Archive
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Working Paper
Working Paper SeriesThe Value-Extracting CEO: How Executive Stock-Based Pay Undermines Investment in Productive Capabilities
Dec 2016
The business corporation is the central economic institution in a modern economy. A company’s senior executives, with the advice and support of the board of directors, are responsible for the allocation of corporate resources to investments in productive capabilities. Senior executives also advise the board on the extent to which, given the need to invest in productive capabilities, the company can afford to make cash distributions to shareholders. Motivating corporate resource-allocation decisions are the modes of remuneration that incentivize and reward the top executives of these companies. A sound analysis of the operation and performance of a modern economy requires an understanding of not only how much these executives are paid but also the ways in which the prevailing system of executive pay influences their decisions to allocate corporate resources.
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Article
Rapid Money Supply Growth Does Not Cause Inflation
Dec 2, 2016
Neither do rapid growth in government debt, declining interest rates, or rapid increases in a central bank’s balance sheet
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Article
The Retreat from Hyper-Globalization
Dec 1, 2016
Flows of goods and services, people and capital have overwhelmed the ability of political processes to accommodate them
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Article
Will Trump Bring Neoliberalism’s Apocalypse, or Merely a New Iteration?
Nov 30, 2016
Real existing neoliberalism as a set of social facts distinct from a purist ideology has proven remarkably adaptable and politically resilient
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Article
Trump’s Win is a Warning: Europe Urgently Needs a New Deal
Nov 30, 2016
President Franklin D. Roosevelt’s policies allowed the United States to avoid the perils of right-wing populism that plunged Europe into war in the 1930s — Europe should learn from his example
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Video
Exploring the Economics of Race
Nov 30, 2016
Columbia professor Dan O’Flaherty explains how an awareness of racial trauma developed from growing up in Newark inspired him to write and teach on the economics of race.
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Collection
Political Turmoil
Viewing economic outcomes as divorced from politics risks serious misunderstanding and virtually ensures regulatory failure.
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Article
Bracing for Trumponomics
Nov 29, 2016
What we’re reading: Some analysts expect dramatic changes and a short-term boost to the US economy, others predict continuity — and see Trump’s election reflecting a sea change in the global order
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Article
India: Demonetization and its Discontents
Nov 28, 2016
By suddenly eliminating two widely used bank notes, India’s government risks undermining public confidence in the basic means of exchange
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Article
Trump Election and the Future of U.S. Global Leadership
Nov 28, 2016
Surviving the geopolitical and economic challenges of the coming years requires a world order less vulnerable to the vagaries of U.S. elections
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Article
Trumpism Has Dealt a Mortal Blow to Orthodox Economics and ‘Social Science’
Nov 23, 2016
How orthodox economics paved the way for the political shocks of 2016
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YSI Event
Prosperity without Growth with Prof. Tim Jackson
YSI
DiscussionNov 23, 2016
The YSI Working Group on Economic Development, the Greenwich Political Economy Research Centre (GPERC) of the University of Greenwich, and the Foundation for European Progressive Studies (FEPS) would like to invite you to a talk by Professor Tim Jackson.
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Collection
Trade
International trade and investment are vital drivers of economic growth. As the size and shape of the world economy enters a new period of change, trade patterns reflect an evolving reality
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Article
Economists and Trump: Straight Talk on Trade
Nov 20, 2016
By suppressing important questions in favor of being cheerleaders for globalization, economists failed to influence the public conversation
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Article
Why is Economics Still Largely a White Male Preserve?
Nov 17, 2016
How economics underperforms in diversity, and some potential remedies