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China is now the world’s largest greenhouse-gas emitter, accounting for over 25% of the global total. But the country has also demonstrated a growing understanding that a truly green economy promises to improve quality of life and create enormous opportunities for technological and political leadership.

A recent e-mail conversation I had with Harro Maas concerning one of my latest drafts (shameless self-promotion) made me buy and read Naomi Oreskes and Erik Conway’s, Merchants of Doubts.

YSI is hosting sessions at the 2018 STOREP conference.

Kristen Ghodsee discusses her research on how love and relationships function under socialism and capitalism, and what economists miss about the rise of right-wing populism in Eastern Europe

The energy transition is happening. But the pace of change depends on a range of technical, business, and societal factors.

To make start-ups work for everyone, we need to put power back in the hands of workers.

Until 2008, rising home values gave the middle class a cushion amid growing income inequality. But following the financial crisis, that wealth has failed to return.

The degree to which economics is isolated from the ordinary business of life is extraordinary and unfortunate.

Ever since 2016, INET researchers confirmed the significance of economic issues in Trump’s ascendency.

Open-ended polling responses reveal considerably more complexity – and more ambivalence and negativity – in Americans’ views of international trade than has been inferred from widely cited closed questions

The Volcker Alliance has launched a series of new papers with important proposals for reforming financial regulations to guard against future crises 

With the approval of the reform proposals by the Greek government, the Eurozone has returned to calmer waters. But it is only a brief interlude.

The Azim Premji University-Institute for Economic Thinking Advanced Graduate Workshop in Poverty, Development and Globalization is interested in identifying the complex global interactions that influence poverty and development as well as the development strategies that have proven successful in promoting equitable growth, promoting capabilities, and reducing poverty.

This three-day summer academy and annual meeting of the Finance, Law, and Economics Working Group aims to bring together graduate students and young professionals pursuing careers in international economic law. By learning from prominent academics and practitioners in the field, participants will develop the fundamental skills to handle multi-jurisdictional and interdisciplinary issues, while broadening their networks. After successful attendance, YSI FLE will issue the corresponding certificates.

Renowned campaigner for social and economic justice to set the tone in conference keynote

The key role coal industrialists played in supporting and financing the eventual Nazi triumph

The conference, which is part of our Academy’s ‘Future of Humankind’ initiative, will provide a global forum of discussion to scholars engaged in analytically understanding the evolution of world dynamics as a process involving a plurality of mechanisms, viewpoints and intersecting trajectories.

New INET Governing Board Member Announcement

How can history help us understand the world economists study—and change how we confront the climate crisis?

Jo-Anne Rolle emphasizes the critical role of entrepreneurship and technology in revitalizing local economies and addressing societal issues.

In his new book, Mindless, acclaimed economic historian Robert Skidelsky urges readers to pause and reflect on the delicate balance between advancing technology and our human essence.

This paper examines the value of connections between German industry and the Nazi movement in early 1933. Drawing on previously unused contemporary sources about management and supervisory board composition and stock returns, we find that one out of seven firms, and a large proportion of the biggest companies, had substantive links with the National Socialist German Workers’ Party. Firms supporting the Nazi movement experienced unusually high returns, outperforming unconnected ones by 5% to 8% between January and March 1933. These results are not driven by sectoral composition and are robust to alternative estimators and definitions of affiliation. 

This episode features grantee D’Maris Coffman of the Centre for Financial History talking about her organization’s commitment to a New Financial History and what the fruits of their approach can tell us about modern debt crises and sustainable debt levels.

So, my new students’ training is essentially about understanding urban “territories” and “societies” through fieldwork. And my contribution is, supposedly, to highlight the economic dimension of all this.

As artificial intelligence reshapes our economy, policymakers must act swiftly to prevent a winner-take-all scenario in the rapidly evolving market for AI foundation models.

The Toxic Textbooks movement devotes energy to curriculum reform as well. Its purpose is to galvanize student protests and “encourage schools and universities to use economics textbooks that engage honestly with the real world.”

Modern monetary theorists ignore how their policies could hurt developing countries

How Germany, the EU and the economics field itself suffer from myopia—and what we can do about it

Some nations have embraced new technologies, while others seem ill-prepared. What accounts for this difference?

In a harrowing new book, scholar Laura Katz Olson pulls back the curtain on a shadowy Wall Street threat that is taking over health care companies – and preying on human lives.

AI was sold as a tool to broaden the marketplace of ideas. Instead, a handful of platforms now control how truth travels, shaping what we see, starving journalism, and locking new AI rivals out of the data democracy needs to survive.

