Reframing and Transforming Economics Around Life
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Notes on Behavioral Economics and Labor Market Policy
Notes on Behavioral Economics and Labor Market Policy Linda Babcock, Carnegie Mellon University William J. Congdon, The Brookings Institution Lawrence F. Katz, Harvard University Sendhil Mullainathan, Harvard University December 2010 We are grateful to Jeffrey Kling for extensive discussions of these topics. We thank the Alfred P. Sloan Foundation and the Russell Sage Foundation for their support of this project. 0. Background and motivation Recent years have been trying ones for American workers. The unemployment rate has reached double digits for the first time in over a quarter of a century. Worker compensation growth has all but stalled. The human costs of labor market turbulence have rarely been clearer, and the value of public policies, such as unemployment insurance and job training programs, that assist workers in managing that turbulence, gaining new skills, and navigating the labor market have rarely been more apparent. And, even in the best of times, the United States’ labor market is a dynamic and turbulent one, with high rates of turnover (over five million separations and five million new hires in a typical month in normal times) but substantial frictions as well. As a result, labor market programs and regulations are key components of economic policy. Such policies help support the unemployed, provide education and training opportunities, and ensure the fairness, safety, and accessibility of the workplace. The challenge for policymakers is to design such policies so that they meet these goals as effectively and as efficiently as possible. Labor market policies succeed in meeting their objectives, however, only to the extent that they accurately account for how individuals make decisions about work and leisure, searching for jobs, and taking up opportunities for education and training. -
Topics in Applied Economics VII: Economic History
Topics in Applied Economics VII: Economic History 2017-2018 Academic Year Master of Research in Economics, Finance and Management 1. Description of the subject Topics in Applied Economics VII Code: 32366 Total credits: 3 ECTS Workload: 75 hours Term: 3rd Type of subject: Optative Department of Economics and Business Teaching team: Claudia Rei (Vanderbilt University) Topics in Applied Economics VII 2. Teaching guide Introduction This course explores topics of interest to economic historians such as the long run international convergence/divergence pattern, institutions and property rights, the industrial revolution, population growth and migration, inequality, and cultural persistence. We focus mostly on the West and the specificities that allowed for its rise so to understand the region’s long-term economic success. To this end, we will first study historical changes in the medieval economy and then focus on the consequences of the industrial revolution. Students will have the opportunity of getting familiar with recent (and not so recent but classic) economic history research, understanding the methodology used in the economic analysis, and applying the economics concepts learned in Micro and Macro Theory Contents The reading list fully based on paper that can be accessed online through the university network. Every paper denoted by * will be discussed by the instructor during the class. Every paper denoted by # will be discussed in class by a student or a group of students. Non-marked papers are listed for interested students who would like to know more on a given topic. Every paper denoted by * or # can be covered in the final exam. THE FIELD OF ECONOMIC HISTORY Carlos, A. -
The Social System of Systems Intelligence – a Study Based on Search Engine Method
In Essays on Systems Intelligence, eds. Raimo P. Hämäläinen and Esa Saarinen: pp. 119-133 Espoo: Aalto University, School of Science and Technology, Systems Analysis Laboratory Chapter 5 The Social System of Systems Intelligence – A Study Based on Search Engine Method Kalevi Kilkki This essay offers an preliminary study on systems intelligence as a social system based on four cornerstones: writings using the terminology of systems intelligence, search engines, models to describe the behavior of social phenomena, and a theory of social systems. As a result we provide an illustration of systems intelligence field as a network of key persons. The main conclusion is that the most promising area for systems intelligence as social system is to systematically apply positive psychology to develop organizational management and to solve our everyday problems. Introduction The social system of systems intelligence is an ambitious topic, particularly for a person without any formal studies in sociology. Moreover, systems intelligence is a novel area of science and, hence, the development of its social structures is in early phase. It is even possible to argue that there is not yet any social system of systems intelligence. The approach of this study is based on four cornerstones: first, the literature that has used concept of systems intelligence, second, search engines, third, models to describe the behavior of social phenomena, and forth, a theory of social systems. As a result we may be able to say something novel about the development of systems intelligence as a social system. As to the social systems this essay relies on the grand theory developed by Niklas Luhmann (Luhmann 1995). -
