Archive
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Article
Victoria Chick (1936-2023)
Feb 6, 2023
On the passing away of Victoria Chick
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Article
The Quasi-Inflation of 2021-2022: A Case of Bad Analysis and Worse Response
Feb 2, 2023
Why the conventional tools of the Phillips Curve, NAIRU, potential output, and money-supply growth are useless
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Article
Luigi Pasinetti (1930-2023)
Feb 1, 2023
On the passing away of Luigi Pasinetti
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Article
The Post-Covid Global Economy: Could Negative Supply Shocks Disrupt Other Fragile Systems?
Jan 26, 2023
Possible repercussions of economic crisis on the stability of democracies that already show significant signs of fragility
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Article
How the Crypto Hustle Carries on America’s Shameful History of Racial Inequality
Jan 24, 2023
Cryptocurrency was supposed to change the economic outlook for Black America. For many, it made things worse.
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Article
Monopsony in Professional Labor Markets: Hospital System Concentration and Nurse Wage Growth
Jan 19, 2023
Growing consolidation in localized hospital markets appears to restrict nurse wage growth
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Article
The Rise of the Global Dollar System
Jan 11, 2023
Why does the apparently prescient and correct “key currency” view remain an embattled minority view?
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Article
The War in Ukraine and the Revival of Military Keynesianism
Jan 9, 2023
The advent of military Keynesianism is a warning against complacency about the moral superiority of the West in defending Ukrainian democracy.
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Article
Time Bomb in Global Finance
Jan 4, 2023
A Bank for International Settlements study says 60+ trillion dollars of off-the-books currency swaps could be a profound, systematic risk. Robert Johnson joins Paul Jay on theAnalysis.news.
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The Great Inflation Debate: Supply Shocks and Wealth Effects in a Multipolar World Economy
Jan 3, 2023
Setting the record straight and identifying less destructive pathways forward than round after round of interest rate increases.
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Article
Meet the Grinch Stealing the Future of Gen Y And Z
Dec 20, 2022
Salaries in the U.S. aren’t keeping up with inflation, despite pandemic-related increases in some sectors. That’s a major threat to the future for all working Americans – especially the youngest.
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High-level Panel Discussion: Development Prospects in a Fractured World
Dec 15, 2022
As 2022 comes to a close, panelists discuss the immediate prospects for the global economy, the dangers of a lost decade for developing countries and what needs to be done to put the SDGs back on track.
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Bankman-Fried, Political Money, and the Crash of FTX
Dec 15, 2022
How Showering Money on Both Parties Paralyzed Regulators
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Article
Why Economists Should Support Populist Antitrust Goals
Dec 13, 2022
Despite the accumulation of serious and unsolvable problems, the Consumer Welfare Standard survives and continues to be taught to students for reasons unrelated to theoretical consistency and empirical confirmation.
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Article
Il faut une analyse désagrégée des conséquences de la guerre en Ukraine sur les économies en Afrique de l’Ouest
Dec 13, 2022
Entretien avec Gilles Yabi, directeur exécutif du Think Tank ouest-africain WATHI, sur la sécurité alimentaire en Afrique
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The Impact of the War in Ukraine on West Africa Requires a Disaggregated Analysis
Dec 12, 2022
An interview with Gilles Yabi, executive director of the West African Think Tank WATHI, on food security in Africa
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Article
Sick with “Shareholder Value”: US Pharma’s Financialized Business Model During the Pandemic
Dec 6, 2022
Evidence sharply contradicts PhRMA’s contention that its member companies need unregulated drug prices to generate profits that they then reinvest in drug innovation.
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Food Security in Africa: “This Crisis Has Shown the Limits to Africa’s Resilience”
Dec 1, 2022
“We risk a global decoupling in which East and West face off in a cold war, and Africans are caught in the middle,” says Professor Carlos Lopes in an interview with Folashadé Soulé and Camilla Toulmin
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Top Antitrust Expert: We Need a New Approach to Giant Tech Firms Like Google
Nov 28, 2022
Economist Cristina Caffarra, a leader in competition and antitrust, warns that ever-expanding tech giants raise concerns about the extent of their power.
