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

Mariana Mazzucato talks with Rob Johnson about her new book, The Mission Economy, and what we need to do to make innovation work for global shared prosperity.

New economic engagements with India.

Does general equilibrium theory sufficiently enhance our understanding of the economic process to make the entire exercise worthwhile, if we consider that other forms of thinking may have been ‘crowded out’ as a result of its being the ‘dominant discourse’? What, in the end, have we really learned from it?

As the Nobel laureate economist Robert Solow noted in 1987, computers are “everywhere but in the productivity statistics.” Since then, the so-called productivity paradox has become ever more striking. Automation has eliminated many jobs. Robots and artificial intelligence now seem to promise (or threaten) yet more radical change. Yet productivity growth has slowed across the advanced economies; in Britain, labor is no more productive today than it was in 2007.

The world-renowned development economist Jeffrey Sachs outlined a new framework for US-China relations in conversation with INET President Rob Johnson

“The landscape of EM has consolidated into a few corporate conglomerates, which are oligarchies with iron grips on contracts through noncompetitive or illegal collusions with large hospital systems in the form of kickbacks. (Institute for New Economic Thinking. March 15, 2020; https://bit.ly/34fLeMD.) This has effectively castrated any hope for independent practices to thrive and injected many wrongful consequences into EM.” — Rizvi, Saba MD, Emergency Medical News

Financial Globalization and its Cryptocurrency Discontents

Deutschlandfunk

Climate scientist Michael Mann discusses his new book, The New Climate War, in which he outlines the many ways in which powerful interests deflect, divide, and delay, to prevent real action that would avert the climate crisis

This article originally appeared on Bloomberg

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

The Political Economy of Debt

What That Means For Biden’s Inflation Policy Trilemma

“Anyone with a pulse knows that in the US today the system is rigged in favour of the wealthy and powerful. One particularly illuminating paper published this month by the Institute for New Economic Thinking quantifies the problem. Building on a persuasive 2014 data set, it shows that when opinion shifts among the wealthiest top 10 per cent of the US population, changes in policy become far more likely. Using AI and machine learning, INET academics Shawn McGuire and Charles Delahunt delved deep into the data. They found that considering the opinions of anyone outside that top 10 per cent was a far less accurate predictor of what happened to government policy. The numbers showed that: “not only do ordinary citizens not have uniquely substantial power over policy decisions; they have little or no independent influence on policy at all”.” — Rana Foroohar, The Financial Times

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

Cross posted from Thursday, February 28, 2008’s broadcast of Democracy Now!

The tail risks that may be generated by Mario Draghi’s monetary policy innovations in the Eurozone include even more intense versions of Andrew Haldane’s “Doom Loops”

A summary of INET’s latest Future of Work episode

The education of the next generation of economists too often ignores the real crisis we face today: climate change, inequality, and financial instability. Sam de Muijnck and Joris Tieleman seek to address this problem in their book, Economy Studies, which outlines a practical road map for effectively connecting pluralism of core academic material to real world events, values, and the great questions of our time.

We continue to learn about what the Fed did during the crisis.

Preface to the Japanese Edition of Golden Rule

INET Global Commission to collaborate with Pope Francis and Scholas Occurrentes on bringing the voices of young people into the economics profession

There is a mix of common-sense opinions, political prejudices, conventional business practice, and pragmatic rules of thumb, supported in an ad hoc, opportunistic way by bits and pieces of economic theory.

With journalism moving from a stable to a precarious profession, digital media workers have become some of the most organized in the startup world

“Calculations by Phillip Alvelda, Thomas Ferguson and John Mallery, which have just been published by the Institute for New Economic Thinking, suggest how scary the choice between life and business is in the corona crisis . A comparison of all possible countries and strategies over the past year then gave a fairly clear picture: Those who consistently aimed to stop the epidemic through hard lockdowns have significantly fewer deaths - even if they initially suffered greater economic damage; while it is with countries like the UK it was exactly the opposite, which initially hesitated with the lockdown and raised all the more money to avoid economic damage. With the fatal result that precisely because of this, the second wave became all the more violent - and economic output collapsed in the end. Conclusion of the study: The more negligent governments allow the pandemic to work in order not to harm the economy, the more the economic costs will pile up over time and ever new waves. Almost no matter how hard these rulers and central bankers try to counter it with economic stimulus programs. The damn virus finds activity between people (also economic) pretty good.” — Thomas Fricke

Columbia University’s renowned economist Jeffrey Sachs talks about the lessons he has learned from consulting with governments around the world, about how global problems, such as the war in Ukraine, will only be solved via efforts to understand the other side, never through force.

Bill Mitchell presents a coherent analysis of how money is created, how it functions in global exchange rate regimes, and how the mystification of the nature of money has constrained governments, and prevented states from acting in the public interest.

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?

