Europe’s Real Deficit Is Trust

While Europe faces the specter of overwhelming debt, another deficit lies at the heart of the inability to find a solution: a deficit of trust.

Europe’s citizens “have lost confidence and trust in their politicians and started to make their own contingency plans,” writes Andre Wilkens, the director of the Mercator Centre in Berlin, Germany, for openDemocracy. Read more

A Quick One (Message to Naomi)

Naomi KleinYesterday, I had my first introductory economics seminar with my new students. At the end of this 4-hour marathon, which included the definition of economics and some preliminary knowledge on methodology, economic history and the history of the discipline, one of my students, who, I had noticed, stared at me quite incredulously during my speech, approached me and asked me in an aside: "Mr. Giraud, have you read the Shock Doctrine?". Read more

Soros To Germany: Lead or Leave

INET co-founder George Soros is calling on Germany to lead Europe out of its economic doldrums or get out of monetary union altogether.

In an essay published in the most recent edition of The New York Review of Books and in a speech delivered in Berlin Monday, Soros pins Europe’s fiscal problems on the Maastricht Treaty's failure to create a common European treasury. In the absence of such an institution, Soros believes that it is incumbent upon the wealthy euro-zone creditor nations, particularly Germany, to accept the financial responsibilities of debtor states. Read more

Keynes's 10 Professors... and a Major

I  thought I was on to an inside reference when re-reading the General Theory when Keynes calls Marx, Edgeworth and others simply by name, but refers to "Professor Pigou" in several instances.  What devilish bit of British humour was I missing out on, had Pigou slighted Keynes in some talk and therefore the emphasis on his position as professor as Keynes disagree with him?   Read more

Holiday announcements... History at the ASSA

Mid August, with the Olympics over, Paralympics and Premiership starting (that's Soccer for the American readership), it is well and truly the quiet period for most of academia.

But now is also the time for conference announcements (for the next season) and I just discovered that the History of Economics Society will have four sessions at the 2013 year's ASSA, featuring fellow bloggers Tiago and Yann.  Read more

Felix Salmon: Curb High-Frequency Trading and End the Stock Market “War Zone”

When Felix Salmon looks at the global equities market he sees a world of free-for-all electronic warfare that likely would be more recognizable to Isaac Asimov than Milton Friedman. Read more

'Economists at Fault for Recent Crises': An Interview with the Bank of England's Andy Haldane

In a recent interview, INET Advisory Board member and Executive Director for Financial Stability at the Bank of England Andy Haldane took aim at the economics profession.

Asked if the economists should shoulder blame for the recent crises, Haldane didn’t pull any punches: Read more

INET Spotlight – Ben Bernanke to Economists: More Philosophy, Please

Ben Bernanke, Federal Reserve chairman and philosopher?

This week Bernanke spoke to the International Association for Research in Income and Wealth, and, as Bloomberg Businessweek notes, he was singing a different tune. Read more

VIDEO: Beyond the Numbers - Michael Najjar's Artwork at INET Berlin

In January 2009, artist Michael Najjar stood on the summit of Mount Aconcagua, at 6,962 meters the highest mountain in the world outside of the Himalayas. Read more