I recently started working at the Social and Economic Geography research group of Ghent University, in the team of professor Ben Derudder. We study financial networks in collaboration with the team of professor Sabine Dörry at the Luxembourg Institute of Socio-Economic Research.
But why am I at the department of geography instead of economics? In other words, what exactly is financial geography? I have to admit that I didn’t know until a couple of months ago.
This post is an attempt to describe what financial geography is, and what sets it apart from other fields that study finance.
How are economic statistics collected? Do economic models correspond to observable reality?
In a world where markets and politicians respond strongly to things like gross domestic product (GDP) figures and economic forecasts, these are important questions. Unfortunately, discussion often jumps directly to the interpretation of new data or the output of models. Students are rarely challenged to question what the data and the models represent.
The Up to the Mountains and Down to the Countryside Movement was a government policy in the People’s Republic of China during the 1960s and 1970s. From Wikipedia: “privileged urban youth [were] sent to mountainous areas or farming villages to learn from the workers and farmers there.”
A lot of economists and economic historians study aggregated data, e.g. gross domestic product, inflation, trade flows, or productivity.
Can we avoid another financial crisis? Ten years after the Global Financial Crisis (GFC), we’ll hear the opinions of countless pundits about the likelihood of a new crisis. However, few commenters will be able to answer the question as profoundly as professor Steve Keen. Keen elaborated his views in the 2017 book with the appropriate title Can we avoid another financial crisis?Continue reading “Can we avoid another financial crisis?”
I frowned the first time somebody introduced me as an ‘economist’. After all, I don’t have a piece of paper that says I’m an economist. But upon reflection I realized that it was true. In effect, I had indeed become an economist. How did that happen? Continue reading “How I became an economist”
Economists are fond of analogies to describe technical ideas.
Most of those analogies are confusing and/or useless. As I wrote in the introduction of Bankers are people, too:
Economists and journalists writing for lay audiences tend to use metaphors when explaining financial concepts. For example: ‘Cheap credit is like heroin. It’s addictive, and the economy can overdose from it.’ That may sound nice, but what does it even mean?