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In this clear and accessible book, an eminent political scientist offers a jargon-free introduction to the market system for all readers, with or without a background in economics
The Market System
As the global economic landscape evolves, demographics shift, inequality expands, climate change gets worse and technology continues to advance at breakneck speed, Gross Domestic Product (GDP) is struggling to stay relevant.
Beyond GDP - Wellbeing Economy, Happiness Index and the postgrowth debate
Mitch Jeserich interviews Professor Richard D Wolff a professor of economics at the New School University in New York City Prof Wolff presents an explanatory theory of how inflation occurs in an economy Briefly profit driven employers raise the price in order to maximize profits of private corporations they own …
Richard Wolff On Everything You Need to Know About Inflation
'This Cambridge professor delights in paradox. And myth-busting . . . he does this with charm and a desire to see how things work in the real world' Guardian, 'In Praise of Ha-Joon Chang' In this revelatory book, Ha-Joon Chang destroys the biggest myths of our times and shows us the truth about how the world really works, including- there's no such thing as a free market.
23 Things They Don't Tell You about Capitalism
Mr Minsky long argued markets were crisis prone His moment has arrived The Wall Street Journal In his seminal work Minsky presents his groundbreaking financial theory of investment one that is startlingly relevant today He explains why the American economy has experienced periods of debilitating inflation rising unemployment and marked …
Stabilizing an Unstable Economy
Adam Smith's concept of the invisible hand and its subsequent perception in economics is illustrated in this short video.
The invisible hand
The gender pay gap is a pressing issue that affects individuals and society as a whole, so it is important for economics students to understand it. Despite recent progress, women still earn less than men for the same jobs, leading to economic inequalities and reduced efficiency (see, for example, the recent report released by Moody’s). Understanding the causes and consequences of the gender pay gap is critical in developing policies that promote fairness and equality.
The Gender Pay Gap: Understanding the Economic and Social Causes and Consequences
Hunt (economics, U. of Utah) provides a concise history of the rise and triumph of capitalism, centering mainly on England until 1800 and the U.S. since 1800. He traces the evolution of some of the most significant institutions of capitalism, analyzes the recurring ideological defenses and the radical critiques of capitalism, and examines intellectual developments which were occurring at the same time.
Property and Prophets
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
How money gets destroyed - Banking 101 (Part 6 of 6)
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
Misconceptions around Banking - Banking 101 (Part 1 of 6)
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
Do banks create money or just credit? - Banking 101 (Part 5 of 6)
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
What's wrong with the money multiplier? - Banking 101 (Part 2 of 6)
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
How much money can banks create - Banking 101 (Part 4 of 6)
Banking 101 is a series of 6 short videos that ask the following questions: How do banks work and how is money created? Is reveals common misunderstandings of money creation and the role of banks. Furthermore, the videos show how models taught in many introductory classes to economics (Econ 101) do not reflect those processes:
Part 1) “Misconceptions around Banking” questions common comprehensions of how banks work (savings = investments).
Part 2) “What's wrong with the money multiplier” states that the model of the money multiplies is inaccurate.
Part 3) “How is money really made by banks” explains the process of money creation, loans and inter-bank settlement.
Part 4) “How much money banks create?” asks what limits the money creation by banks and presents the difference between reserve ratio, liquidity ration, equity and refers to the inter-bank market.
Part 5) Explores the question if banks create money or just credit and especially refers to credit risks.
Part 6) Explains how money gets destroyed when loans are paid back.
Note: The videos refer to the UK monetary and banking system, some explanations don't apply to other banking systems, e.g. the reserve ratio.
How is money really made by banks? - Banking 101 (Part 3 of 6)
In this radio interview, Philip Mirowski, author of the book "Never Let a Serious Crisis Go to Waste" presents several differences between neoclassical economics and neoliberalism. Apart from a historical outline, Mirowski primarily discusses different perceptions of markets and the role of the state. Mirowski further reflects on the role think tanks ("part of the "neoliberal thought collective") and the entrepreneurial self (the "neoliberal agent") in the spreading and fostering of the neoliberalism.
How Neoliberalism Survived the Financial Meltdown
In this lecture, Konstantinos Katsikopoulos presents the concept of bounded rationality and contrasts two - as he calls it - cultures of research and analysis within Behavioral Economics: an "idealistic" and a "pragmatic" approach. Thereby, Katsikopoulos discusses amongst others their different assumptions on decision making (utility optimization vs. achievement of a satisfactory outcome), the psychological process as well as the epistemic aim and implications on policy recommendations (nudging vs. education).
