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230 results

2012
Level: beginner
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes: Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments). Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate. Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement. Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market. Part 5) Explores the question if banks create money or just credit and especially refers to credit risks. Part 6) Explains how money gets destroyed when loans are paid back. Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
2021
Level: advanced
The Money View Symposium was hosted by YSI on 5-7 February, 2021. The Symposium showcased the work of scholars and practitioners that make use of the so-called Money View, ranging from economists to lawyers, politicians and social scientists at large. The symposium aims to illuminate the main tenets of the Money View and to demonstrate its juxtaposition to the mainstream.
2009
Level: beginner
The historical situation of low interest rates after the Fed's response to the 2001 crisis alongside with huge foreign money inflow to the US are presented as the historical context in which subprime lending and financial instruments like CDOs and CDS evolved. Then those instruments as well as the concept of leverage are explained briefly.
2015
Level: beginner
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.
2021
Level: beginner
This lecture was held in the context of the a two day conference called Which pluralism for thinking about how to achieve a more sustainable and resilient economy The practices institutions and system logics of today s economy are not suitable for appropriately addressing fundamental human needs The climate crisis …
2021
Level: expert
The world has seen the emergence of a rather different system of international lender of last resort organized as a network of central bank liquidity swap lines largely limited to the core countries of the Global North In this system central banks swap their own currency for dollars which they …
2020
Level: beginner
Modern Monetary Theory (MMT) is a school of monetary and macroeconomic thought that focuses on the analysis of the monetary and credit system, and in particular on the question of credit creation by the state.
2012
Level: beginner
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes: Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments). Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate. Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement. Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market. Part 5) Explores the question if banks create money or just credit and especially refers to credit risks. Part 6) Explains how money gets destroyed when loans are paid back. Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
2012
Level: beginner
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes: Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments). Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate. Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement. Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market. Part 5) Explores the question if banks create money or just credit and especially refers to credit risks. Part 6) Explains how money gets destroyed when loans are paid back. Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
2012
Level: beginner
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes: Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments). Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate. Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement. Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market. Part 5) Explores the question if banks create money or just credit and especially refers to credit risks. Part 6) Explains how money gets destroyed when loans are paid back. Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
2012
Level: beginner
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes: Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments). Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate. Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement. Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market. Part 5) Explores the question if banks create money or just credit and especially refers to credit risks. Part 6) Explains how money gets destroyed when loans are paid back. Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
2012
Level: beginner
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes: Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments). Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate. Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement. Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market. Part 5) Explores the question if banks create money or just credit and especially refers to credit risks. Part 6) Explains how money gets destroyed when loans are paid back. Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
2020
Level: advanced
Richard Werner touches on a number of topics in this Odd Lots Podcast episode. As one of the pioneers when it comes to money and credit creation, he gives interesting insights into his early research on this topic. He then explains what he calls the “Quantity Theory of Credit” and is an alternative to the "Quantity Theory of Money".
2020
Level: beginner
In both economics textbooks and public perceptions central banks are a fact of life. On the wall of my A-level economics classroom there was the Will Rogers quote “there have been three great inventions since the beginning of time: fire, the wheel, and central banking”, summarising how many economists view the institution. There is a widespread belief that there is something different about money which calls for a central authority to manage its operation, a view shared even by staunch free marketeers such as Milton Friedman. This belief is not without justification, since money underpins every transaction in a way that apples do not, but we should always be careful not to take existing institutions for granted and central banking is no exception. In this post I will look at the idea of private or free banking, where banks compete (and cooperate) to issue their own currency.
2017
Level: advanced
For intermediate courses in economics. A Unified View of the Latest Macroeconomic Events Macroeconomics, Blanchard presents a unified, global view of macroeconomics, enabling readers to see the connections between goods, financial markets, and labor markets worldwide.
2016
Level: advanced
In this article, Perry Mehrling, a professor of economics at Barnard College, presents and discusses three theories of banking which are guiding bank regulation. These are credit creation theory, fractional reserve theory and debt intermediation theory.
2017
Level: advanced
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.
