Archive
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News
William Greider: In Memoriam
Jan 12, 2020
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?”
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Article
The 2020 Election in Three Graphs
Jan 10, 2020
The Irresistible Force Meets the Immovable Object?
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Article
Modeling the Financial System with a Corn Economy – “misleading and disastrous”
Jan 3, 2020
A critique of Mankiw’s Macroeconomics
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Grant
Years granted: 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020INET Taskforce in Macroeconomic Efficiency and Stability: Networks and Externalities
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.
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Article
Brexit and the UK election: Experts, Uncertainty, and Political Economy
Dec 19, 2019
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.
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Article
The Global Impact of Brexit Uncertainty
Dec 15, 2019
Brexit uncertainty has already taken an economic toll
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Working Paper
Working Paper SeriesThe Global Impact of Brexit Uncertainty
Dec 2019
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
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Article
The Challenges to Portugal’s EU Presidency
Dec 13, 2019
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.
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Article
Evil is Baked into Big Tech’s Business Plan. Now What?
Dec 12, 2019
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.
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Video
Banning Buybacks
Dec 4, 2019
Stock buybacks are giveaways for greedy investors at the expense of everyone else.
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Article
Financialization of the U.S. Pharmaceutical Industry
Dec 2, 2019
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.
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Video
Between Rational and Irrational
Nov 27, 2019
Columbia University’s Richard Robb talks about his new book on human behavior
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Article
Repo Madness: Fed Plumbing Gone Awry
Nov 26, 2019
Repeat after me: How much pipe should Fed plumbers lay if Fed plumbers like to lay pipe?
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Article
The Decline of the US Labor Share Across Sectors
Nov 21, 2019
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.
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Working Paper
Working Paper SeriesThe Decline of the U.S. Labor Share Across Sectors
Nov 2019
This paper provides novel insights on the changing functional distribution of income in the post–war US economy.
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Video
The Hidden Costs of Healthcare
Nov 20, 2019
INET experts discuss how financialization has driven up costs of healthcare—and how we can stop it.
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Article
How Neoliberal Thinkers Spawned Monsters They Never Imagined
Nov 19, 2019
Political theorist Wendy Brown explores new threats to democracy and society
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Webinars and Events
Hidden Costs Of Healthcare
ConferenceNov 15, 2019
Increased financialization is driving healthcare costs and must be addressed in our nation’s public policy.
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Video
Don't Be Evil. Rana Foroohar on Big Tech.
Nov 13, 2019
The Financial Times correspondent on the libertarian streak in Silicon Valley
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Article
WeWork Showed Us How Badly Start-up Bros Suck—but Shareholder Rule Isn’t Better
Nov 7, 2019
To make start-ups work for everyone, we need to put power back in the hands of workers.
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Article
The Stormy Birth of “Europe”
Nov 7, 2019
National States and Conflicting Economic Priorities in the Making of the European Monetary System
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Working Paper
Working Paper SeriesThe Political Economy of Europe Since 1945: A Kaleckian Perspective
Nov 2019
This paper analyzes the early stages of the formation of the Common Market.
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Working Paper
Working Paper SeriesEurope 1957 to 1979: From the Common Market to the European Monetary System
Nov 2019
This essay deals with the contradictory dynamics that engulfed Europe from 1959 to 1979, the year of the launching of the European Monetary System.
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Working Paper
Working Paper SeriesFrom the EMS to the EMU and...to China
Nov 2019
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.
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Video
The Perils of Over-Optimistic Borrowing
Nov 6, 2019
Yueran Ma discusses her work with INET’s Private Debt Initiative
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Article
Why Did Isaac Newton Lose His Shirt in Financial Speculation? Author Alex Pollock Explains.
Nov 4, 2019
Trying to predict the financial future is a fool’s errand, even for a genius
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Article
Not So Modern Monetary Theory
Oct 31, 2019
Policy hype but vintage fiscal economics from Godley, Lerner, and Keynes
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Working Paper
Working Paper SeriesSynthetic MMT: Old Line Keynesianism with an Expansionary Twist
Oct 2019
Policy hype but vintage fiscal economics from Godley, Lerner, and Keynes
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Video
Learn the Language of Power
Oct 30, 2019
Economists make what we do seem complicated, says Ha-Joon Chang. It’s not.
