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Not TINA (There Is No Alternative) but TAPAS: THERE ARE PLENTY OF ALTERNATIVES
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Changing the rules or changing the game?

Changing the rules or changing the game? | real utopias | Scoop.it
I’ve just been to a lecture by Professor Joseph Stiglitz as part of a series organised by the British Labour Party on ‘new economics’.  The lecture series is designed to raise the level of economic debate and for the new range of economic advisors to the Labour Party to come up with ideas.  Joseph Stiglitz…
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Investment, investment, investment

Investment, investment, investment | real utopias | Scoop.it
This blog continually hammers home the view that it is investment not consumption that is the key to economic growth.  Fluctuations in business investment in a predominantly business, profit-making economy decide, in the first analysis, whether output expands or contracts; whether there is a boom or slump.  This view is contrary to that of Keynesian economics,…
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Social Democracy for the 21st Century: A Post Keynesian Perspective: Steve Keen on Austrian Economics

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Social Democracy for the 21st Century: A Post Keynesian Perspective: Steve Keen on Equilibrium Theory as a Bad Habit

Steve Keen on Equilibrium Theory as a Bad Habit #economics #feedly http://t.co/9pl1u7l5mb
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The Institute for New Economic Thinking

The Institute for New Economic Thinking | real utopias | Scoop.it

Nobel laureate Stiglitz, author of The Price of Inequality and The Great Divide, studies the forces driving inequality and what is at stake if it continues. In his view, bad economic thinking deserves part of the blame — fanciful ideas like trickle-down and the notion that economists should try to increase the size of the economic pie and let the politicians worry about distribution. On the contrary, Stiglitz sees distribution as a problem economists must confront. He warns that an economic system that doesn't raise standards of living for most Americans is a failure.

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Even Adam Smith Didn’t Trust the Invisible Hand, with Thomas Piketty

In this Big Think interview, economist Thomas Piketty delves into several common misconceptions about free market economics. Piketty argues that strong public ...
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The Economy Sucks, Now What? - CounterPunch

The Economy Sucks, Now What? - CounterPunch | real utopias | Scoop.it

Periodically, the New York Times publishes sobering long-form articles depicting the economy in dark tones that clash with their more upbeat business page reportage. For example, the NYT recently noted a pollindicating the decline of belief in The American Dream – Many Feel that The American Dream is Out of Reach, Poll Shows (December 10, 2014). While the poll showed a trend towards disbelief in attaining the American Dream, I was depressed to learn that 64 percent still believe “… it is possible to start out poor in this country, work hard and become rich.” This means that more Americans believe in the Dream than believe in the Devil.

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Class Interests as Economic Theory - CounterPunch

Class Interests as Economic Theory - CounterPunch | real utopias | Scoop.it

There is now a widespread consensus that mainstream/neoclassical economists failed miserably to either predict the coming of the 2008 financial implosion, or provide a reasonable explanation when it actually arrived. Not surprisingly, many critics have argued that neoclassical economics has created more confusion than clarification, more obfuscation than elucidation. Economic “science” has, indeed, become “an ideological construct which serves to camouflage and justify the New World Order” [1].

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Class Interests as Economic Theory » CounterPunch: Tells the Facts, Names the Names

Class Interests as Economic Theory » CounterPunch: Tells the Facts, Names the Names | real utopias | Scoop.it

There is now a widespread consensus that mainstream/neoclassical economists failed miserably to either predict the coming of the 2008 financial implosion, or provide a reasonable explanation when it actually arrived. Not surprisingly, many critics have argued that neoclassical economics has created more confusion than clarification, more obfuscation than elucidation. Economic “science” has, indeed, become “an ideological construct which serves to camouflage and justify the New World Order” [1].

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The Future of Work, Leisure, and Consumption... - Dollars & Sense

The Future of Work, Leisure, and Consumption... - Dollars & Sense | real utopias | Scoop.it

Economist Juliet Schor is known worldwide for her research on the interrelated issues of work, leisure, and consumption. Her books on these themes include The Overworked American: The Unexpected Decline of LeisureThe Overspent American: Upscaling, Downshifting, and the New Consumer, and Plenitude: The New Economics of True Wealth (retitled True Wealth for its paperback edition). She is also a professor of sociology at Boston College. —Eds.

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Noam Chomsky (2014) "How to Ruin an Economy; Some Simple Ways" - YouTube

Noam Chomsky spoke at Third Boston Symposium on Economics on February 10th 2014, sponsored by the Northeastern University Economics Society http://www.northeastern.edu/econsocie... in Boston, MA.

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The Financial Times Slams 'The World's Dumbest Idea' - Forbes

The Financial Times Slams 'The World's Dumbest Idea' - Forbes | real utopias | Scoop.it

Good news! The Financial Times has come out forcefully against maximizing shareholder value. The article declares that we have made a mess of the way companies are run.

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Recognizing The Illusion Of 'Homo Economicus' - NPR (blog)

Recognizing The Illusion Of 'Homo Economicus' - NPR (blog) | real utopias | Scoop.it


Standard economic theory assumes that humans behave rationally and are able to objectively calculate the value (or cost) of the different choices they are presented with.

