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NALSU NEWS: Labour Studies podcast/video:Professor Alejandro Nadal | "From Micro to Macroeconomics for Sustainability: The Delusion of Micro-foundations"
TOPIC: Macro-economic theory, and policy-making, are dominated by the view that markets are well-behaved and converge to equilibrium. This view rests on assumptions that economic behaviour is based on utility maximisation and rational expectations.
However, this dominant approach struggles to epxlain common phenomena, like involuntary unemployment. In this presentation, Professor Alejandro Nadal of El Colegio de México assesses the validity of this approach, by taking a hard look at its micro-foundations -- and considers alternative frameworks.
DETAILS: This is a recording of a live event in the Neil Aggett Labour Studies Unit (NALSU) Labour Studies Seminar Series, held on Wednesday, 19 September 2018, at Eden Grove, Seminar Room 2, Rhodes University, Makhanda, South Africa.
YOUTUBE: https://youtu.be/EN835AIl4XQ
PODCAST: https://podcasters.spotify.com/pod/show/nalsu
SPEAKER: Alejandro Nadal is Professor at the Centre for Ecnonomic Studies of El Colegiode Mexico. He received his PhD in Economic from the University of Paris (Nanterre) in 1981. His publications cover a wide variety of subjects, from technical change and resource management, to macroeconomics and general equilibrium theory. He is the author of "Rethinking Macroeconomics for Sustainability" (Zed Books 2011), a book designed to link the most pressing issues in macroeconomics with the ke components of debate on global sustainability. He was Chair of the Theme on the Evironment, Macroeconomics and Social Policy and the International Union for Conservation of Nature (CEEP-IUCN) from 2004 to 2016. He has been on the editorial boards of many academic journals, including "World Developement" and the online academic journal "Economic Though of the World Economics Association". Professor Nadal publises a weekly column in "La Jornoda", one of Mexico's national newspapers.
ABOUT NALSU: Based in the Eastern Cape, South Africa, NALSU is engaged in policy, research and workers' education. Built around a vibrant team, including from the disciplines of Sociology and Economics, NALSU has a democratic, non‐sectarian, non-aligned and pluralist practice, and active relations with a range of advocacy, labour and research organisations. We draw strength from our location in a province where the legacy of apartheid and the cheap labour system, and post-apartheid contradictions, are keenly felt. NALSU is named in honour of Neil Hudson Aggett, union organiser and medical doctor who died in an apartheid jail in 1982 following brutality and torture.