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How can we create a lasting peace? In the final episode, Professor Boyce discusses impediments to reorienting economics to the goal of building a durable peace. He identifies four major obstacles to investing in peace. The first arises from the competing objectives of decision-makers, whose commercial and geopolitical aims are not necessarily congruent with the demands of peacebuilding. The second arises from the internal incentive structures of aid agencies, where the “approval and disbursement culture” can militate against the careful calibration of incentives to advance the peace process. The third comes from ideological biases, including the misplaced preoccupation with “efficiency” manifested, for example, in antipathy to tariffs. The final obstacle comes in the form of objections in the name of “national sovereignty,” invoked for rulers in the quest for money without peace conditions attached. Confronting these obstacles requires rethinking economic theory and practice in light of the risks and enormous costs of war. Learn more at http://econofwar.org/ Directed by Matthew Kulvicki Produced by Nick Alpha
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Investing In Peace | The Economics of War & Peace Episode 7

What are the difficult choices economists face in the pursuit of peace? Professor Boyce outlines four basic dilemmas in the economics of peacebuilding. The first is the humanitarian dilemma: how to ensure that aid meant to relieve suffering does not have the unintended effect of perpetuating conflict. The second is corruption, which is sometimes seen as a cost of getting things done, but can fatally corrode state legitimacy, especially when it takes the form of “grand corruption” of high-level government officials. The third dilemma is how to handle legacies of external debt, maintaining access to credit without diverting scarce resources from other pressing post-conflict needs. As one way to address this dilemma, Boyce advocates for selective repudiation based on the doctrine of odious debt in international law. The final dilemma involves partition between the warring sides, which although often seen as a short-term solution can be a recipe for perpetual conflict in the long term. All four dilemmas force policy makers to confront trade-offs between short-run expediency and long-run impacts, trade-offs that conventional cost-benefit analysis is ill-suited to handle. Learn more at http://econofwar.org/ Directed by Matthew Kulvicki Produced by Nick Alpha
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Dilemmas | The Economics of War & Peace Episode 6

What role does public finance play in the journey from war to peace? In episode 5, Professor Boyce challenges traditional economic thinking by proposing three unconventional methods to mobilize domestic revenues in countries emerging from violent conflict. The first is by means of tariffs, which although indiscriminately disparaged by mainstream economists in the name of trade liberalization offer the most administratively feasible way to raise revenue. In particular, Boyce recommends tariffs on luxury goods such as automobiles, private airplanes, and yachts. The second is taxing the post-conflict aid boom, rather than giving across-the-board exemptions that send the message that the rich should not pay taxes. Third, he advocates treating natural resources as sovereign wealth, protecting the country from foreign and local rent-seekers and treating mineral and forest resources as belonging in equal measure to all citizens. Boyce then turns to the expenditure side of the equation, focusing on distributional impacts and on who sells goods to the government. Learn more at http://econofwar.org/ Directed by Matthew Kulvicki Produced by Nick Alpha
YouTube Video VVVwNWhHOHJ0MXoyTUo5YU5WeFkyWGRnLmR5WjVJcHVDbWs0

War-To-Peace Transitions: Peace & The Public Purse | The Economics of War & Peace Episode 5

Power isn’t just political—it’s economic, too. In Episode 4, Professor Boyce turns to the fragile transitions from war to peace, beginning with an examination of the impacts of economic policies on power balances. These include balances within warring parties between pro-peace and pro-war factions; distributional impacts on vertical (top-to-bottom) and horizontal (group-to-group) inequality; and the role of the “fiscal compact” between government and citizens in state building. Boyce illustrates with case studies from El Salvador’s civil war (1979-1991), the Bosnian war (1992-1995), and the war in Afghanistan (2001-2021), analyzing the lessons of these different experiences for economic policy in what are optimistically called “post-conflict” countries. Learn more at http://econofwar.org/ Directed by Matthew Kulvicki Produced by Nick Alpha
YouTube Video VVVwNWhHOHJ0MXoyTUo5YU5WeFkyWGRnLnJmVVgxLUt3dFEw

War-To-Peace Transitions: Balances of Power | The Economics of War & Peace Episode 4

