Yvo Desmedt: Much Ado About Cyber Security

Private data is leaked more and more in our society. Wikileaks, Facebook, and identity theft are just three examples. Network defenses are constantly under attack from cyber criminals, organized hacktivists, and even disgruntled ex-employees. Read more

Yes indeed, we can blog it!

Last year I pointed out here (and here) that macroeconomists were making themselves comfortable in the blogosphere to discuss theoretical, methodological, and, why not, historical issues of their field (see also a nice post by our fellow kid, Beatrice). Read more

David Wu: China's Regulation Problem

David Wu, a chartered accountant by training, is also a member of PwC China’s Management Board, and also holds the following leadership roles: China Government and Regulatory Affairs Leader, North China Markets Leader and Beijing Senior Partner. In most western democracies, this would be a standard regulatory position. In a country like China, it's a position considerably more challenging as figures like Wu have to navigate between the tensions inherent in a one-party state which is struggling to aspire toward a more predictable rule of law. Read more

Bernard Maris (1946-2015), Charlie Hebdo and Incommensurability

As you may remember, I had decided to cease contributing to this blog a few months ago.  Nevertheless, I thought I could use my completely illegitimate administrator rights to post one last piece dealing with the recent events in France. To be clear, what I am going to say is not very deep. The events are too recent and painful. They left me speechless for a couple of days and there's nothing really bright that can be said on such a dramatic occasion. Read more

Who's to Blame for the Crisis: Addressing Culpability of Banks

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BFM: The Business Radio Station

Lord Adair Turner, Former Chairman of the United Kingdom's Financial Services Authority & Senior Fellow at the Institute for New Economic Thinking Read more

Alan Taylor: Surprising New Findings Point to “Perfect Storm” Brewing in Your Financial Future

Featured: Huffington Post | Salon | AlterNet | Truth-Out | Naked Capitalism

Alan Taylor, a professor and Director of the Center for the Evolution of the Global Economy at the University of California, Davis, has conducted, along with Òscar Jordà and Moritz Schularick, ground-breaking research on the history and role of credit, partly funded by the Institute for New Economic Thinking. He finds that today’s advanced economies depend on private sector credit more than anything we have ever seen before. His work and that of his colleagues call into question the assumption that was commonplace before 2008, that private credit flows are primarily forces for stability and predictability in economies.

If current trends continue, Taylor warns, our economic future could be very different from our recent past, when financial crises were relatively rare. Crises could become more commonplace, which will impact every stage of our financial lives, from cradle to retirement. Do we just fasten our seatbelts for a bumpy ride, or is there a way to smooth the path ahead? Taylor discusses his findings and thoughts about how to safeguard the financial system in the interview that follows. Read more

Servaas Storm: Welcome to the European Hunger Games, Brought to You by Mainstream Economics

Featured: Huffington Post | Truth-Out | Naked Capitalism | AlterNet

As a virulent strain of austerity capitalism takes over Europe, leaving shattered lives in its shadow, researchers Servaas Storm and C.W.M. Naastepad, Senior Lecturers in Economics at Delft University of Technology in The Netherlands, consider how things got so bad, what role economists and misguided policy-makers have played, and which models and ideas are needed to change course. In the following interview, they discuss how most are getting the story about Europe wrong. They explain how their research shows that when countries try to compete with each other by lowering wages and slashing the social safety net, the costs are high both economically and socially, and why co-operative and regulated capitalism is a far better path. (For more, see “Europe’s Hunger Games: Income Distribution, Cost Competitiveness and Crisis,” published in the Cambridge Journal of Economics, and “Crisis and Recovery in the German Economy: The Real Lessons,” part of the Institute for New Economic Thinking’s project on the “Political Economy of Distribution”).  Read more

Bill Mitchell: Demystifying Modern Monetary Theory

In a challenge to conventional views on modern monetary and fiscal policy, Professor Bill Mitchell of Newcastle University in Australia has emerged as one of the foremost exponents of Modern Monetary Theory (MMT), a heterodox challenge to the prevailing paradigms which dominate how mainstream economics is taught and economic policy implemented.  In his works, and the interview below, Mitchell presents a coherent analysis of how money is created, how it functions in global exchange rate regimes, and how the mystification of the nature of money has constrained governments, and prevented states from acting in the public interest.
 
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The Future of Financial Reform: Conceiving the Financial System of the 21st Century

Mark Carney, Governor of the Bank of England (BoE) and Chairman of the Financial Stability Board (FSB), may well be the man of the hour. When he gives a speech entitled “The Future of Financial Reform” as he recently did at the Monetary Authority in Singapore, people listen. Read more