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Why do we think that sovereign debt must be repaid--even after a major regime change--in order to maintain country creditworthiness? In a fascinating and highly original book, Odette Lienau argues that this conventional wisdom is overly simplistic and in some respects entirely wrong. 2014 Level: beginner Rethinking Sovereign Debt Lienau, Odette Harvard University Press Jo Michell discusses some key implications of climate change regarding the standard policy prescriptions of Post-Keynesian economics, particularly relating to the possible necessity of consumption constraints and the presence of recurrent inflation. 2022 Level: beginner Macroeconomic Policy Coordination: A New Approach for the End of Abundance Jo Michell Hans-Böckler-Stiftung Big challenges lie ahead for our society: increased automation of work, and the threat of catastrophic climate change. But so, too, are the huge possibilities presented by new technology and better ways of organising our economy in the wake of neoliberalism's failure. 2018 Level: advanced Economics for the Many John McDonnell Verso Books Three dominant forces worldwide are driving change today in our financial markets: competition, technology and regulation. But their collective impact in reshaping the markets, though they may be viewed individually as desirable or well-intentioned, is producing challenging results that are difficult to predict, hard to control and not easy to understand. 2013 Level: advanced Rethinking Regulatory Structure Robert A. Schwartz, John Aidan Byrne, Gretchen Schnee Springer 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. 2013 Level: advanced Microeconomics in Context Neva R. Goodwin, Jonathan M. Harris, Julie A. Nelson, Brian Roach, Mariano Torras Routledge This video provides a brief introduction to post-keynesian economics and how the school of thought would tackle climate change. 2020 Level: beginner Clips on Climate: Postkeynesian Economics Henrika Meyer Rethinking Economics South Africa’s taxi industry was established by black people in the 1930s and has faced numerous challenges, including those posed by decades of apartheid laws. Covid-19 has highlighted contemporary challenges facing the industry and has also raised questions about how it can keep ‘driving forward’. This podcast explores questions such as what changes need to be made, and who can be the ‘drivers’ of such change. 2021 Level: advanced Driving Forward Social and Solidarity Economy: The Case of South Africa's Taxi Industry Maria Fustic, Georgia Pagiavla, Paloma Chuquín Alarcón, Jing-Syuan Wong, Georgia Pagiavla, Paloma Chuquín Alarcón, Jing-Syuan Wong Exploring Economics The piece describes some of the effects that Nixon's decision to delink the dollar from gold in the 1970s had for the relationship between the IMF and its member states. A focus is on the negative effects of this change on societies in the Global South. 2021 Level: beginner Nixon’s decision to delink the dollar from gold still hounds the IMF, South Africa and Africa Danny Bradlow The Conversation Although money plays a key role in our lives, the workings of our monetary system are a mystery to most of us. ‘The Waterworks of Money’ by cartographer Carlijn Kingma is an attempt to demystify the world of big finance. It visualizes the flow of money through our society, its hidden power made manifest. If you see money as water, our monetary system is the irrigation system that waters the economy. The better the flow, the more prosperous society will be. Just as water makes crops thrive, so money sets the economy in motion. Or at least that’s the idea. In reality, inequality is growing in many countries and people are dealing with a ‘cost of living crisis’. Meanwhile, the progress with making our economies sustainable is stalling, and financial instability remains an ongoing threat. These problems cannot be seen in isolation from the architecture of our money system. If we truly want to tackle them, we will have to address the design flaws of our current money system. For more info check: https://www.waterworksofmoney.com or https://www.carlijnkingma.com For the Dutch version of the animation check: https://www.ftm.nl/waterwerk Current exhibitions: 'The Future of Money' at Kunstmuseum Den Haag, 14 April, 2023 - 8 September 2023. 'Plumbing The System' at the Dutch Pavilion of the Venice Biennale, 20 May 2023 - 26 November 2023 The second animation video of this series will be released in September 2023. The Waterworks of Money is a collaboration of cartographer Carlijn Kingma, investigative financial journalist Thomas Bollen, and professor New Finance Martijn van der Linden. Kingma spent 2300 drawing hours, based on in-depth research and interviews with more than 100 experts –ranging from central bank governors and board members of pension funds and banks to politicians and monetary activists. The structure of our monetary system is not a natural phenomenon. We can choose to change its architecture. Designing the money system– and the laws and institutions that govern it–is ultimately a democratic task, and not a commercial or technocratic