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523 results
The world has seen the emergence of a rather different system of international lender of last resort organized as a network of central bank liquidity swap lines largely limited to the core countries of the Global North In this system central banks swap their own currency for dollars which they …
“Where’s My Swap Line?”: A Money View of International Lender of Last Resort
This report to the DEFRA summarizes the main approaches, opportunities and difficulties that come with individual carbon trading.
A Rough Guide To Individual Carbon Trading
This invaluable volume brings together seminal articles with a significant behavioural content on various areas in macroeconomics.
Behavioural Macroeconomics
What do modern academic economists do? What currently is mainstream economics? What is neoclassical economics? And how about heterodox economics? How do the central concerns of modern economists, whatever their associations or allegiances, relate to those traditionally taken up in the discipline?
Essays on the Nature and State of Modern Economics
More than a century after Hartley Withers's "The Meaning of Money" and 80 years after Keynes's "Treatise on Money", the fundamentals of how banks create money still needs explaining and this book meets that need with clear exposition and expert marshalling of the relevant facts.
Where Does Money Come From?
This book provides a new methodological approach to money and macroeconomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental issues of a modern monetary economy, the focus of this book lies on the (stylized) balance sheets of the main actors. Money, after all, is born on the balance sheets of the central bank or commercial bank.
Modern Monetary Theory and European Macroeconomics
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
This self-paced free course by Perry Merhling guides you to his "Money View" approach that integrates the fields of economics and finance. The course can easily be understood by people interested people without technical economic knowledge or training as it is primarily a tool for analysis.
Economics of Money and Banking
"The Company of Strangers: A Natural History of Economic Life" by Paul Seabright is an engaging and informative book that explores the complex relationship between economic behavior and human instincts. Seabright uses real-world examples to present complex ideas in a clear and accessible way. The author argues that the market is not only a place for exchanging goods and services but also relies on trust, cooperation, and social norms.
The Company of Strangers
An essay of the writing workshop on contemporary issues in the field of Nigerian economics: In Nigeria, it appears that there is nothing in the constitution, which excludes the participation of women in politics. Yet, when it comes to actual practice, there is extensive discrimination. The under-representation of women in political participation gained root due to the patriarchal practice inherent in our society, much of which were obvious from pre-colonial era till date.
Women Participation – Women Contribution to Economics and Politics
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
How do people make decisions? There is a class of models in psychology which seek to answer this question but have received scant attention in economics despite some clear empirical successes. In a previous post I discussed one of these, Decision by Sampling, and this post will look at another: the so-called Fast and Frugal heuristics pioneered by the German psychologist Gerd Gigerenzer. Here the individual seeks out sufficient information to make a reasonable decision. They are ‘fast’ because they do not require massive computational effort to make a decision so can be done in seconds, and they are ‘frugal’ because they use as little information as possible to make the decision effectively.
Bounded Rationality: the Case of ‘Fast and Frugal’ Heuristics
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.
The Complexity of Economies and Pluralism in Economics
Usually, Critical Theory and Economics are, for better or worse, no longer seen to be in a continuum. This article by Lukas Meisner serves as an introduction to Critical Theory for all (heterodox) economists, who want to understand and explain what they can, otherwise, just state and describe.
Critical Theory for Heterodox Economists: Questioning the Premises of Supply and Demand
Extractivism is a development model based on exploiting and exporting raw materials. It is fundamental to reproducing entire societies, mainly in the Global South, while generating manifold dilemmas. This text situates extractivism within the broader landscape of global economic asymmetries, emphasizing the role of rents—excess revenues generated from resource extraction due to international price differentials—as a central analytical lens.
The Political Economy of Extractivism
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 …
Happy International Women’s Day!
This note, by Theresa Neef, Panayiotis Nicolaides, Lucas Chancel, Thomas Piketty, and Gabriel Zucman, provides data on wealth inequality in Russia and advocates for a European Asset Registry.
