economics.
Women, Men, & Work
Tejashree Dewoolkar Sujatha Padmanabhan Ashik Krishnan Extraordinary work of ordinary people Vikalp sangam
Pandemic resilience in North East India
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
Podcast series with six 12-minute parts introducing the the values and ideas behind our neoliberal economic system: where it came from, how it spread, and how we could do things differently.
Beginner’s Guide to Neoliberalism
Professor Joseph Aldy from Harvard Kennedy School gives us some insights about how economics can set the balance between policymakers, scientists, employers and citizens.
Can Economics save the Environment?
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
Inflation in a Time of Corona and War
In this famous article Michal Kalecki describes the three main reasons that push business leaders to reject the intervention of the government to ensure full employment i dislike of government interference in the problem of employment as such ii dislike of the direction of government spending public investment and subsidizsing …
Political Aspects of Full Employment
This paper presents an overview of different models which explain financial crises, with the aim of understanding economic developments during and possibly after the Great Recession. In the first part approaches based on efficient markets and rational expectations hypotheses are analyzed, which however do not give any explanation for the occurrence of financial crises and thus cannot suggest any remedies for the present situation. A broad range of theoretical approaches analyzing financial crises from a medium term perspective is then discussed. Within this group we focused on the insights of Marx, Schumpeter, Wicksell, Hayek, Fisher, Keynes, Minsky, and Kindleberger. Subsequently the contributions of the Regulation School, the approach of Social Structures of Accumulation and Post-Keynesian approach, which focus on long-term developments and regime shifts in capitalist development, are presented. International approaches to finance and financial crises are integrated into the analyses. We address the issue of relevance of all these theories for the present crisis and draw some policy implications. The paper has the aim to find out to which extent the different approaches are able to explain the Great Recession, what visions they develop about future development of capitalism and to which extent these different approaches can be synthesized.
Theories of finance and financial crisis: Lessons for the Great Recession
Are there any limits to government spending? In times of war, particularly? And what about the aftermath of such special times when treasuries seemingly feel unshackled from any rules? And are those times really any special? That is what this paper is about.
Modern Money and the War Treasury
‘We cannot afford their peace & We cannot bear their wars’:
Value, Exploitation, Profitability Crises & ‘Rectification’
Political Economy based on Marx
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