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ProMarket’s new “Addendum to Retraction,” written it appears in response to our recent INET post, doubles down on its critique of our piece which showed that it is feasible for increased output to lead to reduced welfare. The ProMarket addendum is notable for its economic errors.*

Young scholars in the fields of behavioral and experimental economics, philosophy, and related disciplines will be given the opportunity to present their work at a workshop in New York. Samuel Bowles (Santa Fe Institute), Shaun Hargreaves Heap (King’s College London) and Mario Rizzo (New York University) will also present their work and give feedback to the young scholars.

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

State-issued digital money may avoid some pitfalls of cryptocurrency, but it’s no financial panacea

On George Akerlof’s “The Market for Lemons”

This research project investigates the rise of federal credit programs in the United States, leading to a better understanding of the development of federal credit programs.

In our two papers, we analyze how changes in personal and functional (wages versus profits) income distribution interact to produce different macroeconomic outcomes in different countries. On the basis of a stock-flow consistent model calibrated for the United States, Germany, and China, simulations suggest that a substantial part of the increase in household debt and the decrease in the current account in the United States since the early 1980s can be explained by the interplay of rising (top-end) household income inequality and certain institutions (e.g. easy access to credit, privately financed education and health care systems).

I am late to the party on the inventive use of copper by Chinese companies seeking alternative sources of funds.

Despite post-2008 regulations, the boom-bust credit cycle continues to run wild

Austerity has nurtured resentments that will likely make the populist right PVV the biggest winner in the March 15 election — but without the majority or the allies needed to govern

Stock flow consistent macroeconomic models suffer from the lack of a coherent estimation method due to the complicated nature of the modeling process.

Forget the myth of a savings glut causing near-zero interest rates. We have a shortage of aggregate demand, and only public spending and raising wages will change that.

Is raising required bank capital the answer?

Focusing on what money really is – whether gold or state fiat – shifts attention away from what credit really is, which is to say away from the center of discontent.

Adair Lord Turner, former Chairman of Great Britain’s Financial Services Authority and current Senior Fellow at the Institute for New Economic Thinking, will argue in a keynote address to the Federal Reserve Bank of Chicago on Thursday that central banks must be equipped in future to address the dangers of excessive private sector leverage, using both pre-emptive interest rate policy and macro-prudential policy tools.