Thomas Ferguson is the Research Director at the Institute for New Economic Thinking. 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.

By this expert

Worker’s Wages & Leverage Are the Real Targets

Article | Nov 18, 2022

Why did Corporate Democrats “cede” the economic argument? Are they really fighting inflation or trying to weaken workers’ bargaining power? INET’s Thomas Ferguson joins Paul Jay on

Trump and the Republican Base: A Machine Learning Approach

Article | Nov 7, 2022

Economic issues are a primary part of Trump’s appeal to his base

How Inflation Reduction Became Export Promotion

Article | Sep 15, 2022

Thomas Ferguson’s commentary for an INET symposium on the Inflation Reduction Act

2020’s Knife Edge Election: An Analysis

Article | Nov 16, 2021

Covid and BLM protests were key to Biden’s victory

Featuring this expert

Thomas Ferguson's article is featured in the International Economy Magazine

News Apr 28, 2021

“The much-touted “new thinking” on fiscal policy and debt is actually very thin and little of it is new. In the 1990s, economist Luigi Pasinetti clarified the folly of the proposed Maastricht criteria for public finances and forecast the coming disaster with those. Subsequently, many economists, including more than a few working with the Institute for New Economic Thinking, showed in detail how austerity reduces potential output over time and how absurd theories about Phillips Curve trade-offs lead to big underestimates of real rates of unemployment. Running below full employment for long periods blows big holes in public finances and thus piles on debt.” – Thomas Ferguson

Linear Relationship Between Money and Election Outcomes Continued in 2020

Podcasts Feb 16, 2021

INET’s Research Director Thomas Ferguson discusses the latest analysis he and his colleagues have conducted of campaign spending in the 2020 election cycle. The result dispels the myth that money has lost significance and that Republicans were at a significant disadvantage.

Noam Chomsky discusses INET research into money and politics on Jacobin

News Jan 25, 2021

“One place to look always is where’s the money? Who funds congress? Actually, there’s a very fine careful study of this by the leading scholar who deals with funding issues in politics, Thomas Ferguson. He and his colleagues did a study about a year ago a careful study in which they investigated a simple question, “what’s the correlation over the years many years between campaign funding and electability to congress?” It’s almost a straight line, it’s the kind of close correlation that you barely get in the social sciences. The greater the funding, the higher the electability. You can find a few cases here and there that aren’t right on the line, but from the standpoint of social science it’s a remarkable correlation.” — Noam Chomsky, Jacobin