494 Ergebnisse
Mark Blyth criticises the political inability to solve the persistent economic crisis in Europe against the background of a deflationary environment. Ideological blockades and impotent institutions are the mutually reinforcing causes of European stagnation. The deeper roots lie in the structural change of the economic system since the 1980s, when neoliberalism emerged as hegemonic ideology. This ideology prepared the ground for austerity and resulting deflationary pressures and a strategy of all seeking to export their way out of trouble. Worryingly this is breeding populist and nationalist resentments in Europe.
Policies to avert stagnation: The Crisis and the Future(s) of the Euro
This article reviews insights of existing literature on global care chains. A specific focus is laid on the impact that the refugee crisis has on global care chains and in turn how the crisis impacts the de-skilling of the women in the migrant workforce.
Global care chains, refugee crisis, and deskilling of workers
In this lecture, Prof. Israel Kirzner presents a historical overview of the development of the Austrian school. The talk covers a timespan from the beginnings of the Austrian School in the early 1870's till just before the more recent 'revival' of the School in the mid-1970's.
The History of Austrian Economics
Es ist immer noch zweifelhaft, ob Ökonom*innen mit ihrem Instrumentarium die nächste Wirtschaftskrise vorhersagen können.
Als erster Grund ist dafür der nicht-systemische Status von Krisen in Mainstream-Theorien zu nennen. Zweifelsohne entwickeln empirisch arbeitende Makroökonomen Warn-Indikatoren für Finanzkrisen (Schularick und Taylor 2012), es gibt auch makroökonomsiche Modelle, die Krisendynamiken aufgreifen (Kumhof et al. 2015) und Debatten im Mainstream der VWL über den richtigen Umgang mit der Mathematik (Romer ABC).
Stickeraktion: Wann kommt die nächste Krise, Herr Professor*?
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
How can we establish new institutions and practices in order to use fare-free public transport as a beacon for sustainable mobility and a low-carbon lifestyle? The author of this essay elaborates on how practice theory and institutional economics can help to answer this question.
Towards a practice of fare-free sustainability
Eine kritische Bestandsaufnahme des Lehrbuchs "Makroökonomie" von Oliver Blanchard und Gerhard Illing.
Oliver Blanchards und Gerhard Illings Makroökonomie – alter Wein aus neuen Schläuchen?
This essay focuses on the sources of government revenue within the Middle East and North African (MENA) region and proposes the implementation of a regional tax reset through increased taxation and tax reforms, deregulation in the private sector and economic diversification to reduce macroeconomic volatilities caused by the hydrocarbon industry.
Taxation in the MENA region
In this essay the author elaborates on the EU's perspective on the fast growing sector of the platform economy.
Sharing is Caring? On the EU- Narrative on Platform Economy
The MINE website explores the interplay between nature and economy. Focusing on such fundamental concepts as time, thermodynamics, evolution, homo politicus and justice, a new outline of economic activity emerges within nature. The dominant approach of Mainstream Economics, which considers nature as a subsystem of the economy, is thus replaced by a broader and more integrated framework. The visual map and its links between concepts provides an orientation. The visitor can approach the content from their own starting point and follow their own path to discovery. Each concept starts with the historical background and moves on through theory and practice.
The research behind MINE began in the 1970s at the University of Heidelberg, Germany, in an interdisciplinary group spearheaded by Professor Malte Faber, including scientists from economics to mathematics, physics and philosophy. The research has contributed to the field of Ecological Economics.
MINE is directed at students, scientists and decion-makers. More on http://nature-economy.de/faq/
MINE - Mapping the interplay between Nature and Economy
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.
Economic theory, methodology, and secure foundations
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
In der Volkswirtschaftslehre (VWL) hat sich seit Mitte der 1970er Jahre mit der Neoklassik ein dominierendes theoretisches Paradigma etabliert, welches das ökonomische Denken im Wesentlichen bis heute prägt. Dieser Zustand, der insbesondere seit der Finanz- und Wirtschaftskrise 2008 nicht nur in der akademischen Fachwelt durchaus kontrovers diskutiert wird, hat sowohl weitreichende Auswirkungen auf die innerdisziplinären Machtverhältnisse (z. B. Einseitigkeit in Forschung und Lehre, hierarchische Strukturierung, geringe Beachtung sozial- wissenschaftlicher Forschung und interdisziplinärer Ansätze) als auch auf gesellschafts- und wirtschaftspolitische Entwicklungen (z. B. Ökonomisierung sozialer und politischer Bereiche, einseitige Einflussnahme durch Expertengremien und Think Tanks).
