“Income Distribution and Stability” by Dr Michael Kumhof and a presentation of research project findings “An investment and equality-led sustainable growth strategy”
2017-05-04 17:00 - 19:30 UTC
A key note lecture by Dr Michael Kumhof, Bank of England, on “Income Distribution and Stability”.
Followed by a presentation of the findings of our new research project on “An investment and equality-led sustainable growth strategy” and a panel discussion with:
Professor Ozlem Onaran
Prof. Stephany Griffith-Jones
Dr. Ernst Stetter ( Chair)
Ms Signe Dahl
Mr Paul Sweeny
Dr. Maria Nikolaidi
Dr. Giovanni Cozzi
The details of the programme are here.
The event is co-organised by the Greenwich Political Economy Research Centre, FEPS, ECLM and TASC on 4 May at 17:00-19:30 at the University of Greenwich, Queen Anne Court room QA080.
To book a place for the conference please register here.

It will take place at University of Greenwich, Queen Anne court room QA080.
This will be followed by a dinner reception.
Places must be booked at:
https://www.eventbrite.co.uk/e/investment-and-equality-led-sustainable-growth-strategy-tickets-30189120472
For the details of the programme and papers, see:
http://www.gre.ac.uk/__data/assets/pdf_file/0006/1355883/Programme-investment-and-equality-led-sustainable-growth.pdf

Detailed information on getting to University of Greenwich can be found here.

St Catharine’s Political Economy Seminar – ‘‘Calculating the Costs of Conflict’, Ron Smith
2017-04-26 18:00 - 19:30 | Ramsden Room, St Catharine’s College, St Catharine's College, Cambridge, cb21rl, United Kingdom
Date: Wednesday 26 April 2017
Time: 18:00 -19:30
Speaker: Ron Smith
Talk Title: ‘‘Calculating the Costs of Conflict’
Location: Ramsden Room, St Catharine’s College
The next St Catharine’s Political Economy Seminar in the series on the Economics of Austerity, will be held on 26 April, 2017 – Ron Smith will give a talk on ‘Calculating the Costs of Conflict’. The seminar will be held in the Ramsden Room at St Catharine’s College from 6.00-7.30 pm. All are welcome. The seminar series is supported by the Cambridge Journal of Economics and the Economics and Policy Group at the Judge Business School.
Speaker:
Ron Smith is Professor of Applied Economics at Birkbeck, University of London, where he teaches statistics and econometrics. Prior to joining Birkbeck in 1976, he taught at Cambridge. He has also been visiting professor at London Business School and the University of Colorado. He has written 6 books, edited another 3 and published over 200 papers mainly in applied econometrics and defence economics. His book Military
Economics: the interaction of power and money (Palgrave 2009) was shortlisted for the 2010 Duke of Westminster’s Medal for Military Literature. He has acted as a consultant to a range of bodies including Frontier Economics and the UK National Audit Office on defence projects.
He is an Associate Fellow of the Royal United Services Institute and regularly lectures at the UK Defence Academy. He was awarded the 2011 Lewis Fry Richardson lifetime achievement award for contributions to the scientific study of militarised conflict by the European Consortium of Political Research.
Talk Overview:
Conflict has a major influence on economic development and there is a large literature on the economic costs of military conflict. This presentation uses four questions to structure a discussion of the calculation of conflict costs. The first concerns the purpose of the calculation: why is it being done? The second concerns the counterfactual: what comparison is being made? The third concerns the data: where do the numbers come from? The fourth concerns aggregation and valuation: how are the elements of costs (over outcomes, time and individuals) combined? The literature is often not clear on the answers to these questions, tending to take them for granted. However, the answers are crucial to the calculation and are not merely technical matters of economics and statistics but rest on both the underlying objective of the calculation and fundamental philosophical and ethical judgements. The presentation will draw on “On the heterogenous consequences of civil war” (with Vincenzo Bove and Leandro Elia) Oxford Economic Papers forthcoming and “The Economic Costs of Military Conflict”, Journal of Peace Research, 51(2) March 2014 pp. 245 – 256.
Please contact the seminar organisers Philip Arestis (pa267@cam.ac.uk) and Michael Kitson (m.kitson@jbs.cam.ac.uk) in the event of a query.

Financialisation and the Periodisation of Capitalism Discussion
2017-04-25 18:00 - 20:00
IPPE financialisation working group invites to you a discussion on:
Financialisation and the periodisation of capitalism
25th April 2017, 6-8pm,
Khalili Lecture Theatre, SOAS, University of London
As the concept gains prominence within social sciences, debates arise about situating financialisation within the history of capitalism. Is financialisation a contingent product of the economic shifts of the 1970s and 1980s? Is it a long-run tendency of capitalism?
Join us for for a discussion about these issues with Prof. Photis Lysandrou (City University of London), Prof. Simon Mohun (Queen Mary University of London), and Prof. Jan Toporowski (SOAS). The speakers will introduce their different viewpoints and discuss some theoretical implications concerning the incorporation of contextual aspects with respect to space and time, based on questions prepared by the IIPPE financialisation working group. A general Q&A session will follow. The event is open to everyone, and is chaired by Dr Ulrich Volz, head of the department of Economics at SOAS. Please register at https://www.eventbrite.co.uk/e/financialisation-and-the-periodisation-of-capitalism-tickets-33249567351.

Capitalism on the Edge - What can women do to change how Capitalism works?
2017-04-05 17:15 - 2017-04-06 19:00 | Murray Edwards College, Cambridge, Huntingdon Road, Cambridge , CB3 0DF, United Kingdom
Join the last event in the Capitalism on the Edge series, to hear the insightful and action-oriented views of our panel members.

