The conference is now closed.
All papers are available for readers on the conference website. Commentators were able to write on specific papers or on several papers together. They were also able to make general comments on the conference. Comments on several papers and/or on general issues were posted in the “General Comments” page.
If you are not a WEA member, please feel invited to join us by going to the WEA website to register (no fee required): http://www.worldeconomicsassociation.org/
Merijn Knibbe, Conference Leader, and Dirk Bezemer, Co-leader
The papers
International Labour Office
The current resolution concerning statistics of the economically active population, employment, unemployment and underemployment (13th ICLS 1982), is recognized worldwide. Official national statistics for these topics are largely based on these standards. Not only do the standards define who is …
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Bartolini-Saracinno
What predicts the evolution over time of subjective well-being? GDP or Social Capital? We correlate the trends of subjective well-being with the trends of Social Capital and/or GDP. We find that in the long and medium run Social Capital largely …
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Olaf Schilgen
Economic theories are based on money as the unit of accounting, measuring and exchange. This paper discusses the usage of Energy as a physical characteristic of all commodities, all goods and services as the numéraire for measuring the size of …
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Verónica Cañal-Fernández and Manuel Hernández-Muñiz
What is wrong in the System of National Accounts (SNA)? This paper offers a new and simplified view of the role of national accounting methods and the metric used in empirical estimation of current economic activity (gross domestic product). To …
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Paata Leiashvily
Reproduction is infinitely renewable, continuous production process. This means that as a result of production its premises, conditions for continuing production are also reproduced. Without the understanding of this process, cannot be explained the functioning of economy, as an integrity, …
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Frits Bos
This paper provides an introductory overview of the meaning and measurement of national accounts statistics. Attention is paid to the various uses of national accounts, the role of the international guidelines, the relationship with economic theoretic and administrative concepts and …
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Merijn Knibbe, Erwan Mahé, Remco Schrijvers
Summary. The lack of attention to the stock of debt and, to an extent, the flow of credit by central banks and central bankers was one of the reasons why the Great Financial Crisis took them by surprise. Their focus …
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Ajit Zacharias, Rania Antonopoulos and Thomas Masterson
Household production, defined in the narrow sense as production of services by members of the household for own consumption (such as cooking, cleaning, and childcare), have long been considered as an essential activity for maintaining living standards. In the latest …
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Paul Grignon
A critical metric in economics is missing: the Perpetual Debt Level. This is the amount of bank credit money in circulation that is not available on time nor free of any other debt, to extinguish the debt to a bank …
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Scott Baker
Much has been written about the nature of money, but almost all of it treats money as if it was synonymous with debt, i.e. as debt-money. However, there exists a class of sovereign money, largely unknown in our time, but …
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