Lectures 1 to 5: GARY DYMSKI (Professor of Economics and Director of the University of California Centre at Sacramento) offered a mini course (comprising 5 lectures) on Financial Development, Financial Exclusion and the Financial Crises – Monday 16/2/2009, Tuesday 17/2/2009, Wednesday 18/2/2009, Thursday 19/2/2009 and Friday 20/2/2009, at 17.00-20.00. His transparencies are available below, as is a number of related papers.

Dymski's transparencies:

·         Lecture 1 -  From efficient markets to financial fragility

·         Lecture 2 -  Crises at a global scale: The 1980s and 1990s

• Lecture 3 -  Micro scale crises of social reproduction
• Lecture 4 -  Banks without capital OR Capitalism without banking?
• Lecture 5 -  Hegemonic transition and the sub=prime crisis

Dymski's references:

A complete readings list for the entire course structure can be downloaded here.  Selected readings can be downloaded below:

·          John Maynard Keynes, “The General Theory”, QJE, 1937

·          Veronika Dolar and Césaire Meh, “Financial Structure and Economic Growth: A Non Technical Survey,” Bank of Canada Working Paper 2002-24. Ottawa: Monetary and Financial Analysis Department, Bank of Canada, September 2002.

·          Joseph E. Stiglitz and Andrew Weiss, “Credit Rationing in Markets with Imperfect Information,” American Economic Review, March 1983.

·          Joseph Stiglitz, Vallejo and Park (1993). “The role of the state in financial markets”, World Bank Research Observer

·          Hyman Minsky, “Money, financial markets and the coherence of a market economy”, Journal of Economic Issues 20:2, June 1986.

·          Hyman Minsky, “The Evolution of Financial Institutions and the Performance of the Economy,” Journal of Economic Issues 20:2, June 1986.

·          Gary A. Dymski and Robert Pollin, “Hyman Minsky as Hedgehog: The Power of the Wall Street Paradigm," with Robert Pollin, in Financial Conditions and Macroeconomic Performance. Ed. Steven Fazzari. Armonk, NY: M.E. Sharpe, 1993: 27-62.

·          Gary A. Dymski, “Financial Globalization, Social Exclusion, and Financial Crisis,” International Review of Applied Economics, Vol. 19(4), November 2005: 441-459.

·           Gary A. Dymski, “Financial Risk and Governance in the Neoliberal Era”, 2008

·           Gary A. Dymski, “Why the sub-prime crisis is different”, 2008

·           Jan Kregel, “Minsky’s cushions of safety", Levi Institute, 2008

·           L. Randall Wray, “Financial Markets Meltdown: What can we learn from Minsky?”, Levi Institute, 2008  

Lecture 6: SILVANA DE PAULA (Rio de Janeiro), Friday 20/2/2009, at 15.00

Silvana de Paula is professor at the Graduate Program of Social Sciences in Agriculture, Development and Society

(CPDA) of the Federal Rural University of Rio de Janeiro (UFRRJ). She is also professor of the Graduate Program on Public Policies, Development and Strategies (PPDE), at the Federal University of Rio de Janeiro (UFRJ), where she teaches a course regarding social responsibility of firms and civil society organizations. Her topic for our UADPhilEcon seminar is entitled:

Urban scene: from the eye of the flaneur to the electronic eye (clickable) 

Lecture 7: JONATHAN NITZAN (York, Canada), Monday 23/2/2009, at 18.00

Jonathan Nitzan is professor of political science at the Faculty of Arts of York University, Canada. He has recently authored a book (published by Routledge) entitled Capital as Power. (For more material on Jonathan’s work, click the following links: The Bichler & Nitzan Archives and Critical Mass: A Forum on Political Economy and Power) Jonathan’s lecture at UADPhilEcon is entitled

The Crash of the Mismatch Thesis (clickable) 

Lectures 8&9: STUART HOLLAND (Coimbra, Portugal), Tuesday 24/2/2009 and Thursday 26/2/2009 at 18.00

Stuart Holland is an former member of British Parliament, academic economist, protagonist during some of the more poignant institutional moments of the European Union and, last but not least, a friend of and regular visitor at UADPhilEcon. His two talks will be centred upon the following, related, questions and will allude powerfully to the structure and nature of a desirable New Bretton Woods. Click here for two relevant papers: An Agenda for the G20 and The G20 and a proposal for a New Bretton Woods(Both papers were written in early 2009)

Crisis for economic theory? Crisis for capitalism? (not clickable)

Lecture 10: DAVID LAIBMAN  (Brooklyn College, CUNY, USA and UADPhilEcon, University of Athens), Tuesday 3/3/2009, at 18.00

Toward a theory of capitalist finance (not clickable)

Lecture 11: SHEILA DOW (Stirling, Scotland), Tuesday 7/4/2009, at 18.00

Sheila Dow is professor of economics at the University of Stirling. Her research interests include the methodology of economics and the theory of money, banking and monetary policy. Her talk at UADPhilEcon will be entitled

