Archive
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Working Paper
Conference paperDebt Restructuring versus Monetary Easing: The Eurozone Experiment
Mar 2014
Since the outbreak of the Greek debt crisis at the end of 2009, the Eurozone finds itself in an unprecedented debt crisis.
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Article
Kapital for the Twenty-First Century?
Mar 30, 2014
What is “capital”? To Karl Marx, it was a social, political, and legal category—the means of control of the means of production by the dominant class. Capital could be money, it could be machines; it could be fixed and it could be variable. But the essence of capital was neither physical nor financial. It was the power that capital gave to capitalists, namely the authority to make decisions and to extract surplus from the worker.
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Working Paper
Working Paper SeriesCrisis and Recovery in the German Economy: The Real Lessons
Mar 2014
Owing to its strong dependence on exports, Germany was among the economies hit hardest by the financial crisis.
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Article
Dancing in the Dark: Creating an Economics for the 21st Century
Mar 27, 2014
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Article
Economics as engineering III: Carnegie stories
Mar 23, 2014
The “economics and engineering” line of argument is part of economists’ rhetoric.
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Article
The Chartbook of Economic Inequality
Mar 18, 2014
We are not “all in it together.”
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Video
The Challenges of Europe's Monetary Union
Mar 9, 2014
Pisani-Ferry discusses the challenges facing the creation of a common monetary union in the form that was eventually agreed in the 1990s absent a political union.
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Article
The Exchange Rate as a Monetary Phenomenon
Mar 6, 2014
What exactly is an exchange rate?
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Article
Macrowars, economists' narratives, and my dreamed history of macro
Mar 2, 2014
The last straw in the enduring blog debate over microfoundations has taken a decisive historical turn.
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Working Paper
Grantee paperGreenhouse Gas and Cyclical Growth
Feb 2014
A growth model incorporating dynamics of capital per capita, atmospheric CO2 concentration, and labor and energy productivity is described.
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Working Paper
Grantee paperVarieties of Keynesianism
Feb 2014
Recent claims, particularly in Paul Krugman’s column and blog, on the superiority of the Hicks-Modigliani version of Keynesian economics calls for a re-thinking of the issues raised in the early controversies over what Joan Robinson called “bastard Keynesianism”.
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Article
Adair Turner’s Debt Addiction Remarks Turn Heads
Feb 27, 2014
Adair Lord Turner’s powerful comments about the global economy’s addiction to private debt are continuing to reverberate around the world.
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Article
German Court decision: Legal authority and deep power implications
Feb 26, 2014
Who wields supreme power over the ECB? This column analyses the recent ruling by the German Constitutional Court that the ECB cannot act as lender of last resort. Although seemingly couched by the referral of this decision to the European Court of Justice, this is a bid for power and the return to the pre-crisis paradigm of ‘ultra posse nemo obligatur’.
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Video
Building a Bridge Between Political And Economic Reform
Feb 23, 2014
In this “New Economic Thinking” interview, EBRD Chief Economist and Special Adviser to the President Erik Berglof, who also is a member of the Institute for New Economic Thinking’s Governing Board, discusses the report’s findings with Institute President Rob Johnson.
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Article
Is Italy's New Government Just More of the Same?
Feb 22, 2014
A showdown has taken place within Italy’s governing coalition.