Archive
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Article
The Top Journals Club in Economics
Nov 20, 2018
Prejudice and collusion, not simply research quality, drive journal citations
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Working Paper
Working Paper SeriesCitation Patterns in Economics and Beyond
Nov 2018
Assessing the Peculiarities of Economics from Two Scientometric Perspectives
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Working Paper
Working Paper SeriesCitation Patterns in Economics and Beyond
Nov 2018
In this paper we comparatively explore three claims concerning the disciplinary character of economics by means of citation analysis.
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News
Bill Lazonick Research in New York Times
Nov 19, 2018
William Lazonick’s INET research is featured in his New York Times op-ed
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Video
A Market for Votes?
Nov 16, 2018
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
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Article
When the Middle Class Lost Its Wealth
Nov 15, 2018
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.
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Article
Apple’s “Capital Return Program”: Where Are the Patient Capitalists?
Nov 13, 2018
Instead of rewarding the taxpayers and employees who actually create value for the tech giant, Apple is doling out massive stock buybacks
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Article
U.N. Secretary-General Meets with INET Global Commissioners
Nov 12, 2018
António Guterres and CGET Commissioners discuss cooperating on inequality, climate change, multilateralism, and more
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Video
Money Matters
Nov 7, 2018
Neoclassical economics dismisses the role of money and the state in the economy. Keynes scholar Robert Skidlesky says it’s time for a re-evaluation.
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News
Jacobin Q&A with Tom Ferguson
Nov 6, 2018
Jacobin Magazine’s Q&A with Tom Ferguson about his new INET paper.
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News
Real News Network Features INET Paper on 2016 Election
Nov 6, 2018
Real News Network interviews INET Research Director Tom Ferguson about his new paper on money and the 2016 U.S. presidential election.
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News
Thomas Ferguson on Background Briefing
Nov 4, 2018
INET Research Director Tom Ferugson talks about Donald Trump and racial resentment with Ian Masters’s Background Briefing
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YSI Event
LALICS-YSI INET Academy 2018
YSI
WorkshopNov 3–9, 2018
Our focus is on teaching and discussing theoretical and empirical methods related to the innovation processes in Latin America and the Caribbean and how these are linked to the economic development of the region. The Academy offers the opportunity to connect students to a research community integrated by high profile researchers.
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Article
Cheap Talk on Race and Xenophobia Keeps Americans from Confronting Economic and Political Peril
Nov 2, 2018
Adolph Reed, who researches race and politics, warns that “identitarian” politics can conceal the structural inequities of capitalism
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Video
The Rise of Fake News
Nov 2, 2018
Right-wing news sources have stopped playing by the rules of journalism
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Article
Big Money—Not Political Tribalism—Drives US Elections
Oct 31, 2018
Conventional wisdom asserts that American politics is becoming more and more tribal. But the chiefs of the tribes share a lot in common: dependence on big money.
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News
The Intercept: Donald Trump Exploited Long-Term Economic Distress to Fuel His Election Victory, Study Finds
Oct 31, 2018
The Intercept covers a new INET paper from our Research Director Tom Ferguson and his co-authors.
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Article
Economic Distress Did Drive Trump’s Win
Oct 31, 2018
Contrary to the dominant media narrative, social issues like racism and sexism on their own can’t explain Trump’s success.
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Working Paper
Working Paper SeriesThe Economic and Social Roots of Populist Rebellion: Support for Donald Trump in 2016
Oct 2018
This paper critically analyzes voting patterns in the 2016 U.S. presidential election.
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Video
The Rise of China and the Future of Work
Oct 29, 2018
The Rise of China and the Future of WorkArtificial intelligence could replace routine jobs but allow us to “pursue dreams”
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YSI Event
YSI @ FMM Conference: 10 Years after the Crash
YSI
ConferenceOct 25–27, 2018
What did societies and politicians learn from the crash? What have been theoretical achievements in orthodox and heterodox economic thinking since then? Where do we go from here?
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Article
Beyond the Dollar
Oct 24, 2018
The current international monetary system is costly, unfair, and risky. “Economic nationalism” and deregulation in the U.S. will make it worse. A multilateral alternative is needed.
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Video
Can America Survive the Rule of a “Stupified Plutocracy”?
