Le silence assourdissant des économistes face au basculement du monde par Olivier Passet

Steve Keen discusses DSGE modeling and microfoundations by asking the question if it is ideologically possible to derive macroeconomics from microeconomics.

Degrowth, post-growth, well-being or steady-state economy? The goal is to rethink a new paradigm that puts society and the environment at the core. "Enough" instead of infinite growth.

This panel is about discussing the international development discipline from a critical perspective, exploring how the current practice entangles with Eurocentric/neo-colonial thoughts and how can we move beyond them.

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.

Always wanted to get your head around that balance-of-payments? This paper explains some key feature of capital flows and the balance-of-payments from a balance sheet perspective: https://www.postkeynesian.net/working-papers/2019/

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.