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The Austrian School of Economics is an intellectual tradition in economics and political economy dating back to Carl Menger in the late-19th century. Menger stressed the subjective nature of value in the individual decision calculus. Individual choices are indeed made on the margin, but the evaluations of rank ordering of ends sought in the act of choice are subjective to individual chooser.
The productive work of widely distributed academic research has contributed substantially, over the postwar period, to important advances in our understanding. It has also offered a clearer recognition of many unresolved problems. Never theless, the progress achieved over the last decades, ex hibited by the systematic application of "theory" to actual issues and observable problems, could not overcome a per vasive sense of dissatisfaction.
This is a great book Against the background of the dogmatism of much of modern economics Fullbrook has produced an innovative wide ranging argument for narrative pluralism The timely book is beautifully written accessible to all provocative extraordinarily insightful and extremely compelling Tony Lawson Cambridge University UK This fascinating and …
The Elgar Companion to Neo-Schumpeterian Economics surveys the achievements of the most visible scholars in this area. The contributions to the Companion give both a brief survey on the various fields of neo-Schumpeterian economics as well as insights into recent research at the scientific frontiers.
Examine what would happen if we were to deploy blockchain technology at the sovereign level and use it to create a decentralized cashless economy. This book explains how finance and economics work today, and how the convergence of various technologies related to the financial sector can help us find solutions to problems, such as excessive debt creation, banks getting too big to fail, and shadow banking.
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 …
Mr Minsky long argued markets were crisis prone His moment has arrived The Wall Street Journal In his seminal work Minsky presents his groundbreaking financial theory of investment one that is startlingly relevant today He explains why the American economy has experienced periods of debilitating inflation rising unemployment and marked …
Human Rights Economics strives for an economic system that is just for people and respectful of the planet that promotes social and economic justice that integrates a plurality of views and traditions and that is human rights consistent in both its processes and outcomes It posits that economics is blind …
"Stabilise, liberalise and privatise" has, since the debt crisis of the early 1980s, been the mantra chanted at developing countries by international financial institutions, donor countries and newspaper columnists with quasi-religious conviction.
Leigh Phillips and Michal Rozworski examine the apparent contradiction between the demise of real-existing socialism and the rise of large corporations engaging in planning every day, making a strong argument that these planning efforts should be transformed to now fulfil the needs of the people.
Surviving the Future is a story drawn from the fertile ground of the late David Fleming's extraordinary 'Lean Logic: A Dictionary for the Future and How to Survive It'. That hardback consists of four hundred and four interlinked dictionary entries, inviting readers to choose their own path through its radical vision. Recognizing that Lean Logic's sheer size and unusual structure can be daunting, Fleming's long-time collaborator Shaun Chamberlin has selected and edited one of these potential narratives to create Surviving the Future. The content, rare insights, and uniquely enjoyable writing style remain Fleming's, but are presented here at a more accessible paperback-length and in conventional read-it-front-to-back format
This book provides a comprehensive description of this intriguing new area of feminist economics. It includes discussion of what constitutes feminist economics and how feminist economics is different from other approaches
This course offered by the International Monetary Fund (IMF) on edX provides an introduction in the major econometric tools used in standard Macroeconomics.
Imperialism is not only about military force and political pressure applied by developed capitalist countries on less developed ones for economic gain It also has an everyday dimension Countless acts of production and consumption the current SUV boom being a prominent example draw on exploitation of resources and labour from …
From Marketisation to Armed Conflict Since 1991 nominally independent Ukraine has been in turmoil with the Orange Revolution and the Maidan protests marking its most critical moments Now its borders are threatened and the civil unrest and armed conflict continue to destabilise the country In order to understand these dramatic …
The text presents a short perspective of International Political Economy, which "have often sought to complement discussions of governance with a healthy dose of critique", on resistance against e.g. economic inequality or economic and political power.
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.
Mark Blyth criticises the political inability to solve the persistent economic crisis in Europe against the background of a deflationary environment. Ideological blockades and impotent institutions are the mutually reinforcing causes of European stagnation. The deeper roots lie in the structural change of the economic system since the 1980s, when neoliberalism emerged as hegemonic ideology. This ideology prepared the ground for austerity and resulting deflationary pressures and a strategy of all seeking to export their way out of trouble. Worryingly this is breeding populist and nationalist resentments in Europe.
