Articles
Articles and analyses from the INET community on the key economic questions of our time.
Free Market or Socialism: Have Economists Really Anything to Say?
On the Modern Economic Theory of Incentives, Markets, and Socialism
Repo Madness: Fed Plumbing Gone Awry
Repeat after me: How much pipe should Fed plumbers lay if Fed plumbers like to lay pipe?
The Decline of the US Labor Share Across Sectors
The U.S. economy is increasingly becoming a dual economy, where high productivity sectors—such as manufacturing—and high pay sectors—such as finance and professional services—co-exist with low pay and low productivity sectors that employ most workers.
Not So Modern Monetary Theory
Secular Stagnation: The Limits of Conventional Wisdom
Summers and Stansbury mark a dramatic shift from New Keynesian orthodoxy, but only make it halfway to understanding the demand-driven nature of stagnant growth
Kalecki, Minsky, and “Old Keynesianism” Vs. “New Keynesianism” on the Effect of Monetary Policy
Mott walks us through answers many careful readers of Kalecki, Keynes, Steindl, and Minsky knew all along.
Summers and the Road to Damascus
The Sacrificial Rites of Capitalism We Don’t Talk About
Author Supritha Rajan argues that self-interested competition may be the official line, but it’s far from the whole story
Developing Asia Needs a New Economic Paradigm
Inadequate demand and climate change require a global green new deal
After Over Three Decades, Rebel Economist Breaks Through to Washington. Here’s How He Did It.
The idea that businesses are run to maximize profits for shareholders is just plain wrong, says William Lazonick
How Media Workers are Organizing in the Dual Economy
With journalism moving from a stable to a precarious profession, digital media workers have become some of the most organized in the startup world
Coding Private Money
Modern Monetary Inevitabilities
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.