249 Results for “stiglitz”
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Article
Free Market or Socialism: Have Economists Really Anything to Say?
Jan 14, 2020
On the Modern Economic Theory of Incentives, Markets, and Socialism
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Article
Secular Stagnation: The Limits of Conventional Wisdom
Oct 1, 2019
Summers and Stansbury mark a dramatic shift from New Keynesian orthodoxy, but only make it halfway to understanding the demand-driven nature of stagnant growth
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Article
Kalecki, Minsky, and “Old Keynesianism” Vs. “New Keynesianism” on the Effect of Monetary Policy
Sep 11, 2019
Mott walks us through answers many careful readers of Kalecki, Keynes, Steindl, and Minsky knew all along.
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Site Pages
Resources for the Media
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Article
Ideology is Dead! Long Live Ideology!
Aug 12, 2019
Economists like to say they’re immune from ideological influence. Our research shows the opposite.
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Article
The Myth of Expansionary Austerity
Jul 8, 2019
It was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.
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Article
Capitalism’s Great Reckoning
Jun 24, 2019
As the maladies of modern capitalism have multiplied, fundamental questions about the future of the world’s dominant economic model have become impossible to ignore. But in the absence of viable alternatives, the question is how to reform a system that is increasingly at odds with democracy.
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Article
Modern Monetary Inevitabilities
May 31, 2019
For all the talk of Modern Monetary Theory representing a brave new frontier, it is easy to forget that the United States has gone down this road before, when the US Federal Reserve financed the war effort in the 1940s. Then, as now, the question is not about government debt, but about the debt’s purpose and justification.
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News
Pope Francis Joins Joe Stiglitz and Rob Johnson in Creating New Economic Thinking
May 13, 2019
INET Global Commission to collaborate with Pope Francis and Scholas Occurrentes on bringing the voices of young people into the economics profession
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Grant
Years granted: 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020INET Taskforce in Macroeconomic Efficiency and Stability: Networks and Externalities
The INET Taskforce in Macroeconomic Efficiency and Stability, chaired by Professor Joseph Stiglitz, focuses on the inefficiencies and instabilities that arise from the interaction of agents and institutions operating in networks and from pervasive macro-economic externalities, as well as on the macroeconomic inconsistencies that may result from those interactions.
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Research Program News
Global Commission Discusses Macroeconomics and Finance in New York
Mar 11, 2019
The latest meeting of INET’s Commission on Global Economic Transformation addressed the flaws in existing macroeconomic and financial models—and explored solutions to foster shared prosperity
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Video
Joe Stiglitz: The Challenges Facing China
Mar 6, 2019
The Nobel laureate economist discusses how an activist government is needed to tackle problems like climate change
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Research Program
Commission on Global Economic Transformation
Chaired by Nobel laureates Joseph Stiglitz and Michael Spence, INET has assembled a global team of leaders and scholars calling for new thinking & new rules for the world economy
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News
New Economic Thinking at AEA 2019
Jan 7, 2019
This year’s American Economics Association conference featured INET researchers, a cocktail reception, and a new interactive poll
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Video
A Market for Votes?
Nov 16, 2018
Michael Sandel and Joe Stiglitz discuss why selling votes is bad for democracy, and how individual self-interest doesn’t always serve the public good
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Article
U.N. Secretary-General Meets with INET Global Commissioners
Nov 12, 2018
António Guterres and CGET Commissioners discuss cooperating on inequality, climate change, multilateralism, and more
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Article
Joseph Stiglitz and Alexandria Ocasio-Cortez Talk Social and Economic Justice
Sep 25, 2018
A Nobel Prize-winning economist and the second-most-famous democratic socialist in America sit down together
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Article
A Better Bailout Was Possible
Sep 20, 2018
Back in 2008, a critical opportunity was missed when the burden of post-crisis adjustment was tilted heavily in favor of creditors relative to debtors. The result was not only prolonged stagnation, but also the Republican Party’s embrace of demagogic populism and the election of Donald Trump.
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Collection
Summers vs. Stiglitz
Been following Larry Summers and Joe Stiglitz’s debate over secular stagnation? Check out their INET work on the topic here and decide for yourself who makes the better case.
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Article
Ending the Wild West of Sovereign Debt Restructuring
Jul 23, 2018
Clear rules and sound principles for debt restructuring would level the playing field between developing countries and creditors
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Article
The Roots of Argentina’s Surprise Crisis
Jun 12, 2018
A change in macroeconomic policies will not be sufficient to set Argentina on a path of inclusive and sustained economic development. But, as last month’s currency scare showed, abandoning the approach adopted by President Mauricio Macri’s administration at the end of 2015 is a necessary step.