Panel discussion with Dame Pauline Green, Sue Garrard, and Natasha Landell-Mills discussing what women can do to change how Capitalism works.
Sue Garrard, SVP Global Communications, Unilever
Dame Pauline Green, former President of the International Cooperative Alliance
Natasha Landell-Mills, Head of Environment, Social and Governance Research, Sarasin & Partners
17:15 – 18:30 – Lecture
18:30 – 19:00 – Drinks reception (open to all)
Booking in advance is required see:
https://www.eventbrite.co.uk/e/capitalism-on-the-edge-what-can-women-do-to-change-how-capitalism-works-tickets-30518966049

'Forgotten Macroeconomics in Mega Trade and Investment Deal' Dr Jeronim Capaldo
2017-04-05 13:00 - 15:00 | Greenwich University
A research seminar by Dr Jeronim Capaldo, of Tufts University, on the “Forgotten Macroeconomics in Mega Trade and Investment Deals”. #
Dr Capaldo’ s talk is based on a synthesis of two papers:
– The Trans-Atlantic Trade and Investment Partnership: European Disintegration, Unemployment and Instability
– Trading Down: Unemployment, Inequality and Other Risks of the Trans-Pacific Partnership Agreement
The seminar is jointly organised by the Greenwich Political Economy Research Centre (GPERC), the Foundation for European Progressive Studies (FEPS) and the department of International Business and Economics (IBE).
It will take place University of Greenwich Queen Anne court room QA180, from 13:00 to 15:00.

Post-Brexit Options for the UK: Combining Legal and Economic Analysis Workshop
2017-03-30 09:30 - 17:30 | Peterhouse, Trumpington Street, Cambridge , CB2 1RD, United Kingdom
The UK government faces a major challenge in formulating a clear plan for Brexit. Its current position is that departing the EU necessarily entails leaving the European Economic Area and customs union. The Prime Minster has said that ‘no deal’ is better than a ‘bad deal’. Thus it is possible that at the end of March 2019, the UK will fall back on WTO rules. While the government may have worked out the legal and institutional implications of this scenario, it has not shared this information with the public. By its own admission, the government has not undertaken any economic analysis of the possible effects of Brexit, beyond the work carried out by the Treasury before the referendum of June 2016. In these circumstances, there is an urgent need for informed public debate on the consequences of Brexit. On 30 March 2017 the Cambridge Public Policy Strategic Research Initiative and Centre for Business Research (CBR) will be holding a Workshop to explore the legal and economic context of the momentous decision to trigger Article 50. We will be reporting the state of the art on legal issues which include the WTO option, migration, citizen’s rights, the UK’s ‘exit bill’, free movement, taxation, social policy, and the legal mechanics of leaving, including the proposed ‘Great Repeal Act’. We will also be presenting the latest results from the CBR’s economic forecasting model, UKMOD, which has earned a reputation for accuracy and even-handedness in its analysis of the effects of Brexit.
Keynote speaker
James Wolffe QC, Lord Advocate for Scotland
Legal Issues:
Migration: Catherine Barnard
The WTO Option: Lorand Bartels
Sector-specific regulation: John Bell
Social and Economic Policy: Simon Deakin
Taxation: Julian Ghosh QC
The Great Repeal Act: David Howarth
EU Citizens’ Rights: Kirsty Hughes
Free Movement: Martin Steinfeld
The UK’s ‘Exit Bill’: Michael Waibel
Economic Forecast
Economic Scenarios Post-Brexit: Graham Gudgin, Ken Coutts and Neil Gibson
Registration
Registration is free but places are limited. To reserve a place please email Rachel Wagstaff (r.wagstaff@cbr.cam.ac.uk).
Location
The Theatre, Peterhouse, Cambridge CB2 1RD
http://www.pet.cam.ac.uk
We are grateful for the support of the University of Cambridge Impact Acceleration Account.

Economic Policies since the Global Financial Crisis Conference
2017-03-30 09:00 - 17:00 | Senior Combination Room (SCR), St Catharine’s College, Cambridge, United Kingdom
Economic Policies since the Global Financial Crisis Conference
This conference, organised by the Cambridge Trust for New Thinking in Economics (CTNTE), focuses on how economic policies have changed in response to the Global Financial Crisis (GFC) from the viewpoint of the ‘New Economics’, an interdisciplinary approach that is concerned with institutional behaviour, expectations and uncertainty as opposed to traditional economics with its emphasis on equilibrium, mathematical formalism and deterministic solutions.
The Conference brings together eight papers by renown academics across Europe to explore the fiscal policy responses in the immediate aftermath of the GFC changes to the economic policies and attitudes to the financial sector and its regulation the development of ‘unorthodox’ monetary policies changes to industrial policy, labour market and environmental policies the impact of growing concerns over inequality on the policy agenda.
The papers explore the fate of these policy developments at both national and supra-national level.
Registration forms and more detailed information regarding the conference programme, speakers and papers is available online http://www.neweconomicthinking.org/prog_30March2017.htm
The standard conference fee is £129, with a special rate of £44 for academics, not-for-profit organisations and placement students. Free places are available for postgraduate students.
Please email Sanna at info@neweconomicthinking.org to register or for more information.

