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Dans le cadre de cet entretien, Mr. Mossadeck Bally, C.E.O, Azalai Hotels Group et membre du GRAIN (Groupe de Réflexion, d’Actions et d’Initiatives Novatrices) revient sur les impacts économiques de la pandémie du COVID-19 sur son groupe hôtelier, le rôle du secteur privé malien dans le plan de relance économique, l’emploi des jeunes et les solutions qui doivent être apportées à la crise politique au Mali.

An introduction to a series of interviews conducted by Dr. Dr. Folashadé Soulé and Dr. Camilla Toulmin in support of INET’s Commission on Global Economic Transformation (CGET)

Entretien avec Pr Felwine Sarr, Professeur Titulaire des Universités et agrégé en économie à l’Université Gaston Berger de Saint-Louis au Sénégal, pour la série d’INET sur COVID-19 et l’Afrique

Un entretien avec Bara Guèye

Dans le cadre de cet entretien, Pr Kako Nubukpo, Doyen de la Faculté des Sciences Economiques et de Gestion (FASEG) de l’Université de Lomé au Togo, et ancien Ministre de la Prospective et de l’Evaluation des politiques publiques du Togo, revient sur l’impact économique et social de la crise du COVID-19 au Togo et sur ses répercussions sur les politiques économiques dont les réformes monétaires et fiscales en cours en Afrique de l’Ouest et Centrale.

To celebrate its 100 years of publishing, the AER published a special issues, whose retrospective part consisted of a list of the 20 most important articles, assembled by a committee which included Kenneth J. Arrow, B. Douglas Bernheim, Martin S. Feldstein, Daniel L. McFadden, James M. Poterba, and Robert M. Solow, and an essay on the history of the AER by Robert A. Margo.

Just before the crisis, European countries were designing austerity reforms that would increase inequality and reduce internal demand. Could they return?

Entretien avec Gilles Yabi, directeur exécutif du Think Tank ouest-africain WATHI, sur la sécurité alimentaire en Afrique

Quels sont les problèmes à long terme qui doivent être résolus et quelles sont les solutions disponibles?

Researchers have shown that the financial and economic impacts of denying women abortion care can last years

The Institute for New Economic Thinking held its second annual plenary conference in Bretton Woods, New Hampshire.

Students in Europe have created an important resource for those seeking alternative curricular materials

Mortality and economic data show how constraints to government spending and a skepticism of redistributive policies have made the pandemic far worse

“The aim would not be to unravel a hidden coherent structure of the philosophical, theoretical, political dimensions of his work, but to give a sense of the contingencies that his work was subject to – both in terms of its origins and its receptions. Don’t make up an Arrow that he himself was not aware of.” -Till to me, email conversation on Kenneth Arrow, summer 2012

And the nomination for best Perp Walk goes to…

Three American researchers, crossing the figures for growth and mortality due to the Covid-19 pandemic from many countries, conclude that containment is effective, provided it is accompanied by strong public subsidies.

The 4th Law, Economics & Policy Conference (LEPC) is a virtual, multi-capsule conference series that aims to bring together legal, economic and public policy thinkers to consider a variety of real world issues in India in a holistic manner.

Cross posted from Thursday, February 28, 2008’s broadcast of Democracy Now!

The thunder from the Greek “No” vote in the referendum on Sunday, July 5 continues to roll around the world.

Money in politics is not a strictly American phenomenon. In France, despite strong campaign finance laws, campaign donations have a direct influence on legislative and municipal election results.

Incomes Destroyed at the Bottom, Profits Supported at the Top

Eliminating transit fares can transform lives, connect people to jobs, healthcare, and essential services in more equitable ways.

In this interview, Mr. Mossadeck Bally, a Malian businessman and CEO of Azalai Hotels Group and member of GRAIN (Group of Reflection, Actions and Innovative Initiatives) discusses the economic impacts of the COVID-19 pandemic on his hotel group, the role of the Malian private sector in the economic recovery plan, youth employment and the solutions that must be provided to the political crisis in Mali.

“Facebook is undermining our country, our democracy.”