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Article
Dollar Dominance is Financial Dominance
Nov 23, 2022
What Strategies can Break This Dependency?
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Article
Worker’s Wages & Leverage Are the Real Targets
Nov 18, 2022
Why did Corporate Democrats “cede” the economic argument? Are they really fighting inflation or trying to weaken workers’ bargaining power? INET’s Thomas Ferguson joins Paul Jay on theAnalysis.news.
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You’re Living in a World Wrought by the Federal Reserve. Notice Anything Wrong?
Nov 17, 2022
In her new book, veteran Wall Street watcher and economist Nomi Prins warns that central bank strategies deployed since the financial crisis are destroying the real economy, worsening inequality, and creating societal chaos.
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Green Power Pools and Electricity Pricing: Practical Ways Out of the UK Energy Crisis
Nov 15, 2022
The current energy market structures, including the short-run-marginal-price-on-all nature of the current wholesale market, are not fit for a transition to a renewables-dominated system.
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Sécurité alimentaire en Afrique: « Nous apportons des réponses de court terme à des problèmes de moyen-long terme »
Nov 10, 2022
Quels sont les problèmes à long terme qui doivent être résolus et quelles sont les solutions disponibles?
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Food Security in Africa: “We Are Bringing Short Term Responses to Long Term Problems”
Nov 10, 2022
What are the long-term problems that need to be addressed and what solutions are out there?
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Article
Trump and the Republican Base: A Machine Learning Approach (Revisited)
Nov 7, 2022
Economic issues are a primary part of Trump’s appeal to his base
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Article
Collateral Damage From Higher Interest Rates
Nov 5, 2022
Why to Be Wary of Another Volcker-Type Monetary Tightening
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Article
New Research Shows “Hostile Sexism” in Congress Thwarts Female Leaders. Just Ask Janet Yellen.
Nov 2, 2022
The debilitating challenges women face in being heard are detrimental to economic prosperity and to democracy itself.
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How Corporations “Get Away With Murder” to Inflate Prices on Rent, Food, and Electricity
Oct 19, 2022
Antitrust expert Hal Singer shows how big businesses in certain industries are taking advantage of inflation worries to jack up prices far beyond their cost increases, all the while raking in robber-baron profits.
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Article
A Nobel Award for the Wrong Model
Oct 18, 2022
Diamond-Dybvig-Bernanke is a flawed model of banking that has no room for a lender of last resort
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Bernanke v. Kindleberger: Which Credit Channel?
Oct 13, 2022
In the papers of economist Charles Kindleberger, Perry Mehrling found notes on the paper that won Ben Bernanke his Nobel Prize.
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Big Tech: Not Only Market But Also Knowledge and Information Gatekeepers
Oct 4, 2022
How do we regulate an information utility?
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Economist Offers Stark Climate Reality Check. Plus a Bit of Science-Based Hope.
Sep 27, 2022
In a new book, Alligators in the Arctic and How To Avoid Them, Peter Dorman shows how flawed academic models, faulty assumptions and unrealistic schemes grossly underestimate what’s needed to stop catastrophic warming. He argues for a straightforward carbon emission budget – plus the active citizenship required to fight big businesses that want to keep doing business as usual. Lynn Parramore explores his findings and talks to the economist about the path forward.
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The Inflation Reduction Act (IRA): A Brief Assessment
Sep 15, 2022
Servaas Storm’s commentary for an INET symposium on the Inflation Reduction Act
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How Inflation Reduction Became Export Promotion
Sep 15, 2022
Thomas Ferguson’s commentary for an INET symposium on the Inflation Reduction Act
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Electricity Markets, Climate Change, and the European Energy Crisis
Sep 5, 2022
Price inflation, marginal cost pricing, and principles for electricity market redesign in an era of low-carbon transition
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Your Summer Holiday Spot Needs Climate Action Now
Sep 2, 2022
Because global warming doesn’t take a holiday
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6 Economic Experts Reveal the Truth About the Inflation Reduction Act
Aug 30, 2022
Is it good for your wallet? A climate bill in disguise? Landmark action or nothingburger? Economic experts assess the Democrats’ legislative victory for the Institute for New Economic Thinking.
