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In the interview, Robert Skidelsky discusses the emergence of political influence of a certain school of economic thought and how the success of an economic theory depends on the power relations in the society. He introduces the historical example of Keynesian economics and its replacement by liberal economic theory and policy in the aftermath of the Great Depression, and transfers this historical case to the dominant paradigm of austerity policies in the Europe as response to rising public debts caused by the Financial Crisis. He contrasts austerity policies with a Keynesian approach. Furthermore, he relates the targets of policy to the underlying power structures, for example when not the reduction of unemployment but the protection of financial capital is politically addressed.
Economics and Political Power during the Crisis
This short video visualizes the destabilizing effects financial markets can have on food prices, based on a paper by Jayati Ghosh. It introduces and explains the idea of future contracts and how those are used to speculate with basic food stuffs. After establishing the concepts, the video sketches out how the increase in those practices resulted in a substantial rise and later collapse of food prices around 2008 with severe consequences for many developing countries and their people.
Food and Finance
This book discusses the relationship between pluralist economics and the case study method of teaching, advocating the complimentary use of both to advance economics education. Using a multi-paradigmatic philosophical frame of analysis, the book discusses the philosophical, methodological, and practical aspects of the case study method while drawing comparisons with those of the more commonly used lecture method.
Case Method and Pluralist Economics
Debunking Economics - Revised and Expanded Edition exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking Economics was published back in 2001, the market economy seemed invincible, and conventional "neoclassical" economic theory basked in the limelight.
Debunking Economics - Revised and Expanded Edition
In this course we will critically analyze both economic theory and economic life through the lens of gender. Topics covered include: a critical examination of gender patterns and trends in the household, labor market, and the firm; issues concerning gender inequalities in the economy.
Gender and the Economy
A direct and fundamentally optimistic indictment of the short-sightedness and intellectual arrogance that has characterized much of urban planning in this century, The Death and Life of Great American Cities has, since its first publication in 1961, become the standard against which all endeavors in that field are measured.
The Death and Life of Great American Cities
Following an unprecedented economic boom fed by foreign investment, the Russian Revolution triggered the worst sovereign default in history. Bankers and Bolsheviks tells the dramatic story of this boom and bust, chronicling the forgotten experiences of leading financiers of the age.
Bankers and Bolsheviks
Banner and Pastor debunk granted assumptions of the neoclassical theory, such as self-interested human behavior, the necessity of inequality and growth, to pull the threads between the new possible foundations of our society, "prosperity, security and community".
Solidarity Economics—for the Coronavirus Crisis and Beyond
Value and Crisis brings together selected essays written by Alfredo Saad-Filho, one of the most prominent Marxist political economists writing today. Divided into two parts, "Essays on the Theory of Value" and "Essays on Contemporary Capitalism," this book examines the labour theory of value from a rich and innovative perspective from which fresh insights are derived.
Value and Crisis
Modern Monetary Theory and Practice: An Introductory Text is an introductory textbook for university-level macroeconomics students. It is based on the principles of Modern Monetary Theory (MMT).
Modern Monetary Theory and Practice: an Introductory Text
Derek Neal writes that economists must analyze public education policy in the same way they analyze other procurement problems. He shows how standard tools from economics research speak directly to issues in education. For mastering the models and tools that economists of education should use in their work, there is no better resource available.--
Information, Incentives, and Education Policy
This book analyzes the transition of chocolate from an exotic curiosity to an Atlantic commodity. It shows how local, inter-regional, and Atlantic markets interacted with one another and with imperial political economies. It explains how these interactions, intertwined with the resilience of local artisanal production, promoted the partial democratization of chocolate consumption as well as economic growth.
Empire, Political Economy, and the Diffusion of Chocolate in the Atlantic World
This book provides a new methodological approach to money and macroeconomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental issues of a modern monetary economy, the focus of this book lies on the (stylized) balance sheets of the main actors. Money, after all, is born on the balance sheets of the central bank or commercial bank.
Modern Monetary Theory and European Macroeconomics
What is “equitable growth” and how do we measure it? A better understanding of equitable growth—and how to measure it—can improve our understanding, inform decisions and lead to better outcomes for all.
Why current definitions of family income are misleading, and why this matters for measures of inequality
Yanis Varoufakis, former finance minister of Greece and the co-founder of the international DiEM25 platform, discusses the economic and political impacts of the Covid-19 Pandemic, in particular with regards to the Eurozone and southern European countries.
Coronavirus Economics and the Eurozone
Politicians tell us the UK is “borrowing too much” and faces a “debt crisis.” That’s wrong. The government creates the pounds it spends, and what’s called “borrowing” is really just it accepting deposits — or savings — from the public and financial markets.