Lecture 12: COSTAS LAPAVITSAS (SOAS, University of London), Tuesday 12/5/2009, at 18.00

Costas Lapavitsas is Reader in Economics at SOAS, University of London where he teaches Finance, Development Economics and Marxian Political Economy. His presentation at UADPhilEcon will span these topics with a view to throw explanatory light on the current global economic crisis. His tentative title is:

Lectures 13&14: GAVAN BUTLER (University of Sydney, Australia, and Thammasat University, Bangkok), Tuesday 19/5/2009 and Thursday 21/5/2009, both at 18.00

Gavan Butler is Professor of Political Economy at the University of Sydney where he has been instrumental in the setting up of a successful degree in political economy (both as the graduate and the postgraduate levels) as well as the Australian Journal of Political Economy. Gavan also teaches in Thailand, at the Thammasat University in Bangkok. His research interests include economic development and crises in South East Asia. His topic for the UADPhilEcon lectures is:

Globalisation, the Crash of 2008 and Possible East Asian Regional Responses (clickable)

Lecture 13

Preamble: Opening discussion of ‘Asia’s Fate in the New World order’ by Mark Thirlwell, specifically his Five Stories* (clickable)

1. Globalisation as manifested in Northeast Asia and Southeast Asia

A definition with reference to patterns of trade and investment flows. Regionalisation of Japanese production networks. Financial flows. Enduring inequalities. Scope for national policy responses, with special reference to the ‘developmental state’.

2. The Global crisis and East Asia

As a financial crisis. US indebtedness to East Asia. Impacts on various markets. As a crisis of the real (global) economy. Falling demand for exports to Japan, Europe, the US. Impacts on construction and services.
Remembering Marx and Kalecki

Lecture 14  Regionalism in East Asia as a response

1. The momentum of regionalism in East Asia.

ASEAN and ASEAN plus 3. Compatibility with WTO. Monetary cooperation. ‘Regionalisation of Japanese keiretsu and of the Japanese state’. Ethnic Chinese links within East Asia.

2. Why should nation states respond with greater emphasis on regionalism?

Considerations of markets, investment outlets and finance flows. The dynamics of the EU, especially wrt policy convergence. The limits of East Asian regionalism

3. Chinese urgency and a regional response

Why the Chinese may feel a sense of urgency. The lag in any regional response. How coincident are Chinese and regional interests?

Additional references

• Bangkok Post editorial (2009), ‘Time for action on economic reform’, Bangkok Post, April 19th
• Beeson, Mark (2007), Regionalism and Globalization in East Asia: Politics, Security and Economic Development, Basingstoke UK, Palgrave Macmillan. Click here for Part A, here for Part B and here for Part C.
• Chang Ha-joon (2006), The East Asian Development Experience, Penang Malaysia, TWN, Chapters 1 and 7
• Green, David (2009), ‘Too Little, Too Late in Southeast Asia’, Far Eastern Economic Review, March
• Grimes, William W (2009), Currency and Contest in East Asia, Ithaca and London, Cornell University Press. Click here for Part A of the article and here for Part B
• Haggard, Stephan, et al (2004), ‘The Re-printing of Governing the Market’, in Issues and Studies, Volume 40, No 1, March 2004, pp 14-134
• Hatch, Walter (2002), ‘Regionalizing the State: Japanese Administrative and Financial Guidance for Asia’, Social Science Japan Journal, Volume 5, No 2, pp179-97 http://ssjj.oxfordjournals.org/cgi/reprint/5/2/179  
• Hatch, Walter and Kozo Yamamura (1996), Asia in Japan’s Embrace: building a regional production alliance, Cambridge, Cambridge University Press (clickable)
• Jomo K S (ed) (2001), Southeast Asia's Industrialization: industrial policy capabilities and sustainability, Basingstoke UK, Palgrave-Macmillan, Chapters 1 ‘Introduction: Growth and Structural Change in the Second-Tier Southeast Asian NIC’s’, pp 1-29, by Jomo, and 2, ‘Initial Conditions and Miraculous Growth: Why is Southeast Asia Different from Taiwan and South Korea?’, pp 30-58, by Anne Booth
• Jomo K S (2003) (ed), Manufacturing competitiveness in Asia: how internationally competitive national firms and industries developed in East Asia, London, Routledge Curzon, introductory chapter by Jomo, and chapter by Ha-joon Chang on industry policy (clickable)
• Hamilton-Hart, Natasha (2005), ‘The Regionalization of Southeast Asian Business: Transnational Networks in National Contexts’, in Pempel (ed), op cit
• Kang, David (2207), China Rising: Peace, Power and Order in East Asia, New York, Columbia University Press
• Katzenstein, Peter J and Takashi Shiraishi (2006), Beyond Japan: the Dynamics of East Asian Regionalism, Ithaca and London, Cornell University Press (clickable), especially chapters by Katzenstein on ‘East Asia – Beyond Japan’ (Chapter 1), Natasha Hamilton-Hart on ‘Creating a Regional Arena: Financial Sector reconstruction, Globalization, and Region-Making’ (Chapter 5), and Takashi Shiraishi on ‘ The Third Wave: Southeast Asia and Middle-Class Formation in the Making of a Region’ (Chapter 10). For the book's bibliography click here and here.
• Natsuda Kaoru and Gavan Butler (2005), ‘Building Institutional Capacity in Southeast Asia: Regional Governed Interdependence’, ASEAN Economic Bulletin, Volume 22, No 3, December (clickable)
• Pempel, T J (ed) (2005), Remapping East Asia: The Construction of a Region, Ithaca NY, Cornell University Press (clickable)
• Pempel, T J ((2001), ‘Japanese domestic politics and Asian regionalism’, Chapter 3 in S Javed Maswood (ed), Japan and East Asian Regionalism, London and New York, Routledge (Japanese Studies Series)
• Stiglitz, Joseph (2002), Globalization and Its Discontents, New York, W.W. Norton & Company, also published in the U.K. by Penguin Books, selected chapters
• UNCTAD (2008), World Investment Report 2008 (with particular attention to Transnational Corporations and the Infrastructure Challenge), New York and Geneva, United Nations
• Wade, Robert (2002), ‘US Hegemony and the World Bank: The Fight over People and Ideas,’ Review of International Political Economy Volume 9, No 2, pp 215-243
• Wade, Robert (2003), ‘What strategies are viable for developing countries today? The WTO and the shrinking of development space’, Review of International Political Economy, Volume 10, Number 4, pp 621-644
• Wade, Robert (2003-2004), ‘Creating Capitalisms’  (clickable), introduction to the reprinting of his book, Governing the Market: Economic theory and the Role of Government in East Asian Industrialization, Princeton and London, Princeton University Press, 2004
• Woo-Cumings, Meredith (ed) (1999), The Developmental State, Ithaca NY, Cornell University Press, especially articles by Woo-Cumings, ‘Introduction: Chalmers Johnson and the Politics of nationalism and Development (Chapter 1), pp 1-31 (clickable) , and Chalmers Johnson, ‘The Odyssey of a Concept’ (Chapter 2), pp32-60
• World Investment Report, 2008 (clickable)
• World Trade Organisation, Trade Report, 2008 (clickable)
• Yoshimatsu Hidetaka (2003), Japan and East Asia in Transition: Trade Policy, Crisis and Evolution, and Regionalism, Basingstoke UK, Palgrave Macmillan
Zhen Wen and Liao Shaolian (2005), China – ASEAN Trade Relations: a discussion o complementarity and competition, Singapore, ISEAS
 

