While German economic policy makers continue to cling to neoclassical economic approaches, an increasing number of prominent economic figures are starting to accept the failure of orthodox theories to address the current crisis and are expressing the need to rethink fundamental economic concepts.

What is the purpose of America’s universities today?

One country poses an existential threat to Europe – and it is not Greece, Italy or Spain.

World Bank President Robert Zoellick is growing frustrated with the lack of urgency on the part of Europe’s leaders in responding to the financial crisis in the euro zone.

Leijonhufvud has questioned the flawed fundamentals of economics. And he has explored the spread of contagion in undermining the web of contracts that are the basis for capitalism.

Have you ever heard the old adage about the danger of allowing foxes to guard the henhouse? Apparently the New York Fed hasn’t.

“Spain is now heading down the same path that bankrupted Ireland,” INET grantee Stephen Kinsella of the University of Limerick and Mark Blyth of Brown University warn on the Harvard Business Review’s blog.

“Spain is now heading down the same path that bankrupted Ireland,” INET grantee Stephen Kinsella of the University of Limerick and Mark Blyth of Brown University warn on the Harvard Business Review’s blog.

What is the role of Germany in Europe?

Germany should not pay for the bankruptcy of Europe, at least according Hans-Werner Sinn, head of the Ifo Institute for Economic Research at the University of Munich.

Chicago School founder Frank H. Knight had some prescient observations in the early 20th century.

Today the world lost one of its leading economic lights, as Nobel laureate Elinor Ostrom passed away at the age of 78.

The refrain for some time now has been that the economy will decide the upcoming U.S. election. But Joe Stiglitz offers some much needed focus to this discussion.

“A chronic trend of this sort would indicate that the yuan was now overvalued versus the dollar,”

It’s crunch time in Europe.