Archive
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Working Paper
CommentaryWhy a money financed stimulus is not offset by an inflation tax
May 2016
In the growing debate about the pros and cons of a monetary financed fiscal stimulus (a.k.a. helicopter money) it is argued by some participants that a money-financed stimulus will have no more effect than a debt financed stimulus since:
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Article
The History of Economic Thought website is reborn
May 21, 2016
I am pleased to announce that the History of Economic Thought Website is back. I am thankful for the assistance of the Institute for New Economic Thinking (INET), which has supported its revival and made it possible.
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Article
Is Wall Street Doing its Job?
May 20, 2016
What we’re reading: A weekly scan of published items relevant to the Institute’s work
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Curriculum Material
History of Economic Thought Website
Spanning centuries, this website concentrates information and resources on the history of economic thought for students, researchers and all those who are interested in learning about economics from a historical perspective.
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Article
How the computer transformed economics. And didn’t.
May 19, 2016
The shift toward applied economics in the last 40 years is usually associated with the development of computers and datasets. Yet, the success of computer-based approaches is highly selective, and what computerization failed to change in economics is equally remarkable.
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Article
Could fiscal policy changes revive US economic growth? Some contributions towards answering that question
May 19, 2016
Renewed interest by policymakers in the challenges of long-term slow economic growth highlights the importance of the Institute’s research
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Working Paper
Working Paper SeriesStock-Market Expectations: Econometric Evidence that both REH and Behavioral Insights Matter
May 2016
Behavioral finance views stock-market investors’ expectations as largely unrelated to fundamental factors. Relying on survey data, this paper presents econometric evidence that fundamentals are a major driver of investors’ expectations.
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Video
Capitalism and the media: Can crowdfunding spare us from bad news?
May 18, 2016
Julia Cage warns that a media ravaged by market forces cannot serve democracy’s need for an informed citizenry.
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Working Paper
CommentaryThoughts on Mirowski and Neoliberalism from a Polanyian Perspective
May 2016
Karl Polanyi demonstrated that Classical Liberalism and current Neoliberalism were organized political movements, but their successes sparked political backlashes against laissez-faire economics — a dialectic that continues to shape politics to this day.
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Article
Neither Clinton nor Trump is engaging with the causes of America’s economic woes
May 17, 2016
Author Rana Foroohar explains why the economic policies being touted by both presidential frontrunners offer none of the new thinking necessary to drive a policy response to revitalize the economy
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Article
Where the SPD and Germany would stand today without Agenda 2010
May 17, 2016
The SPD, the Social Democratic Party of Germany, has been collapsing in the popularity polls ever since they in 2003 launched the reform Agenda. What would have come of the party if it had not been for this insane rush to reform? Possibly Gerhard Schroeder could even still be chancellor today. A case for the time machine.
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Article
Debate: How is the Greek rescue package being spent?
May 17, 2016
Despite using different methodologies, a number of scholars agree that most of the ‘bailout’ money is going to Greece’s foreign creditors
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Working Paper
CommentaryOn Neoliberalism: Comments to Mirowski
May 2016
The following is based on Chapter 1 of my forthcoming book, Crisis and Sustainability. The Delusion of Free Markets.
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Article
Independence vs. Accountability in the Evolution of the Fed
May 16, 2016
Peter Conti Brown’s new book explores and debunks a powerful meme shaping public understanding of the role of the Fed
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Article
Should the state be doing more to fix the economy?
May 13, 2016
What we’re reading: A weekly scan of published items relevant to the Institute’s work