History
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Marcello de Cecco (1939-2016)
Mar 10, 2016
Paying tribute to one of the world’s most distinguished economic historians.
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Different Models, Different Politics
Mar 9, 2016
Gerald Friedman responds to the Romers on the Sanders Plan.
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Politics & Economics Don't Mix
Mar 4, 2016
Jamie Galbraith and I rarely agree. But we agree here.
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Economic Forecasting Models & Sanders Program Controversy
Feb 26, 2016
The Romer/Romer letter to Professor Gerald Friedman marks a turning point. It concedes that there are indeed important issues at stake when evaluating the proposed economic policies of Presidential Candidate Bernie Sanders. These issues go beyond the political debate and should be discussed seriously between and among professional economists.
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Confusion Is No Response to Economic Orthodoxy
Feb 22, 2016
Servaas Storm has conviction, yet his analysis throws the baby out with the bathwater.
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What is Missing in Flassbeck & Lapavitsas
Feb 22, 2016
More on substance, coherence, and relevance in the Eurozone debate.
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Working Paper Series
Comments on Paul Davidson’s “Full Employment, Open Economy Macroeconomics, and Keynes’ General Theory: Does the Swan Diagram Suffice?”
Feb 2016
This is a response to a critique by Paul Davidson of our 2013 book Keynes: Useful Economics for the World Economy and related work, where we describe, amongst other things, how the Swan diagram can be used to show how economies can use policy tools to achieve internal and external balance.
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Working Paper Series
Full Employment, Open Economy Macroeconomics, and Keynes’ General Theory: Does the Swan Diagram Suffice?
Feb 2016
This paper provides critical comments on the Peter Temin - David Vines promotion of the basic Swan Diagram as (1) a policy tool to encourage any individual debtor nation experiencing balance of payment deficits to reduce its exchange rate in order to expand exports and reduce imports and (2) the Swan Diagram as a simple model for understanding Keynes’s General Theory for an Open Economy.
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Globalized Finance and the Crisis of 2008
Feb 2, 2016
The world economy is just starting to recover from the most disastrous episode in the history of financial globalisation. Understanding what happened is essential.
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Innovation and the State
Jan 26, 2016
Economic growth and rising prosperity does not happen at the moment of invention. Only an innovation policy aiming to maximise activities throughout the innovation cycle will succeed in capturing economic growth that enhance the welfare of all citizens.
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Relearning History
Jan 19, 2016
Lessons Ignored From the 1930s
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The Institute at ASSA
DiscussionJan 2, 2016
Join us for a reception at the ASSA conference in San Francisco
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Years granted:
2014, 2015, 2016
The Center and the Periphery: The Globalization of Financial Turmoil
This research project creates a new database of international capital flows from the early 19th century, when London became the financial capital of the world, until 1931, when international capital markets collapsed.
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Years granted:
2015, 2016
Worlds of Political Economic Thought in Twentieth-Century China
This research project explores Chinese economic thought of the 1930s, 1940s, and 1950s, with direct relevance to the present day, and in particular focuses on one specific thinker, Wang Yanan, and the intellectual debates he animated and in which he participated as a major theorist.
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Years granted:
2014, 2015, 2016
Becoming “Applied,” Becoming Relevant? Three Case Studies on the Transformation of Economics since the Mid-Sixties
This research project investigates how economists sought to make their science more relevant to real-world issues and policy design from the mid-1960s on, by becoming “applied economists.”