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The economic crisis is also a crisis for economic theory. Most analyses of the evolution of the crisis invoke three themes, contagion, networks and trust, yet none of these play a major role in standard macroeconomic models. What is needed is a theory in which these aspects are central. 2011 Level: advanced Complex Economics Alan Kirman Routledge In analyzing the global competition between Chinese and Indian tea, Andrew B. Liu challenges past economic histories premised on the technical “divergence” between the West and the Rest, arguing instead that seemingly traditional technologies and practices were central to modern capital accumulation across Asia. 2020 Level: advanced Tea War Andrew B. Liu Yale University Press This book is about history of monetary economic thought. From the 18th century with Hume and Smith to the early 20th, the author explains the different schools of thought regarding the monetary theories and policies and specially the central banking theory. 2012 Level: advanced Monetary Theory and Policy from Hume and Smith to Wicksell Arie Arnon Cambridge University Press Thomas Piketty's Capital in the 21st century is presented and the central argument that capital returns have historically exceeded growth rates, thus exacerbating inequality is illustrated. 2015 Level: beginner An Introduction to Thomas Piketty's Capital in the 21st Century- A Macat Economics Analysis   Macat Environmental catastrophe looms large over politics: from the young person’s climate march to Alexandria Ocasio-Cortez’s Green New Deal, increasing amounts of political space are devoted to the issue. Central to this debate is the question of whether economic growth inevitably leads to environmental issues such as depleted finite resources and increased waste, disruption of natural cycles and ecosystems, and of course climate change. Growth is the focal point of the de-growth and zero-growth movements who charge that despite efficiency gains, increased GDP always results in increased use of energy and emissions. On the other side of the debate, advocates of continued growth (largely mainstream economists) believe that technological progress and policies can ‘decouple’ growth from emissions. 2020 Level: beginner To Grow or Not to Grow? Cahal Moran Rethinking Economics The economist Thomas Piketty presents a central argument of his book Capital in the Twenty-First century: if the rate of return to capital generally exceeds an economy's growth rate, this leads to a higher concentration of wealth in the long run. He furthermore shows with historical data how wealth and income inequality increased within the past decades. 2014 Level: advanced New thoughts on capital in the twenty-first century Thomas Piketty TED Talks Sheila Dow discusses the concept of radical uncertainty and the failure of neoclassical economics to integrate it into its analysis. As to the implications for financial regulation that arise from the presence of radical uncertainty she argues for institutional overhaul, where the banks see themselves as a licensed partner of the central bank and where rules, values, and conventions would be subject to a cultural shift. Also, Sheila Dow advocates for a renewed focus on retail banking. 2015 Level: advanced The Economics of Uncertainty Sheila Dow INET John K. Galbraith tells the economic history of a couple of economies (mostly UK, US and to a lesser extent Germany) from the end of the first world war until the Bretton Woods conference. He also provides a biography of John M. Keynes and outlines some central ideas of Keynes such as the possibility of an underemployment equilibrium. Galbraith complements the historical remarks by the biographical experiences he made in economic management (and in engaging with Keynes) serving as deputy head of the Office for Price administration during the second world war. 1977 Level: beginner The Age of Uncertainty Episode 7 The Mandarin Revolution John Kenneth Galbraith BBC, CBC, KCET and OECA 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 The world is coping with a global disaster, as the new Coronavirus takes a toll on many lost lives and a severe impact on economic activity. To provide a long-run perspective, this column documents the international response to a variety of disasters since 1790. Based on a new comprehensive database on loans extended by governments and central banks, official (sovereign-to-sovereign) international lending is much larger than generally known. Official lending spikes in times of global turmoil, such as wars, financial crises or natural disasters. Indeed, in these periods, official capital flows have repeatedly surpassed total private capital flows in the past two centuries. Wars, in particular, were accompanied by large surges in the volume of official cross-border lending. 2020 Level: advanced Coping with disasters: Lessons from two centuries of international response Sebastian Horn, Carmen Reinhart, Christoph Trebesch VOX CEPR Policy Portal For some days, global financial markets are in turmoil. Central banks and governments are dealing with the unfolding crisis on a daily basis with seemingly u... 2020 Level: beginner Replay of the financial crisis of 2008? What is different today, and what to expect? Adam Tooze & Gerhard Schick Finanzwende "Bank Underground" is the staff blog of the Bank of England, founded to publish the views and insights of the people working for one of the world's oldest central banks. The blog covers a wide range of macroeconomic topics, mostly linked to the effects of monetary policy, of course, but not all the time. It provides timely, relevant analysis of contemporary challenges in economic policy and is thus often a perfect primer. Level: advanced Bank Underground Various staff of the 'Old Lady in Threadneedle Street' Bank of England staff blog 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. 2016 Level: beginner Reproductive Labour and Care Exploring Economics Exploring Economics Understanding international trade is central to economics and is currently a hot political issue. It’s an area where popular perceptions of mainstream economics are low, since they have historically missed some important downsides of trade agreements, especially the hollowing out of former manufacturing hubs in the Western world. et economists have for long time had a theory of trade with an impressive amount of scientific clout behind it: the gravity trade model. 2020 Level: beginner A Theory of Enormous Gravity Cahal Moran Rethinking Economics Kareem Megahed, Omar Ghannam and Heba Khalil, from Post-Colonialisms Today, provide insights on the early post-independence industrialization project in Egypt, in which the state played a central coordinating role. 2020 Level: advanced Lessons for Today from Egypt’s Post-Independence Industrialization Kareem Megahed, Omar Ghannam, and Heba Khalil Post-Colonialisms Today: postcolonialisms.regionsrefocus.org This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. 2016 Level: advanced A History of Macroeconomics from Keynes to Lucas and Beyond Vroey, Michel de Cambridge University Press Thirty-years of economic transformation has turned China into one of the major players in the global capitalist economy. However, its economic growth has generated rising problems in inequality, alienation, and sustainability with the agrarian crises of the 1990s giving rise to real social outcry to the extent that they became the object of central government policy reformulations. 2015 Level: advanced Social Economy in China and the World Ngai Pun, Ben Hok-bun Ku, Hairong Yan, Anita Koo Taylor & Francis Ltd Foreign exploitation of economic crises in the developing world has been a central claim of neoliberal critics. This important and recurring international theme is the subject of closer scrutiny in this new collection, where contributors offer competing interpretations of the interaction between international and domestic forces after crises. 2008 Level: advanced Power and Politics after Financial Crises Robertson, Justin Palgrave Macmillan The book’s central theme is to develop a new theory of speculative capital related to other forms of capital, the world market, and the state. Unlike most marxist and heterodox theories, the book distinguishes credit and fictitious capital from speculative capital to show its hegemony today in the capital markets. 2022 Level: advanced Financial Capital in the 21st Century Achim Szepanski Springer Nature Devine begins with an analysis of the theory and practice of capitalist planning, central planning and 'market socialism'. He argues that, while market socialism is currently favoured by many economists who reject both capitalism and the command planning of the Soviet model, it cannot fulfil the promises held out for it. 2022 Level: advanced Democracy And Economic Planning Pat Devine Taylor & Francis Limited Traditionally, economists have attributed consistency and rational calculation to the action of ‘economic man’. In a powerful challenge to orthodox thinking, Geoffrey Hodgson maintains that social institutions play a central and essential role in molding preferences and guiding action: institutions are regarded as enabling action rather than merely providing constraints. 1991 Level: advanced Economics and Institutions Geoffrey M. Hodgson Wiley This groundbreaking collection explores the profound power of Social Reproduction Theory to deepen our understanding of everyday life under capitalism. It tackles issues such as child care, health care, education, family life and the roles of gender, race and sexuality, and shows how they are central to understanding the relationship between economic exploitation and social oppression. Including contributions by: Lise Vogel, Nancy Fraser, David McNally and Susan Ferguson. 2017 Level: advanced Social Reproduction Theory Tithi Bhattacharya Pluto Press Since the Middle Ages, literature has portrayed the economic world in poetry, drama, stories and novels. The complexity of human realities highlights crucial aspects of the economy. The nexus linking characters to their economic environment is central in a new genre, the "economic novel", that puts forth economic choices and events to narrate social behavior, individual desires, and even non-economic decisions. 2018 Level: advanced Economics and Literature Cinla Akdere, Christine Baron Routledge In this ambitious and impressive new book, journalist Howard French seeks to excavate the long elided central importance of the African continent as the “linchpin of the machine of modernity.” In the story of modernity, he writes, the role of Africa is diminished, trivialized, and erased, and by filling in some gaps in this story, he retells the story of modernity. 2021 Level: advanced Born in Blackness Howard W. French Liveright Publishing Corporation Economists occupy leading positions in many different sectors including central and private banks, multinational corporations, the state and the media, as well as serving as policy consultants on everything from health to the environment and security. Power and Influence of Economists explores the interconnected relationship between power, knowledge and influence which has led economics to be both a source and beneficiary of widespread power and influence. 2021 Level: beginner Power and Influence of Economists Jens Maesse, Stephan Pühringer, Thierry Rossier, Pierre Benz Routledge Is or has economics ever been the imperial social science? Could or should it ever be so? These are the central concerns of this book. It involves a critical reflection on the process of how economics became the way it is, in terms of a narrow and intolerant orthodoxy, that has, nonetheless, increasingly directed its attention to appropriating the subject matter of other social sciences through the process termed "economics imperialism". 2009 Level: advanced From Economics Imperialism to Freakonomics Ben Fine, Dimitris Milonakis Routledge

