The Institute's blog

What is Economic Success?

By Jeff Althouse, Frederick Heussner, and Nils Rochowicz

“You are now leaving the world as you know it.” Read more

IEA 2014 World Congress Calls for Submissions

The International Economic Assocation has sent out a call for submissions for its 17th World Congress. The event will take take place on June 6-10, 2014, and is supported by the Centre for International Governance Innovation (CIGI) and the Institute for New Economic Thinking. The text of the call for submissions is quoted below. You can also download it as a PDF at the bottom of the page.  Read more

Pay-For-Success Social Impact Finance: Theory and Practice

ReadyNation and the Institute for New Economic Thinking's Human Capital and Economic Opportunity (HCEO) initiative invite you to a conference call on October 7 on pay-for-success (PFS) social impact finance theory and econometrics. Read more

The Jobs Crisis - Sign Up Now For Conference in Berlin, October 24-26

The global financial and economic crisis has given rise to a renewed interest in the theoretical foundations of the economics discipline. Old certainties are being questioned, new avenues explored, and new institutions – not least of which the Institute for New Economic Thinking – founded. Read more

HCEO’s Angela Duckworth and Susan Murphy Awarded MacArthur “Genius” Grants

The MacArthur Foundation yesterday announced that Angela Duckworth and Susan Murphy, both members of the Institute for New Economic Thinking’s Human Capital and Economic Opportunity (HCEO) initiative, were each awarded one of 24 MacArthur “genius” grants handed out for 2013. Duckworth received the award for her work as a psychologist on how intellectual strengths and personality traits influence educational achievement. Read more

Crash Week Wrap-Up

Crash Week at the Institute for New Economic Thinking has come to a close. Thank you to all of our authors who wrote such great pieces and to our community who participated in the vibrant discussion on social media.

Below is a list of all our Crash Week features in case you missed one! Read more

A Model’s Crisis

By Institute economists Elira Karaja and Elham Saeidinezhad

Friedrich von Hayek described the economist’s task as demonstrating how little we really know about what we imagine we can design.

The fifth anniversary of the start of the most severe financial crisis since the Great Depression has us reflecting on how little we were able to predict from macroeconomic models – the very models we use to capture business cycle dynamics. While being careful not to completely overturn the mainstream body of economics, the very fact that they could not predict the most important economic phenomenon in nearly a century requires us to question the way these models perform. Read more

Adair Turner on Credit, Money, and Leverage

Check out today's Financial Times, where Gillian Tett picked up on Institute Senior Fellow Adair Turner's recent speech to the Stockholm School of Economics: Read more

Did Capitalism Fail? Looking Back Five Years After Lehman

Editor's Note: Welcome to Crash Week! This week marks five years since the bankruptcy of Lehman Brothers and the financial crisis that followed. A lot has happened since then, but how much has changed? All week long we will be exploring this question from a variety of economic angles. Below is a piece from Roman Frydman, Chair of the Institute's Program on Imperfect Knowledge Economics (IKE), and Michael Goldberg, who is a senior research associate of the IKE program. Stay tuned for more contributions from our grantees, community members, leaders, and other prominent economic thinkers! Read more