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Collection
A New Future for Antitrust?
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
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News
Katharina Pistor on Facebook's Libra
Oct 24, 2019
INET grantee Katharina Pistor is featured in Bloomberg
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Video
A Hereditary Meritocracy
Oct 23, 2019
The University of Chicago’s Raghuram Rajan explains how inequalities in the education system lock in a hereditary hierarchy of success
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Article
Facebook, Acquisitions, and Potential Competition
Oct 21, 2019
Big Tech companies are swallowing up nascent competitors. Why aren’t regulators paying attention?
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Article
This Take on Humanity’s Future Might Blow Your Mindset
Oct 17, 2019
Author Jeremy Lent argues that western conceptual frameworks with roots in the Stone Age push us towards disaster. Time to let them go?
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Working Paper
Working Paper SeriesBig Tech Acquisitions and the Potential Competition Doctrine: The Case of Facebook
Oct 2019
How antitrust law is ill-equipped to address tech mergers
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Video
Measuring Economic Democracy
Oct 9, 2019
GDP doesn’t tell the whole story—Robert McMaster explains the Economic Democracy Index
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Article
How Performance Evaluation Metrics Corrupt Researchers
Oct 3, 2019
New research shows how citation metrics create perverse incentives for corruption in economics
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Video
In Defense of Economic Theory
Oct 2, 2019
Wade Hands argues that empiricism without theory is insufficient
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Article
Secular Stagnation: The Limits of Conventional Wisdom
Oct 1, 2019
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
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News
Exposing Citation Gaming and its Institutional Causes
Sep 16, 2019
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.
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Article
Kalecki, Minsky, and “Old Keynesianism” Vs. “New Keynesianism” on the Effect of Monetary Policy
Sep 11, 2019
Mott walks us through answers many careful readers of Kalecki, Keynes, Steindl, and Minsky knew all along.
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Video
Economics for People
Sep 11, 2019
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.
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Video
How & How NOT to Do Economics
Sep 11, 2019
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?
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Article
Global Commission Brainstorms on Africa’s Economic Transformation Ahead of WEF Africa
Sep 9, 2019
An update from the meeting of the Commission on Global Economic Transformation (CGET) in Cape Town
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Webinars and Events
The Centenary Conference on the Keynes’s Economic Consequences of the Peace
ConferenceSep 9–10, 2019
Cambridge-INET is proud to announce a major conference on Keynes’s 1919 book.
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Article
Is it Really "Full Employment"? Margins for Expansion in the US Economy in the Middle of 2019
Sep 6, 2019
Many indicators say the US is close to full employment: Hours of work tell a different story.
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Article
Private Equity and Surprise Medical Billing
Sep 4, 2019
How Investor-owned Physician Practices Are Driving up Healthcare Costs
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Video
Is History Important?
Sep 4, 2019
An animated look at economic history with Robert Skidelsky
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Collection
INET Economists Respond to Summers & Stansbury
Lance Taylor, Servaas Storm, Mario Seccareccia and Marc Lavoie comment on Lawrence Summers and Anna Stansbury’s article titled “Whither Central Banking?”
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Article
Central Banks, Secular Stagnation, and Loanable Funds
Sep 3, 2019
A Comment on Summers and Stansbury
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Article
Summers and the Road to Damascus
Sep 3, 2019
Why Pushing on a String Has Never Worked
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Article
Central Bankers, Inflation, and the Next Recession
Sep 3, 2019
Summers and Stansbury Get It Half Right
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Webinars and Events
Africa’s Economic Transformation
DiscussionReducing Inequality, Building Sustainability
Hosted by Commission on Global Economic Transformation
Sep 3, 2019
A meeting hosted by INET’s Commission on Global Economic Transformation (CGET) and Oxfam Strategic Dialogue at the WEF Africa meeting
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Article
Who’s Afraid of John Maynard Keynes?
