820 results

This article examines the spread of financialization in Germany before the financial crisis. It provides an up-to date overview on the literature on financialization and reviews which of the phenomena typically associated with financialization have emerged in Germany. In particular, the article aims to clarify how the prevailing institutional structure and its changes had contributed to or had countervailed the spread of financialization and how it had shaped the specific German variant of financialization. For this end, it combines the rich literature on Germany's institutional structure with the more macroeconomic oriented literature on financializaton. With the combination of those different perspectives the article sheds light on the reasons for the spread of financialization and the specific forms it has taken in Germany.
2019
Level: beginner
Financialization made in Germany: A review
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
After a brief illustration of sovereign green bonds’ features, this paper describes the market evolution and identifies the main benefits and costs for sovereign issuers. The financial performance of these securities is then analysed.
2021
Level: advanced
Green Bonds: the Sovereign Issuers’ Perspective
Karl Marx was the greatest champion of the labor theory of value. The logical problems of this theory have, however, split scholars of Marx into two factions: those who regard it as an indivisible component of Marxism, and those who wish to continue the spirit of analysis begun by Marx without the labor theory of value.
1993
Level: expert
Use-Value, Exchange Value, and the Demise of Marx's Value Theory of Labor
Western sanctions on Russia after its invasion of Ukraine quickly led the Ruble to lose more than 45 percent of its value. But these days, the Russian currency is back to its pre-war value. Cameron and Adam explain the turnaround and discuss what it means for the war.
2022
Level: beginner
How the Russian Ruble Bounced Back
What are the debates, feminist and otherwise, surrounding the phenomena of globalization? How does a gendered lens complicate our understandings of neoliberal globalization? How are particular labor regimes integral to global restructuring, and how are these gendered? What are the implications of global restructuring for bodies, identities, relations, and movements?
2014
Level: beginner
The Gender and Labor of Globalization
The podcast discusses how to deal with the rising inflation and presents a comparative perspective between the US and the EMU. Basically the speakers discuss whether we are heading to a stagflation in Europe similar to the 1970s and they compare the macroeconomic dynamics in the United States vs. the EMU.
2022
Level: advanced
Taming inflation? What are the implications of prolonged inflation?
The goal of this teaching pack by Economy Studies is to make students familiar with different visions for how the economy could be organised and enable them to critically reflect on such ideas. As future economic experts, it is important that they become aware of prominent proposals for reorganising the economy and practise how to deal with them.
2022
Level: beginner
(Some) Visions for the economy - Economy Studies
Since 2007, central banks of industrialized countries have counteracted financial instability, recession, and deflationary risks with unprecedented monetary policy operations. While generally regarded as successful, these measures also led to an exceptional increase in the size of central bank balance sheets. The book first introduces the subject by explaining monetary policy operations in normal times, including the key instruments (open market operations, standing facilities, reserve requirements, and the collateral framework).
2014
Level: advanced
Monetary Policy Operations and the Financial System
The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies.
2018
Level: advanced
The Microeconomics of Complex Economies
Financial Evolution at the Speed of Thought A new evolutionary explanation of markets and investor behaviorHalf of all Americans have money in the stock market yet economists can t agree on whether investors and markets are rational and efficient as modern financial theory assumes or irrational and inefficient as behavioral …
2017
Level: advanced
Adaptive Markets
One of the most authoritative authors on the intellectual heritage of John Maynard Keynes, Robert Skidelsky draws a sketch of the great man's economic thinking both accessible and insightful.
2010
Level: beginner
Keynes: A Very Short Introduction
Based on a clear conceptual framework and ten flexible building blocks this handbook offers refreshing ideas and practical suggestions to stimulate student engagement and critical thinking across a wide range of courses Drawing on decades of ideas on how to improve economics education and a growing number of available alternative …
2021
Level: beginner
Economy Studies
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 …
2020
Level: beginner
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?
2020
Level: beginner
Thirlwalls Law Introduction
The term "de-risking" can be seen as one element of a strategy aimed at discursively reframing the trade policy confrontation with China. This confrontation has mainly been driven by the US in recent years and received initially cautious, but later growing support from the EU.
