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This multimedia dossier explores the production chain of smartphones. In particular due to the violation of workers' rights and low payments, the author Benjamin Selwyn calls those production structures global poverty chains. In this context, he points to the importance of workers' struggles. 2016 Level: beginner Production Chain of Smartphones Benjamin Selwyn I-PEEL The notion that the demand and supply side are independent is a key feature of textbook undergraduate economics and of modern macroeconomic models. Economic output is thought to be constrained by the productive capabilities of the economy - the ‘supply-side' - through technology, demographics and capital investment. In the short run a boost in demand may increase GDP and employment due to frictions such as sticky wages, but over the long-term successive rises in demand without corresponding improvements on the supply side can only create inflation as the economy reaches capacity. In this post I will explore the alternative idea of demand-led growth, where an increase in demand can translate into long-run supply side gains. This theory is most commonly associated with post-Keynesian economics, though it has been increasingly recognised in the mainstream literature. 2020 Level: beginner It’s Demand All the Way Down Cahal Moran Rethinking Economics What are the challenges and opportunities for achieving decent work in global supply chains How do transnational corporations and their global supply chains operate How can they be more effectively governed Mark Anner Esther Busser Michael Fichter Tandiwe Gross Frank Hoffer Jenny Holdcroft Praveen Jha Maité Llanos Adam Lee Victor … Level: beginner Decent Work in Global Supply Chains Mark Anner, Esther Busser, Michael Fichter, Tandiwe Gross, Frank Hoffer, Jenny Holdcroft, Praveen Jha, Maité Llanos, Adam Lee, Victor Hugo Ricco, Christoph Scherrer Iversity The video presents different ways of how to measure the money supply and thereby explains the differences between M0, M1 and M2. 2012 Level: beginner Money supply: M0, M1, and M2 | The monetary system   Khan Academy 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. 2012 Level: beginner Market equilibrium | Supply, demand, and market equilibrium | Microeconomics |   Khan Academy Recording of the Workshop “The collateral supply effect on central banking”, 04.02.2021, part of the "Next Generation Central Banking - Climate Change, Inequality, Financial Instability" conference by the Heinrich-Böll-Stiftung 2021 Level: advanced NextGen Central Banking: The collateral supply effect on central banking Finanzwende e.V. & Heinrich-Böll-Stiftung, Carolyn Sissoko, UWE Bristol; Steffen Murau, Boston University; Michael Peters, Finanzwende Transformative Responses, Heinrich-Böll-Foundation & Finanzwende This article reviews insights of existing literature on global care chains. A specific focus is laid on the impact that the refugee crisis has on global care chains and in turn how the crisis impacts the de-skilling of the women in the migrant workforce. 2017 Level: beginner Global care chains, refugee crisis, and deskilling of workers Dita Dobranja Exploring Economics This video by the Khan Academy presents the difference between monetary policy and fiscal policy and how they affect aggregate demand. The video especially elaborates on the basic explanation on how expansionary monetary policy increases aggregate demand via the market for money and the AD-AS model. 2012 Level: beginner Monetary and fiscal policy | Aggregate demand and aggregate supply | Macroeconomics   Khan Academy 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. 2012 Level: beginner Introduction to economics | Supply, demand, and market equilibrium | Microeconomics   Khan Academy The current global financial system may not withstand the next global financial crisis. In order to promote the resilience and stability of our global financial system against future shocks and crises, a fundamental reconceptualisation of financial regulation is necessary. This reconceptualisation must begin with a deep understanding of how today's financial markets, regulatory initiatives and laws operate and interact at the global level. 2016 Level: advanced Reconceptualising Global Finance and its Regulation Ross P. Buckley, Emilios Avgouleas, Douglas W. Arner Cambridge University Press Global Value Chains (GVCs) started to play an increasing and key role in the global economy from the 1990s on. The market mechanism in GVCs supports industrialisation in the Global South and under certain conditions product and process upgrading. But GVCs do not lead to the catching-up of countries in the sense of them approaching real GDP per capita levels comparable with developed countries. These arguments are supported by a critical interpretation of the traditional trade theory, the New Trade Theory and specific approaches to explain GVCs, especially different governance structures and power relationships. Several case studies support these arguments. For catching-up, countries need comprehensive horizontal and vertical industrial policy and policies for social coherence. The small number of