Archive

The heterodox scholar was a fierce critic of neoclassical economics. But she also insisted that economics be driven by science, not ideology.

INET’s President introduces a new research program that challenges orthodox assumptions about the limits of economic knowledge

Rethinking the role of markets and government policy in light of our inherently limited ability to foresee economic and social outcomes

Servaas Storm’s INET research is featured in the Indian news magazine Frontline

Author Samuel Stein talks about how capitalism shapes housing and what economists have in common with city planners

This paper introduces the Knightian Uncertainty Hypothesis (KUH), a new approach to macroeconomics and finance theory.

Rethinking the role of markets and government policy in light of our inherently limited ability to foresee economic and social outcomes

The field of economics is aggressively sexist and biased against new and unconventional ideas. Revelations about gender and ethnic discrimination show the need to reorient the whole system toward more freedom, respect, openness, and pluralism. But how?

For women discussing economics, it’s still easier to be seen than heard

This new series will explore different takes on and claims about the challenges of women and minorities in economics, opening up a debate on a range of questions.

Inaugural conference addresses pressing issues around emerging technologies’ impact on economies and communities

The Crime Report features Shannon Monnat’s research on opioids

The Keynesian Economics and Complexity Economics Working Groups announce two special sessions, to be held at the annual conference of the EEA in New York.

To understand behavior and choice, we need to borrow from not just cognitive science but also sociology.

INET grantee William Lazonick’s research on drug pricing is featured in a New York Times op-ed

Decades before it caught on with other economists, Sadie Alexander was the first economist to recommend a government jobs guarantee in the US

On February 22-24, 2019, the Young Scholars Initiative (YSI) will host its North America Convening in Los Angeles.

What is the relationship between pluralist economics and interdisciplinary socio-economics? How does pluralist academic teaching need to be structured in economics or business administration in order to be successful? What should interdisciplinary socio-economic study programs look like, and how should teacher training in the field be designed? What kinds of new study materials, textbooks, and teaching methods are required?

We need to ban stock buybacks, while building a movement for basic economic rights

Pharmaceutical pushers like Purdue “couldn’t have done their dirty work” without America’s increasingly unbalanced economy

We can land planes safely at crowded airports, yet we can’t manage to make our financial system safe. Why?

John Kenneth Galbraith noted in 1973 that establishment economics had become the “invaluable ally of those whose exercise of power depends on an acquiescent public.” If anything, economists’ embrace of that role has grown stronger since then.

Asset markets are indispensable in harnessing society’s diverse views and insights about future business performance. But those views are shaped as much by emotion and crowd mentality as by rational expectations.

Asset markets are indispensable in harnessing society’s diverse views and insights about future business performance. But those views are shaped as much by emotion and crowd mentality as by rational expectations.

The latest meeting of INET’s Commission on Global Economic Transformation addressed the impact of technological change on jobs and society—and how best to harness the power of tech

Economic distress in rural areas and opioid exposure in cities are key indicators of overdose deaths

Economic distress in rural areas and opioid exposure in cities are key indicators of overdose deaths

Atlantic CityLab features Shannon Monnat’s research on the opioid crisis

In this series, scholars and activists challenge economic orthodoxy by showing how race functions as an arbiter of access to power, privilege, and wealth.

The latest meeting of INET’s Commission on Global Economic Transformation addressed the impact of technological change on jobs and society—and how best to harness the power of tech

For years, governments in India and much of the developing world have followed the advice of a paper arguing that labor regulations actually hurt workers. The problem? The research was wrong.

For years, governments in India and much of the developing world have followed the advice of a paper arguing that labor regulations actually hurt workers. The problem? The research was wrong.

Universal Basic Income is gaining in popularity, among socialists and libertarians alike. But when it comes to implementation, the devil is in the details.

The New York Times quotes INET Senior Fellow Adair Turner on the bifurcated workforce

Journalist Andrea Gabor’s new book heralds a “quiet revolution” in education you didn’t know was happening

Thomas Piketty and his colleagues have insisted that tax records are better for measuring inequality than income surveys. They’re wrong.

Central bankers pursue a “neutral” rate that doesn’t exist

Starting with the literature on the estimates of the natural rate of interest, this paper critically analyzes the modern practice of identifying the benchmark rate of monetary policy with an equilibrium or neutral interest rate reflecting “fundamental forces” unaffected by monetary factors.

U.S. GDP accounting underestimates intangible capital, overstates financial capital, and is all but oblivious to the erosion of human and social capital.

INET’s Adair Turner talks about the slowdown in the Chinese economy on Bloomberg TV

Chaired by Nobel laureates Joseph Stiglitz and Michael Spence, INET has assembled a global team of leaders and scholars calling for new thinking & new rules for the world economy

From tax loopholes to high-risk speculation, Vanguard’s founder reflects on the state of Wall Street and the change needed to make finance work for ordinary people.

When central banks set inflation targets, they effectively redistribute income from wage earners to bondholders

Under the guise of “philanthropy,” business elites have an increasing grip on society

This year’s American Economics Association conference featured INET researchers, a cocktail reception, and a new interactive poll 

The Private Debt initiative is an opportunity to articulate how private debt impacts the economy and to specify the pathways for its effects. The initiative will also lead to better knowledge for the use of regulators, policymakers, journalists, and the public. Finally, the Private Debt initiative will open a better-informed dialogue towards tangible solutions to the problems posed by excessive private debt.