IIPPE Training Workshop – Value and Price after Marx
2017-03-27 09:30 - 17:00
IIPPE Training Workshop – Value and Price after Marx
Mon 27 March, SOAS Brunei Gallery (room B102)
The International Initiative for Promoting Political Economy (IIPPE) announce their next Training Workshop at SOAS (room B102, in the Brunei Gallery), London on 27 March 2017 (registration from 9.30am).
Simon Mohun will lead the workshop. In the morning session (10am to 1pm), the focus will be on a Marxist approach to the understanding of value and price. The afternoon session will provide a comprehensive survey of approaches to the ‘transformation problem’, for which a prerequisite is either (and preferably) the morning session or some prior knowledge of the issues involved. In both sessions the emphasis will be on interpretation and logic, rather than any underlying mathematics.
This Workshop will appeal to undergraduate and postgraduate students, junior academics and activists who have a particular interest in acquainting themselves with core elements of Marxian political economy.
Pre-registration is essential because of room capacity constraints. Please register by completing the online form.
To learn about IIPPE, their activities, working groups and events, access www.iippe.org.

'Does inequality hamper innovation and growth?' Alberto Russo & ‘A simple formalisation of Minsky's business cycle theory’ by Rob Jump
2017-03-22 16:00 - 18:00 | Kingston University, Penrhyn Road, Kingston, Surrey, , KT1 2EE, United Kingdom
‘Does inequality hamper innovation and growth?’ by Alberto Russo (Marche Polytechnic University)
Abstract: The paper builds upon the Agent Based-Stock Flow Consistent model presented in Caiani et al. (2015) to analyze the relationship between income and wealth inequality and economic development. For this sake, the original model has been amended under three main dimensions: first, the households sector has been subdivided into workmen, office workers, researchers, and executives which compete on segmented labor markets. Conversely, firms are now characterized by a hierarchical organization structure which determines, according to firms’ output levels, their demand for each type of workers. Second, in order to account for the impact of income and wealth distribution on consumption patterns, different households classes – also representing different income groups – have diversified average propensities to consume and save. Finally, the model now embeds technological change in an evolutionary flavor, affecting labor productivity evolution in the consumption sector through product innovation in the capital sector, where firms invest in R&D and produce differentiated vintages of machineries. The model is then calibrated using realistic values for both income and wealth distribution across different income groups, and their average propensities to consume. Results of the simulation experiments suggest that more progressive tax schemes and labor market policies aiming to increase low and middle workers’ coordination, and to support their wage levels, concur to foster economic development and to reduce inequality, though the latter seem to be more effective under both respects. The model thus provides some evidence in favor of a wage-led growth regime, where improvements of middle-low levels workers’ conditions create positive systemic effects, which eventually trickle up also to high income-profit earners households.
‘A simple formalisation of Minsky’s business cycle theory’ by Rob Jump (Kingston University)
Abstract: This paper presents a simple model of Minsky’s business cycle theory. The model is based on the Phillips (1954) continuous time multiplier accelerator model, where firms have a target debt to income ratio, rather than a target capital to income ratio. Via a strategy switching mechanism, fluctuations with a smaller perceived volatility lead to firms reducing their margins of safety by moving towards higher debt to income ratios. This increases volatility, the economy is destabilised, and firms increase their margins of safety by moving towards lower debt to income ratios. Hence the cycle repeats itself, and “stability is destabilising”. The simple model relies on an approximate aggregation assumption, and we estimate the approximation bias numerically using techniques from agent based modelling.
Please join us for this event as part of the Economic Department Research Seminar Series, it is free to attend.
Booking and further information: http://www.kingston.ac.uk/events/item/2502/22-mar-2017-economics-research-seminar-with-alberto-russo-and-rob-jump/
Contact: Antoine Godin (A.Godin@kingston.ac.uk)
Venue: JG 3013
How to find us: The seminar takes place at Penryhn Road Campus (Kingston upon Thames, Surrey, KT1 2EE). Public Transport: take train from London Waterloo to Surbiton (20 mins approx.) and walk (15 mins approx.) or buses 71, 281, K2, K3 (5 mins approx.) from Surbiton Station to Kingston University. For further details and driving directions, please go http://www.kingston.ac.uk/aboutkingstonuniversity/location/howtofindus/penrhynroad/

St Catharine's Political Economy Seminar - '‘Expansionary Fiscal Policy – Open Economy Issues’, Jonathan Perraton
2017-03-08 18:00 - 19:30 | Ramsden Room, St Catharine’s College, St Catharine's College, Cambridge, cb21rl, United Kingdom
Date: Wednesday 8 March 2017
Time: 18:00 -19:30
Speaker: Jonathan Perraton
Talk Title: ‘‘Expansionary Fiscal Policy – Open Economy Issues’
Location: Ramsden Room, St Catharine’s College
The next St Catharine’s Political Economy Seminar in the series on the Economics of Austerity, will be held on 08 March, 2017 – Jonathan Perraton will give a talk on ‘Expansionary Fiscal Policy – Open Economy Issues’. The seminar will be held in the Ramsden Room at St Catharine’s College from 6.00-7.30 pm. All are welcome. The seminar series is supported by the Cambridge Journal of Economics and the Economics and Policy Group at the Judge Business School.
Speaker:
Jonathan Perraton is Senior Lecturer in Economics at the University of Sheffield and an Associate Fellow of the Sheffield Political Economy Research Institute. He has published on economic globalisation, balance of payments constrained growth, political economy and economic methodology. He is a past coordinator of the Post-Keynesian Economics Study Group.
Talk Overview:
Much of the recent discussion of expansionary fiscal policy has abstracted from open economy issues. The degree of openness of an economy would be expected to affect the multiplier; further, the size, composition and financing of any expansionary package would be expected to affect the real exchange rate. Some studies have indicated particular responses here from public infrastructure investment. The response of interest rates determined in global markets is crucial; this is related here to earlier economics and political economy work on the feasibility of Keynesian policies under globalisation. Some of this earlier work pointed to possible risk premium effects limiting the effectiveness of Keynesian policies. This work is revisited, drawing on evidence from before and since the Global Financial Crisis.
Please contact the seminar organisers Philip Arestis (pa267@cam.ac.uk) and Michael Kitson (m.kitson@jbs.cam.ac.uk) in the event of a query.

