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    Charles Goodhart: Europe After the Crisis

    Oct 20, 2011

    Goodhart brings back on the table the 2% minimalist federal fiscal counterpart to monetary union: “As has been exemplified in the recent crisis, it is problematical to try to issue money without the power to support that via taxation. Equally without access to money (notably via taxes), the power to undertake counter-cyclical, or cross-country, stabilisation is limited. So, the second proposal is to revisit the exercise that was done, some twenty years ago, to assess what fiscal changes might be needed to accompany a single currency.”


    READING ROOM: Economics has met the enemy, and it is economics

    Oct 15, 2011

    The Globe and Mail published a long piece about the dismal science, covering a lot of ground from moral philosophy to rational expectations, from Adam Smith to this year’s Nobel laureate Thomas Sargent, from the Post-Autistic Economics movement to the Institute for New Economic Thinking. Excerpts:


    The Map Is Not the Territory: An Essay on the State of Economics

    Oct 3, 2011

    INET presents you a paper that deals with the relationship between economics and the world we live in. John Kay spells out methodological critiques of economic theory in general, and of DSGE models and rational expectations in particular. The paper builds on two articles that Kay, Fellow at St. John’s College of Oxford University and Visiting Professor at the London School of Economics, recently published in the Financial Times (scroll down to find the links). It is concerned with the relation of quantitative models to the world in which we live, and with evergreens such as the implications of unrealistic assumptions in economic theory. Highly recommended reading. INET forwarded Kay’s paper to a handful economists and invited them to respond. In the following days, we are going to publish direct responses to the paper by a handful of prominent economists. Follow the INET Blog and stay tuned to what is going to be a healthy discussion.


    READING ROOM: Adam Curtis on the history of economic think tanks in the UK

    Sep 22, 2011

    A story about the rise of the modern Think Tank and how in a very strange way they have made thinking impossible.


    INET and CIGI are Now Accepting Research Proposals for the Fall 2011 Grant Program

    Aug 1, 2011

    The Institute for New Economic Thinking and The Centre for International Governance Innovation are calling for new research proposals in areas of vital importance to the field of economics for the Fall 2011 grants cycle.


    INET and CIGI Award Spring 2011 Grants

    Jul 11, 2011

    INET and CIGI Award Spring 2011 Grants: The grants offer a diversity of approaches and global perspectives that target critical issues that have been neglected by conventional economic analysis.


    Check out the New Book “Capitalism 4.0” by Anatole Kaletsky

    Jun 27, 2011

    Anatole Kaletsky explains the recent global crisis in sweeping historical context, and points out the once-in-a-lifetime opportunity now opening up to economists - particularly the younger generation.


    Tom Ferguson and Rob Johnson on Debt, Growth, and Austerity

    Apr 17, 2011

    Deficit Fantasies in the Great Recession


    Dissident vs Mainstream Tension at New Economic Thinking Conference

    Apr 9, 2011

    What is the right way to achieve change?


    Students in Bretton Woods: The Next Generation of Economic Thinking

    Apr 8, 2011

    It’s day two of INET’s Conference in Bretton Woods and a new energy has filled the halls and sessions with the arrival of nearly thirty student attendees.


    New Book from INET Advisory Board Member Barry Eichengreen

    Jan 9, 2011

    There’s a good column at by INET Advisory Board Member Barry Eichengreen, where he introduces his new book, titled Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System.


    Avoiding a Bleak Future for the Euro

    Dec 14, 2010

    In a recent piece in the Financial Times, George Soros makes the case that, to avoid a bleak future for the euro and the European Union in general, Europe should take steps to recapitalize banks before bailing out member states. In the piece, Soros discusses issues that INET is very interested in exploring further, such as the idea that flaws in macroeconomic theory helped lead to the financial crisis of 2008.


    How would Joe Stiglitz Would Fix the Economy

    Nov 16, 2010

    Can the Economy be Saved? The Los Angeles Times recently asked a number of economic experts about whether they thought the post-financial crisis economy can be saved, and if so, how.


    The Deficit Debate

    Oct 5, 2010

    Will public deficit reduction encourage private sector growth, or undermine a needed stimulus to recovery & lead to Japan-style stagnation?