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Conclusion: Economics for a Postcapitalist Economy
The conclusion of this book demonstrates that for a more stable, sustainable economy after the financial crisis and the COVID-19 crisis, we need...
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Marginal Economics
This chapter introduces mainstream economics. Marginal (or marginalist) theory is based on a harmonic view of income distribution, unlike the...
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Economic Inequality & Employment
Chapter 7 continues to examine the social impacts of technology, including changes to employment, the...
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Economics: A Political and Mathematical Discipline
This introductory chapter discusses the nature of the economic discipline. Economics has to do with the production and reproduction of the material...
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The Economics of Migration
Immigration is not always beneficial to a nation’s economy, nor is it always detrimental. The key factor in determining if immigration will be a net...
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The Incomplete Revolution
This chapter deals with Keynes’s critique of marginalist theory. Keynes questioned the idea that market flexibility leads to full employment. He...
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Applied Complexity: Finance and Economics in a New Light
The Scientific and theRevolutionindustrial Industrial RevolutionsIndustrial revolution have changed the face of the Earth forever. Today, we enjoy...
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The Initial and Final Effects of Monetary Policy on Inflation, Output, and (Un)employment
This chapter deals with the macroeconomic effects of monetary policy. Specifically, a distinction is made between economic effects in the...
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Science and Economics: A Complex Relationship
The relationship between science and bourgeois capitalism is interesting, and there is no consensus on which is the most important for scientific and...
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Scenarios and Trends of the Future
Are we humans freely choosing our future societal and economic organization, or does our organization emerge in response to physical laws as we...
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Energy and Economic Narratives
This chapter introduces the reader to the concepts and ideas within the book. A real-world story of a Texas town voting on whether to allow natural...
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A Moral Superpower
Sweden has taken in more refugees than any comparable country. The reason for this state of affairs is not circumstances beyond Swedish control...
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Nicolai J. Foss Recommends “Economics and Identity” by George A. Akerlof and Rachel E. Kranton
Social identity has entered the discourse of social scientists, pundits, and politicians to an extent that no one could have anticipated only about a...
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Misadventures of Dismal Science
Underlying the euro, there were some misadventures in economics. The first misadventure was the overemphasis of the theory of optimum currency area,...
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Chapter 7: Amartya Sen on Financial Capabilities
This chapter discusses Amartya Sen’s capability approach in relation to financial capabilities. It zooms in on the behavioural dimensions behind the...
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Chapter 8: Gunnar Myrdal on Social Vulnerability
This chapter discusses the work of Gunnar Myrdal, the Swedish economist who was as one of the founders of the Swedish welfare state. His work centres...
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Social Exclusion
The term “social exclusion” is broader than “poverty,” and in addition to a lack of material resources encompasses concepts such as low social and...
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Chapter 3: John Maynard Keynes on Debt and Demand
This chapter discusses the insights from John Maynard Keynes about crises. He introduced a behavioural explanation of booms and busts with the help...
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The Impact of the Broadband Internet on Employment
This chapter argues that, based on the evidence, broadband contributes to the creation of jobs in certain industries and geographies, while also...
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Labor Markets in the Digital Economy: Modeling Employment from the Bottom-Up
Four studies on ICT labor markets show how technology makes a difference to growth. Different skills are entrenched into the broader economy in their...