Archive

If the public is to be called upon for the second time in twelve years to bail out businesses, it should get something back for its money. Bailed out firms should be compelled to issue convertible bonds to the government.

Rob Johnson discusses whether the recession will become a depression

The younger generation, already saddled with student debt and uncertain jobs, will pay a high price as the crisis unfolds.

Stuck at home and already bored of Netflix? Then check out our #LearnEconAtHome series of video explainers you can watch from anywhere.

If the European Central Bank does not jump to the aid of peripheral countries weakened by the pandemic, the Eurozone could collapse.

Dr. Chen Long, Director of the Luohan Academy, explains why the digital revolution is so different from the industrial revolution

Establishing legal responsibility in the fissured workplace

This article proposes a new “Concentric Circle framework” which would improve workers’ access to civil, labor, and employment rights.

Economist and feminist Victoria Bateman reveals some naked truths about the failings of economics.

Trevon Logan discusses the impact of structural racism in health and economics

New research points to critical role of public funding in drug discoveries and development for the last decade

A report from the Commission on Global Economic Transformation’s meeting in West Africa

In light of the growing concerns over the coronavirus, we have decided to postpone the INET Plenary to October 13-15, 2020 (originally slated for April 13-15, 2020)

What will empower a worker to be able to make greater demands on a profitable economy or employer? The answer may be summed up in one word: leverage.

Some Personal Reflections on a Half Century of Friendship and Appreciation

In this series Polanyi reflects on an extraordinary life, and the extraordinary legacy of her family.

Freeing ourselves from reliance on fossil fuels is not only good for the planet and future generations. It also saves lives here and now, not just in the far future.

Is America facing a retirement crisis?

Lower Income Towns in New Hampshire Voted Heavily for Sanders; Richer Towns Did the Opposite.

Jonathan Haidt deploys insights from moral psychology to help us see ourselves and each other more clearly

How models treat innovation may be just as important as their assumptions about climate damages

We conclude that representing dynamic realism in such models is as important as – and far more empirically tractable than – continued debate about the monetization of climate damages and ‘social cost of carbon’.

The central bank today is not just the government’s bank, but also a bankers’ bank, a truly hybrid institution

The central bank today is not just the government’s bank, but also a bankers’ bank, a truly hybrid institution

How Penrosian Learning Confronts the Neoclassical Fallacy

To get beyond the neoclassical fallacy, economists have to stop relying on constrained-optimization methodology

Without new economic thinking, macro policy will retain its deflationary biases and secular stagnation remains the ‘normal’.

This paper argues that it is a mistake to dismiss secular demand stagnation as main cause of declining potential growth in the OECD.

An event for INET’s Commission on Global Economic Transformation

Explore economic growth and development through technological innovation with the renowned investor and scholar

Inequality, in many ways, may be the biggest question of our times. And yet it is a topic that is still underexplored in conventional economics curricula.

Reconstituting capitalism and revitalizing the liberal international order will require revisiting first principles of Western political economy, rebalancing the emphasis it places on broad living standards as opposed to national income. The 2020 US presidential campaign has begun to do just that.

A Seminar of the Institute for New Economic Thinking, by Maria Cristina Marcuzo

Prof. Oliver Hart will deliver the inaugural talk on Corporate Purpose

The European Commission, the European Central Bank, and the IMF are the continent’s austerity police

Containing Slaves, Freedmen, Jim Crow laws and the Great Migration

This paper records the path by which African Americans were transformed from enslaved persons in the American economy to partial participants in the progress of the economy.

The AEA and the Crisis of Expertise

Prof. Oliver Hart and Justice A. K. Jayasankaran Nambiar in conversation

Anwar Shaikh talks about the shortcomings of neoclassical economics and alternative frameworks

On the Modern Economic Theory of Incentives, Markets, and Socialism

Prof. Oliver Hart delivers the opening lecture of INET and ITT Bombay’s Samvaad lecture.

In an economic context that remains uncertain, the biggest loser of the UK elections may well be our health and that of the environment.

William Greider, a pioneering economic journalist, passed away last month. We at INET are saddened by his loss, and in tribute to his legacy are sharing his essay from The Nation, “What Would Happen if Women Were In Charge of the Global Economy?”

The Irresistible Force Meets the Immovable Object?

A critique of Mankiw’s Macroeconomics

The INET Taskforce in Macroeconomic Efficiency and Stability, chaired by Professor Joseph Stiglitz, focuses on the inefficiencies and instabilities that arise from the interaction of agents and institutions operating in networks and from pervasive macro-economic externalities, as well as on the macroeconomic inconsistencies that may result from those interactions.

One thing is clear – the ‘get Brexit done’ slogan resonated in a country which had been living on a series of knife edges as one ‘crunch’ time after another came and went.

