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The pandemic has caused havoc to the world’s health and economy, worsening inequality and disparities already disrupted by geopolitical rivalry, climate change, financialization and technology. Health, wealth and self are entangled in anger over rising inequality and temperatures.

This research project improves our understanding of the effects of intellectual property rights—and in particular copyrights—on creativity and innovation.

In this paper, we deal with the complex relationship connecting inequality to innovation, and the ways through which public investment, in particular public participation to R&D initiatives, may affect it. We first stress that multiple different equilibria may exist in the inequality-innovation space.

This research projects aims to understand Buddhist thinking in rational choice terms and apply that to some important contemporary economic problems.

New book by Sarah Chayes reveals the country’s descent into a level of corruption usually associated with places like Nigeria and Afghanistan

Alessandro Roncaglia has mulled the topic of power over his long and distinguished career – a topic most economists avoid. His new book explores the historical dynamics of power and asks how we can change its distribution today.

Inclusive development especially the role of employment opportunities in a changing world of work and the environment in envisioning inclusiveness

Affordable medicines remain out of reach for millions because pharmaceutical innovation is organized around value extraction, not public health. How do shareholder-driven governance and fragmented global health financing reinforce inequity, and what structural reforms are needed to reverse it?

Peter Conti Brown’s new book explores and debunks a powerful meme shaping public understanding of the role of the Fed

Claudia Sahm dares to call out systemic bullying and harassment that drives out talent and compromises science. Perpetrators are not happy.

Keynes passed away 70 years ago today, with his copyright now expiring, there is an opportunity to build a digital archive of all his work

In a significant new study published by the Institute for New Economic Thinking, Canadian economist Mohsen Javdani reveals that gender shapes views on power, equality, and inclusion in ways politics alone can’t explain.

New topics and approaches make their way into two recent conferences on the history of economics

This research project investigates the reasons behind the US financial crisis by applying the tools of the history of economic thought to the postwar evolution of US antitrust law and economic

Creating the post-2008 global safety net for mega-banks

Hughes discusses his recent book Marketcrafters, and how markets are deliberately built with outcomes that can serve the public good – or not. He uses this lens to unpack today’s economic flashpoints, from the Fed to crypto to climate.

HCEO’s new three-question series will regularly publish quick Q&As with members who will discuss their work, frontiers in the field of inequality that could use more knowledge, and advice for emerging scholars.

The Institute for New Economic Thinking (INET) and the World Economic Forum today announced plans for closer collaboration to foster new approaches to economic thinking.

INET is pleased to announce that Roman Frydman, Chair of INET’s Program on Imperfect Knowledge Economics, has published a book with Edmund Phelps, 2006 Nobel laureate and Director of the Center on Capitalism and Society at Columbia University, Rethinking Expectations: The Way Forward for Macroeconomics (Princeton University Press).

New economic thinking is no passing fad. The movement for new economic thinking is here to stay - with broad-based, worldwide support from undergraduate and graduate students as well as both young and established professors and Nobel laureates.

The financial and economic crises started by the fall of Lehman Borthers came as a big shock, a financial shock, an economic shock, a psychological shock, and a political shock among others.

One of America’s leading socialists discusses how a collectively owned economy would be structured, the limits of the welfare state, and what Keynes understood that Marx didn’t

For thirty years after the Civil Rights Act, a sizable share of white Southerners still voted Democrat. That changed when the party embraced trade deals that hurt American workers.

Economic distress in rural areas and opioid exposure in cities are key indicators of overdose deaths

The National Institute of Public Finance and Policy (NIPFP) in collaboration with the Institute of New Economic Thinking (INET) are organizing India’s first “Law Economic Policy Conference (LPEC 2016)”. The aim is to bring together economic, legal and policy thinkers together to consider policy issues in a holistic manner.

The YSI Gender and Economics Working Group will host a workshop during the pre-conference of the 27th IAFFE Annual Conference. Members of the Gender and Economics WG will also be welcomed to take part in the workshop and mentoring activities organized by IAFFE in the pre-conference.  

INET Grantee & Academic Advisor Perry Mehrling talks about his new book “Money and Empire: Charles P. Kindleberger and the Dollar System”

Restoring faith in governance and public action is itself a public good that would prepare us for a whole myriad of challenges on the horizon

Can education stop the country’s backward slide?

