Education

The optimism embedded in the efficient market hypothesis has been one of the main sources of the recent turmoil

The financial crisis of 2007-2009 should have been sufficient empirical evidence to indicate that the axiomatic basis of the mainstream theory needs to be replaced.

The future of macro, he says, may well make “the formation and revision of expectations an object of analysis in its own right.”

The reputation of economics and economists, never high, has been a victim of the crash of 2008.

In response to the walkout staged by students in the intro economics class at Harvard, the Institute launched the syllabus project, 30 Ways to Teach Economics.

Robert Skidelsky and Perry Mehrling report on the project at the Institute’s 2011 Bretton Woods conference.

Joseph Stiglitz at the Institute’s debut conference in Cambridge, UK (2010).

The purpose of the paper is to argue for attention to be paid, not only to choice of theory, but also to choice of theoretical approach, in order to address issues posed by the crisis.

The Institute for New Economic Thinking convened many of the world’s most distinguished economists, academics and thought leaders at its inaugural Conference at King’s College, University of Cambridge.

The aim of the two-semester sequence is to explore a coherent alternative to neoclassical and post-Keynesian theory that does not rely in any way on concepts of utility maximization, rational choice, rational expectations, or perfect/imperfect competition.

Many thought the financial crash was a final blow to capitalsim. Why does it still reign supreme? Anatole Kaletsky outlines the shape of things to come.