Professor of Political Economy

Chulalongkorn University, Faculty of Political Sciences
London School of Economics and Political Sciences (LSE)
European Institute


I have been appointed as Research Professor by Chulalongkorn University, Bangkok, Thailand from 2023 to 2025.



  • A monetary theory of endogenous economic growth
    This paper presents a model where credit money is the engine of endogenous growth, because the claims for interest on debt generate liabilities that need to be matched by higher assets and income, even in the steady state.

Stefan pushing a rock




I've been teaching some courses to some burmese students. Here is the powerpoint :
The Myanmar economy after the February 2021 Coup



The Political Economy of Liberty and Money
Here are some draft chapters of my forthcoming book. Feedback is appreciated, Citation only with permission :