COMMENTARY to PROFESSOR MURRAY Phil Reed*
COMMENTARY TO PROFESSOR MURRAY Phil Reed* In his article, Professor Murray provides an excellent response to the Business Roundtable’s (BRT) Statement on the Purpose of a Corporation, and outlines the ways that an interested corporation could implement governance changes to reflect the statement. Reactions to the Business Roundtable’s statement, as described by Professor Murray, could be grouped into one of three categories – optimistic praise, supportive pessimism, and blunt opposition. As Professor Murray has done an excellent job of addressing the second category of reactions, supportive pessimism, it falls upon me to address the blunt opposition. I think, however, that there are two modes of opposition to the BRT’s statement. The first mode of opposition is that the signatories of the statement are being insincere in endorsing a commitment to stakeholders, rather than shareholders. The second is opposition to stakeholder theory in the first place. In that view, the BRT should not have issued the statement at all. The sincerity of a signed statement can be readily determined by the behavior of one who signed it. Soon after signing the Business Roundtable’s statement, Amazon-owned Whole Foods made the decision to cut health benefits for part-time workers.1 This move did not do much to inspire confidence in the statement, to put it lightly.2 To the extent that * Phil Reed is a third-year law student at the University of Tennessee College of Law and is scheduled to graduate in May 2020. 1 Bob Bryan, Amazon-Owned Whole Foods’ Decision to Drop Health Benefits for Hundreds of Part-Time Workers Reveals How Promises to Workers Like CEO Jeff Bezos’ Recent Pledge are Worthless, BUS. -
Supply and Demand Is Not a Neoclassical Concern
Munich Personal RePEc Archive Supply and Demand Is Not a Neoclassical Concern Lima, Gerson P. Macroambiente 3 March 2015 Online at https://mpra.ub.uni-muenchen.de/63135/ MPRA Paper No. 63135, posted 21 Mar 2015 13:54 UTC Supply and Demand Is Not a Neoclassical Concern Gerson P. Lima1 The present treatise is an attempt to present a modern version of old doctrines with the aid of the new work, and with reference to the new problems, of our own age (Marshall, 1890, Preface to the First Edition). 1. Introduction Many people are convinced that the contemporaneous mainstream economics is not qualified to explaining what is going on, to tame financial markets, to avoid crises and to provide a concrete solution to the poor and deteriorating situation of a large portion of the world population. Many economists, students, newspapers and informed people are asking for and expecting a new economics, a real world economic science. “The Keynes- inspired building-blocks are there. But it is admittedly a long way to go before the whole construction is in place. But the sooner we are intellectually honest and ready to admit that modern neoclassical macroeconomics and its microfoundationalist programme has come to way’s end – the sooner we can redirect our aspirations to more fruitful endeavours” (Syll, 2014, p. 28). Accordingly, this paper demonstrates that current mainstream monetarist economics cannot be science and proposes new approaches to economic theory and econometric method that after replication and enhancement may be a starting point for the creation of the real world economic theory. -
Decision Making and Keynesian Uncertainty in Financial Markets: an Interdisciplinary Approach
Decision making and Keynesian uncertainty in financial markets: an interdisciplinary approach Ms Eirini Petratou, PhD candidate in Economics division, Leeds University Business School Abstract: This interdisciplinary research examines decision-making in financial markets, regarding secondary markets and financial innovation in Europe, so as to unveil the multiple dimensions of this complexly-layered world of financial interactions. Initially, I synthesise different literatures, including Post-Keynesian economics, behavioural economics and finance, and decision-making theory, in order to shape a more complete understanding of behaviours and outcomes in financial markets. Particularly, I focus on an analysis of Keynesian uncertainty in order to show the need of economic science for interdisciplinary research, on theoretical and methodological levels, and also to highlight potential links between Post-Keynesian theory and behavioural economics. After presenting the active role of decision-making under uncertainty into the creation of financial bubbles, as incorporated in Post-Keynesian economics, I support my argument by presenting findings obtained by a series of semi-structured interviews I conducted in 2016 in the UK, in order to investigate financial traders’ beliefs, perspectives and terminology about decision-making under uncertainty in financial markets. The goal of this qualitative project is to identify market professionals’ beliefs about market uncertainty and how they deal with it, to find out their knowledge about causes of the -