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Beware of Toxic Innovation
Aug 29, 2022
How big tech barons crush innovation—and how to fight back
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Article
Goats and Graduate Students: Working with and Learning from Lance Taylor
Aug 24, 2022
In memory of Lance Taylor
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China’s Development Path: Indigenous Innovation and Global Competition
Aug 22, 2022
China’s successful technological development path stands in contrast to the corporate financialization model in the United States
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Does Nature Have Rights?
Aug 16, 2022
Ruskin scholar Jeffrey Spear, author of “Dreams of an English Eden: Ruskin and his Tradition in Social Criticism,” discusses how the insights of a key 19th-century thinker can help us build a new paradigm for protecting the planet – and save us from ourselves.
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In Tribute to Lance Taylor (1940 - 2022)
Aug 16, 2022
Everyone at INET is saddened by the news that our colleague Lance Taylor passed away on Monday, August 15th, 2022. His loss leaves a giant hole in our hearts as well as in the field of economics. His talents and achievements were prodigious and we will miss his cheerful and inspiring presence. Words help little on such occasions, but we would like to extend our condolences to his wife Yvonne, and his children Signe and Ian.
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America, Land of the Dying? Alarming Study Shows U.S. Killing Its Own Population
Aug 8, 2022
Researchers find that the nation had become an outlier among other rich countries in mortality rates long before the pandemic – and that Americans are dying younger than their peers abroad.
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How Public Real Estate Investment Trusts Extract Wealth from Nursing Homes and Hospitals
Aug 1, 2022
Real Estate Investment Trusts (REITs) are considered “passive” investors and are exempt from corporate tax. But in reality, they play a very active role in reshaping whole industries, like healthcare.
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What Happens when Big Brother Meets Big Tech
Jul 13, 2022
Author and law professor Maurice Stucke warns that as fundamental privacy rights vanish, your personal data can and will be used against you.
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What A Green Monetary Policy Could Look Like
Jul 12, 2022
Central banks can encourage climate-friendly investments by offering financial institutions favorable haircuts on green collateral
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Wage Stagnation and Productivity: Challenging the Conventional Analysis
Jul 7, 2022
Stagnating real wages may have contributed to the slowdown of US productivity
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Article
The Fed Tackles Kalecki
Jun 30, 2022
Ratner and Sim’s “Who Killed the Phillips Curve – A Murder Mystery”
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The Lost World of Sovereign Bankruptcy and the Future of Government Default
Jun 29, 2022
Pari passu clauses were deliberately crafted to gain an upper hand in sovereign bankruptcy disputes brought to the London stock exchange’s jurisdiction
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Why The Ukraine Crisis Will Make Little Difference to Dollar Supremacy
Jun 24, 2022
The depth of the U.S. securities market helps ensure dollar hegemony
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A Comment on Lysandrou and Nesvetailova
Jun 24, 2022
James K. Galbraith responds on the U.S. dollar system
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The World Trade Organization After the 12th Ministerial Conference
Jun 22, 2022
New mandates must beget new organizing
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What Does Capitalism Repress? A Jungian Perspective.
Jun 17, 2022
Billions living in insecurity and injustice is hardly a rational system.
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A Playlist That Conjures the Ferocity and Flair of Detroit
Jun 16, 2022
How can we develop a deeper, more human and multifaceted understanding of the past?
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Gun Money Predicts Congressional Voting Better Than Party Alone
Jun 15, 2022
An analysis of gun lobby contributions to Republicans and Democrats
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Why What’s Going on Right Now at the WTO Matters
Jun 10, 2022
Besides the crucial COVID-19 vaccine patent waiver, far more is at stake at this ministerial than is generally known.
