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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. 

This episode features grantee D’Maris Coffman of the Centre for Financial History talking about her organization’s commitment to a New Financial History and what the fruits of their approach can tell us about modern debt crises and sustainable debt levels.

So, my new students’ training is essentially about understanding urban “territories” and “societies” through fieldwork. And my contribution is, supposedly, to highlight the economic dimension of all this.

As artificial intelligence reshapes our economy, policymakers must act swiftly to prevent a winner-take-all scenario in the rapidly evolving market for AI foundation models.

The Toxic Textbooks movement devotes energy to curriculum reform as well. Its purpose is to galvanize student protests and “encourage schools and universities to use economics textbooks that engage honestly with the real world.”

Modern monetary theorists ignore how their policies could hurt developing countries

How Germany, the EU and the economics field itself suffer from myopia—and what we can do about it

Some nations have embraced new technologies, while others seem ill-prepared. What accounts for this difference?

In a harrowing new book, scholar Laura Katz Olson pulls back the curtain on a shadowy Wall Street threat that is taking over health care companies – and preying on human lives.

AI was sold as a tool to broaden the marketplace of ideas. Instead, a handful of platforms now control how truth travels, shaping what we see, starving journalism, and locking new AI rivals out of the data democracy needs to survive.

To understand labor productivity—and growing inequality—you have to look at the “dual economy”

Reflections on the Radical Vision of Martin Luther King Jr.’s Last Major Speech

This research project develops an intellectual biography of the Hungarian economist Tibor Scitovsky (1910-2002), who is known primarily for his path breaking 1976 book, The Joyless Economy.

The Institute for New Economic Thinking hosts an exclusive luncheon and conversation with Lynn Parramore, Senior Research Analyst at the Institute and Reuters columnist, and Rana Foroohar, TIME Assistant Managing Editor and Economic Columnist, and Global Economic Correspondent at CNN.