Archive

James Galbraith says academic economics is in need of radical reform

Alissa Quart’s new book chronicles the pain of a disgruntled class that could change the country’s political landscape.

Clear rules and sound principles for debt restructuring would level the playing field between developing countries and creditors

The Latin America Working Group and the Keynesian Economic Working Group of the Young Scholars Initiative (YSI) of the Institute of New Economic Thinking (INET) are hosting the workshop “Technology, Globalization and the Environment: Latin American Development in the XXI Century” to be held at the headquarters of the United Nations Economic Commission for Latin America and the Caribbean (UN-ECLAC) in Santiago de Chile on the 23-24 July 2018.

The New York Times features Michael Greenberger’s INET paper on how banks evade derivatives regulation

Young Scholars based in Latin America are invited to convene in Buenos Aires. The event serves to strengthen the Latin American network of new economic thinkers pursuing a new economic paradigm. Attendees will be able to enjoy several partner events during the same week.

Journalist Steven Brill discusses how the U.S. lost sight of the common good

13 million people looking for living wage work is not a “full employment” economy

The social and medical sciences depend on randomised control trials – though they face more assumptions and biases than commonly thought.

This small interdisciplinary workshop, is organized by the Azim Premji University, Institute for Policy Dialogue and the Institute for New Economic Thinking. The goal of the workshop is to bring together graduate students studying development studies at a sufficiently advanced stage of their dissertation work to be able to discuss and receive feedback on their research.

Was Martin Luther King a socialist? New book may surprise you.

The YSI Economic Development Working Group will host a series of panels at the annual conference of the Association for Heterodox Economics, with the goal of developing an innovative research program on productive structures, institutions, distribution, and economic development. 

This three-day summer academy and annual meeting of the Finance, Law, and Economics Working Group aims to bring together graduate students and young professionals pursuing careers in international economic law. By learning from prominent academics and practitioners in the field, participants will develop the fundamental skills to handle multi-jurisdictional and interdisciplinary issues, while broadening their networks. After successful attendance, YSI FLE will issue the corresponding certificates.

Matias Vernengo explains how economic crises reveal the nakedness of neoliberal policies

Fast Company covers Michael Greenberger’s paper for INET on how banks evade regulation of credit default swaps

YSI is hosting sessions at the 2018 STOREP conference.

Fred Block says capitalism is not an unchanging monolith—which means we can make it better

From 28-30 June the Italian Association for the History of Political Economy will be gathering in Genova to ask the question “Whatever has happened to political economy?”.  Before the start of the conference, Rethinking Economics and the YSI Philosophy of Economics Working Group will host a workshop to discuss a related question: “Whatever happened to economics?”. Professor Geoffrey Hodgson will participate in our discussion.

The Koch brothers scandal at George Mason University

Forbes cites our interview with Jim Chanos on Bitcoin

When politics is defined in terms of “populism” vs. “the mainstream,” the possibility for real economic reform is diminished.

Edoardo Nesi’s new book tracks the destructive march of globalization and neoliberal capitalism through his own life and the places, like Italy, that lie broken in its wake.

A light-hearted economic analysis of the World Cup

70 years ago today, Edward A. Tenenbaum helped pull off an astounding feat—successfully reforming Germany’s currency after World War II

Michael Greenberger says unregulated credit default swaps could take down the economy—and taxpayers—again

By evading regulation of credit default swaps, the major U.S. banks put taxpayers—and the entire economy—at risk

NPR’s All Things Considered features Michael Greenberger’s INET Working Paper on how banks evade credit default swaps regulation

Bloomberg covers Michael Greenberger’s paper for INET on how banks evade regulation of credit default swaps

Converting an Obscure Agency Footnote into an “At Will” Nullification of Dodd-Frank’s Regulation of the Multi-Trillion Dollar Financial Swaps Market

The YSI Gender and Economics Working Group will host a workshop during the pre-conference of the 27th IAFFE Annual Conference. Members of the Gender and Economics WG will also be welcomed to take part in the workshop and mentoring activities organized by IAFFE in the pre-conference.  