Aug 30, 2019
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
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Video
How Liberals Normalized Conservative Ideas
Aug 28, 2019
The New York Times’ Binyamin Appelbaum explains the role Democratic presidents, from Kennedy to Obama, in moving economic policy to the right
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Article
YSI Successfully Holds Fifth and Final Regional Convening in Asia
Aug 27, 2019
An update from INET’s Young Scholars Initiative
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Article
The Sacrificial Rites of Capitalism We Don’t Talk About
Aug 26, 2019
Author Supritha Rajan argues that self-interested competition may be the official line, but it’s far from the whole story
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YSI Event
UNCTAD Summer School 2019
The Crisis of Multilateralism - is a Global Green New Deal the Solution?
YSI
ConferenceAug 26–30, 2019
The United Nations Conference on Trade and Development (UNCTAD) and the Young Scholars Initiative (YSI) are pleased to announce the upcoming UNCTAD Summer School 2019.
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Video
How Can We Track Bank Risk?
Aug 21, 2019
Risky lending took down the global economy in 2008. Tracking it now is a vital job for economists, says Juliane Begenau
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Video
Why We Need a Multidisciplinary Economics
Aug 14, 2019
Economics needs to better incorporate other social sciences
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Article
Developing Asia Needs a New Economic Paradigm
Aug 13, 2019
Inadequate demand and climate change require a global green new deal
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Article
Ideology is Dead! Long Live Ideology!
Aug 12, 2019
Economists like to say they’re immune from ideological influence. Our research shows the opposite.
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YSI Event
YSI Asia Convening 2019
YSI
Regional ConveningAug 12–14, 2019
Hundreds of young scholars from all over Asia are coming together in Hanoi to discuss new economic thinking, present their research, and work with over 30 senior scholars. Join us there and become a part of YSI’s global community!
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Article
AI is Forcing Us to Rethink Economics
Aug 9, 2019
INET’s grantees and Commission on Global Economic Transformation are looking at artificial intelligence and society.
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Video
Change in the Economics Profession Can Come From the Outside
Aug 7, 2019
Progressive movements can and should push for pluralism in economics
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Video
Why the Dismal Science Cares About Happiness
Jul 31, 2019
Economics is often thought of as emotion-less, but Daniel Benjamin argues for happiness as a vital indicator
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Article
A Plan for Earth’s Survival that Can Survive U.S. Politics?
Jul 30, 2019
Economist James K. Boyce explains how to fight climate change and rising income inequality in one shot
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Video
Are We Ready to Give Up Autonomy to AI?
Jul 24, 2019
Artificial intelligence promises to make our lives easier. But is the cost losing some of our humanity?
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Article
Keeping the Oil in the Soil
Jul 22, 2019
The central goal of any serious climate policy is to keep fossil fuels in the ground. The central question is how.
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Video
Puerto Rico’s Crisis Began Before Hurricane Maria
Jul 17, 2019
Economist Marie Mora discusses the deep economic crisis that has afflicted Puerto Rico for years
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Article
Antitrust and the Consumer Welfare Standard
Jul 16, 2019
The Chicago School has long used bankrupt assumptions to strangle antitrust policy
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Working Paper
Working Paper SeriesAmerican Gothic: How Chicago Economics Distorts “Consumer Welfare” in Antitrust
Jul 2019
The Chicago School has long used bankrupt assumptions to strangle antitrust policy.
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Article
Firm-Level Political Risk: Measurement and Effects
Jul 11, 2019
Political risk—and what firms do about it
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Working Paper
Working Paper SeriesFirm-Level Political Risk: Measurement and Effects
Jul 2019
We adapt simple tools from computational linguistics to construct a new measure of political risk faced by individual US firms: the share of their quarterly earnings conference calls that they devote to political risks.
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Video
How the Stock Market Drives Wealth Inequality
Jul 10, 2019
When the stock market grows faster than the housing market, the gains of the top 1% outpace those of the middle class
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Article
The Myth of Expansionary Austerity
Jul 8, 2019
It was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.