William Janeway’s Far-Ranging Seminar on Fundamental Debates in Innovation and Finance

AI is powered by more than algorithms – underneath is a flawed, decades-old corporate operating system that redirects gains away from workers. The good news: It doesn’t have to be this way. Part of “AI and the Future of the American Worker,” a series on how artificial intelligence is impacting labor, power, and the meaning of work.

Public policy researcher and writer Seth Klein discusses his new book, A Good War: Mobilizing Canada for the Climate Emergency, which looks at the example that the mobilization for World War II sets in terms of mobilizing society and resources for coping with an emergency.

A panel discussion with Professor Jonathan Wolff (Blavatnik School) and Dr. Craig Holmes (Pembroke College, INET).

The key issue is the regulation of the liquidity of all financial markets, and not just that of the banking system

The New York Review

Unlike the Great Recession, the pandemic has hit women workers harder than men, and disproportionately hurt the job prospects of lower education workers.

Anand Giridharadas, writer and author of the book, Winners Take All, discusses the multiple crises we are currently facing, how they could provide an impetus for real change, and how US and global elites are failing to live up to the challenge.

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.

Why do economists avoid ethics, and over-simplify harm?

Economics can do better, and the change starts with you.

The Institute for New Economic Thinking, a global network of distinguished economists, is deeply concerned by the news of proposed legislation in Hungary’s National Assembly that would prevent the free functioning of the Central European University.

Charles Ferguson’s Inside Job forces us to fundamentally rethink the connections between economics and policy making.

The shocking—but illustrative—example of how an Italian government agency concocted statistics to evaluate scholarship, hid them from the public, and masqueraded them as science. It’s a growing phenomenon

Five lessons from the last crisis — for managing the next one

Dr. Ming Lin complained about Covid-19 safety measures at his hospital. He got fired because a giant Wall Street firm called the shots.

Dr. Victor Gurewich, a researcher and Harvard Medical School faculty member since 1965, discovered a breakthrough drug treatment for heart attacks and strokes with the potential to save millions, but institutional resistance and a U.S. healthcare system that puts profits over patients are keeping it out of reach.

“That Italy is “lazy to reform” is probably one of the most widespread myths - and has little to do with reality. In 2015, for example, the OECD rated Italy’s reform efforts as significantly higher than those of Germany and France. The Dutch economist Servaas Storm takes the same line. In an in-depth study, he found that Italian politics as a whole adhered much more closely to the (market-liberal) economic policy guidelines of the EU than Germany and France.” — Phillip Heimberger & Nikolaus Kowall, Makronom

William Lazonick, president of the Academic-Industry Research Network and a professor emeritus of economics at the University of Massachusetts, who has devoted much of his research to the topic of buybacks, has written that the rule change “in effect gave corporations license to use open-market repurchases to manipulate the market.” … In an interview, Lazonick told Retail Dive, “These distributions to shareholders, particularly buybacks on top of dividends, are at the expense of keeping people employed, rewarding them for the work they’ve done, and investing in new products and processes.”

The Uncertainty of Retirement in the New Economy

“To get into the mood for their [Charles Goodhart and Manoj Pradhan] ideas, you can listen to the authors talk about them to my colleague Stephanie Flanders on the Stephanomics podcast, or this podcast from the Institute for New Economic Thinking, or this episode of The Sound of Economics podcast from the Bruegel Institute.” — John Authers, Bloomberg

Nobel laureate James Heckman, Sidharth Moktan and their INET-funded research on economics journals is featured in The Economist.

The Guardian

Luohan Academy’s Director Chen Long discusses the academy’s latest report, on the benefits of creating a “digital circular economy,” which would go a long way towards reaching net zero carbon emissions and addressing the climate crisis. Report link: https://www.luohanacademy.com/insights/bc89734b94adf00c

The International Monetary Fund and the World Bank celebrate their 70th anniversary this year, yet few countries have been eager to join the festivities.

The Straight Truth

Treating education like a market is all the rage. But it hurts students, and our society.

Elizabeth Kolbert, Pulitzer Prize-winning writer for The New Yorker, discusses her latest book, Under a White Sky, which explores how technological solutions don’t always lead where we think they will, especially in the face of the climate crisis.

Pharmaceutical pushers like Purdue “couldn’t have done their dirty work” without America’s increasingly unbalanced economy

Writing the history of economic journals is not merely a way to reconstruct the development of new fields and new approaches to economics. It also recasts current debates on peer-review, retractions, open-access, replicability, and bias in scientific publishing in a wider perspective. It answers important questions on the influence of editors, publishers and referees on the development or marginalization of various economic approaches. But such endeavour requires the preservation of journals’ archives, the recognition of historical expertise, and economists’ adoption of a more relaxed and humble approach to their history.

Campaign promises aside, the policies favored by President-elect Donal Trump are likely to bring more pain than gain to  working-class Americans 

How Gerald Friedman’s assessment of Bernie Sanders economic proposals prompted a rare public political spat among economists.

Effective and quick federal policy response is critical to create conditions for a quick recovery.

