1344 results
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.
A fresh perspective to economic theory: Social preferences and their impact on gender and policy
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 paper attempts to clarify how the European economic crisis from 2007 onwards can be understood from the perspective of a Marxian monetary theory of value that emphasizes intrinsic, structural flaws regarding capitalist reproduction. Chapter two provides an empirical description of the European economic crisis, which to some extent already reflects the structural theoretical framework presented in chapter three. Regarding the theoretical framework Michael Heinrich's interpretation of 'the' Marxian monetary theory of value will be presented. Heinrich identifies connections between production and realization, between profit and interest rate as well as between industrial and fictitious capital, which represent contradictory tendencies for which capitalism does not have simple balancing processes. In the context of a discussion of 'structural logical aspects' of Marx's Critique of the Political Economy, explanatory deficits of Heinrich's approach are analyzed. In the following, it is argued that Fred Moseley's view of these 'structural logical aspects' allows empirical 'applications' of Marxian monetary theories of value. It is concluded that a Marxian monetary theory of value, with the characteristics of expansive capital accumulation and its limitations, facilitates a structural analysis of the European economic crisis from 2007 onwards. In this line of argument, expansive production patterns are expressed, among other things, in global restructuring processes, while consumption limitations are mitigated by expansive financial markets and shifts in ex-port destinations.
The European economic crisis from 2007 onwards in the context of a global crisis of over-production of capital - a Marxian monetary theory of value interpretation
What are the implications of the politics of "behavioural change"? Alexander Feldmann took a closer look for you on nudging and framing and if this is a legitimate instrument being used by the state to make us behave better in terms of our carbon footprint.
Politics as supermarket? Or how current policy design changes the relationship between the state and its citizens
One method of economic modelling that has become increasingly popular in academia, government and the private sector is Agent Based Models, or ABM. These simulate the actions and interactions of thousands or even millions of people to try to understand the economy – for this reason ABM was once described to me as being “like Sim City without the graphics”. One advantage of ABM is that it is flexible, since you can choose how many agents there are (an agent just means some kind of 'economic decision maker' like a firm, consumer, worker or government); how they behave (do they use complicated or simple rules to make decisions?); as well as the environment they act in, then just run the simulation and see what happens as they interact over time.
Agents, agents everywhere
This article is the first of a series that offers a new paradigm for economics, the “multilevel paradigm,” using generalized Darwinism as its theoretical framework. Generalized Darwinism refers to all processes that combine the ingredients of variation, selection, and replication – not just genetic evolution – making it relevant to the cultural evolution of economic systems that are embedded in political, social, and environmental systems.
Rethinking the Theoretical Foundation of Economics I: The Multilevel Paradigm
Economics is extremely sick. It is so locked in its past that nearly all of its introductory textbooks are modelled on one that appeared in 1948. The discipline cannot continue in its autistic state much longer.
Real World Economics
This book tells the story of the search for disequilibrium micro-foundations for macroeconomic theory, from the disequilibrium theories of Patinkin, Clower and Leijonhufvud to recent dynamic stochastic general equilibrium models with imperfect competition.
Transforming Modern Macroeconomics
This syllabus provides an overview of the contents of the course "Understanding Economic Models" at the University of Helsinki.
Understanding Economic Models
What does it mean that gender is performative? In this short video, Judith Butler illustrates that gender is a culturally formed norm that is permanently produced and reproduced.
Your Behavior Creates Your Gender
Tom Palley provides a very clear and insightful description of the post-Keynesian school of economics by tracing back its connections to the different historical schools of thought.
Post-Keynesian Economics through the Lens of History of Thought - Introductory lectures on heterodox economics
The course will teach students to analyze the goals, implementation, and outcomes of economic policy.
Advanced Economic Policy
Au début des années 2020, le consensus de la Silicon Valley se délite. Inégalités folles, stagnation de la productivité, instabilité endémique... la nouvelle économie n’est pas advenue. Les algorithmes sont omniprésents, mais ce n’est pas pour autant que le capitalisme s’est civilisé. Au contraire. La thèse de ce livre est qu’avec la digitalisation du monde se produit une grande régression. Retour des monopoles, dépendance des sujets aux plateformes, brouillage de la distinction entre l’économique et le politique
Techno-féodalisme
"Change the system, not the climate" is a common demand in the climate movement. But what kind of system do we want?
Outgrow the System
How can we shape urban development towards sustainable and prosperous futures This course will explore sustainable cities as engines for greening the economy We place cities in the context of sustainable urban transformation and climate change Sustainable urban transformation refers to structural transformation processes multi dimensional and radical change that …
Greening the Economy: Sustainable Cities
The course will teach students to analyze the goals, implementation, and outcomes of economic policy.
Advanced Economic Policy 2
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.
How not to save the economy? The interplay of economics and health during the COVID-19 pandemic
What determines the status of women in different communities? What role is played by women’s labor (inside and outside of the home)? By cultural norms regarding sexuality and reproduction? By racial/ethnic identity? By religious traditions? After some brief theoretical grounding, this course will address these questions by examining the economic, political, social, and cultural histories of women in the various racial/ethnic groups that make up the US today.
Political Economy of Women
L’économiste américain d’origine russe Hyman Minsky accordait une place centrale à la finance dans le fonctionnement des économies capitalistes. Cent ans après sa naissance, la crise de 2008-2009 remet en avant ses analyses de l’instabilité financière et ses pistes de réflexion sur les mécanismes qui pourraient la contenir.
Hyman Minsky : un économiste visionnaire
First the global mean is calculated from a matrix of three sets each containing three observations. Then the sum of squares is calculated. Lastly, the concept of degree of freedom is explained.
ANOVA 1: Calculating SST (total sum of squares)
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
This essay deals with the concepts of Sustainable Land Management (SLM) and Land Degradation Neutrality (LDN).
The importance of a Land Degradation Neutrality approach to achieving Sustainable Land Management
What are the debates, feminist and otherwise, surrounding the phenomena of globalization? How does a gendered lens complicate our understandings of neoliberal globalization? How are particular labor regimes integral to global restructuring, and how are these gendered? What are the implications of global restructuring for bodies, identities, relations, and movements?
The Gender and Labor of Globalization
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
What does political economy say about the global sugar production? Take a look at global trade regulations, intercountry inequalities, and the role of marketing.
Global sugar production - regulations, intercountry inequalities, and marketing
Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
A Time for Precaution
This course provides future change makers in public and private sectors with a comprehensive overview on the structures and actors that shape markets.
The Governance of Markets in Challenging Times: From Classic Authors to New Approaches
Balance of payments stability is of paramount importance for developing countries, both to secure the value of their domestic currencies as well as reliable foreign currency inflows. But how is that stability ensured and how important is the growth of exports for stability?
Thirlwalls Law Introduction
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, an open-access e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
Time to Ditch the NAIRU
p>Twenty-first-century economists will have to understand and improve a post-Cold War world in which no single economic theory or system holds the key to human betterment. Heterodox economists have much to contribute to this effort, as a wave of pluralism spawns new lines of research and new dialogues among non-mainstream economists.
Future Directions for Heterodox Economics
"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.
The Resistible Rise of Market Fundamentalism
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