Archive

Economic theories that have been predominant over the past few decades have broken down, and we now have to start creating a new economics that reflects the realities of today.

Every nation faces the challenge of imagining what a good life means. Sound nutrition, shelter, health care, personal safety, social stability, security of savings, clean air and water, and the development of children are among the elements of what many envision as vital to a happy and healthy society.

The global financial cycle has transformed the well-known trilemma into a ‘dilemma’. Independent monetary policies are possible if and only if the capital account is managed directly or indirectly. This column argues the right policies to deal with the ‘dilemma’ should aim at curbing excessive leverage and credit growth. A combination of macroprudential policies guided by aggressive stress‐testing and tougher leverage ratios are needed. Some capital controls may also be useful.

Where will today’s innovation come from?

Kiel Institute President Dennis Snower talks about the euro zone crisis

The degree to which economics is isolated from the ordinary business of life is extraordinary and unfortunate.

The course explores how money markets they work, in the U.S. and internationally.

The battle for a living wage for the nation’s poorest workers is set against the backdrop of mass unemployment and the highest level of economic inequality in the U.S. in almost a century.

Institute for New Economic Thinking grantee Hans-Joachim Voth talks about the crisis in Europe.

what is economically correct must always be balanced with what is morally right.

William White, chairman of the Economic Development and Review Committee (EDRC) at the OECD in Paris

We are coming up to the fifth anniversary of the Lehman crash in September 2008. How bad was it? Have we fixed the problems?

How can we get the financial sector back to serving its intended function?

economists still conceive of law too narrowly, mainly as a means to reduce transaction costs and protect investors.

Why didn’t central banks see the financial crisis coming?