Political Economy

Legal Fiction: An Intellectual History of the COASE Theorem

Project Leader: 

Steven G. Medema of the University of Colorado Denver has received a grant from the Institute for New Economic Thinking to write a book-length intellectual history of the Coase theorem, one of the most important, insightful and controversial ideas to emerge in the post-World War II literature in economics. Read more

Economic Theories and Historical Consequences

Project Members: 

Sophus Reinert and Francesca Viano of Cambridge University were awarded a grant by the Institute for New Economic Thinking to deepen understanding of the history of economics as a discipline by making economic texts of historical importance available to students and scholars, and by translating the important historical works of economics into English. Read more

Competition and Equality in Imperial China

Project Leader: 

Qian Dai of Wuhan University in People’s Republic of China was awarded a grant by the Institute for New Economic Thinking for a research project to uncover economic forces which reshaped the evolution of the imperial examination system in traditional China, using a new dataset from archival sources of ancient Chinese Books. Read more

Economics: Value Neutral or Value Entangled

Project Leader: 

Sanjay Reddy of The New School for Social Research was awarded a grant by the Institute for New Economic Thinking to write a book making a broad case for the resurrection of normative reasoning in economics. Read more

Paul Krugman: Hey Small Spender

As the political cycle spins itself into a new election, a lot of candidates and people in the media are asking some big questions, such as if President Obama has presided over such massive government spending, why are new jobs not being created?

Paul Krugman, in an op-ed in the New York Times, says that this question is based on a myth. “There never was a big expansion of government spending,” Krugman writes, “In fact, that has been the key problem with economic policy in the Obama years.”

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Krugman, Hatzius, and Feldstein: An Astonishing Harmonic Convergence

 In an event that Robert Kuttner recently called “an astonishing harmonic convergence,” Paul Krugman, Goldman Sachs’ Jan Hatzius, and Martin Feldstein, Reagan’s former chief economist, met in Washington to discuss the country’s financial future.

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George Soros in the FT: America Needs Stimulus, Not Virtue

INET’s Founding Sponsor George Soros recently published an op-ed in the Financial Times, in which he touches on a couple of issues that INET is interested in. Read more

INET Executive Director Rob Johnson Talks to the U.K. Press

INET’s executive director Rob Johnson is wrapping up a week in London, where he had a meeting with INET’s governing board. Also during this week, he had an opportunity to speak with some of the U.K.’s top press about INET, United States corporations, and other issues. Here’s a sampling: Read more

The Stagnating Labor Market: A Report from the Roosevelt Institute

The Roosevelt Institute, an organization committed to carrying on the legacy of Franklin and Eleanor Roosevelt, has recently released a report titled “The Stagnating Labor Market,” which exhaustively analyzes recent employment trends in the United States.

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Jeff Sachs: Moving Beyond Washington’s Stale Economic Debate

In a recent column in the Huffington Post, INET advisory board member Jeffrey Sachs made the case that the economic debate in Washington has become “stale” and politicized - and needs to be reframed. Read more