Discover and read the best of Twitter Threads about #heterodox
Most recents (3)
Excellent talk by Simon Sharpe @INETOxford just now, pointing out how the #climate crisis challenges economic #orthodoxy in several ways. Spoiler 🔥"Economics as a discipline has forgotten what the scientific method is" (@camjhep pointing to #heterodox ideas in defense)🧵
💡The premise: To meet our #climate goals, we need to reduce emissions globally by about 8% per year by 2030, as compared to the 1,5% p.a. achieved so far - hence the title of his book #FiveTimesFaster
1⃣ An #economy going through the rapid and far-reaching systems #transition this requires (acc. to @IPCC_CH) cannot be analysed in terms of #equilibrium, a sitation in which "nobody has any immediate reason to change their actions" according to the Oxford Dictionary of Economics. 
Aside of #MMT debate btw Galbraith and Rogoff @GaidarForum2020, there is another interesting event taking place in #Russia.
This is an appointment of new prime minister of Russian government Mikhail #Mishustin.
And this thread is my understanding of the development.
1/
This is an appointment of new prime minister of Russian government Mikhail #Mishustin.
And this thread is my understanding of the development.
1/
Just quite recently @FT published a brief profile on Mishustin in this long-read article 👇
2/ https://t.co/Kic5CYkCIU
2/ https://t.co/Kic5CYkCIU
The matter is that since 2014 Russia has been under US/EU sanctions due to its annexation of Crimea and parts of Donbas, both are #Ukraine’s territories.
Mainstream economists in the West have tended to see sanctions as a tool that would crush, punish, and restrain Russia.
3/
Mainstream economists in the West have tended to see sanctions as a tool that would crush, punish, and restrain Russia.
3/
John Maynard #Keynes was born on June 5, 1883, and died too early. Here's a few thoughts on why I keep circling back to him, & why his work forces 2 rethink the way we do & teach #economics, esp. #micro. I am sure this (partial) thread will upset someone: apologies in advance. 1/
#Keynes understood that #macroeconomics is about emergent properties: aggregate outcomes that don't make sense 2 the individuals populating the economy. The logic, e.g., of the #IncomeExpenditure model is that an economy can coordinate along any point on the 45-degree line.. 2/
and that, accordingly, we should expect economies to operate with slack. Then you have the #ParadoxofThrift and all that. He also talked about the #ParadoxofCosts when he discusses redistribution to lower income people who have higher propensity to consume... 3/
