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What we’re reading: A weekly scan of published items relevant to the Institute’s work

ProMarket and the Consumer Welfare Standard An output increase is not sufficient to increase welfare. Allocation—how goods are distributed—matters.

Entangling alliances or entangling leagues are nothing to the entanglements of cash owing—Keynes

Goodhart brings back on the table the 2% minimalist federal fiscal counterpart to monetary union: “As has been exemplified in the recent crisis, it is problematical to try to issue money without the power to support that via taxation. Equally without access to money (notably via taxes), the power to undertake counter-cyclical, or cross-country, stabilisation is limited. So, the second proposal is to revisit the exercise that was done, some twenty years ago, to assess what fiscal changes might be needed to accompany a single currency.”

Many indicators say the US is close to full employment: Hours of work tell a different story.

Expert warns that it could be a race against the clock as the fast-spreading B117 variant picks up steam in the U.S.

Jim Nadler, CEO of the Kroll Bond Rating Agency, discusses the profound influence that bond ratings have on shaping social and economic outcomes, how they can contribute to environmental and social responsibility, and why a new approach to bond ratings is urgently necessary.

A new method developed by INET grantees to estimate country-level citation clubs and self-citations is making waves, with implications far beyond the paper’s initial focus.

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

In a political system whose primary currency is not the vote but the dollar, McConnell’s role as leader has plainly been well-earned.

Climate scientist Michael Mann discusses his new book, The New Climate War, in which he outlines the many ways in which powerful interests deflect, divide, and delay, to prevent real action that would avert the climate crisis

University of Bonn and Sciences Po economics professor Moritz Schularick talks to Rob about the soon-to-be-released book, Leveraged, which he edited based on papers from an INET-sponsored conference. The book takes a close look at what we have learned about the costs and causes of financial fragility since 2008.

Joseph Stiglitz, Michael Spence and a global team of leading thinkers are calling for new thinking & new rules for the world economy

In a discussion with INET’s Lynn Parramore, researcher Steven H. Woolf explains how the peculiar features of life, policy, and economics in America are killing us sooner, and what we can do to change it. *This is Part 1 of a two-part interview; Part 2 is here.

What are the choices we must make to ensure technology empowers, augments, rewards, and respects the majority, not the few, given its increasing defining role in future economies and societies?