U.S. GDP accounting underestimates intangible capital, overstates financial capital, and is all but oblivious to the the erosion of human and social capital. A serious growth slowdown is coming.

Thomas Piketty and his colleagues have insisted that tax records are better for measuring inequality than income surveys. They’re wrong.

The American economy changed rapidly in the last half-century. The National Income and Product Accounts (NIPA) were designed before these changes started. They have stretched to accommodate new and growing service activities, but they are still organized for an industrial economy.

Vox features INET’s package of climate research

Eisuke Sakakibara: China and India will become titans on the world stage

Judge Richard Posner and Michael Sandel debate the moral limits of markets

The Atlantic features INET’s curriculum committee

Learn about the Young Scholars Initiative (YSI) at the Institute for New Economic Thinking, and join a panel discussion on Political Economy and New Economic Thinking with Thomas Ferguson, Perry Mehrling, and Katharina Pistor.

America’s new “philanthrocapitalists” are enabling social problems rather than solving them

A panel discussion on the importance of the role of the state alongside private enterprise to encourage innovative entrepreneurship, productivity and economic growth in an “Innovation Economy.”

Cowdery brings his expertise in business, foundations, and publishing to INET

Rob Johnson and Michael Sandel discuss the limits of rational choice

The Intercept highlights INET research from Enno Schröder and Servaas Storm and Gregor Semieniuk, Lance Taylor, and Armon Rezai

Wishful thinking and tinkering won’t cut it. Nothing short of a mass mobilization for deep de-carbonization across the global economy can avert the looming climate catastrophe.

Economists debate whether catastrophic global warming can be stopped while maintaining current levels of economic growth. Enno Schröder, Servaas Storm, Gregor Semieniuk, Lance Taylor, and Armon Rezai find there is a tradeoff between growth and decarbonization, while Michael Grubb responds with more optimism.

Hope for mitigating climate catastrophe may not be lost, but the scale of political change needed is no cause for optimism

A response to economists who doubt our capacity to decarbonize while maintaining robust growth

Market tweaks and incentives won’t save us from climate catastrophe. Only radical policy change will.

The new IPCC Report is overly optimistic about global productivity growth and fossil fuel energy use. More dramatic, immediate action is needed

Wishful thinking and tinkering won’t cut it. Nothing short of a mass mobilization for deep de-carbonization across the global economy can avert the looming climate catastrophe.

The YSI Complexity Economics Working Group is delighted to invite all Young Scholars interested in Agent Based Modeling to apply for the Summer School on Computational Methods and Agent Based Modeling (Curitiba Summer School)

Greg Mankiw says there should be a market for kidneys, but not for paying drug addicts to get sterilized.

The FSR Energy Innovation Area and the Complexity Economics Working Group of the Young Scholars Initiative (YSI) have the pleasure to invite you to participate in the 1st Energy Innovation Academy.

We need a new system of rules for the digital 21st century that enhances global digital cooperation and welfare. Nothing less than a historic gathering of the world’s key decision makers will get us there.    

The Independent profiles INET Chairman Adair Turner

Organized by the National Institute of Public Finance and Policy (NIPFP), New Delhi in collaboration with the Institute of New Economic Thinking, New York, the aim of the Law Economics Policy Conference series is to bring together legal, economic, and public policy thinkers to consider a variety of real world issues in India in a holistic manner.

LSE Director Minouche Shafik says that for democracy to work, we must keep the market out of certain domains

A new report shows an economically viable path to net-zero CO2 emissions in key industries by 2060

Microfinance and then financial inclusion have become buzzwords in international development. Such initiatives have mobilised and generated  large amounts of development funding, despite substantial amount of critique. Such critiques call for a more impartial assessment of the effectiveness of financial inclusion on the grounds that funds for microfinance, they argue, displaced development spendings on healthcare, education or infrastructure. In addition, the focus on expansion of financial markets to ‘bank’ and financially ‘include’ the poor may divert attention from more comprehensive and effective poverty reduction strategies. Critiques of this ‘way of doing development’ are often sidelined and labelled as ‘extreme’, ‘sloppy’ or ideology-driven rather than evidence-based. We believe that there is a need for contemporary development scholars from all disciplines to engage in those debates. This half-day workshop would bring in such scholars to discuss what we have learned from a decade of research on the microfinance, and how financial inclusion and the emergence of fintech may offer new opportunities - as well as risks - in for inclusive global development. 

Prejudice and collusion, not simply research quality, drive journal citations

Assessing the Peculiarities of Economics from Two Scientometric Perspectives

In this paper we comparatively explore three claims concerning the disciplinary character of economics by means of citation analysis.

William Lazonick’s INET research is featured in his New York Times op-ed

Michael Sandel and Joe Stiglitz discuss why selling votes is bad for democracy, and how individual self-interest doesn’t always serve the public good

Until 2008, rising home values gave the middle class a cushion amid growing income inequality. But following the financial crisis, that wealth has failed to return.