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BlogNeoliberalism in a Time of Crisis
“Crises are an inherent feature of capitalism. Marx knew this only too well; so did Keynes and Minsky. Neoliberals, on the other hand, tend to believe that it is government action that causes market turbulence and economic instability.” This is the opening salvo from a new one-pager by C. J. Polychroniou that takes on neoliberal [...] -
Blog
The European Troika’s Rescue Plan Will Fail
(cross posted from EconoMonitor) Yet another rescue plan for the EMU is making its way through central Europe—raising the total funding available to the equivalent of $600 billion. Germany agreed to raise its contribution to the fund by more than $100 billion equivalent. However, Slovakia has vetoed the rescue and all eyes are now turned [...] -
Working Paper No. 692Quality of Match for Statistical Matches Used in the Development of the Levy Institute Measure of Time and Income Poverty (LIMTIP) for Argentina, Chile, and Mexico
The quality of match of three statistical matches used in the LIMTIP estimates for Argentina, Chile, and Mexico is described. The first match combines the 2005 Uso del Tiempo (UT 2005) with the 2006 Encuesto Annual de Hogares (EAH) for Argentina. The second match combines the 2007 Encuesta Experimental sobre Uso del Tiempo en el […] -
Working Paper No. 691
Unpaid and Paid Care
Transforming care for children and the elderly from a private to a public domain engenders a series of benefits to the economy that improve our standard of living. We assess the positive impacts of social care from both receivers’ and providers’ points of view. The benefits to care receivers are various, ranging from private, higher […] -
Looking Overseas for Job-creation Inspiration
National Journal, October 11, 2011. Copyright © 2011 by National Journal Group Inc. The U.S. job market has shown lackluster growth recently, to put it mildly. The September employment report, released on Friday, revealed that nonfarm payrolls added just 103,000 jobs last month—not horrific, but still under the threshold economists say they need to cross […] -
One-Pager No. 14Neoliberalism and the State of the Advanced World Economy
Whoever said that economic science is free of ideological bias and political prejudice? Three hundred years of financial and economic crises have meant nothing to die-hard neoliberals, who believe in (among other things) self-regulating markets and trickle-down theory. With so many incorrect assumptions guiding market liberalism, it’s no wonder neoliberals have failed to draw the […] -
One-Pager No. 14
Νεοφιλελευθερισμός και η κατάσταση της προηγμένης παγκόσμιας οικονομίας
Ποιος είπε ότι η οικονομική επιστήμη δεν είναι ιδεολογικά προκατειλημμένη και δεν πάσχει από πολιτική μεροληψία; Τριακόσια χρόνια χρηματοπιστωτικων και οικονομικών κρίσεων δε λένε απολύτως τίποτα στους αδιάλλακτους νεοφιλελεύθερους, που πιστεύουν (ανάμεσα σε άλλα πράγματα) στην ιδέα της ύπαρξης μιας αυτορρυθμιζόμενης αγοράς και στη θεωρία της προς τα κάτω διαρροής του πλούτου. Mε τόσες πολλές […] -
Blog
Study Abroad: Unemployment and Retraining
The National Journal asks whether we can learn something about addressing unemployment by studying elements of the unemployment insurance systems of other OECD nations, many of which make re-training a key part of transitioning from UI back to employment. The American Jobs Act (dead man walking) contains a “bridge to work” provision that would include [...] -
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More on the Nobel Prize award and its possible meanings
Without wading into the debate too much, we report on some commentary from the web on yesterday’s announcement that Thomas Sargent and Christopher Sims had won the Nobel Memorial Prize in Economics: “Free-market” supporters differed greatly in their assessments. One “New Monetarist” argues that the choice of Sargent and Sims represents a nod to the [...] -
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Man Cannot Live by Fed Alone
Over the past several decades, many people adopted the view that monetary policy, almost alone, could effectively control the economy. Economists, politicians and scholars came to believe that the Federal Reserve was full of neutral technocrats who dutifully fine-tuned the economy. Through their careful orchestration of interest rates, the money supply and inflation, we assumed [...] -
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This morning’s announcement and our Institute
This morning, it was announced that Thomas Sargent and Christopher Sims are the winners of the 2011 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (link to New York Times article here; link to official Nobel economics site here). Sargent and Sims’s approach is often thought to imply, among other things, [...] -
Blog
How to Improve Your Abstract
Since it’s Friday… This one is for every graduate student who’s been on the receiving end of a glazed/skeptical/bemused expression after trying to respond to a “so what’s your dissertation about?” query. Your elevator pitch would go over much better if it were more kinetic. Via GonzoLabs, Science magazine and TEDxBrussels are sponsoring a competition [...]