Sheila Dow discusses the concept of radical uncertainty and the failure of neoclassical economics to integrate it into its analysis. As to the implications for financial regulation that arise from the presence of radical uncertainty she argues for institutional overhaul, where the banks see themselves as a licensed partner of the central bank and where rules, values, and conventions would be subject to a cultural shift. Also, Sheila Dow advocates for a renewed focus on retail banking. 2015 Level: advanced The Economics of Uncertainty Sheila Dow INET 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. 2015 Level: advanced Economics and Political Power during the Crisis Robert Skidelsky INET An Introduction to the Political Theory of John Maynard Keynes. John Maynard Keynes was arguably the greatest economist of the 20th century. He discovered the idea that governments should stimulate demand during economic downturns. 2017 Level: beginner An Introduction to the Political Theory of John Maynard Keynes The School of Life The School of Life Youtube Channel This lecture is all about the challenge to include heterodox approaches into macroeconomics. After giving an overview of recent approaches to that problem Professor Michael Roos presents the theoretical framework of Complexity Economics as a means to combine behavioral aspects with macroeconomics. 2016 Level: advanced Behavioural and Complexity Macroeconomics Michael Roos IMK In this video, the most famed biographer of John Maynard Keynes, Robert Skidelsky, explores the foundations of Keynesian economics 2010 Level: beginner Keynesian Economics - It's All About Spending Robert Skidelsky EconStories Anwar Shaikh explores alternative economic explanations, emphasizing 'real competition' theory and the role of imperfections in economic patterns. 2017 Level: advanced Capitalism: Competition, Conflict, Crisis Anwar Shaikh The New School for Social Research During his life, Keynes was credited with, amongst other things, with helping to save capitalism from the Great Depression, funding the war against the Nazis and building post-war decades of growth and rising prosperity. And when the global crisis struck in 2008, it was his ideas that the world's leaders turned to help avoid another depression. 2012 Level: beginner Masters Of Money | John Maynard Keynes BBC YouTube The principle of effective demand, and the claim of its validity for a monetary production economy in the short and in the long run, is the core of heterodox macroeconomics, as currently found in all the different strands of post-Keynesian economics (Fundamentalists, Kaleckians, Sraffians, Kaldorians, Institutionalists) and also in some strands of neo-Marxian economics, particularly in the monopoly capitalism and underconsumptionist school In this contribution, we will therefore outline the foundations of the principle of effective demand and its relationship with the respective notion of a capitalist or a monetary production economy in the works of Marx, Kalecki and Keynes. Then we will deal with heterodox short-run macroeconomics and it will provide a simple short-run model which is built on the principle of effective demand, as well as on distribution conflict between different social groups (or classes): rentiers, managers and workers. Finally, we will move to the long run and we will review the integration of the principle of effective demand into heterodox/post-Keynesian approaches towards distribution and growth. 2015 Level: advanced The principle of effective demand: Marx, Kalecki, Keynes and beyond Eckhard Hein Institute for International Political Economy Berlin Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods. 2019 Level: advanced Karl Marx: An early post-Keynesian? Eckhart Hein Institute for International Political Economy Berlin 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. 2012 Level: advanced Post-Keynesian macroeconomics since the mid-1990s: Main developments Eckhart Hein Institute for International Political Economy Berlin Fighting Neoliberalism with Keynes & Minsky? Riccardo Bellofiore proposes to revise the insights of Minsky's financial instability hypothesis, combining it with the Keynesian theory of the monetary circuit to answer many questions in modern economy. 2020 Level: advanced Fighting Neoliberalism with Keynes & Minsky? Riccardo Bellofiore New Economic Thinking This course introduces students to political economy and the history of economic thought. We will cover the core ideas in various schools of economic thought, positioning them in the historical and institutional context in which they were developed. In particular, we will cover some economic ideas from the ancient world and the middle ages; the enlightenment; the emergence of and main ideas in classical political economy (Adam Smith, David Ricardo, Thomas Malthus, and others); Marx, Mill, and Keynes; European versus American economic thought through history; the rise of mathematical economics; economic theories around state-managed economies versus socialism; Austrian economics; behavioral economics; and the future of economics. 2020 Level: beginner Political Economy and the History of Economic Thought Alyssa Schneebaum Vienna University of Economics and Business The module is designed to first present some of the main schools of thought from a historical and methodological perspective. Each week we explore and critically assess the main tenants of each school of thought. In the second part of the module we link history of economic thought and methodology to a specific and contemporary economic question. The second part allows you to engage with current economic issues with an awareness of methodology and methodological differences and with some knowledge of the history of economics. 2019 Level: beginner History of Economic Thought Dr. Jeff Powell University of Greenwich This module examines current socio-political issues through the lens of pluralism, that is pluralism of theory, pluralism of method and interdisciplinary pluralism 2020 Level: beginner Pluralist Economic Analysis Sophia Kuehnlenz Manchester Metropolitan University Looking for a pithy introduction into John Maynard Keynes's economic thinking? This BBC radio programme may be it. 2018 Level: beginner Keynesianism: The Story Behind This Key Economic Theory BBC, Anne McElvoy BBC What’s inflation? Why is it relevant? And is there an agreed theory about its roots and causes, or is it a contentious concept? That’s what this text is all about: We define what inflation actually means before we delve into the theoretical debate with an interdisciplinary and pluralist approach: What gives rise to it, what factors might influence it, and, consequently, what might be done about it? 2021 Level: beginner Inflation in economic theory Alexander Barta, Jorim Gerrard, Jakob Steffen & Frieder Zaspel Exploring Economics This volume focuses on the importance of the history of economic thought as an intellectual discipline. It counters the arguments of some contemporary economists who describe it as studying the mistakes of the past. However, all the great economists - Smith, Ricardo, Marx, Marshall, Keynes and even Milton Friedman - have drawn on the history of economics to find an appropriate pedigree for their own theoretical innovations. 1991 Level: advanced The Historiography of Economics Mark Blaug E. Elgar Pub. Heterodox Macroeconomics offers a detailed understanding of the foundations of the recent global financial crisis 2009 Level: advanced Heterodox Macroeconomics Jonathan P. Goldstein, Michael G. Hillard Routledge

In the graveyard of economic ideology, dead ideas still stalk the land.

