Government & Politics
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An Effective Response to Europe’s Fiscal Paralysis
Nov 30, 2020
Individual EU member states ought to issue perpetual bonds
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How Biden Can Protect Workers on Day 1
Nov 13, 2020
By fully utilizing the power of the Occupational Safety and Health Administration (OSHA), President Biden could take meaningful steps to keep workers safe during the pandemic, even without Congress’s help
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YSI 2020 Plenary: New Economic Questions
Young Scholars Initiative Virtual Plenary
YSI
PlenaryNov 6–15, 2020
What are the 100 most pertinent economic questions facing our global societ?
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Affluent Authoritarianism: McGuire and Delahunt’s New Evidence on Public Opinion and Policy
Nov 2, 2020
New INET research shows once again that it’s large firms and the 1%—not the “median voter”—who drive U.S. policy
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Working Paper Series
Predicting United States Policy Outcomes with Random Forests
Nov 2020
In this paper we analyze the Gilens dataset using the complementary tools of Random Forest classifiers (RFs), from Machine Learning.
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Vera Songwe: "Let’s build forward better!"
Oct 30, 2020
In this interview, Dr. Vera Songwe, economist and Executive Secretary of the United Nations Economic Commission for Africa reflects on the ways that African governments have handled COVID-19, the role of the Continental Free Trade Agreement in turbo-charging future growth, the vital role of infrastructural investment and mobilising domestic resources for building forward better and greener.
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"Shadow" Lobbyists Run Rampant in the Swamp
Oct 27, 2020
Unregistered lobbyists, including former members of Congress, are a key resource for lobbying firms
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Working Paper Series
Shadow Lobbyists
Oct 2020
Unregistered lobbyists, including former members of Congress, are a key resource for lobbying firms
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Cybersecurity Expert: What the Media Miss on America’s Election Risks
Oct 23, 2020
David Mussington, a leading expert on cybersecurity, reveals what’s worrying him, from Facebook to foreign interference.
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Edward Brown: “Growth with ‘DEPTH’ should guide economic transformation in Africa”
Oct 2, 2020
In this interview, Folashadé Soulé and Camilla Toulmin discuss with Edward K. Brown, Senior Director, Research and Advisory services at the African Center for Economic Transformation (ACET) based in Accra, Ghana, on the effects of COVID-19 on regional integration and economic transformation in Africa, and the role of ACET and African think tanks in advising African governments respond to the crisis.
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How Corruption is Becoming America’s Operating System
Oct 1, 2020
New book by Sarah Chayes reveals the country’s descent into a level of corruption usually associated with places like Nigeria and Afghanistan
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How NAFTA Lost Democrats the South
Sep 15, 2020
For thirty years after the Civil Rights Act, a sizable share of white Southerners still voted Democrat. That changed when the party embraced trade deals that hurt American workers.
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Working Paper Series
Voting Rights, Deindustrialization, and Republican Ascendancy in the South
Sep 2020
How NAFTA led to GOP dominance of the American South
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Debt Talks Episode 2 | Debt, Wealth, and Racial Inequalities
Webinarmoderated by Moritz Schularick with Mehrsa Baradaran, Ashley C. Harrington, Darrick Hamilton and Louise Seamster
Hosted by Private Debt
Sep 15, 2020
Racial inequalities of wealth and income are pervasive. This episode of Debt Talks will feature a conversation with four prominent experts on the persistence of racial inequalities of wealth and income and the role of financial markets in shaping them.
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What Happens When a Noted Female Economist Fights Toxic Culture in the Field?
Sep 9, 2020
Claudia Sahm dares to call out systemic bullying and harassment that drives out talent and compromises science. Perpetrators are not happy.
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Working Paper
Germany and China Have Savings Gluts, the USA Is a Sump: So What?
Aug 2020
An alternative look at the “global savings glut”
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How Might the Pandemic Change the World Economy? Peering into the Future
Webinarwith Dr. Kaushik Basu
Aug 6, 2020
While policymakers around the world are in fire-fighting mode, trying to keep the economies in their charge running and the mysterious pandemic under control, the global terrain beneath our feet is shifting. Which countries will emerge as winners and losers in the new global landscape?
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Working Paper
How “Maximizing Shareholder Value” Minimized the Strategic National Stockpile: The $5.3 Trillion Question for Pandemic Preparedness Raised by the Ventilator Fiasco
Jul 2020
The success of projects for pandemic preparedness and response depends on the strength of government-business collaborations.
