History of Economics
Blog Post, Podcast
Podcast with Lord Robert Skidelsky: How can macroeconomics answer the call for greater social justice?
A podcast discussion with Lord Robert Skidelsky, the eminent economic historian and macroeconomist. Audio only.
Blog Post
Adam Smith was a heterodox economist by modern standards
The modern pedagogy of Economics betrays the more balanced and socially-embedded model of economic growth and development framed by the field's most influential original theorists and codifiers in their 18th and 19th century treatises. See Chapter 3 of Human-Centred Economics: The Living Standards of Nations.
Book
Human-Centred Economics: The Living Standards of Nations
Palgrave Macmillan, ILO
This book examines the chronic underperformance of economies with respect to inclusion, sustainability and human and systemic resilience. It proposes a reformulation of macroeconomic theory and policy to explicitly internalize the role of policies and institutions that enable them. Correcting the imbalance of emphasis in modern economic theory and policy between markets and institutions, production and distribution, and national income and household living standards is the single most important step required to transcend 20th century trickle-down “neoliberalism” and replace it with a more human-centred model of economic progress in the 21st century.
Chapter
Original Sin or Wayward Practice? Living Standards as a Trickle-Down, Residual Consideration of Modern Economics (Chapter 3)
Palgrave Macmillan, ILO
This chapter interrogates the history of economic thought to trace the origins of the tendency by modern Economics to treat social inclusion, environmental sustainability and human and systemic resilience as an afterthought, a presumed by-product of rising productive output or GDP. Is this reflex of contemporary pedagogy and practice due to a conceptual flaw or omission in the original principles of liberal political economy or to a more recent misapplication of them?