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Evolutionary economics focuses on economic change. Hence processes of change such as growth, innovation, structural and technological change, as well as economic development in general are analysed. Evolutionary economics often gives emphasis to populations and (sub-)systems.
The core idea of ecological economics is that human economic activity is bound by absolute limits. Interactions between the economy, society and the environment are analysed, while always keeping in mind the goal of a transition towards sustainability.
This course is an introduction to Development Economics and is concerned with how economists have sought to explain how the process of economic growth occurs, and how – or whether – that delivers improved well-being of people.
L’économie évolutionniste se focalise sur le changement économique. En conséquence, sont analysés des processus de changement tels que la croissance, l’innovation, le changement technologique et structurel, ou encore le développement économique en général. L’accent est mis sur les populations et les (sous-)systèmes.
L’école autrichienne se focalise sur la coordination économique des individus dans une économie de marché. Elle met l’accent, entre autres choses, sur l’individualisme, le subjectivisme, la politique de laissez-faire, l’incertitude et le rôle de l’entrepreneur.
This text provides an easy to understand introduction to complexity economics for non-specialist audiences such as bachelor's students.
Sabel and Zeitlin present the persistence of small firms in Europe against the rise of mass production and modern enterprises Their article starts by analysing how mass production can be considered a historical necessity for the classical view as it is a highly specialized structure where man and machine can …
The Atlas of Economic Complexity is an award-winning data visualization tool that allows people to explore global trade flows across markets, track these dynamics over time and discover new growth opportunities for every country.
The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies.
Economic development is a process of continuous technological innovation and structural transformation. Development thinking is inherently tied to the quest for sustainable growth strategies. This book provides a neoclassical approach for studying the determinants of economic structure and its transformation and draws new insights for development policy.
One of the worlds leading economists of inequality, Branko Milanovic presents a bold new account of the dynamics that drive inequality on a global scale. Drawing on vast data sets and cutting-edge research, he explains the benign and malign forces that make inequality rise and fall within and among nations.
Until the end of the early 1970s, from a history of economic thought perspective, the mainstream in economics was pluralist, but once neoclassical economics became totally dominant it claimed the mainstream as its own. Since then, alternative views and schools of economics increasingly became minorities in the discipline and were considered 'heterodox'.
Readers of economic and political theory as well as students of economic planning will appreciate this classic, now available for the first time in English. Written eighty years ago, when Sorel became disillusioned with the official socialism of the German and French Marxist parties, this new translation presents Sorel's analysis of the rise and fall of the two great modern ideologies: socialism and liberal capitalism.
In the late nineteenth and early twentieth centuries, Bombay was beset by crises such as famine and plague. Yet, rather than halting the flow of capital, these crises served to secure it. In colonial Bombay, capitalists and governors, Indian and British alike, used moments of crisis to justify interventions that delimited the city as a distinct object and progressively excluded laborers and migrants from it.
In this book, the author critically examines a number of socialist proposals that have been put forward since the end of the Cold War. It is shown that although these proposals have many merits, their inability effectively to incorporate the benefits of information technology into their models has limited their ability to solve the problem of socialist construction. The final section of the book proposes an entirely new model of socialist development, based on a "needs profile" that makes it possible to convert the needs of large numbers of people into data that can be used as a guide for resource allocation. This analysis makes it possible to rethink and carefully specify the conditions necessary for the abolition of capital and consequently the requirements for socialist revolution and, ultimately, communist society.
A comprehensive textbook on contemporary Global Political Economy and its historical evolution providing a broad-ranging and even-handed introduction to the subject by covering traditional elements (such as trade and finance) while also analysing issues such as gender, environment and labour.
Adam Smith and Karl Marx recognized that the best way to understand the economy is to study the most advanced practice of production. Today that practice is no longer conventional manufacturing: it is the radically innovative vanguard known as the knowledge economy.
