Hayek proposed the abolition of the government’s monopoly on the issuance of fiat money in his book “Denationalisation of Money: The Argument Refined” (1976). In reality, his support for a complete privatization of the money supply stemmed from his dissatisfaction with the management of central banks, which, in his opinion, had been heavily influenced by… Read More The crypto frontier of financialisation

According to ILO, the COVID-19 epidemic was changed from a public health disaster to an employment and social crisis. The pandemic has had a devastating impact on worldwide public health, employment, and daily life. In this scenario, a lack of comprehensive policy initiatives exacerbates inequality and limits overall workplace growth. Among the most significant labor-market… Read More Global labour landscape: public health and employment crisis

One of the consequences of the present vaccine environment is the increasing need of understanding of the role nudges in encouraging people to comply with government initiatives. For instance. to effectively nudge behaviour, the Fogg Behavior Model (behaviormodel.org) combines three elements: They must initiate, facilitate, and motivate behavior. capacity to act, incentive, and a cue.… Read More Vaccination, cognitive bias and behavioural economics

FROM DAVE TAYLOR Looking now at anticipations of Shannon’s information systems in recent economic research, Maria Madi found American pragmatist C. S. Peirce studying scientific logic cycles and semiotics (signalling) in 1873.  In the latest Real Word Economic Review, Katherine Farrell found Marshall starting economics from everyday life (small is beautiful) instead of the funding… Read More Learning to Re-envisage the Economy (Part 2)

FROM DAVE TAYLOR After the invention of printing, pedagogy began with Machiavelli’s The Prince teaching politicians to lie, and Francis Bacon’s The Advancement of Learning advising a new king to develop an encyclopedia of science “for the glory of God and the relief of Man’s estate” by “taking things to bits to see how they… Read More Learning to Re-envisage the Economy (Part 1)

In the 1960s, Hayek argued that: “in the field of complex phenomena, the term” law “, as well as the concepts of cause and effect, are not applicable”. Regarding “The Theory of Complex Phenomena”, Hayek warned that in the case of complex phenomena, the scientist must give priority to the development of theoretical assumptions, instead… Read More Complexity and economic laws

TRADE WARS AFTER CORONAVIRUSEconomic, political and theoretical implicationsA webinar from the WEA Friday May 28, 2021.   5pm-7pm,  London Time.    LINK:  meet.google.com/nxr-ucuj-agf      1. WELCOME. Maria Alejandra Madi, Chair WEA Conference Programme 2. PRESENTATIONS America’s Trade Deficits: Blame U.S. Policies – Starting with Tax LawsKenneth E. AustinUniversity of Maryland The interplays of… Read More WEA WEBINAR THIS WEEK: TRADE WARS

TRADE WARS AFTER CORONAVIRUSEconomic, political and theoretical implicationsA webinar from the WEA Friday May 28, 2021.   5pm-7pm,  London Time.    LINK:  meet.google.com/nxr-ucuj-agf     1. WELCOME. Maria Alejandra Madi, Chair WEA Conference Programme 2. PRESENTATIONS America’s Trade Deficits: Blame U.S. Policies – Starting with Tax Laws Kenneth E. AustinUniversity of Maryland The interplays of… Read More WEA WEBINAR THIS WEEK: TRADE WARS AFTER CORONAVIRUS

The current vaccination scenario calls for a reflection on the conceptualization of underdevelopment as a process of dependency. Nowadays, to understand the big picture of the production and trade of vaccines, for instance, it is necessary to consider the analysis of the dynamics of the world-wide capitalist system. Indeed, the access to vaccines has put… Read More Vaccines and underdevelopment as dependency

While the study of wicked problems is not new, there is a need to develop a broader understanding of its scope in policies under the paradigm of complexity. The origin of the term “wicked Problem” goes back to Rittel and Webber’s (1973) questioning of the validity of technical-scientific approaches in social policy and urban planning.… Read More WICKED PROBLEMS IN ECONOMIC POLICY