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A budget approach cloaked in the aura of science and technical jargon became a tool of manipulation.

Dr Kandeh Yumkella is a development economist, founder and CEO of The Energy Nexus Network (TENN), a regional hub for sustainable energy solutions and serves as a Member of Parliament in Sierra Leone. Previously Dr Yumkella served as Under-Secretary-General and Special Representative of the UN Secretary-General for Sustainable Energy for All and founding chief executive officer for the Sustainable Energy for All (SE4All) Initiative (2013–2015). He also served as Director-General of the UN Industrial Development Organization (UNIDO, 2005–2013), mobilising global consensus for SDG7 and 9. He is a member of the High-Level Group of the Africa-Europe Foundation, co-chair of the Africa Europe Foundation Strategy Group on Energy, and member of various international advisory bodies, boards, and commissions.

The election of Italy’s right-wing, populist government exposes the economic and democratic shortcomings of the European project and its nationalist rivals

Dennis Kelleher, co-founder of Washington DC-based financial watchdog Better Markets, explains how Main Street gets hurt by the ongoing banking turmoil and why crypto is the last place anybody should be running to for safety.

William Overholt, Senior Research Fellow at the Kennedy School of Government at Harvard University, talks to Rob Johnson about how China expanded its power over Hong Kong, and the state of US-China relations.

Economic historian and INET board member Richard Vague, talks about his latest book, The Illustrated Business History of the United States, which reveals a number of misconceptions and myths about the development of the US economy

A British national of Bengali origin, novelist Rana Dasgupta recently turned to nonfiction to explore the explosive social and economic changes in Delhi starting in 1991, when India launched a series of profoundly transformative economic reforms.

The most crucial issue in European policy, and one on which no big party campaigned and no important public discussion took place, was the fiscal policy stance for the next few years.

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.

In this conversation with Folashadé Soulé and Camilla Toulmin, Pr Njuguna Ndung’u, a Kenyan economist, Director of the African Economic Research Consortium (AERC), a pan-African organization devoted to the advancement of economic policy research and training in sub-Saharan Africa, and former Governor of the Central Bank of Kenya (2007-2015) analyses how the pandemic creates more fragility in African economies, but also how reforms could be implemented during this crisis; and the urgent need for investment in strong health institutional capacities

What ails the EU Green Deal is exactly what troubles the Union in general — an absence of social democracy at work

University of Texas economist James K. Galbraith engages in a wide-ranging discussion of the many ways in which conventional economics has failed us, ranging from how to manage the post-pandemic economy, the role of finance, to the problems of inequality and climate change.

Economics and politics go hand in hand, we all know that.

The corrosive social and economic effects of what have now become ‘normal’ unemployment levels require new solutions, and tradewithout full employment exacerbates the problem

In this interview, Dr. Folashadé Soulé and Dr. Camilla Toulmin discuss with Nanjala Nyabola, a writer and researcher based in Nairobi, Kenya. Nanjala’s work focuses on the intersection between technology, media, and society. She is currently the Director of Advox, the digital rights programme at Global Voices. Nanjala has held numerous research associate positions including with the Overseas Development Institute (ODI), the Oxford Internet Institute (OII), and other institutions, while also working as a research lead for several projects on human rights broadly and digital rights specifically around the world.

Ajay Chhibber, Distinguished Visiting Scholar at the Institute of International Economic Policy, George Washington University, and India’s first Director General of Independent Evaluation with the status of Minister of State in 2013-14, discusses his co-authored book, Unshackling India, about what needs to happen for India’s economy to take off.

During WWII FDR mobilized private manufacturers to support the war effort. To keep Americans healthy, we need to do the same now for medical equipment

How a bleak Christian theology influenced the development of the dismal science

Jeff Sachs talks with Rob Johnson about US-China relations, the tragedy of modern geopolitics, and how our current race to the bottom could be reversed.

The Institute for New Economic Thinking (INET) and the Open Society Foundations (OSF) announced that OSF has made a gift of $23.5 million to INET. The grant marks the completion of the organizations’ 12-year collaboration.

The multipolar financial world is here. The United States can survive it – but only with major political and economic changes at home. It’s time to start thinking about what those need to be.

In this conversation with Folashadé Soulé and Camilla Toulmin, Pr Takyiwaa Manuh analyses how the pandemic has disproportionately affected women at different levels especially in Ghana, and describes why governments need to focus more strongly on the gendered impacts of COVID-19 in both their sanitary and economic response.

A better set of approaches for the 21st century.

An award created as a concession to market-minded bankers needs to recognize the centrality of social-democratic policies to the wellbeing of industrialized economies

Governments and civil society organizations must work together with UNCTAD to provide developing countries the tools — and the transformed governance regimes — they need to “build back better” through these challenging and difficult times.

