The Institute for New Economic Thinking was created to broaden and accelerate the development of new economic thinking that can lead to solutions for the great challenges of the 21st century.
The havoc wrought by our recent global financial crisis has vividly demonstrated the deficiencies in our outdated current economic theories, and shown the need for new economic thinking – right now.
The Institute is supporting this fundamental shift in economic thinking through research funding, community building, and spreading the word about the need for change. We already are a global community of thousands of new economic thinkers, ranging from Nobel Prize winning economists to teachers and students who have emerged out from the shadows of prevailing economic thought, attracted by the promise of a free and open economic discourse.
We are constantly devising ways to support the next generation of economics scholars, by providing money, advice, access to like-minded individuals and new outlets for their ideas, including the widespread use of web video and social media.
The Institute awards individual grants each year to individuals or teams proposing research in new economic thinking. Grants allow the in-depth examination of an issue or development of a concept, and at grant averaging $25,000-$250,000. In many cases The Institute funds projects that would not generally be funded through conventional academic funding channels.
The Institute periodically identifies critical issues requiring in-depth research and will fund a Research Program to undertake the work, typically over several years. Research Programs are usually large teams led by senior economists, often from the The Institute Advisory Board who mentor and marshal the energies and ideas of young scholars in a focused area ripe for new economic thinking.
The Institute stages a series of conferences and regional meetings held around the world that bring people from different fields and schools of thought together to debate on vital issues and questions that urgently require new economic thinking. Conference proceedings captured on video are typically available at The Institute's website shortly after a conference to enable the broadest community possible to re-experience the discussions and understand the issues.
The Institute is establishing partnerships with leading thought centers (universities, think-tanks and other research-oriented institutions) around the world to provide intellectual hubs aligned with the The Institute mission and supporting local communities of innovators. Ultimately, a large network of centers in different countries will provide a global infrastructure for scholars to travel and more easily collaborate with colleagues around the world.
The Institute's website provides a rich environment for learning and collaboration around economics. Through extensive use of multimedia content and social media, we are able to connect up a global community to share ideas, experience events in common and discuss pressing developments relating to economics. The website contains video interviews with leading figures shaping the future of economics and other examples of new economic thinking, plus a range of thought provoking blogs.