5810 Results for “ https://www.galaxus.ch/en/sector/showdiscussion/snap-hack-online-visit-kunghaccom-d2d1mo9k-226342”

“Cultural theorist Lynn Parramore on the deep social effects of economic precarity, and her article “Epidemic of Despair Could Haunt America Long After COVID” at the Institute for New Economic Thinking. https://www.ineteconomics.org/perspectives/blog/epidemic-of-despair-could-haunt-america-long-after-covid” — Chuck Mertz,This is Hell!

The Economic History of a Segregated America

In accepting mass unemployment, post-communist governments and the democratic parties that constituted them removed the economic foundation for Poland’s democracy.

Authors Bill Bergman and Larry Feltes argue that declining public confidence in government and financial institutions is putting the U.S. economy in peril — and a crisis could come faster than you think.

Lance Taylor’s New INET Paper

The company’s focus on stock buybacks to increase shareholder value is a reminder of why so much of the value created daily by millions of workers ends up in the hands of the billionaires

Peter Barnes, the entrepreneur and author of the recently published book, Ours: The Case for Universal Property, talks about how new conceptions of property - a universal commons - could fundamentally transform capitalism to make it more ecologically and socially sustainable.

Sony Kapoor, Managing Director of the Nordic Institute for Finance, Technology, and Sustainability, talks to Rob Johnson about the real problems that the pandemic exposes and whether a Green New Deal is still achievable in this context

Zach Carter, Huffington Post reporter and author of the new book, The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes, talks to Rob Johnson about Keynes’s vision of maintaining democracy in times of crisis.

Eugene McCarraher, Associate Professor of Humanities at Villanova University and author of the book, The Enchantment of Mammon, talks about his book and how society has not really become more secular because it shifted its focus from the worship of God to the worship of markets.

Financial Times economics commentator Martin Wolf continues the conversation about how societal fragmentation benefits the well-off and that only greater equality can reestablish trust between social groups and the state

MIT economic historian Peter Temin talks to Rob Johnson about his next book, which looks at the economic history of how Blacks have been systematically excluded from US society

INET Senior Economist Arjun Jayadev and Shuttleworth Foundation fellow Achal Prabhala talk to Rob Johnson about the global need for access to affordable pharmaceuticals, especially in India and the rest of the developing world.

Summers discusses inequality, the GOP tax plan, and our economic future

The economist reflects back on the racial justice leader who showed him the limits of his academic training.

Contrary to the dominant media narrative, social issues like racism and sexism on their own can’t explain Trump’s success.

This article originally appeared in The Sunday Times of London

Dean Baker, senior economist with the Center for Economic and Policy Research, talks about how geopolitical and economic tensions between the US and China benefit powerful elite sectors in the US, but are bad for working people.

The Keynesian Economics and Complexity Economics Working Groups announce two special sessions, to be held at the annual conference of the EEA in New York.

“To go back a little bit, Covid is possibly the first global event that we’ve actually seen. One year after it really started, we are seeing all these vaccines. It is really quite incredible when you think about the scientific advancement, it has really been something quite extraordinary. But our systems of management globally of knowledge and health are weak and counterproductive and in adequate. I’d say they’re probably best described as unjust and incompetent. Let’s start with this whole question of patent rights. Right from the outset it became quite clear that it was hindering the fight against covid. From the early days if you remember N95 masks we’re a concern, then treatments like remdesivir, so it’s not only a vaccine issue. This was the basis for last years’ call for the Covid technology access pool, which was rebuffed despite widespread support. It was rebuffed by the advanced countries. It’s hard to imagine why this should be the case because such technologies for public health are massive and have positive spill over benefits. Moving now to vaccines, I think the system is even more inefficient when one considers the fact that many companies across the world received significant subsidies for vaccines. Estimates range from about $100 billion and in some cases the entire cost; Moderna and Johnson and Johnson vaccines that were paid for by a public set of money. Such is the case for having patent rights to allow for innovation completely disappears. Now the debate has moved, that it is not actually IP which is the restriction, it’s the ability to produce and manufacturing capacity. But remember eight months ago that did not exist in developed economies. People like the Moderna chief chemist said it takes about three to four months to actually set up these factories. What we should’ve had was a massive transfer in technology to places that could actually do this, completely open access to technology of all sorts, and ramping up production on a sort of global war scale. That has not happened and is it’s still not happening because of these limitations and unfortunately despite India and South Africa making the case in the WTO and despite some better noises from the Biden administration we’re really not seeing much movement.” — Arjun Jayadev

We examine the World Bank’s protracted and conflicted attempts at shareholding reform from 2008 to the present, situating them within the broader context of multipolarity and intensifying geopolitical rivalries.