Greenwich Political Economy Research Centre (GPERC): International Women's Day: "Gender Equality for a Sustainable Economy"
2017-03-08 17:00 - 19:00
International Women’s Day: “Gender Equality for a Sustainable Economy”, with:
Sarah Champion MP (invited)
Prof. Diane Elson
Prof Ozlem Onaran
Dr Hannah Bargawi
Dr Giovanni Cozzi
Dr Jerome de Henau
Mr Howard Reed
This event is co-organised by GPERC, Women’s Budget Group and FEPS.
A place must be booked at:
https://www.eventbrite.co.uk/e/gender-equality-for-a-sustainable-economy-tickets-30188948959
To be held at the University of Greenwich, Queen Anne Court room QA65.

St Catharine’s Political Economy Seminar – ‘‘Beyond Austerity and Stimulus: Broadening Capital Acquisition with the Earnings of Capital as a Means to Sustainable Fuller Employment and Growth’, Robert Ashford
2017-03-08 08:00 - 17:00
Date: Wednesday 10 May 2017
Time: 18:00 -19:30
Speaker: Robert Ashford
Talk Title: ‘‘Beyond Austerity and Stimulus: Broadening Capital Acquisition with the Earnings of Capital as a Means to Sustainable Fuller Employment and Growth’
Location: Ramsden Room, St Catharine’s College
The next St Catharine’s Political Economy Seminar in the series on the Economics of Austerity, will be held on 10 May, 2017 – Robert Ashford will give a talk on ‘Beyond Austerity and Stimulus: Broadening Capital Acquisition with the Earnings of Capital as a Means to Sustainable Fuller Employment and Growth’. The seminar will be held in the Ramsden Room at St Catharine’s College from 6.00-7.30 pm. All are welcome. The seminar series is supported by the Cambridge Journal of Economics and the Economics and Policy Group at the Judge Business School.
Speaker:
Robert Ashford is Bond, Schoeneck & King Distinguished Professor of Law at Syracuse University, where he teaches or has taught courses in Business Associations, Business Planning, Public Corporations, Professional Responsibility, Secured Transactions, Securities Regulation, and Inclusive Capitalism. He holds a J.D. with honors from Harvard Law School, and a B.A. with majors in physics and English literature, graduating first in his class at the University of South Florida. He was a Woodrow Wilson Fellow at Stanford University.
Professor Ashford has authored or co-authored books, articles, and book chapters on subjects including banking, binary economics, history of economic thought, inclusive capitalism, professional responsibility, socio-economics, and tax law. His scholarship has been cited by state and federal courts, including the United States Supreme Court. He has lectured at universities and conferences in Australia, Canada, France, Greece, Indonesia, Italy, Switzerland, the United Kingdom, and throughout the U.S.A. His biography appears in editions of Marquis Who’s Who since 2011. Professor Ashford is founder and principal organizer of the Section on Socio-Economics of the Association of American Law Schools, the Society of Socio-Economists, and a member of the academic honour societies of Phi Kappa Phi and Sigma Pi Sigma (physics), and the American Law Institute.
Talk Overview:
To achieve fuller employment of labour and capital and enhanced earnings of poor and middle-class people, austerity advocates advance the laissez faire approach grounded in neoclassical theory, and stimulus advocates advance various versions of Keynesian theory. The presentation offers a different strategy (broadening competitive market opportunities to acquire capital with the earnings of capital) resting on a different theory of fuller employment) (the prospect of more broadly distributed capital earnings in future years provides incentives to profitably employ more labour and capital in earlier years). This theory of fuller employment is similar to Keynesian theory but distinct and complementary because it operates in the long run as well as the short run and requires no redistribution. Based on the theory, modest changes in the system of corporate finance will enable market participants to price the value of more broadly distributed capital acquisition. Predicted results include (1) enhanced earnings for poor and middle-class people, (2) enhanced corporate profits and growth, (3) reduced need for welfare dependence, government spending, borrowing, and taxes, and (4) enhanced sovereign creditworthiness. These predicted results, if realized, surpass expectations based on mainstream theories and will make both austerity and stimulus strategies more affordable and politically feasible.
Please contact the seminar organisers Philip Arestis (pa267@cam.ac.uk) and Michael Kitson (m.kitson@jbs.cam.ac.uk) in the event of a query.

Cambridge Realist Workshop - John Latsis 'The Limits of Ontological Critique: from Judgmental Rationality to Justification'
2017-02-27 19:30 - 21:00 | Latimer Room, Clare College, Clare College, Cambridge, United Kingdom
Speaker: John Latsis, Henley Business School
Talk Title: ‘The Limits of Ontological Critique: from Judgmental Rationality to Justification’
Drinks available from 7:30 pm, talk starts at 8pm.

