Iceland vs. Greece: could Iceland be the role model for Greece? with Eva Önnudóttir & Spyridoula Nez

by Patricia Polderman & Alex Lantos The two countries were both heavily affected by the 2008 Financial Crisis that originated from the mass default of subprime mortgage loans in the United States. Both crises essentially began with a political announcement, be it Iceland’s former Prime Minister revealing the country’s failing financial system with the unprecedented…

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What´s wrong with the current financial system – The Washington Consensus vs. Economic Development – with Richard Werner

by Anke Kläver and Sylvia Ambrusova Just before the weekend, we heard the lecture from Mr. Richard Werner, who is a professor at the Southampton Business School. In the first part, he introduced the main points of the Washington Consensus of 1944 and identified the so-called 6 central claims of the Washington centred financial order….

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Theory of Change (Part 1) with Nina Thüllen & Karin Küblbock

by Issam Eddine Abail & Paulus Higginson The AEMS summer school has been a great opportunity for all of us to learn new alternative tools and concepts in different fields related to economics and monetary systems. That made us eager to apply what we have learnt to deliver positive change to our societies and local…

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Money Day with Bernard Lietaer – Post 2

by Aishwarya Krishnan & Olena Kokliagina In 1903, an American woman named Elizabeth Magie devised a widely popular but rather misunderstood learning tool, masked as a board game, as a protest against the concentration of wealth and assets in private monopolies and the evils of the new economic policies of that time. This game is…

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The Financial System of the Future: A Panel Discussion with B. Lietaer, C. Felber & B. J. Krouwel

by Aishwarya Krishnan and Francini Van Staden Under the facilitation of Helga Kromb-Kolb, the three panel speakers, Christian Felber, Bart Jan Krouwel and Bernard Lietaer engaged in a discussion about the flaws in the existing financial system, the future of the financial system and changes that they envision in the coming times. The speakers had commonalities…

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An Economic Evolution of Understanding Human Irrationality

by Jake Senior & Enrico Tola Economic models throughout history have been based on various views of human rationality. Rational behavior can have profound impacts on individuals, economies and the environment. If the system makes the individuals act rationally and only in their self-interest, this can result in ultimately irrational outcomes for the society overall….

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Money Day with Bernard Lietaer – Post 1

by David Ellmayer & Carlos Castro On Thursday, August 3rd the AEMS summer school had an introductory lecture by Bernd Lietaer about the basic properties of our monetary system. Bernd Lietaer is an economist and author whose main interests are complementary currencies and the historical role of money in society. His lecture started with a…

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Money Day with Bernard Lietaer – Post 3

by Sebastian Patrick and Premtim Kastrati We were very fortunate to  listen to Bernard Lietear’s lecture as part of the AEMS summer school at the BOKU on Thursday 03.08.2017. Bernard Lietear, who was born in 1942, is a civil engineer, economist, author and professor. He promotes the need for monetary diversity as a means of…

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