Ben Power, who adapted the play “The Lehman Trilogy,” talks about the eponymous family’s role in the creation and destruction of American wealth
For all the talk of Modern Monetary Theory representing a brave new frontier, it is easy to forget that the United States has gone down this road before, when the US Federal Reserve financed the war effort in the 1940s. Then, as now, the question is not about government debt, but about the debt's purpose and justification.
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A collection of our research on populism, globalization and nationalism
Austerity has nurtured resentments that will likely make the populist right PVV the biggest winner in the March 15 election — but without the majority or the allies needed to govern
The U.S. economy is widely diagnosed with two ‘diseases’: a secular stagnation of potential U.S. growth, and rising income and job polarization. The two diseases have a common root inthe demand shortfall, originating from the ‘unbalanced’ growth between technologically ‘dynamic’ and ‘stagnant’ sectors.
To understand labor productivity—and growing inequality—you have to look at the “dual economy”
Report to the Institute for New Economic Thinking on the statistical measurement and policy implications of the compensation of the highest- paid U.S. corporate executives
Social scientists have stubbornly held that money and election outcomes are at most weakly linked. New research provides clear evidence to the contrary.
This paper critically analyzes voting patterns in the 2016 U.S. presidential election.
Economic distress in rural areas and opioid exposure in cities are key indicators of overdose deaths
Why Italy’s woes are a warning to the whole Eurozone
This paper traces the evolution of the concept of the cyclically adjusted budget from the 1930s to the present.
Training first-world children for a third-world life
I describe the American economy in the twenty-first century as a dual economy in the spirit of W. Arthur Lewis.
Growing income inequality is threatening the American middle class, and the middle class is vanishing before our eyes. We are still one country, but the stretch of incomes is fraying the unity of our nation.