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Article
The Real Driver of Rising Inequality
May 1, 2018
Wage suppression—not monopoly power—is fueling corporate profits and the growing gap between rich and poor
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News
Times Now News: America has been afflicted by an ideology that doesn’t work, says Joseph Stiglitz
Apr 30, 2018
Nobel laureate Joseph Stiglitz, in an exclusive interview with timesnownews.com, talks about what is wrong with current American capitalism, rise of a new kind of politics emerging from dissent towards government and more. Here are some excerpts from the interview.
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Article
How to Grow the Economy While Reducing Inequality
Apr 27, 2018
For the BRICS countries to not just grow their economies but also raise the standard of living of their people, inclusive growth that prioritizes poverty reduction is a must
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Video
What Money Can't Buy
May 23, 2018
What Money Can’t Buy is a six part series exploring the role of money and morals in today’s world.
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Webinars and Events
Kerner Commission Public Forum Race and Inequality in Trump’s America
ConferenceApr 20, 2018
Nobel laureate Joseph Stiglitz, Mayor of Newark Ras Baraka, CEO of the Campaign for Black Male Achievement Shawn Dove, Pulitzer-prize winning author Heather Ann Thompson and more discuss race and inequality in Trump’s America Friday, April 20th 5-7pm.
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Article
Luigi Pasinetti on Disrupting Neoclassical Hegemony in Economics
Mar 20, 2018
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
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Article
INET Research in a Stressful Year
Feb 23, 2018
In the face of laissez-faire capitalism at home and resurgent nationalism across the globe, INET offers an innovative look at the causes of—and solutions for—the problems that ail a fissuring world economy.
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Article
Financial Markets Have Taken Over the Economy. To Prevent Another Crisis, They Must Be Brought to Heel.
Feb 13, 2018
Banks have long had undue influence in society. But with the rapid expansion of a financial sector that transforms all debts and assets into tradable commodities, we are faced with something far worse: financial markets with an only abstract, inflated, and destabilizing relationship with the real economy. To prevent another crisis, finance must be domesticated and turned into a useful servant of society.
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Webinars and Events
Financial Networks
ConferenceBig Risks, Macroeconomic Externalities, and Policy Commitment Devices
Feb 23–24, 2018
The objective of the conference is to exchange perspectives on the risks posed by financial networks, and the role these networks play in the well-functioning of the real economy.
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Video
How to Rewrite the Rules of Globalization
Jan 10, 2018
How did globalization create such discontent in developed and developing countries alike? Nobel laureate and INET grantee Joseph Stiglitz explains in this 150th episode of our “New Economic Thinking” video series.
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Working Paper
Conference paperInnovation, Intellectual Property, and Development
Oct 2017
A better set of approaches for the 21st century.
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Conference Session
Redefining Inequality
Oct 22, 2017 | 06:30
As the old lines continue to shift, what does inequality mean in the modern global economy? And, how does the economy need to evolve to address these changes?
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Video
Redefining Inequality
Nov 8, 2017
As the old lines continue to blur, what does inequality mean in the modern global economy? And, how does the economy need to evolve to address these changes?
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Video
Commission on Global Economic Transformation Announcement
Nov 6, 2017
Several founding CGET members announce the ambitious project and respond to questions from the press.
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Research Program News
Inequality Is Biggest Danger for Global Growth, Warn Top Economists (Bloomberg News)
Oct 24, 2017
This article originally appeared on Bloomberg
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News
Euractiv: Catalonia, a viable independent state?
Oct 23, 2017
“Nobel laureate Joseph Stiglitz tells EURACTIV.com that the region would be accepted in the EU and therefore become a viable independent economy if it applied, but the former chair of the UK’s Financial Services Authority Adair Turner disagrees.”
