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1268 results
An essay of the writing workshop on Nigeria’s Readiness for and the Effect of the Fourth Industrial Revolution
The Fourth Industrial Revolution: Economic Impact and Possible Disruptions
If there’s one method economists have neglected the most, it’s qualitative research. Whereas economists favour mathematical models and statistics, qualitative research seeks to understand the world through intensive investigation of particular circumstances, which usually entails interviewing people directly about their experiences. While this may sound simple to quantitative types the style, purpose, context, and interpretation of an interview can vary widely. Because of this variety, I have written a longer post than usual on this topic rather than doing it a disservice. Having said that, examples of qualitative research in economics are sadly scant enough that it doesn’t warrant multiple posts. In this post I will introduce qualitative research in general with nods to several applications including the study of firm behaviour, race, Austrian economics, and health economics. More than usual I will utilise block quotes, which I feel is in the spirit of the topic.
Qualitative Methods in Economics: "You Can Observe a Lot Just by Watching"
This course will introduce key concepts, theories and methods from socioeconomics. The first part of the course, will deal with the main economic actors and how their interactions are governed. Markets are seen as sets of social institutions. Institutions shape how consumers, firms and other economic actors behave. While it is difficult to understand how novelty emerges, we can study the conditions that are conducive to innovation. We will review how economic performance, social progress and human wellbeing are measured and what progress has been made. In the second part of the course, we will study a specific macroeconomic model that accounts for biophysical boundaries and inequality.
Foundations in Socioeconomics
This report by the 'Institute for Global Prosperity' explores the hypothesis that strengthening and extending universal services is an effective way of tackling poverty and improving wellbeing for all.
Universal Basic Services: Theory and Practice
The vast uncertainty surrounding the possible spread of COVID 19 and the duration of the near economic standstill required to combat it make forecasting little different from guessing Clearly this is a whatever it takes moment for large scale outside the box fiscal and monetary policies Carmen M Reinhart Project …
This Time Truly Is Different | by Carmen M. Reinhart
One of the pluralist theories which has gained prominence following the 2008 financial crisis is Hyman Minsky and his Financial Instability Hypothesis (FIH). Minsky was unique in viewing balance sheets and financial flows as the primary components of capitalist economies, and his focus on the financial system meant he was well-equipped for foresee a crisis much like 2008. Although he died long before 2008 his framework anticipated many of the processes which led to the crash, particularly increased risk-taking and financial innovation which would outstrip the abilities of regulators and central banks to manage the system.
Minsky’s Moments
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.
Whither Central Banks?
Racism and discrimination have choked economic opportunity for African Americans at nearly every turn. In From Here to Equality, William Darity Jr. and A. Kirsten Mullen confront these injustices head-on and make the most comprehensive case to date for economic reparations for U.S. descendants of slavery.
From Here to Equality
The goal of this brief report is to put in one place some of the works that have come out of the movement to reform economics education. True to their training, the student movement for pluralism in economics education has been marked by an impressive amount of research: both on economics education itself and on more topical subjects within economics.
Mapping Pluralist Research - An overview of research within the student movement for pluralism in economics
Poster of the different schools of thought made by Sergio A. Berumen. From the Greeks to late 20th and beginning of the 21th century.
General Guide To Schools Of Economic Thought
This module examines current socio-political issues through the lens of pluralism, that is pluralism of theory, pluralism of method and interdisciplinary pluralism
Pluralist Economic Analysis
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.
Profit Inflation: Mapping the debate
Ingrid Harvold Kvangraven digs into the Eurocentric nature of economics and the role dependency theory could play in decolonizing it.
Dependency Theory & the Decolonization of 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.
Introducing the Economy
The Economics and Geopolitics of Russia Selling Yuan and Gold Reserves
It is important for students to understand the workings of international and public finance and that the goal of governments and politicians is not always economic efficiency when making financial decisions. Normative goals other than efficiency can motivate economic decisions. A good economist is able to recognise, clearly name and take into account the values and goals behind economic behaviour, when making sense of the world.
Russia sells foreign reserves
Why has heterodox economics not been more successful in making inroads into the mainstream? And why has “pluralist economics,” the most prominent alternative paradigm to mainstream economics, not been more successful in changing the curriculum?
The Project of Pluralism
Die Volkswirtschafts-Studierenden von heute sind die Entscheidungsträger*innen und Berater*innen von morgen. Und genau diese Studierenden äußern, wie auch andere, schon länger Kritik an der ökonomischen Lehre.
