Thomas Ferguson is the Institute for New Economic Thinking’s Director of Research Projects and a member of its Advisory Board. He is Professor Emeritus at the University of Massachusetts, Boston and Senior Fellow at Better Markets. He received his Ph.D. from Princeton University and taught formerly at MIT and the University of Texas, Austin. He is the author or coauthor of several books, including Golden Rule (University of Chicago Press, 1995) and Right Turn (Hill & Wang, 1986). His articles have appeared in many scholarly journals, including the Quarterly Journal of Economics, International Organization, International Studies Quarterly, and the Journal of Economic History. He is a member of the editorial board of the International Journal of Political Economy and a longtime Contributing Editor at The Nation.
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This paper examines the value of connections between German industry and the Nazi movement in early 1933. Drawing on previously unused contemporary sources about management and supervisory board composition and stock returns, we find that one out of seven firms, and a large proportion of the biggest companies, had substantive links with the National Socialist German Workers’ Party. Firms supporting the Nazi movement experienced unusually high returns, outperforming unconnected ones by 5% to 8% between January and March 1933. These results are not driven by sectoral composition and are robust to alternative estimators and definitions of affiliation.
An examination of some little-known ways nation states and central banks prop up megabanks
As part of an International Economy symposium, INET Research Director Tom Ferguson assessed the challenge facing central bankers through the lens of the missing virtues of Dorothy’s travel companions in the Wizard of Oz
Notes from the Institute’s Director of Research on some significant papers and contributions produced in 2016 under the INET rubric
Featuring this expert
The new YSI Political Economy of Europe Working Group will take part in the 2016 CEPS IdeasLab and a subsequent workshop organized by the working group in Brussels.
This conference will bring leading experts and political leaders from Europe and the Americas together to discuss the problems of debt and development in the wake of the Greek drama of Spring, 2015 and the ongoing political and economic turmoil in the Eurozone as well as in South America. It will provide a chance to hear first hand from some of the most influential new voices in the political and economic life of both regions.
These videos cover not only Dr. de Cecco’s seminal research on the international gold standard, but his views on the international monetary system between the wars, the formation of the Bretton Woods system, and its breakdown – all topics on which Dr. de Cecco has written copiously.
The Young Scholars Initiative will be hosting various events and activities in cooperation with the Festival of Economics and the University of Trento in Italy, from May 30 to June 2, 2014.