Sheila Dow and Antonella Stirati bring their scholarly expertise to INET’s research advisory group

Professor Richard Portes discusses the problems of Europe and then specifically drills down into Greece itself.

How big tech barons crush innovation—and how to fight back

INET researchers have continued their innovative work and are finding larger platforms and eager audiences for it.

New Consensus president Saikat Chakrabarti talks about what Biden can do, even without Congress, to make a real difference in the lives of ordinary Americans

In the age of Adam Smith, an economics that masqueraded as natural science and excluded the human condition actually suited the interests of the landed and the wealthy

What did societies and politicians learn from the crash? What have been theoretical achievements in orthodox and heterodox economic thinking since then? Where do we go from here?

Columbia University’s renowned economist Jeffrey Sachs talks about the lessons he has learned from consulting with governments around the world, about how global problems, such as the war in Ukraine, will only be solved via efforts to understand the other side, never through force.

The rise of the Knowledge Based Economy and subsequent Data Driven Economy has created a new world in which the basis of wealth and power is derived from control of these intangible assets, alongside creating a new kind of social and political space in which both our public and private spheres are technologically reshaped. The COVID-19 pandemic has accelerated these transformations that permeate our world and has amplified their effects.

INET at the Trento Economics Festival 1: A dialogue between Mark Carney and William Janeway, coordinated by Robert Johnson Our world is full of fault lines—growing inequality in income and opportunity; systemic racism; health and economic crises from a global pandemic; mistrust of experts; the existential threat of climate change; deep threats to employment in a digital economy with robotics on the rise. These fundamental problems and others like them stem from a common crisis in values.

Debt Talks is a new online webinar series that will bring together diverse voices to discuss one of the most pressing economic issue of our times: the surge in indebtedness. We are inviting prominent thinkers, policy-makers, and scholars from different backgrounds and countries to present and debate their views . Each monthly webinar will feature a lively panel presentation followed by Q&A. INET Fellow Moritz Schularick will moderate the events.

By promoting unrealisitc models, economists have become part of problem rather than the solution

Without strong privacy laws and aligned incentives, increased AI competition worsens surveillance, manipulation, and disinformation—threatening privacy, autonomy, and democracy.

Historians Naomi Oreskes (Harvard University) and Erik Conway (Caltech) talk to Rob about their just released book, The Big Myth: How American Business Taught Us to Loathe Government and Love the Free Market.

Stanislav Shmelev, the director of Environment Europe Foundation in Oxford, discusses the many dimensions we need to consider when preparing our cities, businesses, and economies to the demands of ecological sustainability.

The latest meeting of INET’s Commission on Global Economic Transformation addressed the impact of technological change on jobs and society—and how best to harness the power of tech

The latest meeting of INET’s Commission on Global Economic Transformation addressed the impact of technological change on jobs and society—and how best to harness the power of tech

The Research Network Macroeconomics and Macroeconomic Policies (FMM) organises its 18th annual conference on Inequality and the Future of Capitalism with introductory lectures on heterodox economics for graduate students.

In a society where asset ownership is incredibly unequal, social mobility becomes severely diminished

Mention the government and the market and all academic reflection and civilized discussion dissolves into heated monologues. Politicians are an extreme case.

Economics Nobel Laureate Michael Spence discusses the profound changes that are rippling through the global economy as we emerge from the COVID recession, where economic growth will have to rely more on productivity gains instead of the incorporation of excess labor capacity and what this would mean for countries around the world.

In the last years of his life, King was boldly forging a radical, multi-racial movement for economic justice

A discussion with Lance Taylor and Özlem Ömer, authors of INET’s new book Macroeconomics Inequality from Reagan to Trump

Business firms are not alone in making investments in the productive capabilities required to generate innovative goods and services. Household units and government agencies also make investments in productive capabilities upon which business firms rely for their own investment activities.

Rob Johnson interviewed Columbia University historian Adam Tooze in early 2020 about his work on financial history and how it relates to the Green New Deal.

INET’s President introduces a new research program that challenges orthodox assumptions about the limits of economic knowledge

Professor Marc Egnal of York University joins the Institute for New Economic Thinking’s Lynn Parramore to explore why historians cling to an inaccurate and misleading narrative, and what we can learn from the real history about tyranny, checks and balances, imperialism — and resistance.

The Chicago School’s weakening of antitrust law hurt the economy

The work of feminist thinkers helps illuminate why billionaires seek to solve problems on Earth by blasting into space.

