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179 results
In this essay the authors take a look at how welfare could be provided in a degrowth society.
Bidding farewell to growth: How to provide welfare in a degrowth society
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
Through contributions from leading authors, Issues in Heterodox Economics provides a critical analysis of the methodology of mainstream economics.
Issues In Heterodox Economics
The concept of financialisation has undergone a similar career as ‘globalisation’, ‘neoliberalism’ or even ‘capitalism’, in the course of which it changed from the explanandum to the explanans; the process of financialisation is taken for granted, while the concrete historical and empirical causal conditions of its realisation and perpetuation are being moved into the background.
A holistic theory of financialisation
Fabian Georgi analyses how migration and borders are connected to capitalism.
Recruiting skilled labour, while closing borders? The connection between migration, border regimes and capitalism
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 Philosophy of Economics Foundational Text provides a systematic and well-structured overview over the field of philosophy of economics.
Philosophy of Economics
Approaching the law of nature that determines all forms of economy. The bulk of economic theory addresses the economic process by setting out on a catalogue of aspects, seeking the laws in the aspects and hoping to get together a reliable view of the whole.
Economic theory, methodology, and secure foundations
The article pursues the two related questions of how economists pretend to know and why they want to know at all. It is argued that both the economic form of knowledge and the motivation of knowing have undergone a fundamental change during the course of the 20th century. The knowledge of important contemporary economic textbooks has little in common with an objective, decidedly scientifically motivated knowledge. Rather, their contents and forms follow a productive end, aiming at the subjectivity of their readers.
An essay on the putative knowledge of textbook economics
In this essay the authors argue for a wider concept of care work that includes community building, civic engagement and environmental activism. On the basis of the case of Cargonomia, a grassroot initiative in Budapest, they show that such a wider concept of care work could allow for different narratives that promote sustainable lifestyles with a milder environmental and social impact on the planet and its communities.
Reimagining the world of (care)work: the case of Cargonomia
UBC's Henry Siu, a professor at the Vancouver School of Economics, speaks about innovation in economics, technological progress and what it means for the fut...
Understanding technological change
If there’s one method economists have neglected the most, it’s qualitative research. Whereas economists favour mathematical models and statistics, qualitative research seeks to understand the world through intensive investigation of particular circumstances, which usually entails interviewing people directly about their experiences. While this may sound simple to quantitative types the style, purpose, context, and interpretation of an interview can vary widely. Because of this variety, I have written a longer post than usual on this topic rather than doing it a disservice. Having said that, examples of qualitative research in economics are sadly scant enough that it doesn’t warrant multiple posts. In this post I will introduce qualitative research in general with nods to several applications including the study of firm behaviour, race, Austrian economics, and health economics. More than usual I will utilise block quotes, which I feel is in the spirit of the topic.
Qualitative Methods in Economics: "You Can Observe a Lot Just by Watching"
The global financial crisis (GFC) led to increasing distrust in economic research and the economics profession, in the process of which the current state of economics and economic education in particular were heavily criticized. Against this background we conducted a study with undergraduate students of economics in order to capture their view of economic education.
What economics education is missing: The real world
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 will 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; economic history; and economic crises.
Feminist Economics
When you notice inequality in your everyday life do you ever wonder where it comes from and what keeps it going This sociology course introduces you to core concepts of class gender and racial inequality and an approach to studying complex forms of inequality called intersectionality Featuring interviews with top …
Global Inequality
This volume explores the relationship between law and economics principles and the promotion of social justice. By social justice, we mean a vision of society that embraces more than traditional economic efficiency. Such a vision might include, for example, a reduction of subordination and discrimination based on race, religion, gender, sexual orientation, age, disability or class.
Law and Economics
Over the last decade, the world's largest corporations - from The Coca Cola Company to Amazon, Apple to Unilever - have taken up the cause of combatting modern slavery. Yet, by most measures, across many sectors and regions, severe labour exploitation continues to soar. Corporate social responsibility is not working. Why?
Combatting Modern Slavery
hether it's working for free in exchange for 'experience', enduring poor treatment in the name of being 'part of the family', or clocking serious overtime for a good cause, more and more of us are pushed to make sacrifices for the privilege of being able to do work we enjoy. Work Won't Love You Back examines how we all bought into this 'labour of love' myth: the idea that certain work is not really work, and should be done for the sake of passion rather than pay.
