RETHINK
ECONOMICS
RETHINK
ECONOMICS
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Renowned scholars elaborate a critique on neoclassical economics and how it was unable to predict and even favoured the financial crisis. They refer to DSGE models, equilibrium theory and rational agents – a brief insight in the critique on neoclassic economics. 2012 Level: beginner Financial Instability Mini-Documentary Joseph Stiglitz, Gillian Tett, David Tuckett, Stephen Kinsella, John Kay, David Weinstein, Steve Keen and Dirk Bezemer INET 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. 2011 Level: beginner Macroeconomics From the Bottom Up Doyne Farmer INET Steve Keen discusses DSGE modeling and microfoundations by asking the question if it is ideologically possible to derive macroeconomics from microeconomics. 2013 Level: advanced Discussing DSGE Steve Keen ProfSteveKeen The first keynote speech was given by Sebastian Dullien, current spokesperson of FMM and who is one of the most well-known German economists in applied European economics and a very active contributor to the pluralist debate. Sebastian discusses the strategy of “running with the pack” by using orthodox methods to disseminate pluralist economics and politics. Referring to diverse examples Sebastian addresses the pros and cons of “running with the pack” and proposes alternative approaches to achieve more pluralism in economics. 2016 Level: beginner How to promote alternative macroeconomic ideas: Are there limits to running with the (mainstream) pack? Sebastian Dullien IMK On this episode of the Hayek Program Podcast, Professor Roger Koppl talks with Hayek Program Research Fellow Solomon Stein about his research on experts, evolution, and the dynamics of epistemics, his career, and in what future direction(s) he thinks Austrian economics will go. 2018 Level: advanced Austrian Epistemics Roger Koppl and Solomon Stein Mercatus Center: F. A. Hayek Program, GMU This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. 2016 Level: advanced A History of Macroeconomics from Keynes to Lucas and Beyond Vroey, Michel de Cambridge University Press

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