“’human beings must be driven by x’…. well this is a myth about human beings and it’s not really the way we work, but the religion of capitalism insists that it is true. This is a sacred idea that competition is ultimately for the best of society, that the market will decide what is best, not governments or we the people. I think one of the things that Eugene McCarraher who wrote this book, “The Enchantments of Mammon” susses out in a very nuanced way, is how our country is built on these sort of opposing ideas. On the one hand we have this idea of competition and then we have another religious idea about brotherhood which is also baked into the sacred text of our nation. These two things are kind of ill-fitting and trying to make them work together is something we’re still struggling with right now.” — Lynn Parramore

Bill Janeway explains why “efficiency is the enemy of innovation,” and how venture capitalists and the state advance technological change

Inflation persists not just because of spending or interest rates, but because underlying social conflicts over income, expectations, and power remain unresolved.

A concentration of wealth and power that created a twin crisis of representation — in politics, and in expertise — set the stage for Donald Trump’s election victory, and has put America’s founding principles at risk

Tom Nichols, Professor of National Security Affairs, US Naval War College, columnist for USA Today, and contributing writer at The Atlantic, discusses his new book, Our Own Worst Enemy: The Assault from within on Modern Democracy, and how a decline in civic virtue has generated a dangerous illiberalism.

“The most recent study, using sophisticated AI techniques, dispels “notions that anyone’s opinion about public policy outside of the top 10 percent of affluent Americans independently helps to explain policy.” Thomas Ferguson, the leading academic scholar of the power of the “tools and tyrants” of government, concludes: “Knowing the policy area, the preferences of the top 10 percent, and the views of a handful of interest groups suffice to explain policy changes with impressive accuracy.” — Jared Rodriguez, Truthout

“The economists Òscar Jordà, Moritz Schularick, and Alan Taylor studied the sensitivity of house prices to interest rates across 14 countries and 140 years of history. They found that a 1 per cent rise in interest rates reduces the ratio of house prices to incomes by about 4 per cent. In New Zealand, for example, that ratio has risen by about half in a decade, implying a double-digit rise in interest rates to stabilise it.” — Robin Harding, FT

“I believe they mostly got this right. Just before President Biden took office, I presented some thoughts on what a rescue plan should include to deal with the macroeconomic challenges of the pandemic. I emphasized four broad areas: public health spending, enhanced unemployment benefits, assistance to state and local governments, and so-called “stimulus checks” to households. The legislation the president has signed does a pretty good job in all four areas.” — Sara Savat, Washington University News Room

“Ferguson, whose research has shown that candidates who raise more money stand a much greater chance of winning election, added that “when you get that much money pouring into the election, it means that you have all these investors who decide which election is ‘worth it’ and that tends to pull even liberal democrats to the right. It is a somewhat subtle effect but a very real one and clearly an anti-democratic consequence of the system.” — Andrew Kennis

Susan Piver—a writer on meditation and Buddhist teachings and founder of the Open Heart Project—talks to Rob about how Buddhist ideas of being grounded in the present can help us get through the uncertain times of this pandemic.

Gaël Giraud, founder and leader of the Georgetown University Center for Environmental Justice, talks to Rob Johnson about how liberal democracies will fare in facing the pandemic, whether we could see a rise in authoritarian governments, and why economics needs to take climate change into account

Universal Basic Income is gaining in popularity, among socialists and libertarians alike. But when it comes to implementation, the devil is in the details.