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Inflation in a Time of Corona and War
Jun 6, 2022
Evidence-based answers to the main (policy) questions concerning the return of high inflation
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The Libertarian Anti-Apartheid White Supremacy of W.H. Hutt
Jun 2, 2022
James M. Buchanan’s defenders argue he was not racist because of his ties with the anti-apartheid economist W.H. Hutt, but this defense fails miserably
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Axel Leijunhufvud, Wide-Ranging Economist
Jun 1, 2022
An obituary for Axel Leijunhufvud (Sept 6, 1933 - May 5, 2022)
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Giant Tech Firms Plan to Read Your Mind and Control Your Emotions. Can They Be Stopped?
May 31, 2022
Author and law professor Maurice Stucke explains why the practices of Google, Amazon, Facebook, and Apple are so dangerous and what’s really required to rein them in. Hint: Current proposals are unlikely to work.
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Your Money and Your Life: Private Equity Blasts Ethical Boundaries of American Medicine
May 18, 2022
In a harrowing new book, scholar Laura Katz Olson pulls back the curtain on a shadowy Wall Street threat that is taking over health care companies – and preying on human lives.
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The Dollar System in a Multi-Polar World
May 5, 2022
The multipolar financial world is here. The United States can survive it – but only with major political and economic changes at home. It’s time to start thinking about what those need to be.
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Abortion Drugs Fundamental to Ancient Economies, Argues Historian
Apr 29, 2022
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.
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What Really Drives Long-Term Interest Rates?
Apr 29, 2022
Contrary to the neoclassical loanable funds theory, historical bond yields show Keynes was right that “convictions” anchor long-term interest rates
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How Economics Found Science …and Lost its Subject Matter
Apr 27, 2022
Re-evaluating the “equality-efficiency” trade-off
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Data Competition Won’t Protect Your Privacy
Apr 13, 2022
Regulators propose democratizing data and encouraging competition to reign in Big Tech. But such moves won’t go far enough in protecting user privacy. New: A reply to critics
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The Ukrainian War and the End of Globalization?
Apr 11, 2022
Economic sanctions against Russia are adding to a major redistribution of income from workers and middle-class consumers to profits in international trade.
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A Sobering View of High Fuel Prices, Green Energy, and Biden’s Plans to Help Europe
Apr 6, 2022
Veteran researcher sheds light on what’s going on, how long the pain might last, and possible paths forward.
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Event Video: MLK 55 Years Later: Can The Church Study War No More?
Apr 4, 2022
On April 4th, 1967, at a time when the justness and necessity of the Vietnam War was broadly accepted, Dr. King issued a stirring rebuke of the U.S. establishment. He was criticized heavily for challenging US foreign policy; he was told to stick to civil rights.
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Letter to SEC: How Stock Buybacks Undermine Investment in Innovation for the Sake of Stock-Price Manipulation
Apr 1, 2022
A comment on the Securities and Exchange Commission’s proposed rule “Share Repurchase Disclosure Modernization”
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The Economic Case for Neo-Brandeisian Antitrust Goals
Mar 30, 2022
The Consumer Welfare Standard of antitrust is outdated and defective
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Lecture: Making India a Prosperous and Happy Nation at 100
Mar 30, 2022
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.
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On the Origins of Economic Cycles (and the Appeal of Keeping Models Simple)
Mar 22, 2022
An alternative to Dynamic Stochastic General Equilibrium (DSGE) models
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At What Point Does a Billionaire’s Greed Hurt the Rest of Us?
Mar 21, 2022
The social cost of America’s economic royalty
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Article
Our Economic System is Making Us Mentally Ill
Mar 18, 2022
The neoliberal economy was supposed to bring about a utopian world order. Instead, it gave us crippling psychological stress and social breakdown. How can we ever recover?
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Paper: Fragility and Resilience in Green Development in Africa: Intersections and Trade-offs
Mar 17, 2022
Fragility and Resilience in Green Development in Africa: Intersections and Trade-offs
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Article
We Need to Learn From the Fight Against HIV/AIDS—and Its Mistakes—to Tackle COVID-19
Mar 16, 2022
An interview with INET Global Commissioner Winnie Byanyima
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Special Drawing Rights and Elasticity in the International Monetary System
Mar 15, 2022
How could the new SDR allocation help developing countries?
