Economics & Law Treasures
By taking recent examples of good practice and examining why they were effective, Peter Bowman, Head of Economics, explores how an economy can be developed and directed to work for the common good.
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Economic with Justice Lecture Saturday 18th October 2014 John De Val, School of Philosophy and Economic Science, London A few days after I accepted the invitation to give this talk, I looked at the poster advertising the event and I was...
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For thousands of years we had an economics that studied what was produced, by whom, and for whom, without the rationality postulate. It was also an economics that was grounded in ethics and moral considerations. We need once again an economics that is not limited in conception and burdened with such an unrealistic and tired assumption as constant and continuous rational behavior. This paper will describe the reasons why such an economics is needed.
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In March 2014, the Bank of England published two articles in its Quarterly Bulletin that were closely modelled on the contents of the book ‘Where does money come from?’. In it, the central bank clearly acknowledged that individual banks create money out of nothing. This fact had been swept under the carpet in modern economics and in economic policy making for many decades. The implications are profound. Now that the truth is out, it is time to reclaim economics, but above all, the discourse on economic policy making, from the bankers.
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The annual economics lecture is an opportunity to review what has taken place in the economics faculty of the School over the last year and to reflect on what has been learnt. One of the highlights of the last year was the receipt by the School of an Award from the Globalisation for the Common Good Initiative led by Professor Kamran Mofid.
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