5810 Results for “ https://www.galaxus.ch/en/sector/showdiscussion/snap-hack-online-visit-kunghaccom-d2d1mo9k-226342”

With growth fueled by an increase in debt, Argentina is facing an uncertain economic future, despite investors’ generally rosy view. The government of Mauricio Macri has options to address the country’s macroeconomic risks, but none of them will be free of tough choices.

The combination of technological disruption and economic globalization have resulted in stagnating wages, middle class job losses, and declining labor power in many developed countries. How did this happen and how could we respond?

Facebook engaged in an elaborate bait and switch on user data: Privacy disappeared when competition did. Laws governing competition could change that.

The Economist pays tribute to Hyman Minsky, whose ideas on financial instability have not been given the attention and prominence they deserve

In a memo for the G20, INET calls for changes to the evaluation of economic research to ensure that economic theory—and policy—is more rigorous, innovative, and in service to society. 

INET experts discuss how financialization has driven up costs of healthcare—and how we can stop it.

A light-hearted economic analysis of the World Cup

The Center for Economic and Policy Research (CEPR) was established in 1999 to promote democratic debate on the most important economic and social issues that affect people’s lives. In order for citizens to effectively exercise their voices in a democracy, they should be informed about the problems and choices that they face. CEPR is committed to presenting issues in an accurate and understandable manner, so that the public is better prepared to choose among the various policy options.

The money to support well-paid American jobs exists—it’s just being hoarded at the top. Economist William Lazonick argues that this is not just unfair; it’s a failure of the whole economic system.

Personal connections are key to understanding concentrations of wealth and power

“When Texas and nine other states filed an antitrust lawsuit against Google last week, the complaint identified many of the same conflicts of interest as Ms. Srinivasan’s paper, Why Google Dominates Advertising Markets” in the Stanford Technology Law Review. The lawsuit said Google controlled every part of the digital advertising pipeline and used it to give priority to its own services, acting as “pitcher, batter and umpire, all at the same time.” … “Marshall Steinbaum, an assistant professor at the University of Utah’s economics department, wrote on Twitter that Ms. Srinivasan’s articles on Google and Facebook had a greater influence on the recently filed antitrust cases than all the other research about those companies or tech in general by traditional economists focused on competition policy.” — Daisuke Wakabayashi, New York Times

NY Times (12/1/2024) & Rolling Stone (12/3/2024)

It is a shame that Greece was unable to manage its finances and is now slipping into chaos. But this outcome was inevitable and could not be permanently averted with loans from the international community.

Introduced by the AMA in 2001, Category III CPT codes aimed to streamline financial reporting. Instead they became entangled in a politically driven, zero-sum reimbursement game.

“If companies continue to prioritize maximizing shareholder wealth at the expense of other key stakeholders, and at the expense of investing in innovation, then the Green New Deal could reinforce long-standing income and wealth inequities and the decline in innovation in the U.S. economy (for an important example, Bill Lazonick and Matt Hopkins document how maximizing shareholder value minimized the strategic national stockpile for ventilators and personal protective equipment).” —Lenore M Palladino

What does economic inequality look like when we account for gender identity, sexual orientation, and lived experience?

The effect of monetary policy on the functional distribution of income

Modern monetary theorists ignore how their policies could hurt developing countries

“The gap between the “technology haves and have nots” in the corporate world is widening. A recent study also found that this gap is widening between rich countries and poor countries. When few companies have access to 3D printers, robots, or cutting-edge AI, there are fewer actors to leverage such technologies to the point at which productivity will increase across the board.” — Wim Naudé, The Conversation

The most essential work in society isn’t accounted for in economic statistics.

The idea that businesses are run to maximize profits for shareholders is just plain wrong, says William Lazonick

Evidence from Insider Trading in Banks

As automation takes on more routine tasks, work will become more about creativity, ethics, and empathy

Journalist Andrea Gabor’s new book heralds a “quiet revolution” in education you didn’t know was happening

Hannah Farber discusses her book and explains how the insurance business and the United States discovered that they were good for one another.

Fredrik Albritton Jonsson and Carl Wennerlind reveal how centuries of belief in infinite growth on a finite planet have put us all in danger

The richest Americans control $46 trillion in wealth—but many pay little or no federal tax.

Financial Times columnist and author Rana Foroohar talks about her new book Homecoming: The Path to Prosperity in a Post-Global World

The third and final round of response from Andrew Smithers on Lance Taylor’s INET working paper on the alleged “global savings glut.”

The TPP is dead, as is the assumption that future free-trade agreements can be negotiated by experts alone

Less capital, more risk, familiar consequences. The latest move on big-bank rules suggests that too big to fail was never solved, only deferred.

Destin Jenkins, Assistant Professor of History at the University of Chicago, discusses his book on municipal debt and its role in fostering racial capitalism in American cities.

How do we build communities that actually work for people?

Struggles over shadow money today echo 19th century struggles over bank deposits.

