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

Harvard political philosopher Michael Sandel talks to Rob Johnson about the implications of the wave of protests sweeping the U.S. and their role in fomenting a spirit of civic activism.

INET board member Gaurav Dalmia and former Indian Finance Minister Jayant Sinha discuss how India can emerge from the pandemic with greater prosperity

James Manyika, Chairman of the McKinsey Global Institute, talks to Rob Johnson about the merits of protecting people, not jobs, in the face of the pandemic and automation

What happens when a market-based economy becomes a market-based society?

This time is different. But is it?

Until 2008, rising home values gave the middle class a cushion amid growing income inequality. But following the financial crisis, that wealth has failed to return.

Animal rights, child welfare, social equality are all a direct legacy of the “cult of feeling” 

A meditation on Vercelli, Vernengo and Levitt & Seccareccia

It doesn’t make sense to pay someone to rob you.

The solutions to Greece’s crisis challenge many existing economic paradigms, including the concept of “money” itself.

“That starts to take tech regulation to a place that’s more similar to financial regulation, which is where it should be. On that note, check out this very interesting INET paper by Dina Srinivasan, which looks at how Google monopolises advertising markets in ways that would be prohibited in other electronic trading markets.” — Rana Foroohar, Financial Times

Historian Lord Robert Skidelsky reads a letter that John Maynard Keynes wrote to Friedrich Hayek about “The Road to Serfdom,” and then discusses with Rob Johnson the tense relationship between the two famous economists.

Dr. Fatima Denton, Director of the Institute for Natural Resources in Africa at the United Nations University, Ghana, talks to Rob Johnson about the need for global cooperation and coordination in the wake of the pandemic.

Hilary Doe, the founder and president of the Michigan-based organization Scout, talks about the ways in which successful local projects can have profound effects on people’s consciousness about what is politically possible

Filmmaker Warrington Hudlin taks to Rob Johnson about the protests against police brutality, the long history of racial oppression in the U.S., and his adaptation of Les Misérables set in the outskirts of contemporary Paris.

Folashade Soule, Senior Research Associate at the Blavatnik School of Government at the University of Oxford, talks to Rob Johnson about Africa’s relationships with the United States and China in light of the pandemic.

Dr. Ming Lin spoke out about Covid safety at his hospital and was fired. He’s fighting back against a system that put profits over human life.

Focusing on what money really is – whether gold or state fiat – shifts attention away from what credit really is, which is to say away from the center of discontent.

A review of regional integration in Africa

The renowned economist reflects on the rise of neoclassical economics, the post-2008 surge of interest in non-mainstream, heterodox thought, and how young economists can remain independent in the face of biased evaluation systems

How to guide innovative AI efforts to increase labor demand and create better-paying jobs?

Two FT pieces by Tracy Alloway caught my eye this week: this article from Tuesday’s print edition, and this post on Alphaville today.

Dennis Kelleher, President of the NGO Better Markets, outlines how the financial system is serving the wealthy, how it has been reformed in the past and how it can be reformed again to serve Main Street instead of Wall Street.

Documentarian Paul Jay talks to Rob Johnson about how major investment fund managers, such as BlackRock, Vanguard, and State Street, exercise enormous control over public companies, where they use voting rights to stymie efforts to curb climate change.

From the Archives: In the wake of the Bear Stearns bailout in 2008, INET Research Director Tom Ferguson and President Rob Johnson say taxpayers rescuing banks are owed their due: “If the public is going to pay for [bailouts]… it should also get paid back for them.”

Economist James K. Galbraith warns that ‘unrealistic expectations’ by Athens’ creditors is a recipe for turmoil

As part of our “Experts on Trial Series”, Antonella Palumbo argues for stripping away ‘scientific’ shibboleths that mask social and political choices

On 25 September 2015, the United Nations General Assembly adopted the Sustainable Development Goals (SDGs), an ambitious policy agenda that aims to eradicate poverty, in all its forms and dimensions, by 2030.

Discussions on the key conceptual and policy themes for sovereign debt sustainability with a view to proposing possible policy reforms.

The advent of military Keynesianism is a warning against complacency about the moral superiority of the West in defending Ukrainian democracy.

Dan Breznitz, author of the book Innovation in Real Places, Strategies for Prosperity in an Unforgiving World, and professor of public policy at the University of Toronto, talks about how innovation ought to be guided if it is to be successful in addressing our most pressing problems.

INET’s Strategy Consultant Doug Carmichael talks about how many of our institutions, such as the economics profession, our political system, and our education system, are inadequate for dealing with the multiple crises we face.

