Categories
Talks

Local Perceptions of Changing Food Systems in Northern Ethiopia

Rammelt, C. F. (2019). Masterclass: Tracing the Causal Loops, Local Perceptions of Changing Food Systems in Northern Ethiopia. Sydney: UNSW.
Categories
Blogs

Capitalism inevitably leads to crises

Capitalism typically goes through cycles of expansion to contraction. We commonly refer to these as ‘business cycles’ or ‘economic cycles’. Every now and then, however, these cycles go off the hinges. They become unstable and can lead to recessions, crises and depressions. This inherent instability of the capitalist system cannot be explained by standard economic models. Instead, those models blame instability on excessive regulation, government interventions or other factors outside the market-economic system. Some unorthodox economists see it differently. Steve Keen, for example, developed an alternative kind of economic model—one that can mimic instability. The model provides compelling and urgent insights into how economic crises arise from within the structures of capitalism. Another crisis seems inevitable as long as the causes are misdiagnosed. Read more…

Categories
Development Economy

Life and Debt (Stephanie Black)

Jamaica in the 1970s: Govt. investments in development (health, education, housing, agriculture). Imagine a well-running hospital, educated personnel, well-equipped, affordable. Debt is now 150% of GDP. State funds are committed to service debt. So imagine the same hospital 40 years later, no maintenance, insufficient(ly) trained staff, expensive medicine/treatment…

Categories
Economy

Economic stability leads to instability (Hyman Minsky)

Categories
Blogs

Good infinity

Cycles of growth and decline in ecology were famously revealed in so-called predator-prey relationships. As foxes eat chickens, chicken reproduction drops, which leaves fewer chickens for foxes to eat. Consequently, the fox population drops, which then allows the chicken population to rebuild. As its food source becomes available again, the fox population also rebuilds and the cycle starts again. Read more…

Categories
Development Economy

Regional currency system

The Chiemgauer is a regional currency that has seen a boom during the global financial crisis.

Categories
Economy

How banks work

There’s a lot of confusion about how banks work and where money comes from. Very few members of the public really understand it. Economics graduates have a slightly better idea, but many university economics courses still teach a model of banking that hasn’t applied to the real world for decades. The worrying thing is that many policy makers and economist still work on this outdated model. In this video course we’ll discover how banks really work, and how money is created.

Categories
Blogs

Decoupling: a key fantasy of the SDG agenda

At the core of the new Sustainable Development Goals (SDGs) is the idea that economic growth (defined as money flow or market value) can be ‘decoupled’ from the physical growth of the economy (resource consumption) and the associated environmental pressures (degradation, pollution). Paradoxically, however, the concept’s main promoters admit that there is virtually no evidence that decoupling works, that the conceptual basis for it is weak, and that even if it were possible it is not politically feasible. Decoupling is, thus, a dangerous fantasy sustained by disavowal – the simultaneous admission and denial – of its impossibility in practice. Read more…

Categories
Development Economy

Measuring quality not quantity (Hazel Henderson)

Hazel Henderson discusses the need to abandon GNP as an indicator, as it entirely misses the mark and does not measure quality of life.

Categories
Talks

Rural roads and inequality

Rammelt, C. F. (2016). Presentation: Rural roads and inequality in Tigray, Ethiopia. The Hague: Dutch Ministry of Foreign Affairs.