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As the current economic crisis spreads around the globe questions are being asked about what king of capitalist or post-capitalist economy will follow. There is increasing talk of the need for stringent economic regulation, the need to temper greed and individualism, to make the economy work for human and social development.
The bestselling classic that examines the history of economic thought from Adam Smith to Karl Marx—“all the economic lore most general readers conceivably could want to know, served up with a flourish” (The New York Times). The Worldly Philosophers not only enables us to see more deeply into our history but helps us better understand our own times. In this seventh edition, Robert L. Heilbroner provides a new theme that connects thinkers as diverse as Adam Smith and Karl Marx.
Economics for Emancipation (E4E) is a seven-module introductory curriculum with interactive and participatory workshops. It offers a deep critical dive into the current political economic system, exploration of alternative economic systems, and dynamic tools to dream and build the economy that centers care, relationship, and liberation.
It is perhaps fitting that the seriousness of the coronavirus threat hit most of the Western world around the Ides of March, the traditional day of reckoning of outstanding debts in Ancient Rome. After all, problems and imbalances have accumulated in the Western capitalist system over four decades, ostensibly since it took the neoliberal road out of the 1970s crisis and kept going along it, heedless of the crises and problems it led to.
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.
Firms are the primary places where economic activity takes place in modern capitalist economies: they are where most stuff is produced; where many of us spend 40 hours a week; and where big decisions are made about how to allocate resources. Establishing how they work is hugely important because it helps us to understand patterns of production and consumption, including how firms will react to changes in economic conditions and policy. And a well-established literature – led by post-Keynesians and institutionalists – holds that the best way to determine how firms work is to…wait for it...ask firms how they work. This a clearly sensible proposition that is contested in economics for some reason, but we’ll ignore the controversy here and just explore the theory that springs from this approach.
Economics: A New Introduction provides a fresh introduction to real economics. Highlighting the complex and changing nature of economic activity, this wide-ranging text employs a pragmatic mix of old and new methods to examine the role of values and theoretical beliefs in economic life and in economists understanding of it.
Microeconomics in Context lays out the principles of microeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Macroeconomics in Context, the book is uniquely attuned to economic realities. The "in Context" books offer affordability, accessible presentation, and engaging coverage of current policy issues from economic inequality and global climate change to taxes.
Debunking Economics - Revised and Expanded Edition exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking Economics was published back in 2001, the market economy seemed invincible, and conventional "neoclassical" economic theory basked in the limelight.
Economic development is a process of continuous technological innovation and structural transformation. Development thinking is inherently tied to the quest for sustainable growth strategies. This book provides a neoclassical approach for studying the determinants of economic structure and its transformation and draws new insights for development policy.
This essay suggests to bring together two aspects of economic thought which so far have developed largely separately: degrowth and feminist economics. In this strive, the concept of care work and its role in feminist economics will be introduced and the downsides of the commodification of care work will be discussed. Subsequently, contributions to the discussion on the (re)valuation of care work will be taken into account.
In this essay the authors take a look at how welfare could be provided in a degrowth society.
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.
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.
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.
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
What influence do changes in tax policy or state decisions on expenditure have on economic growth? For decades, this question has been controversially debated.
Though apparently siblings from the same family, New Keynesianism and Post-Keynesianism are completely different schools of economic thought. As to why and in what regard exactly, that is what this book is all about. While the former is the official label of the current mainstream in economic research and teaching (rather than neoclassic economics, which would be more apt a term), the latter tries to preserve the original thinking of John Maynard Keynes, but also additional ideas and concepts of all those building on his work.
"The Company of Strangers: A Natural History of Economic Life" by Paul Seabright is an engaging and informative book that explores the complex relationship between economic behavior and human instincts. Seabright uses real-world examples to present complex ideas in a clear and accessible way. The author argues that the market is not only a place for exchanging goods and services but also relies on trust, cooperation, and social norms.
In this book, Carlota Perez develops her Neo-Schumpeterian concept of "techno-economic paradigms" which captures the patterns underlying the role of technological revolutions in economic development since the Industrial revolution.
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