A Global History

“Larger dairy farms inevitably mean a system less geographically dispersed, larger environmental challenges with farm waste, and a less resilient system. The Institute for New Economic Thinking detailed these impacts in a recent report on the pandemic’s effects on dairy farmers, Spilt Milk: COVID-19 and the Dangers of Dairy Industry Consolidation: “The COVID-19 pandemic led to the collapse in commercial demand as restaurants, caterers, schools and other institutional customers were forced to close. Dairy plants serving supermarkets and grocery stores were already operating at close to full capacity when the coronavirus struck. Capital equipment specialized to produce for commercial customers were incapable of producing for consumers served by supermarkets or food banks. Some farmers had no choice but to dump milk.”[9] For the smaller dairy farmers, international (primarily Canadian) competition and price fluctuations are daily economic challenges.” — Charles Luke, Homeland Security Today … [9] Eileen Appelbaum and Jared Gaby-Biegle, “Spilt Milk: COVID-19 and the Dangers of Dairy Industry Consolidation,” Institute for Economic and Policy Research, August 15, 2020, https://www.ineteconomics.org/uploads/papers/WP_134-Appelbaum-and-Gaby-Biegel.pdf

Washington Monthly

Universities have always been centers of learning—and centers of power.

From feudal land rights to intellectual property in the modern era, lawyers have been battling over capital for centuries. Typically leveraging social resources to generate and protect private wealth.

Black women are forfeiting $50 billion/year in the US due to the combined gender and racial wage gap.

As America marks 250 years of independence, Adam Smith is again being pressed into service as a founding myth. A deeper reading of The Wealth of Nations reveals a far richer thinker than today’s easy invocations of markets and liberty suggest.

Patrick Bond, sociology professor at the University of Johannesburg, South Africa, discusses the urgent need for climate reparations for Africa, in light of the COP26 climate summit, and why market solutions will not work to address the problems Africa is currently facing. Part 1 of 2.

Finance for the Rest of Us

What happened to the dream? Rob talks with David Smick about his new film and the inspiration for the project.

Expert warns that without more robust abatement measures and testing, the virus could rage until mid-2022.

The tradition of abandoning our elderly populations needs to end. Sarita Mohanty talks with Rob Johnson about her work at the SCAN Foundation, and the critical importance of combating “ageism” to strengthening our society. Learn more: https://www.thescanfoundation.org/

“Economic opportunity was further restricted by individual and institutionalized racism and political disenfranchisement. Discrimination in hiring by employers and intimidation of black workers through violence placed black workers at a direct disadvantage in the labor market,” Trevon Logan Peter Temin wrote in “Inclusive American Economic History: Containing Slaves, Freedmen, Jim Crow Laws, and the Great Migration,” a working paper written for the Institute for New Economic Thinking.” — Coastal Review

Besides changes in institutions and social norms, other phenomena could explain a rise in the profit share.

Boston Globe

How do we prepare for a world of constant shocks—climate disasters, financial crises, pandemics, conflict, and inequality?

Here’s the breakdown on what’s really driving America’s runaway drug prices — and whether any of the current plans stand a chance to lower your pharmacy bill.

Distinguished Scholars Including Larry Summers and Adair Turner Present Evidence of the Trend and Policy Solutions

Andrew Sheng, Distinguished Fellow at the Asia Global Institute, University of Hong Kong, talks about the love-hate relationship between the US and China and how both sides must learn to cooperate to address the world’s most pressing problems

Overcoming Anti-Urban Bias to Reduce Inequality in the United States

Cowdery brings his expertise in business, foundations, and publishing to INET

“Consider the following point made by Institute for New Economic Thinking executive director Rob Johnson during a recent interview when asked about Medicare for All: “Public opinion polls show more than 70 percent of the population is in favor of Medicare for All. It’s not the population that doesn’t want it, and they’re the ultimate voters. It’s vested interests and the struggle that has to do with the relationship between money-raising campaign war chests and the probability of re-election and what you might call the refractory influence of the mainstream media, where pharmaceutical companies in particular and insurance companies as well are very big advertisers.” — Luke Savage, Jacobin

Times Now News features and quotes Rob Johnson’s presentation at the Global Business Summit in India.

Union membership is at its lowest level in a century. Why, despite viral organizing campaigns at Amazon and Starbucks, has union density flatlined?

Matt Stoller, Director of Research at the American Economic Liberties Project and author of Goliath: The 100-Year War Between Monopoly Power and Democracy, talks about the many ways in which the US economic system has become rigged to favor the richest.

Research by INET grantees Atkinson, Casarico and Voitchovsky shows that women are starkly underrepresented in top earning brackets across a range of different countries

Phenomenal World

Connecticut is the first state to fund and enact a baby bonds program, inspiring more states to create their own plans. Can it make a difference?

I’ve already blogged on how undergraduate education evolved at MIT in the postwar era here and here, but since Mike Konczal and Paul Krugman make the case that, to bring introductory economics closer to the real world, macro should be taught before micro as Samuelson did in the first 13 editions of his Economics textbook, it may be worth returning to it.