To understand labor productivity—and growing inequality—you have to look at the “dual economy”

Reflections on the Radical Vision of Martin Luther King Jr.’s Last Major Speech

This research project develops an intellectual biography of the Hungarian economist Tibor Scitovsky (1910-2002), who is known primarily for his path breaking 1976 book, The Joyless Economy.

The Institute for New Economic Thinking hosts an exclusive luncheon and conversation with Lynn Parramore, Senior Research Analyst at the Institute and Reuters columnist, and Rana Foroohar, TIME Assistant Managing Editor and Economic Columnist, and Global Economic Correspondent at CNN.

SOAS is home to the leading research and expertise on the global issues of today.

If anything, it points to a better managed global financial system and a more resilient Chinese economy.

Amid debates over costs—and profits—from a coronavirus vaccine, a new study shows that taxpayers have been footing the bill for every new drug approved between 2010 and 2019

Current proposals will worsen inequality and harm those Trump promised to protect—while further enriching the top 1%

Nobel laureate James Heckman is one of this year’s recipients of the Dan David Prize, an international honor which encourages innovative and interdisciplinary research, for his scholarship on poverty.

Exploring inequality, gender, and the North-South divide.

Two weeks of dialogues on Poverty, Development, Globalisation

We first show that, with a Kaleckian structure that is consistent with Pasinetti (1962), the relationship between distribution and growth is more robust than conventional wisdom suggests. Next, we extend our model by incorporating borrowing and emulation effects into workers’ consumption behavior, under different assumptions about how debt is serviced.

This paper traces the evolution of the concept of the cyclically adjusted budget from the 1930s to the present.

The British Academy is the UK’s national academy for the humanities and social sciences. We mobilise these disciplines to understand the world and shape a brighter future.

Dr. Ming Lin spoke out about Covid safety at his hospital and was fired. He’s fighting back against a system that put profits over human life.

Despite using different methodologies, a number of scholars agree that most of the ‘bailout’ money is going to Greece’s foreign creditors

Extract from the keynote speech by the Rev. Dr. William Barber III at the Institute for New Economic Thinking conference on race and economics in Detroit on November 11

Trump ran in both 2016 and 2024 on a promise to reverse the deindustrialization caused by globalization and free trade, using tariffs as his main tool. But the critical question now is: Can it work?

Paper revised for the Institute’s Plenary Conference in Berlin

The YSI Working group on Gender and Economics invites young scholars to partake in their session at the ATGENDER spring conference

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.

Below is a revised version of a talk I gave at the New School University, at a conference to launch Lance Taylor’s latest book. The date of the event was April 28, 2011, more than a year ago, and the delay in revision was entirely my fault—overcommitment and pressing deadlines on many fronts. Sorry about that.

Alissa Quart’s new book chronicles the pain of a disgruntled class that could change the country’s political landscape.

In this episode of Hidden Forces, host Demetri Kofinas speaks with Robert Johnson, about the political economy, inequality, and the failings of our technocratic institutions.

For years, governments in India and much of the developing world have followed the advice of a paper arguing that labor regulations actually hurt workers. The problem? The research was wrong.

Are there aspects of modern technology, made possible by unprecedented computing power and connectivity, that make them distinctively different from previous eras? If so, what are the implications?

Do temporary economic shocks like the COVID-19 recession create lasting effects on the economy?

Why women experts are denied the same scholarly authority conferred to men, and what we should do about it

The workshop aims to bring together experienced researchers with young scholars in the fields of Innovation, Economic Complexity and Economic Geography to understand knowledge accumulation and spillovers through products, people and places. Those interested in interdisciplinary research, especially bridging a gap between these topics are strongly encouraged to apply. 

Reflections of the Université Catholique de Louvain “Macroeconomics in Perspective Workshop”

A growth model incorporating dynamics of capital per capita, atmospheric CO2 concentration, and labor and energy productivity is described.

When Paul Krugman paints John Maynard Keynes as a pioneering critic of dominant free-market economics, he exaggerates wildly, both about the rigidity of orthodoxy and about the pioneering character of Keynes’ critique.

The last straw in the enduring blog debate over microfoundations has taken a decisive historical turn.

An ensemble of mechanisms enables cloud hegemons (Microsoft, Google, Amazon) to plan the whole AI knowledge and innovation network by weaponizing interdependence in networks.

Stock-Price Volatility During the Pandemic

A light-hearted economic analysis of the World Cup

When they told me I was expected to teach “Introduction à l’économie” this year, I thought, OK, this is straight. Every economist knows how to do that.