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Research Program News
Institute for New Economic Thinking uses Edinburgh conference to unveil new initiative to 'transform' global economy (Business Insider UK)
Oct 23, 2017
This article originally appeared on insider.co.uk
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News
CommonSpace: Nobel prize-winning economist makes the case for Scottish independence in the EU
Oct 23, 2017
Commission on Global Economic Transformation member Joseph Stiglitz argues that an independent Scotland in the EU would “resolve a lot of the uncertainties” of Brexit at INET’s Reawakening conference in Edinburgh
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News
Nobel Laureates to Co-Chair Independent Commission on Global Economy
Oct 22, 2017
Joseph Stiglitz, Michael Spence and a global team of leading thinkers are calling for new thinking & new rules for the world economy
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Research Program News
Nobel laureates Joseph Stiglitz and Michael Spence head commission to tackle problems of global economy (Sunday Times)
Oct 22, 2017
This article originally appeared in The Sunday Times of London
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News
Bloomberg: Nobel Laureates Stiglitz, Spence Lead New Group to Tackle World's Economic Woes
Oct 22, 2017
Stiglitz speaks to Bloomberg about INET’s Commission on Global Economic Transformation
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Research Program News
Nobel Laureates Stiglitz, Spence Lead New Group to Tackle World's Economic Woes (Bloomberg News)
Oct 21, 2017
This article originally appeared on Bloomberg
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Article
Puerto Rico Is Getting Squeezed, and It Will Cost All of Us
Sep 12, 2017
The path of austerity could spread economic pain and social woes far beyond the Caribbean island, says public debt expert Martin Guzman
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Working Paper
Grantee paperWhere Modern Macroeconomics Went Wrong
Sep 2017
This paper provides a critique of the DSGE models that have come to dominate macroeconomics during the past quarter-century.
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Article
Why Tax Cuts for the Rich Solve Nothing
Aug 1, 2017
Back-room deals on corporate tax reform won’t increase growth
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Article
The Economic Case for Single Payer Health Care in the US
Jul 8, 2017
Greater efficiency, lower costs, and universal coverage make it the sustainable option, say some top economists
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Article
The New New Deal
May 26, 2017
Globalization has fallen into disrepute; the myth of the prosperity and happiness-generating free market has been dispelled. A visionary concept that provides guidance and direction is required now.
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News
ECINEQ 2017 | 19 July Gala Dinner in honor of Tony Atkinson
May 10, 2017
On behalf of the Host Committee, we are writing to offer some further information about the “Gala Dinner”, which will take place on the evening of 19 July, following the final session of the 2017 ECINEQ Conference. The dinner will be held at a restaurant near the conference venue.
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Webinars and Events
Reawakening
PlenaryFrom the Origins of Economic Ideas to the Challenges of Our Time
Oct 21–23, 2017
INET gathered hundreds of new economic thinkers in Edinburgh to discuss the past, present, and future of the economics profession.
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Article
The paradoxes of fiscal austerity in Brazil
Mar 30, 2017
Brazil’s current economic scenario does not resemble the emerging economy that until recently fueled the optimism of analysts and investors.
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Article
Trumping Capitalism?
Jan 24, 2017
Donald Trump’s presidency is a symptom of an interregnum between economic orders – a period that will result in a new balance between state and market. While his administration’s economic policies are unlikely to provide the right answer, they may at least show the world what not to do.
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Article
Remembering Tony Atkinson as the Architect of Modern Public Economics
Jan 19, 2017
Beatrice Cherrier remembers Tony Atkinson’s influential intellectual, educational and institutional contribution to the field of public economics
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Article
Robots, Universal Basic Income, and the Welfare State
Jan 5, 2017
Evidence thus far questions the assumption that robotics are eliminating jobs. INET Senior Vice President for Programs Rick McGahey says the UBI debate should focus on the long-term weakening of labor’s bargaining power
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Article
INET Research in a Year of Living Dangerously
Dec 29, 2016
Notes from the Institute’s Director of Research on some significant papers and contributions produced in 2016 under the INET rubric
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Article
Stiglitz: Bad News Awaits America's Workers
Dec 28, 2016
Campaign promises aside, the policies favored by President-elect Donal Trump are likely to bring more pain than gain to working-class Americans
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Article
Stiglitz: Democratic Party Needs New Economic Thinking
Dec 4, 2016
Nobel laureate argues that the party’s adherence to neoliberal orthodoxy has hurt its prospects
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Article
Will Trump Bring Neoliberalism’s Apocalypse, or Merely a New Iteration?
Nov 30, 2016
Real existing neoliberalism as a set of social facts distinct from a purist ideology has proven remarkably adaptable and politically resilient
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Article
Easy Money is Dangerous Without Activist Fiscal Policy
Nov 1, 2016
Seven dangers of chronically low interest rates amid austerity and fiscal-policy phobia
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Article
Here’s What Economists Don’t Understand About Race
Oct 18, 2016
William Darity, Jr. has a new key to unlocking the mystery of inequality: stratification economics.
