FT Features Institute’s CORE Economics Reform Project

The Financial Times turned a spotlight on the curriculum reform movement in economics on Tuesday, with a particular emphasis on the efforts of the Institute for New Economic Thinking.

The story focuses on the CORE project headed by Wendy Carlin at University College London. It also notes the high profile members of the economics community who support the push for a new economics curriculum, including Institute Advisory Board members Joseph Stiglitz and Andy Haldane. Read more

2014 Grant Round Announced

The Institute for New Economic Thinking aims to foster open discourse and to advance new thinking on economic issues and theory. The Institute’s notion of new economic thinking is deliberately open and non-dogmatic. Our hope is to support research that transforms our understanding of major economic problems and improves analysis of policy. Read more

Yes Or No, Scottish Independence Will Remain an Issue For U.K.

Today is the day. Today the world will learn the definitive answer as to whether Scotland will remain a part of the United Kingdom or launch the first step toward independence.

The most recent polls seem to indicate a narrow margin of victory for the No side, but it's too close to call, especially given the huge turnout and the size of the youth vote (16 is the voting age minimum for the referendum.) Read more

The Flummery of Capital-Requirement Repairs Since The Crisis

Government safety nets give protected institutions an implicit subsidy and intensify incentives for value-maximizing boards and managers to risk the ruin of their firms. Standard accounting statements do not record the value of this subsidy and forcing subsidized institutions to show more accounting capital will do little to curb their enhanced appetite for tail risk.  Read more

Please Don't Throw Me In The Briar Patch

Author: 

 September 8, 2014

 

PLEASE DON’T THROW ME IN THE BRIAR PATCH: THE FLUMMERY OF CAPITAL-REQUIREMENT REPAIRS UNDERTAKEN IN RESPONSE TO THE

GREAT FINANCIAL CRISIS*

Edward J. Kane

Boston College

  Read more

To Boost Investment, End SEC Rule Encouraging Buybacks

The New York Times is having a "Room For Debate" discussion on its Opinion Page about how corporations should handle profits based on the Harvard Business Review article “Profits Without Prosperity” by William Lazonick of the University of Massachusetts Lowell, who is a grantee of the Institute for New Economic Thinking. Read more

Stephen Kinsella: Austerity Defangs the Celtic Tiger

As we approach the impending independence referendum in Scotland, it is noteworthy that we no longer hear economic comparisons between the so-called “Celtic Lion” and its neighbor to the West, the once “Celtic Tiger” of Ireland.  
 
Ireland was the first of the EMU nations to embrace the austerity mantra, the first of the governments to openly engage in economic policy malpractice by abandoning their responsibilities to advance public purpose. As Stephen Kinsella of the University of Limerick notes in this interview, for all the hope of the “mangy cat” again becoming the “Celtic Tiger,” Ireland remains in pretty sorry condition. 
 

All Together Now?: Inequality and Growth in US Metro Areas

By Chris Benner and Manuel Pastor

With the publication of Thomas Piketty’s Capital in the 21st Century, the American public has become increasingly concerned about the scale and impact of inequality in economic life. Read more

Shadow Banking - The Money View

Author: 

Presentation slides from a meeting with the Young Scholars Initiative on 8/29/2014.

Judy Tsui Joins Institute as Special Advisor in China

The Institute for New Economic Thinking is proud to announce that Dr. Judy Tsui is joining the organization as a Senior Advisor in China.

The Institute, which has held conferences in Hong Kong and Tsinghua, China, is in the process of building a strong presence in Asia. Dr. Tsui will play a key role developing these programs and spreading the Institute’s message about the need for new ideas to replace outmoded ways of thinking about the economy. Read more