Stephan Gruber

Stephan Gruber

@stephangruber.bsky.social

Post Doctoral Researcher @MPIfG_Cologne . Economic Sociology / Political Economy / Economic Thought / Social Change / Central Banks / Latin-America

570 followers430 following55 posts

Stephan Gruber
@stephangruber.bsky.social

Anchoveta's collapse does not only mean an important hit in Peru's GDP, and scarcity of (noy only anchoveta) fishes in Peru, but a massive blow to the whole food chain that uses FIshmeal. Peru's export represent a third of the whole market. This will translate in inflationary pressures throughout.

Stephan Gruber
@stephangruber.bsky.social

While state-regulatory legacies from the 1970s had remained strong to put limits to over-fishing, it is important to face the declining production and the nature of an increasingly private-foreign dominated industry.

Stephan Gruber reposted

robin celikates
@robin-c.bsky.social

join us in Berlin for our workshop TOWARDS A SOCIAL THEORY OF FASCIZATION w/ Zeynep Gambetti, Dagmar Herzog, Henrike Kohpeiß, Daniel Loick, Robyn Marasco, Morten Paul, Eva von Redecker, Bafta Sarbo, Simon Strick, Isabella Weber & many more criticaltheoryinberlin.de/event/toward...

criticaltheoryinberlin.deTowards a Social Theory of Fascization - KTBWorkshop and two public round tables with Manuela Bojadžijev, Robin Celikates, Alex Demirović, Patrick Eiden-Offe, Zeynep Gambetti, Dagmar Herzog, Rahel Jaeggi, Henrike Kohpeiß, Daniel Loick, Robyn Ma...

Stephan Gruber reposted

undercoverhist.bsky.social
@undercoverhist.bsky.social

1/n Yesterday, I was writing on the Nobel, microfoundations, mentioning other paths to stabilization taken. I mentioned Perry Mehrling's wonderful book on Kindleberger. I remember when the editor sent me the first chapter and asked "should we publish it?" My answer was: is it even a question...

Stephan Gruber reposted

LSE Blogs
@lseblogs.bsky.social

Is decolonising economics an impossible task? Decolonizing Economics by @devikadutt.bsky.social @ingridhk.bsky.social @kingscollegelondon.bsky.social @cacrisalves.bsky.social @iipp-ucl.bsky.social & @surbhikesar.bsky.social @soasdevelopment.bsky.social reviewed on @lsereviewofbooks.bsky.social

blogs.lse.ac.ukIs decolonising economics an impossible task? - LSE Review of BooksDecolonizing Economics by Dutt, Alves, Kesar and Harvold Kvangraven traces the discipline’s Eurocentric history & ties to racial capitalism, & argues for reform
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Stephan Gruber
@stephangruber.bsky.social

Shaikh represented a view that values Marx's assumption of market competition as what gives capital its systematic dynamic. A contrasting view focuses on power, rentierism and primitive accumulation. In a way, a dispute over the weight of the rate of profit versus the mass of profit.

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Stephan Gruber
@stephangruber.bsky.social

I found his reconstruction of the debates on persistent unemployment, building on Marx, Kalecki and Goodwin, especially useful. Capitalist and workers were modelled as predator and prey! I used it in my HET course @pucp to show that contemporary Marxist modelling exists, not only its history.

Stephan Gruber
@stephangruber.bsky.social

I followed his work less afterwards, but I read his paper with @isabellamweber.bsky.social on China's surpluses. A nice application of his critique of Ricardian trade theory in Capitalism.

Stephan Gruber
@stephangruber.bsky.social

Capitalism synthesised his whole oeuvre: from methodology to trade, inflation, unemployment and industrial organization, with history, mathematical formalization and empirical analysis. Not just a critique of the "mainstream", but an alternative foundation for analysing capitalism.

Stephan Gruber
@stephangruber.bsky.social

The main idea, that he credited to Smith, Ricardo and Marx, was that capitalism is defined by real competition. Not the "unreal" competition of neoclassical models, but the over-determined and unruly struggle lead by profit-seeking capitalist that compete through prices (rather than accepting them).

Stephan Gruber reposted

Historical Materialism Journal
@histmat.bsky.social

Historical Materialism is sorry to learn of the passing of Anwar Shaikh. We repost this interview with Shaikh from 2021 and will endeavour to get something published on our website remembering his person and legacy.

historicalmaterialism.orgAn interview with Anwar Shaikh - Historical MaterialismProfessor Anwar Shaikh is professor of Economics in the Graduate Faculty of Social and Political Science at The New School for Social Research in New York City, where he has taught since 1972. He is a...