Justice requires that the media, policy makers, and the public understand why corporations engage in misconduct and fraud

Thomas Piketty vs. Luigi Pasinetti and John Maynard Keynes

Arjun Jayadev, economics professor at Azim Premji University in Bangalore, India, and Achal Prabhala, coordinator of the AccessIBSA project, discusses the urgency of waiving intellectual property protections for vaccines, particularly in light of the on-going COVID-19 pandemic in India and other developing countries.

This book traces the evolution of Charles P. Kindleberger’s thinking in the context of a ‘key-currency’ approach to the rise of the dollar system, here revealed as the indispensable framework for global economic development since World War II.

While Africa’s “premature deindustrialization” appears to be the dominant global narrative, recent analysis of the data suggests that de-industrialization is not the common experience for the majority of African countries

In their op-ed in the Washington Post, INET grantee William Lazonick and Rick Wartzman show how companies are spending their tax savings on investors, not workers.

Real Estate Investment Trusts (REITs) are considered “passive” investors and are exempt from corporate tax. But in reality, they play a very active role in reshaping whole industries, like healthcare.

“So these companies have been hamstrung by these hedge fund activists that are only interested in making a buck as quickly as possible. And they really don’t care about the long-term sustainability or health of the company. Or is it anything the company might want to do in the way of making products in the future? They’re all about the short term. So they are holding American companies back.” — Lynn Parramore

“In “Private Equity’s Engagement With Health Care: Cause for Concern?” a report to the Institute for New Economic Thinking, researchers Eileen Applebaum and Rosemary Batt found that wages dropped at urgent care centers after acquisitions by private equity companies. They were 9 to 12 percent lower than hospital wages. More consolidation and Amazon’s relentless drive to suppress costs bode more of the same.” — Brian Alexander, Boston Globe

Stephanie Blankenburg, who heads up the Debt and Development Finance Branch of the United Nations Commission on Trade and Development, talks about the urgent need for the world to provide massive loan forgiveness to the developing world in response to the global economic crisis that the coronavirus pandemic has caused.

Rob talks to Nobel laureate economist George Akerlof about economics’ bias against the “soft” social scientific perspectives of anthropology, sociology, and psychology in favor of “hard” economic models that attempt to replicate iron-clad scientific laws. They also discuss how to reform the economics profession and the needs of a new generation of economists.

Robert Borosage, co-founder of the Campaign for America’s Future, talks about the what went well and what did not go well at the Democratic Convention and the Democrats’ failure to recognize that their own economic policies helped bring about Trump

Nelson Barbosa—Professor at the Getúlio Vargas Foundation in São Paulo, former Finance Minister of Brazil, and member of INET’s Global Commission on Economic Transformation—talks to Rob about how faith in the free market is eroding under the COVID-19 pandemic, and how the crisis will impact globalization.

Jayati Ghosh, professor of economics at Jawaharlal Nehru University in New Delhi and member of INET’s Global Commission on Economic Transformation, talks to Rob about the unique way the COVID-19 pandemic is affecting developing countries. They also discuss the developing global economic crisis, and the way young people in particular are responding.

New book reveals how and why hedge-fund activists have been able to suck the life from big-name companies like J.C. Penney and Samsung with their short-sighted profit-grabs. Can their harmful activities be stopped?

Both before 2008 and today, there’s a disturbing tendency in Washington to not take mortgage fraud seriously

“It’s interesting he [Josephus Daniels] may not have been the most die-hard racist, but he just saw that racism is how you win elections. I think we see echoes of that today. I think it’s also notable to recall that this is the only successful insurrection on U.S soil in U.S history. People started finding out a little bit about it when the capital siege occurred because people started asking, “has an insurrection ever happened?” Actually the answer is yes, and it would be Wilmington. It’s the only time this has ever happened to a municipal government and it was the state that allowed this to happen, allowed these militias to run amok. It was the state that was really responsible at the end of the day for this violence. And there have never been any reparations of any kind even though there are people living in Wilmington today who can who can say, “my ancestor owned this plot of land that was taken.” They’ve never had any reparations. If it was a white person that could prove that, I think we would be talking about justice. But it mirrors the Tulsa situation, it was the success of black people that was the problem. Not this idea of inferiority which had been the racial mythology. it was actually the fact that black people had persevered and were very successful even in the face of all of this oppression.” ….It’s just happened time and time again in Wilmington, Tulsa, Detroit, elsewhere, that the American dream has just been incredibly elusive for black Americans through absolutely no fault of their own. What I think is pretty clearly structural racism.”— Lynn Parramore

By 1812 the U.S. already had more business corporations than any other country and possibly more than all other countries combined.

