Till van Treeck is a professor at the Institute for Socio-Economics (IFSO) and the University of Duisburg-Essen. During the academic year 2021/22, he is the Theodor Heuss Visiting Professor at the New School for Social Research, New York. His main research interests are: Macroeconomics of income distribution, comparative political economy, and economics education.
Till van Treeck
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Keynes promised shorter working hours and greater prosperity by now. As remote as it sounds, that vision is still possible.
The inequality of income and wealth is one of the defining issues of our time, in terms of both its social and macroeconomic implications. In this article, I focus on the macroeconomic implications of inequality. In particular, it is possible to identify four themes on which there seems to be growing consensus among many economists especially in the various heterodox traditions, but also increasingly in the mainstream of the economics profession:
Household economic surveys, such as the German Socio-Economic Panel, notoriously underestimate the degree of income and wealth inequality at the upper end of the distribution.
The Research Network Macroeconomics and Macroeconomic Policies (FMM) organises its 18th annual conference on Inequality and the Future of Capitalism with introductory lectures on heterodox economics for graduate students.
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INET gathered hundreds of new economic thinkers in Edinburgh to discuss the past, present, and future of the economics profession.