St Catharine's Political Economy Seminar Series - 'Whose Recovery?’, Andy Haldane
2017-02-22 18:00 - 19:30 | Ramsden Room, St Catharine’s College, St Catharine's College, Cambridge, cb21rl, United Kingdom
Date: Wednesday 22 February 2017
Time: 18:00 -19:30
Speaker: Andy Haldane
Talk Title: ‘Whose Recovery?’
Location: Mill Lane Lecture Room 1
The next St Catharine’s Political Economy Seminar in the series on the Economics of Austerity, will be held on 22 February, 2017 – Andy Haldane will give a talk on “Whose Recovery?”. The seminar will be held in the Mill Lane Lecture Room 1 from 6.00-7.30 pm. All are welcome. The seminar series is supported by the Cambridge Journal of Economics and the Economics and Policy Group at the Judge Business School.
Speaker
Andy Haldane is the Chief Economist at the Bank of England and Executive Director, Monetary Analysis and Statistics. He is a member of the Bank’s Monetary Policy Committee. He also has responsibility for research and statistics across the Bank. In 2014, TIME magazine named him one of the 100 most influential people in the world. Andy has written extensively on domestic and international monetary and financial policy issues. He is co-founder of ‘Pro Bono Economics’, a charity which brokers economists into charitable projects.
Talk overview
Andy Haldane will talk on the issue of at an aggregate level, there has been a strong recovery in the UK economy over the past three years and a dramatic improvement in the jobs market. For many, the economic recovery has been visible and tangible – in sales, in jobs, in investment. But for others it is barely visible and for some non-existent. Put differently, whose recovery are we actually talking about? This economic recovery has varied considerably across different dimensions depending on: where in the country you live, how old you are, what assets you own and your income level. For growth to be sustainable and strong it needs to be inclusive and comprehensive.
This talk will discuss how we might reconcile the macro data with these micro accounts, and what role public policy should seek to play over time to close these fault-lines and achieve inclusive and sustainable rises in societal well-being.
Please contact the seminar organisers Philip Arestis (pa267@cam.ac.uk) and Michael Kitson (m.kitson@jbs.cam.ac.uk) in the event of a query.

49th Annual UK History of Economic Thought Conference
2017-02-14 | City, University of London, Northampton Street, London , EC1V 0HB, United Kingdom
CALL FOR PAPERS
49th Annual UK History of Economic Thought conference
The 49th annual UK History of Economic Thought Conference will take place on 3-5 September 2017, at City, University of London, UK.
We invite submissions of abstracts for papers to be presented at the conference.
Proposals must be received no later than 14 February 2017.
Notification of acceptance will be given by 14 March 2017.
Full papers must be submitted by 15 July 2017 for publication on the conference website. Contributions on all aspects of the history of economic thought and methodology, and from any perspective, are welcome. All sessions will be plenary, with 45 minutes per paper. Speakers will be allotted 30 minutes for presentations, with 15 minutes for discussion.
Abstracts should be sent to: the local organisers, Andy Denis (a.m.p.denis@city.ac.uk), and Claudia Jefferies (claudia.jefferies.1@city.ac.uk), City, University of London, by 14 February 2017.
Further information about THETS may be found at https://thets.org.uk/.

Cambridge Realist Workshop – Rupert Read – 'Economics and Science, with special reference to ecological economics'
2017-02-13 19:30 - 21:00 | Latimer Room, Clare College, Clare College, Cambridge, United Kingdom
Speaker: Rupert Read, University of East Anglia
Talk Title: ‘Economics and Science, with special reference to ecological economics’
Drinks available from 7:30 pm, talk starts at 8pm.

St Catharine’s Political Economy Seminar – 'Explaining the Euro Crisis: Current Account Imbalances, Credit Booms and Economic Policy in Different Economic Paradigms’, Engelbert Stockhammer
2017-02-08 18:00 - 19:30 | Ramsden Room, St Catharine’s College, St Catharine's College, Cambridge, cb21rl, United Kingdom
Date: Wednesday 8 February 2017
Time: 18:00 -19:30
Speaker: Engelbert Stockhammer
Talk Title: ‘Explaining the Euro Crisis: Current Account Imbalances, Credit Booms and Economic Policy in Different Economic Paradigms’
Location: Ramsden Room, St Catharine’s College
St Catharine’s Political Economy Seminar in the series on the Economics of Austerity, a seminar will be held on 08 February, 2017 – Engelbert Stockhammer will give a talk on ‘Explaining the Euro Crisis: Current Account Imbalances, Credit Booms and Economic Policy in Different Economic Paradigms’. The seminar will be held in the Ramsden Room at St Catharine’s College from 6.00-7.30 pm. All are welcome. The seminar series is supported by the Cambridge Journal of Economics and the Economics and Policy Group at the Judge Business School.
Speaker:
Engelbert Stockhammer is Professor of Economics at Kingston University London and coordinator of the Political Economy Research Group (PERG). He has worked on Post Keynesian Economics, financialisation, wage-led demand regimes and economic policy in Europe and is ranked among the top 5% of economists worldwide by REPEC. He has published numerous articles in international peer-refereed journals, including the Cambridge Journal of Economics, Oxford Review of Economic Policy,International Review of Applied Economics, Journal of Post Keynesian Economics, British Journal of Industrial Relations, Environment and Planning A, New Political Economy, and Socio-Economic Review. Recent books include Wage-Led Growth. An Equitable Strategy for Economic Recovery.
Talk overview:
The paper proposes a post-Keynesian analysis of the Eurozone crisis and contrasts interpretations inspired by New Keynesian, New Classical, and Marxist theories. The origin of the crisis is the emergence of a debt-driven and an export-driven growth model, which resulted in rapid increase in private debt ratios and current account imbalances. The reason the crisis escalated in southern Europe, but not in other parts of the world, lies in the unique dysfunctional economic policy regime of the Euro area. European fiscal rules and the Troika impose fiscal austerity on countries in crisis and the separation of fiscal and monetary spaces has made countries vulnerable to sovereign debt crises and forced them to comply. We analyse the role different paradigms attribute to current account imbalances, fiscal policy and monetary policy. Remarkably, opposing views on the relative importance of cost and demand developments in explaining current account imbalances can be found in both heterodox and orthodox economics. Regarding the assessment of fiscal and monetary policy there is a clearer polarisation, with heterodox analysis regarding austerity as unhelpful and large parts of orthodox economics endorsing it. We conclude that there is a weak mapping between post-Keynesian, New Classcial, New Keynesian and Marxist theories and different economic policy strategies for the Euro area, which we label Keynesian New Deal, European Orthodoxy, Moderate Reform and Progressive Exit respectively.
Please contact the seminar organisers Philip Arestis (pa267@cam.ac.uk) and Michael Kitson (m.kitson@jbs.cam.ac.uk) in the event of a query.