Work Won't Love You Back
The last 15 years have seen extensive research into ecosystem service valuation (ESV), spurred by the Millenium Ecosystem Assessment in 2005 (Baveye, Baveye & Gowdy, 2016). Ecosystem services are defined as “the benefits people obtain from ecosystems” (Millenium Ecosystem Assessment, p.V). For example, ecosystems provide the service of sequestering carbon which helps regulate the climate. Valuation means giving ecosystems or their services a monetary price, for example researchers have estimated that the carbon sequestration services of the Mediterranean Sea is between 100 and 1500 million euros per year. The idea of ESV was a response to the overuse of natural resources and degradation of ecosystems, allegedly due to their undervaluation and exclusion from the monetary economy. ESV can be used (1) for policy decision-making, for example allocating funding to a reforestation project (2) for setting payments to people who increase ecosystem services, for example a farmer increasing the organic carbon content of their soil, and (3) for determining fees for people who degrade ecosystem services, for example a company that causes deforestation.
A Pluralist Perspective on Ecosystem Service Valuation Introduction
Framing borders as an instrument of capital accumulation imperial domination and labor control Walia argues that what is often described as a migrant crisis in Western nations is the outcome for the actual crisis of capitalism conquest and climate change This book shows the displacement of workers in the global …
Border and Rule
For a long time, price controls were considered taboo, as neoliberal economic theory assumes that prices are supposedly formed freely by supply and demand. But especially in times of crisis, the state must intervene and cap prices to protect wage earners from excessive burdens. However, the how matters.
Price Controls Against Inflation
In this essay, the author takes a critical perspective on the pursuit of growth as the solution for providing for environmental sustainability and economic stability in the countries of Central and Eastern Europe.
Drawing from the framework of dependency theory and presenting brief insights into European core-periphery relations the author then argues for the implementation of an alternative strategy to development that is built around the concept of self-reliance.
Dependency in Central and Eastern Europe - Self-reliance and the need to move beyond economic growth
An essay of the writing workshop on contemporary issues in the field of Nigerian economics: The adverse effect of climate change is overwhelming, not just in Nigeria but globally. Global warming is the result of hostile human activities that have impacted the environment negatively. This is the principal variable the government should tackle through practical innovations such as the acceptable implementation of Adaptation Policies and also through the adequate implementation of environmental tax. These will enhance pro-environmental behaviour which is fit for socio-political and economic activities for sustainability.
The Role of Fiscal Policy in Climate Change Mitigation Via Environmental Management and Sustenance in Nigeria
Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
Yes, Money is Endogenous. Who Cares?
The Great Recession 2.0 is unfolding before our very eyes. It is still in its early phase. But dynamics have been set in motion that are not easily stopped, or even slowed. If the virus effect were resolved by early summer—as some politicians wishfully believe—the economic dynamics set in motion would still continue. The US and global economies have been seriously ‘wounded’ and will not recover easily or soon. Those who believe it will be a ‘V-shape’ recovery are deluding themselves. Economists among them should know better but are among the most confused. They only need to look at historical parallels to convince themselves otherwise.
Origins & Emergence of the 2020 Great Recession in the US Economy
Institutional economics focuses on the role of social institutions in terms of laws or contracts, but also those of social norms and patterns of human behaviour that are connected to the social organisation of production, distribution and consumption in the economy.
Institutionalist Economics
In this essay, the principle of capital accumulation, as well as the idea of homo economicus as the basis of the growth model, are located and analyzed from a feminist perspective. The sufficiency approach is presented as an alternative to these two economic logics.
Enough! The Sufficiency Approach and the Limits of Economic Growth
Capitalism is dissolving boundaries - not only in the sense of ever-expanding global trade flows, but also in the concrete everyday working lives of individuals. What implications does this have for our understanding of freedom, work and borders?
Capitalism & Boundaries
In this text, Fred Heussner takes up the debate on anti-fascist economics, places it in the context of existing developments and identifies potential for further development.
Anti-fascist economics? For sure! But what does that mean?
Exploring Economics, an open-access e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
Socialist alternatives to capitalism II: Vienna to Santa Fe
MERCOSUR (Mercado Común del Sur or Common Southern Market) was the first formalized attempt to integrate South American countries economically and politically.
How can MERCOSUR move forward?
Firms are the primary places where economic activity takes place in modern capitalist economies: they are where most stuff is produced; where many of us spend 40 hours a week; and where big decisions are made about how to allocate resources. Establishing how they work is hugely important because it helps us to understand patterns of production and consumption, including how firms will react to changes in economic conditions and policy. And a well-established literature – led by post-Keynesians and institutionalists – holds that the best way to determine how firms work is to…wait for it...ask firms how they work. This a clearly sensible proposition that is contested in economics for some reason, but we’ll ignore the controversy here and just explore the theory that springs from this approach.
The ‘How Firms Work’ Approach to How Firms Work
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