2023
Level: beginner
De-risking, de-coupling, de-globalization?
In this book, the authors, Cinzia Aruzza, Tithi Bhattcahrya, and Nancy Fraser, move away from the myopic view of feminism for a select few to focus on a universal idea of feminism.
2019
Level: beginner
Feminism for the 99 Percent
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
2022
Level: beginner
Decolonial Marxism
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 which suggests 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.
2011
Level: beginner
Tax Havens - Investigating International Finance
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.
2012
Level: beginner
Capital controls - Investigating International Finance, Episode 2
Steve Keen discusses DSGE modeling and microfoundations by asking the question if it is ideologically possible to derive macroeconomics from microeconomics.
2013
Level: advanced
Discussing DSGE
The website contains a vast amount of information on the history of economic thought. It presents thinkers, their main works (and links to those works) and schools of thought which are sorted by political economy schools, neoclassical schools, alternative schools as well as thematic schools.
Level: advanced
The history of economic thought website
Snow removal, ambulance transport, and school performance -the film aims at illustrating the principles of gender mainstreaming through concrete examples.
2014
Level: beginner
Sustainable Gender Equality - a film about gender mainstreaming in practice
What is “equitable growth” and how do we measure it? A better understanding of equitable growth—and how to measure it—can improve our understanding, inform decisions and lead to better outcomes for all.
2017
Level: beginner
Why current definitions of family income are misleading, and why this matters for measures of inequality
This presentation looks at the basic idea of Marxism, specifically the conflict between the different classes in society.
2013
Level: beginner
A Brief Introduction to Marxism
Robert Costanza briefly present various methods of environmental valuation, and talks about the changes in the global value of ecosystem services. He then introduces the major ecosystem services, and how different methods of valuation affect the preferred policies to address environmental issues.
2014
Level: advanced
Robert Costanza: Ecosystem Service Valuation
In this short video behavioural economist, Dan Aerily talks about how our cognitive illusions will trick us into believing something that is otherwise deemed irrational by the homo economicus. It raises and probes into some very interesting questions that defy the neoclassical rational behaviour.
2009
Level: beginner
Are we in control of our decisions?
Quinn Slobodian a historian of modern Germany and international history analysis of current development in the Mont Pèlerin Society and therefore neo-liberalism. He sees neo-liberalist thinkers less as believers in the self-healing power of markets, but more as ordo-liberal Globalists who wanted to protect the markets from post-war politics and especially mass democracy. Their goal of global capitalism is still strong, however sceptics in the Mont Pèlerin Society are rising, which see international migration as a threat to Globalisation. Therefore, turning neo-liberal policies away from international institutions like the EU back towards the national states as new defenders of the markets as well as international trade and investments. (A development which can be seen in the Friedrich A. von Hayek-Gesellschaft and especially in the "liberal" wing of the German rightwing populist party AfD)
2019
Level: advanced
Neo-liberal Globalism and the Backlash from Within
Inequality is an issue we all face every day, from income disparities to gender discrimination. In this first lecture in the Institute for New Economic Think...
2020
Level: beginner
Inequality 101 with Branko Milanovic & Arjun Jayadev
How long the COVID-19 crisis will last, and what its immediate economic costs will be, is anyone's guess. But even if the pandemic's economic impact is contained, it may have already set the stage for a debt meltdown long in the making, starting in many of the Asian emerging and developing economies on the front lines of the outbreak.
2020
Level: beginner
The COVID-19 Debt Deluge
In this interview Mariana Mazzucato talks about economic actions governments need to take facing the Corona-crisis. Using the example of Britain, she argues that governmental bailouts need to be bound to commitment to sustainability.
2020
Level: beginner
Mariana Mazzucato on New Economic Approaches
In this podcast 'How Economic Theory and Policy Reinforce Racism' William Spriggs, the AFL-CIO’s chief economist, discusses the inadequacies of the pandemic economic rescue package and the influence of mainstream economic theory. He further explores how mainstream economic theory continues to fail everyone, especially Black communities, by disregarding history.
2020
Level: beginner
How Economic Theory and Policy Reinforce Racism

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