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Behind sex, drugs and rock ‘n’ roll were moral values, says music industry veteran Danny Goldberg

A conflict which revolves around key economic policy differences on questions such as rules vs. discretion, solidarity vs. liability, liquidity vs. solvency and austerity vs. stimulus.

This paper provides critical comments on the Peter Temin - David Vines promotion of the basic Swan Diagram as (1) a policy tool to encourage any individual debtor nation experiencing balance of payment deficits to reduce its exchange rate in order to expand exports and reduce imports and (2) the Swan Diagram as a simple model for understanding Keynes’s General Theory for an Open Economy.

Lunch was just interrupted Bill Janeway standing up to announce that this morning he decided to give $25m to INET and the board will fund-raise this up to $100m over ten years, but then George Soros added $50m in unconditional funding for INET.

How to Get Relief to Those Who Need It. Gosia Glinska in Conversation with Anton Korinek

This blog post looks at the aggregate picture and collates some micro evidence in a more robust estimating framework to shed light on this question.

This new series will explore different takes on and claims about the challenges of women and minorities in economics, opening up a debate on a range of questions.

Mercantilism, Accumulation of Foreign Exchange Reserves, and RMB Internationalization

“Their new working paper, just published by the Institute for New Economic Thinking in New York, gives a rigorously technical analysis of what these tools reveal, and the Institute’s research director, Thomas Ferguson, has helpfully fashioned an introduction to — and a historical context for — the McGuire-Delahunt analysis that lay readers will find easily accessible. Ferguson, himself a pioneer in social science research on political decision making, points out that “the idea that public opinion powers at least the broad direction of public policy in formally democratic countries like the United States has been an article of faith in both political science and public economics for generations.” —Sam Pizzigati

Christopher Cramer and John Sender, authors of the book, African Economic Development: Evidence, Theory, and Policy, discuss their book (co-written with Arkebe Oqubay) and how economic policy needs to be rooted in flexibly responding to changing circumstances and consequences, instead of dogma. Link to a PDF version of the book: http://fdslive.oup.com/www.oup.com/academic/pdf/openaccess/9780198832331.pdf

Many believe that we already have a healthcare problem. But let’s get this straight: healthcare is a solution. Joon Yun posits a new way of thinking about health, illness and aging.

This research project contends that Piero Sraffa tried to develop an economic theory that could stand up as an alternative to the orthodox theory of value and provide a foundation for the Keynesian and post-Keynesian alternatives.

The New York Review

I interviewed Victor Shih, political scientist at Northwestern, at INET’s Bretton Woods conference earlier this year.