Archive

Despite fear-mongering about the latest Consumer Price Index, unemployment remains elevated and stimulus is needed to prevent a collapse in demand

Ransomware gangs have been causing extensive damage. It’s time that the government takes them more seriously.

Lance Taylor’s New INET Paper

An interview with young migrants living in Mali’s capital city of Bamako

And electric vehicles don’t do a lot better

A low agreement between bibliometrics and peer review at the level of individual article indicates that metrics should not replace peer review at the level of individual article.

Restoring faith in governance and public action is itself a public good that would prepare us for a whole myriad of challenges on the horizon

Analyzing corporate conference calls reveals the way that countries perceive and spread risk through the global financial system

In 1898, upwardly mobile Blacks in Wilmington, NC were terrorized and slaughtered in a violent insurrection that set the stage for Jim Crow – and the next 123 years. Hardly anyone really knows about it.

Contrary to the New Keynesian paradigm, long-term unemployment can be reversed without a significant uptick in inflation

Unlike the Great Recession, the pandemic has hit women workers harder than men, and disproportionately hurt the job prospects of lower education workers.

The People’s Bank of China’s network of local currency swap arrangements provide Asian countries with a much-needed safety net, while also strengthening China’s diplomatic position.

An interview with African development specialist Bara Guèye

Un entretien avec Bara Guèye

Whether it is called “Build Back Better” or a “Green Industrial Policy” or, indeed, a Green New Deal, it is imperative to reject the false dichotomy of “jobs against climate.”

Hedge fund managers are pushing American firms to play Wall Street games instead of investing in technologies of the future. China doesn’t have that problem.

Contrary to its image as a cash-strapped, transparent public service, Wikipedia is a wealthy NGO with close ties to big tech companies that it tries to obscure

History shows robust antitrust enforcement helps promote a prosperous, fair, and balanced economy. Antitrust expert Mark Glick explains how the U.S. went astray during the 1980s, and how to get back on track.

Mortality and economic data show how constraints to government spending and a skepticism of redistributive policies have made the pandemic far worse

School re-opening push based on outdated science is poorly timed in face of coronavirus resurgence

How to Get Relief to Those Who Need It. Gosia Glinska in Conversation with Anton Korinek

There are several reasons why unprecedentedly low interest rates will probably not stimulate demand and may even threaten financial stability

The New Keynesian Dynamic Stochastic General Equilibrium (DSGE) is a straightjacket for macroeconomics

Wealthy predators are playing stock market games with companies needed to develop and produce clean technology

Like Republicans with political polls, unemployed Black workers are underrepresented in federal employment data because of non-response.

The $1.9 trillion stimulus should be large because the need is large

Conservative legal theory is based on a shoddy definition of what constitutes “efficiency”

Single-family home-ownership—elusive for many today—is an aspiration we ought to abandon

The IPCC was correct in emphasizing the need for early mitigation, but their analysis of possible growth trajectories appears to be faulty.

“We’re building a data system, because you can’t really manage a city if you don’t know who’s there and what’s in it.”

Legal scholar Dina Srinivasan talks to INET’s Lynn Parramore about restoring fairness to a regulatory Wild West.

Texas’s electricity market “reforms” made the current crisis inevitable

Labor-saving advances in AI may undo the gains from globalization and pose new challenges for economic development

Revival of failed austerity policies of the past is simply not an option

James K. Galbraith slams “unreliable” report claiming that raising the minimum wage would reduce jobs

Is r/wallstreetbets really leading a financial revolution?

The Straight Truth

“Equitable COVID19 vaccine distribution is a very important issue of global solidarity”

Capacity, Scale, and Control

Comment on Paul Krugman’s recent observations on US inflation

Researchers worry the pandemic may have severe after-effects, with deaths of despair impacting more distressed and newly-vulnerable populations

Developments in the real economy have persistently challenged central tenets of older economic thinking, such as the supposed close connection between the money supply and inflation.

The Challenge to Bidenomics

The economy is likely to be crippled for months and fiscal rescue on a large scale, once again, is very much necessary.

