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Given the mounting need to create good jobs, effect structural change, and transform the economy, what should policy priorities be in the digital era? Is there a role for industrial policy? What new policy options do we need to achieve inclusive prosperity?

Morale hazard can turn into a darker ‘moral’ hazard

The YSI Latin America Working Group is hosting a workshop at the United Nations ECLAC Summer School on Latin American economies.

When working within the same employment spell, female workers, particularly those of color and those working in low-wage service and care jobs, earn significantly less when facing greater volatility than their male counterparts or those working in non-service, non-care occupations.

Research by INET-affiliated scholars shows the US lags far behind its peers on inclusive growth, suggesting inequality is not an inevitable consequence of globalization and technology

How well do our assumptions about the global challenges of energy, environment and economic development fit the facts?

Workshop of the YSI Africa Working Group 

Literary productions offer illustrations of economic theory in action.

This research project uses macroeconomic data going back to the mid-19th century to analyze issues such as the relation between income distribution and economic growth; and how debt, asset prices, and growth moved together the last 160 years.

A report of the Commission on Global Economic Transformation’s subcommittee on Macroeconomics & Finance

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.

Dr. David Mussington, cybersecurity expert with two decades of experience, reveals why the clock is ticking on U.S. vulnerabilities under Trump.

The GENIUS Act is a disastrous law that poses grave and unacceptable threats to our financial and economic future. Congress must remove those threats by (1) repealing the GENIUS Act and passing legislation that requires all stablecoin providers to be FDIC-insured banks, and (2) adopting legislation that requires all crypto derivatives to comply with the rules governing non-digital derivatives under Title VII of the Dodd-Frank Act.

In a new book, How Novelty and Narratives Drive the Stock Market, economist Nicholas Mangee examines the influence of stories on stock market outcomes in an uncertain world.

Economist and feminist Victoria Bateman reveals some naked truths about the failings of economics.

We are pleased to announce the program of INET’s annual plenary conference in Berlin.

How could the new SDR allocation help developing countries?

Dean Baker, senior economist with the Center for Economic and Policy Research, talks about how geopolitical and economic tensions between the US and China benefit powerful elite sectors in the US, but are bad for working people.

A new view of stock market instability under Knightian uncertainty

In a memo for the G20, INET calls for changes to the evaluation of economic research to ensure that economic theory—and policy—is more rigorous, innovative, and in service to society. 

Ruskin scholar Jeffrey Spear, author of “Dreams of an English Eden: Ruskin and his Tradition in Social Criticism,” discusses how the insights of a key 19th-century thinker can help us build a new paradigm for protecting the planet – and save us from ourselves.

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.

Thomas Piketty and his colleagues have insisted that tax records are better for measuring inequality than income surveys. They’re wrong.

The central bank today is not just the government’s bank, but also a bankers’ bank, a truly hybrid institution

The 5th UNCTAD YSI Summer School provides an opportunity to explore the Challenges and Opportunities of a New International Economic Order. The school will bring together UNCTAD experts, academics, diplomats, and young scholars from across the globe for lively and stimulating intellectual debates.

Scholar sees Institute for New Economic Thinking conference as an important opportunity to discuss issues of race and economics, and of Detroit’s past and future 

“You are now leaving the world as you know it.”

What are the choices we must make to ensure technology empowers, augments, rewards, and respects the majority, not the few, given its increasing defining role in future economies and societies?

To what extant do existing mainstream models properly address issues such as heterogeneity and interactions, which are considered central ingredients to understand economic crises as emergent, endogenous phenomena.

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

India has for the last twenty years been undergoing a rapid and abiding structural shift in its pattern of development. The transformation of the economy from the period of the license raj to the post liberalization era has wrought many changes, with somewhat ambiguous implications.

This research project proposes to revise common interpretations of 20th-century economic history by unearthing the often overlooked story of tax havens and offshore finance, Eurodollars, and export processing zones between the 1870s and 1980s.

This research project combines interdisciplinary expertise with a wholly unique database on hedge funds compiled by the Foundation for Fund Governance to examine the organization and governance of the offshore hedge fund industry.

How and Why Bankers Still Enjoy a Global Rescue Network

Why did so many Dutch voters vote for the far-right Geert Wilders?

