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That’s why it is time, says renegade economist Kate Raworth, to revise our economic thinking for the 21st century. In Doughnut Economics, she sets out seven key ways to fundamentally reframe our understanding of what economics is and does.
The 2007–08 credit crisis and the long recession that followed brutally exposed the economic and social costs of financialization. Understanding what lay behind these events, the rise of “fictitious capital” and its opaque logic, is crucial to grasping the social and political conditions under which we live. Yet, for most people, the operations of the financial system remain shrouded in mystery.
Participants should be able to distinguish the strictly non-cooperative (methodological individualist) foundations of traditional neoclassical economics as being couched in self-interested individuals, as well as having basic knowledge of an alternative set of theories based on the primacy cooperation and social norms and extending the breadth of economic analysis beyond exchange.
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'.
Feminist economics is a key component of the movement for pluralism in economics and one that has, to some extent, been acknowledged by the mainstream of the profession. It seeks to highlight issues which affect women because (it claims) they have not traditionally been recognised in a field dominated by men. On top of this, it seeks to carve out a space for women in the discipline, both for intrinsic reasons of fairness and diversity and because it means that women’s issues are more likely to be highlighted going forward.
This brief but comprehensive account of the Post Keynesian approach to economic theory and policy is ideal for advanced undergraduate and postgraduate students in economics, public policy and other social sciences. Clear, non-technical and with a strong policy focus, it will also appeal to all of those who are dissatisfied with mainstream economics and wish to explore the alternatives.
Mainstream economic theory has been increasingly questioned following the recent global financial crisis. Marc Lavoie shows how post-Keynesian theory can function as a coherent substitute by focusing on realistic assumptions and integrating the financial and real sides of the economy.
Introduction Economics is by necessity a multi paradigmatic science Several theoretical structures exist side by side and each theory can never be more than a partial theory Rothschild 1999 Likening scientific work to the self coordinating invisible hand of the market Michael Polanyi cautioned strongly against centralized attempts to steer …
The Wealth of Ideas traces the history of economic thought, from its prehistory (the Bible, Classical antiquity) to the present day.
Surviving the Future is a story drawn from the fertile ground of the late David Fleming's extraordinary 'Lean Logic: A Dictionary for the Future and How to Survive It'. That hardback consists of four hundred and four interlinked dictionary entries, inviting readers to choose their own path through its radical vision. Recognizing that Lean Logic's sheer size and unusual structure can be daunting, Fleming's long-time collaborator Shaun Chamberlin has selected and edited one of these potential narratives to create Surviving the Future. The content, rare insights, and uniquely enjoyable writing style remain Fleming's, but are presented here at a more accessible paperback-length and in conventional read-it-front-to-back format
Aim: to work out jointly with students a systematic perception of how the gender factor can impact on economic and demographic development. This course is pioneering: it is the first time that such a course has been introduced into the curriculum of a Russian higher educational institution with a focus on economics.
In this searing and insightful critique, Adrienne Buller examines the fatal biases that have shaped the response of our governing institutions to climate and environmental breakdown, and asks: are the 'solutions' being proposed really solutions? Tracing the intricate connections between financial power, economic injustice and ecological crisis, she exposes the myopic economism and market-centric thinking presently undermining a future where all life can flourish.
This essay deals with the concepts of Sustainable Land Management (SLM) and Land Degradation Neutrality (LDN).
Completing the Economics of Discrimination module, the students should have acquired knowledge and understanding of the existing similarities and differences of the definition and analysis of discrimination across economic theory and cultural theory.
The goal of this course is to explore these differences in economic outcomes observed among women and men, measured by such things as earnings, income, hours of work, poverty, and the allocation of resources within the household. It will evaluate women’s perspectives and experiences in the United States and around the world, emphasizing feminist economics.
Is degrowth bad economics To properly answer this question it is essential to understand what economic growth really is The term growth is often associated with an increase in wealth a term loosely defined but according to the degrowth movement economic growth is a narrower concept only describing an increase …
Dani Rodrik reflects in this book on important questions about how economics works and what might be wrong with it. He points out flaws and weakness of the discipline, but also argues that certain criticisms which have brought forward against are without merit. His central point is that there is not just one economic model, but a variety of them and it is important to apply judgment when selecting the most suitable one for a particular situation.
