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Alternatives
The Implosion of Global Capitalism: The challenge for the radical left
Samir Amin

In the context of capitalism imploding in the form of the ongoing crisis, the author explores the possible alternatives that can succeed the present world order.

Egypt should Say Yes to Emergency Assistance, but No to the Failed Development Model of the Past
Rick Rowden
Egypt should refuse the IMF loan as the associated conditionalities would further push the neoliberal development model that has created much of Egypt's problems.
   
The Emerging Left in the Emerging World
Jayati Ghosh
In this article, the author reviews several features of emerging left movements in Latin America, Africa and developing Asia that suggest a move away from some traditional ideas associated with socialist theory and practice even as there are two important areas of continuity with the leftist thinking of the past.
Human Security and the Next Generation
of Comprehensive Human Development Goals
Gabriele Koehler, Des Gasper, Richard Jolly, Mara Simane
2015 marks the target year of the Millennium Development Goals (MDGs) adopted by the UN in 2000. The goals have not yet been fully achieved due to various reasons, and the unfulfilled agendas need immediate attention. This paper makes a case for extending the MDGs beyond 2015 but significantly reshaping them: to make progress towards goals more explicitly rights-based and participatory, to prioritise economic and social equity and environmental sustainability, to insist on the centrality of employment and decent work, and to move away from the outdated and oversimplified North-South dichotomy.
   
Beyond GDP: Measuring our progress
Charles Seaford, Sorcha Mahoney, Mathis Wackernagel, Joy Larson, Réne Ramírez Gallegos
It is now widely accepted that one must move beyond viewing GDP as the critical measure of a nation's progress and recognise it for what it is - a measure of economic exchange, which is itself a means to an end; the 'end' being the achievement of 'sustainable well-being'. In this paper, the authors focus on ways of measuring environmental sustainability and well-being, as well as offering a view from the global South which entails measures of both of these.
Monetary Union Stability: The need for a government banker and the case for a European public finance authority
Thomas I. Palley
There is accumulating evidence that the euro's current architecture is unstable. The source of instability is high interest rates on highly indebted countries which creates unsustainable debt burdens. Remedying this problem requires a central bank that acts as government banker and pushes down government bond interest rates to sustainable levels. That can be accomplished by the creation of a European Public Finance Authority (EPFA) that issues public debt which the European Central Bank (ECB) is allowed to trade.
   
Modernizing Russia: Round III. Russia and the Other BRIC Countries: Forging ahead, catching up or falling behind?
Erik S. Reinert and Rainer Kattel
Looking at Russian economic dynamics through evolutionary and Schumpeterian Other Canon lenses, the authors provide alternative explanation as to why Russia is still lagging behind other BRIC and leading catching-up economies. In this context they argue that learning from successful cases of managing industrial policy under the WTO – what the rest of the BRIC economies have long been doing – is perhaps the main issue for Russia's economic policy-making in the near future.
Rethinking Investment Provisions in Free Trade Agreements
Smitha Francis
Developing country governments are increasingly resorting to comprehensive trade agreements involving profound commitments in public policy, which have wide-ranging adverse consequences on food security, industrial development, financial stability, etc. This paper analyses investment disciplines in FTAs in order to come to an understanding of their overall impact on a developing country FTA partner's policy space, and therefore, on its development prospects. It is argued that given the links between trade and investment commitments within and across different FTAs, South-South FTAs have become as problematic as North-South FTAs.
   
Development Banks: Their role and importance for development
C.P. Chandrasekhar
The role of development banks in the development trajectories of late industrialising, developing countries cannot be overemphasised. However, with financial liberalisation of the neoliberal variety transforming financial structures, some countries are doing away with specialised development banking institutions on the grounds that equity and bond markets would do the job. This is bound to lead to a shortfall in finance for long-term investments, especially for medium and small enterprises.
Evolution Versus Equilibrium
Jan Kregel
Post Keynesian economists have followed Joan Robinson's criticism of general equilibrium theory as abolishing history by allowing all contracts to be executed today for all future contingencies. This was the justification for the support of financial innovation to provide for the completeness of futures markets. The recent crisis has shown that force of history. Instead, many evolutionary and Keynesian economists have suggested the approach of cumulative causation as an approach that includes history and eschews equilibrium. This approach may provide a way to take history seriously in economic analysis.
   
Coordination of Innovation Policies in the Catching-up Context: A historical perspective on Estonia and Brazil
Erkki Karo and Rainer Kattel

This paper highlights some of the crucial weaknesses of innovation policy-research that limit the relevance of this research for policy-making practices in catching-up countries. The authors propose a framework that takes a multi-level and dynamic approach towards studying innovation-policy-making processes. Applying this framework, the authors examine the evolution of innovation policy and governance trajectories of Estonia and Brazil and how this has affected the capacities for technological accumulation and development.

Measuring the Progress of Societies:
A Mexican perspective
Alicia Puyana

The author delves into the concept of progress and development; how the definitions have changed over changing global paradigms, how the subject of economics itself has witnessed reinterpretations etc.
The article is written in the context of the experiences of Mexico over the last 50 years.

   
2010 - A Year of Innovations in the Global Poverty Reduction Agenda
Timo Voipio and Gabriele Koehler

2010 has been a tumultuous year. It has been marked by major policy regressions with many countries reverting back to severe austerity programmes - or 'fiscal consolidation', thus increasing socio-economic divides. At the same time, however, as a notable countermovement, there have been seven policy innovations on the global poverty and social justice agenda.

Ten Theses on Neo-developmentalism
On May 24 and 25 of 2010, a group of economists sharing a Keynesian and structuralist development macroeconomics approach convened in São Paulo to discuss ten theses on New Developmentalism. This document is a summary of the suggestions that emerged from the two day long discussion.
   
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Economics Associates 2013
 

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