1264 results
Economist and politician Costas Lapavitsas: presents differing theoretical definitions of financialization, namely from Marxist and Post-Keynesian thinkers and compares their approaches. By presenting pattern and features of the economic and financial crisis, he interprets the latter as a crisis of financialization. Lapavitsas emphasizes his arguments by presenting data from the U.S. and Germany on the transformation of business, banks and households.
The Financialisation of Capitalism
Modern authors have identified a variety of striking economic patterns, most importantly those involving the distribution of incomes and profit rates. In recent times, the econophysics literature has demonstrated that bottom incomes follow an exponential distribution, top incomes follow a Pareto, profit rates display a tent-shaped distribution. This paper is concerned with the theory underlying various explanations of these phenomena. Traditional econophysics relies on energy-conserving “particle collision” models in which simulation is often used to derive a stationary distribution. Those in the Jaynesian tradition rely on entropy maximization, subject to certain constraints, to infer the final distribution. This paper argues that economic phenomena should be derived as results of explicit economic processes. For instance, the entry and exit process motivated by supply decisions of firms underlies the drift-diffusion form of wage, interest and profit rates arbitrage. These processes give rise to stationary distributions that turn out to be also entropy maximizing. In arbitrage approach, entropy maximization is a result. In the Jaynesian approaches, entropy maximization is the means.
The Econ in Econophysics
Explore the pressing topic of globalisation and how it affects economics, politics and society with this online course.
International Affairs: Globalisation
Imperialism is not only about military force and political pressure applied by developed capitalist countries on less developed ones for economic gain It also has an everyday dimension Countless acts of production and consumption the current SUV boom being a prominent example draw on exploitation of resources and labour from …
The Imperial Mode of Living
An analysis of the modern neoliberal world, its characteristics, flaws and planetary boundaries aiming to end new economic politics and support a global redistribution of power, wealth and roles.
In this online lecture, economist and Professor at the School of Oriental and African Studies (SOAS), London, UK. Costas Lapavitsas, explains the limitations of the neoliberal market in creating financial stability and growth in both, developing and developed countries.
The Limits to Neoliberalism: how states respond to the crisis
Geographical economics starts from the observation that economic activity is clearly not randomly distributed across space. This revised and updated introduction to geographical economics uses the modern tools of economic theory to explain the who, why and where of the location of economic activity. The text provides an integrated, first-principles introduction to geographical economics for advanced undergraduate students and first-year graduate students, and has been thoroughly revised and updated to reflect important developments in the field, including new chapters on alternative core models and policy implications.
The New Introduction to Geographical Economics
The most successful multialternative theories of decision making assume that people consider individual aspects of a choice and proceed via a process of elimination. Amos Tversky was one of the pioneers of this field, but modern decision theorists – most notably Neil Stewart – have moved things forward. At the current stage the theories are able to explain a number of strictly ‘irrational’ but reasonable quirks of human decision making, including various heuristics and biases. Not only this, but eye movements of participants strongly imply that the decision-making process depicted in the theories is an accurate one.
The Quirks of Human Decisions, Explained
In a span of around 12 weeks, the course covers a wide range of topics including agent-based modeling, networks, dynamic, chaos, information, fractals, cooperation models and scaling in biology and society. The course acts as a perfect beginner level introduction spanning a wide range of topics in the field of complexity.
Introduction to Complexity
In this ambitious and impressive new book, journalist Howard French seeks to excavate the long elided central importance of the African continent as the “linchpin of the machine of modernity.” In the story of modernity, he writes, the role of Africa is diminished, trivialized, and erased, and by filling in some gaps in this story, he retells the story of modernity.
Born in Blackness
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 argues that our dominant economic narrative—rooted in private property, competition, growth for growth’s sake, and the assumption that self-interest drives progress—has led humanity and the planet into an existential crisis.
Economics for the People
Rethinking Regulation of International Finance encapsulates the most important aspects of the development and operation of the international financial system. This book questions the fundamental basis of the existing international financial architecture (soft law) and explores the need for a compliance-based model based on legitimacy of regulations and accountability of the regulatory bodies in international financial stability.
Rethinking Regulation of International Finance
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
This is an online panel and discussion on the ongoing and potential gendered impacts of COVID-19 organized by the International Association of Feminist Economics (IAFFE).
Feminist Economics Perspectives on COVID-19
This book is a collection of articles on topics and individuals within the history of heterodox economic thought, approached from a heterodox perspective. The principal topics are the nature and scope of economics as an intellectual venture.
Essays in the History of Heterodox Political Economy
By the end of this course, students should understand the basic economic theories of the gender division of labor in the home and at the workplace, and theories of gender differences in compensation and workforce segregation.
Economics of Gender (Woman in the U.S: Economy)
Mainstream textbooks present economics as an objective science free from value judgements; that settles disputes by testing hypotheses; that applies a pre-determined body of principles; and contains policy prescriptions supported by a consensus of professional opinion.