Oct 24, 2018
Donald Trump, democracy, and how the wealthy crush the American Dream
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YSI Event
1st GLOBELICS pre-Conference for Young Scholars
Workshop Series on Financing of Innovation and Infrastructure for Development
YSI
WorkshopOct 23, 2018
The YSI Economics of Innovation, Economic Development and Africa Working Groups, in partnership with Global Network for Economics of Learning, Innovation and Competence Building Systems (GLOBELICS), Globelics Alumni, are organizing the 1st GLOBELICS Pre-Conference for Young Scholars entitled ‘Financing of Innovation and Infrastructure for Development’.
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Article
Partisan Frenzy Rules Washington, but Does it Have to Rule Americans?
Oct 22, 2018
To connect across difference is the only thing that will save us from rule by the privileged few.
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Article
Why Wages Are Stagnating in Latin America
Oct 19, 2018
William Lazonick has shown how the doctrine of “shareholder value” has hurt wages in the United States. But in Latin America, where family corporations dominate, the story is more complicated.
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News
Jacobin Features INET Paper on 2016 Election
Oct 19, 2018
Jacobin Magazine features research from INET Research Director Tom Ferguson and co-authors on big business support for Donald Trump in the 2016 campaign.
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Video
New Economic Thinking Needs Old Ideas
Oct 17, 2018
Investigating the history of economic thought fuels innovative thinking
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YSI Event
Economics and the Development of Africa
YSI Workshop @ 13th Annual Meeting of the African Economic History Network
YSI
WorkshopOct 13, 2018
The YSI Africa Working Group is convening in Bologna, Italy in conjunction with the 13th Annual Meeting of the African Economic History Network. Our meeting in Bologna follows what promises to be a successful convention in August 2018 at the YSI Africa Convening in Harare, Zimbabwe. The YSI Africa Working Group is committed to continuing important conversations about how economic history can contribute to the study of development of Africa. We are particularly interested in thinking about the types of new approaches to the study of economics and economic history.
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Article
Why Hysteria Over the Italian Budget Is Wrong-Headed
Oct 10, 2018
Reactions to the size of the proposed plan rely on discredited assumptions and betray a fundamental misunderstanding of economic growth—and austerity
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Video
Can AI Free Humans from ‘Routine’ Work?
Oct 10, 2018
Artificial intelligence (AI) is poised to replace routine jobs, says Dr. Kai-Fu Lee. But done right, that process could allow us to “pursue dreams, spend time with our loved ones and find out why we exist as humans”
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News
James Heckman in The Economist
Oct 6, 2018
Nobel laureate James Heckman, Sidharth Moktan and their INET-funded research on economics journals is featured in The Economist.
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YSI Event
Endogenous Preferences and the Consequences of Economic Incentives
Workshop by the YSI Behavior and Society Group
YSI
WorkshopOct 5–7, 2018
Young scholars in the fields of behavioral and experimental economics, philosophy, and related disciplines will be given the opportunity to present their work at a workshop in New York. Samuel Bowles (Santa Fe Institute), Shaun Hargreaves Heap (King’s College London) and Mario Rizzo (New York University) will also present their work and give feedback to the young scholars.
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Article
Inequality Represents a Wasted Opportunity for Poverty Reduction
Oct 4, 2018
Economists who dismiss inequality as a problem secondary to poverty miss the point: Inequality is part of what drives poverty
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Video
The End of American Exceptionalism
Oct 3, 2018
“We don’t look after each other at all,” says Jeffrey Sachs on America today
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Working Paper
Working Paper SeriesPublishing and Promotion in Economics: The Tyranny of the Top Five
Oct 2018
This paper examines the relationship between placement of publications in Top Five (T5) journals and receipt of tenure in academic economics departments.
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Article
The Tyranny of the Top Five Journals
Oct 2, 2018
Getting published in a top five economics journal is a near-requirement for tenure. But it’s a poor measure of research quality within a system that punishes creativity.
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News
Noam Chomsky Cites Thomas Ferguson's Paper
Oct 2, 2018
In a piece for The Intercept, Noam Chomsky cites Tom Ferguson’s paper on the influence of money in US congressional elections.
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News
James Heckman in The Chronicle of Higher Education
Oct 1, 2018
Nobel laureate James Heckman, Sidharth Moktan and their INET-funded research on economics journals is featured in The Chronicle of Higher Education.
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News
Rob Johnson on Background Briefing
Oct 1, 2018
INET President Rob Johnson appears on Background Briefing with Ian Masters to discuss the tenth anniversary of the bailout
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Article
Why Dodd-Frank Is a Shell Game for Banks
Sep 27, 2018
Ten years after the crisis, financial regulation leaves taxpayers holding the bag for banks’ safety net.
