Articles
Articles and analyses from the INET community on the key economic questions of our time.
Grexit: The Staggering Cost Of Central Bank Dependence
The ECB has decided to maintain its current level of emergency liquidity to Greece (ECB 2015). By refusing to extend additional emergency liquidity, the ECB has decided that Greece must leave the Eurozone. This may be a legal necessity or a political judgement call, or both. Anyway, it raises a host of unpleasant questions about the treatment of a member country and about the independence of the central bank.
The rise of financialization has led to lower living standards and reduced growth in the U.S.
The last 30 years has seen a massive rise in the importance of financial instruments in the American economy. But what has been the impact of this shift in corporate investment strategy?
Thoughts On Skidelsky's Rant Against The Current Economics Curriculum
The extremely wise Robert Skidelsky has an excellent rant against Anglo-Saxon economics departments
History as Personal Expression — a personal note
Economists and historians of economics have constructed different (and sometimes conflicting) narratives about the past of their field. In fact what is history for economists may not be what is history for historians. To celebrate its 125th anniversary, the Economic Journal invited renowned economists to discuss important contributions published in the past by the journal and the works on similar topics by historians of economics are absent from these accounts. History of economics here seems to have the weight of a JEL descriptor attached to an invited contribution, which we ought to agree that it is not much.
Marxian Economics: The Oldest Systems Theory Is New Again (or Always?)
The best new economic thinking in an age of the dominance of rent-seeking will be Marxian economic thinking
Learning from Karl Polanyi
The old political-economic thinking of Karl Polanyi was never properly absorbed into “mainstream” North Atlantic economics: recognizing that land, labor, and finance are not really “commodities” returns institutions and social processes to the center of economic analysis.
Can Democracy Survive Aggressive Global Capitalism?
Rana Dasgupta shares his view of the contradictions and tensions of India’s economic and political scenes.