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Inflation persists not just because of spending or interest rates, but because underlying social conflicts over income, expectations, and power remain unresolved.

Contrary to what many economic models suggest, salaries aren’t constantly recalibrated based on skills or technology. They follow the economy and politics—and common sense: hire when needed, promote from within, and slow hiring when budgets tighten.

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.

(Way) Beyond Diamond-Dybvig

With unemployment reaching very low levels in major economies, despite low – and slowly rising – inflation, it’s time for central banks to rethink their reliance on the so-called natural rate. No numerical target for this rate can serve as an anchor for monetary policy.

The “keys under the streetlight story” is well known among economists, but in case you haven’t heard it, it goes like this.

The Political Economy of Debt

By helping abate the liquidity crisis, incidences of banks becoming insolvent are reduced, and hence moral hazard in its severest form is minimized.

The optimism embedded in the efficient market hypothesis has been one of the main sources of the recent turmoil

Can the renminbi displace the dollar as the world’s international money?

The Toxic Textbooks movement devotes energy to curriculum reform as well. Its purpose is to galvanize student protests and “encourage schools and universities to use economics textbooks that engage honestly with the real world.”

Reindustrialization vs Financialization

In his contribution to our ongoing series “Experts on Trial”, Alessandro Roncaglia argues that viewing economists as princes or servants of power is inherently authoritarian. We should instead see the economist as a socially and politically engaged citizen