countries which managed to catch up did this in different variations. Level: beginner Global Value Chains in economic development   Institute for International Political Economy Berlin Özlem Onaran analyses the current problems of secular stagnation from a global perspective. At the core of global economic problems is insufficient demand caused by falling wage shares, because most individual countries, and the world as a whole are “wage-led”. Hence a strategy for global growth is to aim at increasing wages and thus the wage share, and the abandonment of policies focusing purely on national competitiveness. Financialization has broken the link between corporate profitability and investment. Reregulation of finance and higher public investment is required in order to crowd in private investment, in this way, reversing the declining trend of potential output growth. 2015 Level: advanced Current Problems of Secular Stagnation from a Global Perspective Özlem Onaran IMK The Commentary explains the circular value chain and innovation potential along it. Focusing on Israel, examples on how cross-industry collaboration can help supporting a successful positioning in a (Digital) Circular Economy are presented. 2022 Level: beginner Innovation Potential for a Circular Economy "Made in Israel" Dr. Vered Blass, Dr. Nicole Stein Israel Public Policy Institute 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. 2020 Level: beginner Origins & Emergence of the 2020 Great Recession in the US Economy Dr. Jack Rasmus Exploring Economics What does political economy say about the global sugar production? Take a look at global trade regulations, intercountry inequalities, and the role of marketing. 2015 Level: beginner Global sugar production - regulations, intercountry inequalities, and marketing Ben Richardson I-PEEL In order to describe the global structure of the monetary and financial system and its effects on the global economy, most economics textbooks rely on unappropriated theories that provide nothing but outdated descriptions. In this talk, key speakers in economics, economic history and banking try to make this complex system a little more understandable by relying on real-world insights. 2016 Level: advanced Global Money: Past, Present, Future Perry Mehrling, Adam Tooze, Patricia Mosser, Phil Prince and Katharina Pistor (moderator) Columbia Global Thought In this virtual teach-in, radical economists David McNally (author of the essential Global Slump) and Hadas Thier (author of the forthcoming A People’s Guide to Capitalism) will try to help activists make sense of the twists, turns, and sudden collapses in the world economy that have been playing out in the background during this global health emergency. 2020 Level: advanced Microbes and Macroeconomics: Understanding the Pandemic and the Global Slump David McNally Haymarket Books The authors analyse the role and effects of the US dollar as factual global reserve currency. They demonstrate that a flight into the dollar creates adverse effects for the global economy as it represents a tightening of financial conditions. 2021 Level: advanced Dollar dominance and the international adjustment to global risk Georgios Georgiadis, Gernot Müller, Ben Schumann Centre for Economic Policy Research The novel coronavirus (Covid-19) is rapidly spreading around the world. The real economy is simultaneously hit by a supply shock and a demand shock by the spread of coronavirus. Such a twin shock is a rare phenomenon in recent economic history. 2020 Level: beginner How to Manage the Economic Fallout of the Coronavirus Kavaljit Singh Madhyam In parallel to rising inflation numbers, the concept of profit inflation has clearly risen to prominence in recent years. But what is it exactly? This dossier aims not only to collect the most important publications on profit inflation but also intends to map out the development of the discourse and the different positions within the debate. 2024 Level: advanced Profit Inflation: Mapping the debate Theresa Walter Exploring Economics A comprehensive textbook on contemporary Global Political Economy and its historical evolution providing a broad-ranging and even-handed introduction to the subject by covering traditional elements (such as trade and finance) while also analysing issues such as gender, environment and labour. 2020 Level: advanced Global Political Economy Robert O'Brien & Marc Williams Red Globe Press This MOOC (Massive Open Online Course) discusses Global Workers’ Rights and shows instruments and strategies which can be used to implement them. Level: beginner Workers' Rights in a Global Economy Paul Whitehead; Mark Anner; Mark Anner; Stefanie Lorenzen; Fernando Lopes; Michael Fichter; Frank Hoffer; Victor Hugo Ricco; Camilo Rubiano; Christoph Scherrer; Ben Scully; Beatriz Vacotto; Beatriz Vacotto Global Labour University One of the world’s leading economists of inequality, Branko Milanovic presents a bold new account of the dynamics that drive inequality on a global scale. Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations. 