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Wang Hui, author of The Rise of Modern Chinese Thought, now available in English, provides conceptual guidance for understanding China’s intellectual progress in a conversation with INET’s Lynn Parramore.

It is high time to ditch this myth for at least the following five reasons.

Improved access to education is often touted as the key to addressing racial inequality in the economy, but Lisa Cook’s research into the innovation economy shows that women and African-Americans are underrepresented despite their educational qualifications.

What is the purpose of economics?

In memory of Lance Taylor

Getting published in a top five economics journal is a near-requirement for tenure. But it’s a poor measure of research quality within a system that punishes creativity.

Regulators propose democratizing data and encouraging competition to reign in Big Tech. But such moves won’t go far enough in protecting user privacy. New: A reply to critics

Advancements in automation and artificial intelligence are quickly reaching tipping points, yet our policies, institutions and mindsets are woefully outdated. What will work look like in the future, and how do we secure a future that works for all?

Organized by the National Institute of Public Finance and Policy (NIPFP) in collaboration with the Institute for New Economic Thinking (INET), New York, the aim of LEPC 2017 is to bring together legal, economic and public policy thinkers to consider a variety of real world issues in India in a holistic manner.

As Chair of the Senate Budget Committee, Bernie Sanders can force votes on Medicare for All and cuts to the military budget. He will face opposition from the GOP and within the Democratic Party. Rob Johnson was a Senior Economist for the Budget Committee and Chief Economist for the Senate Banking Committee. He joins Paul Jay on theAnalysis.news podcast.

Prolific author and philosopher Ervin Laszlo discusses his most recent books, in which he outlines how the latest discoveries in science converge with spiritual insights and point to the ways in which society might evolve in ways that will help overcome contemporary crises.

By pushing workers into precarious, part-time work, “Third Way” governments of the past 20 years helped to create the disturbing economic trend that’s vexing orthodox economists

Phillip Alvelda, a scientist and entrepreneur with past roles at NASA and DARPA, sounds the alarm on cuts that threaten the innovative capacities that have made America a global powerhouse.

Margaret Heffernan’s new book “Uncharted” warns against giving up the power to shape our destiny to gurus and gadgets promising false certainty.

Comment on Paul Krugman’s recent observations on US inflation

A concentration of wealth and power that created a twin crisis of representation — in politics, and in expertise — set the stage for Donald Trump’s election victory, and has put America’s founding principles at risk

Economic sanctions against Russia are adding to a major redistribution of income from workers and middle-class consumers to profits in international trade.

Rethinking the role of markets and government policy in light of our inherently limited ability to foresee economic and social outcomes

Persistent changes in unemployment have lasting consequences for income distribution

Germany’s debt brake and EU fiscal rules will make it well neigh impossible for EU countries to fund the investments needed to decarbonize their economies.

Economics Nobel laureate Michael Spence discusses the many changes that await us in the wake of digital technology developments and the pandemic, which are combining in unexpected ways

This paper introduces the Knightian Uncertainty Hypothesis (KUH), a new approach to macroeconomics and finance theory.

An interview with Professor Felwine Sarr, Professor of Economics at the Université Gaston Berger of Saint-Louis in Senegal, for INET’s series on COVID-19 and Africa

Oxfam’s Economic Justice Director, Nabil Ahmed, and Oxfam International’s Inequality Policy & Advocacy Lead, Max Lawson, discuss their latest Global Inequality Report, which highlights the accelerating pace at which the world’s billionaires have increased their wealth exponentially in recent years. They also discuss the ways in which governments can reverse this trend through taxation.

In the first of a two-part interview, Rob Johnson talks to author, activist, and former Black Panther Party chairwoman Elaine Brown about the killing of George Floyd and the protests sweeping the U.S. in the context of the coronavirus pandemic.

INET’s grantees and Commission on Global Economic Transformation are looking at artificial intelligence and society.

Flows of goods and services, people and capital have overwhelmed the ability of political processes to accommodate them

Inadequate demand and climate change require a global green new deal

A new INET Working Paper by Yaroslav Melekh, James Dixon, Katrina Salmon, and Michael Grubb, interrogates the contradictions between fossil lock-in through LNG import capacity and overcontracting, and policy-driven demand reduction. Here is a summary of the paper’s main findings.

How can we develop a deeper, more human and multifaceted understanding of the past?

An interview with African development specialist Bara Guèye

There is a “tendency to neglect applied economics in writing the history of economic thought,” Roger Backhouse and Jeff Biddle remarked in 2000. They then followed the “applied” trail back into the XIXth and early XXth centuries, at a time the scope and nature of economics were debatted by continental and especially British political economists

The social and medical sciences depend on randomised control trials – though they face more assumptions and biases than commonly thought.