Adair Turner, Chair of the Institute for New Economic Thinking, Lecture at School of Advanced International Studies, Johns Hopkins University, Washington DC April 10th 2018

Labor-saving advances in AI may undo the gains from globalization and pose new challenges for economic development

The economic historian would have seen the British vote to leave the European Union as part of a larger drama of centralization versus pluralism

I interviewed Victor Shih, political scientist at Northwestern, at INET’s Bretton Woods conference earlier this year.

“Hedge fund managers are torpedoing chances for a successful Green New Deal, according to Lynn Parramore, Senior Research Analyst for the Institute for New Economic Thinking. In her recent article “Meet the “New Koch Brothers” – the Hedge Fund Activists Wrecking America’s Green New Deal“, she talks about how corporate raiders are turning the direction of “green” corporate partners of battery development, software, wind turbines, and more away from long term energy conservation projects toward short-term money-making projects to increase the hedge fund shareholder returns.” — WORT 89.9 FM

“Hedge fund managers are torpedoing chances for a successful Green New Deal, according to Lynn Parramore, Senior Research Analyst for the Institute for New Economic Thinking. In her recent article “Meet the “New Koch Brothers” – the Hedge Fund Activists Wrecking America’s Green New Deal“, she talks about how corporate raiders are turning the direction of “green” corporate partners of battery development, software, wind turbines, and more away from long term energy conservation projects toward short-term money-making projects to increase the hedge fund shareholder returns.” — WORT 89.9 FM

Dennis Kelleher of Better Markets explains how we can stop the financial industry from gaming Washington

Hughes discusses his recent book Marketcrafters, and how markets are deliberately built with outcomes that can serve the public good – or not. He uses this lens to unpack today’s economic flashpoints, from the Fed to crypto to climate.

Economists and historians of economics have constructed different (and sometimes conflicting) narratives about the past of their field. In fact what is history for economists may not be what is history for historians. To celebrate its 125th anniversary, the Economic Journal invited renowned economists to discuss important contributions published in the past by the journal and the works on similar topics by historians of economics are absent from these accounts. History of economics here seems to have the weight of a JEL descriptor attached to an invited contribution, which we ought to agree that it is not much.

Author Supritha Rajan argues that self-interested competition may be the official line, but it’s far from the whole story

Remarks at a memorial service for pioneering financial analyst Jack Treynor Memorial, MIT Chapel, June 19, 2016

INET interviews Luigi Pasinetti

Neither the Rational Expectations Hypothesis nor behavioral finance approaches alone provides an adequate predictor of investor behavior, argues Roman Frydman

A trade war would undoubtedly hurt both sides. But there is reason to believe that the US has more to lose. If nothing else, the Chinese seem to know precisely which weapons they have available to them. China could stop purchasing US aircraft, impose an embargo.

Cybersecurity expert Muayyad Al-Chalabi assesses CrowdStrike’s update failure and its broader implications for cybersecurity in a discussion with Lynn Parramore.

But not by him

Geoff Mann, professor of geography at Simon Fraser University and co-author of the book, Climate Leviathan, discusses the authoritarian dangers ahead, as the world tried to cope with climate change, and how all institutions, including central banking, need to evolve so they address the problem adequately.

China is drowning in it. The whole world has too much of it. History suggests: This won’t end well.

The “dean of short sellers” says bitcoin is the last thing he’d want to own in the event of a catastrophe.

Nancy MacLean, history professor at Duke University, talks about the ways in which neoliberal economic icon Milton Friedman collaborated with segregationists and with right-wing billionaires in the pursuit of his goal of privatizing public education.

“The piece gives a series of case studies. Parramore summarized the problem: “Players on Wall Street have been torpedoing our chances of averting environmental catastrophe for years. A group of billionaire financiers has made sure the companies the government must partner with to fight climate change are focused on one thing only – making these men (they all seem to be men) even richer. Instead of leading the world in climate change technology, firms like Apple, GE, and Intel have been pressured to become the personal piggy banks of powerful moneymen — known as hedge fund activists — who can’t see beyond the next quarterly report.” — Institute for Public Accuracy

“Alberto Baccini, an economist at the University of Siena in Italy, says that people assessing research should be aware that the process can have an influence on academics’ behavior. ‘For each research assessment, you can find some behavior that changes in a way that is not desirable for society,’ he says. A 2019 study conducted by Baccini and colleagues found that researchers in Italy have been citing their own work or that authored by other researchers based at Italian institutions more frequently in response to a 2010 policy that is used to make decisions on promotions based on the number of citations researchers accumulate.” — INET Grantee Alberto Baccini

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. 

