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Consolidation in the dairy industry has created separate, inflexible supply chains for consumers and commercial markets. When COVID killed commercial demand, perfectly good milk and cheese was wasted.

In this conversation with Folashadé Soulé and Camilla Toulmin, Pr Njuguna Ndung’u, a Kenyan economist, Director of the African Economic Research Consortium (AERC), a pan-African organization devoted to the advancement of economic policy research and training in sub-Saharan Africa, and former Governor of the Central Bank of Kenya (2007-2015) analyses how the pandemic creates more fragility in African economies, but also how reforms could be implemented during this crisis; and the urgent need for investment in strong health institutional capacities

Economics and politics go hand in hand, we all know that.

In this interview, Dr. Folashadé Soulé and Dr. Camilla Toulmin discuss with Nanjala Nyabola, a writer and researcher based in Nairobi, Kenya. Nanjala’s work focuses on the intersection between technology, media, and society. She is currently the Director of Advox, the digital rights programme at Global Voices. Nanjala has held numerous research associate positions including with the Overseas Development Institute (ODI), the Oxford Internet Institute (OII), and other institutions, while also working as a research lead for several projects on human rights broadly and digital rights specifically around the world.

During WWII FDR mobilized private manufacturers to support the war effort. To keep Americans healthy, we need to do the same now for medical equipment

How a bleak Christian theology influenced the development of the dismal science

The Institute for New Economic Thinking (INET) and the Open Society Foundations (OSF) announced that OSF has made a gift of $23.5 million to INET. The grant marks the completion of the organizations’ 12-year collaboration.

A better set of approaches for the 21st century.

Sheila Dow and Antonella Stirati bring their scholarly expertise to INET’s research advisory group

Professor Richard Portes discusses the problems of Europe and then specifically drills down into Greece itself.

How big tech barons crush innovation—and how to fight back

INET researchers have continued their innovative work and are finding larger platforms and eager audiences for it.

New Consensus president Saikat Chakrabarti talks about what Biden can do, even without Congress, to make a real difference in the lives of ordinary Americans

In the age of Adam Smith, an economics that masqueraded as natural science and excluded the human condition actually suited the interests of the landed and the wealthy

What did societies and politicians learn from the crash? What have been theoretical achievements in orthodox and heterodox economic thinking since then? Where do we go from here?

The rise of the Knowledge Based Economy and subsequent Data Driven Economy has created a new world in which the basis of wealth and power is derived from control of these intangible assets, alongside creating a new kind of social and political space in which both our public and private spheres are technologically reshaped. The COVID-19 pandemic has accelerated these transformations that permeate our world and has amplified their effects.

By promoting unrealisitc models, economists have become part of problem rather than the solution

Without strong privacy laws and aligned incentives, increased AI competition worsens surveillance, manipulation, and disinformation—threatening privacy, autonomy, and democracy.

The latest meeting of INET’s Commission on Global Economic Transformation addressed the impact of technological change on jobs and society—and how best to harness the power of tech

The latest meeting of INET’s Commission on Global Economic Transformation addressed the impact of technological change on jobs and society—and how best to harness the power of tech

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.

Mention the government and the market and all academic reflection and civilized discussion dissolves into heated monologues. Politicians are an extreme case.

Economics Nobel Laureate Michael Spence discusses the profound changes that are rippling through the global economy as we emerge from the COVID recession, where economic growth will have to rely more on productivity gains instead of the incorporation of excess labor capacity and what this would mean for countries around the world.

In the last years of his life, King was boldly forging a radical, multi-racial movement for economic justice

A discussion with Lance Taylor and Özlem Ömer, authors of INET’s new book Macroeconomics Inequality from Reagan to Trump

Business firms are not alone in making investments in the productive capabilities required to generate innovative goods and services. Household units and government agencies also make investments in productive capabilities upon which business firms rely for their own investment activities.

Rob Johnson interviewed Columbia University historian Adam Tooze in early 2020 about his work on financial history and how it relates to the Green New Deal.