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Working Paper
Working Paper SeriesDouble Whammy: Implicit Subsidies and the Great Financial Crisis
Sep 2018
This paper concerns itself with the joint effect of implicit subsidies that are built into the US housing-finance system and financial safety net.
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Video
How Economics Became a Cult
Sep 26, 2018
Steve Keen: “What an education in economics does is make you into a zealot
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Article
Joseph Stiglitz and Alexandria Ocasio-Cortez Talk Social and Economic Justice
Sep 25, 2018
A Nobel Prize-winning economist and the second-most-famous democratic socialist in America sit down together
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YSI Working Group News
The 2008 Global Financial Crisis as History - YSI Webinar series
YSI
Sep 25, 2018
“You never want a serious crisis to go to waste. …This crisis provides the opportunity for us to do things that you could not before.” This YSI Webinar and Reading Group aims to contribute to the historicization of the Global Financial Crisis of 2008 and its repercussions.
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Article
The Rise of the Radical Right in Scandinavia
Sep 21, 2018
After Sweden’s elections, a look at how immigration and economics explain a political puzzle
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Article
A Better Bailout Was Possible
Sep 20, 2018
Back in 2008, a critical opportunity was missed when the burden of post-crisis adjustment was tilted heavily in favor of creditors relative to debtors. The result was not only prolonged stagnation, but also the Republican Party’s embrace of demagogic populism and the election of Donald Trump.
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YSI Event
Hello, Can You Hear Me? Added Value and Inequalities in a Global Market
YSI
ConferenceSep 20–21, 2018
The Young Scholars Initiative (YSI) is supporting the conference “Hello, Can You Hear Me? Added Value and Inequalities in a Global Market,” that will be held at La Sapienza University of Rome (Italy), on September 20th and 21st. The event is promoted by CEST and funded by the Young Scholars Initiative – INET and by the “Luigi Einaudi” Research Centre.
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Video
How Despair Fueled Trump
Sep 19, 2018
Trump’s surprise win areas looked like a drug overdose map
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Research Program News
Danny Quah on the Future of Global Trade
Sep 17, 2018
What would global trade without the U.S. at the helm look like? INET Global Commissioner Danny Quah investigates.
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Article
Double Whammy: Implicit Subsidies and the Great Financial Crisis
Sep 15, 2018
A financial industry safety net enriches bankers and their shareholders — at our expense
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Video
George Soros: 10 Years After the Crash
Sep 15, 2018
George Soros and Rob Johnson Discuss the Causes and Consequences of the 2008 Financial Crisis
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Article
Under Trump, the Next Financial Catastrophe is Cooking
Sep 13, 2018
Ten years after Lehman Brothers’ collapse, the Wall Street casino is running amok
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News
New Book: Inequality and Inclusive Growth in Rich Countries
Sep 12, 2018
INET Oxford’s Brian Nolan writes on his new book for VoxEU
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Video
The Economy’s Cuban Missile Crisis
Sep 12, 2018
In 2008 a global financial meltdown was just barely contained. But Adam Tooze says that the crisis of confidence has had long aftershocks
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Article
Macroeconomics Predicted the Wrong Crisis
Sep 10, 2018
Distracted by the perceived threat of a Chinese savings glut, mainstream macroeconomists missed the writing on the wall of the 2008 crisis
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News
Adair Turner on Bloomberg TV
Sep 10, 2018
INET Chairman Adair Turner reflects on the 2008 financial crisis on Bloomberg TV
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Collection
Summers vs. Stiglitz
Been following Larry Summers and Joe Stiglitz’s debate over secular stagnation? Check out their INET work on the topic here and decide for yourself who makes the better case.
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Article
Mortgage Fraud Fueled the Financial Crisis—and Could Again
Sep 7, 2018
Both before 2008 and today, there’s a disturbing tendency in Washington to not take mortgage fraud seriously
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Collection
2008: A Retrospective on the Financial Crisis
Before 2008, mainstream economics thought a global economic crisis on the scale of the Great Depression was impossible. Then Lehman Brothers declared bankruptcy. A decade later, INET looks back at the causes of the global financial crisis, and what policymakers—and economists—must change to prevent another one.
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Article
Mainstream Macroeconomics and Modern Monetary Theory: What Really Divides Them?