Bereitet die Volkswirtschaftslehre auf das 21. Jahrhundert vor?
Think Academy Think Academy
Complexity Economics
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
This paper presents an inquiry into the observed results when governments have implemented one or other type of (opposed) economic policy prescribed in economics to reverse the consequences of a global economic crisis.
Fiscal austerity vs. expansionary fiscal policy: on the results of these opposed economic policies applied to fight recessions
Este estudio pone al descubierto lo que muchos probablemente hemos sospechado alguna vez y unos pocos economistas llevan sabiendo desde hace tiempo: la teoría económica no sólo es difícil de digerir, sino que además está sencillamente equivocada. Cuando fue publicado en 2001, la economía de mercado parecía invencible y la teoría económica "neoclásica" estaba en el candelero. Steve Keen mantuvo entonces que los economistas no merecían crédito alguno por la aparente buena marcha de las finanzas, y que la falsa confianza en la estabilidad de la economía de mercado había llevado a muchos actores políticos a desmantelar algunas instituciones creadas para mantener la inestabilidad dentro de ciertos límites. La inestabilidad se desbordó con la devastadora crisis financiera que estalló en 2007, y ahora amenaza la economía global con la perspectiva de otra depresión.
En esta nueva edición, puesta al día y considerablemente ampliada, Keen lleva aún más lejos su feroz crítica de la teoría económica convencional, al tiempo que explica lo que la economía dominante no es capaz de explicar: por qué sobrevino la crisis, por qué está demostrando ser inabordable, y qué es lo que hay que hacer para ponerle fin.
La Economía Desenmascarada
La economía poskeynesiana procura analizar las economías capitalistas que se caracterizan por ciertas características distintivas. Las economías capitalistas son economías de producción monetaria en las que los bancos u otras instituciones financieras anticipan dinero (crédito) para que las empresas inviertan en capital físico y mano de obra para producir bienes y servicios.
Economía poskeynesiana
El foco de atención de la investigación que se lleva a cabo en la tradición de las escuelas austriacas reside en investigar la coordinación económica entre los individuos.
Escuela Austriaca
In this book, distinguished economist Edith Kuiper shows us that the history of economic thought is just that, a his-story, by telling the herstory of economic thought from the perspective of women economic writers and economists. Although some of these women were well known in their time, they were excluded from most of academic economics, and, over the past centuries, their work has been neglected, forgotten, and thus become invisible.
A Herstory of Economics
The Wealth of Ideas traces the history of economic thought, from its prehistory (the Bible, Classical antiquity) to the present day.
The Wealth of Ideas
Economic theory must distinguish between publicly owned and privately owned property if it is to account for the effect of institutions on the behavior of individuals. Careful study of the theories of Marxists and the real-world experience in the Soviet economy offer important lessons and insight for economic modeling and the ongoing development of theory. In this course, Marxist/Leninist theory and Soviet reality will be studied with an open mind, and with the goal of taking lessons from the case study. To what extent was the Soviet economy an accurate expression of Marxist theory? If Marxism were tried somewhere else would the results be the same?
Economic History of the Soviet Union
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.
Who cares? A convergence of feminist economics and degrowth
This is an overview of (possibly transformative) proposals to address the economic consequences of the corona crisis
Overview of proposals to combat the economic consequences of the Corona crisis
Recovery from the Covid-19 crisis provides a chance to implement economic measures that are also beneficial from environmental and social perspectives. While ‘green’ recovery packages are crucial to support economies tracking a low-carbon transition in the short-term, green measures such as carbon pricing are also key to improving welfare in the long-term. This commentary specifies the need for carbon pricing, outlines its implications for our everyday lives, and explains how it works alongside value-based change in the context of climate action and societal well-being.
Carbon Pricing: The Key to Open the Way Toward a Sustainable Recovery and Long-Term Wellbeing
Exploring Economics Dossier on the economic fallout of the COVID-19 pandemic and the structural crisis of globalization. COVID-19 encounters a structural crisis of globalization and the economic system that drives it, with an uncertain outcome. We asked economists worldwide to share with us their analysis of current events, long-term perspectives and political responses. The dossier will be continuously expanded.
The Next Great Recession? Exploring Economics Dossier
According to Karl Marx, work should satisfy people and encourage creativity. But the capitalist production, the separation of labour and the exploitation of workers alienates them from their products.
Karl Marx on Alienation
Paul Collier describes the four important topics that he thinks would help the "bottom billion" in the long-run: aid, trade, security and governments. In this short video, Collier explains why he considers government support important.
The "bottom billion"
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