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In our two papers, we analyze how changes in personal and functional (wages versus profits) income distribution interact to produce different macroeconomic outcomes in different countries. On the basis of a stock-flow consistent model calibrated for the United States, Germany, and China, simulations suggest that a substantial part of the increase in household debt and the decrease in the current account in the United States since the early 1980s can be explained by the interplay of rising (top-end) household income inequality and certain institutions (e.g. easy access to credit, privately financed education and health care systems).

State-issued digital money may avoid some pitfalls of cryptocurrency, but it’s no financial panacea

ProMarket’s new “Addendum to Retraction,” written it appears in response to our recent INET post, doubles down on its critique of our piece which showed that it is feasible for increased output to lead to reduced welfare. The ProMarket addendum is notable for its economic errors.*

The world-renowned development economist Jeffrey Sachs outlined a new framework for US-China relations in conversation with INET President Rob Johnson

Despite post-2008 regulations, the boom-bust credit cycle continues to run wild

A panel featuring Thomas Piketty, Kevin Murphy, and Steven Durlauf

I am late to the party on the inventive use of copper by Chinese companies seeking alternative sources of funds.

The financial and economic crises started by the fall of Lehman Borthers came as a big shock, a financial shock, an economic shock, a psychological shock, and a political shock among others.

By reducing our reliance on chemical fertilizers, policymakers could turn today’s food crisis into a genuine opportunity towards shifting subsidies from agribusiness-led to agroecological-led farming systems

Stock flow consistent macroeconomic models suffer from the lack of a coherent estimation method due to the complicated nature of the modeling process.

Sara Wynn-Williams, defying Facebook’s attempts to silence her, reveals the company’s toxic culture and global damage, exposing unethical practices and a profit-at-any-cost approach. The key question she leaves us with: How can this be changed?

As women’s rights to make reproductive choices come under assault, historian John M. Riddle argues that abortion has been far more essential to human history than you might imagine.

A few weeks ago, I attended the H2S 4th workshop on “Cross disciplinary ventures in postwar American Social Sciences,” (research program outline here).

Many of the challenges facing the new EU Presidency will need to be addressed not only at the European level but within a reinvigorated multilateral framework.

This research project investigates the rise of federal credit programs in the United States, leading to a better understanding of the development of federal credit programs.