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We want an economy that generates stable and equitable growth—or what I call “sustainable prosperity.” We want productivity growth that makes it possible for the population to have higher living standards over time. We want an equitable sharing of the gains from productivity growth among those whose work efforts and financial resources contribute to that growth. And we want sufficient job stability to enable workers to remain in productive employment for some four decades at work while providing them with enough savings to provide them with adequate incomes over some two decades of retirement.

This research project shows what economists can learn from political philosophers in thinking about economic inequality while also investigating the philosophical significance of recent empirical work on inequality, within economics and elsewhere.

The Institute for New Economic Thinking joined the Centre for International Governance Innovation (CIGI) in holding its fifth Annual Conference from April 10 to April 12, 2014 in Toronto.

Why is the History of Economic Thought important?

Revenues to GB electricity generators in 2022 increased by almost £30bn, compared to pre-COVID levels.

Contrary to the neoclassical loanable funds theory, historical bond yields show Keynes was right that “convictions” anchor long-term interest rates

The aim of the two-semester sequence is to explore a coherent alternative to neoclassical and post-Keynesian theory that does not rely in any way on concepts of utility maximization, rational choice, rational expectations, or perfect/imperfect competition.

Last time, I looked at the Chinese property market. The last link in that chain of financial interlinkages is the People’s Bank of China, the Chinese central bank.

The Term Securities Lending Facility (TSLF) was one of the bigger (in dollar terms) emergency programs implemented by the Fed during the crisis of 2008.

“What is the real meaning of the return of the state in a world that after the pandemic starts a boom in the technology sector with the advantages and risks that this entails? The response of the Nobel laureate in economics Michael Spence during the discussion with Robert Johnson, president of Inet (Institute for New Economic Thinking) was clear: “I believe that the return of the Statto means many things. The state is very important for social protection, to remedy the failures of the market. There will be changes in the models of globalization but people think about the state and not about globalization. And the state must be able to respond to citizens’ expectations.” And in the face of what Johnson called “growing political despair” ( even as Biden has made progress in restoring confidence in citizens after the inequalities caused by the pandemic ), a new political class is needed.” -L’Adigetto

Michael Greenberger says unregulated credit default swaps could take down the economy—and taxpayers—again

The Institute extends its congratulations to Philip Lane, who has been named to succeed Patrick Honohan as the Irish central bank chief, and inherit his role on the council of the ECB.

In his opening remarks, Robert Johnson said that this “is not the institute of anything goes” with INET now getting to a point where it needs to stop criticising the mainstream and should instead “create a new vision.”

James M. Buchanan’s defenders argue he was not racist because of his ties with the anti-apartheid economist W.H. Hutt, but this defense fails miserably

Further Thoughts