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Immaculate Deception
Jul 20, 2020
How and Why Bankers Still Enjoy a Global Rescue Network
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Working Paper Series
Immaculate Deception: How (and Why) Bankers Still Enjoy a Global Rescue Network
Jul 2020
A look at Dodd-Frank’s impact
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Building a Global Economic Response to COVID-19
Webinarwith Mohamed A. El-Erian | 12:30pm ET / 9:30 PT
Jul 16, 2020
As the world economy seeks to emerge from the deep recession caused by the pandemic, economic nationalism and isolationism are on the rise. Yet the better response to lower growth and worsening inequality could involve globally-coordinated policy responses that focus on broad based, sustainable economic growth. Now more than ever it is time for a new global economic policy paradigm that can facilitate a strong recovery.
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Big Pharma Wants to Pocket the Profits From a COVID Treatment You Already Paid For
Jul 7, 2020
Gilead’s shareholders want exorbitant profits from Remdesivir, even though it was the public that enabled its development.
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The Good, the Bad, and the Ugly About the Fed’s New Credit Allocation Policy
Jun 30, 2020
The Fed is taking an aggressive approach to put out the economic fires of the pandemic. But it needs to allow for flexibility as some business models irreparably change.
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The COVID-19 Bailout and its Financing Dilemmas
Jun 30, 2020
The speed and duration of COVID-19 economic recovery will depend on how the government will finance emergency programs.
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OSHA in the 21st Century: Real Protection for America’s Workers
Jun 25, 2020
The Occupational Safety Health Administration was created 50 years ago. Today, it’s in dire straits, say OSHA’s leaders during the Obama administration
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Trillions in COVID-19 Bailouts: Where Did it Go?
WebinarIn Discussion: Jesse Eisinger, Pulitzer Prize Winner, Senior Reporter and Editor for ProPublica with Rob Johnson, President of INET | 12:00pm ET - 9:00am PT
Jun 18, 2020
In March the US government authorized the largest domestic bailout in history. Who were the real winners and losers of this bailout? Pulitzer Prize winning reporter Jesse Eisinger has been following the money.
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Reshaping Economic Strategy After COVID-19
Webinarwith Dani Rodrik 12:00pm ET / 9:00am PT
Jun 11, 2020
As the collapse of global supply chains highlights the fragility that comes with economic interdependence, the pandemic is fueling the rise of ethnonationalism. Policy decisions in response to the crisis will play an important role in determining the fate of the world economy.
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Why a V-Shaped Recession Is a Pipe Dream
Jun 8, 2020
Regardless of what Trump says, the economic pain of the pandemic isn’t going anywhere
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Money, Politics, and Social Conflict in the Age of COVID & YSI Discussion
Webinarwith Thomas Ferguson - 12pm ET / 9am PT
Jun 4, 2020
Every country has had a different policy response to the crisis; and within countries different political parties have championed various approaches. How has COVID-19 affected politics and social life in developed western countries?
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The Fleming Myth and the Public Sector Contribution to Discovery and Development of New Cancer Drugs
Jun 2, 2020
Abstract, “basic science” research is essential to drug discovery. It is also largely funded by the public sector.
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A Global Perspective on the COVID-19 Pandemic
Webinarwith Michael Spence - 12pm EDT / 9am PDT
May 21, 2020
The economic and social costs of the global lockdown have been astronomical but as governments look to begin the process of reopening economies it will be critical to develop strategies that balance both the health and economic risks of the pandemic.
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Indian Economic Policy: Stimulus, Deficits and Privatisation
May 20, 2020
Over five phased announcements last week, the Indian government set in motion an unprecedented fiscal stimulus. Gaurav Dalmia looks at India’s near-term economic challenges and offers a prescription on how privatisation can help India achieve its objectives.
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Europe’s Hamiltonian Moment...or the Beginning of the End?
Webinar11:30am EDT / 5:30pm CET
May 20, 2020
A webinar panel discussion, moderated by Gillian Tett, US Managing Editor of the Financial Times, with Laurence Boone, OECD Chief Economist, Moritz Schularick, INET Research Fellow, and Adam Tooze, Director of the European Institute at Columbia University.
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The Economics and Politics of Social Democracy: A Reconsideration
May 14, 2020
To able to deal with these consequences, our crisis response now should not lock us in into a permanent state of austerity, greater inequality and heightened vulnerability to future health calamities. New-old social democratic solutions are needed more than ever before.
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Working Paper Series
The Economics and Politics of Social Democracy: A Reconsideration
May 2020
The popular discontent and rise of ‘populist’ political parties is closely related to the failure of New Labor to navigate social democracy’s dilemma.