The Calamity of Germany’s Distorted Perception of Italy

A review of Perry Mehrling’s book, Money and Empire: Charles P. Kindleberger and the Dollar System, and an exploration Mehrling’s discussion of the 1982 correspondence between Charles Kindleberger and Ben Bernanke examining their theories concerning financial crises.

What are the long-term problems that need to be addressed and what solutions are out there?

For women discussing economics, it’s still easier to be seen than heard

The removal of term limits for Xi Jinping may be a better indicator of economic health—or crisis—than official statistics

A collection of our research on populism, globalization and nationalism

A call to action for a world economy in crisis

The health crisis afflicting working-class Americans recalls similar symptoms in Russia following the collapse of communism

Black Americans remain second-class citizens in access to housing finance

You know the country is in a financial mess when even establishment figures such as Rachel Lomax are calling for revolutionary thinking

Greece: reculer pour mieux sauter

In Europe and the United States, political and economic breakdowns have become untenable.

The Institute is proud to welcome the revival of an indispensable resource for those seeking to understand the evolution of economics in context

Stock buybacks come at the cost of technological innovation

A Speaker Series for the Greater Philadelphia Region

The explanation of systematic breakdowns in supervisory oversight over time must include the shift in Federal Reserve culture during and after the 1990s

An INET organized panel under the auspices of the 2020 Trento Economic Festival

Social safety nets don’t always need to come with a dark side

McCloskey discusses the thesis of her recent trilogy, The Bourgeois Era, which holds that the driving force of economic growth in 17th and 18th century Europe was simply liberal ideas.

Nancy Folbre is an American feminist economist who focuses on economics and the family, non-market work and the economics of care. She is Professor Emirita of economics at the University of Massachusetts Amherst, who has written extensively about the economics of care and reciprocity.

Challenges And Emerging Perspectives

In the aftermath of the global financial crisis, few would dispute the risks of excessive borrowing. But which debts should one worry about – public or private? This column presents new research on the interplay of public and private debts since 1870 in 17 advanced economies. History demonstrates that excessive private-sector borrowing plays a greater role than fiscal profligacy in generating financial instability. However, when the credit boom collapses, the government’s capacity to alleviate the downturn is limited by the prevailing level of public debt.

Last week the “Macroeconomics in Perspective Workshop” was held at the Department of Economics of the Université Catholique de Louvain (UCL), in Louvain-la-neuve, Belgium

What 200 Years of Government Interventions in Financial Markets Can Tell Us

Given the choice, would you accept to live in a society where happiness and prosperity is guaranteed for all on the condition that one single person be kept permanently unhappy? Is the well-being of thousands of people “worth” the sacrifice and suffering of a single innocent child? Such is the dilemma to which the inhabitants of the utopian city of Omelas are confronted in Ursula Le Guin’s philosophical short-story “The Ones Who Walk Away from Omelas”. In her parable, most people are ultimately able to come to terms with the atrocity. The few citizens who cannot end up walking away from the city — nobody knows where they go and they are never heard from again.

During this interview, Professor Kako Nubukpo, Dean of the Faculty of Economics at the University of Lomé, Togo and former Minister of Prospective and Evaluation of Public Policy of Togo considers the economic and social impact of the COVID-19 crisis and its repercussions on monetary policy and fiscal reforms underway in West and Central Africa today.

Lance Taylor and Özlem Ömer respond to Andrew Smithers’s final comment on their working paper

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 paper referenced in this post, “Financialization and U.S. Income Inequality, 1970–2008,” recently was awarded the 2014 Outstanding Article Award from the Inequality, Poverty, and Mobility section of the American Sociological Association.

In this interview, Dr. Vera Songwe, economist and Executive Secretary of the United Nations Economic Commission for Africa reflects on the ways that African governments have handled COVID-19, the role of the Continental Free Trade Agreement in turbo-charging future growth, the vital role of infrastructural investment and mobilising domestic resources for building forward better and greener.

Young scholars in the fields of behavioral and experimental economics, philosophy, and related disciplines will be given the opportunity to present their work at a workshop in New York. Samuel Bowles (Santa Fe Institute), Shaun Hargreaves Heap (King’s College London) and Mario Rizzo (New York University) will also present their work and give feedback to the young scholars.