The economics anti-textbook
In this lecture Ben Fine aims at stimulating interest for and explaining the relevance of Marxist Political Economy. Ben Fine dedicates the first half of his comprehensible lecture to the question on how mainstream economics became the way it is by explaining its key concepts and how those evolved during the past 150 years. While critically reflecting those concept he also emphasizes that mainstream economics does not consider historical processes. This is the point of departure on his presentation of the core terms and crucial categories of Marxist Political Economy: e.g. the production process and class relations (Part 1). Part 2 examines the consequences of the capitalist mode of production and its propensity to crises. Ben Fine illustrates this Marxist analysis with the example of the current crisis and explains current conditions for the accumulation of capital.
Introduction to Marxist Economics (Part 2)
In this lecture Ben Fine aims at stimulating interest for and explaining the relevance of Marxist Political Economy. Ben Fine dedicates the first half of his comprehensible lecture to the question on how mainstream economics became the way it is by explaining its key concepts and how those evolved during the past 150 years. While critically reflecting those concept he also emphasizes that mainstream economics does not consider historical processes. This is the point of departure on his presentation of the core terms and crucial categories of Marxist Political Economy: e.g. the production process and class relations (Part 1). Part 2 examines the consequences of the capitalist mode of production and its propensity to crises. Ben Fine illustrates this Marxist analysis with the example of the current crisis and explains current conditions for the accumulation of capital.
Introduction to Marxist Economics (Part 1)
This fresh and unique textbook provides students and general readers with an introduction to economics from a new and much needed perspective, characterised by its uniquely pluralist, sustainable, progressive and global approach.
Unlike traditional textbooks, Introducing a New Economics contains the key concepts of pluralism, sustainability and justice. It provides students with the central questions covered by economics including resources, work, employment, poverty, inequality, power, capital, markets, money, debt and value.
Introducing a New Economics
From the mercantile monopolies of seventeenth-century empires to the modern-day authority of the WTO, IMF, and World Bank, the nations of the world have struggled to effectively harness globalization's promise. The economic narratives that underpinned these eras the gold standard, the Bretton Woods regime, the "Washington Consensus" brought great success and great failure.
The Globalization Paradox
This is a great book Against the background of the dogmatism of much of modern economics Fullbrook has produced an innovative wide ranging argument for narrative pluralism The timely book is beautifully written accessible to all provocative extraordinarily insightful and extremely compelling Tony Lawson Cambridge University UK This fascinating and …
Narrative Fixation in Economics
Making sense of economists and their world in a persuasive and entertaining style, Arjo Klamer, shows that economics is as much about how people interact as it is about the models, the mathematics, the econometrics, the theories and the ideas that come from the enormous aggregate of economics literature. Knowing and understanding economics requires both bookwork and mingling with other economists.
Speaking of Economics
This classic text offers a broader intellectual foundation than traditional principles textbooks. It introduces students to both traditional economic views and their progressive critique.
Economics
After completing the workshop in Post Keynesian Economics participants should be able to describe the main differences and similarities between PKE and other schools of thought.
Post Keynesian Economics
On this episode of the Hayek Program Podcast, Professor Roger Koppl talks with Hayek Program Research Fellow Solomon Stein about his research on experts, evolution, and the dynamics of epistemics, his career, and in what future direction(s) he thinks Austrian economics will go.
Austrian Epistemics
With the collapse of the planned economies of Eastern Europe, the market is extending its reach and at the same time claiming its universal applicability. But this is occurring while paradoxically it is becoming more difficult to define "the market". The authors, all outstanding scholars in the booming field of socio-economics, explore how concrete markets are built up and stabilized.
Laws of the Markets
Work defines who we are It determines our status and dictates how where and with whom we spend most of our time It mediates our self worth and molds our values But are we hard wired to work as hard as we do Did our Stone Age ancestors also live …
Work
More than a century after Hartley Withers's "The Meaning of Money" and 80 years after Keynes's "Treatise on Money", the fundamentals of how banks create money still needs explaining and this book meets that need with clear exposition and expert marshalling of the relevant facts.
Where Does Money Come From?
This book is intended as a textbook for a course in behavioural economics for advanced undergraduate and graduate students who have already learned basic economics. The book will also be useful for introducing behavioural economics to researchers. Unlike some general audience books that discuss behavioural economics, this book does not take the position of negating traditional economics completely.
Behavioral Economics
In this clear and accessible book, an eminent political scientist offers a jargon-free introduction to the market system for all readers, with or without a background in economics
The Market System
Getting to the policy discussion table is one of the objectives pursued by feminist scholars and advocates. However, some participants in this process have remarked that “you cannot get to the policy discussion table until you have proven that you can crunch the numbers.”
Statistics for Feminists
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