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Pandemic Relief Efforts
Webinarwith Joseph Stiglitz - 12pm EDT / 9am PDT
May 14, 2020
The COVID-19 pandemic has thrust us into a new reality, and any course we set now will have huge and lasting repercussions on public health and the economy.
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The Argentina Debt Reduction Proposal
Apr 28, 2020
A Template to Prevent a Global Debt Crisis?
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US Digital Response to the COVID Crisis
Webinarwith Tim O’Reilly& Jennifer Pahlka | 10am PT / 1pm ET
Apr 24, 2020
As the COVID crisis threatens to overwhelm both federal and state government services, getting the digital component of government services to function effectively is mission critical.
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The Political Economy of the French Pension System Reform(s)
Apr 22, 2020
Just before the crisis, European countries were designing austerity reforms that would increase inequality and reduce internal demand. Could they return?
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Why We Need Solidarity Economics
Apr 22, 2020
Economists have gone to great lengths to write humans out of economics, pushing self-interest and generally providing two choices—faith in markets or the state.
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Europe and the Need for Multilateralism
Apr 14, 2020
A call to action for a world economy in crisis
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Fatal Combination: Bailouts and Bank Rescues in Money-Driven Political Systems
Apr 13, 2020
Financial industry donations to members of Congress lead to the adoption of pro-bank policies
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Working Paper Series
How Much Can the U.S. Congress Resist Political Money? A Quantitative Assessment
Apr 2020
The links between campaign contributions from the financial sector and switches to a pro-bank vote were direct and substantial
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Research & Policy Workshops
IMPORTANT: Due to growing concerns around the coronavirus, the INET Conference, as well as these workshops will be postponed.
YSI
WorkshopApr 13–15, 2020
IMPORTANT: Due to growing concerns around the coronavirus, the INET Conference, as well as these workshops will be postponed. Applicants will soon be provided further information.
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CARES Will Care for Wall Street and Big Business, for Macroeconomic Balance Maybe Not So Much
Apr 6, 2020
Much historical commentary emphasizes how pandemics restructure long-standing social and political arrangements. The observation applies to macroeconomics as well.
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The EU’s Green Deal: Bismarck’s ‘What Is Possible’ versus Thunberg’s ‘What Is Imperative’ in the Age of Covid-19
Apr 1, 2020
What ails the EU Green Deal is exactly what troubles the Union in general — an absence of social democracy at work
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The COVID-19 Recession: Unprecedented Collapse and the Need for Macro Policy
Mar 26, 2020
Effective and quick federal policy response is critical to create conditions for a quick recovery.
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4 Ways to Eradicate the Corporate Disease That is Worsening the Covid-19 Pandemic
Mar 23, 2020
It’s time for business executives, employees, and taxpayers to come together to help get us out of the pandemic and create conditions for a sustainable and equitable future
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Rule Number 1 for Government Bailouts of Companies: Make Sure Voters and Taxpayers Share in the Upside
Mar 23, 2020
If the public is to be called upon for the second time in twelve years to bail out businesses, it should get something back for its money. Bailed out firms should be compelled to issue convertible bonds to the government.
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Report
Taxpayer Investment Leads New Drug Discoveries
Mar 2020
New research points to critical role of public funding in drug discoveries and development for the last decade
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Dakar Dialogue Brings Politics Back into Economic Thinking
Mar 2, 2020
A report from the Commission on Global Economic Transformation’s meeting in West Africa
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The New Hampshire Democratic Primary in One Graph
Feb 12, 2020
Lower Income Towns in New Hampshire Voted Heavily for Sanders; Richer Towns Did the Opposite.
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Free Market or Socialism: Have Economists Really Anything to Say?
Jan 14, 2020
On the Modern Economic Theory of Incentives, Markets, and Socialism
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Conservative Win in Britain Means More Than Economic Trouble Ahead
Jan 13, 2020
In an economic context that remains uncertain, the biggest loser of the UK elections may well be our health and that of the environment.
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The 2020 Election in Three Graphs
Jan 10, 2020
The Irresistible Force Meets the Immovable Object?
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Brexit and the UK election: Experts, Uncertainty, and Political Economy
Dec 19, 2019
One thing is clear – the ‘get Brexit done’ slogan resonated in a country which had been living on a series of knife edges as one ‘crunch’ time after another came and went.
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The Global Impact of Brexit Uncertainty
Dec 15, 2019
Brexit uncertainty has already taken an economic toll
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Working Paper Series
The Global Impact of Brexit Uncertainty
Dec 2019
Using tools from computational linguistics, we construct new measures of the impact of Brexit on listed firms in the United States and around the world
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The Challenges to Portugal’s EU Presidency
Dec 13, 2019
Many of the challenges facing the new EU Presidency will need to be addressed not only at the European level but within a reinvigorated multilateral framework.
