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As the Covid-19 fueled economic downturn begins to intensify this winter, an extended study of the Italian cooperative sector’s historical resilience in times of crisis can serve as a learning experience for other countries seeking to create policies that foster more stable economies, with job security, care for marginalized communities and adequate counter-cyclical policies. Particularly, the Italian cooperative sector’s contributions to three aspects should be noted in closing. Firstly, the innovative phenomenon of cooperative enterprises has contributed to social inclusion of immigrant communities, the activation of youth, the unemployed and people with disabilities, a true compensation for both a market and state failure. Secondly, they have contributed to a reduction in income and wealth inequalities at a time when the issue of inequality is of global significance. Thirdly, the Italian cooperative movement has helped local communities revitalize in the face of demographic shifts and rendered them more resilient to the ravages of globalization. Each of these in their own right is a remarkable achievement.
From the two premises that (1) economies are complex systems and (2) the accumulation of knowledge about reality is desirable, I derive the conclusion that pluralism with regard to economic research programs is a more viable position to hold than monism. To substantiate this claim an epistemological framework of how scholars study their objects of inquiry and relate their models to reality is discussed. Furthermore, it is argued that given the current institutions of our scientific system, economics self-organizes towards a state of scientific unity. Since such a state is epistemologically inferior to a state of plurality, critical intervention is desirable.
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 will 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; economic history; and economic crises.
The course will teach students to analyze the goals, implementation, and outcomes of economic policy.
The course will teach students to analyze the goals, implementation, and outcomes of economic policy.
The premise of this workshop is that we, as knowledge producers - especially within westernized universities (Grosfoguel, 2013), are significantly implicated in neoliberal imaginaries that are often in service of hierarchical, binary, competitive and linear narratives of growth as civilizational progress.
From the perspective of mainstream theory the effectiveness of monetary policy in bringing down inflation depends on two very important equations the aggregate demand equation and the infamous Phillips Curve Without these it becomes more difficult or rather impossible for central banks to carry out monetary policy and obtain the …
Complexity economics focuses on interactions and interdependencies between individuals and structures in economic systems. Those are systems of organised complexity. High importance is given to the analysis of networks.
L’économie de la complexité se focalise sur les interactions et les interdépendances entre les individus et les structures dans les systèmes économiques. L‘économie est vue comme un système complexe qui est toujours dans un état de flux, c‘est-à-dire évoluant et changeant en permanence.
Les post-keynésiens se focalisent sur l’analyse des économies capitalistes, vues comme des systèmes certes hautement productifs mais aussi instables et conflictuels. L‘activité économique y est pour eux déterminée par la demande effective, qui est typiquement insuffisante pour permettre d’atteindre le plein emploi et la pleine utilisation des capacités de production.
The Philosophy of Economics Foundational Text provides a systematic and well-structured overview over the field of philosophy of economics.
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.
The plumbing of the financial system is coming under strain like never before. On this week’s podcast, we speak with two legendary experts on how the money system works: Zoltan Pozsar of Credit Suisse and Perry Mehrling of the Frederick S. Pardee School of Global Studies. They explain the extreme level of stress we’re seeing, what the Fed has done to alleviate, what more needs to be done, and what the post-crisis future may look like.
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.
In this short lecture the marxist economic geographer David Harvey explains how his theory of The accumulation of dispossession came about and its central principles The theory builds on Marx law of the centralisation of capital arguing how the accumulation no longer stems from producing rather through trading asset values …
In the pluralist showcase series by Rethinking Economics, Cahal Moran explores non-mainstream ideas in economics and how they are useful for explaining, understanding and predicting things in economics.
Nathan Tankus created this series to introduce people outside of the inner financial circles of professionals, journalists and policymakers to the basic mechanisms and dynamics of monetary policy.
Institution largement méconnue du grand public la Banque des Règlements Internationaux BRI n en est pas moins un organe central de la réflexion économique Dans cet essai Henri Lepage confronte la thèse de la Stagnation Séculaire chère à Larry Summers et aux économistes néo keynésiens plus largement aux travaux de …
The Money View Symposium was hosted by YSI on 5-7 February, 2021. The Symposium showcased the work of scholars and practitioners that make use of the so-called Money View, ranging from economists to lawyers, politicians and social scientists at large. The symposium aims to illuminate the main tenets of the Money View and to demonstrate its juxtaposition to the mainstream.
The Bank of England s introduction to money in the modern economy is composed by a video and a paper which work hand in hand In them money is presented as a form of debt issued by someone and spent as credit by someone else Furthermore the three main types …
Marx Reloaded is a cultural documentary that examines the relevance of German socialist and philosopher Karl Marx s ideas for understanding the global economic and financial crisis of 2008 09 The crisis triggered the deepest global recession in 70 years and prompted the US government to spend more than 1 …
This section includes selected content from Post-Colonialisms Today - a research and advocacy project recovering insights from the immediate post-independence period in Africa, and mobilizing them through a feminist lens to address contemporary challenges. You will find additional content at postcolonialisms.regionsrefocus.org.
This course introduces students to the relevance of gender relations in economics as a discipline and in economic processes and outcomes.
The goal of the course is to deepen students’ understanding of the Latin American development experience by viewing it through a gender lens.
The podcast is an interview of Silvia Federici by David Denvir. It is centred around her book 'Caliban and the Witch - Women, the Body and Primitive Accumulation', but they also draw lines to contemporary issues and political struggles. Federici analyses the emergence of capitalism through a radical Feminist-Marxist lens.
Aim of this intensive workshop is 1.) to introduce the participants to the macroeconomic workings of the climate crisis as the background of sustainable finance; 2.) to introduce financial assets with ESG (Environmental, Social and Governance) criteria attached to them and their markets and important institutional players; 3.) to provide a critical perspective on the current setup of sustainable finance; 4.) and to work on in-depth case studies illustrating the workings on ESG-finance markets, its emitters and traders as well as their macroeconomic implications.
This thoroughly revised and updated second edition provides a comprehensive guide to Post Keynesian methodology, theory and policy prescriptions. The Companion reflects the challenges posed by the global financial crisis that began in 2008 and by the consolidation of the New Neoclassical Synthesis in macroeconomic theory.
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
"A serious reconsideration of the 'economics of science' is long overdue," say Philip Mirowski and Esther-Mirjam Sent in the introduction to Science Bought and Sold. Indeed, it is only recently that one could speak of a field of economics of science at all.
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.
Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself.
A systematic comparison of the three major economic theories, showing how they differ and why these differences matter in shaping economic theory and practice.
Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories.
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