Greenwich Political Economy Research Centre (GPERC): A panel debate on the economic impact of Brexit
2017-02-02 05:00 - 19:00 | Greenwich University
A panel debate on the economic impact of Brexit, co-organised by the Greenwich Political Economy Research Centre and the Foundation for European Progressive Studies. The panel will include:
Matthew Pennycook (MP for Greenwich and Woolwich, Shadow Minister for Exiting the European Union)
Ms Sian Errington (Unite the Union, Political Officer)
Mr John Palmer (former European Editor of The Guardian)
Mr Andrew Harrop (Fabian Society, General Secretary)
Dr Ernst Stetter (FEPS, Secretary General)
Prof Ozlem Onaran (Director of GPERC)
Dr Giovanni Cozzi (GPERC)
and Prof Mehmet Ugur (chair)
The debate will take place on 2 February at 17:00-19:00, at the University of Greenwich, Queen Anne Court room QA065.
A place must be booked for the conference, please reserve a place at:
https://www.eventbrite.co.uk/e/the-economic-impact-of-brexit-tickets-30188853674
The event is followed by dinner reception.

Cambridge Realist Workshop – Yannick Slade-Caffarel – What if there is no nature to heterodox economics?
2017-01-30 19:30 - 21:00 | Latimer Room, Clare College, Clare College, Cambridge, United Kingdom
Speaker: Yannick Slade-Caffarel, King’s College London
Talk Title: ‘What if there is no nature to heterodox economics?’
Drinks available from 7:30 pm, talk starts at 8pm.

Greenwich Political Economy Research Centre (GPERC): 'Modern Monetary Theory and European Macroeconomics' Book Launch
2017-01-26 17:00 - 19:00 | Greenwich University
“Modern Monetary Theory and European Macroeconomics”
Book launch by Dirk Ehnts, Chemnitz Technical University.
Location: University of Greenwich – King William court room KW003
Time: 17:00- 19:00.

St Catharine’s Political Economy Seminar – 'Brexit and the Political Economy of ‘Populism’, Yiannis Kitromilides
2017-01-25 18:00 - 18:30 | Ramsden Room, St Catharine’s College, St Catharine's College, Cambridge, cb21rl, United Kingdom
Date: Wednesday 25 January 2017
Time: 18:00 -19:30
Speaker: Yiannis Kitromilides
Talk Title: ‘Brexit and the Political Economy of ‘Populism’
Location: Ramsden Room, St Catharine’s College
The next St Catharine’s Political Economy Seminar in the series on the Economics of Austerity, will be held on 25 January, 2017 – Yiannis Kitromilides will give a talk on “Brexit and the Political Economy of ‘Populism'”. The seminar will be held in the RAMSDEN Room at St Catharine’s College from 6.00-7.30 pm. All are welcome. The seminar series is supported by the Cambridge Journal of Economics and the Economics and Policy Group at the Cambridge Judge Business School.
Speaker
Yiannis Kitromilides is Associate Member of the Cambridge Centre of Economic and Public Policy, Department of Land Economy, University of Cambridge. He has previously taught at the University of Greenwich, the University of Westminster, the University of Middlesex and the School of Oriental and African Studies, University of London. His main research interests are in the areas of European Monetary Integration, Reform of Banking, Economics of Climate Change and the Political Economy of Economic Policy-making. His most recent publications include papers on the political economy of the austerity strategy, Greece and the eurozone crisis, Technocracy and public policy-making and the EU after ‘Brexit’.
Talk Overview
The unexpected electoral success of both the ‘leave’ campaign in the UK referendum and of Donald Trump in the US presidential elections has been widely attributed to the rise of right-wing ‘populism’. It is predicted that this phenomenon is likely to be repeated in other parts of Europe and the World. This is to be contrasted with left-wing ‘populism’ which produced the recent electoral successes of the anti-austerity movements of Syriza in Greece and Podemos in Spain. ‘Populism’ appears to provide an explanation for the electoral successes of both left-wing and right-wing movements. The concept of ‘populism’ is subject to many different, often conflicting, interpretations and definitions. The paper examines the different varieties of ‘populism’ and concludes that given its elusive nature the widespread use of the term as an explanation of recent surprising electoral outcomes is of rather limited usefulness. Regarding ‘Brexit’
the paper discusses an alternative explanation for the electoral outcome of the UK referendum as ‘an accident waiting to happen’.
Please contact the seminar organisers Philip Arestis (pa267@cam.ac.uk) and Michael Kitson (m.kitson@jbs.cam.ac.uk) in the event of a query.