Stephan Gruber reposted

Anna Hehenberger
@annahehenberger.bsky.social

Comes fall, come news! 🍂 In September, I started my position as post-doctoral researcher at the University of Vienna as a member of Dorothee Bohle's research group, continuing my work on growth models, decarbonisation and industrial transformation ✨ In case you're in Vienna: hit me up! 💃

Stephan Gruber reposted

taz
@taz.de

Berlin kann die Entschädigung für die Vergesellschaftung von Immobilienbeständen ohne Belastung für den Landeshaushalt stemmen. Das sagt eine Studie der Hans-Böckler-Stiftung 👉 taz.de/Neue-Studie-...

Stephan Gruber reposted

LPE Blog
@lpeblog.bsky.social

Replying to @lpeblog.bsky.social

Also hitting the shelves this week: @athenais.bsky.social's new book, *The House That Family Money Built: How Inequality Governs Debt and Wealth Management.*

ucpress.eduThe House That Family Money Built by Allison Tait - PaperScholarship is a powerful tool for changing how people think, plan, and govern. By giving voice to bright minds and bold ideas, we seek to foster understanding and drive progressive change.

Stephan Gruber reposted

Karthik Sankaran
@rajakorman.bsky.social

Your periodic reminder story that the US is intermittently (and depending on who’s in the WH, variably) complimentary about South America’s politics, but China is permanently complementary with South America’s economics. www.nytimes.com/2026/09/07/w...

nytimes.comIn Peru, the Trump Administration Sees the Limits of Its Anti-China PushAs Secretary of State Marco Rubio travels this week to Peru, its growing economic ties to China have raised tensions with the U.S., but show no signs of reversing course.

Stephan Gruber reposted

herman mark schwartz
@thunen.bsky.social

good 🧵⬇️ (& PW article). long since time for dependency theory 2.0 now that the neoliberal & methodologically nationalist "every country can be south korea with proper institutions" arguments have proven wrong. In aggregate, little change in EMDE GDPpc relative to US GDPpc over the long run. 1/2

Stephan Gruber@stephangruber.bsky.social

I wrote this for @phenomenalworld.bsky.social on the politics of Peru's growth model in the wake of Fujimori's election. The "Peruvian Model" is praised for resilient macro stability amid political turmoil — but I focus on its downsides: how it blocks structural change and hollows out democracy.

Stephan Gruber
@stephangruber.bsky.social

I wrote this for @phenomenalworld.bsky.social on the politics of Peru's growth model in the wake of Fujimori's election. The "Peruvian Model" is praised for resilient macro stability amid political turmoil — but I focus on its downsides: how it blocks structural change and hollows out democracy.

Phenomenal World@phenomenalworld.bsky.social

“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” NEW: @stephangruber.bsky.social on Fujimori’s position in Peru’s political economy x.com/phenomenalwo...

x.comPhenomenal World (@phenomenalworld) on X“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” @StephanGr...
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Stephan Gruber
@stephangruber.bsky.social

I wrote this for @phenomenalworld.bsky.social on the politics of Peru's growth model in the wake of Fujimori's election. The "Peruvian Model" is praised for resilient macro stability amid political turmoil — but I focus on its downsides: how it blocks structural change and hollows out democracy.

Phenomenal World@phenomenalworld.bsky.social

“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” NEW: @stephangruber.bsky.social on Fujimori’s position in Peru’s political economy x.com/phenomenalwo...

x.comPhenomenal World (@phenomenalworld) on X“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” @StephanGr...
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Stephan Gruber
@stephangruber.bsky.social

But this reserves-led stability mechanism has real opportunity costs: capital gets recycled abroad instead of feeding domestic financial circuits. Peru is in a zugzwang — more reserves are needed to keep FDI flowing (and securing its exit), but that difficults bold developmental investment.

Stephan Gruber
@stephangruber.bsky.social

Peripheral economies face wicked macro-financial dilemmas — there's no easy blueprint. What Peru needs is to confront these postponed dilemmas democratically and creatively, instead of doubling down in recipe of authoritarianism and extractive de-regulation, or hiding behind myths of technocracy.

Stephan Gruber
@stephangruber.bsky.social

I wrote this for @phenomenalworld.bsky.social on the politics of Peru's growth model in the wake of Fujimori's election. The "Peruvian Model" is praised for resilient macro stability amid political turmoil — but I focus on its downsides: how it blocks structural change and hollows out democracy.

Phenomenal World@phenomenalworld.bsky.social

“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” NEW: @stephangruber.bsky.social on Fujimori’s position in Peru’s political economy x.com/phenomenalwo...

x.comPhenomenal World (@phenomenalworld) on X“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” @StephanGr...
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Stephan Gruber
@stephangruber.bsky.social

Peru's strong trade surplus is usually outweighed — barring very favorable terms of trade — by the primary income deficit: mostly profits and debt repatriated by foreign companies, many in extractive industries.

Stephan Gruber
@stephangruber.bsky.social

Peru's balance-of-payments stability hinges on reserve accumulation that doubles the Latin American average, "insuring" against capital flight — alongside an austere state and low-wage economy that limit budgetary and import pressures.

