In Part 4 of this interview From the Director's Chair, INET Executive Director Robert Johnson talks with Jeffrey Sachs about the effectiveness of Keynesian stimulus.



Sachs isn't convinced. "The idea of stable, reliable...

Nicholas Wapshott suggests that modern economists would do well to remember the work of Keynes now, as they have strayed too far from the lessons of Keynes in pursuit of ever more refined modeling technique. In the same vein, modern...

Neoliberalism, warns Professor Wendy Brown, has created a form of reasoning in which human beings are reduced to their economic value and activity, and in which all fields of human activity are treated as markets and institutions,...

As a financial consultant, Satyajit Das told his clients: Let us know what you want to do and why you want to do it, and we can fit models and numbers around it. The models are not sacred. And investors had better pay attention to...

In part 4 of this INET interview, Sylvia Nasar discusses how Joseph Schumpeter and Friedrich von Hayek challenged the economics of Keynes in the early-to-mid 20th century. However, their work fell in the face of empirical evidence,...

The media has failed ask basic questions about the economic thinking — and business record — of Republican presidential nominee Donald Trump, says Pulitzer-prize-winning journalist David Cay Johnston, author of The Making of Donald...

INET interview with Erik Berglof, Part 2 of 4

With mathematical finance it became possible to put a number on risk. While the quantification of risk makes life comfortable for everybody, it also compels us to stop thinking, Das warns in Part 4 of this INET interview.

In part 3 of this INET interview, Sylvia Nasar discusses the work of Keynes and Irving Fisher and how they changed the field of economics in the early 20th century. Their ideas on monetary economics introduced the idea that the economy...

Nobel Laureate Michael Spence favors a consumption tax: a big chunk of government revenues should come from taxes on value added and consumption. Besides a sensible energy policy, Spence's agenda reads jobs, jobs, and jobs. The tradable...

We are reaching the end of the cycle of financialization as a growth machine. In addition, the speculation that drives food prices ultimately may lead to social unrest and the rise of political extremism, Das says in Part 5 of this INET...

While manufacturing employment was crumbling in the United States, Germany gained shares in world markets: exports boomed, and the tradable goods sector remained an employment engine. That is why Michael Spence looks to Germany, as a...

In part 2 of this four-part INET "From the Director's Chair" interview, INET Executive Director Robert Johnson talks with Greek economist Yanis Varoufakis about Varoufakis's new book The Global Minotaur: America, The True Origins of...

INET interview with Erik Berglöf, part 3 of 4<br/>

Satyajit Das witnessed first-hand the transformation of the financial industry's reward system, how bonuses replaced the "golden handshake" of private partnerships. Das also saw how in the financial business deviating from the norm is...

Robert Johnson, Director of the Institute for New Economic Thinking, interviews Gordon Brown, former British Prime Minister, at INET's Bretton Woods Conference on April 9, 2011.<br/>

INET interview with Erik Berglof, part 4 of 4<br/>

David Tuckett suggests markets cannot be driven by fundamentals -- the future is uncertain -- instead, they are driven by stories about fundamentals. Stories change much quicker than fundamentals do, and it is the fluctuations in the...

David Tuckett offers insights into how societies can deal with the aftermath of financial crises. He suggests that part of what's needed is greater understanding on the part of the public. For this to happen, economics needs to...

In part two of this INET interview, John Kay discusses the inflexibility of current economic theory and how this has lead limited the economics profession. By insisting on certain simplifying assumptions to maintain the pretense of being...

In part 5 of this INET interview, John Kay discusses economists' quality of perception. The question is: Should economists be statesmen? Maybe, but they still have much to learn from other professions about how the world works.<br/>

David Tuckett explores how stories affect when the market changes after bubbles pop. He notes that markets often continue to go up after crises begin, supporting the notion that it's stories, and not simple statistics, that drive...

In part 4 of this INET interview, Steve Keen tells us why he prefers to speak of the credit accelerator, rather than the credit impulse. "An impulse implies it comes and it goes; acceleration is always with you."Keen also talks about how...

India and China are set to converge to lifestyles and consumption levels similar to those enjoyed by the industrialized countries. The rise of these new economic giants puts enormous strain on the earth's biosphere. At the same time,...