The Economic Times quotes Rob Johnson’s presentation at the Global Business Summit in India. Cross posted in Pune Media and BM Business News

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

All of a sudden, tiny Cyprus is making headlines. How could such a small country, with an economy approximately the size of the State of Maranhao, create such big problems?

The Intercept covers a new INET paper from our Research Director Tom Ferguson and his co-authors.

Ferguson et al.’s revised INET working paper on Trump and the 2016 election is temporarily available on open access from the International Journal of Political Economy.

How can we better prepare for financial downturns?

As 2022 comes to a close, panelists discuss the immediate prospects for the global economy, the dangers of a lost decade for developing countries and what needs to be done to put the SDGs back on track.

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

James M. Buchanan’s defenders argue he was not racist because of his ties with the anti-apartheid economist W.H. Hutt, but this defense fails miserably

Economists offer widely different explanations for the decline in trade between nations, in a debate that remains unresolved but is increasingly urgent

“Critics led by William Lazonick, economics professor emeritus at the University of Massachusetts Lowell, say buybacks starve companies of cash for innovation and worker pay, and favor executives aiming to jack up the stock prices because their compensation is increasingly stock-based. The buyback trend has become controversial since a 2014 article by Prof. Lazonick in the Harvard Business Review, “Profits Without Prosperity.” The S&P 500 companies that had been publicly listed from 2003 through 2012, he found, had spent amounts equal to 54% of their earnings for buybacks and 37% for dividends, leaving “very little for investments in productive capabilities or higher incomes for employees.” — Randall Smith

“The stories we tell ourselves about the world are a map of the world as we see it. And if we want to change the world, we have to change the story first.”

Professor Glenn Hubbard, professor of Finance and Economics at Columbia Business School, talks about his just-released book, “The Wall and the Bridge: Fear and Opportunity in Disruption’s Wake,” and how society and policymakers can help those who are left behind in the wake of today’s competitive world.

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

From LBJ to the present, the federal government has knowingly continued to expand the US fossil economy, not passively but as a major active player, endangering the future of young people.

New research by Nobel Laureate and Institute for New Economic Thinking Advisory Board member James Heckman finds strong economic gains from birth-to-five education programs 

200 years after Marx’s birth, a look at how two economists sought to reconcile his idea of common ownership with market mechanisms

The view from BIS

With unemployment reaching very low levels in major economies, despite low – and slowly rising – inflation, it’s time for central banks to rethink their reliance on the so-called natural rate. No numerical target for this rate can serve as an anchor for monetary policy.

The Latin America Working Group and the Keynesian Economic Working Group of the Young Scholars Initiative (YSI) of the Institute of New Economic Thinking (INET) are hosting the workshop “Technology, Globalization and the Environment: Latin American Development in the XXI Century” to be held at the headquarters of the United Nations Economic Commission for Latin America and the Caribbean (UN-ECLAC) in Santiago de Chile on the 23-24 July 2018.

US counties with prison labor often have lower wage and employment growth

Getting rid of barriers to economic security is possible with the right policies at the right time. 

This article originally appeared on Bloomberg

Distinguished Fellow at the Asia Research Institute, National University of Singapore, Kishore Mahbubani, discusses his latest book, The Asian 21st Century, in which he relates US decline to the rise of plutocracy and Asia’s renewed rise - after having fallen behind in the last 200 years - to its growing sense of dynamism, optimism, and diversity. This is the 200th episode of the podcast Economics and Beyond with Rob Johnson.

American Prospect editor Robert Kuttner talks about how the faith in Democracy and in the state have suffered tremendously over the past two decades, how it can be restored, and what impact this loss of faith will have on the Biden presidency

And the nominees for Best Documentary are…

Can the renminbi displace the dollar as the world’s international money?

“Yet notable critics like Joseph Stiglitz and Jayati Ghosh, an economist at the University of Massachusetts Amherst, see woefully insufficient production by Western drug companies as a major roadblock to universal vaccination.” — Walden Bello, New York Times

The financialization of U.S. firms making critical products endangers both American global leadership and, in Tesla’s case, climate change progress.

Transparency and ethics are critical.

Forget the myth of a savings glut causing near-zero interest rates. We have a shortage of aggregate demand, and only public spending and raising wages will change that.

Read how did the day of the Berlin conference go

A panel discussion on the importance of the role of the state alongside private enterprise to encourage innovative entrepreneurship, productivity and economic growth in an “Innovation Economy.”

How once-promising Black upward mobility reversed course, and what can be done about it

Unpacking the relationship between exploitation and group identity, Folbre offers a nuanced perspective on societal structures, and the pressing need for cooperative strategies to address global crises. Her insights pave the way for a more equitable and sustainable future in this illuminating discussion on intersectionality, political economy, and social justice.

The activist and author shares a free-ranging conversation with INET president Rob Johnson.

European Union countries are facing an epic challenge of integrating more than 1 million refugees from conflict zones in the Middle East and beyond.