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The 2008 financial meltdown wiped out what was left of the savings of millions of American families, but Professor Edward Wolff says decades of income inequality had set the stage for the collapse of their household wealth.

Investigating race as a driver of economic destiny.

The paper argues that household budgets are the best starting point for investigating a number of big questions related to the evolution of the living standards during the last two-three centuries.

While the Neoliberal movement’s concerns extend into a broad political reorganization of society, it remains intimately connected with neoclassical economic thought.

The topic of this session of the INET conference is a question: does the effectiveness of fiscal policy in stabilizing an economy depend on the underlying economic context in which the policy is implemented?

The paper deals with the mysterious persistence of the Chicago approach as the main analytical engine driving antitrust enforcement in the US.

John Kay’s thought-provoking essay The Map is Not the Territory: An Essay on the State of Economics argues that economists have been led astray by excessive reliance on formal models derived from assumptions that bear too little similarity to the world we live in.

Ambiguous private information leads to informational inefficiency of asset prices in rational expectations equilibrium.

The 2007-2009 financial crisis initially appeared to have destroyed a huge amount of wealth in the U.S.

Financial fragility does not fall from the sky. That’s why treating risk as if it comes from exogenous shocks can’t capture the reality of financial markets.

This episode features David Vines of Oxford University talking about the euro crisis. Can the monetary union survive the crisis?

In standard economics, inequality in outcomes is typically attributed to inequality of inputs, for example, from differences in education. Yakovenko thinks about inequality in a different way by extending some ideas from statistical physics.

Ajay Kela on creating a culture of entrepreneurship in India.

Institute President Rob Johnson interviews David Cay Johnston about his new book, Divided: The Perils of Our Growing Inequality.