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In a span of around 12 weeks, the course covers a wide range of topics including agent-based modeling, networks, dynamic, chaos, information, fractals, cooperation models and scaling in biology and society. The course acts as a perfect beginner level introduction spanning a wide range of topics in the field of complexity.
Introduction to Complexity
Currency hierarchy and policy space: A research agenda for development economics Barbara Fritz
Currency hierarchy and policy space
The 2007-2008 financial crisis exposed the shortcomings of mainstream economic theory with economists unprepared to deal with it. In the face of this, a major rethinking of economics seems necessary and in presenting alternative approaches to economic theory, this book contributes to the rebuilding of the discipline.
Alternative Approaches to Economic Theory
In Scene on Radio Season 7, Capitalism, host and producer John Biewen and co-host Ellen McGirt outline the history of capitalism, from its emergence in Europe 500 years ago up to the present. And they explore alternatives, from reforms of capitalism as we know it to more radical transformations.
Scene on Radio - Capitalism
'This Cambridge professor delights in paradox. And myth-busting . . . he does this with charm and a desire to see how things work in the real world' Guardian, 'In Praise of Ha-Joon Chang' In this revelatory book, Ha-Joon Chang destroys the biggest myths of our times and shows us the truth about how the world really works, including- there's no such thing as a free market.
23 Things They Don't Tell You about Capitalism
This book is designed for a one-semester or two-semester course in international economics, primarily targeting non-economics majors and programs in business, international relations, public policy, and development studies. It has been written to make international economics accessible to wide student and professional audiences.
An Introduction to International Economics
Beyond Neoclassical Economics is a remarkable new introduction to the main heterodox schools of economic thought which examines their main concepts and their critiques of mainstream theory.
Beyond Neoclassical Economics
Economist and 2020 Balzan Prize winner for Environmental Challenges: Responses from the Social Sciences and Humanities, Joan Martínez Alier, speaks on the importance of ecological economics and its timeliness around the 2007/2008 global financial crisis. He speaks on the importance of building the field of ecological economics “from the ground up” through praxis.
Ecological Economics
How do we get our dinner? And who cooked Adam Smith's dinner? Starting with Smith's answer on the origin of a dinner, Katrine Marçal problematizes and illustrates how unpaid labour was and is still being ignored by economic theory and how the homo economics represents characteristics perceived as male.
How Economics Forgot about Women
What is innovation, what drives innovation and the process that differentiates firms? What is competition and what kind of dynamics lie behind the differences between firms and their innovative activities? Mariana Mazzucato elaborates on those questions from an evolutionary economics' and Schumpeterian perspective. The slides of her lecture are not visible, hence some visualizations can't be followed.
Economics of Innovation
Mark Blyth criticises the political inability to solve the persistent economic crisis in Europe against the background of a deflationary environment. Ideological blockades and impotent institutions are the mutually reinforcing causes of European stagnation. The deeper roots lie in the structural change of the economic system since the 1980s, when neoliberalism emerged as hegemonic ideology. This ideology prepared the ground for austerity and resulting deflationary pressures and a strategy of all seeking to export their way out of trouble. Worryingly this is breeding populist and nationalist resentments in Europe.
Policies to avert stagnation: The Crisis and the Future(s) of the Euro
This short video visualizes the destabilizing effects financial markets can have on food prices, based on a paper by Jayati Ghosh. It introduces and explains the idea of future contracts and how those are used to speculate with basic food stuffs. After establishing the concepts, the video sketches out how the increase in those practices resulted in a substantial rise and later collapse of food prices around 2008 with severe consequences for many developing countries and their people.
Food and Finance
A History of Capitalist Transformation: A Critique of Liberal-Capitalist Reforms highlights how, since the recent financial crises, the expression 'liberal reform' has entered common parlance as an evocative image of austerity and economic malaise, especially for the working classes and a segment of the middle class.
A History of Capitalist Transformation
Modern authors have identified a variety of striking economic patterns, most importantly those involving the distribution of incomes and profit rates. In recent times, the econophysics literature has demonstrated that bottom incomes follow an exponential distribution, top incomes follow a Pareto, profit rates display a tent-shaped distribution. This paper is concerned with the theory underlying various explanations of these phenomena. Traditional econophysics relies on energy-conserving “particle collision” models in which simulation is often used to derive a stationary distribution. Those in the Jaynesian tradition rely on entropy maximization, subject to certain constraints, to infer the final distribution. This paper argues that economic phenomena should be derived as results of explicit economic processes. For instance, the entry and exit process motivated by supply decisions of firms underlies the drift-diffusion form of wage, interest and profit rates arbitrage. These processes give rise to stationary distributions that turn out to be also entropy maximizing. In arbitrage approach, entropy maximization is a result. In the Jaynesian approaches, entropy maximization is the means.