In analyzing the global competition between Chinese and Indian tea, Andrew B. Liu challenges past economic histories premised on the technical “divergence” between the West and the Rest, arguing instead that seemingly traditional technologies and practices were central to modern capital accumulation across Asia.
The idea of a Green New Deal was launched into popular consciousness by US Congressperson Alexandria Ocasio-Cortez in 2018. Evocative of the far-reaching ambitions of its namesake, it has become a watchword in the current era of global climate crisis. But its new ubiquity brings ambiguity: what - and for whom - is the Green New Deal?
This course covers recent advances in behavioral economics by reviewing some of the assumptions made in mainstream economic models, and by discussing how human behavior systematically departs from these assumptions.
This course teaches basic concepts relevant in political economy. Topics include the contractual nature of the state, public versus private goods, property rights and economic externalities, the logic of collective action and social choice theory. It also refers to the fundamentals of political philosophy, bringing two ideas of liberty into the picture. The relevance and limitations of the economic approach to the study of law and politics are then discussed.
Big challenges lie ahead for our society: increased automation of work, and the threat of catastrophic climate change. But so, too, are the huge possibilities presented by new technology and better ways of organising our economy in the wake of neoliberalism's failure.
Approaching the law of nature that determines all forms of economy. The bulk of economic theory addresses the economic process by setting out on a catalogue of aspects, seeking the laws in the aspects and hoping to get together a reliable view of the whole.
Stiglitz answers the question why globalization and world trade has not delivered on its promise of increased well being as much as classical economists thought, by pointing to the power asymmetries: firstly, between industrialized nations and developing nations and secondly, between special corporate interest and social interests. In his analysis, developed countries and MNCs were able to extract the benefits, while shifting the costs (i.e. pollution) to states and communities with lesser power. Amongst many other historical examples the pharmaceutical and the mining industry are discussed to some length.
Ha Joon Chang exposes the main ideas of his book Bad Samaritans, namely that historically states have developed and industrialized by making policy interventions related to industry protection, tariffs and subsidies and not by opening their markets to free trade. Chang elaborates on the examples of Japan, the US, Singapore and Germany amongst others to show that an interventionist path to development has been the regularity and not an anomaly. In the end of the lecture, he argues that they idea of a level playing field should be replaced by a trade order that accounts for differences in power and economic capacities of different countries. The last 20 minutes are questions and answers.
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.
In 18th century Europe figures such as Adam Smith, David Ricardo, Friedrich List and Jean Baptiste Colbert developed theories regarding international trade, which either embraced free trade seeing it as a positive sum game or recommended more cautious and strategic approaches to trade seeing it as a potential danger and a rivalry and often as a zero-sum game. What about today?
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.
How did the industrialized nations of North America and Europe come to be seen as the appropriate models for post-World War II societies in Asia, Africa, and Latin America? How did the postwar discourse on development actually create the so-called Third World? And what will happen when development ideology collapses? To answer these questions, Arturo Escobar shows how development policies became mechanisms of control that were just as pervasive and effective as their colonial counterparts.
Reflecting his own concerns about the contribution economics could make to the betterment of society, Eli Ginzberg published this study of Smith's humanitarian views on commerce, industrialism, and labor. Written for his doctoral degree at Columbia University, and originally published as The House of Adam Smith, the book is divided into two parts.
An essay of the writing workshop on contemporary issues in the field of Nigerian economics: In Nigeria, it appears that there is nothing in the constitution, which excludes the participation of women in politics. Yet, when it comes to actual practice, there is extensive discrimination. The under-representation of women in political participation gained root due to the patriarchal practice inherent in our society, much of which were obvious from pre-colonial era till date.
Since 2007, central banks of industrialized countries have counteracted financial instability, recession, and deflationary risks with unprecedented monetary policy operations. While generally regarded as successful, these measures also led to an exceptional increase in the size of central bank balance sheets. The book first introduces the subject by explaining monetary policy operations in normal times, including the key instruments (open market operations, standing facilities, reserve requirements, and the collateral framework).
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