Laws & Patents

    Stronger patents can lead to more innovation by creating an incentive for research and development. They also can be used protectively, creating long-lasting monopolies. At the Institute, we're asking to what extent the law should safeguard patents, and where patent law hurts economic progress.

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    The Chinese Economic Model Revisited: Any Implications for the New Economic Thinking?

    The president of INET, Johnson(2013) emphasized the importance of Asian tradition for building up the New Economic Thinking. “It ismy sense that the Asian tradition of thought and philosophical perspective are better suited to embracing this radical uncertainty and living in the experimentation of the adaptive complex system that our world appears to resemble than are the Western mindsets that are the product of the Cartesian Enlightenment.” In the summary he argues that “As the Asian societies continue to evolve the architects will be better served by an new economics for Asia and from Asia that is based on the notions of radical uncertainty, complex adaptive systems, mimetic desire, the inseparability of politics and economics, and a vision of a world where policy makers are themselves less knowing and less capable of control than we often yearn to believe is within their power.” Read more

    Narrative in Teaching Economics

    Economics has advanced an enormous distance from the Walrasian paradigm and the Neoclassical synthesis. However, undergraduate curriculums continue to heavily favour these views of what economics is and what tools it provides for understanding contemporarypublic problems. Read more