Archive
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Are You Ready to Dive Deep into China's Intellectual Odyssey?
Apr 25, 2024
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.
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Industrial Policy Is a Good Idea, but So Far We Don’t Have One
Apr 19, 2024
The American state has lost the capacity for concentrated and decisive effort at the forefront of technology and the associated science.
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Overdraft Fees, Credit Card Late Fees, and the Lump of Profit Fallacy
Apr 15, 2024
Predetermined profit margins and prices hidden in the back end of a transaction are really just market failures.
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Bernanke and Blanchard’s Obsession with the Wage-Price Spiral
Apr 8, 2024
Bernanke and Blanchard have made another failed attempt to salvage establishment macroeconomics after the massive onslaught of adverse inflationary circumstances with which it could evidently not contend.
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Europe's New Fiscal Rules Harm Working People and Women, Boost Right-Wing Radicals
Apr 5, 2024
Behind bogus promises of job creation and economic growth lies a dangerous agenda to shred social safety nets.
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The Global Pharmaceutical Industry Isn’t Investing in Products for the Greatest Burden of Human Disease - Are Non-Profits a Solution?
Mar 29, 2024
Programs for expedited review may be preferentially reducing the development costs for conditions with lesser disease burden, potentially making investments in addressing the most significant disease burdens even less appealing and exacerbating the market failure further.
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The European Union’s New Risk-Based Framework for Fiscal Rules – Overly Complex, Opaque and Self-Defeating
Mar 22, 2024
The discrepancy between technocratic rhetoric and economic facts is colossal.
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Experts: Negotiating Big Pharma's Prices Won't Stifle Innovation—They Don't Use the Money to Innovate!
Mar 14, 2024
Industry lobbyists vehemently oppose Medicare drug price negotiations. However, physician-scientist Fred Ledley and economist William Lazonick debunk their arguments.
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How Should the Government Negotiate Medicare Drug Prices? A Guide for the Perplexed
Mar 4, 2024
The “maximum fair price” for a drug must not only be equitable to those with unmet medical needs who may benefit from the use of the drug but also provide equitable returns on both public and private sector investments.
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Can Baby Bonds Fight the Wealth Gap and Racial Inequality? Connecticut Aims to Find Out.
Feb 27, 2024
Connecticut is the first state to fund and enact a baby bonds program, inspiring more states to create their own plans. Can it make a difference?
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Inflation and Power
Feb 12, 2024
It was a mistake to accept a ‘reference price’-determination process for basic commodities led by finance
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Trump, Populism, and the Republican Establishment: Two Graphs From New Hampshire
Feb 2, 2024
This year’s New Hampshire primary testifies to the disintegration of the Republican Party
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What’s the Fate of Social Security in a Brutally Unequal America?
Feb 1, 2024
White House contenders ignore root causes threatening the program, potentially worsened by cuts. Is it due to reliance on wealthy donors?
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Monetary Policy, Illiquidity, and the Inflation Debates
Jan 29, 2024
The key issue is the regulation of the liquidity of all financial markets, and not just that of the banking system
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Bagehot on Money: A Bridge Between Bankers and Economists?
Jan 22, 2024
Reinterpreting Bagehot’s mature work as the origin of the key currency tradition
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Occupation, Gender, and Labor Market Volatility
Jan 16, 2024
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.
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Finally, an Economist Takes on the Topic of Power
Jan 16, 2024
Alessandro Roncaglia has mulled the topic of power over his long and distinguished career – a topic most economists avoid. His new book explores the historical dynamics of power and asks how we can change its distribution today.
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As Presidential Hopefuls Spar on Social Security, This Expert Separates Fact from Fiction
Jan 12, 2024
Eric Laursen, author of The People’s Pension, explains to INET’s Lynn Parramore what’s at stake for Americans in a year of sneak attacks and misinformation.
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Unhappy New Year: How Austerity is Making a Comeback in Berlin and Brussels
Jan 4, 2024
Germany’s debt brake and EU fiscal rules will make it well neigh impossible for EU countries to fund the investments needed to decarbonize their economies.
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American Household Debt: A Reappraisal
Jan 2, 2024
Which households are more exposed to financial risk and to what extent is their debt systemically relevant?
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Renowned Political Scientist: Can We Really Save American Democracy?
Dec 19, 2023
In an exclusive interview, Benjamin Page discusses urgent reforms needed to tackle critical challenges, from undemocratic institutions to economic inequality.
