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The state has long used law to back private money—with dire consequences, then and now

The INET community mourns Harcourt’s passing

Financial industry donations to members of Congress lead to the adoption of pro-bank policies

While German economic policy makers continue to cling to neoclassical economic approaches, an increasing number of prominent economic figures are starting to accept the failure of orthodox theories to address the current crisis and are expressing the need to rethink fundamental economic concepts.

The practical question in Washington today is not whether regulations will go, but whether anything will replace them

The optimism embedded in the efficient market hypothesis has been one of the main sources of the recent turmoil

As empirical evidence continues to roll in, can the theoretical orthodoxy continue to hold their ground?

The argument that free trade is always the correct policy is based on a flawed welfare analysis. Free trade results in winners and losers and economists are not competent to analyze the impact on well-being as a whole or the spillover social consequences of the discontent of the losers.

Having lunch next to Edward Fullbrook he told me the story of how the post-autistic economic review got its start, leading to what we today know as the World Economic Association and all the great work coming from this community.

Mark Thoma offers a thorough, nuanced take on Roman Frydman’s theory of Imperfect Knowledge Economics (IKE) and George Soros’s ideas on the inability of people to predict the outcomes of financial and social change, which Soros calls “fallibility” and “reflexivity.”

What fraction of total economic growth accrues to the top 10%, top 1%, etc.? How does growth per capita of the bottom 90% compare to overall growth? Zucman discusses his research and efforts to bring more hard data into the inequality dialogue.

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

It was during a year in residency at Tokyo’s Hitotsuabashi University in 1995 that Jim Crotty first “met” John Maynard Keynes.