Does economics fuel civil wars? Professor Boyce discusses the roles of greed and grievance in the emergence and persistence of civil wars. Greed, the “quest for loot,” is a socially perverse variant of individually rational behavior. Grievance stems from injustice, exclusion, and high degrees of inequality. While distinct, the two are not mutually exclusive: both can be part of the same story. Moreover, they are mutually reinforcing, as excesses of greed (i.e., oligarchy, kleptocracy) lead to grievances, which in turn lead to opportunities for greedy leaders to capitalize on discontent. The role of greed and grievance as both drivers and consequences of war helps to expose the inadequacy of the usual “shrug and smug” reactions of economists to violent conflict. Learn more at http://econofwar.org/ Directed by Matthew Kulvicki Produced by Nick Alpha
YouTube Video VVVwNWhHOHJ0MXoyTUo5YU5WeFkyWGRnLkVRS2Q0aS16T05J

Greed, Grievance & Civil Wars | The Economics of War & Peace Episode 3

What can history teach us about building lasting peace? The wars of conquest of the colonial era are prime examples of plunder, in which the occupiers benefit from resource extraction and the monopolization of trade. The settlement terms after World War I helped to set the stage for World War Two, which in turn helped to set the stage for the Cold War. The legacies of these conflicts include ongoing plunder in developing countries, the growth of a permanent arms industry, and proxy wars fought in Latin America, Africa, and Asia. Boyce reminds us that while violent conflict brings suffering to many, it also brings profits to some, and that international actors are often deeply involved in “civil wars” and, by implication, in their resolution. Learn more at http://econofwar.org/ Directed by Matthew Kulvicki Produced by Nick Alpha
YouTube Video VVVwNWhHOHJ0MXoyTUo5YU5WeFkyWGRnLnZJLXVvc1BVZXE4

