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1230 results
In the interview, Robert Skidelsky discusses the emergence of political influence of a certain school of economic thought and how the success of an economic theory depends on the power relations in the society. He introduces the historical example of Keynesian economics and its replacement by liberal economic theory and policy in the aftermath of the Great Depression, and transfers this historical case to the dominant paradigm of austerity policies in the Europe as response to rising public debts caused by the Financial Crisis. He contrasts austerity policies with a Keynesian approach. Furthermore, he relates the targets of policy to the underlying power structures, for example when not the reduction of unemployment but the protection of financial capital is politically addressed.
Economics and Political Power during the Crisis
In this lecture Ben Fine aims at stimulating interest for and explaining the relevance of Marxist Political Economy. Ben Fine dedicates the first half of his comprehensible lecture to the question on how mainstream economics became the way it is by explaining its key concepts and how those evolved during the past 150 years. While critically reflecting those concept he also emphasizes that mainstream economics does not consider historical processes. This is the point of departure on his presentation of the core terms and crucial categories of Marxist Political Economy: e.g. the production process and class relations (Part 1). Part 2 examines the consequences of the capitalist mode of production and its propensity to crises. Ben Fine illustrates this Marxist analysis with the example of the current crisis and explains current conditions for the accumulation of capital.
Introduction to Marxist Economics (Part 2)
In this lecture Ben Fine aims at stimulating interest for and explaining the relevance of Marxist Political Economy. Ben Fine dedicates the first half of his comprehensible lecture to the question on how mainstream economics became the way it is by explaining its key concepts and how those evolved during the past 150 years. While critically reflecting those concept he also emphasizes that mainstream economics does not consider historical processes. This is the point of departure on his presentation of the core terms and crucial categories of Marxist Political Economy: e.g. the production process and class relations (Part 1). Part 2 examines the consequences of the capitalist mode of production and its propensity to crises. Ben Fine illustrates this Marxist analysis with the example of the current crisis and explains current conditions for the accumulation of capital.
Introduction to Marxist Economics (Part 1)
In this lecture Mirowski claims that a good critique of and alternative to neoclassical economics should focus on microeconomics. In addition, he claims that mainstream economics is not about a specific "human nature", instead the understanding of markets (partially based on Hayek) is of special importance. As an alternative Mirowski proposes institutionalist economics that builds upon how markets work nowadays (e.g. links to computer science).
Should Economists be Experts in Markets or in Human Nature?
The first keynote speech was given by Sebastian Dullien, current spokesperson of FMM and who is one of the most well-known German economists in applied European economics and a very active contributor to the pluralist debate. Sebastian discusses the strategy of “running with the pack” by using orthodox methods to disseminate pluralist economics and politics. Referring to diverse examples Sebastian addresses the pros and cons of “running with the pack” and proposes alternative approaches to achieve more pluralism in economics.
How to promote alternative macroeconomic ideas: Are there limits to running with the (mainstream) pack?
The article is a formal response to the debate between the economists Diane Coyle and Howard Reed, whose articles were published online by Prospect magazine in 2018. Then, it was taken by Rethinking Economics as representative for the vision of the global network which advocates for changing economics curricula. In fact, it clearly solves some issues within the debate around pluralism by explaining its common misunderstandings among academics and its true - often mislead - meaning.
Deliberate Misunderstandings in Economics: What Pluralism Really Means
This lecture briefly discusses historic understandings of the limits to infinite economic growth on a finite planet (from John Stuart Mill to Marx). Taking a ecological economics perspective it discusses the metabolism of the economy, the economy as a subsystem of the environment, biophysical limits to growth, and sustainable economic scales.
Ecological Limits to Growth
This is an introductory lecture to Stock Flow Consistent SFC modelling Antoine Godin presents this family of macroeconomic models which is based on a rigorous accounting framework and guarantees a correct and comprehensive integration of all the flows and the stocks of an economy SFC models focus especially on interactions …
Post Keynesian Stock-Flow consistent Modelling
The core of Georgism is a policy known as the Land Value Tax (LVT), a policy which Georgists claim will solve many of society and the economy’s ills. Georgism is an interesting school of thought because it has the twin properties that (1) despite a cult following, few people in either mainstream or (non-Georgist) heterodox economics pay it much heed; (2) despite not paying it much heed, both mainstream and heterodox economists largely tend to agree with Georgists. I will focus on the potential benefits Georgists argue an LVT will bring and see if they are borne out empirically. But I will begin by giving a nod to the compelling theoretical and ethical dimensions of George’s analysis, which are impossible to ignore.
It’s the Land, Stupid!
The need for the movement Black Lives Matter and the tragic events that preceded it are the clear manifestation of the problem of discrimination today, which we all intuitively perceive as a poignant socio-economic question of our times.
Economics of Discrimination - A CBD Perspective
The goal of this glossary is to help students to understand some of the basics of circular economy.
Glossary Circular Economy
The main goal of this website is to provide freely accessible resources on heterodox economics and examples of how it can be applied in Uganda’s context—and by extension, sub-Saharan Africa and the global South in general.