The election of Italy’s right-wing, populist government exposes the economic and democratic shortcomings of the European project and its nationalist rivals

The symposium focuses on the various paradigms of economic and social policy at work in the Scandinavian countries, in light of the most recent macroeconomic developments given by increased inequality, population ageing and automation.

In a complex world, we’ll experience more “black swans”, and the things that standard economic models assumed away will matter much more.

A change in macroeconomic policies will not be sufficient to set Argentina on a path of inclusive and sustained economic development. But, as last month’s currency scare showed, abandoning the approach adopted by President Mauricio Macri’s administration at the end of 2015 is a necessary step.

The World Bank and IMF say developing economies can’t afford to have strong labor laws. Actually, they can’t afford not to.

The removal of term limits for Xi Jinping may be a better indicator of economic health—or crisis—than official statistics

In “celebration” of the late Pete Peterson’s 92nd birthday (see guest list), an excerpt from 19th Century historian Lord Macaulay’s History of England, on hundreds of years of unwarranted panic about government debt.

The economist had to learn moral philosophy before anything else—an underpinning that’s still helpful for today’s students

Labor market regulation is a controversial area of public policy in both developed and developing countries.

The Institute of New Economic Thinking Young Scholars Initiative (INET YSI) Working Group on the History of Economic Thought is organizing a YSI Workshop on Institutions and Communities in the History of Economic Thought on 6 June in Madrid, Spain, ahead of the Annual ESHET Conference

Business Insider cites our interview with Jim Chanos on Bitcoin

Marketwatch cites our interview with Jim Chanos on Bitcoin

CNBC cites our interview with Jim Chanos on Bitcoin

The “dean of short sellers” says bitcoin is the last thing he’d want to own in the event of a catastrophe.

Quartz features INET President Rob Johnson on INET Co-Founder George Soros’s plan to save the EU

As in previous years, young scholars will come together in Trento during the annual Festival dell’Economia. This gathering will serve as the YSI Europe Convening for 2018. Attendees will have the opportunity to share their work with YSI members from across Europe, while also partaking in the Festival dell’Economia. 

Nobel laureate James Buchanan is the intellectual linchpin of the Koch-funded attack on democratic institutions, argues Duke historian Nancy MacLean

Economist James K. Boyce argues that the distribution of carbon tax revenue is just as important as the price itself

A presentation from the panel “Research Evaluation in Economic Theory and Policy Making” at the 2018 G20 Global Solutions Summit in Berlin

Alberto Baccini’s presentation for INET’s panel on research evaluation at the G20 Global Solutions Summit in Berlin, May 2018.

In a memo for the G20, INET calls for changes to the evaluation of economic research to ensure that economic theory—and policy—is more rigorous, innovative, and in service to society. 

Introducing INET’s body of work on dysfunctions in research evaluation, Rob Johnson shows how breaking academic conformity is vital for the economics profession—and the economy itself.

Academia—and economics in particular—has increasingly placed emphasis on measures of research “quality” that do more to narrow intellectual exploration than they do to produce good scholarship. With a mandate of reforming the economics profession, INET has produced a series of research on the issues of evaluation and citations, academic conformity, and exactly what makes “good” economics.

Bill Janeway explains why “efficiency is the enemy of innovation,” and how venture capitalists and the state advance technological change

What Money Can’t Buy is a six part series exploring the role of money and morals in today’s world.

Has the global financial crisis of 2007 had a visible impact on the economics profession?

Michael Sandel takes What Money Can’t Buy’s themes of markets and morals and applies them to an analysis of the rise of populism in the West.

With growth fueled by an increase in debt, Argentina is facing an uncertain economic future, despite investors’ generally rosy view. The government of Mauricio Macri has options to address the country’s macroeconomic risks, but none of them will be free of tough choices.

200 years after Marx’s birth, many elites have taken unabashed pride in capitalism, a term that originally had negative connotations. To make our economy more just, we must reclaim Marx’s understanding of capitalism’s contradictions.