Lessons From History | The Economics of War & Peace Episode 2

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From Rob Johnson

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Speaker: Dr. Vijayamba R, Assistant Professor of Economics. NLSIU, India. Vijayamba is a development economist interested in studying women’s work in the labour markets. She completed her postdoctoral stint at the Centre for Sustainable Employment, Azim Premji University, and was part of the research team behind the State of Working India (SWI) Report 2023, focusing on the role of social identities on labour market outcomes. Her PhD research focused on women’s role in the livestock economy, including their ownership of livestock assets, labour contribution, and decision-making in the livestock economy. She is currently awarded a Non-Resident Post-Doctoral fellowship by the National Council of Applied Economic Research (NCAER)-National Data Innovation Centre (NDIC) to explore measurement issues of women’s work using secondary data. Her research interests include women’s work, the utilization of time, decision-making, social norms, and issues of measurement. Her other interests include reading, travelling, and practising music. Abstract This talk presents estimates of women in economic activity using the Time Use Survey of India (TUS 2019). In India, the broad patterns of time use reveal that women engage in a predominant share of unpaid work leaving less time for employment and leisure. This paper asks if engagement in employment results in an offsetting reduction on unpaid work across different levels of education and types of employment. Identifying self-employment and wage employment from the International Classification of Activities for Time Use Statistics (ICATUS 2016), for women engaged in self-employment, there is a slight trade off with unpaid work. Whereas urban graduate women face an increased burden of unpaid work.
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This talk was hosted by the South Asia Working Group of the Young Scholars Initiative. The South Asia Working Group provides a platform for young scholars from South Asia (and those interested in the economic issues of the region) to select an issue they wish to work on, collaborate and discuss for better conceptualization of the problem and, debate, critique and improve upon solutions. We also invite scholars to suggest the most pressing problems and challenges to better guide the path for this working group. Thought this was interesting? Become a member of YSI and join the South Asia Working Group via https://ysi.ineteconomics.org/south-asia/ About the Speaker: Prof. K S James is the Senior Visiting Scholar at Newcomb Institute, Tulane University. He possesses extensive research and teaching experience in the field of Demography with a focus on South Asia. He was formerly the Director and Senior Professor of the International Institute for Population Sciences (IIPS), Mumbai, India. He also served as a Professor of Population Studies at Jawaharlal Nehru University, New Delhi and as Professor and Head of the Population Research Centre at the Institute for Social and Economic Change (ISEC) in Bangalore, India. Currently, he holds the position of Vice-president of the Asian Population Association (APA) and serves as a member of the Commission set up by the Government of Kerala, India, to formulate Kerala Urban Policy. YSI is an initiative of the Institute for New Economic Thinking. Twitter: https://twitter.com/ysi_commons​​​​ Instagram: https://www.instagram.com/ysicommunity Facebook: https://www.facebook.com/YoungScholarsInitiative Blog: https://www.economicquestions.org/​​​​
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Session 2 of Macroeconomic Development and Inclusive Growth in East and Southeast Asia. With Prof. Peter Skott, Professor Emeritus, University of Massachusetts Amherst, the United States About this series: East and Southeast Asia stand at the forefront of global economic dynamism, characterized by remarkable growth, industrialization, and technological advancements. The region has experienced significant economic transformations, shifting from agrarian economies to becoming major players in the global marketplace. East Asia, led by economic powerhouses such as China, Japan, and South Korea, has demonstrated resilience in the face of challenges, leveraging robust macroeconomic policies and technological innovation. Southeast Asia, with its diverse economies, is witnessing rapid urbanization and industrialization, contributing to its emergence as a key player in the global supply chain and geopolitics in the region. Nonetheless, the economic growth in both regions has also presented complex issues, including informal economic activities, income inequality, and the need for inclusive development. Against this backdrop, this webinar series aims to explore and contextualize the ongoing economic development challenges and opportunities in East and Southeast Asia, with a focus on the historical context of economic transitions, macroeconomic strategies, and the imperative of inclusive growth and poverty reduction. Hosted by the YSI East Asia Working Group Organized by Kosal Nith, Ninad Mukherjee, Ryan Martinez, and Jakkrya Sey YSI is an initiative of the Institute for New Economic Thinking. Twitter: https://twitter.com/ysi_commons​​​ Instagram: https://www.instagram.com/ysicommunity Facebook: https://www.facebook.com/YoungScholarsInitiative Blog: https://www.economicquestions.org/​​​
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Prof. Louis-Philippe Rochon Full Professor of Economics, Laurentian University, Canada About this series: East and Southeast Asia stand at the forefront of global economic dynamism, characterized by remarkable growth, industrialization, and technological advancements. The region has experienced significant economic transformations, shifting from agrarian economies to becoming major players in the global marketplace. East Asia, led by economic powerhouses such as China, Japan, and South Korea, has demonstrated resilience in the face of challenges, leveraging robust macroeconomic policies and technological innovation. Southeast Asia, with its diverse economies, is witnessing rapid urbanization and industrialization, contributing to its emergence as a key player in the global supply chain and geopolitics in the region. Nonetheless, the economic growth in both regions has also presented complex issues, including informal economic activities, income inequality, and the need for inclusive development. Against this backdrop, this webinar series aims to explore and contextualize the ongoing economic development challenges and opportunities in East and Southeast Asia, with a focus on the historical context of economic transitions, macroeconomic strategies, and the imperative of inclusive growth and poverty reduction. Hosted by the YSI East Asia Working Group Organized by Kosal Nith, Ninad Mukherjee, Ryan Martinez, and Jakkrya Sey YSI is an initiative of the Institute for New Economic Thinking. Twitter: https://twitter.com/ysi_commons​​​ Instagram: https://www.instagram.com/ysicommunity Facebook: https://www.facebook.com/YoungScholarsInitiative Blog: https://www.economicquestions.org/​​​
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This discussion was part of YSI's Money and Finance Reading Group. The session focused on Schumpeter’s History of Economic Analysis with Jan Toporowski and Perry Mehrling. To join the next discussion live, join the reading group here: https://ysi.ineteconomics.org/event/money-and-finance-reading-group/2024-05-09/ YSI is an initiative of the Institute for New Economic Thinking. Twitter: https://twitter.com/ysi_commons​​​ Instagram: https://www.instagram.com/ysicommunity Facebook: https://www.facebook.com/YoungScholarsInitiative Blog: https://www.economicquestions.org/​​​
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A fireside chat on CBDCs and stablecoins offers a valuable opportunity to exchange ideas, share perspectives, and deepen understanding of the evolving landscape of digital currencies and its implications for the future of finance from a perspective of political economy. A fireside chat will provide an engaging and informative discussion on the rapidly evolving landscape of digital currencies and their implications for the financial system. During the program the audience will get an overview of CBDCs and Stablecoins. The topics include: (i) Benefits and Risks of CBDCs, (ii) Stablecoins and Market Stability, (iii) Regulatory Considerations. We will also focus on the global Perspectives and use cases Organizers Ádám Kerényi Saleem Khan Gerhardt "Kiko" Kalterherberg Aneesha Chitgupi YSI is an initiative of the Institute for New Economic Thinking. Twitter: https://twitter.com/ysi_commons​​​ Instagram: https://www.instagram.com/ysicommunity Facebook: https://www.facebook.com/YoungScholarsInitiative Blog: https://www.economicquestions.org/​​​
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