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Programs for expedited review may be preferentially reducing the development costs for conditions with lesser disease burden, potentially making investments in addressing the most significant disease burdens even less appealing and exacerbating the market failure further.

The History of Economics Society (HES) held four sessions at the Allied Social Science Associations (ASSA) 2013 meeting, in San Diego, Jan. 4-6: “Keynes and the International Monetary System” (co-organized by Robert Dimand and Rebeca Gomez Betancourt), “Writing MIT’s History” (organized by E. Roy Weintraub and having our blog fellow Yann Giraud presenting), “Looking for Best Practices in Economic Journalism: Past and Present” (organized by our blog fellow Tiago Mata), and “Real Business Cycle after Three Decades: Past, Present and Future” (a panel discussion co-organized by Warren L. Young and Sumru Altug).

An excerpt from Revolt of the Rich: How the Politics of the 1970s Widened America’s Class Divide by David N. Gibbs, published by Columbia University Press (2024)

Industry lobbyists vehemently oppose Medicare drug price negotiations. However, physician-scientist Fred Ledley and economist William Lazonick debunk their arguments.

The IPCC was correct in emphasizing the need for early mitigation, but their analysis of possible growth trajectories appears to be faulty.

On this blog, we like to overstate quite a bit our irreverence towards the establishment and in particular our senior colleagues.

A formal argument that Kahneman and Tversky’s compelling empirical findings, and those of other behavioral economists, do not provide a basis for a general approach to specifying participants’ “predictable errors.”

We investigate the claim that the way in which debtor households service their debts matters for macroeconomic performance.

Examining the crucial role of poverty and inequality in shaping household indebtedness.

What should courts prioritize in determining antitrust cases: measurable welfare effects, or the protection of competitive rivalry itself? The Consumer Welfare Standard and the Protect Competition Standard offer different answers.

Why is the IMF getting involved in the Eurocrisis, and why is its involvement taking the form of lending to individual member states of the Eurozone?

This research project provides guidance to policymakers for designing policies that are able to bring economies out of recessions by identifying the best policies to fight unemployment and stabilize the business cycle while alleviating inequality.

Smart Energy

Who gains—and who loses—from global capitalism?

Economist Gordon Lafer describes a race against the education technology industry to do what’s right for America’s kids