Improvements in data collection create potential for better outcomes for the LGBT community.

How excessive debt hurts the economy and why to curb it.

In science, empirical disciplines such as physics, chemistry, history, and parts of sociology and political science, reason from facts.

Author Jeremy Lent argues that western conceptual frameworks with roots in the Stone Age push us towards disaster. Time to let them go?

The Institute for New Economic Thinking and the Italian Association for the History of Political Economy (STOREP) announce a day and a half of lectures, workshops, and debates held on the 26th and 27th of June, just before the annual STOREP conference, in Siena, Italy.

This research project uses information from digitized Google books and library catalogues to create new measures of technological innovation and diffusion for OECD countries from 1850 to the present.

An interview with Dr. Ibrahim Mayaki, CEO of the African Union Development Agency (AUDA-NEPAD)

The most popular political philosopher of his generation on liberal responsibility worldwide for the rise of the hard right

“Four men sat at a table. Raised sixty floors above the city, they did not speak loudly as one speaks from a height in the freedom of air and space; they kept their voices low, as befitted a cellar.”

The INET Taskforce in Macroeconomic Efficiency and Stability, chaired by Professor Joseph Stiglitz, focuses on the inefficiencies and instabilities that arise from the interaction of agents and institutions operating in networks and from pervasive macro-economic externalities, as well as on the macroeconomic inconsistencies that may result from those interactions.

A special note from INET board member john a. powell

“We choose this stochastic structure for computational reasons. This reduces the dimension of the variables. With (such and such) alternative, the computational burden would have dramatically increased.”

Michael Pettis, Non-Resident Senior Fellow at the Carnegie-Tsinghua Center for Global Policy, talks to Rob Johnson about how trade wars really are class wars and how nationalist conflict is shaping US-China relations and fracturing Europe.

In The Measure of Our Age, elder justice expert M.T. Connolly, who served as coordinator of the Department of Justice’s Elder Justice Initiative, offers both a warning and challenge: the systems we rely on to protect us as we age haven’t caught up to our longevity. Good news: we have the tools to build better ones.

Two-day workshop on: Dialectics of Globalism and Nationalism, Inequality and Populism, Agrarian and Urban Crises, Data and Social Justice

Gerald Friedman responds to the Romers on the Sanders Plan.

In the face of  laissez-faire capitalism at home and resurgent nationalism across the globe, INET offers an innovative look at the causes of—and solutions for—the problems that ail a fissuring world economy.

Marc Lavoie discusses the methodological foundations of heterodox economics, and offers a very different model of money and credit, firms and pricing, consumer theory, effective demand and employment and growth theories.

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

Arjun Jayadev, economics professor at Azim Premji University in Bangalore, India, and Achal Prabhala, coordinator of the AccessIBSA project, discusses the urgency of waiving intellectual property protections for vaccines, particularly in light of the on-going COVID-19 pandemic in India and other developing countries.

How do governments accumulate such high levels of debt without constant major crises? Who is paying the price?

An interview with John Nkengasong, Director of Africa CDC, about how a coordinated response to COVID-19 in Africa has proven to be effective

The LEPC is a flagship initiative, designed to bring together leading voices in Law, Economics, and Public Policy to engage with complex, real-world challenges in a comprehensive and interdisciplinary manner.

The Young Scholars Initiative (YSI) is supporting the conference “Hello, Can You Hear Me? Added Value and Inequalities in a Global Market,” that will be held at La Sapienza University of Rome (Italy), on September 20th and 21st. The event is promoted by CEST and funded by the Young Scholars Initiative – INET and by the “Luigi Einaudi” Research Centre.

The last 30 years has seen a massive rise in the importance of financial instruments in the American economy. But what has been the impact of this shift in corporate investment strategy?

On the passing away of Victoria Chick

Luohan Academy will share content while working with INET to plan future co-sponsored events, seminars & more

A meeting hosted by INET’s Commission on Global Economic Transformation (CGET) and Oxfam Strategic Dialogue at the WEF Africa meeting

Why does the apparently prescient and correct “key currency” view remain an embattled minority view?

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.

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

It Could Fall On You.

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.

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

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.

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

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

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

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

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.

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.