Effective sanctions against oligarchs and the role of a European Asset Registry
In this revealing book, Katharina Pistor argues that the law selectively “codes” certain assets, endowing them with the capacity to protect and produce private wealth. With the right legal coding, any object, claim, or idea can be turned into capital—and lawyers are the keepers of the code.
The Code of Capital
Improving Decisions About Health Wealth and Happiness Now available Nudge The Final Edition The original edition of the multimillion copy New York Times bestseller by the winner of the Nobel Prize in Economics Richard H Thaler and Cass R Sunstein a revelatory look at how we make decisions for fans …
Nudge
In this prescient book, expert contributors from academic and policymaking circles explore dollarization in both theoretical and practical terms.
Central Banking, Monetary Policy and the Political Economy of Dollarization
This book is about history of monetary economic thought. From the 18th century with Hume and Smith to the early 20th, the author explains the different schools of thought regarding the monetary theories and policies and specially the central banking theory.
Monetary Theory and Policy from Hume and Smith to Wicksell
Representing everyone An Analysis of the Representation of Migrant Women by official Labour Organizations in Germany Author Tess Herrmann Review Deborah Sielert This is an essay of the writing workshop Gender and the Economy Perspektives of Feminist Economics published on 17 May 2017 updated on 16 August 2017 Why we …
Representing everyone – Migrant Women's Representation by Labour Organizations in Germany
This video provides a brief introduction to post-keynesian economics and how the school of thought would tackle climate change.
Clips on Climate: Postkeynesian Economics
Principles of Macroeconomics by Howard J. Sherman and Michael A. Meeropol differs from other texts in that this book stresses far more the inherent instability of the macro-economy.
Principles of Macroeconomics
By conducting a discourse analysis (SKAD) in the field of academic economics textbooks, this paper aims at reconstructing frames and identity options offered to undergraduate students relating to the questions ‘Why study economics?’ and ‘Who do I become by studying economics?’. The analysis showed three major frames and respective identity offerings, all of which are contextualized theoretically, with prominent reference to the Foucauldian reflection of the science of Political Economy. Surprisingly, none of them encourages the student to think critically, as could have been expected in a pedagogical context. Taken together, economics textbooks appear as a “total structure of actions brought to bear upon possible action” (Foucault), therefore, as a genuine example of Foucauldian power structures.
The power of economic textbooks: A discourse analysis
The premise of this workshop is that we, as knowledge producers - especially within westernized universities (Grosfoguel, 2013), are significantly implicated in neoliberal imaginaries that are often in service of hierarchical, binary, competitive and linear narratives of growth as civilizational progress.
Decolonizing Economics
"Change the system, not the climate" is a common demand in the climate movement. But what kind of system do we want?
Outgrow the System
Finance. Climate. Food. Work. How are the crises of the twenty-first century connected?In "Capitalism in the Web of Life", Jason W. Moore argues that the sources of today's global turbulence have a common cause: capitalism as a way of organizing nature, including human nature.
Capitalism in the Web of Life
As part of the 2019/2020 Exploring Economics Experience, one of our supporters Prof. Steve Keen gave a presentation to our editorial team. Read more
The foundations of monetary macroeconomics - Steve Keen | Exploring Economics Global Lecture
To prevent the coronavirus shock to demand precipitating a long-lasting depression, government needs to become short-term payer of last resort.
Introducing the Payer of Last Resort
In this podcast, Professor Darrick Hamilton critically discusses how current neoliberal economic models uphold a systemically racially unjust structure of economies.
EQUALS: Racism, Rebellions and the Economy
Richard Werner touches on a number of topics in this Odd Lots Podcast episode. As one of the pioneers when it comes to money and credit creation, he gives interesting insights into his early research on this topic. He then explains what he calls the “Quantity Theory of Credit” and is an alternative to the "Quantity Theory of Money".
Japanification, Quantitative Easing, money creation and Re-Igniting the U.S. Economy
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