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This collection of essays, a supplement to History of Political Economy, brings together prominent scholars from economics, sociology, literature, and history to examine the role of biography and autobiography in the history of economics. The first of its kind, this volume looks at the relevance of first-person accounts to narrative histories of economics.
Economists' Lives
This open access book presents an alternative to capitalism and state socialism through the modelling of a post-market and post-state utopia based on an upscaling of the commons, feminist political economy and democratic and council-based planning approaches.
Make Capitalism History
Covering Institutionalist, Post-Keynesian, Marxist, and Feminist perspectives, Heterodox Economics of Military Spending provides a comprehensive analysis of the effect of military expenditures on the economy.The impact of military spending on economic growth has always been a crucial issue for policymakers and academics. There exists an extensive body of literature on how military spending affects macroeconomic variables, including but not limited to economic growth, profit rates, income inequality, gender inequality, and employment.
Heterodox Economics of Military Spending
Dirk Bezemer exemplary presents pattern of the U.S. economy before the 2007 economic crisis and explains how due to those pattern the crisis could have been, unless not precisely predicted, yet anticipated.
Prof Dirk Bezemer on 2007/2008 Financial Crisis
What is money and how is it used? After answering these questions, Dirk Bezemer analyses how finance can be dysfunctional for the real economy.
When is Finance Bloated and Dysfunctional?
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.
Resistance
Multimedia dossier on unpaid labor (featuring the UK statistics office unpaid work calculator), migrant care labor and feminist political economy more generally.
Housework – I-PEEL.org
This course introduces students to the relevance of gender relations in economics as a discipline and in economic processes and outcomes. The course covers three main components of gender in economics and the economy: (1) the gendered nature of the construction and reproduction of economic theory and thought; (2) the relevance and role of gender in economic decision-making; and (3) differences in economic outcomes based on gender. We wil touch on the relevance of gender and gender relations in at least each of the following topics: economic theory; the history of economic thought; human capital accumulation; labor market discrimination; macroeconomic policy, including gender budgeting; household economics; basic econometrics; and economic crises.
Gender Relations and 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.
New thoughts on capital in the twenty-first century
Based on a critique on econometric and DSGE models (in particular in the context of the financial crisis), Doyne Farmer presents his current research programme that aims at building an agent-based model of the financial and economic crisis. It models heterogeneous agents and from there simulates the economy, firstly for the housing market. The interview gives a short insight in the research programme.
Macroeconomics From the Bottom Up
In this keynote lecture during the conference „The Spectre of Stagnation? Europe in the World Economy“, Till van Treek presents research on how changes in income distribution lead to macroeconomic instability and crisis, focusing on currents accounts. Treek presents the relative income hypothesis in contrast to other mainstream and Post-Keynesian explanations. The relative income hypothesis proposes that aggregate demand increases and savings decrease with rising personal income inequality due to upward looking status comparison – but effects depend on the quantile where income inequality increases. Treek points to the importance of accounting for both income and functional income distribution and underlines his arguments with data comparing different pattern in Germany and the U.S.
Macroeconomics of inequality & instability - Inequality, imbalances and the crisis
The dossier first discusses the impact of colonialism on introducing foreign plants and thus disrupting ecosystems. Subsequently the case of the knotweed, a plant introduced from Japan to the UK and now considered a threat to biodiversity is explored. The complex economy built around the plant consisting of regulations, pesticides, experts, and landowners is then explored.
Knotweed – I-PEEL.org
The dossier explores the nature of care work and the gendered constructions and dichotomies that are associated with it. Drawing from feminist analysis the double burden, the undervaluation of feminised labour, the commodification of affective labour and the remittance economy are inquired into. Moreover, it is discussed how welfare regimes rely on the different organization of care work.
Care – I-PEEL.org
How did economic growth become paramount as the public policy objective? Peter Victor discusses the role of growth within institutions, asks if it is possible to imagine a degrowth economy and discusses the role of grass-root movements.
Ecological Economics
Trickle Down Economics - an old topic, but still present in our lives. The idea consists of deregulation of the economy and of lower tax for the top in order to increase the "size of the pie" so everybody would have a bigger piece, even with a smaller share.
A critique to Trickle-down economics
In order to describe the global structure of the monetary and financial system and its effects on the global economy, most economics textbooks rely on unappropriated theories that provide nothing but outdated descriptions. In this talk, key speakers in economics, economic history and banking try to make this complex system a little more understandable by relying on real-world insights.
Global Money: Past, Present, Future
This infographic gives a summary of the 2018 Trade Wars. This simple, compiled overview is suitable for those without a strong political or economic background.
The infographic explains briefly basic concepts related to trade and provides a short timeline of events. It furthermore checks Trump administration's arguments to launch the the trade war against facts and estimates of how the 2018 trade war can affect the global and North-American economy.