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How GM’s $10-Billion Buyback May Ice Its EV Transition
Dec 18, 2023
Reindustrialization vs Financialization
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Africa’s Crisis Is Also an Opportunity
Dec 12, 2023
“If we get our policy, politics, and institutions right, African economies and society could gain greater energy and food security, built on green competition and taking strong action on climate change.“ —Professor Chuks Okereke, Director of the Centre for Climate Change and Development at Alex Ekwueme Federal University
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Is American Banking Safe? You Might Not Like The Answer from Two Fed Veterans
Dec 4, 2023
Walker Todd and Bill Bergman expose the untold story of banking instability, regulatory battles, and the struggle to protect the public from financial chaos
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The Dutch Earthquake
Nov 30, 2023
Why did so many Dutch voters vote for the far-right Geert Wilders?
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Democratic Reform at a Time of Dire Troubles
Nov 27, 2023
What sort of effective democratic political system does the United States want and need?
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What Does Mustard Gas Have in Common with Crypto and Blockchain?
Nov 20, 2023
In his new book, Let Them Eat Crypto, Peter Howson cautions that the technologies are not just fraudulent but causing indefensible harm to both humanity and the planet.
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Jim Chanos: “The Crypto Ecosystem Is Well-Suited for the Dark Side of Finance.”
Nov 9, 2023
The famed short-seller talks Sam Bankman-Fried, why Wall Street is still so keen on crypto, and how technology is making us dumber.
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The Golden Age of AI Complementarity?
Oct 30, 2023
Recent developments in AI have added fuel to debates that have long simmered amongst economists, which could lead to a rethinking of economics itself.
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Theories of Economic Crises
Oct 24, 2023
The theoretical approaches to analyzing crises have behind them contrasting conceptions of the way the economy works
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After Poland’s Elections: Democracy and Keynesianism?
Oct 16, 2023
In accepting mass unemployment, post-communist governments and the democratic parties that constituted them removed the economic foundation for Poland’s democracy.
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In the Footsteps of Ptolemy: The ‘Science of Monetary Policy’ and the Inflation of 2021-2023
Oct 9, 2023
The impenetrability of this continuously expanding Ptolemaic New Keynesian paradigm is maddening
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Antitrust Enforcement in the Crosshairs
Oct 6, 2023
Post-Chicago Economists vs. New Brandeisians on the New Merger Guidelines
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What the UAW and Everyone Else Need to Know About CEO Pay
Oct 2, 2023
What is GM CEO Mary Barra’s take-home pay? (It’s more than you are being told)
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Everyone Versus Google: Will Big Tech Be Held Accountable?
Sep 28, 2023
The tech giant is in the hot seat, but it’s going to be a “big fight,” warns antitrust expert Mark Glick.
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Is Too Big to Fail Over?
Sep 22, 2023
We have made progress but not enough to forestall crises
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Creating the Post-2008 Global Safety Net: Fed Precedents, Instruments, and Targets
Sep 18, 2023
The “liquidity” support provided by the Fed to megabanks through cross-border lending in fact acted as subsidies
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Reflections on the 15th Anniversary of the Lehman Brothers Failure
Sep 15, 2023
What lessons need to be drawn on this anniversary?
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What Has the World Learned from COVID-19? So Far, Not Nearly Enough
Sep 12, 2023
By all accounts infection rates have ebbed. But were we good or were we lucky?
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How Shareholder Value Fixation Turns AI and Robotics into a Recipe for Failure
Sep 11, 2023
New technologies are not the problem. It’s a system distorted by a flawed ideology.
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Postscript: A Further Look at ProMarket’s Economics
Sep 8, 2023
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.*
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The Mythology of Horizontal Merger Efficiencies
Aug 31, 2023
Economists had to distort economic theory to fashion their merger “efficiency” arguments
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Labor Economist: AI May Bring a Boom in Horrible Jobs
Aug 28, 2023
Losing jobs isn’t the only thing workers have to worry about. AI may make many jobs worse.
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The Scourge of Corporate Financialization: Income Inequity, Employment Instability, Productive Fragility
Aug 21, 2023
Stock buybacks as a mode of predatory value extraction
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Now You See It, Now You Don’t: Antitrust Arguments “Chicago Style”
Aug 17, 2023
ProMarket and the Consumer Welfare Standard An output increase is not sufficient to increase welfare. Allocation—how goods are distributed—matters.
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How to Fix Monetary Policy in Advanced Countries
Aug 14, 2023
The monetary policies of major central banks in advanced economies have had negative consequences and thus need to be fixed
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Climate Finance: Where Does the Money Come From and Who Gets It?
Aug 7, 2023
Reaching climate goals means rich countries must invest in sustainable technologies in developing countries with huge energy needs.
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As the Ukraine War Drags On, It’s Time to Reassess the Impacts of Sanctions
Aug 2, 2023
The bundle of sanctions was initially designed and imposed in haste, with little basis to assess historic performance.
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Inflation Narratives and Their Consequences
Jul 31, 2023
On the reflexive relationship between inflation and inflation narratives
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Central Banks and Income Distribution: Does the Taylor Rule Push Up Rentier Incomes?
