Tag Archives: economics

What is Economics? Read Keynes’ definition

In July 1938, an English economist Roy Harrod sent John Maynard Keynes his lecture “Scope and Method of Economics” which he intended to deliver as a Presidential Address at one of the sections of the British Association. In his reply, after … Continue reading

Posted in Oleg Komlik, Papers | Tagged , | 2 Comments

Market Forecasting: A Sensitive Practice at the Heart of Neoliberal Capitalism

by Stefan Leins* Since the emergence of modern financial markets, financial analysts have played a critical role in producing visions of “the economy” and its future development. As experts, they analyze market developments and predict future scenarios that enable other financial … Continue reading

Posted in Books, community members posts | Tagged , , , , , , | Leave a comment

Foucault: Neoliberalism is not laissez-faire, but permanent vigilance, activity, and intervention

The following Michel Foucault’s sharp insights on neoliberalism were presented during his lecture series “The Birth of Biopolitics” at the Collège de France in 1979 — a few months before Thatcher and Reagan took power, but several decades after Walter Lippmann, … Continue reading

Posted in Books | Tagged , , , , | 1 Comment

Paul Samuelson: Chicago is not so much a place as a state of mind

In 1954 a future Nobel laureate in economic sciences Paul Samuelson published one of his seminal articles “The Pure Theory of Public Expenditure”, which formalized the concept of public goods (which he called “collective consumption goods”) — i.e. goods that … Continue reading

Posted in Oleg Komlik, Papers | Tagged , , | Leave a comment

Is Homo Economicus Dead?

by Peter Fleming* In Martin Scorsese’s film The Wolf of Wall Street the narcissistic, egotistical and money hungry investment banker Jordan Belford memorably summed up his attitude to life: “Let me tell you something. There’s no nobility in poverty. I’ve been … Continue reading

Posted in Books, community members posts | Tagged , , , , | Leave a comment

The Pricing of Progress and the Origins of GDP

by Eli Cook* In the past few years, roughly half a dozen books have come out examining the meteoric rise and profound impact of Gross Domestic Product (GDP). An economic indicator that measures the money-making capacities of a nation by … Continue reading

Posted in Books, community members posts | Tagged , , , , | 1 Comment

Giddens: We are suffering from ‘cosmopolitan overload’ and a huge task lies before us – to create responsible capitalism

by Labinot Kunushevci* From the editor: The following interview with a distinguished British sociologist and political thinker Lord Anthony Giddens is interesting from various perspectives. The interview is part of the forthcoming book by Labinot Kunushevci featuring his conversations with renowned social scientists. The emphases … Continue reading

Posted in community members posts | Tagged , , , , , , | 2 Comments

Neil Smelser: “Economic sociology, intellectually, is one of the strongest fields in sociology”

A brilliant and influential sociologist Neil Smelser passed away on Monday at the age of 87, leaving behind an extraordinary intellectual legacy. Among many contributions during his prolific academic career, unparalleled in its diversity and breadth (in social change, social movements, sociology … Continue reading

Posted in Books, Oleg Komlik | Tagged , | 2 Comments

The Art of Central Banking (3) — No working theory of inflation and economists’ instinctual attachment to concepts

Daniel K. Tarullo, a former member of the Board of Governors of the United States Federal Reserve, draws two sharp and sound, yet unsurprising, conclusions from his eight-year (2009-2017) service:  “The substantive point is that we do not, at present, have a … Continue reading

Posted in Economists quotes on economics | Tagged , , , | 3 Comments

Economics to Sociology Phrasebook

In 1990, two economics PhD students at University of Chicago, Jeffrey A. Smith and Kermit Daniel, got bored hanging out with their fellow tiresome economists and boldly decided to graze in new attractive fields. Sensibly skipping over political scientists and anthropologists, Smith and Daniel (the … Continue reading

Posted in joke, Oleg Komlik | Tagged , | 7 Comments