Monthly Archives: April 2014

The Bank of England’s “‪‎Money‬ Creation in the Modern ‪‎Economy‬” erodes the mainstream ‪economics‬ and ‪‎finance‬ theory

Money creation in practice differs from some popular misconceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up’ central bank money to create new loans and deposits. … Continue reading

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Reviews of 6 interesting books on housing, urban policy, privatisation of cities and homelessness

Reading list of 6 books about housing, urban policy and future of our cities from LSE Review of Books.

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“Insurgent Capitalism: Island, Bricolage and the Re-making of Finance” by Donald MacKenzie & Juan Pablo Pardo-Guerra

Drawing on recent discussions of the material cultures of markets and of financial innovation as bricolage, this paper explores the development of Island, a new share trading venue set up in 1995. The paper examines Island’s roots in a very specific conflict … Continue reading

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‪Piketty‬, ‎Krugman‬ & ‪‎Stiglitz‬ talk about Piketty’s ‪‎”Capital‬ in the 21st Century”

I always say that ‪‎economists‬’ duty for the ‪‎wealthy‬ is not ingrained in the genetic code of their profession. In general, I would say, these scholars embody this argument.  

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The Economic Sociology and Political Economy community reached 17,000 members

“Oh, figures!’ answered Ned. ‘You can make figures do whatever you want.” (Jules Verne, 20,000 Leagues Under The Sea). Jules Verne was one of my favorite childhood writers– I’ve devoured his books with even greater curiosity than his protagonists were … Continue reading

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What ‪Money‬ Wants: An ‪Economy‬ of Desire

What in everyday life is an obvious truth, namely, that in some sense or another, people want money— is basically unthinkable in economic terms. Herein lies the starting point for the main argument of What ‪Money‬ Wants: An ‪Economy‬ of … Continue reading

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Economics professor: Economic models are wrong and invalid, but simple and useful

“The models [in economics] are all wrong. Many people have emphasized that point… That’s what makes economics different. These things are all invalid, but we work with wrong models because they are simple, and – of course – because they … Continue reading

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The development and transformation of clusters and industrial sectors in East and Southeast Asia

This new interesting volume Clusters and Economic Growth In Asia edited by Sören Eriksson (Jönköping University) deals with a number of important issues including the increasing relevance of cluster policies and the need to understand them in the context of the institutional … Continue reading

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How much did internationally promoted ideas about supervisory ‘best practice’ influence institutional design choices?

Who is watching the finance industry? There have been multiple waves of thought about whether the ministry of finance, the central bank, a specialized regulator or some combination of these should have supervisory authority. These waves have been associated with the convergence … Continue reading

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A ‪joke‬ from Mario Draghi, the President of the European Central Bank ;-)

A man needs a heart transplant. Says the doctor: “I can give you the heart of a five-year old boy.” “Too young.”“How about that of a forty-year old investment banker?”“They don’t have a heart.”“A seventy-five year old central banker?” “I’ll take it!”“But … Continue reading

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“Politics in the Age of Austerity” analyzes the dilemmas governments face as they seek to reconcile the conflicting demands of voters and ‘the markets’

This insightful volume, edited by Wolfgang Streeck and Armin Schafer, is an important contribution to the contemporary literature on the political economy of the advanced capitalist countries. In a world of increasing austerity measures, democratic politics comes under pressure. With … Continue reading

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Fascinating Story of Basic Income: A Town without Poverty, with Better Well-being and Health

Try to imagine a town where the government pays each of the residents a living basic income, regardless of who they were and what they did. For a four-year period in the 1970s, families in Dauphin, a small rural town … Continue reading

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“Bank Behaviour and Resilience: the Effect of Structures, Institutions and Agents” challenges conventional thinking about the varieties of capitalism

Why were banking sectors in ‘liberal’ and ‘coordinated’ market economies with similar financial systems, operating under the same set of global rules, more resilient than others during the Global Financial Crisis? Building on the rich body of knowledge in institutional analysis and … Continue reading

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“Inequality for All” – a documentary featuring Professor Robert Reich

Economic inequality affects every one of us. “Inequality for All” is a passionate argument on behalf of the poors and middle class in which Robert Reich- a political economist and Secretary of Labor under Bill Clinton lucidly demonstrates how the … Continue reading

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What is the Economic Sociology and Political Economy community? What are its goals? Why and How did it started?

You are welcome to read an interview where I deal with these questions ans tell the ES/PE community’s history, published in Accounts- the newsletter of the American Sociological Association’s Economic Sociology section that as always has interesting pieces. This is … Continue reading

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