The latest meeting of INET’s Commission on Global Economic Transformation addressed the flaws in existing macroeconomic and financial models—and explored solutions to foster shared prosperity

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

William Janeway: Venture Capital in the 21st Century: ‘In this eight-part lecture series, Bill Janeway investigates the relationship between venture capital and technological innovation, and the interdependent roles of entrepreneurial firms, the mission-driven State and financial speculation in the overall innovation system… LINK: https://www.ineteconomics.org/perspectives/videos/venture-capital>

Economist Alicia Girón explains why a feminist perspective is crucial to new economic thinking.

Europe’s revamped fiscal rules promise discipline and stability, but Italy’s numbers tell a different story. Once realistic multipliers and hysteresis are built in, consolidation pushes debt up, growth down, and recessionary pressure outwards across the eurozone, hardly a recipe for sustainability.

Reinterpreting Bagehot’s mature work as the origin of the key currency tradition

Last Thursday, the Fed announced its anticipated third round of balance-sheet expansion, at a fixed rate of about $40B per month “until [substantial] improvement [in unemployment] is achieved in a context of price stability”.

As the world grapples with rapid technological advancements, demographic shifts, environmental challenges, and governance transformations, new forms of inequality are emerging.

Industrial journalist Ken Jacobson and economist William Lazonick (both of the Academic-Industry Research Network), call for an end to stock market manipulation through buybacks.

Ten years after Lehman Brothers’ collapse, the Wall Street casino is running amok

Contrary to the New Keynesian paradigm, long-term unemployment can be reversed without a significant uptick in inflation

Nicholas Mangee, associate professor of finance in the Parker College of Business at Georgia Southern University, begins How Novelty and Narratives Drive the Stock Market with a statement that encompasses the problem he tackles and the compelling reason for investor interest in the new-style thinking that addresses it. This detailed stock market study attempts to extend Nobel Prize-winner Robert Shiller’s development of narrative economics, albeit Mangee’s focus is on novelty information embedded in textual news narratives. Using a set of text-based indices to capture the uncertainty and ambiguity in unscheduled news, Mangee measures the impact of news narratives on equity behavior.

For women discussing economics, it’s still easier to be seen than heard

Adair Turner in conversation with Nasser Munjee, moderated by David Webb

Please join us for a discussion with Geoff Mann, INET Senior Fellow and author of Climate Leviathan: A Political Theory of Our Planetary Future, on how the coronavirus pandemic might (or might not) teach us to prepare for a life on an increasingly hot planet.

I am late to the party on the inventive use of copper by Chinese companies seeking alternative sources of funds.

Paying tribute to one of the world’s most distinguished economic historians.

The Institute for New Economic Thinking responds to an evident need for innovative approaches to understanding economic and financial processes.

Max Lawson, head of Oxfam International’s Inequality Policy program, discusses Oxfam’s latest inequality report, “Inequality Kills,” which highlights the extreme growth in wealth of the billionaire class during the pandemic and how this has had a direct effect on the health and survival of the world’s bottom 50%.

INET’s new data archive of historical political finance records at the National Archives assembles all campaign finance reports filed by political parties and presidential candidates up to 1974, the year before the Federal Election Commission was established.

Reactions to the size of the proposed plan rely on discredited assumptions and betray a fundamental misunderstanding of economic growth—and austerity 

Everyone is waking up to the fact that estimates of what is possible in the economy are way off: this paper explains why

Naomi Klein discusses her new book, No Is Not Enough: Resisting Trump’s Shock Politics and Winning the World We Need.

Andrew Smithers responds to Lance Taylor’s rebuttal.

On the reflexive relationship between inflation and inflation narratives

America’s new “philanthrocapitalists” are enabling social problems rather than solving them

Understanding India’s Northeast from Emerging Perspectives

Back in 2008, a critical opportunity was missed when the burden of post-crisis adjustment was tilted heavily in favor of creditors relative to debtors. The result was not only prolonged stagnation, but also the Republican Party’s embrace of demagogic populism and the election of Donald Trump.

National States and Conflicting Economic Priorities in the Making of the European Monetary System

Over the next year, the Bitcoin price could double, soar tenfold, or collapse by 95% or more, and no economic analysis can help predict where in that range it will lie. Like other cryptocurrencies, Bitcoin serves no useful economic purpose, though in macroeconomic terms, such currencies probably also do little harm.

All things can be coded as capital, with the right legal coding.

Scholar sees Institute for New Economic Thinking conference as an important opportunity to discuss issues of race and economics, and of Detroit’s past and future 

“The “go-hard/go-early and no regrets” approach of the Australian states has been vindicated by the Institute for New Economic Thinking (INET), a nonpartisan, nonprofit organisation established in the wake of the 2009 global financial crash.” …. “We must be ready to accept renewed restrictions, targeted shutdowns and border closures. As the INET report clearly demonstrates, the failure to act is much more costly than any temporary measures, such as those used in South Australia last month.” — Dennis Atkins

Immanuel Ness critiques the belief that migration drives economic development, revealing how it often merely aids survival and perpetuates exploitation.

Efforts to erase race-conscious policies threaten broader equality initiatives.