Skewed measures of “research output” hold back women who think differently or study smaller subfields in economics—and it’s harming the discipline as a whole

Discussions on the key conceptual and policy themes for sovereign debt sustainability with a view to proposing possible policy reforms.

Fifty years ago the actions of the Federal Reserve mattered. Today, so far as the aggregate measures of the American domestic economy go, they do not.

The distinguished economist talks about the power of entropy in shaping a new economic reality and viewing current events. His new book, Entropy Economics: The Living Basis of Value and Production, challenges flawed mainstream models that lead to distortions and bad policy.

Changing the incentives for how economists determine both the content of the subject and their approach to scientific research could increase the range of thinking in the profession

While Europe faces the specter of overwhelming debt, another deficit lies at the heart of the inability to find a solution: a deficit of trust.

Stock buybacks come at the cost of technological innovation

The extremely wise Robert Skidelsky has an excellent rant against Anglo-Saxon economics departments

The forthcoming Institute for New Economic Thinking conference will focus on innovation and its impact on economics and society. When we think about innovation we tend to imagine the future. But as with so many subjects in economics, it’s also useful to examine the past.

Rana Dasgupta shares his view of the contradictions and tensions of India’s economic and political scenes.

The role of speculation in the crude oil market in the increase in the WTI crude oil price.

For the BRICS countries to not just grow their economies but also raise the standard of living of their people, inclusive growth that prioritizes poverty reduction is a must

A collection of our research on populism, globalization and nationalism

Medhora has served on INET’s Board since 2012 and is a distinguished fellow and former president of the Centre for International Governance Innovation (CIGI).

China’s successful technological development path stands in contrast to the corporate financialization model in the United States

This paper studies the role of credit in the business cycle, with a focus on private credit overhang.

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

What is your first association when somebody talks to you about the economy?

What sort of effective democratic political system does the United States want and need?

Low interest rate policy can only do so much to bring the relief to American borrowers that they deserve: past monetary policies, credit market regulations and stagnant labor productivity growth all get in the way. Interest rate policy activism is part of the problem, not the solution.

In response to the walkout staged by students in the intro economics class at Harvard, the Institute launched the syllabus project, 30 Ways to Teach Economics.

How can we quantify the wage share implied by varying degrees and types of participation to Global Value Chains?

Elizabeth Kolbert, Pulitzer Prize-winning writer for The New Yorker, discusses her latest book, Under a White Sky, which explores how technological solutions don’t always lead where we think they will, especially in the face of the climate crisis.

On September 15, 2008, Lehman Brothers, a giant investment bank with a storied history, filed for bankruptcy. The shock was profound; world markets melted down.

Steven Shapin is visiting the UK. For those unfamiliar with the history and sociology of science, he is one of the giants of the field.

The recent growth in the scale and different forms of shadow banking and alternative finance mechanisms in China poses many questions of understanding, from its sustainability; different forms of credit growth; to the role of local government financing, and; the tensions between financial reform policy and practice.

There needs to be a safe place for businesses to place their reserves and working capital

The shocking—but illustrative—example of how an Italian government agency concocted statistics to evaluate scholarship, hid them from the public, and masqueraded them as science. It’s a growing phenomenon

Bernanke and Blanchard have made another failed attempt to salvage establishment macroeconomics after the massive onslaught of adverse inflationary circumstances with which it could evidently not contend.

Fragility and Resilience in Green Development in Africa: Intersections and Trade-offs

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.

A three-day conference, hosted by the Institute for New Economic Thinking, the Fung Global Institute and the Centre for International Governance Innovation, has drawn to a close.

A new report shows an economically viable path to net-zero CO2 emissions in key industries by 2060

Rapid private-debt growth threw Japan into crisis in 1991 and did the same to the United States and Europe in 2008. China may be next.

Professor Youba Sokona, Vice-Chair of the Intergovernmental Panel on Climate Change (IPCC) and African energy specialist, on how the Ukraine conflict had re-shaped thinking amongst many Africans, and on the transformation in leadership needed to address the problems faced by the majority of Africa’s people.

The Institute of New Economic Thinking Young Scholars Initiative (INET YSI) Working Group on the History of Economic Thought is organizing a YSI Workshop on Institutions and Communities in the History of Economic Thought on 6 June in Madrid, Spain, ahead of the Annual ESHET Conference

The Institute of New Economic Thinking Young Scholars Initiative (INET YSI) Working Group on the History of Economic Thought is organizing a YSI Workshop on Institutions and Communities in the History of Economic Thought on 6 June in Madrid, Spain, ahead of the Annual ESHET Conference.