2018 Trade Wars Infographic
In this blog article Steve Keen elaborates on flawed climate change modelling and mainstream economics forecasts. In specific, he stresses the climate change forecasts of the DICE model (“Dynamic Integrated model of Climate and the Economy”) by Nobel Memorial Prize in Economic Sciences winner William Nordhaus.
The Cost of Climate Change
This Blog Post describes the U.S. federal reserve money system from the perspective of the Modern Monetary Theory (MMT). Therefore it presents a theory of money creation, gives simple examples how this influences the economy and the historical process of why the monetary system of the US has developed this way.
An Introduction in the Federal Reserve Money system
Prof. Yanis Varoufakis talks in this introductory lecture about the future of our economy and the current state of economics with special regard to pluralism in economics.
Introduction to Pluralism in Economics - From an Economics-without-Capitalism to Markets-without-Capitalism
Dani Rodrik, Professor of International Political Economy at Harvard's Kennedy School of Government, is teaching in this online session about the global rules under which the modern (free trade-focused) type of globalization operates and why, under such institutions, international community fails to deal with the climate change and pandemics.
Pandemics, Climate Change, and Global Economics: Where Did We Go Wrong in Globalization?
In this episode of Jacobin radio, James K. Galbraith elaborates on the economic policies for the corona crisis, and Aaron Benanav on the crisis of unemployment. James K Galbraith also discusses why the economy as currently organized has been unable to deal with the challenges of the pandemic.
Jacobin Radio: economic policies for the corona crisis
In this virtual teach-in, radical economists David McNally (author of the essential Global Slump) and Hadas Thier (author of the forthcoming A People’s Guide to Capitalism) will try to help activists make sense of the twists, turns, and sudden collapses in the world economy that have been playing out in the background during this global health emergency.
Microbes and Macroeconomics: Understanding the Pandemic and the Global Slump
Could working less make people and the planet better off? Find out in this dossier by exploring the landscape of working time reduction policies and their potential for reimagining, restructuring, and redistributing time as a political resource in the 21st century economy.
Could Working Time Reduction Policies Save People and the Planet?
This paper surveys the development of the concept of socialism from the French Revolution to the socialist calculation debate. Karl Marx’s politics of revolutionary socialism led by an empowered proletariat nurtured by capital accumulation envisions socialism as a “top-down” system resting on political institutions, despite Marx’s keen appreciation of the long-period analysis of the organization of social production in the classical political economists. Collectivist thinking in the work of Enrico Barone and Wilfredo Pareto paved the way for the discussion of socialism purely in terms of the allocation of resources. The Soviet experiment abandoned the mixed economy model of the New Economic Policy for a political-bureaucratic administration of production only loosely connected to theoretical concepts of socialism. The socialist calculation debate reductively recast the problem of socialism as a problem of allocation of resources, leading to general equilibrium theory. Friedrich Hayek responded to the socialist calculation debate by shifting the ground of discussion from class relations to information revelation
Socialist alternatives to capitalism I: Marx to Hayek
Sustainable Development has become dominant in policy debates in the last two decades. Standard models in neoclassical economics as taught in undergraduate classes fail to capture the complex relationships between the economy and the environment.
Using Academic Travel to Teach Sustainable Economic Development
The authors analyse the role and effects of the US dollar as factual global reserve currency. They demonstrate that a flight into the dollar creates adverse effects for the global economy as it represents a tightening of financial conditions.
Dollar dominance and the international adjustment to global risk
In this piece Alexander Kravchuk gives an overview over the history of dept dependency in Ukraine, highlighting especially the role of international creditors and the negative socio-economic impacts of debt dependency for the Ukrainian economy.
The origins of Ukraine’s debt dependence
Cédric Durand locates the Russian War on Ukraine in relation to Russian Economic Development and Political Economy after the collapse of the soviet union.
Cold Peace
Complexity economics and institutional economics are complementary approaches to studying the economy. They can pool their methods and foundational theories to explain the mechanisms that underlie economies.
The complimentary relationship between institutional and complexity economics
In this video, Clara Mattei investigates the function of austerity in relation the stabilization of capitalism as a form of social order build around private property, wage labor and class relations. In order to develop this argument, she situates austerity in the history of World War 1 and its revolutionary aftermath. Zooming in on the politicization of the economy and the associated threat to class society that emerged in the period, she highlights how austerity was a „tool of reaction“ that was successful in curtailing demands for economic democracy and a society free from class oppression.
The Capital Order - How Economists Invented Austerity & Paved the Way to Fascism
Macroeconomics 101 by the Pan African Feminist Political Economy Collective NAWI explains in an accessible way, why macroeconomics matters in our daily lives.
Macroeconomics 101
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