Populist parties and the decline of progressive politics in Italy

While Africa’s “premature deindustrialization” appears to be the dominant global narrative, recent analysis of the data suggests that de-industrialization is not the common experience for the majority of African countries

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

Expert warns that without more robust abatement measures and testing, the virus could rage until mid-2022.

In this interview, Camilla Toulmin and Folashadé Soulé speak with Carlos Lopes, Professor at the Nelson Mandela School of Public Governance, University of Cape Town, Visiting Professor at Sciences Po, Paris and an Associate Fellow at Chatham House, London

How the dream of a middle class existence collapsed, first for Blacks, then for more and more white American workers and what the Biden administration could do to retrieve the situation.

On the occasion of the ASSA 2021 Virtual Annual Meeting (Jan. 3-5), Peter Bofinger presents a “10 Best of” Mankiw list

Warnings of “corruption and incompetence coming together,” as economists William Lazonick and Öner Tulum study the race to end the pandemic.

After years of amassing power, the tide is turning against the tech monopolies

In this interview, Folashadé Soulé and Camilla Toulmin speak with Carl Manlan, the Chief Operating Officer of the Ecobank Foundation - responsible for Ecobank’s social impact engagement with the communities in which the bank operates in Africa – on the role of African philanthropy and corporate social responsibility in the response to COVID-19 on the continent.

Trump’s approach largely failed because the problem can’t be solved by tariffs. Here’s the answer.

How electric and self-driving cars could change the industry

A look inside the byzantine world of online ads

A response to Jason Furman and Lawrence Summers

No one person or perspective holds the key to solving economic problems, says Jay Pocklington of the Institute for New Economic Thinking

Individual EU member states ought to issue perpetual bonds

The perverted dreams of western modernity and capitalism may be exhausting themselves, says author Eugene McCarraher. And that’s something to be thankful for.

Carbon pricing still has the potential to be a powerful tool contributing to emissions reductions, but it is clearly no panacea.

Targeted Measures and Subsidies for Cost Effective COVID-19 Abatement

By fully utilizing the power of the Occupational Safety and Health Administration (OSHA), President Biden could take meaningful steps to keep workers safe during the pandemic, even without Congress’s help

When segregationists fought against school integration, libertarian economist James Buchanan saw an opportunity for his private education plan

New INET research shows once again that it’s large firms and the 1%—not the “median voter”—who drive U.S. policy

In this interview, Dr. Vera Songwe, economist and Executive Secretary of the United Nations Economic Commission for Africa reflects on the ways that African governments have handled COVID-19, the role of the Continental Free Trade Agreement in turbo-charging future growth, the vital role of infrastructural investment and mobilising domestic resources for building forward better and greener.

Unregistered lobbyists, including former members of Congress, are a key resource for lobbying firms

David Mussington, a leading expert on cybersecurity, reveals what’s worrying him, from Facebook to foreign interference.

Dr. Ming Lin spoke out about Covid safety at his hospital and was fired. He’s fighting back against a system that put profits over human life.

A summary of INET’s latest Future of Work episode

Dans le cadre de cet entretien, Mr. Mossadeck Bally, C.E.O, Azalai Hotels Group et membre du GRAIN (Groupe de Réflexion, d’Actions et d’Initiatives Novatrices) revient sur les impacts économiques de la pandémie du COVID-19 sur son groupe hôtelier, le rôle du secteur privé malien dans le plan de relance économique, l’emploi des jeunes et les solutions qui doivent être apportées à la crise politique au Mali.

In this interview, Mr. Mossadeck Bally, a Malian businessman and CEO of Azalai Hotels Group and member of GRAIN (Group of Reflection, Actions and Innovative Initiatives) discusses the economic impacts of the COVID-19 pandemic on his hotel group, the role of the Malian private sector in the economic recovery plan, youth employment and the solutions that must be provided to the political crisis in Mali.

Lance Taylor responds to William Janeway’s essay on John Maynard Keynes and Frank Ramsey. Janeway then offers his response.

Lance Taylor and Özlem Ömer respond to Andrew Smithers’s final comment on their working paper

The third and final round of response from Andrew Smithers on Lance Taylor’s INET working paper on the alleged “global savings glut.”

