Technology & Innovation
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Working Paper Series
Innovative Enterprise or Sweatshop Economics? In Search of Foundations of Economic Analysis
Oct 2015
By integrating the history of industrial development in Britain and the United States with the ideas of leading economic thinkers, this essay demonstrates the absurdity of perfect competition as the ideal of economic efficiency.
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What the Steve Jobs Movie Won’t Tell You About Apple’s Success
Oct 23, 2015
Public funding behind the technology is the secret ingredient.
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What Really Caused the Crisis & What to Do About It
Oct 14, 2015
Adair Turner discusses his new book, Between Debt and the Devil: Money, Credit, and Fixing Global Finance.
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Big Finance, Demystified
Oct 8, 2015
John Kay shares findings from his new book, Other People’s Money, and his insights on changing the financial sector.
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Latest Institute Grants Announced
Jul 17, 2015
The Institute for New Economic Thinking has awarded $2 million in grants to fund 21 different projects as part of the latest round of its research grant program.
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It's Time to Get Radical on Inequality
Jun 25, 2015
America’s economic system has failed by not raising living standards for most.
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How Elite Power Brokers Corrupt our Finances, Freedom, and Security
Jun 14, 2015
Janine Wedel charts the fast–evolving system of power and influence. Who is accountable? What are the remedies available to the average citizen?
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America’s Competition Fetish Kills Creativity and Produces Human Sheep
May 28, 2015
Margaret Heffernan on her latest book, A Bigger Prize: Why Competition Isn’t Everything And How We Do Better
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Working paper
Contagion Exposure and Protection Technology
May 2015
People adopt diverse measures to protect from contagion. I propose a taxonomy of protection technologies, and present a model to study the implications of the technology on the prevalence of infections and on welfare at different levels of exposure.
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Working paper
Input Diffusion and the Evolution of Production Network
Apr 2015
The adoption and diffusion of inputs in the production network is at the heart of technological progress. What determines which inputs are initially considered and eventually adopted by innovators? We examine the evolution of input linkages from a network perspective, starting from a stylized model of network formation.
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Upholding the Rule of Law
Apr 13, 2015
Here we are, some 7 years after the Great Financial Crisis, and not one senior banking executive has gone to jail.
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Conference paper
Austeritarianism in Europe: What Options for Resistance?
Apr 2015
In much of Europe, the social rights and social protections won in the first post-war decades, by labour movements in particular, have subsequently been seriously eroded, and are further threatened by neoliberal austerity.
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Conference paper
Reflexivity, expectations feedback and almost self-fulfilling equilibria: economic theory, empirical evidence and laboratory experiments
Apr 2015
We discuss recent work on bounded rationality and learning in relation to Soros’ principle of reflexivity and stress the empirical importance of non-rational, almost self-fulfilling equilibria in positive feedback systems.
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Conference paper
How Money Drives US Congressional Elections: More Evidence
Apr 2015
“Because many interests come into play in the financing of an election campaign and then they ask you to pay back. So the election campaign should be independent from anyone who may finance it.” - Pope Francis
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Conference paper
The Prince('s) Rules: Economic Theories and Political Struggle in Europe.
Apr 2015
The Cyclically Adjusted Budget (CAB) is the estimated size of the public budget at some previously defined level of output which may represent the ‘normal’ output or a policy target and that usually is considered to be unaffected by business fluctuations or cycles. Such an estimate is supposed to isolate the automatic movements of revenues and expenditures, given the current structure of tax and transfers, from discretionary fiscal interventions and indicate the “impact” and sustainability of fiscal action.