Brexit uncertainty has already taken an economic toll

Using tools from computational linguistics, we construct new measures of the impact of Brexit on listed firms in the United States and around the world

Many of the challenges facing the new EU Presidency will need to be addressed not only at the European level but within a reinvigorated multilateral framework.

In her new book, Don’t Be Evil, Rana Foroohar explores how to confront companies like Google and their under-regulated stampede over all of us.

Stock buybacks are giveaways for greedy investors at the expense of everyone else.

Pharmaceutical drugs are often a matter of life or death. It should be a prime objective of government policy to rid the industry of financialization.

Columbia University’s Richard Robb talks about his new book on human behavior

Repeat after me: How much pipe should Fed plumbers lay if Fed plumbers like to lay pipe?

The U.S. economy is increasingly becoming a dual economy, where high productivity sectors—such as manufacturing—and high pay sectors—such as finance and professional services—co-exist with low pay and low productivity sectors that employ most workers.

This paper provides novel insights on the changing functional distribution of income in the post–war US economy.

INET experts discuss how financialization has driven up costs of healthcare—and how we can stop it.

Political theorist Wendy Brown explores new threats to democracy and society

Increased financialization is driving healthcare costs and must be addressed in our nation’s public policy.

The Financial Times correspondent on the libertarian streak in Silicon Valley

To make start-ups work for everyone, we need to put power back in the hands of workers.

National States and Conflicting Economic Priorities in the Making of the European Monetary System

This paper analyzes the early stages of the formation of the Common Market.

This essay deals with the contradictory dynamics that engulfed Europe from 1959 to 1979, the year of the launching of the European Monetary System.

This essay deals with the EMS experience and its failure, with the Maastricht Treaty, and with the interregnum leading to the formation of the EMU in 1999.

Yueran Ma discusses her work with INET’s Private Debt Initiative

Trying to predict the financial future is a fool’s errand, even for a genius

Policy hype but vintage fiscal economics from Godley, Lerner, and Keynes

Policy hype but vintage fiscal economics from Godley, Lerner, and Keynes

Economists make what we do seem complicated, says Ha-Joon Chang. It’s not.

INET papers and articles related to our co-sponsored event at the University of Utah featuring conversations between Utah judges, law professors, attorneys & economists. Watch the sessions

INET grantee Katharina Pistor is featured in Bloomberg

The University of Chicago’s Raghuram Rajan explains how inequalities in the education system lock in a hereditary hierarchy of success

Big Tech companies are swallowing up nascent competitors. Why aren’t regulators paying attention?

Author Jeremy Lent argues that western conceptual frameworks with roots in the Stone Age push us towards disaster. Time to let them go?

How antitrust law is ill-equipped to address tech mergers

GDP doesn’t tell the whole story—Robert McMaster explains the Economic Democracy Index

New research shows how citation metrics create perverse incentives for corruption in economics

Wade Hands argues that empiricism without theory is insufficient

Summers and Stansbury mark a dramatic shift from New Keynesian orthodoxy, but only make it halfway to understanding the demand-driven nature of stagnant growth

A new method developed by INET grantees to estimate country-level citation clubs and self-citations is making waves, with implications far beyond the paper’s initial focus.

Mott walks us through answers many careful readers of Kalecki, Keynes, Steindl, and Minsky knew all along.

Economics has long been the domain of the ivory tower, where specialized language and opaque theorems make it inaccessible to most people. That’s a problem.

What is economics for? What is it about? How should it be done? How can it be of use to us? How is it connected to morals and politics?

An update from the meeting of the Commission on Global Economic Transformation (CGET) in Cape Town

Cambridge-INET is proud to announce a major conference on Keynes’s 1919 book.

Many indicators say the US is close to full employment: Hours of work tell a different story.

How Investor-owned Physician Practices Are Driving up Healthcare Costs

An animated look at economic history with Robert Skidelsky

Lance Taylor, Servaas Storm, Mario Seccareccia and Marc Lavoie comment on Lawrence Summers and Anna Stansbury’s article titled “Whither Central Banking?”

A Comment on Summers and Stansbury

Why Pushing on a String Has Never Worked

Summers and Stansbury Get It Half Right

A meeting hosted by INET’s Commission on Global Economic Transformation (CGET) and Oxfam Strategic Dialogue at the WEF Africa meeting

An except from Galbraith’s review of Paul Davidson’s Who’s Afraid of John Maynard Keynes? Challenging Economic Governance in an Age of Growing Inequality

The New York Times’ Binyamin Appelbaum explains the role Democratic presidents, from Kennedy to Obama, in moving economic policy to the right

An update from INET’s Young Scholars Initiative

Author Supritha Rajan argues that self-interested competition may be the official line, but it’s far from the whole story