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Obwohl der Begriff „der Markt“ (in der Einzahl) andauernd – sowohl in der Theorie als auch in Alltagsdiskurse – mit einer großen Selbstverständlichkeit verwendet wird, hat er eine Geschichte, die fast 100 Jahre zurückgeht. Diese Begrifflichkeit wurde erstmals in der Österreichischen Schule der Nationalökonomie, und zwar von Ludwig Mises und Friedrich Hayek, und von Ordoliberalen wie Walter Eucken oder Wilhelm Röpke entwickelt.
„Der Markt“ und seine Politische Ökonomie
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Mathematisch rationalisierte Ideologieproduktion statt Marktanalyse
Neoclassical economics focuses on the allocation of scarce resources. Economic analysis is mainly concerned with determining the efficient allocation of resources in order to increase welfare.
Neoclassical Economics
One method of economic modelling that has become increasingly popular in academia, government and the private sector is Agent Based Models, or ABM. These simulate the actions and interactions of thousands or even millions of people to try to understand the economy – for this reason ABM was once described to me as being “like Sim City without the graphics”. One advantage of ABM is that it is flexible, since you can choose how many agents there are (an agent just means some kind of 'economic decision maker' like a firm, consumer, worker or government); how they behave (do they use complicated or simple rules to make decisions?); as well as the environment they act in, then just run the simulation and see what happens as they interact over time.
Agents, agents everywhere
This chapter discusses the role of gender in economic relations, processes, and outcomes. Gender differences in economic outcomes such as labor force participation and wages have received growing attention from economists in the last several decades – a positive and much needed development in economic thinking.
Illuminating the role of gender in the economy
Feminist economics critically analyzes both economic theory and economic life through the lens of gender, and advocates various forms of feminist economic transformation. In this course, we will explore this exciting and self-consciously political and transformative field.
Feminist Economics
This course will introduce key concepts, theories and methods from socioeconomics. The first part of the course, will deal with the main economic actors and how their interactions are governed. Markets are seen as sets of social institutions. Institutions shape how consumers, firms and other economic actors behave. While it is difficult to understand how novelty emerges, we can study the conditions that are conducive to innovation. We will review how economic performance, social progress and human wellbeing are measured and what progress has been made. In the second part of the course, we will study a specific macroeconomic model that accounts for biophysical boundaries and inequality.
Foundations in Socioeconomics
The Economics and Geopolitics of Russia Selling Yuan and Gold Reserves
It is important for students to understand the workings of international and public finance and that the goal of governments and politicians is not always economic efficiency when making financial decisions. Normative goals other than efficiency can motivate economic decisions. A good economist is able to recognise, clearly name and take into account the values and goals behind economic behaviour, when making sense of the world.
Russia sells foreign reserves
In this book, distinguished economist Edith Kuiper shows us that the history of economic thought is just that, a his-story, by telling the herstory of economic thought from the perspective of women economic writers and economists. Although some of these women were well known in their time, they were excluded from most of academic economics, and, over the past centuries, their work has been neglected, forgotten, and thus become invisible.
A Herstory of Economics
The third edition of Political Economy: The Contest of Economic Ideas is a fully updated overview of the political economy and its connection with social concerns. This book investigates the main traditions of economic ideas and provides a 'big picture' overview of the analytical tools and value judgements associated with competing schools of economic thought.
Political Economy
The 2022 FIFA World Cup (including the construction work required for it) provides a clear example of economic activity that has taken place despite the financial costs to the Qatari state being an order of magnitude larger than the financial benefits it will receive. Whilst this is a fairly extreme case in terms of how many different costs and benefits are involved and how unequally they have been spread, many economic decisions are more complicated than mere financial calculations and it is therefore vital for students to be able to think about multiple dimensions involved in economic decisions.
The Economics of a World Cup in Qatar
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 historic timeline presents economic events, economic thinkers and schools of thought from the 18th century until the 2007/2008 financial and economic crisis with short texts on the respective event or perspective.
Economics: An Illustrated Timeline
Happiness economics is a branch in behavioral economics, where it explores the economics factors and consequences of happy humans. What makes people happier, and what benefits do we get when people are happier? This dossier introduces you to the field of happiness economics, from a review of economic factors proposed to influence people’s happiness, to a discussion of the economic consequences of happiness, and concludes with economic policy implications of happiness economics.
Happiness Economics. Does the Easterlin paradox stand?
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
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
Austrian economics focuses on the economic coordination of individuals in a market economy. Austrian economics emphasises individualism, subjectivism, laissez-faire politics, uncertainty and the role of the entrepreneur, amongst others.
Austrian Economics
How long the COVID-19 crisis will last, and what its immediate economic costs will be, is anyone's guess. But even if the pandemic's economic impact is contained, it may have already set the stage for a debt meltdown long in the making, starting in many of the Asian emerging and developing economies on the front lines of the outbreak.
The COVID-19 Debt Deluge
Die Sozialökonomik ist 1. die historische Fachbezeichnung einer integrierten Sozial- und Wirtschaftswissenschaft (vgl. Einzelwissenschaft, Disziplin) und 2. ein kontextabhängiger Ausdruck für komplexe Zusammenhänge von Gesellschaft und Wirtschaft (vgl. Sozialökonomie bzw. Sozioökonomie).
