Thumbnail for Going “Beyond Neoliberalism”

Going “Beyond Neoliberalism”

22 Mar 2019

The Boston Review posted a piece by a group of economists led by Suresh Naidu, Dani Rodrik, and Gabriel Zucman calling for economics to go “beyond neoliberalism” and outlined an agenda for reform.  INET Oxford&...

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Thumbnail for When does one of the central ideas in economics work?

When does one of the central ideas in economics work?

21 Feb 2019

The concept of equilibrium is one of the most central ideas in economics. It is one of the core assumptions in the vast majority of economic models, including models used by policymakers on issues ranging from monetary policy to climate change, trade policy and the minimum wage. But is it a good assumption? In a new Science Advances paper, Marco Pangallo, Torsten Heinrich and Doyne Farmer investigate this question in the simple framework of games, and show that when the game gets complicated this assumption is problematic. If...

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Thumbnail for The Value of Everything - Lecture by Mariana Mazzucato

The Value of Everything - Lecture by Mariana Mazzucato

04 Feb 2019

Image credit: Bright Lens Mariana Mazzucato, Professor in the Economics of Innovation and Public Value at University College London, and author of The Entrepreneurial State: Debunking Public vs. Private Sector Myths and The Value of Everything: making and taking in the global economy, took on the wintery weather at the end of January and gave a lecture at the Blavatnik School of Government. This was a joint event with INET Oxford and the Oxford Martin School. This talk argued that modern economic...

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Thumbnail for Ten years After the Financial Crisis:  “We Are Safer, But Not As Safe As We Should and Could Be”

Ten years After the Financial Crisis: “We Are Safer, But Not As Safe As We Should and Could Be”

22 Nov 2018

Experts from academia and industry gathered at the University of Oxford revisited what went wrong in the run-up to the 2008 financial crisis, whether the actions that were taken since then seem sufficient, and the risks that might forestall a new crisis. The bankruptcy of Lehman Brothers, now ten years ago, was neither the start nor the peak of the financial crisis. Yet, the demise of the iconic investment bank, the fourth-largest in the United States, marked the point at which the unthinkable became real: A landmark institution...

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Thumbnail for Generating Prosperity for Working Families in Affluent Countries: New book and conference from Employment, Equity & Growth Programme

Generating Prosperity for Working Families in Affluent Countries: New book and conference from Employment, Equity & Growth Programme

13 Nov 2018

Rising inequality has become such a widespread concern in rich countries primarily because it is seen to be associated with long-term stagnation in living standards for ordinary working households, compounded by the Great Recession. This book presents the findings of a comprehensive analysis of performance in improving ordinary living standards over recent decades across the wealthy nations of the OECD. It relates the wide variation in this performance to overall economic growth, exploring why these often diverge substantially and ...

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Thumbnail for Mobile Money and the Economy: A Review of the Evidence

Mobile Money and the Economy: A Review of the Evidence

30 Oct 2018

Mobile money is a recent innovation that provides financial transaction services via mobile phone, including to the unbanked global poor. The technology has spread rapidly in the developing world, “leapfrogging” the provision of formal banking services by solving the problems of weak institutional infrastructure and the cost structure of conventional banking. This new article by Dr Janine Aron examines the evolution of mobile money and its important role in widening financial inclusion. It explores the channels of econo...

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Thumbnail for How useful and reliable is a simplified perspective on Technological Change?

How useful and reliable is a simplified perspective on Technological Change?

29 Oct 2018

Technological change involves many economic, social and individual human factors that are interwoven in a complex pattern; thus, technological change serves as an exemplar for a complex socio-technical system. Moreover, some individual factors central to technological change are challenging areas with more unknown than understood: among these areas are individual creative invention, scientific interplay with technology, new business formation, human/product interactions and others. In this lecture, technological change and socio-te...

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Thumbnail for Marco Pangallo wins one of the James S. Mc Donnell foundation postdoctoral fellowships

Marco Pangallo wins one of the James S. Mc Donnell foundation postdoctoral fellowships

29 Oct 2018

INET DPhil student Marco Pangallo was recently awarded one of the 2018 postdoctoral fellowships in “Understanding dynamic and multi-scale systems”. These fellowships are awarded by the James S. Mc Donnell foundation, founded by aerospace pioneer James S. McDonnell to improve the quality of life through its support of research and scholarship. These postdoctoral fellowships support research directed toward the science of complex, adaptive, nonlinear systems. The fellowships fund a 2-3 year postdoc to work on a to...

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Thumbnail for Carbon dividend from polluters to households could win over the public

Carbon dividend from polluters to households could win over the public

31 Jul 2018

Political acceptability is the biggest challenge for the introduction of ambitious carbon pricing schemes aimed at cutting greenhouse gas emissions. But using the revenue to pay a dividend to households could make carbon pricing a success, new research from The Institute for New Economic Thinking at the Oxford Martin School has found. Findings from a new study on carbon pricing, published today (30 July) in Nature Climate Change, suggest policymakers need to prioritise benefits to the public over traditional economic concer...

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Thumbnail for Collective Awareness - A conversation with Prof Farmer

Collective Awareness - A conversation with Prof Farmer

20 Jul 2018

INET Oxford's Complexity Economics Programme Director has been in conversation with edge.org on the subject of Collective Awareness.  Edge.org was launched in 1996 as the online version of "The Reality Club". The Reality Club was an informal gathering of intellectuals who met from 1981 to 1996 to present their work with the understanding that they will be challenged. The motto of the Club was inspired by the late artist-philosopher James Lee Byars: "To arrive at the edge of t...

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Thumbnail for INET Oxford at the Sea Level Futures Conference

INET Oxford at the Sea Level Futures Conference

09 Jul 2018

Luke Jackson attended the Sea-Level futures conference in Liverpool, an international meeting of around 70 sea-level scientists, and presented current research with Felix Pretis, Andrew Martinez and Katarina Juselius (University of Copenhagen) using econometrics to explore the impact of ice sheet interactions upon projections of future sea-level change. Over the two days, the group listened to talk and poster presentations on all aspects of sea-level change. Two particular themes stood out - closure of the global sea-level budget o...

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Thumbnail for Inequality and Ordinary Living Standards in Rich Countries: Shared Challenges and Contrasting Fortunes

Inequality and Ordinary Living Standards in Rich Countries: Shared Challenges and Contrasting Fortunes

03 Jul 2018

This new book published by Oxford University Press, edited by Brian Nolan and written with twenty collaborators, analyses what has been happening to inequality and ordinary living standards in ten affluent OECD countries in recent decades. This is motivated by the widely-shared concern that rising inequality and stagnating incomes threaten economic performance, social solidarity and political stability. The most striking feature it identifies is just how varied the experiences of these countries have been. The US, with a particular...

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