On April 4th, 1967, at a time when the justness and necessity of the Vietnam War was broadly accepted, Dr. King issued a stirring rebuke of the U.S. establishment. He was criticized heavily for challenging US foreign policy; he was told to stick to civil rights.

INET’s President introduces a new research program that challenges orthodox assumptions about the limits of economic knowledge

Professor Marc Egnal of York University joins the Institute for New Economic Thinking’s Lynn Parramore to explore why historians cling to an inaccurate and misleading narrative, and what we can learn from the real history about tyranny, checks and balances, imperialism — and resistance.

The Chicago School’s weakening of antitrust law hurt the economy

The work of feminist thinkers helps illuminate why billionaires seek to solve problems on Earth by blasting into space.

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?

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

The question of underdevelopment and development policies in postwar Europe will be the theme of a workshop organized by Michele Alacevich, Sandrine Kott, and Mark Mazower, at Columbia University, the Heyman Center for the Humanities, Friday, October 10, 2014. The program is available here. Below are some of Alacevich’s insights on the issue leading up the event:

The Bretton Woods conference has a protean character.Talk in the corridors asks “what is it?” Some in the press (lots of press here) believe that deals are being made, the attendance of heavy hitters leads some to believe that consultations and strategies are being outlined for world government (Summers, Stiglitz, Brown, and yesterday Volcker arrived to close the event).

“I was considering what I was going to do, [and] what I decided I could not do, was stay within the confines of mainstream academic economics.” Rob Johnson talks with INET Co-Founder Bill Janeway about his exciting new project at Cambridge University.

Inequality, racism, and violence are the real killers in America.

Richard Vague looks at what it’ll take for the U.S. to win the R&D race

Real Estate Investment Trusts (REITs) are considered “passive” investors and are exempt from corporate tax. But in reality, they play a very active role in reshaping whole industries, like healthcare.

Presented by Professor Dan O’Flaherty at the Institute’s conference on the economics of race in Detroit on 11 November, 2016

Notes from the Institute’s Director of Research on some significant papers and contributions produced in 2016 under the INET rubric 

As a pandemic continues to expose weaknesses in our human systems and institutions, psychiatrist and author Iain McGilchrist’s proposition that a battle in our heads is impacting the direction of our future is worth revisiting.

From political slugfests to classroom battles, historian Marc Egnal talks with INET’s Lynn Parramore about the need for a new approach to our national story.

How orthodox economics paved the way for the political shocks of 2016

Democratic capitalism is an evolving system that responds to crises by radically transforming both economic relations and political institutions. The time for a new phase has come, regardless of whether “responsible” politicians are prepared to admit it.

The bundle of sanctions was initially designed and imposed in haste, with little basis to assess historic performance.

World leaders who are gathering for the APEC summit next week had hoped to be signing the Trans-Pacific Partnership Agreement (TPP). The pact would bring together key Pacific-rim countries into a trading bloc that the United States hopes could counter China’s growing influence in the region.

Given the mounting need to create good jobs, effect structural change, and transform the economy, what should policy priorities be in the digital era? Is there a role for industrial policy? What new policy options do we need to achieve inclusive prosperity?

Morale hazard can turn into a darker ‘moral’ hazard

When working within the same employment spell, female workers, particularly those of color and those working in low-wage service and care jobs, earn significantly less when facing greater volatility than their male counterparts or those working in non-service, non-care occupations.

Research by INET-affiliated scholars shows the US lags far behind its peers on inclusive growth, suggesting inequality is not an inevitable consequence of globalization and technology

How well do our assumptions about the global challenges of energy, environment and economic development fit the facts?

Workshop of the YSI Africa Working Group 

Literary productions offer illustrations of economic theory in action.

This research project uses macroeconomic data going back to the mid-19th century to analyze issues such as the relation between income distribution and economic growth; and how debt, asset prices, and growth moved together the last 160 years.

A report of the Commission on Global Economic Transformation’s subcommittee on Macroeconomics & Finance

Dr. David Mussington, cybersecurity expert with two decades of experience, reveals why the clock is ticking on U.S. vulnerabilities under Trump.

