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I am pleased to announce that the History of Economic Thought Website is back. I am thankful for the assistance of the Institute for New Economic Thinking (INET), which has supported its revival and made it possible.

In his two-tome, 1400 page Dutch Leerboek der Staathuishoudkunde (Textbook of Economics), first published in 1884, Nicolaas Pierson (1839 - 1909) accuses the great Scotsman of being a communist – or at least of consciously clearing the way for the socialists with their ideal of a communist society.

The central challenge confronting us in the future of work is this: can we create a future where work exists for all who need one with fair rewards, or will we end up on the path of increasing displacement, leaving workers vulnerable, dispensable, and miserable?

This research project explores the factors producing “herding” in the economics profession and professional investment community with the goal of articulating policy changes appropriate to the organization of the economics profession and its practices in particular.

During her long career she illuminated many of the shortcomings of neoclassicism, and offered alternative paths

In Europe and the United States, stock-based compensation discourages long-term corporate sustainability

With the RMB in the SDR, careful progression in China could balance the international monetary system.

Robert Skidelsky knocks the scientific halo off mainstream economists’ teaching and research

And what was QE about anyway?

Adair Turner discusses his new book, Between Debt and the Devil: Money, Credit, and Fixing Global Finance.

This research project creates a computational model of the current financial crisis to discover the essential elements needed to reproduce the crisis, while investigating alternative policies that may have reduced its intensity and strategies for recovery.

Adair Turner talks about his new book, Between Debt & the Devil: Money, Credit, and Fixing Global Finance with Martin Wolf of the Financial Times in a free, public discussion.

Hannah Farber discusses her book and explains how the insurance business and the United States discovered that they were good for one another.

To fight COVID-19, the EU must recognize that spending restraints have to go

INET presents you a paper that deals with the relationship between economics and the world we live in. John Kay spells out methodological critiques of economic theory in general, and of DSGE models and rational expectations in particular. The paper builds on two articles that Kay, Fellow at St. John’s College of Oxford University and Visiting Professor at the London School of Economics, recently published in the Financial Times (scroll down to find the links). It is concerned with the relation of quantitative models to the world in which we live, and with evergreens such as the implications of unrealistic assumptions in economic theory. Highly recommended reading. INET forwarded Kay’s paper to a handful economists and invited them to respond. In the following days, we are going to publish direct responses to the paper by a handful of prominent economists. Follow the INET Blog and stay tuned to what is going to be a healthy discussion.