Kingston Economic Department Research Seminar Series – ‘Minsky models: a structured survey' Maria Nikolaidi & Engelbert Stockhammer & 'Monetary policy and complexity in behavioural New Keynesian models' Rob Jump
2016-12-14 16:00 - 17:00 | Kingston University, Penrhyn Road, Kingston, Surrey, , KT1 2EE, United Kingdom
As part of the Kingston Economic Department Research Seminar Series
Date: Wednesday 14 December 2016
Time: 4.00pm – 6.00pm
Venue: JG 4006 (John Galsworthy building)
Price: free
Booking and further information: http://www.kingston.ac.uk/events/item/2303/14-dec-2016-economics-research-seminar-with-maria-nikolaidi-and-rob-jump/
Contact: Antoine Godin (A.Godin@kingston.ac.uk)
‘Minsky models: a structured survey ‘ by Maria Nikolaidi (Greenwich University) and Engelbert Stockhammer (Kingston University)
Abstract: Minsky cycles have recently gained prominence in the mainstream as well as in the heterodox literature. However, there exists no agreement upon the formal presentation of the Minsky models. This paper surveys the existing literature and offers a unified framework to compare the different approaches. It turns out that Minskyan models differ in substantive ways as regards the goods market adjustment, the dynamics of debt and the role of asset prices. The aim of this paper is to survey the literature, clarify the differences and suggest a structure to classify Minsky-inspired models.
‘Monetary policy and complexity in behavioural New Keynesian models’ by Rob Jump (Kingston University)
Abstract: This paper studies the implications of bounded rationality and internal rationality for the conduct of monetary policy in the standard New Keynesian (NK) model. We demonstrate the conditions under which standard (Euler learning) bounded rationality and the more realistic internal rationality leads to instability in the NK model using analytical techniques, and we demonstrate the conditions under which reinforcement learning leads to instability in the NK model using numerical techniques. We explore the extent to which an appropriate monetary policy can mitigate instability in the NK model under different types of learning and rationality.
How to find us: The seminar takes place at Penryhn Road Campus (Kingston upon Thames, Surrey, KT1 2EE). Public Transport: take train from London Waterloo to Surbiton (20 mins approx.) and walk (15 mins approx.) or buses 71, 281, K2, K3 (5 mins approx.) from Surbiton Station to Kingston University. For further details and driving directions, please go http://www.kingston.ac.uk/aboutkingstonuniversity/location/howtofindus/penrhynroad/

Greenwich Political Economy Research Centre (GPERC): Alleviating the Childcare Constraint for Women: Empirical Evidence from the UK
2016-12-14 13:00 - 14:00 | Greenwich University
“Alleviating the Childcare Constraint for Women: Empirical Evidence from the UK”. Seminar by Dr Gabriella Cagliesi, jointly organised by GPERC and the department of International Business and Economics (IBE). University of Greenwich Stephen Lawrence building, room SL106. Time: 13:00-14:00.
No registration required but places are limited.

Greenwich Political Economy Research Centre (GPERC) -"Migration in Kenya: Beyond Harris-Todaro"
2016-12-07 13:00 - 14:00 | Greenwich University
“Migration in Kenya: Beyond Harris-Todaro”. Seminar by Dr Cem Oyvat, jointly organised by GPERC and the department of International Business and Economics (IBE). University of Greenwich Stephen Lawrence building, room SL106. Time: 13:00-14:00.
No registration required but places are limited.

The Capitalism on the Edge lecture series : Prof Danny Dorling & Prof Kate Pickett - " Capitalism and Inequality: Can Brexit really take back control?"
2016-12-01 19:15 - 21:15 | Murray Edwards College, Cambridge, Huntingdon Road, Cambridge , CB3 0DF, United Kingdom
The Capitalism on the Edge lecture series lecture on Thurs 1 December is on ” Capitalism and Inequality: Can Brexit really take back control?” with Professor Danny Dorling (Oxford) and Professor Kate Pickett (York).
Lectures take place in Buckingham House, Murray Edwards College, Cambridge, from 17.15, followed by a drinks reception.
Further details and how to reserve your place can be found here:
http://www.murrayedwards.cam.ac.uk/about/capitalism-edge

Kingston Economic Department Research Seminar Series – ‘Much of the ‘economics of property rights’ devalues property and legal rights' Geoffrey Hodgson
2016-11-30 16:00 - 18:00 | Kingston University, Penrhyn Road, Kingston, Surrey, , KT1 2EE, United Kingdom
This event is part of the Kingston Economic Department Research Seminar Series.
Date: Wednesday 30 November 2016
Time: 4.00pm – 6.00pm
Venue: JG 4006 (John Galsworthy building), Penryhn Road Campus, Kingston upon Thames
Price: free
Booking and further information: http://www.kingston.ac.uk/events/item/2339/30-nov-2016-economics-research-seminar-with-geoffrey-hodgson-and-bill-dunn/
Contact: Antoine Godin (A.Godin@kingston.ac.uk)
‘Much of the ‘economics of property rights’ devalues property and legal rights’ by Geoffrey Hodgson (University of Hertfordshire), see also: http://newpolitics.apps-1and1.net/property-when-ludwig-von-mises-got-into-bed-with-karl-marx
Abstract: Legal theorists and other commentators have long established a distinction between property and possession. According to this usage adopted here, possession refers to control of a resource, but property involves legally sanctioned rights. Strikingly, prominent foundational accounts of the ‘economics of property rights’ concentrate on possession, downplaying the issue of legitimate legal rights (Alchian, 1965, 1977; Barzel, 1994, 1997, 2002; von Mises, 1981). Some authors in this genre make a distinction between ‘economic rights’ and ‘legal rights’ where the former are more to do with possession or the capacity to control. They argue that ‘economic rights’ are primary and more relevant for understanding behaviour. But it is argued here that legal factors – involving recognition of authority and perceived justice or morality – have also to be brought into the picture to understand human motivation in modern societies, even in the economic sphere. As other authors including Hernando De Soto (2000) have pointed out, the neglect of the legal infrastructure that buttresses property has deleterious implications, including a failure to understand the role of property in supporting collateralized loans for innovation and economic development.
‘Putting finance in its place: Marx, Keynes and the interstate system ‘ by Bill Dunn (University of Sidney)
Abstract: The paper argues that Marxist theories of money and finance remain underdeveloped and can be enriched by a critical appropriation of Keynesian insights. It advocates a theory of money and finance based on the mutual but asymmetrical interrelations of class, capital and state institutions. It argues that accepting a Marxist epistemology and the conceptual priority of social relations of production requires rather than denies acknowledging an active financial agency. However, this agency is socially constructed and constrained. With the appropriate conceptual level of ‘the social’ seen as essentially global, this also involves, amongst other things, discarding the exogenous / endogenous distinction but seeing states and their financial power, like that of other institutions, as framed within rather than as external to the social relations of production.
How to find us: The seminar takes place at Penryhn Road Campus (Kingston upon Thames, Surrey, KT1 2EE). Public Transport: take train from London Waterloo to Surbiton (20 mins approx.) and walk (15 mins approx.) or buses 71, 281, K2, K3 (5 mins approx.) from Surbiton Station to Kingston University. For further details and driving directions, please go http://www.kingston.ac.uk/aboutkingstonuniversity/location/howtofindus/penrhynroad/