On Israel's "Hyperinflation"
SAE./No.127/September 2018 Studies in Applied Economics ON ISRAEL'S "HYPERINFLATION" Tal Boger Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise On Israel's \Hyperinflation” Tal Boger∗ Johns Hopkins University Institute for Applied Economics, Global Health, and the Study of Business Enterprise. September 2018. Abstract Affected by the worldwide ”Stagflation” of the 1970s caused by sharp oil price rises in 1973 and 1979, Israel experienced elevated inflation rates in the 1970s. These inflation rates not only continued but also accelerated into the 1980s, as Israel saw its inflation hit triple digits at the turn of the decade. This inflation worsened, and peaked in 1984 and 1985. Noticing the sharply rising in- flation rates in Israel, many journalists and academics dubbed Israel's bout of inflation a hyperinflation, and have questioned its exclusion from the Hanke-Krus World Hyperinfla- tion Table. However, an analysis of Israel's CPI data - as reported by the Israel Central Bureau of Statistics - shows that Israel's inflation rates fell short of hyperinflation by a sizable margin. Analyzing Israel's primary CPI data, we find conclusive evidence that Israel did not hyperinflate in the 1980s, despite many credible analyses to the contrary. Keywords: Hyperinflation, Israeli inflation 1. Introduction On October 14, 1984, Hobart Rowen wrote an article for The Washington Post titled \Israel's Hyperinflation: Ravaged State of Economy a Threat to Israel's Survival." In the article, Rowen writes that \[Israel] now must deal with the reality of a hyperinflation that is running over 400 percent, and in a few days may be measured at the incomprehensible level ∗Tal Boger is a senior at Beth Tfiloh Dahan Community High School. -
Citigroup Inc.; Rule 14A-8 No-Action Letter
*** FISMA & OMB Memorandum M-07-16 ENCLOSURE 1 THE PROPOSAL AND RELATED CORRESPONDENCE (IF ANY) ENCLOSURE 2 STATEMENT OF INTENT TO EXCLUDE STOCKHOLDER PROPOSAL The Proposal requests that the Company’s Board of Directors (the “Board”) conduct a comprehensive review of Citigroup’s governance documents, making recommendations to the shareholders on specifically how the “Purpose of a Corporation” signed by our Chief Executive Officer can be fully implemented by board and management, and recommending amendments to governance documents such as the bylaws, Company’s Articles of Incorporation, or Committee Charters to fulfill the new statement of purpose. The Proponent does not reproduce, or really even try to describe, the “Purpose of a Corporation” that is the subject of his Proposal. The Company believes the Proponent is referring to the Statement of the Purpose of a Corporation issued by the Business Roundtable (the “Statement”), which was signed by the chief executive officers of 181 companies, including the Company’s Chief Executive Officer (the “CEO”). The Statement reduces to writing the signatory companies’ commitment to all of their stakeholders, specifically in five areas: (1) “delivering value to the company’s customers”; (2) “investing in our employees”; (3) “dealing fairly and ethically with our suppliers”; (4) “supporting the communities in which we work”; and (5) “generating long- term value for shareholders, who provide the capital that allows companies to invest, grow and innovate.”1 A copy of the Statement is attached hereto as Enclosure 3. THE PROPOSAL MAY BE EXCLUDED BECAUSE IT IS VAGUE AND MISLEADING. The Proposal may be excluded pursuant to Rule 14a-8(i)(3) because the Proposal is vague and misleading.2 The Proposal is vague because stockholders cannot understand the action requested by the Proposal without referring to materials outside the Proposal. -
A Post-Keynesian Approach As an Alternative to Neoclassical in the Explanation of Monetary and Financial System
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Zachariadis, Savvas Article A Post-Keynesian approach as an alternative to neoclassical in the explanation of monetary and financial system Financial Studies Provided in Cooperation with: "Victor Slăvescu" Centre for Financial and Monetary Research, National Institute of Economic Research (INCE), Romanian Academy Suggested Citation: Zachariadis, Savvas (2020) : A Post-Keynesian approach as an alternative to neoclassical in the explanation of monetary and financial system, Financial Studies, ISSN 2066-6071, Romanian Academy, National Institute of Economic Research (INCE), "Victor Slăvescu" Centre for Financial and Monetary Research, Bucharest, Vol. 24, Iss. 1 (87), pp. 21-35 This Version is available at: http://hdl.handle.net/10419/231693 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. -
Economics.Pdf
