Gilles Saint-Paul. Economic Science and Political Influence

When policymakers and private agents use models, the economists who design the model have an incentive to alter it in order to influence outcomes in a fashion consistent with their own preferences. I discuss some consequences of the existence of such ideological bias. In particular, I analyze the role of measurement infrastructures such as national statistical institutes, the extent to which intellectual competition between different schools of thought may lead to polarization of views over some...

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Jess Benhabib. A Note on Regime Switching, Monetary Policy, and Multiple Equilibria

When monetary policy is subject to regime switches conditions for determinacy become more complex. Davig and Leeper (2007) and Farmer, Waggoner and Zha (2009a) have studied such conditons. Using some new results from stochastic processes, we characterize the moments of the stationary distribution of inflation under regime switiching to obtain conditions for indeterminacy that can be easily checked and interpreted in terms of expected values of Taylor coefficients. In the last section, we outline...

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John Todd. An Ecological Economic Order.

Not long before E. F Schumacher's death, I was with him at an appropriate technology congress on the Indonesian island of Bali. Although I had known Fritz for years, my most cherished memory of him is from the Balinese countryside. We were visiting an international development project that included a modern fish culture facility. Unlike the rest of the food culture on the island the demonstration fish farm seemed alien—with fences, rectangular ponds, and its separation from the agriculture a...

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Neva Goodwin. A New Economics for the 21st Century.

The critical role for economic theory is no longer simply to explain how the existing system works, but also to explore how the economic system can be changed to become more adaptive and resilient in the face of the challenges of the 21st century, and how it can be more directly designed to support human well-being, in the present and the future. Simultaneous changes are needed, in both the actual economy (how it functions, by what rules, how it can be made responsive to constraints) and al...

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David Morris. Reclaiming Community.

It's a pleasure to be here. Given that I am speaking to you from a pulpit, I might begin my talk with fire and brimstone: "Brothers and Sisters and Children of God, repent. Avoid the temptations of centralization and walk into the light of smallness and humanly scaled systems.” Despite the setting, I'm not here to deliver a sermon but rather to initiate a conversation about scale and authority and responsibility. I'm especially honored to be here under the auspices of the E. F. Schumacher S...

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David Korten. Creating a Post-Corporate World.

This awakening first caught the public's attention on November 30, 1999, when some 50,000 union members, people of faith, environmentalists, youth, indigenous peoples, gays and lesbians, farmers, health workers, and peace, civil-rights, and human-rights activists took to the streets of Seattle to oppose corporate globalization. Deeply committed to nonviolent resistance, they courageously stood their ground in the face of the rubber bullets, tear gas, and pepper spray used by violent police b...

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