Articles
Articles and analyses from the INET community on the key economic questions of our time.
The Scientific Limits of Understanding Complex Social Phenomena
Since Aristotle the question about the potential relationship between economic inequality and democratic changes has been studied and debated – but scientifically our ability as researchers to assess and understand how such complex social phenomena may be related is much more limited than recognised.
RMB in SDR, Now What?
Externalities and Public Goods: Theory OR Society?
How much does the standard theory of externalities and public goods really say?
Matching the Moment, But Missing the Point?
This essay critically evaluates the benefits and costs of the dominant methodology in macroeconomics, the DSGE approach. Although the approach has led to great progress in some areas, it has also created biases and blind spots in the profession that hold back our understanding and our ability to govern the macroeconomy. There is great scope for progress in macroeconomics by judiciously pushing the boundaries of some of the methodological restrictions imposed by the DSGE approach.
The Institute and Income Distribution at GES 2015
The Institute recently sponsored several panels at the Kiel Global Economic Symposium. In particular, the panel on Income Distribution and Mobility struck us as likely to be of especially wide interest. We are grateful for the participation of all the scholars on them and are pleased to present summaries of their presentations here.
The Efficiency of Markets
The Fairness of Markets
Mathematics, Models and Reality in Microeconomics
Have economists fallen in love with an idealized vision of an economy in which rational individuals interact in perfect markets? To what extent is standard microeconomics responsible for this state of affairs?
Jim Chanos on What Lies Ahead for Greece
As Greece heads to the polls, a look back at the crisis and what the future will bring.
Is it Just a Greek Problem?
Greece, Goldman Sachs, and the Dark Side of International Finance
Dubious transactions and flimsy accounting standards need scrutiny.
The Greek Revolt Against Bad Economics Threatens European Elites
A look behind the scenes of the Greek referendum and what could happen next.