An interview with the Industrial Development Advisor in the Office of the Director-General of the South African Department of Trade, Industry and Competition (DTIC).

Former Deputy Chairman of India’s Planning Commission, Montek Ahluwalia, and Nobel Laureate Michael Spence discuss Ahluwalia’s book BackStage: The Story Behind India’s High Growth Years, and explore the challenges for the developing world more generally.

The short answer is yes. For the long answer I will make you sit through seven paragraphs.

Perry Mehrling’s new book traces the rise of the dollar through the life and career of influential economist Charles Kindleberger

Containing Slaves, Freedmen, Jim Crow laws and the Great Migration

In the future, how will work be different, what jobs are most at risk, what jobs are likely to grow?

Can society continue its long-run trajectory and commit to institutional, legal, social, fiscal, and educational systems that can advance equality?

US regulators can step in to ensure drug pricing both supports patient access and drug development

The Kauffman Foundation provides access to opportunities that help people achieve financial stability, upward mobility, and economic prosperity – regardless of race, gender, or geography.

Dr. Phillip Alvelda tells INET’s Lynn Parramore about persistent political and public health failures exposing us to devastating diseases, while vastly underestimating their long-term health effects.

New mandates must beget new organizing

This note comments on Eric Weinstein’s, “How and Why Government, Universities, and Industries Create Domestic Labor Shortages of Scientists and High-Tech Workers,” posted recently on INET’s website.

A Nobel Prize-winning economist and the second-most-famous democratic socialist in America sit down together

Austerity measures have battered the region and created instability throughout the Eurozone. Here’s one way out of the mess.

The Ukrainian government has committed to implement far-reaching reforms in exchange for the support it is getting from the international community, led by the International Monetary Fund (IMF). Understandably, given Ukraine’s disappointing transition history, there is widespread scepticism on whether the country will live up to its commitments. Three failed IMF programmes later, the fundamental question is: Is it different this time?

On the reflexive relationship between inflation and inflation narratives

The history of the political relations between Hitler and the NSDAP leadership and the German “coal industrialists” from 1926 to 1933

Researchers reveal the enemies to stability and prosperity that threaten us all.

Trying to predict the financial future is a fool’s errand, even for a genius

Author Supritha Rajan argues that self-interested competition may be the official line, but it’s far from the whole story

How economists turned to the study of collective decision-making after World War II, faced many impossibilities, and lost interest after solving them

Our usual problem in history (of economics) is a lack of information.

Medicare negotiators need to have a deep understanding - both theoretical and empirical - of the learning processes involved in developing a drug to negotiate a price that is fair.

This paper examines in detail the interrelationships between the EU’s concerns, its energy policies, and the resulting challenges and uncertainties facing European gas through the rest of the decade, and beyond.

The (very) recent rise of quantitative analysis in history of economics working papers calls for a closer examination of the prospects and limitations of this approach, and of the impediment to its large-scale development.

Venture-backed “tech capital” is reshaping U.S. politics through campaign finance, platform gatekeeping, defense/AI procurement, and policy entrepreneurship. In an interview with Nick French, INET’s Research Director Thomas Ferguson discusses these channels of influence, examining their macro-distributional consequences, and outlining guardrails to restore democratic accountability and broadly shared gains.

Corporate responsibility needs to evolve if businesses are going to rebuild trust and provide real value for society.

What That Means For Biden’s Inflation Policy Trilemma

John Kenneth Galbraith noted in 1973 that establishment economics had become the “invaluable ally of those whose exercise of power depends on an acquiescent public.” If anything, economists’ embrace of that role has grown stronger since then.

What can emerging economies learn from the financial meltdown in advanced economies?

Most sociologists believe that formal and informal institutions are more critical in explaining the rising inequality observed in advanced economies. In this light, changing institutions such as the ascendance of shareholder-centered corporate governance model, finance-friendly policies since the late 70s, credentialism, and deunionization all contribute to the earnings dynamics at different parts of the distribution.