Why the UK government can't borrow - and we should not pretend it does
Edited by two of the foremost academics in the field, the volumes comprise insightful and original contributions from scholars across the world. The encyclopaedic breadth and scope of the original entries will make these reference books an invaluable source of knowledge for all serious students and scholars of the history of economic thought.
Handbook on the History of Economic Analysis, Volume 1: Great Economists since Petty and Boisguilbert
In this prescient book, expert contributors from academic and policymaking circles explore dollarization in both theoretical and practical terms.
Central Banking, Monetary Policy and the Political Economy of Dollarization
Devine begins with an analysis of the theory and practice of capitalist planning, central planning and 'market socialism'. He argues that, while market socialism is currently favoured by many economists who reject both capitalism and the command planning of the Soviet model, it cannot fulfil the promises held out for it.
Democracy And Economic Planning
The short clip gives a basic introduction to the concept of the market equilibrium and its graphical representation: taking the example of a market for apples, it presents supply and demand curves as well as scenarios how prices and quantities adapt, leading to an equilibrium.
Market equilibrium | Supply, demand, and market equilibrium | Microeconomics |
This text provides an overview of feminist perspectives on various kinds of work and reproductive labour. The authors start at the intersection of Marxism and Feminism. They, then, give a historical background on the United States feminist movement. They, finally, provide alternative perspectives on work and reproductive labor that are not based on Marxist Feminist theory.
Feminist Perspectives on Class and Work
This journal article by Radhika Desai, Professor at the Department of Political Studies, and Director of the Geopolitical Economy Research Group at the University of Manitoba, Winnipeg, Canada, was originally published in 2010 and republished in an revised format in 2020. The article is a comprehensive treatment of Marx's theory of crisis, focusing on the role of consumption demand in capitalism and in the emergence of crises.
Consumption demand in Marx, his crisis theories and in the current crisis
IS-LM is perhaps the prime example of `cognitive dissonance' in economics, and is problematic to many economists. On the one hand, the IS-LM model is still taught by many academic economists or they use it to derive the AD-AS approach. On the other hand, the same economists realize the limitations of the basic IS-LM model and would not now use it for policy analysis, as they did in the past. The distinction between pedagogical and analytical efficacy is made by all the authors in this volume regarding the IS-LM model.
IS-LM and Modern Macroeconomics
This Micro-Masters program on Circular Economy looks at the concept and its application from different angles, covering a very wide variety of topics (From Fossil Fuels to Biomass: A Chemistry Perspective; Circular Economy: An Interdisciplinary Approach; Economics and Policies in a Biobased Economy).
It offers a well-rounded, multidisciplinary perspective, using sciences and humanities together for a deeper understanding of the topic. A great start for newbies with Circular Economy!
The access to the course is for free, but you can also apply for full-time on-campus graduate-level programs, be it Wageninged or other universities.
Economics and Policies for a Circular Bio-Economy
In this book, Carlota Perez develops her Neo-Schumpeterian concept of "techno-economic paradigms" which captures the patterns underlying the role of technological revolutions in economic development since the Industrial revolution.
Technological Revolutions and Financial Capital
This is an important contribution both to advancing theoretical and empirical understandings of African monetary sovereignty and to putting problems and possibilities relating to African monetary sovereignty on the political agenda This is of utmost importance given that these issues have largely not received much attention in contemporary discussions of …
Economic and Monetary Sovereignty in 21st Century Africa
Currency hierarchy and policy space: A research agenda for development economics Barbara Fritz
Currency hierarchy and policy space
Exploring Economics, an open-access e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
Impact of FDI on economic growth: The role of country income levels and institutional strength
The paper gives a comprehensive overview of challenges facing energy transmission and distribution networks in the UK in the wake of the green transition and makes the case for public ownership.
Grid is Good: The Case for Public Ownership of Transmission and Distribution
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).
Monetary Policy Operations and the Financial System
While many are unsatisfied with capitalism and critique it in highly sophisticated ways, there are few concrete proposals for a socialist mode of production that could replace the capitalist one. Daniel E. Saros has developed such a proposal in his book "Information Technology and Socialist Construction – The End of Capital and the Transition to Socialism" which we discuss at length over the course of two episodes.
Daniel E. Saros on Digital Socialism and the Abolition of Capital
This multimedia dossier is part of the series „Understanding Finance“ by Finance Watch and explores the following questions: What is bank capital and how is it regulated? It further presents controversies on the size of bank capital in the aftermath of the financial crisis and on how bank capital affects economic activity.
Bank capital – what is it and how is it regulated?
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