The Private Debt Project (this website will become active as of December 2015) invites proposals for articles, papers, and research notes related to the study of private debt and its relationship to economic growth and financial stability. The Project will provide honorarium for all published work. In cases involving papers with original research, it will also consider small research grants to help cover the cost of the research.
Commissioned articles, papers, and research notes will be published on The Private Debt Project’s on-line journal and will be disseminated to a wide audience of academics, policy experts, government officials, investors, and business leaders.
The Friends Provident Foundation has just established a Fellowship for UK journalism to produce a “a significant work of long form journalism in any medium on the theme of building resilient economies.”
I’ve copied the full press release below. For further details, click on this link. The full press release is copied below.
Journalist Fellowship 2016
The Foundation’s trustees have created a journalist fellowship to build a better understanding of economics in the wider public by working with a leading journalist to create a significant work of long form journalism in any medium on the theme of building resilient economies.
Becoming an Economist is the introductory course on economics for undergraduates at Kingston University. This is the first of 11 lectures in the subject; I’ll post the others as I write them over the next few months. This lecture discusses why economists disagree with each other, and draws analogies with astronomy at the time when Galileo discovered craters on the Moon, and moons orbiting Jupiter and Saturn.
This is the Powerpoint file for the lecture, which includes links to the Youtube videos used in this lecture:
One of the people I miss talking with in Australia is radio journalist and tech and internet expert Phil Dobbie. Fortunately there’s Skype, and we regularly now chat matters economic on his internet radio show Balls Radio. Here’s the latest complete program, including our discussion of why interest rates are so low and are not going to move up until the level of private debt falls dramatically–which is unlikely to happen.
One of the very enjoyable aspects of being in London is speaking regularly with Simon Rose on the business-oriented internet radio Share Radio. I know I can talk under wet cement; I think Simon could manage to talk after it had set solid. We have a great time bantering about topics economics, and I hope it’s of interest to the audience as well. Here’s the latest installment, with some earlier ones available here.
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For seven years now, the rate The Fed sets to determine the price banks pay to borrow from it and from each other has been zero, or so close to zero that the difference is immaterial. This is, historically speaking, not normal, and The Fed has a desperate desire to return to what is normal, which is rate a few per cent above the rate of inflation (see Figure 1).
This is the brief talk I gave at a conference celebrating 25 years of the Critical Realist seminar series at Cambridge University. Critical realists argue against the use of mathematics in economics; I argue here that it’s the abuse of mathematics by Neoclassical economists–who practice what I have dubbed “Mythematics” rather than Mathematics–and that some phenomena are uncovered by mathematical logic that can’t be discovered by verbal logic alone. I give the example of my own model of Minsky’s Financial Instability Hypothesis, which revealed the possibility of a “Great Moderation” preceding a “Great Recession” before either event had happened.
There was a time when most educated people knew that the Earth was the center of the universe. There was a sophisticated “Geocentric” model, known as the “Ptolemaic system”, that predicted to very high accuracy the observed movement of all the objects in the Heavens, as they purportedly orbited the Earth on perfect crystalline spheres. 500 years ago, anyone who proposed an alternative model—in which the Sun was the center and the Earth was just another planet orbiting it—was derided as a heretic and a madman.
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