The Institute's blog

Institute Grant Recipients Honored For Their Work

The Institute for New Economic Thinking is proud to congratulate three of its researchers – Mariana Mazzucato, Duncan Foley, and Lance Taylor – for their recent honors. Read more

FT Features Institute’s CORE Economics Reform Project

The Financial Times turned a spotlight on the curriculum reform movement in economics on Tuesday, with a particular emphasis on the efforts of the Institute for New Economic Thinking.

The story focuses on the CORE project headed by Wendy Carlin at University College London. It also notes the high profile members of the economics community who support the push for a new economics curriculum, including Institute Advisory Board members Joseph Stiglitz and Andy Haldane. Read more

2014 Grant Round Announced

The Institute for New Economic Thinking aims to foster open discourse and to advance new thinking on economic issues and theory. The Institute’s notion of new economic thinking is deliberately open and non-dogmatic. Our hope is to support research that transforms our understanding of major economic problems and improves analysis of policy. Read more

Judy Tsui Joins Institute as Special Advisor in China

The Institute for New Economic Thinking is proud to announce that Dr. Judy Tsui is joining the organization as a Senior Advisor in China.

The Institute, which has held conferences in Hong Kong and Tsinghua, China, is in the process of building a strong presence in Asia. Dr. Tsui will play a key role developing these programs and spreading the Institute’s message about the need for new ideas to replace outmoded ways of thinking about the economy. Read more

Pasinetti on Institutional Forces and the Discipline of Economics

Ever since 2008, increasing numbers of economists, students, and even market professionals have protested the way economics is currently taught and practiced.

By now the revolt is close to a worldwide phenomenon. The discussion thus far has centered mostly on textbooks, pedagogic procedures, and what might be termed the broad “ecology” of the profession of economics, which frequently seems too close to the markets it purports to study for critical perspectives to emerge. Read more

UK Business Secretary Vince Cable to Open Major Conference

Vince Cable, Andy Haldane and Adair Turner are among the keynote speakers at a major international conference challenging conventional thinking about the role of the state in driving the innovation needed for sustainable, inclusive growth.

ECB’s Coeure Supports Student Curriculum Reform Movement

The global student movement to transform the economics curriculum received some unexpected high-level support this week from Benoit Coeure, a member of the Executive Board of the Europen Central Bank.

In remarks Tuesday at a panel discussion held by the ECB’s Macro-Prudential Network, Coeure said, “The typical economics curriculum tends to emphasize the frictionless benchmark more than the realistic variants. Shifting the academic focus to a world with frictions would have a welcome impact on teaching, allowing central banks to hire from a pool of young economists better equipped with methods and tools to address policy challenges.” Read more

Inequality as a cause of the financial crisis and current account imbalances

Thomas Piketty’s Capital in the 21st Century has spurred an intense debate over the macroeconomic causes of income and wealth inequality. Meanwhile, a growing amount of research suggests that inequality itself is an important cause of macroeconomic instability.

In the short interview with Deutsche Welle, Institute grantee Till van Treeck explains how inequality can contribute to macroeconomic instability.

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