Bounded Rationality: The Two Cultures
In this blog article Steve Keen elaborates on flawed climate change modelling and mainstream economics forecasts. In specific, he stresses the climate change forecasts of the DICE model (“Dynamic Integrated model of Climate and the Economy”) by Nobel Memorial Prize in Economic Sciences winner William Nordhaus.
The Cost of Climate Change
Currency hierarchy and policy space: A research agenda for development economics Barbara Fritz
Currency hierarchy and policy space
In this webinar for the Princeton Bendheim Center for Finance, Nobel Prize winner William Nordhaus explains the main problems regarding the economics of a low-carbon energy transition.
Climate Compacts to Combat Free Riding in International Climate Agreements
The Trialogue is a podcast about combining historic ideas of the high-culture of the Inca and modern problems. The three authors each put their own perspectives of the topic and show insights into their actual view of economics.
Trialogue Of Taking Socialistic Hints From The Inca For A Better Modern Society
Professor David Harvey presents a complete visual representation of the flow of capital in all its forms. Similar to the Water Cycle diagrams, Harvey models the economics of production, consumption, human reproduction, labor, private business, and government redistribution.
Visualizing Capital
This teaching pack focuses on the practice and real-world activities of central banks. It assumes students have a grasp of basic macroeconomic concepts already, and is therefore most suitable to be used at the end of introductory macro courses, or in more advanced macro or monetary economics courses.
The Practice of Central Banking
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
Lean Logic is the late David Fleming’s masterpiece, the product of more than thirty years’ work and a testament to the creative brilliance of one of Britain’s most important intellectuals. A dictionary unlike any other, it leads readers through Fleming’s stimulating exploration of fields as diverse as culture, history, science, art, logic, ethics, myth, economics, and anthropology, being made up of four hundred and four engaging essay-entries covering topics such as Boredom, Community, Debt, Growth, Harmless Lunatics, Land, Lean Thinking, Nanotechnology, Play, Religion, Spirit, Trust, and Utopia. The threads running through every entry are Fleming’s deft and original analysis of how our present market-based economy is destroying the very foundations—ecological, economic, and cultural— on which it depends, and his core focus: a compelling, grounded vision for a cohesive society that might weather the consequences
Lean Logic: A Dictionary for the Future and How to Survive It
This paper presents an inquiry into the observed results when governments have implemented one or other type of (opposed) economic policy prescribed in economics to reverse the consequences of a global economic crisis.
Fiscal austerity vs. expansionary fiscal policy: on the results of these opposed economic policies applied to fight recessions
This course seeks to interpret capitalism using ideas from biological evolution. The lectures are foundational on neoclassical economics and economist, as well as their roles in the proliferation of capitalist ideology. However, it is less concerned with the ultimate judgment of capitalism than with the ways it can be shaped to fit more specific objectives.
Capitalism: Success, Crisis, and Reform
Part I: Basic Economic Problems Is Economics a Science? Is It Useful? (Lawrence Boland, Ian Parker) Is There Such a Thing as a Free Market? (William Watson, Robert Prasch) Part II: Consumers and Firms Is Homo Economicus an Appropriate Representation of Real-World Consumers? (Joseph Persky, Morris Altman) Is the Consumer Sovereign?
Introducing Microeconomic Analysis
Understanding Capitalism: Competition, Command, and Change is an introduction to economics that explains how capitalism works, why it sometimes fails, and how it undergoes and brings about change. It discusses both the conventional economic model and the role of power in economic interactions.
Understanding Capitalism
For intermediate courses in economics. A Unified View of the Latest Macroeconomic Events Macroeconomics, Blanchard presents a unified, global view of macroeconomics, enabling readers to see the connections between goods, financial markets, and labor markets worldwide.
Macroeconomics
Since their first emergence in the work of Paul David thirty years ago, the dual issues of Path Dependence and Lock-In have become critically important subjects in the fields of economics, sociology, and business strategy.
Path Dependence and Lock-In
The first book to bring together the key writings and speeches of civil rights activist Sadie Tanner Mossell Alexander--the first Black American economist In 1921, Sadie Tanner Mossell Alexander became the first Black American to gain a Ph.D. degree in economics. Unable to find employment as an economist because of discrimination, Alexander became a lawyer so that she could press for equal rights for African Americans.
Democracy, Race, and Justice
Game theory is the standard quantitative tool for analyzing the interactions of multiple decision makers. Its applications extend to economics, biology, engineering and even cyber security.
Game Theory I - Static Games
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