History
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Commentary
Who is afraid of Neoliberalism? A comment on Mirowski
May 2016
While the Neoliberal movement’s concerns extend into a broad political reorganization of society, it remains intimately connected with neoclassical economic thought.
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Tunisia in Turmoil: When Supply-Side Orthodoxy Meets an Angry Citizenry
May 23, 2016
Mass protests challenging the government to focus on job-creation rather than on market liberalization and trade deals may carry a cautionary message to Western policy makers, too.
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How the term “mainstream economics” became mainstream: a speculation
May 23, 2016
From 1958 onward, the back cover of Paul Samuelson’s bestselling textbook, Economics, showed a family-tree of economists. The diagram’s evolution, in particular its use of the term “mainstream economics,” reflected, and, I speculate, influenced how economists came to perceive the structure of their discipline.
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The History of Economic Thought website is reborn
May 21, 2016
I am pleased to announce that the History of Economic Thought Website is back. I am thankful for the assistance of the Institute for New Economic Thinking (INET), which has supported its revival and made it possible.
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Is Wall Street Doing its Job?
May 20, 2016
What we’re reading: A weekly scan of published items relevant to the Institute’s work
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History of Economic Thought Website
Spanning centuries, this website concentrates information and resources on the history of economic thought for students, researchers and all those who are interested in learning about economics from a historical perspective.
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How the computer transformed economics. And didn’t.
May 19, 2016
The shift toward applied economics in the last 40 years is usually associated with the development of computers and datasets. Yet, the success of computer-based approaches is highly selective, and what computerization failed to change in economics is equally remarkable.
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Could fiscal policy changes revive US economic growth? Some contributions towards answering that question
May 19, 2016
Renewed interest by policymakers in the challenges of long-term slow economic growth highlights the importance of the Institute’s research
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Capitalism and the media: Can crowdfunding spare us from bad news?
May 18, 2016
Julia Cage warns that a media ravaged by market forces cannot serve democracy’s need for an informed citizenry.
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Commentary
Thoughts on Mirowski and Neoliberalism from a Polanyian Perspective
May 2016
Karl Polanyi demonstrated that Classical Liberalism and current Neoliberalism were organized political movements, but their successes sparked political backlashes against laissez-faire economics — a dialectic that continues to shape politics to this day.
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Neither Clinton nor Trump is engaging with the causes of America’s economic woes
May 17, 2016
Author Rana Foroohar explains why the economic policies being touted by both presidential frontrunners offer none of the new thinking necessary to drive a policy response to revitalize the economy
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Where the SPD and Germany would stand today without Agenda 2010
May 17, 2016
The SPD, the Social Democratic Party of Germany, has been collapsing in the popularity polls ever since they in 2003 launched the reform Agenda. What would have come of the party if it had not been for this insane rush to reform? Possibly Gerhard Schroeder could even still be chancellor today. A case for the time machine.
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Debate: How is the Greek rescue package being spent?
May 17, 2016
Despite using different methodologies, a number of scholars agree that most of the ‘bailout’ money is going to Greece’s foreign creditors
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Commentary
On Neoliberalism: Comments to Mirowski
May 2016
The following is based on Chapter 1 of my forthcoming book, Crisis and Sustainability. The Delusion of Free Markets.
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Independence vs. Accountability in the Evolution of the Fed
May 16, 2016
Peter Conti Brown’s new book explores and debunks a powerful meme shaping public understanding of the role of the Fed