Complex Networks in Finance: Nature Physics Journal on Financial Complexity

The financial crisis has made us aware that financial markets are very complex networks that, in many cases, we do not really understand and that can easily go out of control. Read more

Wirtschaftswoche and Handelsblatt’s Greek Myth: An INET Subvention That Never Was

Valentine’s Day, 2013, brought the Institute for New Economic Thinking a rude shock that belied the day’s reputation for good cheer and romance. A German business magazine, Wirtschaftswoche, published an article signed by no less than three correspondents claiming that INET had financed the appearance at a panel of at Columbia University of the leader of the principal Greek opposition party, Mr. Alexis Tsipras, along with two of his advisers (“Ihren Auftritt mitfinanziert hat Soros’ Thinktank INET”). Read more

Planning Against Planning: Hayek, the Mont Pelerin Society, and the Origins of Neoliberalism

Free-market thinking had reached a low point in the waning days of World War II, but some of the world’s best advocates for free markets and liberty helped rebuild interest in and knowledge of the value of markets through a group called the Mont Pelerin Society. Read more

Jeff Sachs: How Political Strategy Has Crowded Out Needed Public Investment

Jeff Sachs takes on the coming sequester in today's Financial Times. He charges that getting elected required President Obama to make the "Faustian bargain" of preserving most of the Bush tax cuts - but this strategy has pushed Obama to make continual cuts in discretionary spending to compensate. This outcome is the opposite of the president's rhetoric and goals, Sachs says.  Read more

Between Free and Forced Labor: An innovative new paper by INET grantee Suresh Naidu

Economists differentiate free and forced labor as if there were no room in between. Yet history shows many examples of "intermediate" labor market institutions that fall outside this simple dichotomy. These historical labor markets have rarely looked like the textbook free markets.  Read more

History of Economics and Images: static and dynamic

  There has been an important movement towards making available on the web a host of open courses. One can easily access courses from major American universities such as Harvard, MIT, Yale and Princeton, among others (see the Open Courseware Consortium for similar initiatives worldwide). Read more

IKE Co-founder Michael Goldberg Awarded Todd H. Crockett Professor of Economics

Michael Goldberg was awarded last week the Todd H. Crockett Professor of Economics at the Peter T. Paul College of Business and Economics at the University of New Hampshire. Read more

Why Raising the Minimum Wage Makes Economic Sense

Originally appeared on Alternet Read more

Raghuram Rajan Wins Deutsche Bank Prize

Raghuram G. Rajan has been awarded the 5th Deutsche Bank Prize in Financial Economics 2013 by The Center for Financial Studies (CFS) for his highly influential contributions in a broad range of areas in financial economics.

The academic prize is sponsored by the Deutsche Bank Donation Fund and carries an endowment of €50,000. The CFS awards the prize biannually in partnership with Goethe University Frankfurt. The prize will be presented to Raghuram G. Rajan as part of an academic symposium in Frankfurt on 26 September 2013. Read more