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Recent austerity policies have been guided by ideology rather than research. This column discusses research that reconciles disparate estimates of fiscal multipliers in the literature. It finds that common identification assumptions are problematic. Matching methods based on propensity scores show how contractionary austerity really is, especially in economies operating below potential.

Donald Trump’s presidency is a symptom of an interregnum between economic orders – a period that will result in a new balance between state and market. While his administration’s economic policies are unlikely to provide the right answer, they may at least show the world what not to do.

Why the conventional tools of the Phillips Curve, NAIRU, potential output, and money-supply growth are useless

Brendan Ballou, talks to Rob about his forthcoming book, Plunder, about the growing harmful role of private equity in the US. Ballou is a federal prosecutor and served as Special Counsel for Private Equity in the Justice Department’s Antitrust Division.

Max Lawson, head of Oxfam International’s Inequality Policy program, discusses Oxfam’s latest inequality report, “Inequality Kills,” which highlights the extreme growth in wealth of the billionaire class during the pandemic and how this has had a direct effect on the health and survival of the world’s bottom 50%.

New mandates must beget new organizing

The practical question in Washington today is not whether regulations will go, but whether anything will replace them

Rohinton Medhora (INET’s Board Chair, member of our Commission on Global Economic Transformation, and Distinguished Fellow at CIGI) discusses global social healing, India and the G20 with INET President Rob Johnson.

Umass Lowell Economics professor William Lazonick, outlines the history of how government policy and economic conditions contributed to the rise and fall of a Black blue-collar middle class. Part 2 takes a closer look at the role of finance and stock buybacks and what can be done to reverse the trend towards growing inequality.

Vera Songwe, Chair of the Liquidity and Sustainability Facility, and former Executive Secretary of the UN Economic Commission for Africa, on the multiple crises facing African countries.

How do we create a “change in culture”?

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.

Lori Wallach, of Public Citizen’s Global Trade Watch, and Jayati Ghosh, economics professor at UMass Amherst, discuss how first world countries are protecting pharma companies’ exorbitant profits, at the expense of vaccinating people living in the Global South and thereby also endangering everyone in the world.

The theoretical approaches to analyzing crises have behind them contrasting conceptions of the way the economy works