Sep 6, 2018
Despite disparate policy beliefs, MMT and orthodox macro rely on many of the same theoretical foundations
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YSI Event
Call for Papers: Inclusive or Exclusive Global Development? Scrutinizing ‘Financial Inclusion’
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Video
Why Economists Failed to Predict the Financial Crisis
Sep 5, 2018
10 years later, Nobel laureate George Akerlof says the walls within economics need to come down
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Article
The Problem with Paying Executives in Stock
Sep 4, 2018
In Europe and the United States, stock-based compensation discourages long-term corporate sustainability
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Article
When the Levee Broke
Sep 4, 2018
Ten years ago, the financial crisis washed away faith and trust in economics as a guide to social prosperity. Filling a void is difficult. We are still hard at work.
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Working Paper
Working Paper SeriesExecutive compensation in Europe: Realized gains from stock-based pay
Sep 2018
This paper adds to the empirical evidence on the extent to which stock-based pay incentivizes and rewards European corporate executives. It shows that the actual realized gains (that is, take-home compensation) from stock-based pay of CEOs in European publicly-listed firms may be underestimated by the use of “estimated fair value” measures. The paper also documents the heterogeneity among countries in terms of the levels and components of CEO take-home pay. We base our work on a sample of 301 large, publicly-traded companies listed in the S&P Europe 350 index from 11 EU countries: Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Spain, Sweden and United Kingdom for the fiscal year 2015. Through analyzing companies’ annual reports, we have hand-collected data on various elements of compensation of the company’s CEO in 2015, including the gains that executives realize from stock-based pay. We document that on average half of the total compensation of the European CEOs in our sample is stock-based, measured by actual realized gains, with large differences among countries. Although in some European countries the majority of total compensation is stock-based, the proportions are still well below those that prevail in the
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Article
Why We Should Worry About Monopsony
Sep 2, 2018
When a small group of companies can dominate a labor market, wages—and workers—suffer
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Video
Global Inequality is a Threat to Democracy
Aug 29, 2018
Winnie Byanyima shows how we all suffer when corporations evade taxes
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Article
America’s Broken Retirement System is a Recipe for Political Chaos
Aug 27, 2018
Expanding, rather than cutting, Social Security is the solution
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News
American Prospect Features INET Pharma Research
Aug 27, 2018
The American Prospect highlights William Lazonick’s INET paper on US Pharma’s Financialized Business Model.
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YSI Event
Political Economy of Capitalism
YSI
WorkshopAug 27–29, 2018
The Economics of Innovation Working group and the Economic History Working Group together with the Département d’histoire, économie et société at the University of Geneva, are launching the event Political Economy of Capitalism to be held in Geneva, Switzerland, on 27-28-29 August 2018.
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Article
Unstable Capital Flows Threaten Emerging Economies
Aug 24, 2018
It’s not just Turkey—from India to Indonesia, external financial liabilities are a looming threat
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Article
Market Power, Low Productivity, and Lagging Wages: The Real Drivers
Aug 23, 2018
To understand labor productivity—and growing inequality—you have to look at the “dual economy”
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Working Paper
Working Paper SeriesRace to the Bottom: Low Productivity, Market Power, and Lagging Wages
Aug 2018
“Dualism” in the structure of production across sectors of the US economy, employment by sector, productivity levels and growth, real wages, and intersectoral terms-of trade increased markedly between 1990 and 2016.
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Article
Social Stability and Resource Allocation within Business Groups
Aug 22, 2018
In China, the government uses the purses strings of state-owned enterprises to control social unrest
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Video
What Economists Can Learn from Hippies
Aug 22, 2018
Behind sex, drugs and rock ‘n’ roll were moral values, says music industry veteran Danny Goldberg
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Working Paper
Working Paper SeriesSocial Stability and Resource Allocation within Business Groups
Aug 2018
Using datasets on transactions within business groups and social sentiment in China, I show that state-owned enterprises (SOEs) use internal funds to address social unrest, complying with the government’s political goals.
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Article
The Zero-Sum Economy
Aug 20, 2018
The anthropologist David Graeber has argued that as much as 30% of all work is performed in “bullshit jobs,” which are unnecessary to produce truly valuable goods and services but arise from competition for income and status. But the deeper problem is that more and more economic activity performs a merely distributive function.