The Econ in Econophysics
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
This edited volume put together by Jimi Adesina based on the proceedings of the Social Policy in African Conference in 2017 provides an overview of social policy in varied country contexts and fields especially in light of decades of the reduction in size and hollowing out of the content of …
Social Policy in the African Context
In this radio interview, Philip Mirowski, author of the book "Never Let a Serious Crisis Go to Waste" presents several differences between neoclassical economics and neoliberalism. Apart from a historical outline, Mirowski primarily discusses different perceptions of markets and the role of the state. Mirowski further reflects on the role think tanks ("part of the "neoliberal thought collective") and the entrepreneurial self (the "neoliberal agent") in the spreading and fostering of the neoliberalism.
How Neoliberalism Survived the Financial Meltdown
In this lecture, Konstantinos Katsikopoulos presents the concept of bounded rationality and contrasts two - as he calls it - cultures of research and analysis within Behavioral Economics: an "idealistic" and a "pragmatic" approach. Thereby, Katsikopoulos discusses amongst others their different assumptions on decision making (utility optimization vs. achievement of a satisfactory outcome), the psychological process as well as the epistemic aim and implications on policy recommendations (nudging vs. education).
Bounded Rationality: The Two Cultures
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
After a brief illustration of sovereign green bonds’ features, this paper describes the market evolution and identifies the main benefits and costs for sovereign issuers. The financial performance of these securities is then analysed.
Green Bonds: the Sovereign Issuers’ Perspective
The Elgar Companion to Neo-Schumpeterian Economics surveys the achievements of the most visible scholars in this area. The contributions to the Companion give both a brief survey on the various fields of neo-Schumpeterian economics as well as insights into recent research at the scientific frontiers.
Elgar Companion to Neo-Schumpeterian Economics
How does fiscal policy work and which dimensions have to be considered? In this short text, you can learn about the difficulty of juggling different dimensions and which optimal rules exist at the micro and macro level.
Why is fiscal policy so difficult?
How and by whom are International Labour Standards set? How are they supervised, and how can workers’ organisations use the ILO supervisory mechanisms? What are the key principles of Freedom of Association, the right to strike and Collective Bargaining?
International Labour Standards: How to Use Them
Happiness economics is a branch in behavioral economics, where it explores the economics factors and consequences of happy humans. What makes people happier, and what benefits do we get when people are happier? This dossier introduces you to the field of happiness economics, from a review of economic factors proposed to influence people’s happiness, to a discussion of the economic consequences of happiness, and concludes with economic policy implications of happiness economics.
Happiness Economics. Does the Easterlin paradox stand?
What is economics? What can - and can't - it explain about the world? Why does it matter?
Economics: The User's Guide
The current international financial system has created a huge gap between the wealthy and the rest. Grounded and straightforward in his approach, Brahm calls for a turn away from economic systems dangerously steeped in ideology and stymied by politics, outlining a new global consensus based on pragmatism, common sense, and grass-roots realities.
Fusion Economics
How Covid Shook the World s Economy Deftly weaving finance politics business and the global human experience into one tight narrative a tour de force account of 2020 the year that changed everything from the acclaimed author of Crashed The shocks of 2020 have been great and small disrupting the …
Shutdown
Photo by Alina Grubnyak on Unsplash Networks are ubiquitous in our modern society The World Wide Web that links us to and enables information flows with the rest of the world is the most visible example It is however only one of many networks within which we are situated Our …
Networks
This is a recording of an introductory course held at the 4th International Degrowth Conference for Ecological Sustainability and Social Equity in Leipzig in 2014. Federico Demaria from the French-Spanish organisation Research and Degrowth gives an introduction to degrowth. The presentation is based on the introduction to the book “Degrowth. A vocabulary for a new era.” and discusses definitions of degrowth, degrowth literature, debates, history and further research to be done.
Introductory Course: "Degrowth: What?!"
The page "Positive Money" gathers text and short videos which explain how money is created by banks by giving loans. It furthermore presents the consequences of this process on housing prices, inequality and the environment and its role in the financial crisis. The dossier is provided by the campaign "Positive Money" which aims at a democratic control over money creation. Besides texts by the campaign, the page makes available links to journal and conference articles on the topic. The page focuses on the banking system of the UK.
Positive Money
Eckhard Hein criticises the mainstream's view of secular stagnation as the result of a negative real equilibrium interest rate. Arguing in a Keynesian spirit with particular reference to Steindl, secular stagnation is considered to be a result of shift in the functional income distribution, and oligopolistic organisation of industries, leading to excess capacity and reluctance to invest. This acts as a drag on effective demand and results in secular stagnation. Distributional policies and public investment can, however, overcome stagnation its tendencies.
Secular Stagnation or stagnation policy? Steindl after Summers
The usual background and distinctions between complexity and neoclassical economics are presented Neoclassical economics deals with perfectly rational representative agents this creates states of equilibrium On the other hand complexity economics relaxes these assumptions to deal with responsive agents in an uncertain dynamic environment this creates states of disequilibrium More …
Foundations of complexity economics
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