Articles

Book Launch: Macroeconomic Inequality from Reagan to Trump

Article By Lance Taylor and Özlem Ömer

This first book in the new INET and Cambridge University Press book series, Studies in New Economic Thinking, shows that wage repression—far more than monopoly power, offshoring, or technological change—has driven rising inequality.

America’s Dire Inequality Demands a New Conceptual Framework. This Economist Has One.

Article By Lynn Parramore

In a new book from Cambridge University Press, Lance Taylor reveals that wage repression — far more than monopoly power, offshoring or technological change — is driving rising inequality.

What Happens When a Noted Female Economist Fights Toxic Culture in the Field?

Article By Lynn Parramore

Claudia Sahm dares to call out systemic bullying and harassment that drives out talent and compromises science. Perpetrators are not happy.

It’s Time for a Debt “Jubilee”

Article By Richard Vague

Why freeing American households and businesses from crippling private debt would be a boon to the economy. Article reposted from DemocracyJournal.org.

Summary of the Book Macroeconomic Inequality From Reagan to Trump

Article By Lance Taylor

Wage Repression, Asset Price Inflation, and Structural Change Caused Rising Macroeconomic Inequality for Fifty Years from before Reagan through Trump.This is a summary of a new book that is being published as part of a new book series with Cambridge University Press.

Professor Kako Nubukpo: COVID-19 Shows that Global Value Chains Shouldn’t Keep Africa in Chains of Dependence

Article By Folashadé Soulé and Camilla Toulmin

During this interview, Professor Kako Nubukpo, Dean of the Faculty of Economics at the University of Lomé, Togo and former Minister of Prospective and Evaluation of Public Policy of Togo considers the economic and social impact of the COVID-19 crisis and its repercussions on monetary policy and fiscal reforms underway in West and Central Africa today.

The COVID-19 Economic Crisis

Collection

Find all of our COVID-19 pandemic articles, webinars, and working papers here.

Race and Economics From INET

Collection

A collection of INET’s research and articles on race and the US economy, reposted in connection with recent protests against police brutality in Black communities.

How Dairy Monopolies Keep Milk Off the Shelves

Article By Eileen Appelbaum and Jared Gaby-Biegle

Consolidation in the dairy industry has created separate, inflexible supply chains for consumers and commercial markets. When COVID killed commercial demand, perfectly good milk and cheese was wasted.

“Savings Glut” Fables and International Trade Theory: An Autopsy

Article By Lance Taylor

A “global saving glut” was invented by Ben Bernanke in 2005 as a label for positive net lending (imports exceeding exports) to the American economy by the rest of the world. However, there is a more plausible explanation for the persistent trade imbalance between the US and its major trading partners.

Updated: Andrew Smithers' Challenge to Lance Taylor's Global Savings Glut Paper

Collection

A debate between Lance Taylor and Andrew Smithers on the alleged “global savings glut.” Smithers responds to Taylor’s INET working paper, to which Taylor then offers a rebuttal. A second round of the debate is now included as well.

Why Do Economists Have Trouble Understanding Racialized Inequalities?

Article By Ingrid Harvold Kvangraven and Surbhi Kesar

Mainstream economics ignores historical and structural factors by design

Why International Financial Regulation Still Falls Short

Article By William White

Despite post-2008 regulations, the boom-bust credit cycle continues to run wild

More articles

INET Video

Globalization's Discontents

Video Featuring Joe Stiglitz

The promise of globalization is built on a lie, designed to spread risk while concentrating reward.

College Now

Video Featuring David Deming

Why are we creating an education shortage?

Students Fear Ideas Not Viruses

Video Featuring Jonathan Haidt and Rob Johnson

“Good intentions and bad ideas are setting up a generation for failure.”

The Future of the Safety Net

Video Featuring Karen Dynan

A lot has changed since our taxes and benefits were designed, and the consequences of delaying reform are rising.

Is History Important?

Video Featuring Robert Skidelsky

An animated look at economic history with Robert Skidelsky

Learn the Language of Power

Video Featuring Ha-Joon Chang

Economists make what we do seem complicated, says Ha-Joon Chang. It’s not.

Economics & Beyond Podcast

Video Featuring Rob Johnson

Rob Johnson is not your average economist, and this is not your average economics podcast.

The Dangerous Ideological Bias of Economists

Video Featuring Mohsen Javdani

“We do not publish papers about our own profession.” – Top Five Journal

What is Work?

Video Featuring Nancy Folbre

What counts as work and what doesn’t?

How America Turned Its Police Into an Army

Video Featuring Olugbenga Ajilore

Economist Olugbenga Ajilore shows the high cost of the American government’s arming of local police with military weapons, which has exacerbated lethal use of force against black communities

Has China Won?

Video Featuring Kishore Mahbubani and Rob Johnson

The geopolitical showdown between the United States and China is both inevitable, and avoidable.