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Paper: Digital Access and Economic Transformation in Africa
Mar 14, 2022
An overview of the current digital access landscape in Africa
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Top Economist: America’s Racist Economy Getting Worse, Not Better
Mar 8, 2022
Lynn Parramore explores Peter Temin’s new book on the country’s two economic histories: progress for whites, slavery and segregation for Black people. He warns of a second-tier global future unless they come together.
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Where Did You Go, Vice President Joe?
Mar 4, 2022
President Biden’s first SOTU Address was a missed opportunity to say what he knows to be true: Stock buybacks manipulate the market and leave most Americans worse off
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The Impact of Campaign Finance on Congressional Voting: A Machine Learning Approach
Mar 3, 2022
Legislators who vote together get paid together
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African Americans in Tech: What the EEO-1 Numbers Reveal
Feb 22, 2022
EEO-1 employment data document the vast over-representation of Asian Americans and vast under-representation of African Americans at tech companies in recent years. How did this happen?
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Resource Limits to American Capitalism & The Predator State Today
Feb 10, 2022
VIDEO
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How to Deal with a “Bretton Woods Moment”
Feb 10, 2022
A new global economic system has to be based on a key principle of Bretton Woods: multilateralism
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Revealed: New Insight into What Really Drives the Stock Market
Feb 9, 2022
In a new book, How Novelty and Narratives Drive the Stock Market, economist Nicholas Mangee examines the influence of stories on stock market outcomes in an uncertain world.
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Beyond Price Caps: A Regulatory Framework for Pricing of Medicine Innovation
Feb 3, 2022
US regulators can step in to ensure drug pricing both supports patient access and drug development
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Paper: Demography, Inclusive Growth and Youth Employment in Africa
Jan 26, 2022
The youth paradox is accentuated by the effects of Covid-19, while the concrete short- and medium-term prospects for young people remain unclear.
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How Inequality Leads to Industrial Feudalism
Jan 24, 2022
In a society where asset ownership is incredibly unequal, social mobility becomes severely diminished
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Paper: Regional and Continental Integration in Africa in the Covid-19 Era: New Drivers and Perspectives
Jan 20, 2022
A review of regional integration in Africa
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Fable of the Squirrels: New Research on Wealth Inequality Among Animals Sparks Debate on Human Economies
Jan 18, 2022
Researchers studying beasts that pass on resources and advantages to offspring have raised the old question of whether humans are destined to live in stratified conditions. Your view may depend on your relative position.
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Automotive Value Chains in a Brave New World
Jan 11, 2022
The pandemic and electrification are shaking the foundations of the auto industry
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Fateful Collision: NATO’s Drive to the East Versus Russia’s Sphere of Influence
Jan 7, 2022
How did this dire situation come about?
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Is the Doom of Humanity Really Inevitable? Maybe Not.
Jan 4, 2022
Evidence reveals our remote ancestors were neither brutes nor innocents, but complex beings whose experiments in living have much to teach us. Welcome news as disaster looms in every direction.
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Introducing the Novelty-Narrative Hypothesis
Dec 16, 2021
A new view of stock market instability under Knightian uncertainty
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Models of Temperature and Economic Growth: Some Cautionary Remarks
Dec 14, 2021
Many studies of the effect of climate change on GDP seriously mislead the research community, policymakers, and the general public.
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Remembering Geoffrey Harcourt (1931 - 2021)
Dec 10, 2021
The INET community mourns Harcourt’s passing
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Should Central Bank Liquidity Provision Be a Vehicle for Fiscal Discipline?
Dec 8, 2021
By helping abate the liquidity crisis, incidences of banks becoming insolvent are reduced, and hence moral hazard in its severest form is minimized.
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Looking for a Libertarian Who’s Not Afraid of History
Dec 2, 2021
A response to Phillip Magness in The Wall Street Journal