As the world turns upside down, Mariana Mazzucato discusses how to shape an economy that works for everyone
Slight increases in national-average earnings for older workers mask long-run stagnation and decline in Michigan, Ohio, Pennsylvania and Wisconsin – states that unexpectedly voted for Donal Trump
The Volcker Alliance has launched a series of new papers with important proposals for reforming financial regulations to guard against future crises
The Volcker Alliance and the Institute for New Economic Thinking convened a group of influential thinkers for a half-day forum to discuss regulatory and structural changes needed to ensure the stability and resilience of financial markets.
On June 2, 1965, under a mandate established by Title VII of the Civil Rights Act of 1964, the U.S. Congress created the Equal Employment Opportunity Commission (EEOC) to enforce federal anti-discrimination laws related to employment. The expectation was that African Americans would be prime beneficiaries of the EEOC. There was no assumption that the EEOC, on its own, could reverse deep-rooted employment discrimination against blacks. But in the late 1960s there was optimism that, in combination with equal educational opportunity and the strong demand for unionized workers in the well-paid manufacturing jobs that marked the post-World War II decades, the EEOC could help to ensure that an ever-increasing number of blacks would ascend to the American middle class.
Nobel laureate argues that the party’s adherence to neoliberal orthodoxy has hurt its prospects
The Value-Extracting CEO: How Executive Stock-Based Pay Undermines Investment in Productive Capabilities
The business corporation is the central economic institution in a modern economy. A company’s senior executives, with the advice and support of the board of directors, are responsible for the allocation of corporate resources to investments in productive capabilities. Senior executives also advise the board on the extent to which, given the need to invest in productive capabilities, the company can afford to make cash distributions to shareholders. Motivating corporate resource-allocation decisions are the modes of remuneration that incentivize and reward the top executives of these companies. A sound analysis of the operation and performance of a modern economy requires an understanding of not only how much these executives are paid but also the ways in which the prevailing system of executive pay influences their decisions to allocate corporate resources.
Neither do rapid growth in government debt, declining interest rates, or rapid increases in a central bank’s balance sheet
Flows of goods and services, people and capital have overwhelmed the ability of political processes to accommodate them
Real existing neoliberalism as a set of social facts distinct from a purist ideology has proven remarkably adaptable and politically resilient
Columbia professor Dan O’Flaherty explains how an awareness of racial trauma developed from growing up in Newark inspired him to write and teach on the economics of race.
Viewing economic outcomes as divorced from politics risks serious misunderstanding and virtually ensures regulatory failure.
What we’re reading: Some analysts expect dramatic changes and a short-term boost to the US economy, others predict continuity — and see Trump’s election reflecting a sea change in the global order
By suddenly eliminating two widely used bank notes, India’s government risks undermining public confidence in the basic means of exchange
Surviving the geopolitical and economic challenges of the coming years requires a world order less vulnerable to the vagaries of U.S. elections