2016
Level: advanced
Finance at the Threshold offers a unique perspective from an English economic and monetary historian. In it the author asks: Why did the banks stop lending to one another, and why now? Was it merely a matter of over-loose credit due to the relaxation of traditional prudence, or did global finance find itself at its limits?
2013
Level: beginner
What is money and how does it work? The short film reveals common misunderstandings of where money comes from, explains how money is created by banks and presents consequences of money as credit. The video is part of the campaign positive money, promoting the democratic control over money creation.
2016
Level: beginner
The podcast exposes the concept and principles of co-operatives and the three main types of co-operatives: the consumer, credit and farmers buying and selling co-operatives. Furthermore, the history of the co-operative movement is presented. The authors draw the line from co-operatives to "degrowth" by arguing that these organisations discourage profit maximisation due to their ownership structure, their social purpose and their primacy of people over capital. The value of the members' co-operative share does not increase with the growth of a co-operative and it can not be used for speculation. Finally, the authors give examples for current co-operatives which empower (local) communities fostering social justice and environmentalism.
Level: beginner
In this radio program, the anthropologist David Graeber, explores the history of debt in (currently) 12 episodes. The program is based on his book Debt: The First 5000 Years. First, Graeber asks the questions of how debt and money are characterized, which meaning and roles they had in different historic episodes and how they were interrelated. In the most recent episodes, Graeber elaborates on how debt shaped society. He argues that debt had a different moral status in different times of history, one session analyses the current financial and economic crisis and the role of credit in this historical context.
2017
Level: beginner
A multimedia dossier outlining the various dimensions of credit and indebtedness for various actors such as individuals and governments. Special emphasis is put on the reflections of normative and power laden discourse sorrounding the issue of borrowing and on false analogies placed between household and government debt.
2019
Level: expert
This content submission has two parts: (1) a link to the post by Wolf Richter on deterioration of US subprime credit card debt and loans, driven in part by the overuse of hedonic quality adjustments in the Consumer Price Index (CPI) used by the US Bureau of Labor Statistics, and (2) to introduce Exploring Economics to the website Naked Capitalism, which is an effort to promote critical thinking through the medium of a finance and economics blog and fearless commentary.
2020
Level: advanced
The plumbing of the financial system is coming under strain like never before. On this week’s podcast, we speak with two legendary experts on how the money system works: Zoltan Pozsar of Credit Suisse and Perry Mehrling of the Frederick S. Pardee School of Global Studies. They explain the extreme level of stress we’re seeing, what the Fed has done to alleviate, what more needs to be done, and what the post-crisis future may look like.
Level: beginner
The resource map contains links to a collection of resources related to the circular economy, which include videos, presentations, graphics, business case studies and articles. Many of the resources were created by the Ellen MacArthur Foundation, others are given credit where due.
2019
Level: advanced
Approaching the law of nature that determines all forms of economy. The bulk of economic theory addresses the economic process by setting out on a catalogue of aspects, seeking the laws in the aspects and hoping to get together a reliable view of the whole.
2020
Level: beginner
Economists like to base their theories on individual decision making. Individuals, the idea goes, have their own interests and preferences, and if we don’t include these in our theory we can’t be sure how people will react to changes in their economic circumstances and policy. While there may be social influences, in an important sense the buck stops with individuals. Understanding how individuals process information to come to decisions about their health, wealth and happiness is crucial. You can count me as someone who thinks that on the whole, this is quite a sensible view.
2020
Level: beginner
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.
2021
Level: beginner
How should we discuss welfare when understanding the role of growth and the viability of Growth-led development? One option is to look at subjective happiness. This provides an anti-materialistic view which may superficially appear more compatible with significant reductions in consumption in order to remain within safe ecological limits.
2018
Level: beginner
The global financial crisis (GFC) led to increasing distrust in economic research and the economics profession, in the process of which the current state of economics and economic education in particular were heavily criticized. Against this background we conducted a study with undergraduate students of economics in order to capture their view of economic education.
Level: advanced
Steve Keen provides an alternative view on Macroeconomics before and after the crisis and outlines different macroeconomic fallacies.
2011
Level: beginner
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.

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