Honorary Vice President at IMANI Center for policy and education, Bright Simons, on the challenges Ghana is facing

Donald Trump’s presidency is a symptom of an interregnum between economic orders – a period that will result in a new balance between state and market. While his administration’s economic policies are unlikely to provide the right answer, they may at least show the world what not to do.

Summers and Stansbury mark a dramatic shift from New Keynesian orthodoxy, but only make it halfway to understanding the demand-driven nature of stagnant growth

Inaugural conference addresses pressing issues around emerging technologies’ impact on economies and communities

What is the relationship between pluralist economics and interdisciplinary socio-economics? How does pluralist academic teaching need to be structured in economics or business administration in order to be successful? What should interdisciplinary socio-economic study programs look like, and how should teacher training in the field be designed? What kinds of new study materials, textbooks, and teaching methods are required?

Veteran researcher sheds light on what’s going on, how long the pain might last, and possible paths forward.

Jonathan Haidt deploys insights from moral psychology to help us see ourselves and each other more clearly

From physicists to engineers to meds to plumbers: thoughts on Esther Duflo’s ASSA 2017 lecture on rediscovering the last art of economics

Central bankers pursue a “neutral” rate that doesn’t exist

Europe’s social media crackdown is less about “speech wars” than a long-overdue attempt to price the public damage created by large platforms.

Patrick Honohan, Governor of the Central Bank of Ireland, discusses the Irish banking crisis.

A few days ago, I began researching on the history of a subfield of economics which was born in the sixties, then thrived and institutionalized itself in the early seventies.

The History of Economic Thought and the Philosophy of Economics working groups are organising a Young Scholars Workshop on the methods and approaches to the history of economics that have consolidated during the last two decades.  

The vision of Dr. Martin Luther King Jr. 50 years later, and the relevance of his economic ideas today

The theoretical approaches to analyzing crises have behind them contrasting conceptions of the way the economy works

China is now the world’s largest greenhouse-gas emitter, accounting for over 25% of the global total. But the country has also demonstrated a growing understanding that a truly green economy promises to improve quality of life and create enormous opportunities for technological and political leadership.

The 2008 financial crisis was a shock to faith in entirely free financial markets. But the neoliberal assumptions underlying the previously dominant “Washington Consensus” continue to inform much Western commentary on China’s economy.

The big question in Asian countries right now is what lesson to take from Donald Trump’s victory in the United States’ presidential election, and from the United Kingdom’s Brexit referendum, in which British voters opted to leave the European Union. Unfortunately, the focus is not where it should be: geopolitical change.

With the publication of Thomas Piketty’s Capital in the 21st Century, the American public has become increasingly concerned about the scale and impact of inequality in economic life.

Comparing outcomes for biological and adopted children sheds light on the intergenerational transmission of wealth.

A recent e-mail conversation I had with Harro Maas concerning one of my latest drafts (shameless self-promotion) made me buy and read Naomi Oreskes and Erik Conway’s, Merchants of Doubts.

YSI is hosting sessions at the 2018 STOREP conference.

Kristen Ghodsee discusses her research on how love and relationships function under socialism and capitalism, and what economists miss about the rise of right-wing populism in Eastern Europe

The INET roundtable on “new conversations and the academy” took place a week ago. Most panelists were bloggers, including Mike Konczal from RortyBomb and Noah Smith from Noahopinion.

Times have changed. Now we have David Brooks, of The New York Times, and economics blogger Noah Smith defending neoliberal globalization from the pincer movement of anti-trade populists from both the right and the left.

The energy transition is happening. But the pace of change depends on a range of technical, business, and societal factors.

To make start-ups work for everyone, we need to put power back in the hands of workers.

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

Until 2008, rising home values gave the middle class a cushion amid growing income inequality. But following the financial crisis, that wealth has failed to return.

The degree to which economics is isolated from the ordinary business of life is extraordinary and unfortunate.

Ever since 2016, INET researchers confirmed the significance of economic issues in Trump’s ascendency.

Open-ended polling responses reveal considerably more complexity – and more ambivalence and negativity – in Americans’ views of international trade than has been inferred from widely cited closed questions

The Volcker Alliance has launched a series of new papers with important proposals for reforming financial regulations to guard against future crises 

With the approval of the reform proposals by the Greek government, the Eurozone has returned to calmer waters. But it is only a brief interlude.