The global monetary system is no longer fit for purpose and requires radical reform to promote sustainable and equitable economic development, independent consultant Shann Turnbull told the annual Association for Heterodox Economics conference in Glasgow last week. He said that…
Tag: Association for Heterodox Economics
The problem with microeconomics
Microeconomic theory has failed to reflect changes in the real world and the ferment in economics caused by the financial crisis of 2007/08 though there have been developments that reflect new thinking about consumer choice, the Association for Heterodox Economics…
Policymakers show interest in Steve Keen’s financial instability model
Policymakers, disillusioned with conventional general equilibrium models that failed to forecast the 2007/08 financial crisis, are showing interest in a new financial instability model developed by Australian economist Steve Keen. Keen told the annual Association for Heterodox Economics conference in…