During the last decades, central bank independence proved to be the bedrock of credible and effective monetary policy. Both past and recent history provides plenty of evidence of disastrous outcomes with high inflation and economic stagnation, when central banks – lacking independence – were...

Kurt W. Rothschild, an Austrian economist known for his multiparadigmatic and interdisciplinary approach, made significant contributions to Keynesian and post-Keynesian economic theory. Born in 1914 in Vienna, his work encompassed price theory, labor market economics, growth and distribution,...

This contribution reviews key developments in Kaleckian economics after Kalecki, with a focus on its application to mature capitalist economies. Rather than revisiting interpretations of Kalecki's original work, the contribution highlights subsequent theoretical and empirical extensions. It...

This paper maps the intellectual and institutional landscape of post-Keynesian economics in Germany since the 1970s. It reviews the contributions of academics based in Germany, irrespective of their nationality, to post-Keynesian economics viewed from a broad tent perspective and to the...

We provide a brief primer on how the core of usable macroeconomic theory for monetary policymakers has evolved over the past 50 years. Today's policy discussions center on the New Keynesian (NK) synthesis, which builds on the Neoclassical growth model and the AS-AD framework. It incorporates...

Oskar Lange aimed to conquer, subjugate, and absorb bourgeois political economy into a Marxist basis. By trying to devour non-Marxian economics, he proposed a challenging strategy to fight against capitalist ideology in economic science, which resembles the indigenous ritual of anthropophagy: a...

Available open access digitally under CC-BY-NC-ND licence.Following on from The Hand Behind the Invisible Hand and A Realist Philosophy of Economics, this new book drawn from Karl Mittermaier's writings examines the intricate relationship between economic theory and real-world economic...

This report summarises findings of the project 'Benchmarking the socio-economic performance of the EU social economy', (Call for tenders EISMEA/2022/OP/00159 Lot 1). This study assesses the socioeconomic weight of the 'Proximity and Social Economy' ecosystem and its contribution to a...

This paper examines heterodox theories of the determinants of the value of money. Orthodox approaches that tie money's value to relative scarcity of money or to the price level are rejected as inconsistent with the monetary theory of production embraced by heterodox traditions linked to Marx,...

This report summarises the findings of the project 'Benchmarking the socio-economic performance of the EU social economy'. Across the 27 Member States, the social economy includes more than 4.3 million entities1. Social economy entities are mainly cooperatives, mutual benefit societies,...

I argue that the outbreak of the Great War facilitated a shift in the dominant view of human nature within the Cambridge-Bloomsbury intelligentsia, steering it away from an optimistic view toward a pessimistic one. The conceptualization of human reason and rationality within this group, however,...

Der 300. Geburtstag von Adam Smith bot 2023 die Gelegenheit, sich ausführlich mit Leben, Werk und Nachwirkung des Gründers der modernen Ökonomik zu beschäftigen. Die acht Beiträge dieses Bandes bieten nicht nur einen ausführlichen Überblick über den aktuellen Stand der ökonomischen und...

The article discusses the ongoing debate about a potential paradigm shift in eco-nomics. Institutions like the Institute for New Economic Thinking, the New Economics Foundation, and the Forum New Economy have been established to foster new approaches to understanding and transforming economies....

Das vorliegende Buch vertieft das in Vorlesungen erworbene Wissen zu den Grundlagen der Volkswirtschaftslehre anhand zahlreicher und vielfältiger Übungsaufgaben und bereitet somit auf Klausuren vor. Die fünfte Auflage wurde um eine Reihe zusätzlicher Aufgaben zu aktuellen ökonomischen und...

Fabio Petri's Microeconomics for the Critical Mind (2021) is an impressive tour de force in the field of microeconomic theory. It manifests the author's command of cutting edge analytical tools, concepts, and theoretical approaches both in the mainstream and in the heterodox literature. The book...

This article is the first of a series that offers a new paradigm for economics, the "multilevel paradigm," using generalized Darwinism as its theoretical framework. Generalized Darwinism refers to all processes that combine the ingredients of variation, selection, and replication - not just...

Dem Zusammenhang zwischen wirtschaftswissenschaftlichen Modellen und modelliertem Wirtschaftsleben kommt eine Schlüsselbedeutung bei der Bewältigung gesellschaftlicher Krisen zu. Wenn ökonomische Modellwelten mit anderen Welten interagieren, spricht man von "Performativität". Carsten Damm...

Chapter 1: Macroeconomic Theory: History and Outlook -- Chapter 2: Contemporary Economics and Rational Synthesis -- Chapter 3: China’s Stories and Innovation in Economic Theory -- Chapter 4: Rational Synthesis Economic Model and Policy Framework -- Chapter 5: Economic Growth Theory: Evolution,...

Chapter 1: Introduction -- Chapter 2: What is freedom? A review of the prevailing perspectives -- Chapter 3: Freedom as Social Cooperation (FSC) -- Chapter 4: FSC as a theory of liberal democracy: the political system -- Chapter 5: FSC as a theory of liberal democracy: The economic system --...

"We live at a time when the frenzied pursuit of economic growth is jeopardising the planet's viability and our very survival as a species. How did we get to this point in human history? How did we allow the pursuit of growth to become the apotheosis of human development?"

"Austrian economics is a distinct heterodox tradition in economics. Coyne and Hall tell the story of the key thinkers and ideas in the Austrian school of economics, demonstrating the tradition's ongoing relevance to a wide range of contemporary issues."

"Eminent political economists Ian Budge and Paul Whiteley make a forceful case for bringing the state back into economic planning for better economic and political outcomes. They do so primarily by calling attention to the shortcomings of normative assumptions about how economic actors ought to...

Chapter 1: Introduction -- Chapter 2: Maxwell's Approach to Information and Energy -- Chapter 3: Complexity, Entropy, and Information Processing in Physics -- Chapter 4: Divisions in Labor -- Chapter 5: Historical Roots of Infodynamics -- Chapter 6: Emergence, Multidimensional Systems, and...

1. Introduction -- 2. Weaknesses in Economics and Economic Education -- 3. Basics of Political Economy -- 4. Modeling the Image of Man -- 5. The Functioning of Market and Competition -- 6. Theory of Economic Systems -- 7. Market Failure -- 8. Political Failure -- 9. Competition Policy -- 10....

Diese Studie untersucht, von welchen Einflussgrößen die Nachfrage nach Festnetzanschlüssen in Deutschland abhängt und welche Bestimmungsfaktoren sich für eine räumlich disaggregiert Modellierung eignen. Es sind verschiedene Themenkomplexe, die in diesem Kontext eine Rolle spielen. Dazu...