Lecture 15: George Krimpas (Athens and UADPhilEcon), Tuesday 26/5/2009, at 18.00  

George Krimpas is Emeritus Professor of Economics and the University of Athens and teaches philosophy and Keynesian economics at UADPhilEcon. His talk will be on:

Lectures 16&17: CHRISTIAN ARNSPERGER  (Université Catholique de Louvain, Belgium), Monday 2/6/2009 and Tuesday 3/6/2009

Christian Arnsperger teaches economic philosophy at the Catholic University of Louvain, in Belgium, and is the author of (among others) a recent book entitled Critical Political Economy. He is also a regular visitor at UADPhilEcon and will offer his perspective on the Crash of 2008 and beyond in a talk provisionally entitled:

Lecture 18: Thanassis Maniatis (Athens and UADPhilEcon), Tuesday 9/6/2009, at 18.00

Thanassis Maniatis is Assistant Professor at the University of Athens and teaches Marxist Political Economy at UADPhilEcon. His theme will be

Lectures 21&22: Joseph Halevi (Sydney and Torino)

Monday 18/1/2010 at 18.00: THE STATE OF ECONOMICS IN LIGHT OF THE CURRENT GLOBAL ECONOMIC CRISIS (not clickable)

Thursday 21/1/2010 at 19.00: at the Dracopoulos Amphitheatre: THE STATE OF THE GLOBAL POLITICAL ECONOMY FOLLOWING THE CRASH OF 2008 (not clickable)

Lecture 23: Peter Sinclair (University of Birmingham), Tuesday 9/3/2010 at 17.30:

How we might model a credit squeeze, and draw some policy implications for responding to it .

Click here for a handout on "FINANCIAL wisdom" and here for some material on "The Financial Crisis and its Fiscal Consequences".

Lecture 24: Eckhard Hein (Berlin School of Economics and Law) , Tuesday 16/3/2010 at 17.30

Finance-dominated capitalism in crisis - the case for a Global Keynesian New Deal (clickable) co- authored with Achim Truger. 

Lecture 25: Alan Kirman (University of Marseilles), Thursday 13/5/2010 at 18.30, Kostis Palamas Building, Academias and Sina Corner.

The Economic Crisis is a Crisis of Economics

(not yet clickable)

Please note that Professor Kirman's lecture will be presented at the Kostis Palamas Building and will be hosted jointly with UADPhilEcon's the 3rd International PhD Students' Conference.