Economics of Innovation

Es ist immer noch zweifelhaft, ob Ökonom*innen mit ihrem Instrumentarium die nächste Wirtschaftskrise vorhersagen können. Als erster Grund ist dafür der nicht-systemische Status von Krisen in Mainstream-Theorien zu nennen. Zweifelsohne entwickeln empirisch arbeitende Makroökonomen Warn-Indikatoren für Finanzkrisen (Schularick und Taylor 2012), es gibt auch makroökonomsiche Modelle, die Krisendynamiken aufgreifen (Kumhof et al. 2015) und Debatten im Mainstream der VWL über den richtigen Umgang mit der Mathematik (Romer ABC).

Why is mainstream economics in crisis? How can a pluralism of perspectives help to solve it? And why should you care? Join this guided tour through the complex landscape of economic thinking from philosophy of science to pedagogical innovations! https://unsplash.com/photos/1-29wyvvLJA

This is an introductory lecture to Stock-Flow Consistent (SFC) modelling. Antoine Godin presents this family of macroeconomic models, which is based on a rigorous accounting framework and guarantees a correct and comprehensive integration of all the flows and the stocks of an economy. SFC models focus especially on interactions between …

The article pursues the two related questions of how economists pretend to know and why they want to know at all. It is argued that both the economic form of knowledge and the motivation of knowing have undergone a fundamental change during the course of the 20th century. The knowledge of important contemporary economic textbooks has little in common with an objective, decidedly scientifically motivated knowledge. Rather, their contents and forms follow a productive end, aiming at the subjectivity of their readers.