Stephan Gruber
@stephangruber.bsky.social

I wrote this for @phenomenalworld.bsky.social on the politics of Peru's growth model in the wake of Fujimori's election. The "Peruvian Model" is praised for resilient macro stability amid political turmoil — but I focus on its downsides: how it blocks structural change and hollows out democracy.

Phenomenal World@phenomenalworld.bsky.social

“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” NEW: @stephangruber.bsky.social on Fujimori’s position in Peru’s political economy x.com/phenomenalwo...

x.comPhenomenal World (@phenomenalworld) on X“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” @StephanGr...
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Stephan Gruber
@stephangruber.bsky.social

The piece dissects how Peru's growth model — and the politics and macro-financial architecture needed to sustain it — systematically blocks productive investment in key infrastructure, physical and social, entrenching low-quality informal jobs, also weaken, capture, and hollow out democracy itself.

Stephan Gruber
@stephangruber.bsky.social

Peru's model has boosted exports and lured foreign investment through favorable laws and macro-financial conditions — but that investment is concentrated in raw commodity mining, with weak linkages to the rest of the economy and little reinvestment.

Stephan Gruber
@stephangruber.bsky.social

I wrote this for @phenomenalworld.bsky.social on the politics of Peru's growth model in the wake of Fujimori's election. The "Peruvian Model" is praised for resilient macro stability amid political turmoil — but I focus on its downsides: how it blocks structural change and hollows out democracy.

Phenomenal World@phenomenalworld.bsky.social

“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” NEW: @stephangruber.bsky.social on Fujimori’s position in Peru’s political economy x.com/phenomenalwo...

x.comPhenomenal World (@phenomenalworld) on X“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” @StephanGr...
View full thread
Stephan Gruber
@stephangruber.bsky.social

Less discussed: the macroeconomic roots of that political decline, and the other dysfunctions blurred by fixation on political spectacle and the exchange/inflation rate — high informality, low productivity, scarce public goods, economic vulnerability.

Stephan Gruber
@stephangruber.bsky.social

The pandemic made this gruesomely visible: Peru led the world in excess deaths, and poverty rebounded by 50%. Despite the shock, little has changed — recent years, even with favorable economic conditions, brought back recession, lack-luster growth, stubborn poverty.

Stephan Gruber
@stephangruber.bsky.social

I wrote this for @phenomenalworld.bsky.social on the politics of Peru's growth model in the wake of Fujimori's election. The "Peruvian Model" is praised for resilient macro stability amid political turmoil — but I focus on its downsides: how it blocks structural change and hollows out democracy.

Phenomenal World@phenomenalworld.bsky.social

“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” NEW: @stephangruber.bsky.social on Fujimori’s position in Peru’s political economy x.com/phenomenalwo...

x.comPhenomenal World (@phenomenalworld) on X“The contrast between political instability and macroeconomic stability is known as the Peruvian ‘paradox.’ But Peru’s democratic decline is intimately related to its economic status quo.” @StephanGr...
Stephan Gruber
@stephangruber.bsky.social

It's now common to frame Peru through a paradox: political instability vs. macroeconomic stability. The former blamed on a dysfunctional system and amateur politicians; the latter credited to the central bank's technocratic skill.

Stephan Gruber reposted

Philipp Hölzing
@philipphoelzing.bsky.social

Herzlichen Glückwunsch zum 60. Geburtstag heute, Rahel Jaeggi! Pünktlich zum Fest lotet dieser Band das Spannungsfeld von Materialismus und Emanzipation neu aus: zwischen Freiheit und Notwendigkeit, zwischen Geist und Materie, zwischen Bewahrung und Revolution. Out now!

Stephan Gruber reposted

Grantham Research Institute at LSE
@granthamlse.bsky.social

We regret that our event on Extreme Heat: Improving governance and strengthening action around the world has been cancelled due to the red extreme heat warning issued by the UK Met Office. Our apologies to everyone who was planning to attend the event.

Stephan Gruber reposted

Benjamin Braun
@benbraun.social

Replying to @benbraun.social

"What if Odysseus had himself tied to the mast not for 30 min but for 20, 30 years? First, muscles are going to atrophy. Second, he's going to lose control of the ship." – Leah Downey "The monetary system may be both democratically legitimate and corrosive of democracy over time." #financedemocracy

Stephan Gruber reposted

Sandra W Rodríguez Castañeda
@lasandunga.bsky.social

Next Tuesday 4:30pm (26 May), Lina-María Murillo (UT Austin) discusses her book Fighting for Control: Power, Reproductive Care, and Race in the U.S.-Mexico Borderlands –uncovering how Mexican-origin women fought to reclaim autonomy across the border. Hybrid event at UCL. Register: sl1nk.com/8l0g54c