one. In practice, however, there is a major obstacle impeding the democratic process: financial illiteracy. By making finance and money needlessly complex, economists, bankers and tax specialists have turned most of us into ‘financial illiterates’. Everyone who doesn’t speak their financial jargon is excluded from the democratic debate on how our monetary system should work. The Waterworks of Money bypasses the financial jargon. It is an attempt to boost systemic financial literacy. Only if ordinary citizens develop their own vocabulary to participate in the debate about their financial future, can they tell their politicians which kind of ‘financial irrigation system’ they want. Authors: Carlijn Kingma, Thomas Bollen, Martijn Jeroen van der Linden Animation: Tiepes, Christian Schinkel, Cathleen van den Akker Narrator: Loveday Smith Translation: Erica Moore Voice recording: Huub Krom Music and sound: Rob Peters Photography: Studio OPPA Partners: Follow the Money, De Haagse Hogeschool, Stimuleringsfonds Creatieve Industrie, Brave New Works, Rabobank, Kunstmuseum Den Haag, Rijksmuseum Twenthe 2023 Level: beginner The Waterworks of Money   Carlijn Kingma In this essay, the author takes a critical perspective on the pursuit of growth as the solution for providing for environmental sustainability and economic stability in the countries of Central and Eastern Europe. Drawing from the framework of dependency theory and presenting brief insights into European core-periphery relations the author then argues for the implementation of an alternative strategy to development that is built around the concept of self-reliance. 2018 Level: advanced Dependency in Central and Eastern Europe - Self-reliance and the need to move beyond economic growth Simon Schoening Exploring Economics As opposed to the conventional over-simplified assumption of self-interested individuals, strong evidence points towards the presence of heterogeneous other-regarding preferences in agents. Incorporating social preferences – specifically, trust and reciprocity - and recognizing the non-constancy of these preferences across individuals can help models better represent the reality. 2019 Level: advanced A fresh perspective to economic theory: Social preferences and their impact on gender and policy Sheral Shah Exploring Economics An essay of the writing workshop on Nigeria’s Readiness for and the Effect of the Fourth Industrial Revolution 2020 Level: advanced The Role of Women in the Fourth Industrial Revolution Damilola Phebean Owasanoye Exploring Economics How can we establish new institutions and practices in order to use fare-free public transport as a beacon for sustainable mobility and a low-carbon lifestyle? The author of this essay elaborates on how practice theory and institutional economics can help to answer this question. 2018 Level: advanced Towards a practice of fare-free sustainability Roxana Erath Exploring Economics 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. 2018 Level: beginner What economics education is missing: The real world Stephan Pühringer, Lukas Bäuerle Institute of Economics and Philosophy Cusanus Hochschule The Philosophy of Economics Foundational Text provides a systematic and well-structured overview over the field of philosophy of economics. 2023 Level: beginner Philosophy of Economics Milena Dehn, Ella Needler and Jessica Palka Exploring Economics This essay draws on several analyses on the gender impact of the recession and of austerity policies, in which authors acknowledge a threat to women’s labour market integration and a potential backlash to traditional gender labour structures. We contribute to that literature by asking whether recession and austerity convey a gender effect on educational attainment. Our aim in this essay is to portray the likely effects of austerity measures on gender equality with a focus on women’s participation in tertiary education and to hypothesize the implications of these scenarios for labour market effects, to be tested in future empirical research. 2017 Level: beginner The impact of Austerity on Gender in Tertiary Education: A Theoretical Analysis Zeynep M. Nettekoven and Izaskun Zuazu Exploring Economics In this overview paper, Laura Porak reviews the history of industrial policy in the European Union before the background of a Cultural Political Economy approach. 2023 Level: beginner History of Industrial Policy in the EU Laura Porak Exploring Economics This chapter by the Centre of Economy Studies provides a map through the complex jungle of economic theories. It provides key insights and ideas for thirteen core topics in economics, organised by selecting the most relevant theoretical approaches per topic and contrasting them with each other. 2021 Level: beginner Pragmatic Pluralism Sam de Muijnck and Joris Tieleman Economy Studies This text provides an easy to understand introduction to complexity economics for non-specialist audiences such as bachelor's students. 