ROCKWOOL Foundation Berlin’s Post

🆕 Chapter of the Handbook of Labor Economics: Arin Dube and Attila Lindner survey the literature on the impact of minimum wages on low-wage labor markets. https://lnkd.in/eJhC4_QR 📻 You can listen to Arin Dube expand on the themes of this chapter on "Handbook Talks", our podcast series dedicated to the new volumes of the Handbook of Labor Economics. https://lnkd.in/e2-tUCRz

Is there anything better than economics? Apparently, some of our students think so. SHOCKING! In this episode, we discuss how to recruit undergrads into the study of economics. This must be what it's like to sell lima beans... https://lnkd.in/dDCub_Nv

🆕 Chapter of the Handbook of Labor Economics in our #DiscussionPaper Series: Pierre Cahuc provides an in-depth overview of the economic literature on short-time work programs, exploring their history, impact on employment and policy implications. https://lnkd.in/dSvePkNE

Roland Fryer's WSJ op-ed "The Economics of Identity" offers powerful insights into human decision-making. Discover how economics can explain the impact of identity on personal choices and institutional effectiveness. Fryer's work illuminates crucial factors in addressing workforce challenges in our evolving economy. Give it a read! https://lnkd.in/eF4qQ3XK

In his book “Making Sense of Chaos: A Better Economics for a Better World,” SFI’s Doyne Farmer challenges traditional economic theory, offering an alternative: #ComplexityEconomics. 💡 Farmer argues for a shift from flawed assumptions to a more nuanced understanding of human behavior, drawing from complexity science tools. And while the idea of complexity economics is not new, the book points out that because our access to data, computing power, and knowledge of ourselves has grown, the time for complexity economics has come — and not a moment too soon. https://lnkd.in/eqHR7-4r Farmer’s book has already been published in the UK and will be available in the US August 6, 2024.

Maybe there is actual potential for economics to become a real science, rather than a collection of competing theories in an imperfect and inadequately understood world.

Traditional economics still holds onto the concept of the "rational actor" - a concept that assumes that with complete information, one will make decisions directly in line with their preferred outcomes, and that from "one to all" can be aggregated quite simply to give statistical assurance about a trend. This useful mathematical simplification has - perhaps unintentionally - come to dominate economic modeling in the past decades. However, there's a new way of thinking that is emerging which focuses on individuals and their imperfect decisions based on the incomplete information that they actually have access too. Sounds much more realistic right? #ComplexityEconomics and some of the new modeling paradigms like agent-based modeling is the way forward to help understand this increasingly complex, interconnected world we operate in. Of course Santa Fe Institute is at the forefront of this. Doyne Farmer is an academic / practitioner whose work and thinking I follow quite a bit. I'm looking forward to reading this one.

If you’re tired of the same old economic ideas, it’s time for something new. 📊 📗 Dr. John Phillips Weldon’s groundbreaking book, After Macroeconomics, challenges outdated methods and offers a fresh perspective that could reshape the future of economic management. Are you ready to rethink everything? 🔄 📊 📈 Grab your copy now on Amazon and start challenging the status quo! 📖 https://lnkd.in/duYEHsXr #aftermacroeconomics #johnphillipsweldon #economicsbook #economicefficiency #publicsectorreform #economicaccountability

Hi, Everyone! 🌟 The latest issue of The Economist from December 21st, 2024, is here! 📖 It's the final issue of the year, packed with insightful articles and analyses to keep you informed and inspired as we step into 2025. Stay tuned as the audio files and PDF version will be uploaded soon. 🎧📄 We can't wait for you to dive in and enjoy the reading! #TheEconomist #Economics #2024Recap #LatestIssue #EconomicInsights #GlobalTrends #StayInformed #TE2024 #HappyReading #Economist2025 #NewYearKnowledge #AudioFiles #PDFDownload #EconomistCommunity #EconomicAnalysis

How do we create an economy that truly works for everyone? 🌍  It’s a big question ❓, and Dr. John Phillips Weldon introduces a new way to make it happen in After Macroeconomics. This book offers a fresh approach to public policy that focuses on fairness and effectiveness. 📊 📈 ☑️ This book is a must-read if you’re interested in seeing real change and building a better future for all. Get your copy on Amazon today and join the movement for a more inclusive economy!📗 https://lnkd.in/duYEHsXr #aftermacroeconomics #johnphillipsweldon #economicsbook #mustreadbook #brexitimpact #financialregulation #economicefficiency #publicsectorreform