Economics 1 ECONOMICS Anne B Royalty Associate Professor G Bryan School of Business and Economics Martin Sparre Andersen Dora GichevaG 462 Bryan Building Christopher Aaron SwannG 336-256-1010 Martijn Van HasseltG http://economics.uncg.edu Assistant Professor Anne Royalty, Department Head Nir Eilam Dora Gicheva, Graduate Program Director Marie C. HullG Sebastian Laumer Mission Timothy Ryan Moreland G The Department of Economics supports the teaching, research, and Matthew Arnold Schaffer service missions of the university and the Bryan School of Business and Senior Lecturer Economics. The department’s undergraduate courses and programs G Jeff K. Sarbaum prepare students for the competitive global marketplace, career and professional development, and graduate education. Its innovative Lecturer graduate programs, the M.A. in Applied Economics and the Ph.D. in Eric S Howard Economics with a focus on applied microeconomics, provide students with a mastery of advanced empirical and analytical methods so they can G Graduate-level faculty conduct high-quality research and contribute to the knowledge base in business, government, nonprofit, and research settings. The department • Economics, B.A. (https://catalog.uncg.edu/business-economics/ conducts high-quality nationally recognized research that supports its economics/economics-ba/) academic programs, promotes economic understanding, and fosters • Economics, B.S. (https://catalog.uncg.edu/business-economics/ economic development in the Triad and in the State. economics/economics-bs/) • Economics Undergraduate Minor (https://catalog.uncg.edu/business- Undergraduate economics/economics/economics-minor/) Economics is a discipline concerned with the choices made by people, • Applied Economics, M.A. (https://catalog.uncg.edu/business- firms, and governments and with public policies that affect those economics/economics/applied-economics-ma/) choices including protection of the environment, the quality and cost of health care, business productivity, inflation and unemployment, poverty, • Economics, Ph.D. -
(BAECON) Option in Applied Economics (61 Semester Units) Catalog Fall 2016 Major Catalog Date
Bachelors of Arts in Economics (BAECON) Option in Applied Economics (61 Semester Units) Catalog Fall 2016 Major Catalog Date: Name CIN Last First MI Email Phone Term Admitted Adviser's Signature Date Student's Signature Date SEMESTER - LOWER DIVISION ECON CORE COURSES (15 Units) Prerequisites Completed? ACCT 2100 Principles of Financial Accounting 3 CIS 1200 Business Computer Systems 3 ECON 2010 Principles of Economics I: Microeconomics 3 ECON 2020 Principles of Economics II: Macroeconomics 3 ECON 2010 ECON 2090 Applied Business and Economic Statistics I 3 MATH 0930 or completion of GE B4 SEMESTER - UPPER DIVISION ECON CORE COURSES (15 Units) Prerequisites Completed? BUS1 3050 Business Communication (wi) 3 ECON 3030 Money, Banking, and the Economy 3 ECON 2020 ECON 3090 Applied Business and Economic Statistics II 3 ECON 2090 ECON 4030 Macroeconomics 3 ECON 2020 2 ECON 4910 Data Analysis, Reporting and Presentation 3 See Note 2 Note 1: BUS 3050 is designated as a Writing Intensive (wi) course. A grade of "C" or better is required to satisfy the Graduation Writing Assessment Requirement (GWAR). Note 2: ECON 4910 is the capstone course for the program. Students must take ECON 4910 after they have completed all other required upper division option courses. SEMESTER - OPTION: Applied Economics (31 Units) Semester - Required Lower Division Course (4 units): Prerequisites Completed? MATH 2110 Calculus I 4 MATH 1040 or 1081 & 1083 with C or better grade Semester - Required Upper Division Courses (12 units): Prerequisites Completed? ECON 4010 Mathematical -
1 GEORGE A. AKERLOF Addresses
1 GEORGE A. AKERLOF Addresses: Department of Economics 549 Evans Hall -- #3880 University of California Berkeley, California 94720-3880 (510) 642-5837 E-mail: [email protected] Education: l966 Ph.D., M.I.T. 1962 B.A., Yale University Employment: l980- Professor, University of California at Berkeley 1994- Senior Fellow, The Brookings Institution l978-l980 Cassel Professor with respect to Money and Banking, London School of Economics l977-l978 Visiting Research Economist, Special Studies Section, Board of Governors of the Federal Reserve System l977-l978 Professor, University of California, Berkeley l973-l974 Senior Staff Economist, Council of Economic Advisors l970-l977 Associate Professor, University of California at Berkeley l969-Summer Research Associate, Harvard University l967-l968 Visiting Professor, Indian Statistical Institute 1966-1970 Assistant Professor, University of California at Berkeley Honors and Awards: Senior Adviser, Brookings Panel on Economic Activity Executive Committee of the American Economics Association Vice-President, American Economic Association Associate Editor, American Economic Review, Quarterly Journal of Economics, Journal of Economic Behavior and Organization 2 Co-editor, Economics and Politics Guggenheim Fellowship Fulbright Fellowship Fellow of the Econometric Society North American Council of the Econometric Society Fellow of the American Academy of Arts and Sciences 1990 Ely Lecturer of the American Economic Association Associate, Economic Growth Program, Canadian Institute for Advanced Research