A new view of stock market instability under Knightian uncertainty

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

What can we learn from the Vietnamese, Cuban, Rwandan, and Syrian refugees crisis?

Equality runs deeper than economics textbooks or policy fashions suggest. Across disciplines, evidence increasingly links more equal societies to stronger well-being, greater social trust, and healthier democracies, challenging the assumption that fairness must come at the expense of prosperity or economic dynamism.

By suppressing important questions in favor of being cheerleaders for globalization, economists failed to influence the public conversation

Wang Hui, author of The Rise of Modern Chinese Thought, now available in English, provides conceptual guidance for understanding China’s intellectual progress in a conversation with INET’s Lynn Parramore.

The illusion of black swan-proofing

Author and peace activist Norman Solomon talks about the double standards in US foreign policy that have smoothed the path for Russia’s inexcusable invasion of Ukraine. The role of the military-industrial-complex in the US is one of the main reasons we lack a single standard for the use of military force and human rights, says Solomon.

RSS PUBLISHED TO eState4Column5©2013 Political Economy Group DK PEG Anti-Capitalist Chat TAGS Culture Economy Employment Media MMT PoliticalEconomy publicpolicy stagflation WhiteHouse Share this article Let real wages (of $15+/hour) grow faster than labor productivity for some years, undoing the wage repression of the last decades. We have been misled by neoliberal economics for now many decades, it’s time to turn many things around in what is becoming a second-rated US economy, recently crippled by the malevolent and narcissistic “king of debt”. In economics, stagflation or recession-inflation is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment. The biggest risk for the stock market in 2021 is inflation, according to Morgan Stanley. Unprecedented radical spending by the federal government and the Federal Reserve, to stave off a panic-induced market crash, helped artificially drive stocks to temporary new highs last year. www.laloftblog.com/… For some, the math bore out the possibility that exuberance was rational even if the economy is always more irrational than its math. “The Lucas fantasy of costless disinflation from credible commitments in an ergodic world of rational agents was decisively falsified long ago.” The underlying problems of supply shocks related to Trumpian idiocy atop bailing out the banksters may have made the economy much worse. The pandemic has only made a bad situation worse, or made more of us myopic in our isolation. Paul Krugman has now taken the time to question the orthodoxy of stagflation. Darn economic orthodoxy being wrong since the 1970s. Let me start with the inflation story the way most economists, myself included, have been telling. In the beginning was the Phillips curve: the apparent tradeoff, fairly visible in the data, between unemployment and inflation. In the 1960s many people looked at that tradeoff, considered the mild costs of inflation versus the benefits of lower unemployment, and argued for monetary and fiscal policies aimed at running the economy hot. But in a hugely influential speech Milton Friedman made an argument also independently made by Columbia’s Edmund Phelps: the unemployment-inflation tradeoff wasn’t real, because any sustained effort to keep unemployment low would lead not just to high inflation but to ever-accelerating inflation. They claimed, specifically, that people setting wages and prices would begin marking them up to anticipate future inflation, so that the inflation rate associated with any given unemployment rate would keep rising. They predicted, in particular, that the course of the economy over time would look something like this: https___bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com_public_images_81db75c8-59f2-4b95-a60a-fe404a50c119_914x5331.png First, a government would push unemployment down; but this would lead to ever-rising inflation, which would stay high even as the economy cooled. So it would take a sustained period of high unemployment to get inflation down again, until finally unemployment could be brought back to a sustainable level. So their analysis predicted “clockwise spirals” in unemployment and inflation. Then came the 1970s: https___bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com_public_images_1d91277a-44fe-422b-b0c3-f1dfa8fb7428_933x5501.png This sure looked like a dramatically successful out-of-sample prediction — sort of an economics version of “Light bends!” Almost everyone in the economics profession took the Friedman-Phelps analysis as confirmed. This in turn had big practical and intellectual consequences. First, governments and central banks stopped pursuing low unemployment, believing that excessively ambitious stimulus caused the stagflation of the 1970s. They began aiming for stable unemployment around the NAIRU —non-accelerating-inflation rate of unemployment — instead. Second, since the Friedman/Phelps prediction was based on trying to assess what rational price-setters would do, their apparent success gave a big boost to the notion that all economics should be based on maximizing behavior. Friedman always had too strong a reality sense to personally go down the rational-expectations rabbit hole that swallowed much of macroeconomics, but given the law of diminishing disciples it was bound to happen. Third, the whole affair gave a boost to conservative ideology. We had seemingly seem a demonstration of the limits to government action; also, the Chicago boys had seemingly been proved right about something big. (I remember classmates in grad school saying “They were right about this. Why don’t you think they’re right about the rest?”) Finally, the Volcker disinflation of the 1980s — using high unemployment to end high inflation — became, in many minds, the model of what responsible policymakers should do: make tough choices for the sake of the future. BUT WHAT IF WE’VE BEEN TELLING THE WRONG STORY ALL ALONG? […] But suppose something like this is true. In that case, the narrative that saw stagflation both as the cost of excessively ambitious macroeconomic policy and as a vindication of conservative economic ideas was mostly wrong. And that matters not just for history but for policy right now, which is still to some extent constrained by the fear of a 70s repeat. How do you ask someone to be the last worker to be unemployed for a mistake? paulkrugman.substack.com/… The reality in a response by Lance Taylor and Nelson Henrique Barbosa Filho is that “For practical purposes, the results mean that, for the Fed to meet its inflation target, it would be necessary to let real wages grow faster than labor productivity for some years, undoing the wage repression of the last decades. Biden’s $15 minimum-wage proposal is a correct step in that direction.” This is despite so many economists taking an opposite, more cautious position. — Daily Kos

