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Going Down the Rabbit Hole at Jackson Hole

Repeat after me: How much pipe should Fed plumbers lay if Fed plumbers like to lay pipe?

A meditation on Vercelli, Vernengo and Levitt & Seccareccia

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.”

To understand the rise of the League and 5 Star Movement, look at economic indicators

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.

Yide Qiao, the Secretary General of Shanghai Development Research Foundation, talks about the political, economic, and military dimensions of US-China relations

Oxfam’s Economic Justice Director, Nabil Ahmed, and Oxfam International’s Inequality Policy & Advocacy Lead, Max Lawson, discuss their latest Global Inequality Report, which highlights the accelerating pace at which the world’s billionaires have increased their wealth exponentially in recent years. They also discuss the ways in which governments can reverse this trend through taxation.

Re-evaluating the “equality-efficiency” trade-off

INET presents you a paper that deals with the relationship between economics and the world we live in. John Kay spells out methodological critiques of economic theory in general, and of DSGE models and rational expectations in particular. The paper builds on two articles that Kay, Fellow at St. John’s College of Oxford University and Visiting Professor at the London School of Economics, recently published in the Financial Times (scroll down to find the links). It is concerned with the relation of quantitative models to the world in which we live, and with evergreens such as the implications of unrealistic assumptions in economic theory. Highly recommended reading. INET forwarded Kay’s paper to a handful economists and invited them to respond. In the following days, we are going to publish direct responses to the paper by a handful of prominent economists. Follow the INET Blog and stay tuned to what is going to be a healthy discussion.

We are in the midst of another global transformation, but this time we might have the tools to get it right.

What is GM CEO Mary Barra’s take-home pay? (It’s more than you are being told)

The reputation of economics and economists, never high, has been a victim of the crash of 2008.