In this new book Smith returns to Solow s classic productivity paradox which essentially states that we can see automation everywhere like the spheres of leisure sociality and politics but not in the productivity statistics He examines why labor saving automation in the service age in the Global North has …

Economics should schematically explain the key elements and main strands of this core part of social life: the actual workings of our economies. This book argues that orthodox, modern neoclassical economics does not fulfil this core task. Standard economics models do not address the real functioning of our market economies, but rather an imagined economy.

Diane Perrons and Sigrid Stagl combine feminist and critical environmental economics perspectives to develop a critique of the free market growth model and offer new ideas for a more sustainable gender equitable model of development in the interests of all.

Homo sapiens is now evolving into post economy The New Economy must manage scarcity and affluence a dual problem that is not integrated into the main classical economic theories There will be an important shock between opulence described by the economist John Kenneth Galbraith in The Affluent Society and scarcity …

By focusing on the human side as well as the intellectual dimensions of how economists work and think, this collection of interviews with top economists of the 20th century becomes a startling and lively introduction to the modern world of macroeconomics.

This interactive and practice-oriented course updated in 2021 covers the basics of Sustainable Finance including sustainable finance instruments, methodologies and frameworks for integrating sustainability into financial decisions, key global sustainable finance initiatives, and sustainable finance regulations.

Well-rounded insights with essay contributions from various perspectives into what it means to decolonize higher education.

Colonialism persists in many African countries due to the continuation of imperial monetary policy. This is the little-known account of the CFA Franc and economic imperialism.

IS-LM is perhaps the prime example of `cognitive dissonance' in economics, and is problematic to many economists. On the one hand, the IS-LM model is still taught by many academic economists or they use it to derive the AD-AS approach. On the other hand, the same economists realize the limitations of the basic IS-LM model and would not now use it for policy analysis, as they did in the past. The distinction between pedagogical and analytical efficacy is made by all the authors in this volume regarding the IS-LM model.

This brief views the environment through diverse lenses – those of standard economics, institutional economics, political science, environmental science and ecology.

To prevent the coronavirus shock to demand precipitating a long-lasting depression, government needs to become short-term payer of last resort.

This essay focuses on the sources of government revenue within the Middle East and North African (MENA) region and proposes the implementation of a regional tax reset through increased taxation and tax reforms, deregulation in the private sector and economic diversification to reduce macroeconomic volatilities caused by the hydrocarbon industry.

Mainstream inflation theories in economics do little to explain the recent acceleration in price increases. The associated economic policy recommendations further increase the misery of low-income groups.

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.

Marx’s theory of the falling rate of profit is not only empirically borne out, but the theory he proposed seems to describe accurately how that happens. Furthermore, the whole process is useful for understanding the history of contemporary capitalism.

As the Covid-19 fueled economic downturn begins to intensify this winter, an extended study of the Italian cooperative sector’s historical resilience in times of crisis can serve as a learning experience for other countries seeking to create policies that foster more stable economies, with job security, care for marginalized communities and adequate counter-cyclical policies. Particularly, the Italian cooperative sector’s contributions to three aspects should be noted in closing. Firstly, the innovative phenomenon of cooperative enterprises has contributed to social inclusion of immigrant communities, the activation of youth, the unemployed and people with disabilities, a true compensation for both a market and state failure. Secondly, they have contributed to a reduction in income and wealth inequalities at a time when the issue of inequality is of global significance. Thirdly, the Italian cooperative movement has helped local communities revitalize in the face of demographic shifts and rendered them more resilient to the ravages of globalization. Each of these in their own right is a remarkable achievement.

This article explores the production function, the prevailing view of capital that underpins it, and the main alternative perspective. By exploring these perspectives, the authors aim to provide students with a foundational understanding of the controversies surrounding the treatment of capital in production, a topic expressly excluded from mainstream textbooks.

John Maurice Clark’s article “The Changing Basis of Economic Responsibility,“ published in the Journal of Political Economy, is the topical starting point for all scholars interested in economic responsibility and responsible economic action.

Adam Smith and Karl Marx recognized that the best way to understand the economy is to study the most advanced practice of production. Today that practice is no longer conventional manufacturing: it is the radically innovative vanguard known as the knowledge economy.