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If we are to work toward a better future, we must look beyond the surface, and understand the multifaceted reality of China’s ascent in the global arena.

Do economists live in a world of their own?

It’s crunch time in Europe.

This research project explores how genomic data can inform the understanding of social science questions. The genomic revolution means that social scientists are able to correlate a range of outcomes and behaviors with genes. This research studies what these correlations mean.

Boston Globe

“Overcoming the COVID-19 crisis and ensuring a rapid and equitable economic recovery are only two of the challenges we must meet in 2021. This year will also be a crucial one for achieving the goal of net-zero carbon dioxide emissions by mid-century.” — Project Syndicate

“The new acting Deputy Prime Minister for EU funds is called Atanas Pekanov. The young expert, who recently turned 30, is an economist at the Austrian Institute for Economic Research (WIFO) in Vienna, Austria, and a lecturer at the Vienna University of Economics and Business (WU Wien). … Member of the Young Researchers Initiative of the Institute for New Economic Thinking.” — Darik

Lance Taylor, Servaas Storm, Mario Seccareccia and Marc Lavoie comment on Lawrence Summers and Anna Stansbury’s article titled “Whither Central Banking?”

Education innovator Jacqueline Edwards talks to Rob Johnson about how technology has the potential to bring people from less fortunate backgrounds onto an inspired path of learning that creates opportunity and portends a better future for humanity.

Rob Johnson talks to poet and scholar Ed Pavlic about how the pandemic’s physical distancing requirement forces us to reassess all of our relationships and how racism and inequality intensify the pandemic’s effects

In a complex world, we’ll experience more “black swans”, and the things that standard economic models assumed away will matter much more.

This research project commences work on a supplementary edition covering much of John Maynard Keynes’s significant writings on economics, philosophy, and politics that remain unpublished.

The YSI Economic History Working Group and the YSI Financial Stability Working Group are hosting a webinar series on the “Institutional Responses to Financial Crises, 1870 to 2017”. 

“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

Institute for New Economic Thinking grantee James K. Galbraith will be awarded the 2014 Leontief Prize.