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Working Paper
Working Paper SeriesExpansionary Austerity and Reverse Causality: A Critique of the Conventional Approach
Jul 2019
It was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.
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Article
Charter Schools Unleashed “Educational Hunger Games” in California. Now It’s Fighting Back.
Jul 2, 2019
Andrea Gabor, author of “After the Education Wars,” discusses how California is pushing back on millionaire-driven charter schools. Will the rest of the America follow?
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Article
After Over Three Decades, Rebel Economist Breaks Through to Washington. Here’s How He Did It.
Jul 1, 2019
The idea that businesses are run to maximize profits for shareholders is just plain wrong, says William Lazonick
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Article
How Media Workers are Organizing in the Dual Economy
Jun 27, 2019
With journalism moving from a stable to a precarious profession, digital media workers have become some of the most organized in the startup world
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Article
State Capacity and Demand for Identity: Evidence from Political Instability in Mali
Jun 26, 2019
Frequent civil conflicts in African countries may erode national identity, thus highlighting a reason why civil conflict is costly for growth and development
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Video
A Brief History of Doom
Jun 26, 2019
Richard Vague and Rob Johnson discuss the role of excessive lending in causing financial crises throughout history
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Working Paper
Working Paper SeriesState Capacity and Demand for Identity: Evidence from Political Instability in Mali
Jun 2019
Frequent civil conflicts in African countries may erode national identity, thus highlighting a reason why civil conflict is costly for growth and development
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YSI Event
INET/YSI Pre-conference @ STOREP 2019
YSI
WorkshopJun 25–27, 2019
The Institute for New Economic Thinking and the Italian Association for the History of Political Economy (STOREP) announce a day and a half of lectures, workshops, and debates held on the 26th and 27th of June, just before the annual STOREP conference, in Siena, Italy.
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Article
Capitalism’s Great Reckoning
Jun 24, 2019
As the maladies of modern capitalism have multiplied, fundamental questions about the future of the world’s dominant economic model have become impossible to ignore. But in the absence of viable alternatives, the question is how to reform a system that is increasingly at odds with democracy.
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Article
Are Economists Blocking Progress on Climate Change?
Jun 24, 2019
By promoting unrealisitc models, economists have become part of problem rather than the solution
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Conference Session
Non-bank lending and the credit cycle: what are the risks?
Jun 21, 2019 |
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Conference Session
Outlook Session: How much debt is too much?
Jun 21, 2019 |
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Conference Session
Expectations and Credit Cycles: What role for over-optimism of borrowers and lenders?
Jun 21, 2019 |
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Conference Session
Incentives and Credit Cycles: What’s driving risk taking in credit booms?
Jun 21, 2019 |
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Conference Session
Private Debt Booms and the Real Economy: Do the benefits outweigh the costs?
Jun 21, 2019 |
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Conference Session
Sectoral Credit and Financial Instability: Does the sectoral allocation matter for financial stability risks?
Jun 21, 2019 |
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Conference Session
How can we measure risk exposure of banks and credit markets?
Jun 21, 2019 |
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Conference Session
Is risk mispriced in credit booms, and if so, why?
Jun 21, 2019 |
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Conference Session
Are better capitalized banking systems safer?
Jun 21, 2019 |
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Article
Place-Based Economic Conditions and the Geography of the Opioid Overdose Crisis
Jun 20, 2019
There is not one opioid crisis in America—there are many. And supply-focused measures won’t stop them.
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News
William Lazonick in The New Yorker
Jun 20, 2019
INET grantee William Lazonick is profiled in The New Yorker
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Conference Session
Credit Supply Shocks: Where do they come from, and what are their effects?
Jun 20, 2019 |
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Conference Session
Credit Booms and Crises: what do historical bank-level data tell us?
Jun 20, 2019 |
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Conference Session
Subprime Lending and the 2008 Crisis: Do we need a new narrative?
Jun 20, 2019 |