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Will Abenomics succeed in getting Japan’s economy back on the path to sustainable growth? Or is it doomed to fail?

Political meritocracy is the idea that a political system is designed with the aim of selecting political leaders with above average ability to make morally informed political judgments. That is, political meritocracy has two key components: (1) the political leaders have above average ability and virtue and (2) the selection mechanism is designed to choose such leaders.

Inequality has emerged as a major economic issue: sharp increases in the share of income going to those at the very top of the income distribution, a rising share of income going to profits, stagnant real wages, and a fall in median family income have raised concern over the sustainability of our economies and societies.

The Consumer Welfare Standard is severely limited or defective, preventing it from being an appropriate standard for modern antitrust.

Why do economists avoid ethics, and over-simplify harm?

Economics can do better, and the change starts with you.

Greg Mankiw says there should be a market for kidneys, but not for paying drug addicts to get sterilized.

Real News Network interviews INET Research Director Tom Ferguson about his new paper on money and the 2016 U.S. presidential election.

If the government/CB together finance an increased fiscal deficit with permanent non-interest-bearing fiat money, then some private sector agents have to hold non-interest-bearing monetary base, and must continue to do so even when policy and market interest rates have moved away from the ZLB. How is this possible in an environment where most bank deposit money is potentially interest-bearing?

We investigate the effects of government spending on U.S. economic activity using a threshold version of a structural vector autoregressive model.

Professor Casarico explains why her focus on gender and the “glass ceiling” can help us push forward economic thinking.

A country that produces goods of high quality at a competitive price is likely to be rewarded for its ingenuity with a trade surplus. Small countries often achieve great development success through export-led growth. At the same time, the entire economic system must be balanced.

Italy was one of the worst hit during the 2007–2009 global financial crisis (GFC) among the major advanced economies. By year-end 2009, Italy’s economy had contracted by 6.6 percent; significantly larger than the recessions in the euro zone and the United States, for example, which saw their GDPs shrink by 4.4 and 3.1 percent, respectively.

How inflationary inertia, driven by distributional conflict, disrupts the economy’s path to an effective demand equilibrium.

Distinguished Public Lecture on “Making India a Prosperous and Happy Nation @100”, by Dr. Ajay Chhibber, Distinguished Visiting Scholar, Institute for International Economic Policy, Elliott School of International Affairs, George Washington University on Tuesday, 22 March 2022.