✕
RETHINK
ECONOMICS
RETHINK
ECONOMICS
... and receive personalised notifications on
new pluralistic content directly into your inbox!

Macroeconomics From the Bottom Up

Doyne Farmer
INET, 2011
Level: beginner
Perspective: Complexity Economics
Topic: Reflection of Economics
Format: Interview
Duration: 00:12:53
Link: https://www.youtube.com/watch?v=wC9dCSYAjFs
Based on a critique on econometric and DSGE models (in particular in the context of the financial crisis), Doyne Farmer presents his current research programme that aims at building an agent-based model of the financial and economic crisis. It models heterogeneous agents and from there simulates the economy, firstly for the housing market. The interview gives a short insight in the research programme.

Go to: Macroeconomics From the Bottom Up

Tags: agent-based modelling (ABM) | agents | decisions | DSGE (dynamic stochastic general equilibrium) model | econometrics | financial crisis | housing market | macroeconomics | methodology | modelling
This paper attempts to clarify how the European economic crisis from 2007 onwards can be understood from the perspective of a Marxian monetary theory of value that emphasizes intrinsic, structural flaws regarding capitalist reproduction. Chapter two provides an empirical description of the European economic crisis, which to some extent already reflects the structural theoretical framework presented in chapter three. Regarding the theoretical framework Michael Heinrich's interpretation of 'the' Marxian monetary theory of value will be presented. Heinrich identifies connections between production and realization, between profit and interest rate as well as between industrial and fictitious capital, which represent contradictory tendencies for which capitalism does not have simple balancing processes. In the context of a discussion of 'structural logical aspects' of Marx's Critique of the Political Economy, explanatory deficits of Heinrich's approach are analyzed. In the following, it is argued that Fred Moseley's view of these 'structural logical aspects' allows empirical 'applications' of Marxian monetary theories of value. It is concluded that a Marxian monetary theory of value, with the characteristics of expansive capital accumulation and its limitations, facilitates a structural analysis of the European economic crisis from 2007 onwards. In this line of argument, expansive production patterns are expressed, among other things, in global restructuring processes, while consumption limitations are mitigated by expansive financial markets and shifts in ex-port destinations. 2019 Level: expert The European economic crisis from 2007 onwards in the context of a global crisis of over-production of capital - a Marxian monetary theory of value interpretation Sascha Gander Institute for International Political Economy Berlin Cet entretien donne la parole à J.-F. Ponsot et V. Monvoisin, deux des coordinateurs de l'ouvrage "L'économie post-keynésienne. Histoire, théories et politiques" (Seuil, 2018), premier ouvrage de référence sur le post-keynésianisme paru en français. Les interviewés reviennent sur les fondements théoriques du courant du post-keynésianisme et ses apports principaux. Ils proposent ensuite une lecture sous l'angle post-keynésien de la politique monétaire non-conventionnelle de la Banque Centrale Européenne, du concept de revenu universel, de la monnaie européenne, et des politiques économiques françaises et européennes en général. Enfin, ils analysent la difficulté du pluralisme économique dans le champ de la recherche française et reviennent sur les récentes évolutions de l'économie standard, notamment le succès de l'économie expérimentale. Des liens vers des recensions de l'ouvrage sont disponibles sur le site de Médiapart : https://blogs.mediapart.fr/jean-marc-b/blog/010119/l-economie-post-keynesienne-histoire-theories-et-politiques ainsi que sur le site des Economistes Atterrés : http://www.atterres.org/livre/l%C3%A9conomie-post-keyn%C3%A9sienne . 2018 Level: advanced Le post-keynésianisme, un courant encore trop méconnu en France - Entretien avec J.-F. Ponsot et V. Monvoisin Raphaël Merle, Jean-François Ponsot et Virginie Monvoisin Le vent se lève This syllabus provides an overview of the content of the Philosophy of Economics course at the University of Wisconsin-Madison. 2015 Level: beginner Philosophy of Economics Dan Hausman University of Wisconsin-Madison Das Dezernat Zukunft hatte in diesem Webinar Stefan Eich als Gesprächsgast eingeladen, um über dessen druckfrisch-erschienenes Buch: “The Currency of Politics: The Political Theory of Money from Aristotle to Keynes” (Princeton University Press, 2022), damit sowohl über die historische Rolle von Geldsystemen als politische Institutionen, als auch über die zukünftigen … 2022 Level: advanced The Currency of Politics - Open House Webinar mit Stefan Eich Stefan Eich Dezernat Zukunft

Donate

This project is brought to you by the Network for Pluralist Economics (Netzwerk Plurale Ökonomik e.V.).  It is committed to diversity and independence and is dependent on donations from people like you. Regular or one-off donations would be greatly appreciated.

 

Donate