Dr. C.W.M. (Ro) Naastepad


Welcome to my website. An economist with a doctorate in economic modelling (from Erasmus University Rotterdam), I (nevertheless) think economics is a practical-ethical science. In contrast to the natural sciences − where it is possible to probe and make use of phenomena given by nature – economic phenomena are not given by nature but created by human beings. The question is whether we do so consciously.


I focus on three areas that I regard as crucial for economics and our times: narrow and wider conceptions of capital and progress and how they affect the co-evolution of the individual, technology and the economy; conceptions of money and its purpose; and accounting as a mirror of and method for economic life.

I teach economics in various programmes with a focus on money, capital, finance, and technological change, and the use of economic models in policy-making. For courses, see ‘CourseBase’.

  • Naastepad, C.W.M. and Christopher Houghton Budd (2019) Preventing technological unemployment by widening our understanding of capital and progress: Making robots work for us. Ethics & Social Welfare. [forthcoming; DOI: 10.1080/17496535.2018.1512641]
  • Naastepad, C.W.M. and Jesse M. Mulder (2018) Robots and us: Towards an economics of the ‘Good Life’. Review of Social Economy. 76 (3): pp. 302−334 (DOI: 10.1080/00346764.2018.1432884). Awarded the Association for Social Economics (ASE) 2018 Helen Potter Award.
  • (2016) Structural divergence and crisis in the Eurozone: the role of NAIRU economics. Chapter 9 (p. 101−128) in Joseph Stiglitz and Martin Guzman (eds.) Contemporary Issues in Macroeconomics: Lessons from the Crisis and Beyond, London: Palgrave Macmillan (co-author Servaas Storm).
  • (2015) Crisis and recovery in the German economy: the real lessons, Structural Change and Economic Dynamics 32 (1) 11−24 (co-author Servaas Storm).
  • (2015) Europe’s Hunger Games: Income distribution, cost competitiveness and crisis, Cambridge Journal of Economics 39 (3) 959−986 (co-author Servaas Storm).
  • (2015) NAIRU economics and the Eurozone crisis, International Review of Applied Economics 29 (6) 843−877 (co-author Servaas Storm).
  • (2006/7) OECD demand regimes (1960−2000), Journal of Post-Keynesian Economics 29 (2) 211−246 (Winter) (co-author Servaas Storm).
  • (2009) Labour market regulation and productivity growth: Evidence for 20 OECD countries, Industrial Relations 48 (4) 629−654 (co-author Servaas Storm).
  • (2006) Technology, demand and distribution: a cumulative growth model with an application to the Dutch productivity growth slowdown, Cambridge Journal of Economics 30 (3) 403−434.

More Publications

CrESSI  Creating Economic Space for Social Innovation

The main theme of my publications in the CrESSI project (with co-author Christopher Houghton Budd):

“Were capital linked to the capacities of individual human beings (rather than financial assets or real estate) – that is, were capacities recognised as value-creating in their own right − could this become a medium for creating economic space for social innovation, with social innovation understood to include the many projects that people seek to realise today, but for which they lack appropriate types and amounts of capital?” (From the CrESSI Newsletter).

  • (2012) Macroeconomics Beyond the NAIRU, Harvard University Press (co-authored with Servaas Storm). Awarded the 2013 Myrdal Prize of the European Association for Evolutionary Political Economy (EAEPE)
  • (2001) Globalization and Economic Development, Edward Elgar (co-edited with Servaas Storm).
  • (1999) The Budget Deficit and Macroeconomic Performance. A Real-Financial Computable General Equilibrium Model for India, Oxford University Press. (Based on Ph.D. research.)
  • (1996) The State and the Economic Process, Edward Elgar (co-edited with Servaas Storm).
  • ASE Helen Potter Award
    In 2018 economist Ro Naastepad received the ASE Helen Potter Award for her article “Robots and Us: Towards an Economics of the ‘Good Life” that she wrote with philosopher Jesse Mulder. 
  • Myrdal Prize
    In 2013 the Myrdal Prize was awarded to C. W. M. Naastepad and co-author Servaas Storm for their 2012 book, Macroeconomics beyond the NAIRU (Cambridge, MA: Harvard University Press).

Ro Naastepad

Senior lecturer

Values, Technology and Innovation

Economics of Technology and Innovation

Suzanne Kamp

Research interests:
Design for values
Management of responsible innovation
Economics and finance
Economics of technological change and productivity growth; technological unemployment
Economics and accounting

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