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Changing of the Guard? - INET and FGI Press Conference in Hong Kong

Rob Johnson (Executive Director of the Institute for New Economic Thinking), Andrew Sheng (President of the Fung Global Institute), and Yu Yongding (INET Advisory Board member and Director of the Institute of World Economics and Politics at CASS) speak at a press conference on April 3 before INET's "Changing of the Guard?" conference at the Intercontinental Hotel in Hong Kong. Read more

Changing of the Guard?: INET Hong Kong 2013

People from all over the world will be watching from April 4-6 as INET takes to Hong Kong for its annual conference, this year titled "Changing of the Guard?"

The conference, co-sponsored by the Fung Global Institute and the Centre for International Governance Innovation, will focus on the most pressing global questions of our time like economic inequality and financial instability, all set against the backdrop of Asia's rising importance in the world.

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Saving the World from Godzillas: The Bretton Woods Conference

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Bretton Woods, Past and Present: 3. Models in Economics

What is a good model in economics? “The Kids” asked a dozen economists in the halls of the Mount Washington Hotel in Bretton Woods, and we invite you to watch what they said.

Good models are those that pass the test of time, says Philippe Aghion. Brad DeLong presents what has come to be called Friedman’s “F-Twist”: assumptions don’t matter – a good model is one that predicts well. Wrong, says Anatole Kaletsky, economists ought to model the whole range of human behavior, and doing so requires re-examining the very assumptions on which our models rest. And to George Akerlof, a good model applies to the specific question asked; it corresponds to the problem at hand.

About The Kids: Read more

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Bretton Woods, Past and Present: 2. Progress in Economics

When is one theory better than the other? What is progress in economics? "The Kids" asked a dozen economists in the halls of the Mount Washington Hotel in Bretton Woods, and we invite you to watch what they said.

In 2008, the world avoided making the policy mistakes of the Great Depression. That's progress, says George Akerlof. Anatole Kaletsky tells us what progress is not: to introduce, in the name of rigor, ever more unrealistic assumptions in economics, however mathematically convenient these may be. And James Galbraith compares progress to pornography: it's hard to define, but you recognize it if you ever see it. Read more

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