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1175 results
Capitalism cannot fulfil the promises of the French revolution: Liberty, Equality, Fraternity. Why? Richard Wollf elaborates on Marx's analysis of the distribution and organisation of surplus in society and his conclusion that there is something inherently wrong in capitalist class structure that still causes economic crisis in our modern times. Change requires changing the organisation of the production. This goes far beyond a discussion of 'more-state' vs. 'less-state'.
Intro To Marxian Economics
What is money and how does it work? The short film reveals common misunderstandings of where money comes from, explains how money is created by banks and presents consequences of money as credit. The video is part of the campaign positive money, promoting the democratic control over money creation.
What is money?
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
How money gets destroyed - Banking 101 (Part 6 of 6)
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
Misconceptions around Banking - Banking 101 (Part 1 of 6)
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
Do banks create money or just credit? - Banking 101 (Part 5 of 6)
Critique of neoclassical economics is presented and contrasted with the more realistic assumptions made by an complex adaptive systems and evolutionary approach.
Complexity Science: 11 Complexity Economics
The guides provide links to texts by Marx and Engels and present possible questions to discuss in study groups. The texts include Capial Volumes I – III, Economic & Philosophical Manuscripts or “Value, Price and Profit”.
Selected Marx-Engels Study Guides
Mounting evidence suggests a lot of published research is false. Check out Audible: http://bit.ly/AudibleVe Support Veritasium on Patreon: http://bit.ly/VePa...
Is Most Published Research Wrong?
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
What's wrong with the money multiplier? - Banking 101 (Part 2 of 6)
This short video by the Khan Academy presents a classic introduction to economic teaching. Starting with the quote by Adam Smith in "The Wealth of Nations" on the invisible hand, it shows how economics deals with the question of the allocation of scarce resources and shortly presents different questions addressed by microeconomics and macroeconomics. It further makes reference to questions of simplification in mathematical models.
Introduction to economics | Supply, demand, and market equilibrium | Microeconomics
The sum of squares and degree of freedom calculation from the previous videos are put into a ratio to calculate the F Value, on whose basis the null hypothesis is confirmed or rejected. If variance is higher between samples than within the null hypothesis is more likely to be rejected. The results of a numerical example are interpreted more abstractly and then tested with regards to a confidence interval and the corresponding F table.
ANOVA 3: Hypothesis test with F-statistic
This dossier gives an overview of the functions and the nature of money. The concept of Islamic finance is briefly explored, too.
The Nature of Money
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
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 short clip gives a basic introduction to the concept of the market equilibrium and its graphical representation: taking the example of a market for apples, it presents supply and demand curves as well as scenarios how prices and quantities adapt, leading to an equilibrium.
Market equilibrium | Supply, demand, and market equilibrium | Microeconomics |
In the second video of the series Investigating International Finance, an alternative view on capital controls is given contrasting with the paradigm of classical trade theory suggesting that the removal of trade and capital barriers is associated with higher market efficiency. After explaining the conceptual mechanisms underlying capital controls, examples are introduced where countries actually apply capital controls and how these controls have been associated with a lesser exposure to international financial crises spillovers.
Capital controls - Investigating International Finance, Episode 2
The chi-square distribution is used to test a hypothesis. Therefore, expected values are related to observed values using a chi-square distribution. Then using p-value tables the hypothesis is tested at a 5% significance level.
Pearson's chi square test (goodness of fit) | Probability and Statistics | Khan Academy
First some properties about the Sum of squared residuals and the linear regression function are restated. In particular three properties that an ideal fitted regression line must fulfill are discussed. Then, the R squared is defined using the measures of the Sum of squared residuals, the total sum of squares and the sum of explained squares.
Econometrics // Lecture 3: OLS and Goodness-Of-Fit (R-Squared)
Based on a critique on econometric and DSGE models (in particular in the context of the financial crisis), Doyne Farmer presents his current research programme that aims at building an agent-based model of the financial and economic crisis. It models heterogeneous agents and from there simulates the economy, firstly for the housing market. The interview gives a short insight in the research programme.
Macroeconomics From the Bottom Up
This essay suggests to bring together two aspects of economic thought which so far have developed largely separately: degrowth and feminist economics. In this strive, the concept of care work and its role in feminist economics will be introduced and the downsides of the commodification of care work will be discussed. Subsequently, contributions to the discussion on the (re)valuation of care work will be taken into account.
Who cares? A convergence of feminist economics and degrowth
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
Multimedia dossier on unpaid labor (featuring the UK statistics office unpaid work calculator), migrant care labor and feminist political economy more generally.
Housework – I-PEEL.org
A concise introduction to Marx's Labour Theory of Value, the three ratios and the falling rate of profit hypothesis.
Marx's Theory of Economic Crisis
First some definitions regarding econometrics, regressions, types of data and independent and dependent variables are given. Then the basic function of a simple regression analysis is explained. Lastly, there is discussion of the meaning of the error term.
Econometrics // Lecture 1: Introduction
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
How much money can banks create - Banking 101 (Part 4 of 6)
In this Ted Talk, Mariana Mazzucato argues against the juxtaposition of the state and entrepreneurial activities. By presenting examples of her research on the relation between innovation and (inclusive) growth, she shows how many innovations were led by states' initiatives. Mazzucato confronts the liberal narrative of the a state that merely provides the frame for the market.
Government - investor, risk-taker, innovator
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 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
This essay deals with the concepts of Sustainable Land Management (SLM) and Land Degradation Neutrality (LDN).
The importance of a Land Degradation Neutrality approach to achieving Sustainable Land Management
Esther Duflo discusses the fact that in social policy one cannot check the big questions, i.e. whether development assistance as an aggregate is helpful, because there is no counterfactual. She then suggests to focus on smaller questions such as what prevents or incentiveses people from immunizing their kids or whether mosquito bednets should be distributed for free. These questions can be answered by using randomized control trials as in the medical sciences. Thus, she argues, by bringing the experimental method to social policy analysis better decisions as to where allocate funds can be made.
Social experiments to fight poverty
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
How is money really made by banks? - Banking 101 (Part 3 of 6)
In this short talk „On Economics“ Ha-Joon Chang, author of the book „Economics: The User's Guide“, gives a critical wrap-up on the economic discipline – on what is perceived as economics, what are dominant paradigms, the role of numbers and economics in public life. He further elaborates on the importance of heterodox schools of thought.
Ha-Joon Chang on Economics
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