Sraffa’s Revolution in Economic Theory
Dec 26, 2016
The prominence of the debate over ‘reswitching’ has obscured the importance of Piero Sraffa’s profound contribution to economics. It’s time to revisit and build on that body of work
A New Tool For Teaching Pluralist Economics
Dec 20, 2016
Students in Europe have created an important resource for those seeking alternative curricular materials
Curriculum Reform is Vital if Economics is to Serve Humanity
Dec 7, 2016
Joe Earle, co-founder of The Post-Crash Economics Society, member of Rethinking Economics and co-author of the Econocracy, explains why his group is trying to democratize economics as a conversation and a policy–making process.
Is Technology Killing Capitalism?
Aug 17, 2016
Is Market Capitalism simply an accident of certain factors that came together in the 19th and 20th centuries? Does the innovation of economics require a new economics of innovation? Is the study of economics deeply affected by the incentive structures faced by economists themselves, necessitating a study of the “economics of economics”?
There Isn’t Really a ‘Mainstream’ at All
Aug 11, 2016
There is a mix of common-sense opinions, political prejudices, conventional business practice, and pragmatic rules of thumb, supported in an ad hoc, opportunistic way by bits and pieces of economic theory.
Why Does Economics Reject New Thinking?
Jul 29, 2016
On George Akerlof’s “The Market for Lemons”
How MBA Programs Drive Inequality
Jul 7, 2016
Business school students are taught to extract resources instead of creating value.
Profound Changes in Economics Have Made Left vs. Right Debates Irrelevant
May 31, 2016
New economic thinking has the potential to make political debates far more productive
A Teachable Moment for the Economics Profession?
May 27, 2016
What we’re reading: A weekly scan of published items relevant to the Institute’s work
Improving the Teaching of Econometrics
May 12, 2016
A major shift is needed in the Econometrics curriculum for both graduate and undergraduate teaching to include modern topics.
Why Liberal Economists Dish Out Despair
Apr 20, 2016
Orthodox macroeconomics has become a place where visions die and hopes are banished, for both liberals and conservatives.
The Institute at ASSADiscussion
Jan 2, 2016
Join us for a reception at the ASSA conference in San Francisco
Externalities and Public Goods: Theory OR Society?
Nov 19, 2015
How much does the standard theory of externalities and public goods really say?
Working Paper Series
The American Dual Economy: Race, Globalization, and the Politics of Exclusion
I describe the American economy in the twenty-first century as a dual economy in the spirit of W. Arthur Lewis.
Matching the Moment, But Missing the Point?
Oct 19, 2015
This essay critically evaluates the benefits and costs of the dominant methodology in macroeconomics, the DSGE approach. Although the approach has led to great progress in some areas, it has also created biases and blind spots in the profession that hold back our understanding and our ability to govern the macroeconomy. There is great scope for progress in macroeconomics by judiciously pushing the boundaries of some of the methodological restrictions imposed by the DSGE approach.