Articles
Articles and analyses from the INET community on the key economic questions of our time.
Debt-driven Growth: The decade prior to the Great Recession
The recent financial crisis has impressively illustrated the dangers of rapid credit growth in a painful way.
Sinn Advises Greece to Reinstate the Drachma
It is time for Greece to make a daring leap and adopt its own currency, says Ifo President Hans-Werner Sinn. “The drachma should be introduced immediately as a virtual currency,” Sinn said in Munich.
Grexit: The Staggering Cost Of Central Bank Dependence
The ECB has decided to maintain its current level of emergency liquidity to Greece (ECB 2015). By refusing to extend additional emergency liquidity, the ECB has decided that Greece must leave the Eurozone. This may be a legal necessity or a political judgement call, or both. Anyway, it raises a host of unpleasant questions about the treatment of a member country and about the independence of the central bank.
The rise of financialization has led to lower living standards and reduced growth in the U.S.
The last 30 years has seen a massive rise in the importance of financial instruments in the American economy. But what has been the impact of this shift in corporate investment strategy?
Thoughts On Skidelsky's Rant Against The Current Economics Curriculum
The extremely wise Robert Skidelsky has an excellent rant against Anglo-Saxon economics departments
History as Personal Expression — a personal note
Economists and historians of economics have constructed different (and sometimes conflicting) narratives about the past of their field. In fact what is history for economists may not be what is history for historians. To celebrate its 125th anniversary, the Economic Journal invited renowned economists to discuss important contributions published in the past by the journal and the works on similar topics by historians of economics are absent from these accounts. History of economics here seems to have the weight of a JEL descriptor attached to an invited contribution, which we ought to agree that it is not much.
Marxian Economics: The Oldest Systems Theory Is New Again (or Always?)
The best new economic thinking in an age of the dominance of rent-seeking will be Marxian economic thinking
Learning from Karl Polanyi
The old political-economic thinking of Karl Polanyi was never properly absorbed into “mainstream” North Atlantic economics: recognizing that land, labor, and finance are not really “commodities” returns institutions and social processes to the center of economic analysis.
Sir John and Maynard Would Have Rejected the IS-LM Framework for Conducting Macroeconomic Analysis
The Coming China Crisis
Why Understanding Money Matters in Greece
The solutions to Greece’s crisis challenge many existing economic paradigms, including the concept of “money” itself.