Open Economics Uganda (OEU)
Geographical economics starts from the observation that economic activity is clearly not randomly distributed across space. This revised and updated introduction to geographical economics uses the modern tools of economic theory to explain the who, why and where of the location of economic activity. The text provides an integrated, first-principles introduction to geographical economics for advanced undergraduate students and first-year graduate students, and has been thoroughly revised and updated to reflect important developments in the field, including new chapters on alternative core models and policy implications.
The New Introduction to Geographical Economics
This course introduces students to the relevance of gender relations in economics as a discipline and in economic processes and outcomes. The course covers three main components of gender in economics and the economy: (1) the gendered nature of the construction and reproduction of economic theory and thought; (2) the relevance and role of gender in economic decision-making; and (3) differences in economic outcomes based on gender. We wil touch on the relevance of gender and gender relations in at least each of the following topics: economic theory; the history of economic thought; human capital accumulation; labor market discrimination; macroeconomic policy, including gender budgeting; household economics; basic econometrics; and economic crises.
Gender Relations and Economics
Through contributions from leading authors, Issues in Heterodox Economics provides a critical analysis of the methodology of mainstream economics.
Issues In Heterodox Economics
Max Krahé explains the role of economic planning for a green transition.
The Whole Field - Markets, planning, and coordinating the green transformation
How can we shape urban development towards sustainable and prosperous futures This course will explore sustainable cities as engines for greening the economy We place cities in the context of sustainable urban transformation and climate change Sustainable urban transformation refers to structural transformation processes multi dimensional and radical change that …
Greening the Economy: Sustainable Cities
The Handbook on the Economics of Conflict conveys how economics can contribute to the understanding of conflict in its various dimensions embracing world wars, regional conflicts, terrorism and the role of peacekeeping in conflict prevention. The economics of conflict is a relatively new branch of the discipline of economics.
Handbook on the Economics of Conflict
Until the end of the early 1970s, from a history of economic thought perspective, the mainstream in economics was pluralist, but once neoclassical economics became totally dominant it claimed the mainstream as its own. Since then, alternative views and schools of economics increasingly became minorities in the discipline and were considered 'heterodox'.
Reclaiming Pluralism in Economics
Thomas Piketty's Capital in the 21st century is presented and the central argument that capital returns have historically exceeded growth rates, thus exacerbating inequality is illustrated.
An Introduction to Thomas Piketty's Capital in the 21st Century- A Macat Economics Analysis
Galbraith gives an overview of economic history from the 18th century until the end of the 19th century covering issues such as the industrial revolution the enclosure of the Scottish highlands the Irish famine and the colonization of North America Additionally the ideas of economists such as Smith Ricardo Malthus …
The Age of Uncertainty Episode 1 - The Prophets and Promise of Classical Capitalism
A previously unpublished collection of Rodney's essays on Marxism, spanning his engagement with of Black Power, Ujamaa Villages, and the everyday people who put an end to a colonial era
Decolonial Marxism
Florian Kern replies to Zoltan Pozsar's analysis about the effects of the war in Ukraine on the global financial order and refutes the latter's prognosis of the demise of the US dollar as the world's reserve currency
Why the war in Ukraine does not jeopardise the dollar's reserve currency status
"Could a cooperative market economy, in which firms are owned and controlled by their workers, be a viable and efficient alternative to capitalism?"
Economic Democracy: The Cooperative Alternative
This collection of essays, a supplement to History of Political Economy, brings together prominent scholars from economics, sociology, literature, and history to examine the role of biography and autobiography in the history of economics. The first of its kind, this volume looks at the relevance of first-person accounts to narrative histories of economics.
Economists' Lives
This book represents a new foundation for the study of microeconomics, viewed from a broad perspective that takes into account new developments at the intersections with psychology, political science, the natural sciences and philosophy.
Microeconomics. A fresh start
How has financialisation changed saving What are its implications on a macro economic level and from a welfare state perspective Craig Berry I PEEL
Saving
Modern Monetary Theory (MMT) is a school of monetary and macroeconomic thought that focuses on the analysis of the monetary and credit system, and in particular on the question of credit creation by the state.
Modern Monetary Theory
In this Blog Post on developmenteconomics org Christina C Laskaridis PhD candidate in Economics at SOAS elaborates on the economic fallout of the corona pandemic and especially its impact on the Global South The author focuses in particular on the issue of debt moratoria and debt restructuring and the measures …
Debt Moratoria in the Global South in the Age of Coronavirus
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
This book introduces 40 critical pointers for those who wish to see the theory in a broader, more realistic context. The material is suitable for introductory and intermediate courses and can be included selectively by students for additional reading or in lectures or tutorials as discussion points. "Students of mainstream economics need a guide like this to help them understand the underlying assumptions, limitations and inbuilt biases of what they are studying. It helps them open their eyes to a broader view of how real economies work."
40 Critical Pointers for Students of Economics
A comprehensive account of how government deficits and debt drive inflation
The Fiscal Theory of the Price Level
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