UMass Amherst professor and PERI Co-Director Robert Pollin discusses his latest book that he co-authored with Noam Chomsky, about the Global Green New Deal and the opportunities and challenges that lie ahead in addressing the climate crisis

INET at the Trento Economics Festival 3: A dialogue between Michael Spence and Robert Johnson The governance of technology is a new challenge. The Recovery Plans is encouraging the digital transformation of our economies. An acceleration of technological change is bound to deeply affect labor markets and income distribution. While labor-market adaptation is likely to stave off permanent high unemployment, it cannot be counted on to prevent a sharp rise in inequality.

The combination of technological disruption and economic globalization have resulted in stagnating wages, middle class job losses, and declining labor power in many developed countries. How did this happen and how could we respond?

A call to action for a world economy in crisis

The proliferation of China’s opaque, loosely regulated (or unregulated) shadow-banking system has been raising fears of possible financial instability. But just how extensive – and how risky – is shadow banking in China?

As the world grapples with rapid technological advancements, demographic shifts, environmental challenges, and governance transformations, new forms of inequality are emerging.

The question of underdevelopment and development policies in postwar Europe will be the theme of a workshop organized by Michele Alacevich, Sandrine Kott, and Mark Mazower, at Columbia University, the Heyman Center for the Humanities, Friday, October 10, 2014. The program is available here. Below are some of Alacevich’s insights on the issue leading up the event:

Hundreds of young scholars from all over Asia are coming together in Hanoi to discuss new economic thinking, present their research, and work with over 30 senior scholars. Join us there and become a part of YSI’s global community!

More on substance, coherence, and relevance in the Eurozone debate.

Language has always been a way to divide, conquer, classify, and control, but it also helps to constitute who we are and what we think. 

The Bretton Woods conference has a protean character.Talk in the corridors asks “what is it?” Some in the press (lots of press here) believe that deals are being made, the attendance of heavy hitters leads some to believe that consultations and strategies are being outlined for world government (Summers, Stiglitz, Brown, and yesterday Volcker arrived to close the event).

“I was considering what I was going to do, [and] what I decided I could not do, was stay within the confines of mainstream academic economics.” Rob Johnson talks with INET Co-Founder Bill Janeway about his exciting new project at Cambridge University.

Inequality, racism, and violence are the real killers in America.

Richard Vague looks at what it’ll take for the U.S. to win the R&D race

How women economists expand orientations and perspectives that can transform economics into a pluralistic, critically engaged, and socially responsive discipline.

Real Estate Investment Trusts (REITs) are considered “passive” investors and are exempt from corporate tax. But in reality, they play a very active role in reshaping whole industries, like healthcare.

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

Presented by Professor Dan O’Flaherty at the Institute’s conference on the economics of race in Detroit on 11 November, 2016

Notes from the Institute’s Director of Research on some significant papers and contributions produced in 2016 under the INET rubric 

Isabella Weber, assistant professor of economics at UMass Amherst, discusses her new book on how China managed its transition from central planning to markets

Anand Giridharadas, writer and author of the book, Winners Take All, discusses the multiple crises we are currently facing, how they could provide an impetus for real change, and how US and global elites are failing to live up to the challenge.

Italy’s austerity-fueled crisis is a warning to the Eurozone

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%.

Nancy MacLean, history professor at Duke University, talks about the ways in which neoliberal economic icon Milton Friedman collaborated with segregationists and with right-wing billionaires in the pursuit of his goal of privatizing public education.

As a pandemic continues to expose weaknesses in our human systems and institutions, psychiatrist and author Iain McGilchrist’s proposition that a battle in our heads is impacting the direction of our future is worth revisiting.

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

From political slugfests to classroom battles, historian Marc Egnal talks with INET’s Lynn Parramore about the need for a new approach to our national story.

Lynn Parramore explores Peter Temin’s new book on the country’s two economic histories: progress for whites, slavery and segregation for Black people. He warns of a second-tier global future unless they come together.

Without new economic thinking, macro policy will retain its deflationary biases and secular stagnation remains the ‘normal’.

“We need to look at the early warning systems in place and aspire to attain food security.”

Several days ago, we woke up to a new world. Britain had voted to leave the European Union. Some were pleased, many were deeply concerned. What is likely is that many will be affected. Some wonder if the EU will survive. It will take months if not years to fully understand the ramifications.

Ten years after the crisis, financial regulation leaves taxpayers holding the bag for banks’ safety net.

How orthodox economics paved the way for the political shocks of 2016

Democratic capitalism is an evolving system that responds to crises by radically transforming both economic relations and political institutions. The time for a new phase has come, regardless of whether “responsible” politicians are prepared to admit it.

The bundle of sanctions was initially designed and imposed in haste, with little basis to assess historic performance.

World leaders who are gathering for the APEC summit next week had hoped to be signing the Trans-Pacific Partnership Agreement (TPP). The pact would bring together key Pacific-rim countries into a trading bloc that the United States hopes could counter China’s growing influence in the region.