Sozialökonomik - Geschichte und Gegenwart eines Wissenschaftskonzepts
Die Evolutionäre und Institutionelle Ökonomie ist ein ökonomisches Paradigma, in welchem sozialer und ökonomischer Wandel eine zentrale Bedeutung einnehmen. In dieser heterodoxen Rolle außerhalb des wirtschaftswissenschaftlichen Mainstreams sehen einige die Evolutionsökonomie als eine Teildisziplin der Wirtschaftswissenschaften, die sich mit dynamischen Aspekten wirtschaftlichen Austausches befasst; für andere stellt sie eine Revolution wirtschaftstheoretischen Denkens dar. (vgl. Berendt/Glückler: 13 f.) Die Institutionelle Ökonomie zeigt Erklärungsansätze für wirtschaftliche Prozesse auf und betont, dass diese nicht ausschließlich durch „individuelles Rationalverhalten“ geprägt werden. Die Notwendigkeit von Institutionen wird betont, da ein individuelles, rationales Verhalten zu einer negativen Beeinflussung der Gemeinschaft führen kann und somit die Lösung über Institutionen erfolgen muss. (vgl. Nee, 2005: 49 ff)
Evolutionäre und institutionelle Ökonomie
Brauchen wir angesichts der sich zuspitzenden Klimaproblematik neue ökonomische Denkweisen – jenseits der ‚unsichtbaren Hand des Marktes’ und des ‚rationalen’ Agenten – und wie sollten diese aussehen?
Neues ökonomisches Denken für eine klimaverträgliche Handelsordnung und Wirtschaft
On July 2020 ZOE-Institute published a unique platform for transformative policymaking: Sustainable Prosperity. Building on insights from new economic thinking the platform provides knowledge about ideas, arguments and procedures that support effective promotion of political change. It aims to strengthen change makers in public policy institutions, who are working on an ambitious green and just transition. As such, it provides convincing arguments and policy ideas to overcome the reliance of economic policy on GDP growth
Sustainable Prosperity
In this essay the author reviews empirical studies in economics that analyze factors behind the rise of nationalist and populist parties in Western countries. He stresses that economic factors (e.g., trade shocks and economic crisis) play a crucial role in the rise of populist parties; however, the discussion of mechanisms driving this trend remains unsatisfying
The Economics of Populism in the Present
The economic crisis is also a crisis for economic theory. Most analyses of the evolution of the crisis invoke three themes, contagion, networks and trust, yet none of these play a major role in standard macroeconomic models. What is needed is a theory in which these aspects are central.
Complex Economics
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
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
It is perhaps fitting that the seriousness of the coronavirus threat hit most of the Western world around the Ides of March, the traditional day of reckoning of outstanding debts in Ancient Rome. After all, problems and imbalances have accumulated in the Western capitalist system over four decades, ostensibly since it took the neoliberal road out of the 1970s crisis and kept going along it, heedless of the crises and problems it led to.
The Unexpected Reckoning: Coronavirus and Capitalism
Oft werden Universitäten mit neutraler Wissenschaft verbunden und das von Dozierenden vermittelte Wissen als Abbildung der Realität wahrgenommen. Nur selten ist es Gegenstand kritischer Auseinandersetzungen. Wissenschaft findet jedoch in keinem neutralen Raum statt, sondern ist von Machtstrukturen und somit auch oft von diskriminierenden Denkweisen geprägt. Genau hier setzt unser Projekt an, mit dem wir einen Beitrag zur kritischen, interdisziplinären Auseinandersetzung mit Rassifizierung und Diskriminierung an der Universität Bayreuth und darüber hinaus leisten wollen. Unser Interesse am Thema Rassifizierung im Kontext universitärer Lehre und Forschung entstammt dabei der kritischen Auseinandersetzung mit den Lehrinhalten der Vorlesung „Ökonomik der Entwicklungsländer“ von Prof. Dr. Martin Leschke sowie mit dem begleitenden Lehrbuch „Ökonomik der Entwicklung – Eine Einführung aus institutionenökonomischer Sicht“. Als uns Themen und Begriffe auffielen, die unserer Einschätzung nach in ihrer Verwendung nicht dem aktuellen Umgang mit postkolonialen Machtverhältnissen und Eurozentrismus entsprachen, kam uns die Idee, eine kritische Begleitschrift zu besagtem Lehrbuch zu verfassen.
Ökonomik der Entwicklung: Analyse und Kritik aus postkolonialer Perspektive
The article pursues the two related questions of how economists pretend to know and why they want to know at all. It is argued that both the economic form of knowledge and the motivation of knowing have undergone a fundamental change during the course of the 20th century. The knowledge of important contemporary economic textbooks has little in common with an objective, decidedly scientifically motivated knowledge. Rather, their contents and forms follow a productive end, aiming at the subjectivity of their readers.
An essay on the putative knowledge of textbook economics
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.
Evolutionary Economics
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.
Complexity Economics
Behavioural economics deals with observing behaviour and economic decision making behaviour.
Behavioral Economics
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