Archive

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

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.

Risky lending took down the global economy in 2008. Tracking it now is a vital job for economists, says Juliane Begenau

Economics needs to better incorporate other social sciences

Inadequate demand and climate change require a global green new deal

Economists like to say they’re immune from ideological influence. Our research shows the opposite.

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!

INET’s grantees and Commission on Global Economic Transformation are looking at artificial intelligence and society.

Progressive movements can and should push for pluralism in economics

Economics is often thought of as emotion-less, but Daniel Benjamin argues for happiness as a vital indicator

Economist James K. Boyce explains how to fight climate change and rising income inequality in one shot

Artificial intelligence promises to make our lives easier. But is the cost losing some of our humanity?

The central goal of any serious climate policy is to keep fossil fuels in the ground. The central question is how.

Economist Marie Mora discusses the deep economic crisis that has afflicted Puerto Rico for years

The Chicago School has long used bankrupt assumptions to strangle antitrust policy

The Chicago School has long used bankrupt assumptions to strangle antitrust policy.

Political risk—and what firms do about it

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.

When the stock market grows faster than the housing market, the gains of the top 1% outpace those of the middle class

It was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.

It was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.

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?

The idea that businesses are run to maximize profits for shareholders is just plain wrong, says William Lazonick

With journalism moving from a stable to a precarious profession, digital media workers have become some of the most organized in the startup world

Frequent civil conflicts in African countries may erode national identity, thus highlighting a reason why civil conflict is costly for growth and development

Richard Vague and Rob Johnson discuss the role of excessive lending in causing financial crises throughout history

Frequent civil conflicts in African countries may erode national identity, thus highlighting a reason why civil conflict is costly for growth and development

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.

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.

By promoting unrealisitc models, economists have become part of problem rather than the solution

There is not one opioid crisis in America—there are many. And supply-focused measures won’t stop them.

INET grantee William Lazonick is profiled in The New Yorker

Shaped by the 2008 financial crisis, a new generation of economists is expanding the boundaries of economic thinking on credit cycles, private debt, and financial stability.

Steven Pressman says in the next few years, we could see rising interest rates bring about a recession

Matthew Baron challenges conventional myths about booms and busts

Ben Power, who adapted the play “The Lehman Trilogy,” talks about the eponymous family’s role in the creation and destruction of American wealth

How free electricity could fight climate change and inequality

Veteran writer and public speaker Lynn Parramore gives you three keys to sharing your research with an audience. Quell the fear, banish the boredom, and light the fire!

Returns on wealth exceed growth for more countries, more years, and more dramatically than Piketty has found

The state has long used law to back private money—with dire consequences, then and now

For all the talk of Modern Monetary Theory representing a brave new frontier, it is easy to forget that the United States has gone down this road before, when the US Federal Reserve financed the war effort in the 1940s. Then, as now, the question is not about government debt, but about the debt’s purpose and justification.

A report of the Commission on Global Economic Transformation’s subcommittee on Macroeconomics & Finance

A collection of our research on populism, globalization and nationalism

This year the YSI participation at the Trento Festival of Economics will be different. There will be no panels with talks that are too long, actually, there will be no talks at all… Welcome to The Trento Experiment!

Treating education like a market is all the rage. But it hurts students, and our society.

Artificial intelligence doesn’t have to be a job killer—if we use it right

One of America’s leading socialists discusses how a collectively owned economy would be structured, the limits of the welfare state, and what Keynes understood that Marx didn’t

Everyone is waking up to the fact that estimates of what is possible in the economy are way off: this paper explains why

Everyone is waking up to the fact that estimates of what is possible in the economy are way off: this paper explains why

The implications of rising inequality are massive. Economists need to tackle it together.

INET Global Commission to collaborate with Pope Francis and Scholas Occurrentes on bringing the voices of young people into the economics profession

When workers are classified as independent contractors instead of employees, they fall into a hole not covered by many labor protections

The Chicago School’s weakening of antitrust law hurt the economy