How Populists Use Economics to Exploit Crisis

Video Featuring Emil Verner

MIT Sloan Assistant Professor Emil Verner discusses his research into credit markets, and the role of economics in the rise of populism.

Gender Equality Works for Everyone.

Video Featuring Elissa Braunstein

If a tree falls outside of the market sector, does it make a sound?

One Dollar. One Vote.

Video Featuring Emmanuel Saez

Economist Emmanuel Saez explains how inequality is destroying society.

Inequality 101

Video Featuring Branko Milanovic and Arjun Jayadev

Inequality, in many ways, may be the biggest question of our times. And yet it is a topic that is still underexplored in conventional economics curricula.

Economics for People

Video Featuring Ha-Joon Chang

Economics has long been the domain of the ivory tower, where specialized language and opaque theorems make it inaccessible to most people. That’s a problem.

More videos

Working Paper Series

Voting Rights, Deindustrialization, and Republican Ascendancy in the South

Paper By Gavin Wright

How NAFTA led to GOP dominance of the American South

Government as the First Investor in Biopharmaceutical Innovation: Evidence From New Drug Approvals 2010–2019

Paper By Ekaterina Cleary, Matthew Jackson, and Fred Ledley

Amid debates over costs—and profits—from a coronavirus vaccine, a new study shows that taxpayers have been footing the bill for every new drug approved between 2010 and 2019

Spilt Milk: COVID-19 and the Dangers of Dairy Industry Consolidation

Paper By Eileen Appelbaum and Jared Gaby-Biegle

Consolidation in the dairy industry has created separate, inflexible supply chains for consumers and commercial markets. When COVID killed commercial demand, perfectly good milk and cheese was wasted.

Germany and China Have Savings Gluts, the USA Is a Sump: So What?

Paper By Lance Taylor

An alternative look at the “global savings glut”

International Financial Regulation: Why It Still Falls Short

Paper By William White

Despite post-2008 regulations, the boom-bust credit cycle continues to run wild

How “Maximizing Shareholder Value” Minimized the Strategic National Stockpile: The $5.3 Trillion Question for Pandemic Preparedness Raised by the Ventilator Fiasco

Paper By William Lazonick and Matt Hopkins

The success of projects for pandemic preparedness and response depends on the strength of government-business collaborations.

Employment and Earnings of African Americans Fifty Years After: Progress?

Paper By Philip Moss, William Lazonick, and Joshua Weitz

To fulfill MLK’s vision of jobs and freedom for Black Americans, Washington must rein in corporate greed

Never Together: Black and White People in the Postwar Economic Era

Paper By Peter Temin

Over and over again, US government policies designed to transfer and create wealth and economic opportunity were restricted to whites by design.

The Geography of New Technologies

Paper By Nicholas Bloom, Tarek Alexander Hassan, Aakash Kalyani, Josh Lerner, and Ahmed Tahoun

Rising inequality has focused attention on the benefits of new technologies. Do these accrue primarily to inventors, early investors, and highly skilled users, or to society more widely as their adoption generates employment growth?

How the Disappearance of Unionized Jobs Obliterated an Emergent Black Middle Class

Paper By William Lazonick, Philip Moss, and Joshua Weitz

In this introduction to our project, “Fifty Years After: Black Employment in the United States Under the Equal Employment Opportunity Commission,” we outline the socioeconomic forces behind the promising rise and disastrous fall of an African American blue-collar middle class.

The Economics and Politics of Social Democracy: A Reconsideration

Paper By Servaas Storm

The popular discontent and rise of ‘populist’ political parties is closely related to the failure of New Labor to navigate social democracy’s dilemma.

Three Comments on Storm “The Economics and Politics of Social Democracy: A Reconsideration"

Paper By Joseph Halevi, Peter Kriesler, Duncan Foley, and Thomas Ferguson

This Working Paper presents three separate comments on Servaas Storm’s “The Economics and Politics of Social Democracy: A Reconsideration”. The first is by Joseph Halevi and Peter Kriesler; the second is by Duncan Foley; and the third is by Thomas Ferguson.

Modigliani Meets Minsky: Inequality, Debt, and Financial Fragility in America, 1950-2016

Paper By Alina Bartscher, Moritz Kuhn, Moritz Schularick, and Ulrike Steins

Increased borrowing by middle-class families with low income growth played a central role in rising indebtedness

How Market Sentiment Drives Forecasts of Stock Returns

Paper By Roman Frydman, Nicholas Mangee, and Josh Stillwagon

We reveal a novel channel through which market participants’ sentiment influences how they forecast stock returns: their optimism (pessimism) affects the weights they assign to fundamentals.

Payroll Share, Real Wage and Labor Productivity across US States

Paper By Ivan Mendieta-Muñoz, Codrina Rada, Ansel Schiavone, and Rudi von Arnim

This paper analyzes regional contributions to the US payroll share from 1977 to 2017 and the four major business cycles throughout this period.

More papers