Adair Turner, Chair of the Institute for New Economic Thinking, Lecture at School of Advanced International Studies, Johns Hopkins University, Washington DC April 10th 2018

In These Times cites INET research in calling for putting drug companies under public control.

200 years after Marx’s birth, a look at how two economists sought to reconcile his idea of common ownership with market mechanisms

Global public goods, from health to peace to security, crisscross national and social boundaries. We need a new economic theory to understand their pivotal role in the global economy.

It’s time to connect political violence with economic violence.

To mark the release of INET’s “What Money Can’t Buy” with professor Michael Sandel, the YSI Philosophy of Economics Working Group and and Finance, Law and Economics Working Group invite young scholars working on issues related to the core issues in Michael Sandel’s lectures to present their work in a series of webinars. Professor Sandel will join the webinars to answer questions about the topics raised in his book, the video lectures and to give comment on the presentations.

Wage suppression—not monopoly power—is fueling corporate profits and the growing gap between rich and poor

“Meso” level analysis of 16 producing sectors sheds light on broad forces shaping growth of employment and profits. 

INET Senior Economist Arjun Jayadev and Dean Baker explore the patent system of Brazil, and its implications for developing countries.

The discipline is divorced from real-world relevance and has lost credibility, writes INET Global Commissioner Mohamed A. El-Erian 

Nobel laureate Joseph Stiglitz, in an exclusive interview with timesnownews.com, talks about what is wrong with current American capitalism, rise of a new kind of politics emerging from dissent towards government and more. Here are some excerpts from the interview.

Richard Baldwin writes on why we must rethink our outdated ideas about international trade.

For the BRICS countries to not just grow their economies but also raise the standard of living of their people, inclusive growth that prioritizes poverty reduction is a must

“The Zero Hour with RJ Eskow” talks to Lynn Parramore about her INET piece on public education.

To celebrate the release of our new series “What Money Can’t Buy” join Harvard University Professor Michael Sandel and INET for a live conversation exploring the role of money and morals in today’s world.

But the five countries must still support greater investment in other emerging and developing economies

Nobel laureate Joseph Stiglitz, Mayor of Newark Ras Baraka, CEO of the Campaign for Black Male Achievement Shawn Dove, Pulitzer-prize winning author Heather Ann Thompson and more discuss race and inequality in Trump’s America Friday, April 20th 5-7pm.

As early as 1900, German sociologist Georg Simmel identified a central feature of wealth in his seminal work The Philosophy of Money. Simmel writes about the superadditum of wealth for the rich, namely that a great fortune is encircled by innumerable possibilities of use, as though by an astral body.

Newspapers consistently underplay wide public support for higher taxes on businesses and the wealthy

Over the last four decades, Americans have consistently told pollsters that they favor higher taxes on business and the wealthy, even as tax policy has moved sharply in the other direction.

A series on the changing economic dynamics of the BRICS countries—Brazil, Russia, India, China, and South Africa.

The BRICS countries—Brazil, Russia, India, China, and South Africa—play a crucial and growing role in the world economy. Sanjay Reddy kicks off our series exploring shifting social and economic dynamics within these countries, and what they mean for the global economy.    

Ahead of the series launch, Harvard’s Michael Sandel discusses the moral limits of markets with Rob Johnson

The INET YSI Financial Stability working group (WG) is organising a workshop as part of the Rethinking Finance Conference in Oslo at the Norwegian Business School BI on April 14th, 2018.

The twin threats of right-wing populism and unencumbered financial capitalism pose a crisis for democracy across the world, argues Robert Kuttner in his new book, Can Democracy Survive Global Capitalism?

Training first-world children for a third-world life

The economist reflects back on the racial justice leader who showed him the limits of his academic training.

Martin Luther King, Jr. and other civil rights leaders relied on black entrepreneurs to make their work possible

Steve Fazzari argues that stimulating demand is the key to jump-starting stagnant economies

The vision of Dr. Martin Luther King Jr. 50 years later, and the relevance of his economic ideas today