MERCOSUR (Mercado Común del Sur or Common Southern Market) was the first formalized attempt to integrate South American countries economically and politically.
Markets are the focus in modern economics: when they work, when they don’t and what we can or can’t do about it. There are many ways to study markets and how we do so will inevitably affect our conclusions about them, including policy recommendations which can influence governments and other major organisations. Pluralism can be a vital corrective to enacting real policies based on only one perspective and a plethora of approaches provide alternatives to the canonical view. Although they have differing implications, these approaches share the idea that we should take a historical approach, analysing markets on a case-by-case basis; and they share a faith in the power of both individuals and collectives to overcome the problems encountered when organising economic activity.
The Routledge Handbook of Heterodox Economics presents a comprehensive overview of the latest work on economic theory and policy from a 'pluralistic' heterodox perspective.
Contributions throughout the Handbook explore different theoretical perspectives including: Marxian-radical political economics; Post Keynesian-Sraffian economics; institutionalist-evolutionary economics; feminist economics; social economics.
An examination of women's changing economic roles. Includes an analysis of labour force participation, wage inequality, gender differences in education, intra-household distribution of resources, economics of reproduction, and how technological change affects women.
Adam Smith's The Wealth of Nations provided the first, most influential and lasting explanation of the workings of modern economics. But with his focus on "the market" as the best mechanism for producing and distributing the necessities of life, Smith's concepts only told part of the story, leading to flawed economic models that devalue activities that fall outside of the market's parameters of buying and selling.
Uncertain Futures considers how economic actors visualize the future and decide how to act in conditions of radical uncertainty. It starts from the premise that dynamic capitalist economies are characterized by relentless innovation and novelty and hence exhibit an indeterminacy that cannot be reduced to measurable risk.
In a changing world that has been shaken by economic, social, financial, and ecological crises, it becomes increasingly clear that new approaches to economics are needed for both theoretical and empirical research; for applied economics as well as policy advice.
The general idea of a Job Guarantee (JG) is that the government offers employment to everybody ready, willing and able to work for a living wage in the last instance as an Employer of Last Resort. The concept tackles societal needs that are not satisfied by market forces and the systemic characteristic of unemployment in capitalist societies. Being a central part of the Modern Monetary Theory (MMT), attention for the JG concept rose in recent years.
Caring activities are one central element of feminist economists' analysis – also since in particular unremunerated work is a blind spot in mainstream economics and most other economic paradigms. Those focus on the market sphere: activities are considered as productive and as real labour if they are remunerated and market-intermediated. Goods and services are considered as labour if they create a value which can be traded on the market. Feminist Economics remarks that this perspective creates certain dichotomies and consequent devaluations: unproductive – productive; private – public; unpaid – remunerated OR paid less – well paid; female – male; soft work – hard work; caring – rationality.
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.
After completing the module, participants should have gained a basic understanding of the economic school of thought referred to as "Modern Monetary Theory" and should be able to analyze the monetary processes at play in the economy and evaluate fiscal and monetary policy decisions from an MMT-perspective.
This course will expose students to some of the key debates that link digital transformations to economic, social, and political inequalities. Students will be familiarised with a variety of theoretical movements in development studies and internet studies: exploring thinking that frames the internet as a leveller that can bridge divides vs. exploring the internet as an infrastructure that amplifies existing inequalities.
Social and Solidarity Economy (SSE) and Feminist Economics make a conjoint statement: The way we see the economic system has nothing to do with human beings nor those who have been surviving outside the market.
By the end of this course, students should understand the basic economic theories of the gender division of labor in the home and at the workplace, and theories of gender differences in compensation and workforce segregation.
In this book the author develops a new approach to uncertainty in economics, which calls for a fundamental change in the methodology of economics. It provides a comprehensive overview and critical appraisal of the economic theory of uncertainty and shows that uncertainty was originally conceptualized both as an epistemic and an ontological problem.
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