The Nobel Factor: The Prize in Economics 50 Years On
We know that although economic theory may be speculative, its impact is powerful and real. Since the 1970s, it has been closely associated with a sweeping change around the world—the
Diversity and Excellence: Not A Zero Sum Game
The lack of pluralism of economic theories and methodologies has been a problem for a long time, but it became particularly obvious in the wake of the global financial crisis.
Neoliberalism’s Demons
By both its supporters and detractors, neoliberalism is usually considered an economic policy agenda. Neoliberalism’s Demons argues that it is much more than that: a complete worldview, neoliberalism presents the competitive marketplace
Science and Subterfuge in Economics
Mainstream economics has a tendency to decide on some “established” conclusions, and then hold to them, notwithstanding all evidence to the contrary. This is bad enough, but what may be
Kidnap: Inside the Ransom Business
Kidnap for ransom is a lucrative but tricky business. Millions of people live, travel, and work in areas with significant kidnap risks, yet kidnaps of foreign workers, local VIPs, and
Is the Opioid Overdose Crisis a Story of Supply or Demand? Depends Where You Look
Economic distress in rural areas and opioid exposure in cities are key indicators of overdose deaths. Over the past two decades deaths from opioids and other drugs have grown to
Foundations of Real-World Economics: What Every Economics Student Needs to Know
The 2008 financial crisis, the rise of Trumpism and the other populist movements which have followed in their wake have grown out of the frustrations of those hurt by the
The Unreal Basis of Neoclassical Economics
Ten years after the financial crisis, we still find mainstream economists engaging in overly simplistic analysis that does not accurately capture the dynamics of the real world. People studying economics
They think it’s all over
Our main political parties see a reputation for economic competence as key for achieving power. The Tory party is reportedly scared that a Brexit disaster will destroy its reputation, which
Disruptive influences
“We input pluralist economics perspectives and now it is designing a space craft to leave earth.” Teaching isn’t what is used to be. Exams need to be the same. Nigella Vigoroso-Heck
Heterodox economics: having a laugh
What is the pedagogical role of performance? Can improvisation inspire? And should silliness support learning about sustainability? Gill Seyfang thinks so, and she’d like to tell you why. Teaching complex
Economic Growth: Our modern day religion?
For around half a century ecological economists such as Herman Daly have been seeking to win over the economics profession to the recognition that the economy is a subsystem of
What Economic Reform should have looked liked
The turn to economic liberalisation from the 1970s on used ideas from the academy to address the problems of over-regulation and economic policy making by deal doing. But once underway,
Reigning Men
Teresa Linzner spoke to people and ran a survey to look into why so few economists were women. There is no reason other than most of them are men. Quick.
Kids today
As the latest cohort of the Network Generation leave school, shirts daubed with fond farewells, Nigella Vigoroso-Heck ponders their futures. There’s a lot of stress before the start of school
Economics: No More Experts Anymore?
A special public panel discussion with John Kay, Ann Pettifor, Angus Armstrong and Josh Ryan-Collins, chaired by Alan Penn, Dean of the Bartlett, UCL. Part of our 10 years after
Challenging “Nudge Economics”: Reframing the market as a community of advantage
‘Nudge economics’ has created a lot of interest and had a lot of influence most recently with a Nobel prize for Richard Thaler. Prof Robert Sugden, an eminent behavioural economist
Shut Down the Business School
Business schools are institutions which, a decade after the financial crash, continue to act as loudspeakers for neoliberal capitalism with all its injustices and planetary consequences. Little seems to
Basic Instincts
The value of a human life becomes clear. At last my old colleague, Felix Price, deigned to visit me last week after almost two years of retirement. I have to
The leaning in learning
Nigella Vigoroso-Heck is inclined to avoid bias. Our students will probably leave school with an economic mindset that reflects the biases of their teachers. I haven’t always worked at the
Good counsel
Socially-driven entrepreneurs are partnering with a new breed of corporate lawyer with interests that go beyond bunce for shareholders. Nina Boeger writes. UK company law makes two things clear. First,
Applied Pluralism: The Case of Finance
There has been much recent debate also in the UK around the state of the economics profession. Prospect magazine published a piece by Howard Reed proposing that we need to
How Economics Professors can stop failing us
Steve Payson, an US economics practictioner of long standing, talks about his book ‘How Economics Professors Can Stop Failing us’ which provides an eye-opening expose on economics professors that will
Health economics: a prognosis
Is established thinking in economics up to the challenges presented by healthcare provision? Geoffrey M. Hodgson conducts and examination. “Health economics would seem to be a perfect topic for heterodox
Educating neater
Nigella Vigoroso-Heck confesses putting failure into teaching market failure and laments the scope available in A level economics courses. Market failure is one of my favourite concepts to teach. Nestled
The one and only
According to his website, Doctor Yoram Bauman is the world’s first and only stand-up economist. He tours the world entertaining not only economists but also bankers and lawyers. He has
Gamekeeper turned Revolutionary
Angus Armstrong is now leading a centre charged with the task of restoring the relevance of macroeconomics following its failure to see the possibility of the 2008 crash. And he
Post Brexit, What should our approach to trade be?
As the UK launches into negotiating free trade deals with anyone who will have us and Joe Stiglitz tells not to ‘waste our time’ negotiating with Trump, what should our
Annulus mirabilis
Raworth: I’m not a serious academic; I’m a serious activist. Kate Raworth has, in her blend of new economic thinking, served up a printed equivalent of hot cakes with her
Do macroeconomists have morals?
Humans perceive symbols and narratives that have meanings (rather than process information). What might economists want with anthropologists? Laura Bear offers a few suggestions. As an anthropologist among the tribe