Jul 27, 2023
The effect of monetary policy on the functional distribution of income
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We Need a Double Pronged Public-Private Approach to Food Security
Jul 19, 2023
Dr. Agnes Kalibata, President of AGRA, on how the Ukraine conflict has been a big wake-up call for many African governments, the huge importance of investing in soils, and her frustration at the slow pace of climate mitigation.
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Why is Getting Old So Hard and Expensive in America? New Book Challenges How We Think.
Jul 18, 2023
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.
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Subsidizing Chemical Fertilizers is Counterproductive
Jul 13, 2023
By reducing our reliance on chemical fertilizers, policymakers could turn today’s food crisis into a genuine opportunity towards shifting subsidies from agribusiness-led to agroecological-led farming systems
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The Origins of the Investment Theory of Party Competition
Jul 13, 2023
Preface to the Japanese Edition of Golden Rule
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Economics v. the Earth: New Book Explores the History of a Tense Relationship
Jul 6, 2023
Fredrik Albritton Jonsson and Carl Wennerlind reveal how centuries of belief in infinite growth on a finite planet have put us all in danger
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Central Banks, Green Finance, and the Climate Crisis
Jun 29, 2023
The tough policy choices ahead for confronting the climate crisis
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Oil Prices, Oil Profits, Speculation, and Inflation
Jun 26, 2023
The role of speculation in the crude oil market in the increase in the WTI crude oil price.
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ER Doctor: "Private Equity in Medicine is Dangerous to Patients"
Jun 22, 2023
Dr. Ming Lin, and healthcare providers like him, are fighting to take back control of medicine from private equity firms that are gobbling up practices and facilities. Should Wall Street make life-and-death decisions based on the bottom line?
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Profit Inflation and Markups Once Again
Jun 15, 2023
Inflation and corporate profits, a further discussion, responding to Servaas Storm
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Profit Inflation Is Real
Jun 15, 2023
Inflation and corporate profits, a further discussion
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How This Regional Bank Mortgage Lender Crisis is Different
Jun 12, 2023
Every banking crisis has its own overarching narratives and coincidental streams of various sub-narratives that course through the marketplace day to day.
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We Owe an Apology to Adam Smith
Jun 7, 2023
Smith did not advocate a single-minded pursuit of profit
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Profit-Led Inflation Redefined: Response to Nikiforos and Grothe
Jun 6, 2023
Besides changes in institutions and social norms, other phenomena could explain a rise in the profit share.
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Markups, Profit Shares, and Cost-Push-Profit-Led Inflation
Jun 6, 2023
To what extent is profit-led inflation compatible with what we know about the price-setting behavior of firms and income distribution?
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Sexual Harassment and Wages: The Paradox of Power
Jun 2, 2023
The wage effect of hostile working conditions, mainly in terms of sexual harassment risk in the workplace, should be considered and monitored as a first critical step in making women less vulnerable at work and increasing their bargaining power.
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Feminist Economist Challenges Field to Deal with Women’s Bodies
Jun 1, 2023
In her new book “Naked Feminism,” Victoria Bateman explains how economic conditions drive restrictions on women’s bodily freedom and why that freedom is critical to economic prosperity.
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No Bargain: Big Money and the Debt Ceiling Deal
May 30, 2023
What is the real reason Democratic party leaders go along with the debt ceiling ritual?
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A New Approach for Estimating Firm-Level Cyber-Risk Exposure
May 22, 2023
Using computational linguistics to estimate firm-level cyber risk exposure based on quarterly earnings conference calls.
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“Crypto is a Fraud on the Public”: Financial Watchdog Explains Ties Between Crypto and the Banking Crisis
May 11, 2023
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.
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Fatima Denton: We Need to Create Spaces to Democratize the ‘Just Transition’
May 8, 2023
“We need to look at the early warning systems in place and aspire to attain food security.”
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Merger Tests in Practice: A Critical Analysis
May 8, 2023
Current tests for mergers are in practice deeply flawed.
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Private Equity is Out of Control and Looting America. This Prosecutor Says We Can Fix It.
May 2, 2023
In his new book, “Plunder: Private Equity’s Plan To Pillage America,” Brendan Ballou, a federal prosecutor who served as Special Counsel for Private Equity in the Justice Department’s Antitrust Division, outlines the dangers of a trillion-dollar industry that hardly anyone understands. He explains how Americans can fight their harmful practices.
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Markets and Artificial Intelligence
Apr 24, 2023
What happens when we fuse, for the first time, artificially intelligent agents into either our market or political structures?
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Should We Focus on the Problems of the Elite, or Those Faced by the Majority of the African Population?