Are humans at their core seekers of their own pleasure or cooperative members of society? Paradoxically, they are both. Pleasure-seeking can take place only within the context of what works within a defined community, and central to any community are the evolved codes and principles guiding appropriate behavior, or morality. 2013 Level: advanced From Pleasure Machines to Moral Communities Geoffrey M. Hodgson University of Chicago Press

What do modern academic economists do? What currently is mainstream economics? What is neoclassical economics? And how about heterodox economics? How do the central concerns of modern economists, whatever their associations or allegiances, relate to those traditionally taken up in the discipline? 2015 Level: advanced Essays on the Nature and State of Modern Economics Tony Lawson Routledge Winner of the Nobel Prize in Economics

Get ready to change the way you think about economics.

Nobel laureate Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans--predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth--and change the way we think about economics, ourselves, and our world. 2016 Level: advanced Misbehaving Richard H. Thaler W.W. Norton In this essay the author outlines the basis for embracing a post-work agenda, rooted in an emancipatory potential from the domination of waged work, which could help answer both feminist and ecological concerns with work. 2018 Level: beginner Towards a post-work future: a necessary agenda to reconcile feminist & ecological concerns with work Emilie Tricarico Exploring Economics This article considers the strengths of agent-based modelling and the ways that it can be used to help central banks understand the economy. These models provide a complement to more traditional economic modelling which has been criticised in the wake of the Great Recession. 2016 Level: advanced Agent-based models: understanding the economy from the bottom up Arthur Turrell Bank of England Industrial policy has been a central part of policy prescription by many heterodox schools arguably since mercantilism, but the theories behind it and types of policy advocated for have evolved over time. Recently some neoclassical economists have shown renewed interest in it, but is this mainstream acceptance a step back or a step forward from earlier heterodox ideas? 2021 Level: beginner Industrial policy Jezri Krinsky blobMetropolis

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