The Vanishing Middle Class


Full Employment, Open Economy Macroeconomics, and Keynes’ General Theory: Does the Swan Diagram Suffice?

Feb 2016

This paper provides critical comments on the Peter Temin - David Vines promotion of the basic Swan Diagram as (1) a policy tool to encourage any individual debtor nation experiencing balance of payment deficits to reduce its exchange rate in order to expand exports and reduce imports and (2) the Swan Diagram as a simple model for understanding Keynes’s General Theory for an Open Economy.


Wealth Inequality in the US and Beyond

Mar 15, 2016

It’s no secret that wealth inequality has grown, both in the US and abroad over the past several decades. What has been particularly notable about the work of Emmanuel Saez is the quantification of that inequality.


Should the state be doing more to fix the economy?

May 13, 2016

What we’re reading: A weekly scan of published items relevant to the Institute’s work