Interesting interview with professor Steve Keen, where he explains the role of debt in GDP (not currently included in economic models). He models the effects on lending acceleration and repayment options (slow vs. fast) in economic cycles and explains how he was able to successfully predict the 2008 economic crisis. Contrary to traditional Western fiscal … More Modern Economic Theory for the Digital Economy
via Reducing risks in urban centres: think ‘local, local, local’ | International Institute for Environment and Development Urban centres can be among the world’s most healthy places to live and work – but many are among the least. How healthy they are is powerfully influenced by local government competence, local information, and support for local … More Urban Reducing Risks in Urban Centres: Think ‘local, local, local’
David Sloan Wilson has an interesting blogpost about modern evolutionary theory and economics in which he compares the ideas in a highly intelligent 1996 speech about this by Paul Krugman with subsequent developments in evolutionary theory. It reminds me a little of the early twentieth century ideas of Kropotkin (see this post on this blog): “Kropotkin … noticed that groupings of species thrived through cooperation. Researching human settlements in Siberia, Kropotkin likewise noted cooperation and mutual aid as the foundation for dealing with the larger struggle for survival against natural challenges.” … More David Sloan Wilson on economics and new developments in evolutionary theory
Discover how seemingly contradicting theories can be combined to create a Smart Economy that minimizes systemic risk and fosters innovation. … More Political Paradigms and the Smart Economy
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