2023 Level: beginner Think Complexity Economics is too Complicated? Then this is for you. Dennis Venter, Arpitha Varma Exploring Economics This text summarizes the content of the 2018 Nobel Prize winner W. Nordhaus. It is extended by some critical perspectives on this topic. The short dossier gives an overview of the most important texts we have read in the climate economics reading group. 2018 Level: beginner Climate Economics and the DICE Model William D. Nordhaus and Paul Romer Exploring Economics What made the false assumption that saving the economy at all cost during a pandemic so popular? This paper discusses different pathways through the COVID-19 pandemic at national and international level, and their consequences on the health of citizens and their economies. 2021 Level: beginner How not to save the economy? The interplay of economics and health during the COVID-19 pandemic Vera Leuner, Navaneeth M S, Leandro Pereira Monteiro, Eduardo Lacerda Camargo Bisneto Exploring Economics In parallel to rising inflation numbers, the concept of profit inflation has clearly risen to prominence in recent years. But what is it exactly? This dossier aims not only to collect the most important publications on profit inflation but also intends to map out the development of the discourse and the different positions within the debate. 2024 Level: advanced Profit Inflation: Mapping the debate Theresa Walter Exploring Economics 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. 2017 Level: beginner Who cares? A convergence of feminist economics and degrowth Jannis Eicker, Katharina Keil Exploring Economics Is degrowth bad economics To properly answer this question it is essential to understand what economic growth really is The term growth is often associated with an increase in wealth a term loosely defined but according to the degrowth movement economic growth is a narrower concept only describing an increase … 2022 Level: beginner Is prosperous degrowth feasible? Timothée Parrique aliveintheanthropocene.world In this essay the authors take a look at how welfare could be provided in a degrowth society. 2019 Level: beginner Bidding farewell to growth: How to provide welfare in a degrowth society Johanna Hopp and Laura Theuer Exploring Economics The objective of the course is to explore the main strengths and weaknesses of orthodox and heterodox paradigms within development economics. 2019 Level: beginner Issues in Development Economics Hannah Bargawi SOAS University of London Post-Keynesians focus on the analysis of capitalist economies, perceived as highly productive, but unstable and conflictive systems. Economic activity is determined by effective demand, which is typically insufficient to generate full employment and full utilisation of capacity. Post-Keynesian Economics     This lecture is based on the “Introducing the Economy” chapter from the Economy Studies book, which introduces the first building block in their framework for transforming the economics education. The aim is to give students a feel and understanding of the economy as part of a bigger whole. Thus, it is aimed to introduce to students before getting into the economics curriculum with theory and models. 2022 Level: beginner Introducing the Economy   Economy Studies An essay of the writing workshop on Nigeria’s Readiness for and the Effect of the Fourth Industrial Revolution 2020 Level: advanced The Role of Women in the Fourth Industrial Revolution Peter Ogundairo Exploring Economics This chapter by the Centre for Economy Studies explores how courses on the history of economic thought and methods could look if they were pluralist and interdisciplinary. 2021 Level: beginner Rethinking the History of Economic Thought & Methods Sam de Muijnck and Joris Tieleman Economy Studies The last 15 years have seen extensive research into ecosystem service valuation (ESV), spurred by the Millenium Ecosystem Assessment in 2005 (Baveye, Baveye & Gowdy, 2016). Ecosystem services are defined as “the benefits people obtain from ecosystems” (Millenium Ecosystem Assessment, p.V). For example, ecosystems provide the service of sequestering carbon which helps regulate the climate. Valuation means giving ecosystems or their services a monetary price, for example researchers have estimated that the carbon sequestration services of the Mediterranean Sea is between 100 and 1500 million euros per year. The idea of ESV was a response to the overuse of natural resources and degradation of ecosystems, allegedly due to their undervaluation and exclusion from the monetary economy. ESV can be used (1) for policy decision-making, for example allocating funding to a reforestation project (2) for setting payments to people who increase ecosystem services, for example a farmer increasing the organic carbon content of their soil, and (3) for determining fees for people who degrade ecosystem services, for example a company that causes deforestation. 2021 Level: beginner A Pluralist Perspective on Ecosystem Service Valuation Introduction Maya Exploring Economics Fabian Georgi analyses how migration and borders are connected to capitalism. 2024 Level: beginner Recruiting skilled labour, while closing borders? The connection between migration, border regimes and capitalism Fabian Georgi Exploring Economics

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