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

Amid the ongoing research interest in questions of inequality, it is important to examine the question of access to housing — and how that has changed over the decades. The specific question I have sought to answer, here, is whether the real cost (measured against income) of buying the average home has risen.

Painting economics as blind to inequality may be overstating matters, but for too long efforts to explain it have been self limiting. Now, new economic thinkers are willing to pose uncomfortable questions.

Young Scholars based in Latin America are invited to convene in Buenos Aires. The event serves to strengthen the Latin American network of new economic thinkers pursuing a new economic paradigm. Attendees will be able to enjoy several partner events during the same week.

The Political Movement That Dared Not Speak its Own Name: The Neoliberal Thought Collective Under Erasure Philip Mirowski [Institute for New Economic Thinking, August 2014] ….consider the question: how should we approach the construction of a reliable history of a group of intellectuals who have managed to turn their meditations into a political movement on a global scale? Of course this raises timeworn problems of the relationship between theory and practice; but the Neoliberal case sports a further thorny complication: while we can fairly comprehensively identify the roster of whom should be acknowledged as a part of the movement, at least from its beginnings in the 1930s until the recent past, we are confronted with the fact that, in public, they themselves roundly deny the existence of any such well-defined thought collective, and stridently denounce the label of Neoliberalism. Not only do they wash their hands of most of the documented activities of the Neoliberal Thought Collective – think of Hayek and Friedman and their denials concerning the Pinochet interlude in Chile— but their plaint is that their opponents the socialists have always gotten the better of them, and thus their political project has never enjoyed any real successes, ever, anywhere, contrary to all evidence brought to the table. They are forever the bridesmaid of conservative parties, never the bride, to hear them tell it. Given the sheer numbers of people involved, and the really astronomical sums of money, and the cultural dominance of the airwaves, this sad sack victimhood is really quite remarkable, and itself calls for serious examination. Perhaps it has something to do with the fact that a political movement that dare not speak its own name has intellectual contradictions that it dare not air openly.

How will climate change influence economic sustainability?

The YSI Africa Working Group is convening in Bologna, Italy in conjunction with the 13th Annual Meeting of the African Economic History Network. Our meeting in Bologna follows what promises to be a successful convention in August 2018 at the YSI Africa Convening in Harare, Zimbabwe. The YSI Africa Working Group is committed to continuing important conversations about how economic history can contribute to the study of development of Africa. We are particularly interested in thinking about the types of new approaches to the study of economics and economic history.

“Right after the CDC made this announcement, the president of the American Federation of Teachers, Randi Weingarten, sent a letter to the Biden administration, citing a study by the Institute for Economic Thinking. … The authors of the study are Dr. Deepti Gurdasani, who did much of the research for the study and is a clinical epidemiologist and statistical geneticist and senior lecturer at the William Harvey Research Institute in London; Dr. Phillip Alveldi, CEO and chairman of Brain Works Foundry Inc, a U.S.-based developer of artificial intelligence-enhanced health care technologies and services; and Thomas Ferguson, the director of research projects for the Institute for New Economic Thinking.” — Dennis Donohue, Santa Fe New Mexican

“in addition to the author’s interpretations, there will also be a considerable list of texts and contributions that can be useful for approaching and deepening the economic debate and the developments of the alternative and post-Keynesian theoretical approach, even in its various currents. . The not obvious presence in the public debate of these topics makes the book an important reading in order to interpret the recent economic history of our country starting from the questions that the crisis triggered by the outbreak of the pandemic and the recipes prepared by the European and national institutions pose us. , of which however no shadow is seen in political decisions, having an interpretative key that escapes the mainstream logic is, even more so in this context, of crucial importance.” — Davide Romaniello, Sinistrainrete

“In his speech, Xi pledged to uphold support for the Greater Bay Area initiative, and the Shenzhen plan includes specific measures to create employment and housing opportunities for Hong Kong’s young people. Driving forward the development of an economy as large and complex as China’s is a monumental feat in the best of times – not least because there are no models to emulate. Amid hostile external conditions, the challenge is even greater. But with the Shenzhen plan – and the broader adaptation and implementation of the city’s successful reforms – China may well be able to meet it.” - INET Expert Andrew Sheng, member of Commission on Global Economic Transformation

Rather than continue to narrow the field, economists need to ask what they’re missing

The financial system no longer funds new ideas and projects — only about 15 percent of the money coming out of financial institutions goes into business investment; the rest is spent buying and selling existing financial instruments.

How do economists make their models work? By assuming that investors have rational expectations and that every market participant is alike. However, things quickly get messy once economists start to acknowledge that people are different, interact with each other, and change heuristic forecasting strategies based on recent performance.

This research project re-examines the debates around the time of the Great Depression and compares them with those before and since the start of the Long Recession in 2007/8, focusing on Keynes, Hayek, and their followers.

This research project develops tools that allow social scientists to understand how and when social factors, such as peer influences, role models, or norms, affect individual choices.