The Occupational Safety Health Administration was created 50 years ago. Today, it’s in dire straits, say OSHA’s leaders during the Obama administration

In accepting mass unemployment, post-communist governments and the democratic parties that constituted them removed the economic foundation for Poland’s democracy.

David Fenton, the founder of the progressive PR firm Fenton Communications, takes a close look at what needs to be done to improve how we talk about the climate emergency so that everyone listens and acts accordingly

Professor Glenn Hubbard, professor of Finance and Economics at Columbia Business School, talks about his just-released book, The Wall and the Bridge: Fear and Opportunity in Disruption’s Wake, and how society and policymakers can help those who are left behind in the wake of today’s competitive world.

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

Exploring the genesis of an important work, one that critiques mainstream neoclassical economics and offers an alternative framework for understanding modern economies.

The 21 FMM conference of the The Macroeconomic Policy Institute (IMK) will take place in Berlin on 9-11 November 2017.

The Young Scholars Initiative will be hosting a group of young scholars to attend the meetings and discussions in and around UNCTAD International Debt Management Conference of 2017.

Global carbon emissions could fall by an estimated 5.5% in 2020 as a result of declining industrial production in the wake of the COVID-19 pandemic. But if the change is not systemic these effects may be fleeting, and the changing climate could put hundreds of millions of lives, trillions of dollars of economic activity, and the world’s physical and natural capital at risk.

I’ve already blogged on how undergraduate education evolved at MIT in the postwar era here and here, but since Mike Konczal and Paul Krugman make the case that, to bring introductory economics closer to the real world, macro should be taught before micro as Samuelson did in the first 13 editions of his Economics textbook, it may be worth returning to it.

Patrick Bond, sociology professor at the University of Johannesburg, South Africa, discusses the urgent need for climate reparations for Africa, in light of the COP26 climate summit, and why market solutions will not work to address the problems Africa is currently facing. Part 2 of 2.

The wage effect of hostile working conditions, mainly in terms of sexual harassment risk in the workplace, should be considered and monitored as a first critical step in making women less vulnerable at work and increasing their bargaining power.

A new book, The Hamilton Scheme, explores a very different founder than the one we’ve come to think we know.

As the Nobel laureate economist Robert Solow noted in 1987, computers are “everywhere but in the productivity statistics.” Since then, the so-called productivity paradox has become ever more striking. Automation has eliminated many jobs. Robots and artificial intelligence now seem to promise (or threaten) yet more radical change. Yet productivity growth has slowed across the advanced economies; in Britain, labor is no more productive today than it was in 2007.

Economists and historians of economics have constructed different (and sometimes conflicting) narratives about the past of their field. In fact what is history for economists may not be what is history for historians. To celebrate its 125th anniversary, the Economic Journal invited renowned economists to discuss important contributions published in the past by the journal and the works on similar topics by historians of economics are absent from these accounts. History of economics here seems to have the weight of a JEL descriptor attached to an invited contribution, which we ought to agree that it is not much.

What happens when professionals lose touch with the people they’re supposed to serve?

The Economics Group at Azim Premji University, Bhopal, India, in collaboration with the Institute for New Economic Thinking and its Young Scholars Initiative (INET-YSI), is pleased to announce an international conference aimed at exploring the intricate relationships between social identities, institutions, and economic development in South Asia.

As we face a coronavirus-induced health and economic crisis of uncertain duration, policy makers should be particularly concerned about private equity’s heightened use of debt to buy out healthcare providers and take them private, with no regulatory oversight.

Wishful thinking and tinkering won’t cut it. Nothing short of a mass mobilization for deep de-carbonization across the global economy can avert the looming climate catastrophe.

The Private Debt initiative is an opportunity to articulate how private debt impacts the economy and to specify the pathways for its effects. The initiative will also lead to better knowledge for the use of regulators, policymakers, journalists, and the public. Finally, the Private Debt initiative will open a better-informed dialogue towards tangible solutions to the problems posed by excessive private debt.

The United Nations Conference on Trade and Development (UNCTAD) and the Young Scholars Initiative (YSI) are pleased to announce the upcoming UNCTAD Summer School 2019.

“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.”

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

This paper considers the relationship between profits realized from higher insulin list prices, pharmaceutical innovation, and the financial structures of the three dominant insulin manufacturing companies, which set list prices.

Rethinking the role of markets and government policy in light of our inherently limited ability to foresee economic and social outcomes