2016 Level: advanced Global Inequality Branko Milanovic Harvard University Press In this podcast, Laura Basu speaks with a range of expert academics and public speakers – such as Jayati Ghosh, Yanis Varoufakis, Walden Bello, and Ashish Kothari about how the rules of the global economy are fostering the inequality and underdevelopment we see today. 2020 Level: beginner Decolonising the Global Economy Laura Basu, Jayati Ghosh, Yanis Varoufakis, Walden Bello and Ashish Kothar openDemocracy This paper attempts to clarify how the European economic crisis from 2007 onwards can be understood from the perspective of a Marxian monetary theory of value that emphasizes intrinsic, structural flaws regarding capitalist reproduction. Chapter two provides an empirical description of the European economic crisis, which to some extent already reflects the structural theoretical framework presented in chapter three. Regarding the theoretical framework Michael Heinrich's interpretation of 'the' Marxian monetary theory of value will be presented. Heinrich identifies connections between production and realization, between profit and interest rate as well as between industrial and fictitious capital, which represent contradictory tendencies for which capitalism does not have simple balancing processes. In the context of a discussion of 'structural logical aspects' of Marx's Critique of the Political Economy, explanatory deficits of Heinrich's approach are analyzed. In the following, it is argued that Fred Moseley's view of these 'structural logical aspects' allows empirical 'applications' of Marxian monetary theories of value. It is concluded that a Marxian monetary theory of value, with the characteristics of expansive capital accumulation and its limitations, facilitates a structural analysis of the European economic crisis from 2007 onwards. In this line of argument, expansive production patterns are expressed, among other things, in global restructuring processes, while consumption limitations are mitigated by expansive financial markets and shifts in ex-port destinations. 2019 Level: expert The European economic crisis from 2007 onwards in the context of a global crisis of over-production of capital - a Marxian monetary theory of value interpretation Sascha Gander Institute for International Political Economy Berlin Global Social Theory is a large wiki-like project by Gurminder K Bhambra. Its central aim is decolonising and diversifying universities, production of knowledge, and social thought in general. It represents a large online library divided into three parts: concepts, thinkers, and topics in/of social theory and decolonial thought. Every part comprises of short, introductory articles on an according theme. It may be helpful to give you a general overview (and a list of basic readings) on the most essential areas of social theory: caste, class, and race; civil society; racism; secularism; feminism and many others. It may also allow students whose university curriculum in sociology, economics, or other social sciences lacks diversity to compensate for that. Level: beginner Global Social Theory Multiple academic authors: professors, researchers, and lecturers. globalsocialtheory.org Dani Rodrik, Professor of International Political Economy at Harvard's Kennedy School of Government, is teaching in this online session about the global rules under which the modern (free trade-focused) type of globalization operates and why, under such institutions, international community fails to deal with the climate change and pandemics. 2020 Level: beginner Pandemics, Climate Change, and Global Economics: Where Did We Go Wrong in Globalization? Dani Rodrik Harvard Kennedy School The likely global impacts of the economic fallout from the Coronavirus and how we might be better prepared than the 2008 economic crisis to put forward progressive solutions. 2020 Level: beginner The coming global recession: building an internationalist response   Transnational Institute Popular anger against the financial system has never been higher, yet the practical workings of the system remain opaque to many people. The Heretic's Guide to Global Finance aims to bridge the gap between protest slogans and practical proposals for reform. 2013 Level: advanced The Heretics Guide to Global Finance Brett Scott Pluto Press In this episode of the podcast "Hear this idea", Dr. Carolina Alves delves into the political debate surrounding Heterodox Economics and elaborates on D-Econ's mission to promote greater inclusivity in the field of Economics concerning gender, race, and representation from the Global South. 2020 Level: beginner Carolina Alves on Heterodox Economics, Diversity in Academia, and the Global South Carolina Alves Hear This Idea Whether a black swan or a scapegoat, Covid-19 is an extraordinary event. Declared by the WHO as a pandemic, Covid-19 has given birth to the concept of the economic “sudden stop.” We need extraordinary measures to contain it. 2020 Level: beginner Triggering a Global Financial Crisis: Covid-19 as the Last Straw T Sabri Öncu Counterpunch, Prime A multimedia dossier outlining the relevance and the history of the shipping container for global trade and supply chains. 2017 Level: beginner Container – I-PEEL.org Charmaine Chua I-PEEL

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