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News
WNYC Interviews Michael Greenberger
Aug 16, 2018
WNYC interviews Michael Greenberger about his INET paper on the unregulated derivatives market, and the threat it poses to the global financial system
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News
Washington Post Features Bill Lazonick's Research
Aug 16, 2018
The Washington Post cites William Lazonick’s INET paper on shareholder value
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YSI Event
YSI Africa Convening
YSI
Regional ConveningAug 16–18, 2018
Young Scholars based in Africa are invited to convene in Harare, Zimbabwe. The event serves to strengthen the African network of new economic thinkers pursuing a new economic paradigm. Attendees will be able to attend the annual conference of the Zimbabwe Historical Association in the same trip.
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YSI Event
YSI Africa Convening
YSI
Regional ConveningAug 16–18, 2018
Young Scholars based in Africa are invited to convene in Harare, Zimbabwe. The event serves to strengthen the African network of new economic thinkers, in pursuit of a new economic paradigm. Attendees will be able to the annual conference of the Zimbabwe Historical Association in the same trip.
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News
Vox Cites Bill Lazonick Research
Aug 15, 2018
Vox cites William Lazonick’s INET paper on shareholder value
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Article
The Mechanics of Cryptocurrency
Aug 15, 2018
INET Global Commissioner Peter Bofinger breaks down cryptocurrencies, and why they’re actually far from “anonymous”
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Video
How Artists Can Make Social Change
Aug 15, 2018
Watch music industry veteran Shep Gordon and INET President Rob Johnson talk about how reality TV, celebrity chefs, and surfing explain American politics and economy today.
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Article
Rethinking Social Progress in the 21st Century
Aug 14, 2018
A new report examines the path to global social progress. Unfortunately, there are no easy answers
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Collection
Cryptocurrency in Context
Cryptocurrency is one of the hottest topics in finance, yet it is often misunderstood, both by the general public and self-proclaimed “experts.” In this collection, members of the INET community offer a broader look at the economics of cryptocurrency, and money itself.
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Article
Why Digital Currency Won’t Save Us
Aug 13, 2018
State-issued digital money may avoid some pitfalls of cryptocurrency, but it’s no financial panacea
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News
INET Welcomes Two Academic Council Members
Aug 13, 2018
Sheila Dow and Antonella Stirati bring their scholarly expertise to INET’s research advisory group
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News
INET Swaps Research in Albany Times-Union
Aug 11, 2018
Zephyr Teachout and Morris Pearl cite Michael Greenberger’s INET paper in an op-ed in the Albany Times Union
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Video
Wall Street Is Better at Gambling Than Finance
Aug 8, 2018
Dennis Kelleher of Better Markets explains how we can stop the financial industry from gaming Washington
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News
INET Welcomes Two Governing Board Members
Aug 7, 2018
Arminio Fraga and Richard Vague bring their economic expertise to INET
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Article
Macroeconomics and the Italian Vote
Aug 6, 2018
To understand the rise of the League and 5 Star Movement, look at economic indicators
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YSI Event
YSI Workshop: Innovation, Economic Complexity and Economic Geography
In collaboration with the Collective Learning Group at the MIT Media Lab in Cambridge, Massachusetts.
YSI
WorkshopAug 5–7, 2018
The workshop aims to bring together experienced researchers with young scholars in the fields of Innovation, Economic Complexity and Economic Geography to understand knowledge accumulation and spillovers through products, people and places. Those interested in interdisciplinary research, especially bridging a gap between these topics are strongly encouraged to apply.
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Article
The Rise of Hedge Fund Activism
Aug 3, 2018
How corporate raiders coopted “shareholder democracy” for their own ends
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Working Paper
Working Paper SeriesThe Subversion of Shareholder Democracy and the Rise of Hedge-Fund Activism
Aug 2018
This paper explains how hedge-fund activists are exerting power over corporate resourceallocation far in excess of the actual voting power of their shareholdings.
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Article
Austerity Caused Brexit
Aug 2, 2018
Places hit hardest by austerity cuts were more likely to vote for UKIP and Leave
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Video
The Gay Wage Penalty—and Premium
Aug 1, 2018
Gay men earn 20% less than straight men, but gay women earn up to 20% more than straight women. Why?
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YSI Event
YSI Economic History Workshop @ World Economic History Congress
YSI
WorkshopJul 29, 2018
The YSI Economic History Working Group invites scholars to submit their research on alternative perspectives and different approaches to the study of economic history. The workshop will take place on 29 July, 2018, in Boston, Massachusetts, preceding the World Economic History Congress (29 July - 3 August).
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Article
Boycott the Journal Rankings
Jul 27, 2018
Journal rankings are a rigged game. The blacklist of history of economic thought journals isn’t a fluke nor a conspiracy—it exposes how citation rankings really work