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Global Commission Brainstorms on Africa’s Economic Transformation Ahead of WEF Africa
Sep 9, 2019
An update from the meeting of the Commission on Global Economic Transformation (CGET) in Cape Town
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How Liberals Normalized Conservative Ideas
Aug 28, 2019
The New York Times’ Binyamin Appelbaum explains the role Democratic presidents, from Kennedy to Obama, in moving economic policy to the right
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A Plan for Earth’s Survival that Can Survive U.S. Politics?
Jul 30, 2019
Economist James K. Boyce explains how to fight climate change and rising income inequality in one shot
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Antitrust and the Consumer Welfare Standard
Jul 16, 2019
The Chicago School has long used bankrupt assumptions to strangle antitrust policy
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Working Paper Series
American Gothic: How Chicago Economics Distorts “Consumer Welfare” in Antitrust
Jul 2019
The Chicago School has long used bankrupt assumptions to strangle antitrust policy.
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Firm-Level Political Risk: Measurement and Effects
Jul 11, 2019
Political risk—and what firms do about it
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Working Paper Series
Firm-Level Political Risk: Measurement and Effects
Jul 2019
We adapt simple tools from computational linguistics to construct a new measure of political risk faced by individual US firms: the share of their quarterly earnings conference calls that they devote to political risks.
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State Capacity and Demand for Identity: Evidence from Political Instability in Mali
Jun 26, 2019
Frequent civil conflicts in African countries may erode national identity, thus highlighting a reason why civil conflict is costly for growth and development
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Working Paper Series
State Capacity and Demand for Identity: Evidence from Political Instability in Mali
Jun 2019
Frequent civil conflicts in African countries may erode national identity, thus highlighting a reason why civil conflict is costly for growth and development
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Non-bank lending and the credit cycle: what are the risks?
Jun 21, 2019 |
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Outlook Session: How much debt is too much?
Jun 21, 2019 |
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The Right to Energy & Carbon Tax: A Game Changer in India
Jun 10, 2019
How free electricity could fight climate change and inequality
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INET at the Trento Economics Festival
May 30, 2019
A collection of our research on populism, globalization and nationalism
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Socialism in Our Time?
May 21, 2019
One of America’s leading socialists discusses how a collectively owned economy would be structured, the limits of the welfare state, and what Keynes understood that Marx didn’t
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Antitrust in American History: Law, Institutions, and Economic Performance
May 2, 2019
The Chicago School’s weakening of antitrust law hurt the economy
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Working Paper Series
Antitrust and Economic History: The Historic Failure of the Chicago School of Antitrust
May 2019
This paper presents an historical analysis of the antitrust laws.
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Macroeconomic Stimulus à la MMT
Apr 30, 2019
Modern Monetary Theory is problematic. Launching large scale fiscal programs that rely on it would be skating on thin ice.
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The Antitrust Case Against Facebook You Need to Know About
Apr 22, 2019
“Facebook is undermining our country, our democracy.”
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U.S. Borrowers Still Pay More Than What’s Fair
Apr 19, 2019
Low interest rate policy can only do so much to bring the relief to American borrowers that they deserve: past monetary policies, credit market regulations and stagnant labor productivity growth all get in the way. Interest rate policy activism is part of the problem, not the solution.
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Can Antitrust Law Rein in Facebook’s Data-Mining Profit Machine?
Apr 17, 2019
Facebook engaged in an elaborate bait and switch on user data: Privacy disappeared when competition did. Laws governing competition could change that.
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INET to G20: Bank Regulation Can't Be Heads Banks Win, Tails Taxpayers Lose
Mar 28, 2019
At a G20 preparatory meeting in Berlin, an INET panel analyzed how governments can prevent banks from exploiting taxpayer-funded bailout guarantees
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Rebuilding Kerala Economy: Time for a Paradigm Shift?
ConferenceMar 22–23, 2019
Part of INET and the Centre for Public Policy Research (CPPR) roundtable series, “Vikàsàrth: Development and the Economy.”
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Is MMT “America First” Economics?
Mar 20, 2019
Modern monetary theorists ignore how their policies could hurt developing countries
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Populism, Trump, and the Future of Democracy
Mar 15, 2019
The most popular political philosopher of his generation on liberal responsibility worldwide for the rise of the hard right
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Do Real Estate Markets Make Our Cities Less Livable?