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Article
Rethinking Macroeconomic Theory Before the Next Crisis
Sep 23, 2016
While many countries throughout the world have faced severe financial crises over the last decades, and while the Japanese stagnation and the 1997 Asian financial crisis did induce some additional interest for the introduction of banking and finance in macroeconomic theory, it is only with the advent of the US subprime financial crisis that macroeconomic and monetary theories put forward by mainstream economists have started to be questioned.
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Article
How economic policy drives European (dis)integration
Sep 22, 2016
The Eurozone is (quietly) disintegrating as ‘core’ and ‘periphery’ countries continue on paths of economic divergence. That disintegration is reinforced by self-defeating policies shaped by a macroeconomic model that mimics and reinforces the divisions between ‘winners’ and ‘losers’
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Article
General Equilibrium Theory: Sound and Fury, Signifying Nothing?
Aug 16, 2016
Does general equilibrium theory sufficiently enhance our understanding of the economic process to make the entire exercise worthwhile, if we consider that other forms of thinking may have been ‘crowded out’ as a result of its being the ‘dominant discourse’? What, in the end, have we really learned from it?
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Article
The strange fate of economists' interest in collective decision-making
Aug 9, 2016
How economists turned to the study of collective decision-making after World War II, faced many impossibilities, and lost interest after solving them
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Article
Why Does Economics Reject New Thinking?
Jul 29, 2016
On George Akerlof’s “The Market for Lemons”
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Article
From Brexit to the Future
Jul 11, 2016
The EU is preparing to take a tough line with Britain, in order to deter other member states from following it out of the Union. But it is the neoliberal agenda that has prevailed for last four decades, benefiting only the top 1%, that is fueled voter anger on both sides of the Atlantic.
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Article
Brexit, Trump and the challenge of populism
Jul 6, 2016
What we’re reading: As the shock of the UK referendum vote to leave the European Union continues to roil, a number of analysts see it as revealing dynamics of which all Western policymakers ought to be aware
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Article
Economics in a Different Key
Jul 1, 2016
INET interviews Luigi Pasinetti
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Webinars and Events
Advanced Graduate Workshop in Development and Globalization
WorkshopJul 4–17, 2016
The Advanced Graduate Workshop in Development, led by Nobel Laureate Joseph Stiglitz is interested in identifying the complex interactions that influence well-being, development and growth.
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Article
A New Economic Paradigm to Fight Populism
Jun 15, 2016
Globalisation was once considered a doctrine of salvation - but it has produced too many losers and created a breeding ground for heralds of simplistic truths. It is high time for a new doctrine.
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Article
A Teachable Moment for the Economics Profession?
May 27, 2016
What we’re reading: A weekly scan of published items relevant to the Institute’s work
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Article
Is Wall Street Doing its Job?
May 20, 2016
What we’re reading: A weekly scan of published items relevant to the Institute’s work
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Article
Neither Clinton nor Trump is engaging with the causes of America’s economic woes
May 17, 2016
Author Rana Foroohar explains why the economic policies being touted by both presidential frontrunners offer none of the new thinking necessary to drive a policy response to revitalize the economy
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Webinars and Events
Azim Premji Winter School 2013
WorkshopJan 6–17, 2013
The Azim Premji University-Institute for Economic Thinking Advanced Graduate Workshop in Poverty, Development and Globalization is interested in identifying the complex global interactions that influence poverty and development as well as the development strategies that have proven successful in promoting equitable growth, promoting capabilities, and reducing poverty.
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Article
Are Economists in Denial About What's Driving the Inequality Trainwreck?
Jan 27, 2016
Today’s richest Americans may soon blow past the tycoons of the Roaring Twenties. Lance Taylor explains why, and what to do about it.
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Webinars and Events
The Institute at ASSA
DiscussionJan 2, 2016
Join us for a reception at the ASSA conference in San Francisco
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News
Adair Turner Oxford Book Launch
Nov 30, 2015
Lord Adair Turner visited the Oxford Martin Lecture Theatre on Tuesday 24 November for a well-attended INET Oxford event launching his latest book ‘Between Debt and the Devil: Money, Credit, and Fixing Global Finance’ (Princeton University Press).
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Article
Externalities and Public Goods: Theory OR Society?
Nov 19, 2015
How much does the standard theory of externalities and public goods really say?
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Conference Session
What Kind of Theory to Guide Reform and Restructuring of the Financial and Non-Financial Sectors?