Lori Wallach, of Public Citizen’s Global Trade Watch, and Jayati Ghosh, economics professor at UMass Amherst, discuss how first world countries are protecting pharma companies’ exorbitant profits, at the expense of vaccinating people living in the Global South and thereby also endangering everyone in the world.

Patrick Lawrence, writer and executive editor of The Scrum, analyzes the roots of US foreign policy failures, how these are reflected in the current confrontation with Russia, which can be found the US establishment’s weddedness to power and to an unwillingness to see the other’s perspective.

INET board member and Othering & Belonging Institute Director john a. powell discusses the ways in which the pandemic intersects with racial inequality and how government policy could address both problems at the same time.

Remedies have failed to produced growth and reduce indebtedness because they’re focused on protecting toxic behavior by banks in Europe’s core countries

Jeff Sachs talks with Rob Johnson about US-China relations, the tragedy of modern geopolitics, and how our current race to the bottom could be reversed.

The Young Scholars Initiative and its working groups will be hosting meetings and discussions in and around the 2017 Trento Festival of Economics. 

A Nobel Prize-winning economist and the second-most-famous democratic socialist in America sit down together

In Friday’s FT, former Morgan Stanley trader Douglas Keenan traces banks’ LIBOR manipulations back to 1991, when he observed, from the futures desk, LIBOR fixings come in at levels different from where he new the market to be.

Barron’s

Mott walks us through answers many careful readers of Kalecki, Keynes, Steindl, and Minsky knew all along.

An excerpt from the just released book, The Outlier, by Kai Bird

A little-understood rule in the tax code is making headlines. What’s all the fuss?

“Just learn to live with it” policies subject children to an experiment with a systemic disease that does serious and lasting damage, warns former NASA and DARPA technologist

Recent austerity policies have been guided by ideology rather than research. This column discusses research that reconciles disparate estimates of fiscal multipliers in the literature. It finds that common identification assumptions are problematic. Matching methods based on propensity scores show how contractionary austerity really is, especially in economies operating below potential.

Should antitrust law focus primarily on measurable performance outcomes such as price and output as indicated by Robert Bork’s Consumer Welfare Standard? Or is it more important to concentrate on whether conduct undermines the competitive process itself as per the newly revitalized Protect Competition Standard?

World-renowned economist and inequality researcher Thomas Piketty in conversation with Rob Johnson, about Piketty’s just-released book, A Brief History of Equality.

FT Alphaville has picked up on my friend James Sweeney’s latest, and since James cites the latest writings by other friends Zoltan Pozsar, Manmohan Singh, as well as my own most recent, the piece reads like a discussant’s comments on a shadow banking symposium.

From political slugfests to classroom battles, historian Marc Egnal talks with INET’s Lynn Parramore about the need for a new approach to our national story.

How did this dire situation come about?

There are several reasons why unprecedentedly low interest rates will probably not stimulate demand and may even threaten financial stability

Sense about Social Security

On the passing away of Victoria Chick

Inadequate demand and climate change require a global green new deal

In a replay of INET Live’s webinar, following the COP26 climate conference in Glasgow last December, Richard Kozul-Wright of UNCTAD, Patrick Bond of the University of Johannesburg, and author Maude Barlow discuss the disproportionate impact climate change has on the developing world and the ways to best address it.