In this interview, Folashadé Soulé and Camilla Toulmin discuss with Edward K. Brown, Senior Director, Research and Advisory services at the African Center for Economic Transformation (ACET) based in Accra, Ghana, on the effects of COVID-19 on regional integration and economic transformation in Africa, and the role of ACET and African think tanks in advising African governments respond to the crisis.

Technology has coevolved with human societies and played critical roles in past social and economic transformations. From the invention of steam engines to the use of electricity, technological changes were responsible for boosting productivity gains and increasing standards of living. But what really is technology? Is it an external force outside our control, or do we have a say in its direction, development, and deployment? These questions were undoubtedly made more urgent with the rapid advancement in digital technologies of late.

New book by Sarah Chayes reveals the country’s descent into a level of corruption usually associated with places like Nigeria and Afghanistan

INET explores how technological and economic changes are affecting employment

Persistent changes in unemployment have lasting consequences for income distribution

Like master illusionists, bank accountants conceal losses from federal regulators, putting the whole economy at risk

INET’s co-founder reviews new books about John Maynard Keynes and Frank Ramsey

For thirty years after the Civil Rights Act, a sizable share of white Southerners still voted Democrat. That changed when the party embraced trade deals that hurt American workers.

Why freeing American households and businesses from crippling private debt would be a boon to the economy. Article reposted from DemocracyJournal.org.

This first book in the new INET and Cambridge University Press book series, Studies in New Economic Thinking, shows that wage repression—far more than monopoly power, offshoring, or technological change—has driven rising inequality.

In a new book from Cambridge University Press, Lance Taylor reveals that wage repression — far more than monopoly power, offshoring or technological change — is driving rising inequality.

Claudia Sahm dares to call out systemic bullying and harassment that drives out talent and compromises science. Perpetrators are not happy.

Wage Repression, Asset Price Inflation, and Structural Change Caused Rising Macroeconomic Inequality for Fifty Years from before Reagan through Trump.This is a summary of a new book that is being published as part of a new book series with Cambridge University Press.

Amid debates over costs—and profits—from a coronavirus vaccine, a new study shows that taxpayers have been footing the bill for every new drug approved between 2010 and 2019

During this interview, Professor Kako Nubukpo, Dean of the Faculty of Economics at the University of Lomé, Togo and former Minister of Prospective and Evaluation of Public Policy of Togo considers the economic and social impact of the COVID-19 crisis and its repercussions on monetary policy and fiscal reforms underway in West and Central Africa today.

Dans le cadre de cet entretien, Pr Kako Nubukpo, Doyen de la Faculté des Sciences Economiques et de Gestion (FASEG) de l’Université de Lomé au Togo, et ancien Ministre de la Prospective et de l’Evaluation des politiques publiques du Togo, revient sur l’impact économique et social de la crise du COVID-19 au Togo et sur ses répercussions sur les politiques économiques dont les réformes monétaires et fiscales en cours en Afrique de l’Ouest et Centrale.

Lance Taylor provides a second and final response to Andrew Smithers’ criticism of his working paper on the role of the “Global Savings Glut”

Andrew Smithers responds to Lance Taylor’s rebuttal.

Financial commentator Andrew Smithers responds to Lance Taylor’s INET working paper. You may also read Taylor’s response to Smithers’s comment here.

Lance Taylor responds to Andrew Smithers’s comment on his INET working paper, “Germany and China Have Savings Gluts, the USA Is a Sump: So What?”

Consolidation in the dairy industry has created separate, inflexible supply chains for consumers and commercial markets. When COVID killed commercial demand, perfectly good milk and cheese was wasted.

A “global saving glut” was invented by Ben Bernanke in 2005 as a label for positive net lending (imports exceeding exports) to the American economy by the rest of the world. However, there is a more plausible explanation for the persistent trade imbalance between the US and its major trading partners.

Despite post-2008 regulations, the boom-bust credit cycle continues to run wild

Chioma Agwuegbo of TechHer Nigeria, talks to Folashadé Soulé and Herbert Mba Aki about how the pandemic is impacting young people in Nigeria, especially young women, and how African youth are tackling the crisis.