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

Understanding India’s Northeast from Emerging Perspectives

Davis looks at the financialization of non-financial corporations—i.e., firms that traditionally produce goods and services and invest in machinery, buildings and technology rather than trade in financial assets—and asks what it means that they’re taking on large financial investments.

We all know it: The financial sector is bloated and banks are too big to fail. But just how bloated is it, and how much should it be shrunk?

This research project develops a new behavioral paradigm of heterogeneous expectations that can help explain the sources of financial and macroeconomic instability and find possible policy remedies.

In a previous post we queried whether the theory of the consumer as developed in the first three chapters of Mas-Colell, Whinston and Green (and indeed other comparable texts) provides anything by way of content beyond what is implied by the abstract description of consumers as agents who are maximizing something. [We did not discuss chapter four, on aggregation of demand, to which we may return later]. As we noted then, a comparable point can be made about the theory of the firm.

Losing jobs isn’t the only thing workers have to worry about. AI may make many jobs worse.

In 1898, upwardly mobile Blacks in Wilmington, NC were terrorized and slaughtered in a violent insurrection that set the stage for Jim Crow – and the next 123 years. Hardly anyone really knows about it.

The renowned economist reflects on the rise of neoclassical economics, the post-2008 surge of interest in non-mainstream, heterodox thought, and how young economists can remain independent in the face of biased evaluation systems

Along the entire “innovation chain” — from research and development, to production and commercialization — government and private sectors have very different roles to play.

The plight of white blue-collar workers is well-known, but Blacks in that category were feeling the squeeze long before their white counterparts.

How might a reimagined American foreign policy both bolster the domestic economy and help build a 21st-century global economy that works for everyone?

A webinar panel discussion moderated by INET Fellow Moritz Schularick, with Laura Carvalho, Associate Professor of Economics at the University of São Paulo, Matthew C. Klein, Economics Commentator at Barron’s, and Amir Sufi, Bruce Lindsay Professor of Economics and Public Policy at the University of Chicago Booth School of Business.

Finance for the Rest of Us

Warnings of “corruption and incompetence coming together,” as economists William Lazonick and Öner Tulum study the race to end the pandemic.

In a new book, Alligators in the Arctic and How To Avoid Them, Peter Dorman shows how flawed academic models, faulty assumptions and unrealistic schemes grossly underestimate what’s needed to stop catastrophic warming. He argues for a straightforward carbon emission budget – plus the active citizenship required to fight big businesses that want to keep doing business as usual. Lynn Parramore explores his findings and talks to the economist about the path forward.

As protests erupt on the streets of America and the world, current power structures no longer feel tenable. Can this popular uprising break the neoliberal grip on the state and create lasting structural change that will empower the disenfranchised?

The Eurozone is (quietly) disintegrating as ‘core’ and ‘periphery’ countries continue on paths of economic divergence. That disintegration is reinforced by self-defeating policies shaped by a macroeconomic model that mimics and reinforces the divisions between ‘winners’ and ‘losers’

Months ago, I got a message from a friend that was a swift and excited line: Errol Morris was writing a series of posts about science, even more remarkable about Thomas Kuhn.

It was a mistake to accept a ‘reference price’-determination process for basic commodities led by finance

How much does the standard theory of externalities and public goods really say?

Estimated space requirements for solar energy sufficient to power the entire world are reassuringly trivial, at 0.5-1% of global land area. For individual countries however, the challenges vary greatly, reflecting dramatic differences in population density.

The battle for a living wage for the nation’s poorest workers is set against the backdrop of mass unemployment and the highest level of economic inequality in the U.S. in almost a century.

U.S. GDP accounting underestimates intangible capital, overstates financial capital, and is all but oblivious to the the erosion of human and social capital. A serious growth slowdown is coming.

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

One thing is clear – the ‘get Brexit done’ slogan resonated in a country which had been living on a series of knife edges as one ‘crunch’ time after another came and went.

The YSI Economics of Innovation, Economic Development and Africa Working Groups, in partnership with Global Network for Economics of Learning, Innovation and Competence Building Systems (GLOBELICS), Globelics Alumni, are organizing the 1st GLOBELICS Pre-Conference for Young Scholars entitled ‘Financing of Innovation and Infrastructure for Development’.

Former Deputy Finance Minister of Japan, Eisuke Sakakibara, contrasts Japan’s and the US’s response to the pandemic and talks about the different roles and economic strategies of some of the world’s largest countries.

A case for tackling the corporate machinery driving extreme wealth, and the reforms that could truly curb it.

In an economic context that remains uncertain, the biggest loser of the UK elections may well be our health and that of the environment.