Zum Profil der deutschsprachigen Volkswirtschaftslehre
Sozioökonomische Bildung erschließt den Bereich Wirtschaft für die lernenden Personen vor allem indem sie sozialwissenschaftliches Wissen vermittelt. Dazu setzen sich die Lernenden mit wirtschaftlichen Konzepten, Problemen, Konflikten und alternativen Lösungen kritisch auseinander.
Paradigmatische Parteilichkeit, lückenhafte Lehrpläne und tendenziöses Unterrichtsmaterial?
Hannes Vetter hat sich in Rahmen der Schreibwerkstatt "Varieties of Mainstream Economics?" mit der Evaluation der Bewertung von Umwelt in neoklassischen Makromodellen auseinandergesetzt.
Kritische Evaluation der Bewertung von Umwelt in neoklassischen Makromodellen
Manuel Schulz hat sich im Rahmen der Schreibwerkstatt "Varieties of Mainstream Economics?" kritisch mit dem normativen Selbstverständnis der Verhaltensökonomik auseinandergesetzt.
Humanisierung der Ökonomie oder Ökonomisierung der Humanität? Zur normativen Verortung der Verhaltensökonomik
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.
Women Participation – Women Contribution to Economics and Politics
Ein ungebremster Klimawandel stellt eine existenzielle Bedrohung dar. Was bedeuten diese Erkenntnisse für die Ökonomik als Wissenschaft? Ich schlage eine neue Agenda für die Ökonomik des Klimawandels vor, die sich auf eine Kernfrage bezieht: Wie kann der nachhaltige Wandel erleichtert werden?
Ökonomik in der Klimakrise: Zeit für neue Fragen
Der Umbau zu einer nachhaltigen, CO2-armen und solidarischen Ökonomie erfordert besonders in der Transformationsphase massive Investitionen sowohl in Institutionen und Infrastrukturen, die ein sozial gerechtes Leben für alle ermöglichen (ökologische Landwirtschaft, dezentrale erneuerbare Energien, ökologisches Wohnen, kollektive Mobilität etc.) als auch in Projekte zur Anpassung an und Entschärfung von Klimawandel und ökologischen Zerstörungen sowie finanzielle Transfers vom globalen Norden in den globalen Süden, die aus der historisch angehäuften Klimaschuld folgen.
Revolutionäre Realpolitik jenseits des Wachstums
Environmental catastrophe looms large over politics: from the young person’s climate march to Alexandria Ocasio-Cortez’s Green New Deal, increasing amounts of political space are devoted to the issue. Central to this debate is the question of whether economic growth inevitably leads to environmental issues such as depleted finite resources and increased waste, disruption of natural cycles and ecosystems, and of course climate change. Growth is the focal point of the de-growth and zero-growth movements who charge that despite efficiency gains, increased GDP always results in increased use of energy and emissions. On the other side of the debate, advocates of continued growth (largely mainstream economists) believe that technological progress and policies can ‘decouple’ growth from emissions.
To Grow or Not to Grow?
An essay of the writing workshop on Nigeria’s Readiness for and the Effect of the Fourth Industrial Revolution
The Fourth Industrial Revolution: Economic Impact and Possible Disruptions
Most mainstream neoclassical economists completely failed to anticipate the crisis which broke in 2007 and 2008. There is however a long tradition of economic analysis which emphasises how growth in a capitalist economy leads to an accumulation of tensions and results in periodic crises. This paper first reviews the work of Karl Marx who was one of the first writers to incorporate an analysis of periodic crisis in his analysis of capitalist accumulation. The paper then considers the approach of various subsequent Marxian writers, most of whom locate periodic cyclical crises within the framework of longer-term phases of capitalist development, the most recent of which is generally seen as having begun in the 1980s. The paper also looks at the analyses of Thorstein Veblen and Wesley Claire Mitchell, two US institutionalist economists who stressed the role of finance and its contribution to generating periodic crises, and the Italian Circuitist writers who stress the problematic challenge of ensuring that bank advances to productive enterprises can successfully be repaid.
Finance and Crisis: Marxian, Institutionalist and Circuitist approaches
Die ökonomische Theorie hat mit Moral wenig oder gar nichts zu tun. In den gängigen Lehrbüchern der Mikroökonomie findet sich in den Stichwortverzeichnissen kein Eintrag zu Moral oder Ethik. Die Studierenden lernen über die Wirtschaft nachzudenken, aber sie lernen dabei nicht, systematisch über ethische Fragen zu reflektieren. Nach der neoklassischen Lehre, wie sie in den Lehrbüchern präsentiert wird, weist wirtschaftliches Handeln nicht grundsätzlich moralische Aspekte auf.
