Archive

This paper provides critical comments on the Peter Temin - David Vines promotion of the basic Swan Diagram as (1) a policy tool to encourage any individual debtor nation experiencing balance of payment deficits to reduce its exchange rate in order to expand exports and reduce imports and (2) the Swan Diagram as a simple model for understanding Keynes’s General Theory for an Open Economy.

The world economy is just starting to recover from the most disastrous episode in the history of financial globalisation. Understanding what happened is essential.

Economic growth and rising prosperity does not happen at the moment of invention. Only an innovation policy aiming to maximise activities throughout the innovation cycle will succeed in capturing economic growth that enhance the welfare of all citizens.

Lessons Ignored From the 1930s

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This research project creates a new database of international capital flows from the early 19th century, when London became the financial capital of the world, until 1931, when international capital markets collapsed.

This research project explores Chinese economic thought of the 1930s, 1940s, and 1950s, with direct relevance to the present day, and in particular focuses on one specific thinker, Wang Yanan, and the intellectual debates he animated and in which he participated as a major theorist.

This research project investigates how economists sought to make their science more relevant to real-world issues and policy design from the mid-1960s on, by becoming “applied economists.”

This research project studies the innovation of mortgage-backed securities in the 18th century in order to understand the effects of securitization on financial and real markets.

This research project develops an intellectual biography of the Hungarian economist Tibor Scitovsky (1910-2002), who is known primarily for his path breaking 1976 book, The Joyless Economy.

Some Fundamental Keynesian and Post-Keynesian Insights, with an Analysis of Possible Mechanisms to Achieve a Sustained Recovery

A budget approach cloaked in the aura of science and technical jargon became a tool of manipulation.

Since Aristotle the question about the potential relationship between economic inequality and democratic changes has been studied and debated – but scientifically our ability as researchers to assess and understand how such complex social phenomena may be related is much more limited than recognised.

Patrick Honohan, Governor of the Central Bank of Ireland, discusses the Irish banking crisis.

This paper applies Schein’s model of organizational culture to financial firms and their prudential regulators.