Apr 8, 2010 | 09:50—11:40
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Conference Session
The Architecture of Asia: Financial Structure and an Emerging Economic System
Apr 9, 2011 | 11:45—01:35
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Conference Session
Is Mercantilism Doomed to Fail? China, Germany, and Japan and the Exhaustion of Debtor Countries
Apr 12, 2012 | 10:00—12:10
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.
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Conference Session
What is Development?
Apr 5, 2013 | 08:30—09:15
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Conference Session
Inequality in China, India and America: Causes and Consequences
Apr 5, 2013 | 05:15—06:45
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Conference Session
Finance and the Real Economy
Apr 11, 2014 | 05:15—06:30
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Working Paper
Conference paperPseudo-wealth Fluctuations and Aggregate Demand Effects
Apr 2015
This paper presents a theory of pseudo-wealth in a model that displays aggregate demand externalities.
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Conference Session
Yanis Varoufakis Interviewed by Joseph Stiglitz
Apr 8, 2015 | 09:15—10:00
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Article
The Fairness of Markets
Sep 28, 2015
A student of microeconomics learns that any desirable efficient market allocation can be sustained by a competitive equilibrium (the Second Theorem of Welfare Economics), given appropriate lump-sum wealth redistributions. This is typically understood as a means to correct unfair market outcomes. What are the real world implications of the second theorem? How well does it address distributional concerns?
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Working Paper
Working paperTowards a General Theory of Deep Downturns
Aug 2015
This paper, an extension of the Presidential Address to the International Economic Association, evaluates alternative strands of macro-economics in terms of the three basic questions posed by deep downturns: What is the source of large perturbations? How can we explain the magnitude of volatility? How do we explain persistence?
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Article
Joseph Stiglitz: “Deep-seatedly wrong” economic thinking is killing Greece
Aug 19, 2015
The latest austerity deal is terrible for Greece and Europe.
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Article
Greece, Europe, and the Future: The Institute Perspective
Jul 8, 2015
The thunder from the Greek “No” vote in the referendum on Sunday, July 5 continues to roll around the world.
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Article
How German Economists Really Think
Jul 7, 2015
A survey on behalf of the Sueddeutsche Zeitung indicates that German economists are much more American in their thinking than is presumed – with a rising trend.
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Article
Europe’s Attack on Greek Democracy
Jun 30, 2015
The rising crescendo of bickering and acrimony within Europe might seem to outsiders to be the inevitable result of the bitter endgame playing out between Greece and its creditors. In fact, European leaders are finally beginning to reveal the true nature of the ongoing debt dispute, and the answer is not pleasant: it is about power and democracy much more than money and economics.
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Video
It's Time to Get Radical on Inequality
Jun 25, 2015
America’s economic system has failed by not raising living standards for most.
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Working Paper
Working Paper SeriesUnemployment and Innovation
Jan 2014
This paper analyzes equilibrium, dynamics, and optimal decisions on the factor bias of innovation in a model of induced innovation.
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Article
Why journal editors should commission history papers for their anniversary issues
Apr 23, 2015
Writing the history of economic journals is not merely a way to reconstruct the development of new fields and new approaches to economics. It also recasts current debates on peer-review, retractions, open-access, replicability, and bias in scientific publishing in a wider perspective. It answers important questions on the influence of editors, publishers and referees on the development or marginalization of various economic approaches. But such endeavour requires the preservation of journals’ archives, the recognition of historical expertise, and economists’ adoption of a more relaxed and humble approach to their history.
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Article
History as Personal Expression — a personal note
Apr 22, 2015
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.
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Video
Greece and the Eurozone
Apr 14, 2015
Yanis Varoufakis and Joseph Stiglitz discuss Greece’s financial challenges and the associated Eurozone politics in this exclusive conversation.
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Conference Session
Thomas Piketty & Joseph Stiglitz on Inequality
Apr 7 - May 7, 2015 | 02:30—06:30
Thomas Piketty and Joseph E. Stiglitz discuss the causes of, consequences of, and remedies for inequality.
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Webinars and Events
The Economic Crisis and the Crisis in Economics
PlenaryNew Economic Thinking 2010
Apr 8–11, 2010
The Institute for New Economic Thinking convened many of the world’s most distinguished economists, academics and thought leaders at its inaugural Conference at King’s College, University of Cambridge.
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Webinars and Events
Toward an Alternative Macroeconomic Theory
ConferenceBudapest 2010
Sep 6–8, 2010
The Institute joined DIME and Central European University in hosting a conference addressing a key question of economics today: How can we create a new macroeconomic theory that takes into account the true relationship of finance to the real economy and can more accurately anticipate crises?