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Leijonhufvud has questioned the flawed fundamentals of economics. And he has explored the spread of contagion in undermining the web of contracts that are the basis for capitalism.

Individual EU member states ought to issue perpetual bonds

New findings show that hourly wage-rates in China are higher than in middle-income countries and are approaching the levels of Greece and Portugal

It is a shame that Greece was unable to manage its finances and is now slipping into chaos. But this outcome was inevitable and could not be permanently averted with loans from the international community.

The twin threats of right-wing populism and unencumbered financial capitalism pose a crisis for democracy across the world, argues Robert Kuttner in his new book, Can Democracy Survive Global Capitalism?

This project brings new mathematical tools and ideas from high-dimensional statistics to bear on the problem of creating reliable macroeconomic forecasting models.

This article proposes a new “Concentric Circle framework” which would improve workers’ access to civil, labor, and employment rights.

We assess the Carbon-Kuznets-Curve hypothesis using internationally consistent and comparable production-based versus consumption-based CO2 emissions data for 40 countries (and 35 industries) during 1995-2007 from the World Input Output Database (WIOD).

Inspired by the Coasean “market vs firm” dichotomy, we offer a new definition of efficiency by applying the notions of network cost and network efficiency as developed in complex network theory.

This paper proposes a theoretically based and easy-to-implement way to measure the systemicrisk of financial institutions using publicly available accounting and stock market data.

“Pressley’s resolution builds upon the academic intellectual framework developed by advocates like Dantas and Wray, as well as the ongoing civil rights demand for federally guaranteed jobs, which can be seen in the 1963 March on Washington for Jobs and Freedom (where the Rev. Dr. Martin Luther King, Jr. gave his “I have a dream” speech) and indeed long before that. It also draws on the work of Sadie Alexander, recognized as the nation’s first Black woman economist. Speaking at Florida Agricultural and Mechanical College in 1945 (as noted by Professor Nina Banks, blogging at the Institute for New Economic Thinking), Alexander described full employment as a way to address the nation’s economic and racial imperatives.” — Marin Levine, Nonprofit Quarterly

Nina Banks assesses the legacy of the first African-American economist in the United States

Xavier Gabaix argues that public policies should prioritize alleviating deprivation at the bottom over narrowing the rich-poor gap