The Institute's blog

Adair Turner: Capital Markets Balkanization Should Not Prevent Regulation

Don’t worry about the balkanisation of global capital markets” – Adair Turner

Fears that bank regulation or capital controls could lead to a “balkanisation” of global capital markets are overstated and should not constrain policy action to address the problems created by volatile short term capital flows and excessive credit creation, says Adair Turner, Senior Fellow at the Institute for New Economic Thinking and former chairman of the United Kingdom Financial Services Authority. Read more

Institute Scholars Awarded EAEPE-Myrdal Prize

Servaas Storm and C.W. M. Naastepad are members of the Institute for New Economic Thinking's Working Group on the Political Economy of Distribution. Their 2012 study of Macroeconomics Beyond the NAIRU (Cambridge, MA: Harvard University Press) has just won the Myrdal Prize of the European Association for Evolutionary Political Economy.

The Institute is pleased to congratulate them on this outstanding achievement.


EAEPE-Myrdal Prize 2013


Roman Frydman: Modeling a World of Imperfect Knowledge

By Institute economist Elham Saeidinezhad

Does it matter if the Rational Expectations Hypothesis is unrealistic?

Not according to New York University Prof. Roman Frydman, head of the Institute for New Economic Thinking’s research group on Imperfect Knowledge Economics (IKE). Read more

LIVE STREAM 12/12: The Fall of the Euro

Our Hansen Moment

By Institute economist Elham Saeidinezhad

The main goal of the macroeconomist is to understand the sources behind business cycles and the behavior of financial markets in the modern economy.

As in any science, economics offers many ways to accomplish its tasks. What sets economics apart, however, is that this year two models that are in sharp contrast with each other in explaining the dynamics of financial assets, and were created by two high-profile economists, were selected to receive the discipline’s highest honor - the Noble Prize in economics. Read more

Apply Now: Free Undergraduate Seminar with Michael Sandel

The Institute for New Economic Thinking is seeking a select group of undergraduate students to participate in the filming of a free, three-day series of discussions on ethics and economics with Harvard Professor and philosopher Michael Sandel, the Institute's newest Senior Fellow. Read more

Mariana Mazzucato's TED Talk: Government — Investor, Risk-taker, Innovator

Why doesn’t the government just get out of the way and let the private sector -- the “real revolutionaries” -- innovate?

An Interview with Adair Turner: “Which Capitalism for the 21st Century?”

Originally published by the Lee Kuan Yew School of Public Policy at the National University of Singapore
By Alvin Lee Read more

Institute for New Economic Thinking Launches Project to Reform Undergraduate Syllabus

In response to widespread discontent among students, employers, and university teachers, a project to create a new core curriculum for economics was launched at a seminar hosted by HM Treasury today. The CORE curriculum project, funded by the Institute for New Economic Thinking, convened the meeting, which was attended by academics, policymakers, business leaders, and students from around the world. Read more

Too Much Debt: Adair Turner on the Dangers of Excessive Sector Leverage

Adair Lord Turner, former Chairman of Great Britain’s Financial Services Authority and current Senior Fellow at the Institute for New Economic Thinking, argued in a keynote address to the Federal Reserve Bank of Chicago on Thursday that central banks must be equipped in future to address the dangers of excessive private sector leverage, using both pre-emptive interest rate policy and macro-prudential policy tools.  Read more