The recent financial crisis laid bare many of the assumptions behind market liberalism—the theory that market-based solutions are always best, regardless of the problem. For decades, their advocates dominated mainstream economics, and their influence created a system where an unthinking faith in markets led many to view speculative investments as fundamentally safe. 2012 Level: beginner Zombie Economics John Quiggin Princeton University Press Heterodox Macroeconomics offers a detailed understanding of the foundations of the recent global financial crisis. 2009 Level: advanced Heterodox Macroeconomics Goldstein, Jonathan P.; Hillard, Michael G Routledge 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 One of the most authoritative authors on the intellectual heritage of John Maynard Keynes, Robert Skidelsky draws a sketch of the great man's economic thinking both accessible and insightful. 2010 Level: beginner Keynes: A Very Short Introduction Robert Skidelsky Oxford University Press Introduces four of the most influential economists you'll never read in a modern economics class - Marx, Veblen, Keynes, and Galbraith. 2016 Level: beginner Introduction to Political Economy Charles Sackrey, Geoffrey Schneider, Janet Knoedler Dollars & Sense A collection of the prolific economist's essays written since 1990, in sections on history of economic thought, methodology of economics, economics of education, cultural economics, and book reviews. Subjects include the work of Adam Smith, Hayek, and Keynes, the economic case for subsidies for the arts, the historiography of economics, and education and the employment contract. Annotation copyright by Book News, Inc., Portland, OR 1997 Level: advanced Not Only an Economist Mark Blaug Edward Elgar Anwar Shaikh seeks in his lectures for alternative explanations for empirically observed macro and microeconomic patterns of economic fluctuations, price volatility, and economic development. Level: advanced Capitalism: Competition, Conflict, Crisis Anwar Shaikh The New School The most influential and controversial economist of the twentieth century, John Maynard Keynes was the leading founder of modern macroeconomics, and was also an important historical figure as a critic of the Versailles Peace Treaty after World War I and an architect of the Bretton Woods international monetary system after World War II. 2019 Level: advanced The Elgar Companion to John Maynard Keynes Robert W. Dimand, Harald Hagemann Edward Elgar Publishing Crises are a key part of the history of the global economy. This lesson by Economy Studies introduces students to the crisis management theories of John Maynard Keyens by presenting them in the historical context of the Great Depression, the Post-War increase in the state in managing the economy, and the Energy Crisis of the 1970s. 2022 Level: beginner How to get away with a crisis? - Economy Studies   Economy Studies Political-economic systems define the ways in which the production and distribution of goods and services are organised that shape people’s lives. We live in capitalism, but what does that mean? This essential lecture by Economy Studies helps students develop an understanding of it on the basis of the book Capitalism by Geoffrey Ingham. 2022 Level: beginner Capitalism - Economy Studies   Economy Studies Economics has become a monolithic science, variously described as formalistic and autistic with neoclassical orthodoxy reigning supreme. So argue Dimitris Milonakis and Ben Fine in this new major work of critical recollection. 2009 Level: advanced From Political Economy to Economics Dimitris Milonakis, Ben Fine Routledge This unique up-to-date volume not only provides state-of-the-art discussions of the most recent developments in modern macroeconomics but also includes a series of interviews with leading economists that shed new light on the major intellectual and policy issues of the 1990s. The book is at once an invaluable text and a superb overview that will be welcomed by teachers and students alike. 1994 Level: beginner A Modern Guide to Macroeconomics Snowdon, Brian; Vane, Howard R.; Wynarczyk, Peter Edward Elgar Publishing Ltd This book gives a very clear overview of the history of Macroeconomics and how it has evolved. It reflects on the different perspectives and debates that have defined the field, with valuable insight into the history and theory of economic policy. 2005 Level: advanced Modern Macroeconomics Brian Snowdon and Howard Vane E. Elgar To explain the pronounced instability of the world economy since the 1970s, the book offers an important and systematic theoretical examination of money and finance. 1999 Level: advanced Political Economy of Money and Finance Costas Lapavitsas; Makoto Itoh Palgrave Macmillan