In this short Video Silke Helfrich discusses the basics of commons. It’s an introduction into the essence of commons from a perspective stemming from outside the economic discipline that focuses on social practice. Her perception challenges the economic mainstream’s perception of common goods and goes beyond a purely materialistic conceptualisation of commons.
James Robinson gives in this talk a short introduction into the theory and ideas of his popular book "Why Nations Fail" which was published together with D. Acemoglu in 2012. With many real-life examples he gives a lively description on the fundamentals for economic success from an institutionalist view. According to Robinson, the nature of institutions is a crucial factor for economic success. Whether institutions are inclusive (such as in prosperous economies) or extractive (poor economies) stems from the nation's political process and the distribution of political power.
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.
This paper investigates how the concept of public purpose is used in Modern Monetary Theory (MMT). As a common denominator among political scientists, the idea of public purpose is that economic actions should aim at benefiting the majority of the society. However, the concept is to be considered as an ideal of a vague nature, which is highly dependent on societal context and, hence, subject to change over time. MMT stresses that government spending plans should be designed to pursue a certain socio-economic mandate and not to meet any particular financial outcome. The concept of public purpose is heavily used in this theoretical body of thought and often referred to in the context of policy proposals as the ideas of universal job guarantee and banking reform proposals show. MMT scholars use the concept as a pragmatic benchmark against which policies can be assessed. With regards to the definition of public propose, MMT scholars agree that it is dependent on the social-cultural context. Nevertheless, MMT scholars view universal access to material means of survival as universally applicable and in that sense as the lowest possible common denominator.
In this one-on-one interview, co-host Gerardo Serra talks with Felwine Sarr, author of Afrotopia (2016) and professor of economics at Gaston Berger University in Senegal. Topics include the relevance (or lack thereof) of development economics to conditions in African economies, the significance of African philosophy for thinking about the economic problems of the continent, and the status of the field of history of economic thought in Africa.
This brief note explores the possibility of working towards an enlarged self-definition of economics through economists’ study and appreciation of economic sociology. Common ground between economic sociology and heterodox economics is explored, and some of Richard Sennett’s ideas are used as prompts to raise some pertinent and hopefully interesting questions about economics. In particular, the note revisits the question of whether there is a possibility of changing our understanding of what kind of social scientific work falls within the domain of economics proper once we start critically engaging with work conventionally considered to be outside of that domain. In part, the note is intended to offer undergraduate students in economics – and possibly even those further down the road in their education – food for thought about what constitutes economics.
In this course we will critically analyze both economic theory and economic life through the lens of gender. Topics covered include: a critical examination of gender patterns and trends in the household, labor market, and the firm; issues concerning gender inequalities in the economy.
"Energy issues have always been important in international relations, but in recent years may have become even more important than in the past due to the widespread awareness of existing limits to energy sources and negative climate impacts. The course discusses global trends in energy consumption and production, various available scenarios for potential developments in the coming decades, the availability of oil reserves and the evolution of the oil industry. It then discusses natural gas and highlights the differences between oil and gas. It will also discuss renewable energy sources, nuclear energy and EU energy policy.
The course aims at providing students whose main interest is in international relations a background on energy resources, technology and economic realities to allow them to correctly interpret the political impact of current developments. It also aims at providing students, who already have a technical background in energy science or engineering, with the broad global view of energy issues that will allow them to better understand the social, economic and political impact of their technical knowledge."
This course will cover recent contributions in economic history that, using geospatial data from anthropological maps, colonial archives and secondary sources, will explore current economic and development challenges by drawing parallels between the past and present.
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.
Understanding Capitalism: Competition, Command, and Change is an introduction to economics that explains how capitalism works, why it sometimes fails, and how it undergoes and brings about change. It discusses both the conventional economic model and the role of power in economic interactions.
Readers of economic and political theory as well as students of economic planning will appreciate this classic, now available for the first time in English. Written eighty years ago, when Sorel became disillusioned with the official socialism of the German and French Marxist parties, this new translation presents Sorel's analysis of the rise and fall of the two great modern ideologies: socialism and liberal capitalism.
In this classic work of economic history and social theory, Karl Polanyi analyzes the economic and social changes brought about by the "great transformation" of the Industrial Revolution.
A collection of the prolific economist's essays written since 1990, in sections on history of economic thought, methodology of economics, economics of education, cultural economics, and book reviews. Subjects include the work of Adam Smith, Hayek, and Keynes, the economic case for subsidies for the arts, the historiography of economics, and education and the employment contract. Annotation copyright by Book News, Inc., Portland, OR
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