“But ultra-low interest rates may be doing more harm than good, economist William White says in a working paper published last month by the Institute for New Economic Thinking. White, a former economic adviser at the Bank for International Settlements, has a number of arguments against this central bank policy. First, while lower borrowing costs do initially accomplish their goal of spurring spending, much of it is on “unproductive purchases” by both households and corporations that only wind up increasing the debt burden. Second, low interest rates can actually destabilize financial markets and the institutions surrounding them, either through inflated prices, encouraging fund managers to take on riskier investments, or hindering how banks and lenders are supposed to do business, White argues. And then there’s the exit problem. Once central banks lower interest rates, it’s very hard to tighten the flow of easy money. “Each cycle of monetary easing contributes to a buildup of undesired side effects that raises the likelihood of future instability,” White writes. “Central banks are then lured into a ‘debt trap’ where they refrain from tightening, to avoid triggering the crisis that they wish to avoid, but that restraint only makes the underlying problems worse.” — Diccon Hyatt, The Balance

The new IPCC Report is overly optimistic about global productivity growth and fossil fuel energy use. More dramatic, immediate action is needed

Billions living in insecurity and injustice is hardly a rational system.

Nobel laureate James Heckman is one of this year’s recipients of the Dan David Prize, an international honor which encourages innovative and interdisciplinary research, for his scholarship on poverty.

Two economists who have studied Intel warn that Trump’s move to take a stake in the company amounts to flashy optics, incoherent strategy, and a creeping politicization of economic policy.

Danny Quah—Dean and the Li Ka Shing Professor of Economics at the Lee Kuan Yew School of Public Policy in Singapore—talks to Rob about why the fast-moving “Ferrari” economy we’re used to is ill-suited for the pandemic, and why we now need a sturdier “Jeep” economy that can handle bumps in the road.

Prolific author and philosopher Ervin Laszlo discusses his most recent books, in which he outlines how the latest discoveries in science converge with spiritual insights and point to the ways in which society might evolve in ways that will help overcome contemporary crises.

Salaries in the U.S. aren’t keeping up with inflation, despite pandemic-related increases in some sectors. That’s a major threat to the future for all working Americans – especially the youngest.

It’s Nobel Prize time again. And what a beautiful prize this year it is!

In an exclusive interview, Benjamin Page discusses urgent reforms needed to tackle critical challenges, from undemocratic institutions to economic inequality.

António Guterres and CGET Commissioners discuss cooperating on inequality, climate change, multilateralism, and more

Axel Leijonhufvud showed economists a promising path forward. They should have taken it. Leijonhufvud passed away on May 5, 2022

Spain’s future path for economic policy will soon be decided.

Clear rules and sound principles for debt restructuring would level the playing field between developing countries and creditors

Journalist Peter Goodman delves into the persistent problems with supply chains and how to fix them his new book, “How the World Ran Out of Everything,” in conversation with the Institute for New Economic Thinking

The Institute for New Economic Thinking held its sixth Annual Conference from April 8 to April 11, 2015, in collaboration with the Organization for Economic Cooperation and Development (OECD) in Paris.

The EU is preparing to take a tough line with Britain, in order to deter other member states from following it out of the Union. But it is the neoliberal agenda that has prevailed for last four decades, benefiting only the top 1%, that is fueled voter anger on both sides of the Atlantic.