SOAS Anti-Corruption Evidence and the Institute for New Economic Thinking are convening a two-day conference for UK-based early career researchers working on governance, corruption, and related political economy issues in the Global South.

On George Akerlof’s “The Market for Lemons”

Ever since 2008, increasing numbers of economists, students, and even market professionals have protested the way economics is currently taught and practiced.

Facebook engaged in an elaborate bait and switch on user data: Privacy disappeared when competition did. Laws governing competition could change that.

Institute grantee Boyce cited for integrating ‘ecological, developmental and justice-oriented approaches’ into economics

Professors Roger Backhouse and Brad Bateman wrote an op-ed for the New York Times a few days ago, arguing that “thanks to decades of academic training in the “dentistry” approach to economics, today’s Keynes or Friedman is nowhere to be found” - we have stopped thinking big they say.

The contrasting ideologies at play in this tech sector mirror the conflicting ideologies in economics

[We are inaugurating something new in this blog: a jointly written post!]

The “War on Poverty,” and the impact of public policy

We continue to learn about what the Fed did during the crisis.

Predetermined profit margins and prices hidden in the back end of a transaction are really just market failures.

A look inside the byzantine world of online ads

In “The Ambivalence of Scarcity” which is my contribution to L’Enfer des choses. René Girard et la logique de l’économie, written by Jean-Pierre Dupuy and originally published in French in 1978, I attempt to apply mimetic theory to modern economics and to economicphenomena, and also to explain why economic issues and economics as a discipline occupy such an important place in the modern world.

INET is all about thinking new things, and indeed academia is supposed to inspire great thoughts.

Digital technology researcher and lawyer Dina Srinivasan discusses the ways in which digital tech companies such as Facebook and Google take advantage of their monopoly positions to the detriment of competition and of the public.

“To get into the mood for their [Charles Goodhart and Manoj Pradhan] ideas, you can listen to the authors talk about them to my colleague Stephanie Flanders on the Stephanomics podcast, or this podcast from the Institute for New Economic Thinking, or this episode of The Sound of Economics podcast from the Bruegel Institute.” — John Authers, Bloomberg

An interview with Professor Felwine Sarr, Professor of Economics at the Université Gaston Berger of Saint-Louis in Senegal, for INET’s series on COVID-19 and Africa

Unregulated, speculative lending markets nearly brought down the global financial system 10 years ago. Now, Western banks are exporting this failed model to the developing world.

Language has always been a way to divide, conquer, classify, and control, but it also helps to constitute who we are and what we think. 

Contrary to its image as a cash-strapped, transparent public service, Wikipedia is a wealthy NGO with close ties to big tech companies that it tries to obscure

New research shows how citation metrics create perverse incentives for corruption in economics

Judy Klein is Professor of Economics at Mary Baldwin College in Virginia. She is the author of Statistical Visions in Time: A History of Time Series Analysis 1662-1938, (Cambridge 1997) and co-editor of The Age of Economic Measurement (Duke 2001), and co-author of The Strange Career of Cold War Rationality (in preparation)

The Irresistible Force Meets the Immovable Object?

Ten years after Lehman Brothers’ collapse, the Wall Street casino is running amok

A comment on Goher-Ur-Rehman Mir and Servaas Storm’s Carbon Emissions and Economic Growth: Production Based vs Consumption-Based Evidence on Decoupling

The United States economy has come apart, with the rich getting richer and workers’ incomes not advancing at all.

The idea is finally catching on, but many still miss how deeply it’s driving inflation, masking wage losses, and complicating recovery.

Research by Thomas Piketty, partly funded by the Institute, shows that wealth and income gaps in China are now larger than Europe’s, and approaching those of the US

Looming behind the aforementioned narratives of postwar economics is a notion – economics as engineering – which at times appears as a metaphor and at times stands for a straight depiction of economists’ professional milieu and practices.

In the past decade, the volume of literature in the history of economics has been of 500 articles and just under 50 books a year. The graph below traces the count in two year intervals (articles left axis, books right axis). The absolute volume is stable but given the growth of economic literature in the period, stable might be rebranded as static.

Economic sanctions against Russia are adding to a major redistribution of income from workers and middle-class consumers to profits in international trade.