Archive
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Article
Renminbi to the Rescue?
Dec 10, 2015
With the RMB in the SDR, careful progression in China could balance the international monetary system.
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Section
The Money View
The idea of this blog is to engage current financial news and policy debates from the standpoint of the classics of monetary theory. We ask, “What would Bagehot say?”, “What would Minsky say?”, “What would Fischer Black say?” Like them, our starting point is the idea that capitalism is essentially a financial system, which means that we need to take a money view in order to understand how it works.
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Article
How Economics and Race Drive America’s Great Divide
Dec 10, 2015
Can education stop the country’s backward slide?
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Video
Invention vs Innovation
Dec 8, 2015
Innovation is not a magic pill to solve the current afflictions that ail our 21st century economy.
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Working Paper
Working Paper SeriesVeiled Repression: Mainstream Economics, Capital Theory, and the Distributions of Income and Wealth
Dec 2015
The Cambridge UK vs USA capital theory debates of the 1960s showed that the workhorse mainstream growth model relies on unsustainable assumptions. Its standard interpretation is not consistent with the last four decades of data.
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Article
The SDR is the Catalyst for China’s Currency Internationalization
Dec 7, 2015
There is a deeper story to be told about the inclusion of the Renminbi.
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Video
Connecting American Foreign Policy to Economic Policy
Dec 7, 2015
How might a reimagined American foreign policy both bolster the domestic economy and help build a 21st-century global economy that works for everyone?
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Article
Global Tax Dodging Just One Part of Pfizer’s Corrupt Business Model
Dec 3, 2015
Why are we paying for corporate behavior that crushes innovation, cheats taxpayers, cost jobs, and heightens inequality?
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Article
Replication and Transparency in Economic Research
Dec 3, 2015
In 2003, McCullough and Vinod wrote, “Research that cannot be replicated is not science, and cannot be trusted either as part of the profession’s accumulated body of knowledge or as a basis for policy.”(1)
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Article
RMB in SDR, Now What?
Dec 2, 2015
“Governments propose, markets dispose,” as Charles Kindleberger liked to say.
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Video
Do Economists Understand the Economy?
Dec 1, 2015
Lance Taylor explains how missing the big picture is too common in the field.
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Article
The American Dual Economy: Race, Globalization and the Politics of Exclusion
Nov 30, 2015
The United States economy has come apart, with the rich getting richer and workers’ incomes not advancing at all.
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News
Adair Turner Oxford Book Launch
Nov 30, 2015
Lord Adair Turner visited the Oxford Martin Lecture Theatre on Tuesday 24 November for a well-attended INET Oxford event launching his latest book ‘Between Debt and the Devil: Money, Credit, and Fixing Global Finance’ (Princeton University Press).
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Working Paper
Working Paper SeriesLearning, Expectations, and the Financial Instability Hypothesis
Nov 2015
This paper analyzes what assumptions on formation of expectations are consistent with Minsky’s Financial Instability Hypothesis (FIH) and its corollaries.
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Article
Will Spain Reject Austerity?
Nov 20, 2015
Spain’s future path for economic policy will soon be decided.