Inequality, Wages and Finance Seminar
2016-11-29 02:00 - 18:30
The Inequality, Wages and Finance Seminar is hosted by the Open Political Economy Group (OPEG) at the Open University (OU), and is the fifth seminar in the series.
Time: 29 November 2016, 14:00 – 18:30
Location: Room 2, The Open University, 1-11 Hawley Crescent, Camden Town, London NW1 8NP
Factor Income Distribution, Work and Employment: Social and Economic Perspectives is an ESRC-funded series of six seminars taking place at the OU (London), Nottingham Business School, Leeds University Business School and Birmingham City University. The aim of the series is to explore factor income distribution from a plurality of perspectives, including heterodox approaches (such as post-Keynesianism, Kaleckian and radical economics) as well as mainstream analyses. The gender lens of feminist economics will also be considered, together with institutional perspectives and contributions from other disciplines.
Participants from government, industry and the university sector are warmly invited to attend and PhD students are especially welcome. This seminar will be followed, on Wednesday 30 November, by a postgraduate workshop, organised by OPEG research students. For more information, how to register, and request travel bursaries, for both events:
http://www.open.ac.uk/ikd/events/inequality-wages-and-finance
http://www.open.ac.uk/ikd/events/insights-methodological-approaches-economic-research

'Prosperity without Growth in a Finite Planet' by Tim Jackson
2016-11-23 16:00 - 19:00 | Greenwich University
The Young Scholars Initiative (YSI) of the Institute for New Economic Thinking, the Greenwich Political Economy Research Centre (GPERC) of the University of Greenwich, and the Foundation for European Progressive Studies (FEPS) would like to invite you to a talk by Professor Tim Jackson, on Wed 23 November 2016, 17:00 – 19:00 at the University of Greenwich, Queen Anne Court Room 080.
‘Is more economic growth the solution? Will it deliver prosperity and well-being for a global population projected to reach nine billion?’
Tim Jackson – a top sustainability adviser to the UK government – makes a compelling case against continued economic growth in developed nations. He provides a credible vision of how human society can flourish within the ecological limits of a finite planet. Fulfilling this vision is simply the most urgent task of our times.
Please register via Eventbrite. Registration starts at 16:00.
Location of Seminar:
University of Greenwich,
Queen Anne Court Room 080
Old Royal Naval College, Park Row
London
SE10 9LS
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Cambridge Society for Economic Pluralism: Arthur Kroeber & Joe Studwell 'Understanding the Chinese Economy: where is it headed?'
2016-11-21 17:30 - 19:00 | Mill Lane Lecture Rooms, Silver Street , Cambridge, Cambridgeshire, CB2 1RL, United Kingdom
Cambridge Society for Economic Pluralism Free events:
Arthur Kroeber & Joe Studwell ‘Understanding the Chinese Economy: where is it headed?’
Today 5:30 PM · Mill Lane Room 1

St Catharine’s Political Economy Seminar – Graham Gudgin & Ken Coutts 'Can fiscal and monetary policy offset macro-economic losses from Brexit'
2016-11-16 18:00 - 19:30 | Ramsden Room, St Catharine’s College, St Catharine's College, Cambridge, cb21rl, United Kingdom
Date: Wednesday 16 November 2016
Time: 18:00 -19:30
Speakers: Graham Gudgin & Ken Coutts
Talk Title: ‘Can fiscal and monetary policy offset macro-economic losses from Brexit’
Location: Ramsden Room, St Catharine’s College
The next St Catharine’s Political Economy Seminar in the series on the ‘Economics of Austerity’, will be held on Wednesday 16 November 2016. Graham Gudgin & Ken Coutts will give a talk on “Can fiscal and monetary policy offset macro-economic losses from Brexit”. The seminar will be held in the Ramsden Room at St Catharine’s College from 6.00-7.30 pm. All are welcome. The seminar series is supported by the Cambridge Journal of Economics and the Economics and Policy Group at the Cambridge Judge Business School.
Please contact the seminar organisers Philip Arestis (pa267@cam.ac.uk) and Michael Kitson (mk24@cam.ac.uk) in the event of a query.
