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As the collapse of global supply chains highlights the fragility that comes with economic interdependence, the pandemic is fueling the rise of ethnonationalism. Policy decisions in response to the crisis will play an important role in determining the fate of the world economy.

Thirty Years of Indian Economic Reforms: Assessing the Growth and Development of Kerala

At dinner yesterday Niall Ferguson made the argument that China (or the East) were perhaps no longer looking to how Western countries had built their social institutions and formed their empires, and were instead now doing their own thing as the Western approach was shown to be flawed

INET co-founder George Soros is calling on Germany to lead Europe out of its economic doldrums or get out of monetary union altogether.

Who owns knowledge?

If a tree falls outside of the market sector, does it make a sound?

This episode features Pier Carlo Padoan, Chief Economist and Deputy Secretary-General of the OECD, talking about the euro zone crisis, Europe’s structural problems, and how uncertainty has damaged economic growth in Europe.

Lance Taylor’s New INET Paper

Does it matter if the Rational Expectations Hypothesis is unrealistic?

China released quarterly GDP figures this week. Wen Jiabao emphasized the parts of the release that pointed toward stabilization, and one can certainly find some logic to that view.

“What is the motivation for tax avoidance? To maximize profits and juice the stock price, of course. A research team led by William Lazonick at the University of Massachusetts reports in Harvard Business Review that from 2009 to 2019, S&P 500 companies spent over 90% of net income on buybacks and dividends, with the highest levels achieved after the 2017 tax cuts, in 2018 and 2019. Taking on corporate debt to finance share repurchases has become commonplace. Never mind that share buybacks deplete corporate treasuries of cash to weather setbacks and to fund productive investment in labor and R&D.”

“Today joined by Dr Arjun Jayadev, who is a Professor of Economics at the School of Arts and Sciences at Azim Premji University in Bangalore, India. He was previously Associate Professor of Economics at the University of Massachusetts Boston. He is also closely involved with the Institute for New Economic Thinking. I speak to him about the basic links between IPRs and the pandemic; the long-held orthodoxy in economic theory on the importance of IPRs, especially in areas like health; how IPRs lead to suboptimalities like hoarding of knowledge, vaccine grabs and other global inequalities; the relationship between public funding and vaccine production; whether private profits being produced from public investments; and finally, the problem of vaccine nationalism.” — Chayakkada Chats

Alan Light, veteran music journalist and host of “In The Light” on SiriusXM, discusses how the pandemic affected the world of music, what we gained and what we lost, and what we might look forward to for 2021

“Consider the following point made by Institute for New Economic Thinking executive director Rob Johnson during a recent interview when asked about Medicare for All: “Public opinion polls show more than 70 percent of the population is in favor of Medicare for All. It’s not the population that doesn’t want it, and they’re the ultimate voters. It’s vested interests and the struggle that has to do with the relationship between money-raising campaign war chests and the probability of re-election and what you might call the refractory influence of the mainstream media, where pharmaceutical companies in particular and insurance companies as well are very big advertisers.” — Luke Savage, Jacobin

Several founding CGET members announce the ambitious project and respond to questions from the press.