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▶ Joseph Stiglitz: Crawford School Oration 2014 - YouTube

In this landmark lecture entitled 'Crisis averted? Lessons from the Global Financial Crisis' Nobel Laureate and distinguished Fellow of the Asia & the Pacific Policy Society, Professor Joseph Stiglitz, examines the origins of the GFC, analyses the economic policy responses and discusses whether the crisis really has been averted. He also looks at what's right, and wrong, with contemporary policy stances.

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What Stiglitz Misses On Inequality: The Responsibility Of Economists - Forbes

What Stiglitz Misses On Inequality: The Responsibility Of Economists - Forbes | real utopias | Scoop.it

Yet there is one category of actor curiously missing from Stiglitz’s list of villains: his fellow economists. There is no mention for instance that it was the winner of the Nobel Prize for Economics, Milton Friedman, whose New York Times article on September 13, 1970, “The Social Responsibility of Business is to Increase its Profits”, launched the idea that corporations should focus solely on making money for themselves and the shareholders, and basically, to hell with everyone else.

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The Economic Crisis & Crisis Theory II | Michael Hudson

The Economic Crisis & Crisis Theory II | Michael Hudson | real utopias | Scoop.it

This panel explored causes of the Great Recession and the continuing economic sluggishness since the recession’s ended, as well as how the left can respond to this situation. In keeping with the conference theme, panelists addressed what different analyses and theories imply about the kind of socioeconomic change that is called for.

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Dead Economic Dogmas Trump Recovery: The Continuing Crisis in the Eurozone Periphery

Dead Economic Dogmas Trump Recovery: The Continuing Crisis in the Eurozone Periphery | real utopias | Scoop.it

In the four bailed-out countries of the European periphery, there is not a trace of solid evidence that the austerity / structural reforms / export-led growth approach insisted upon by the EU and the IMF has paid any solid economic or social dividends, yet it is hailed as a "success."


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Paul Mason: what would Keynes do? - New Statesman

Paul Mason: what would Keynes do? - New Statesman | real utopias | Scoop.it


I call this – following economists as diverse as Peter Drucker and David Harvey – post-capitalism.

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Piketty's focus on inequality may also set a blueprint for the study of economics - The Conversation

Piketty's focus on inequality may also set a blueprint for the study of economics - The Conversation | real utopias | Scoop.it


A critical assessment from the left has come from David Harvey, a Marxist professor at the City University of New York.

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Why economics needs a revolution - mydigitalfc.com

Why economics needs a revolution - mydigitalfc.com | real utopias | Scoop.it

In the field of economics, it’s not easy to keep an open mind. That, at least, is the conclusion one might draw from the experience of a lecturer at the University of Manchester named Sakir Devrim Yilmaz.

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There are good alternatives to capitalism - Financial Times

There are good alternatives to capitalism - Financial Times | real utopias | Scoop.it


This was followed up by a Royal Society of Arts and Manufactures three-year study called “Tomorrow's Company” that frankly did not get beyond platitudes.

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Apolitical Economy: Democracy and Dynasty - CounterPunch

Apolitical Economy: Democracy and Dynasty - CounterPunch | real utopias | Scoop.it

Inequality and its corrosion of the body and the soul of capitalist societies has been the hottest topic among respectable liberal economists and political analysts in the United States since the crisis of September 2008. To be sure, Left economists have been tracing the twin scourges of flatlined real wages and widening inequality since the mid-1970s. But it took a major economic shock to move the most prominent and acute liberal pundits finally to bring the issue to the front of the line. Widely read liberal economists have over the last four years written books on the evils of inequality: Joseph Stiglitz’s The Price of Inequality, James Galbraith’s Inequality and Instability, Robert Reich’s Aftershock, and its theatrically released dicumentary replica, Inequality For All, and Paul Krugman’s End This Depression Now! are only the most conspicuous of the outpourings of lamentation over what is now perfectly evident as inequality on the move – the gap between the very wealthy and the rest is entrenched and continuously widening. The embedded and worsening nature of capitalist inequality, and the kind of society it is creating, is one of the major foci of Thomas Piketty’s much-heralded book, Capital in the Twenty-First Century.

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The real economy is finally doing better than the money economy - The Term Sheet: Fortune's deals blogTerm Sheet

The real economy is finally doing better than the money economy - The Term Sheet: Fortune's deals blogTerm Sheet | real utopias | Scoop.it

Michel explains what the FLOK Society is and how it can help Ecuador to become a p2p and commons-oriented society. At the end of May the proposed policies of FLOK will be presented amongst politicians from Ecuador and the whole of South America as well as civic society.

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Economics has had a significant rethink since the financial crisis, but ...

Economics has had a significant rethink since the financial crisis, but ... | real utopias | Scoop.it

The financial crisis which began in 2007 prompted a number of changes in academic approaches to economics. As Mick Moran writes, however, political science has not experienced the same level of introspection, despite the crisis also offering challenges to the discipline. He argues that the reasons for this lie in the historical mission of political science and in its established intellectual practices.


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The Relevance of Marxian Economics Today | The Socialist Party of Great Britain

The Relevance of Marxian Economics Today | The Socialist Party of Great Britain | real utopias | Scoop.it

I was 12 years old in 1968, a moment of tremendous radical ferment, and I immediately identified with all of the forces struggling for freedom. I don’t remember whether I immediately identified with socialism, too – in the environment of the time, immediately linking the two would have been rather natural – or whether that took a bit of reading and thinking.

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Curated by jean lievens
Economist, specialized in political economy and peer-to-peer dynamics; core member of the P2P Foundation