“Just now read this fascinating interview by Janine Jackson of fair.org (Fairness & Accuracy In Reporting) with Lynn Parramore of the Institute for New Economic Thinking on how hedge fund managers are damaging American companies by pushing company managements to do stock buybacks. Basically, stock buybacks force up the price of a stock, allowing shareholders to make megabucks when they sell. Such buybacks were difficult until the Reagan administration loosened the regulations in 1982. Why are stock buybacks bad ? Because they divert money from research, from new investments and innovation, and from raising wages. The interview with Lynn Parramore goes into the details.” — Daily Kos

“Actual experience, as opposed to cost-benefit analyses of theoretical alternatives, further strengthens the case for suppressing the disease fully, where feasible. A recent paper from the Institute for New Economic Thinking, To Save the Economy, Save the People First, suggests why. A chart (reproduced here) shows that countries have followed two strategies: suppression, or trading off deaths against the economy. By and large, the former group has done better in both respects. Meanwhile, countries that have sacrificed lives have tended to end up with high mortality and economic costs.” — Martin Wolf, The Financial Times

Mallaby’s research shows that Greenspan knew more about the looming perils than people realize.

Frank Dikötter explores previously classified Chinese leadership documents, and attempts to set the record straight.

When working within the same employment spell, female workers, particularly those of color and those working in low-wage service and care jobs, earn significantly less when facing greater volatility than their male counterparts or those working in non-service, non-care occupations.

To illustrate the previous post on the difficulties in putting together a chronology, here is tentative chronology of economics at Carnegie. It’s still in process, and links, sources and entries will be updated as I read.

Two things seem to be taken for granted in the current debt-ceiling debate: 1. The parties will come to an agreement on the debt ceiling because 2. These United States have never defaulted and will not start now.

A new paper by Nancy Folbre offers an evidence-based refutation of ‘just-world’ assumptions

Lord Adair Turner visited the Oxford Martin Lecture Theatre on Tuesday 24 November for a well-attended INET Oxford event launching his latest book ‘Between Debt and the Devil: Money, Credit, and Fixing Global Finance’ (Princeton University Press).

Ocean expert Peter Neill says the watery depths hold solutions to earth’s most pressing challenges

Has the solution to global tensions been waiting at home all along?

On this blog, we like to overstate quite a bit our irreverence towards the establishment and in particular our senior colleagues.

Ten years after the crisis, financial regulation leaves taxpayers holding the bag for banks’ safety net.

The famed short-seller reminds us that technology might advance, but we’re still a pretty predictable bunch of apes.

But the five countries must still support greater investment in other emerging and developing economies

This three-day summer academy and annual meeting of the Finance, Law, and Economics Working Group aims to bring together graduate students and young professionals pursuing careers in international economic law. By learning from prominent academics and practitioners in the field, participants will develop the fundamental skills to handle multi-jurisdictional and interdisciplinary issues, while broadening their networks. After successful attendance, YSI FLE will issue the corresponding certificates.

Jim Chanos, the president and founder of Kynikos Associates and well-known investment manager talks to Rob about the post-pandemic financial system, which has become more steeped in a casino culture than it has been in a very long time, and whether China’s financial situation serves as an example or as a warning.

A Response to Heiner Flassbeck’s questions about the Institute’s Council on the Euro Crisis

— European

A model that captures key vulnerabilities and structural weaknesses of developing countries’ trade and production structures.

The Theory of the Firm, Financial Flows, and Economic Performance

I’ve been thinking a bit more about Roland Fryer’s working paper on police use of force, prompted by this thread by Europile and excellent posts by Michelle Phelps and Ezekeil Kweku.

INET’s Commission on Global Economic Transformation - Interim Report on the Global Response to the Pandemic

The transatlantic conference has been moving targets: sociology went first, then economics, then history, today it was political science and international relations.

Can we learn something from philosophy students?

Gerald Friedman responds to the Romers on the Sanders Plan.

“But some progressives are worried that “Biden is working backwards from identity,” as one longtime political observer put it, designing a cabinet stocked with diversity but less focused on making the changes that many progressives see as long overdue, both in terms of domestic and foreign policy. “I applaud the formidable progress in the diversity of cabinet and key administration appointments. It is long overdue for America,” said Robert Johnson, the president of the Soros-backed Institute for New Economic Thinking. “But it is not a substitute for taking on monied power interests to produce reform leading to broad-based prosperity. If identity politics is used as a mask to avoid that enormous challenge, it will be very dangerous for the already polarized politics of the USA.” — Michael Hirsh, Foreign Policy

How the fear-of-the-new transformed a “miracle” into an aborted attempt at catching-up

INET’s grantees and Commission on Global Economic Transformation are looking at artificial intelligence and society.