In a new book, How Novelty and Narratives Drive the Stock Market, economist Nicholas Mangee examines the influence of stories on stock market outcomes in an uncertain world.

Rohinton Medhora (INET’s Board Chair, member of our Commission on Global Economic Transformation, and Distinguished Fellow at CIGI) discusses global social healing, India and the G20 with INET President Rob Johnson.

Economist and feminist Victoria Bateman reveals some naked truths about the failings of economics.

We are pleased to announce the program of INET’s annual plenary conference in Berlin.

A new view of stock market instability under Knightian uncertainty

Ruskin scholar Jeffrey Spear, author of “Dreams of an English Eden: Ruskin and his Tradition in Social Criticism,” discusses how the insights of a key 19th-century thinker can help us build a new paradigm for protecting the planet – and save us from ourselves.

Peter Goodman, New York Times correspondent and author of the just-published book, Davos Man: How the Billionaires Devoured the World, talks to Rob about how inequality is not inevitable, but has been engineered through the political process by selling us a false idea of what is possible.

The 5th UNCTAD YSI Summer School provides an opportunity to explore the Challenges and Opportunities of a New International Economic Order. The school will bring together UNCTAD experts, academics, diplomats, and young scholars from across the globe for lively and stimulating intellectual debates.

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 

“You are now leaving the world as you know it.”

The perverted dreams of western modernity and capitalism may be exhausting themselves, says author Eugene McCarraher. And that’s something to be thankful for.

India has for the last twenty years been undergoing a rapid and abiding structural shift in its pattern of development. The transformation of the economy from the period of the license raj to the post liberalization era has wrought many changes, with somewhat ambiguous implications.

VIDEO

This research project proposes to revise common interpretations of 20th-century economic history by unearthing the often overlooked story of tax havens and offshore finance, Eurodollars, and export processing zones between the 1870s and 1980s.

This research project combines interdisciplinary expertise with a wholly unique database on hedge funds compiled by the Foundation for Fund Governance to examine the organization and governance of the offshore hedge fund industry.

How and Why Bankers Still Enjoy a Global Rescue Network

Improvements in data collection create potential for better outcomes for the LGBT community.

In science, empirical disciplines such as physics, chemistry, history, and parts of sociology and political science, reason from facts.

Author Jeremy Lent argues that western conceptual frameworks with roots in the Stone Age push us towards disaster. Time to let them go?

This research project uses information from digitized Google books and library catalogues to create new measures of technological innovation and diffusion for OECD countries from 1850 to the present.

An interview with Dr. Ibrahim Mayaki, CEO of the African Union Development Agency (AUDA-NEPAD)

The INET Taskforce in Macroeconomic Efficiency and Stability, chaired by Professor Joseph Stiglitz, focuses on the inefficiencies and instabilities that arise from the interaction of agents and institutions operating in networks and from pervasive macro-economic externalities, as well as on the macroeconomic inconsistencies that may result from those interactions.

A special note from INET board member john a. powell

“We choose this stochastic structure for computational reasons. This reduces the dimension of the variables. With (such and such) alternative, the computational burden would have dramatically increased.”

In The Measure of Our Age, elder justice expert M.T. Connolly, who served as coordinator of the Department of Justice’s Elder Justice Initiative, offers both a warning and challenge: the systems we rely on to protect us as we age haven’t caught up to our longevity. Good news: we have the tools to build better ones.

Two-day workshop on: Dialectics of Globalism and Nationalism, Inequality and Populism, Agrarian and Urban Crises, Data and Social Justice

Gerald Friedman responds to the Romers on the Sanders Plan.

In the face of  laissez-faire capitalism at home and resurgent nationalism across the globe, INET offers an innovative look at the causes of—and solutions for—the problems that ail a fissuring world economy.

“Equitable COVID19 vaccine distribution is a very important issue of global solidarity”

How do governments accumulate such high levels of debt without constant major crises? Who is paying the price?

The LEPC is a flagship initiative, designed to bring together leading voices in Law, Economics, and Public Policy to engage with complex, real-world challenges in a comprehensive and interdisciplinary manner.

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