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EventSide Event at UN Women 2025 ECOSOC Forum on Financing for Development & FfD4 Conference
The Levy Economics Institute is proud to co-sponsor the side event, “Engendering Fiscal Space: The Role of Macro-Level Economic Policies, External Debt, Concessional Finance, Special Drawing Rights, and Economic Modelling,” during the 2025 ECOSOC Forum on Financing for Development & 4th PrepCom for the Fourth Financing for Development Conference). Join April 30–May 1, 2025, at […] -
Policy NotesRemembering Pope Francis’s Call for a Universal Basic Wage
On April 21, 2025, a day after Easter Sunday, the world mourned the passing of His Holiness Pope Francis. Five years earlier, on Easter Sunday, April 12, 2020—amid the devastating COVID-19 pandemic—he issued a powerful plea for economic justice, urging leaders to address the deepening crisis of insecurity faced by workers. His call for a universal […] -
Working Paper No. 1081The Rise and Rise of Feminist Macroeconomics: Who’s Recognizing?
Macroeconomics is arguably the most male-dominated field within the discipline of economics. Since the mid-1990s, feminist economists have thoroughly and meticulously challenged this field through empirical and theoretical analyses and proposed alternative starting points, frameworks, and models. We evaluate the contributions of five scholars—Nilüfer Çağatay, Diane Elson, Caren Grown, Stephanie Seguino, and Elissa Braunstein—who have […] -
Policy NotesTrump’s Tariffs: Ending Globalization
The Trump administration is reintroducing a number of 40-year-old, Reagan-era economic and military policies, but is particularly preoccupied with the imposition of tariffs for all of the country’s imports. Trump, in his inaugural address, placed significant emphasis on what the imposition of tariffs would represent, in his view: “Instead of taxing our citizens to enrich […] -
Levy Scholar Ajit Zacharias Appointed to National Academies Committee on Measuring the Care Economy
Senior Scholar Ajit Zacharias has been appointed to serve on the Committee on A Data Infrastructure for Measuring the Care Economy with The National Academies of Science, Engineering, and Medicine. This panel, created to assess the current data available on the care economy, will provide conclusion and recommendations on the potential for improving, expanding, and integrating […] -
Levy Scholar James K. Galbraith for Bloomberg: “Why Economists Are Looking at Economics All Wrong”
Senior Scholar James K. Galbraith appeared on the Bloomberg podcast Merryn Talks Money to discuss his new book Entropy Economics. This interview was recorded before the market chaos of the last week. There’s a problem with economists, says James K. Galbraith. It is that almost all of them are working with the wrong models. They look at it in […] -
The Levy Institute Welcomes Three New Members to Our Board of Advisors
The Levy Institute is proud to welcome three new members to our Board of Advisors. Rebeca Grynspan, Secretary-General, UN Trade and Development (UNCTAD) Robert Skidelsky, Emeritus Professor of Political Economy, University of Warwick & Member of the British House of Lords and Mariana Mazzucato, Professor, Economics of Innovation and Public Value, University College London […] -
Working Paper No. 1080
Protecting Social Security: The Case Against Extending the Full Retirement Age
The Social Security “full retirement age” (FRA) is the age at which retirement income benefits are available without reduction for early commencement. Presently, that age is 67 for those born in 1960 or later. This paper is about the unfair and unnecessary threat to reduce Social Security retirement income benefits (Romig 2023) by extending the […] -
Working Paper No. 1079
Job Allocation in the Levy Institute Microsimulation Model
The Levy Institute Microsimulation Model (LIMM) is a tool used for policy simulations to estimate ex-ante the employment and income effects of sectoral investments. In Istenes (2023), a simple implementation of the LIMM for New York State initially had difficulty producing realistic conditional distributions of allocated jobs. This paper identifies the sources of that problem, […] -
Galbraith for The Nation: “Trump’s Economics—and America’s Economy”
You can’t make America great again by wrecking the government. “What to make of the blur of news, revolutionary rhetoric, panicky fundraising texts, economic indicators, the plunging stock market, and, of course, President Trump’s address to a joint session of Congress on March 4, 2025? Are we on the brink of a socioeconomic Armageddon? Or […] -
BlogThe Levy Institute and the Future of Economics
According to my vita, my first paper for the Levy Economics Institute, “Unemployment, Inflation, and the Job Structure,” was first published almost exactly thirty years ago, in May 1995.[1] It was a categorical dissent from the micro-market framework, dominant then and still, of mainstream economics. The abstract reads: In this working paper, James K. Galbraith [...] -
BlogUnmasking Hidden Poverty in America: The Role of Time Deficits
What if Household Production is recognized as a necessity? Imagine if unpaid work done at home—cooking, cleaning, childcare, eldercare[1]—were recognized as part of basic needs as, for example, a minimal quantity of food and clothing? Would it change how much poverty we find? An upcoming study by the Levy Economics Institute suggests it absolutely would. [...]