Apr 20, 2023
Professor Youba Sokona, Vice-Chair of the Intergovernmental Panel on Climate Change (IPCC) and African energy specialist, on how the Ukraine conflict had re-shaped thinking amongst many Africans, and on the transformation in leadership needed to address the problems faced by the majority of Africa’s people.
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¿Otra crisis de la deuda en el Sur Global? Economista revela la clave para entenderla.
Apr 17, 2023
Martín Guzmán, ex ministro de Economía de Argentina, explica cómo el rol del poder debe ser central en la investigación económica, especialmente cuando se trata de deuda soberana.
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Another Debt Crisis in the Global South? Economist Reveals the Key to Understanding It
Apr 17, 2023
Martin Guzman, Argentina’s former Minister of Economy, explains how the role of power should be central to economic research – especially when it comes to sovereign debt.
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The Effect of Sanctions on Russia: A Skeptical View
Apr 11, 2023
Sanctions on Russia are isomorphic to a strict policy of trade protection, industrial policy, and capital controls.
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Article
Bank Stocks Rallied Today, But…
Mar 27, 2023
Morale hazard can turn into a darker ‘moral’ hazard
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The Financial Crisis of 2023: Protecting Big Finance, Coming and Going
Mar 27, 2023
There needs to be a safe place for businesses to place their reserves and working capital
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Anatomy of a Banking Crisis
Mar 27, 2023
There is a banking crisis. Again. Banking regulators were asleep at the switch. Again.
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How to Stop Bank Runs and Get Taxpayers Off the Hook
Mar 27, 2023
A federal government guarantee or 100% reserve banking? Which is better?
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People’s Deposits Are Safe From Bank Failures But Not From the Economic Fallout
Mar 27, 2023
Bank failures don’t threaten most deposits, but they do threaten jobs
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Shifting Downward: How a Change in Fed Culture Hurt Bank Supervision
Mar 27, 2023
The explanation of systematic breakdowns in supervisory oversight over time must include the shift in Federal Reserve culture during and after the 1990s
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Postscript to INET’s Symposium on the Banking Crisis
Mar 27, 2023
Austerity for ordinary citizens and bank rescues for the affluent is a toxic mix
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Can it Happen Again?
Mar 27, 2023
This time is different. But is it?
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What’s Actually Behind the Banking Crisis? Why You Pay When They Play.
Mar 23, 2023
In the following conversation, law and economics expert Walker Todd explains how a financialized system creates havoc and why it’s time to rethink banking
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Why is America So Anti-City? It Holds Back the Entire Country.
Mar 20, 2023
A new book by economist Richard McGahey examines the country’s anti-urban structure and ideology, offering insights on how American cities can thrive.
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Now Is the Time for More Ambition From Multilateral Development Banks and Their Shareholders
Mar 14, 2023
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.
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SVB RIP: A Look Backward
Mar 13, 2023
INET Research on Financial Sector Weakness and Too Big to Fail
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Emerging Markets and the Balance of Payments: Challenges to Growth and Sustainability
Mar 13, 2023
A model that captures key vulnerabilities and structural weaknesses of developing countries’ trade and production structures.
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Ayn Rand vs. Elinor Ostrom: The Fight for the Future of Social Media
Mar 9, 2023
The contrasting ideologies at play in this tech sector mirror the conflicting ideologies in economics
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Edward J. Kane: A Short Tribute
Mar 3, 2023
On the passing away of Edward J. Kane
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Losing Out in Critical Technologies: Cisco Systems and Financialization
Feb 28, 2023
Cisco’s turn from innovation to financialization and what it means for the competitive position of the US information-and-communication-technology industry
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The Two Global Consensuses That Defined the Development Paradigm in Ghana Are Under Threat
Feb 27, 2023
Honorary Vice President at IMANI Center for policy and education, Bright Simons, on the challenges Ghana is facing
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Meet the Man Who Helped Make the Dollar the World’s Currency
Feb 23, 2023
Perry Mehrling’s new book traces the rise of the dollar through the life and career of influential economist Charles Kindleberger
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We Need to Talk About the Original Sin of Economics
Feb 15, 2023
How a bleak Christian theology influenced the development of the dismal science
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Global Value Chains and Income Distribution Profiles: A World Survey
Feb 6, 2023
How can we quantify the wage share implied by varying degrees and types of participation to Global Value Chains?
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Victoria Chick (1936-2023)
Feb 6, 2023
On the passing away of Victoria Chick
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The Quasi-Inflation of 2021-2022: A Case of Bad Analysis and Worse Response
Feb 2, 2023
Why the conventional tools of the Phillips Curve, NAIRU, potential output, and money-supply growth are useless
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Luigi Pasinetti (1930-2023)
Feb 1, 2023
On the passing away of Luigi Pasinetti