Ökonomie und Moral: Eine kurze Theoriegeschichte
Since the 1980s, the financial sector and its role have increased significantly. This development is often referred to as financialization. Authors working in the heterodox tradition have raised the question whether the changing role of finance manifests a new era in the history of capitalism. The present article first provides some general discussion on the term financialization and presents some stylized facts which highlight the rise of finance. Then, it proceeds by briefly reviewing the main arguments in the Marxian framework that proposedly lead to crisis. Next, two schools of thought in the Marxian tradition are reviewed which consider financialization as the latest stage of capitalism. They highlight the contradictions imposed by financialization that disrupt the growth process and also stress the fragilities imposed by the new growth regime. The two approaches introduced here are the Social Structure of Accumulation Theory and Monthly Review School. The subsequent part proceeds with the Post-Keynesian theory, first introducing potential destabilizing factors before discussing financialization and the finance-led growth regime. The last section provides a comparative summary. While the basic narrative in all approaches considered here is quite similar, major differences stem from the relationship between neoliberalism and financialization and, moreover, from the question of whether financialization can be considered cause or effect.
Financialization and the crises of capitalism
Global Value Chains (GVCs) started to play an increasing and key role in the global economy from the 1990s on. The market mechanism in GVCs supports industrialisation in the Global South and under certain conditions product and process upgrading. But GVCs do not lead to the catching-up of countries in the sense of them approaching real GDP per capita levels comparable with developed countries. These arguments are supported by a critical interpretation of the traditional trade theory, the New Trade Theory and specific approaches to explain GVCs, especially different governance structures and power relationships. Several case studies support these arguments. For catching-up, countries need comprehensive horizontal and vertical industrial policy and policies for social coherence. The small number of countries which managed to catch up did this in different variations.
Global Value Chains in economic development
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.
The Complexity of Economies and Pluralism in Economics
In this paper the main developments in post-Keynesian macroeconomics since the mid- 1990s will be reviewed. For this purpose the main differences between heterodox economics in general, including post-Keynesian economics, and orthodox economics will be reiterated and an overview over the strands of post-Keynesian economics, their commonalities and developments since the 1930s will be outlined. This will provide the grounds for touching upon three important areas of development and progress of post-Keynesian macroeconomics since the mid-1990s: first, the integration of distribution issues and distributional conflict into short- and long-run macroeconomics, both in theoretical and in empirical/applied works; second, the integrated analysis of money, finance and macroeconomics and its application to changing institutional and historical circumstances, like the process of financialisation; and third, the development of full-blown macroeconomic models, providing alternatives to the mainstream 'New Consensus Model' (NCM), and allowing to derive a full macroeconomic policy mix as a more convincing alternative to the one implied and proposed by the mainstream NCM, which has desperately failed in the face of the recent crises.
Post-Keynesian macroeconomics since the mid-1990s: Main developments
This paper starts with an evaluation of three common arguments against pluralism in economics: (1) the claim that economics is already pluralist, (2) the argument that if there was the need for greater plurality, it would emerge on its own, and (3) the assertion that pluralism means ‘anything goes’ and is thus unscientific. Pluralist responses to all three arguments are summarized. The third argument is identified to relate to a greater challenge for pluralism: an epistemological trade-off between diversity and consensus that suggests moving from a discussion about ‘pros’ and ‘cons’ towards a discussion about the adequate degree of plurality. We instantiate the trade-off by showing how it originates from two main challenges: the need to derive adequate quality criteria for a pluralist economics, and the necessity to propose strategies that ensure the communication across different research programs. The paper concludes with some strategies to meet these challenges.
Pluralism in economics: its critiques and their lessons
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.
Feminist Economics
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 wil 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; and economic crises.
Gender Relations and Economics
Introduction Economics is by necessity a multi paradigmatic science Several theoretical structures exist side by side and each theory can never be more than a partial theory Rothschild 1999 Likening scientific work to the self coordinating invisible hand of the market Michael Polanyi cautioned strongly against centralized attempts to steer …
Making Many Maps: Why We Need an Interested Pluralism in Economics and How to Get There
Steven G. Medema is a Research Professor at Duke University. His research focuses on the History of Economic Thought, having published extensively on the issue of social costs of production (conceptualized as externalities in neoclassical economics). In this recorded seminar, he exposes his working paper on the history of the concept of externalities in economic literature, starting from Pigou’s “The Economics of Welfare” (1920), where Pigou makes the case for governmental intervention in the market where there is a divergence between private and social costs or benefits of a productive activity. T
'Exceptional and Unimportant'? The Rise, Fall, and Rebirth of Externalities in Economic Analysis
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