Mar 4, 2019
Author Samuel Stein talks about how capitalism shapes housing and what economists have in common with city planners
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The Black Woman Economist Who Pioneered a Federal Jobs Guarantee
Feb 22, 2019
Decades before it caught on with other economists, Sadie Alexander was the first economist to recommend a government jobs guarantee in the US
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Science and Subterfuge in Economics
Feb 17, 2019
John Kenneth Galbraith noted in 1973 that establishment economics had become the “invaluable ally of those whose exercise of power depends on an acquiescent public.” If anything, economists’ embrace of that role has grown stronger since then.
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Working Paper Series
The Contributions of Socioeconomic and Opioid Supply Factors to Geographic Variation in U.S. Drug Mortality Rates
Feb 2019
Economic distress in rural areas and opioid exposure in cities are key indicators of overdose deaths
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The Bogus Paper that Gutted Workers’ Rights
Feb 6, 2019
For years, governments in India and much of the developing world have followed the advice of a paper arguing that labor regulations actually hurt workers. The problem? The research was wrong.
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Working Paper Series
Labor Laws and Manufacturing Performance in India: How Priors Trump Evidence and Progress Gets Stalled
Feb 2019
For years, governments in India and much of the developing world have followed the advice of a paper arguing that labor regulations actually hurt workers. The problem? The research was wrong.
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Working Paper Series
Estimates of the Natural Rate of Interest and the Stance of Monetary Policies: A Critical Assessment
Jan 2019
Starting with the literature on the estimates of the natural rate of interest, this paper critically analyzes the modern practice of identifying the benchmark rate of monetary policy with an equilibrium or neutral interest rate reflecting “fundamental forces” unaffected by monetary factors.
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Commission on Global Economic Transformation
Chaired by Nobel laureates Joseph Stiglitz and Michael Spence, INET has assembled a global team of leaders and scholars calling for new thinking & new rules for the world economy
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YSI Info Session & Panel Discussion:
Political Economy and New Economic Thinking
YSI
DiscussionDec 13, 2018
Learn about the Young Scholars Initiative (YSI) at the Institute for New Economic Thinking, and join a panel discussion on Political Economy and New Economic Thinking with Thomas Ferguson, Perry Mehrling, and Katharina Pistor.
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Artha Vivaad: Innovation Economy and the State
DiscussionDec 10, 2018
A panel discussion on the importance of the role of the state alongside private enterprise to encourage innovative entrepreneurship, productivity and economic growth in an “Innovation Economy.”
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3rd Law Economics Policy Conference, 2018
ConferenceNov 26–28, 2018
Organized by the National Institute of Public Finance and Policy (NIPFP), New Delhi in collaboration with the Institute of New Economic Thinking, New York, the aim of the Law Economics Policy Conference series is to bring together legal, economic, and public policy thinkers to consider a variety of real world issues in India in a holistic manner.
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To Be a Good Citizen, You Need Not Be Rich
Nov 23, 2018
LSE Director Minouche Shafik says that for democracy to work, we must keep the market out of certain domains
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Inclusive or Exclusive Global Development?
Scrutinizing Financial Inclusion
YSI
WorkshopNov 21, 2018
Microfinance and then financial inclusion have become buzzwords in international development. Such initiatives have mobilised and generated large amounts of development funding, despite substantial amount of critique. Such critiques call for a more impartial assessment of the effectiveness of financial inclusion on the grounds that funds for microfinance, they argue, displaced development spendings on healthcare, education or infrastructure. In addition, the focus on expansion of financial markets to ‘bank’ and financially ‘include’ the poor may divert attention from more comprehensive and effective poverty reduction strategies. Critiques of this ‘way of doing development’ are often sidelined and labelled as ‘extreme’, ‘sloppy’ or ideology-driven rather than evidence-based. We believe that there is a need for contemporary development scholars from all disciplines to engage in those debates. This half-day workshop would bring in such scholars to discuss what we have learned from a decade of research on the microfinance, and how financial inclusion and the emergence of fintech may offer new opportunities - as well as risks - in for inclusive global development.
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U.N. Secretary-General Meets with INET Global Commissioners
Nov 12, 2018
António Guterres and CGET Commissioners discuss cooperating on inequality, climate change, multilateralism, and more
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Money Matters
Nov 7, 2018
Neoclassical economics dismisses the role of money and the state in the economy. Keynes scholar Robert Skidlesky says it’s time for a re-evaluation.
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Cheap Talk on Race and Xenophobia Keeps Americans from Confronting Economic and Political Peril
Nov 2, 2018
Adolph Reed, who researches race and politics, warns that “identitarian” politics can conceal the structural inequities of capitalism
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The Rise of Fake News
Nov 2, 2018
Right-wing news sources have stopped playing by the rules of journalism