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Public Policy Brief No. 139Emerging Market Economies and the Reform of the International Financial Architecture
Emerging market economies are taking an ill-targeted and far too limited approach to addressing their ongoing problems with the international financial system, according to Senior Scholar Jan Kregel. In this policy brief, he explains why only a wholesale reform of the international financial architecture can adequately address these countries’ concerns. As a blueprint for reform, […] -
Working Paper No. 833Emerging Markets and the International Financial Architecture
If emerging markets are to achieve their objective of joining the ranks of industrialized, developed countries, they must use their economic and political influence to support radical change in the international financial system. This working paper recommends John Maynard Keynes’s “clearing union” as a blueprint for reform of the international financial architecture that could address […] -
Working Paper No. 832
The Rise of Money and Class Society
This paper explores the rise of money and class society in ancient Greece, drawing historical and theoretical parallels to the case of ancient Egypt. In doing so, the paper examines the historical applicability of the chartalist and metallist theories of money. It will be shown that the origins and the evolution of money were closely […] -
Working Paper No. 832
Η άνοδος του χρήματος και της ταξικής κοινωνίας
Η παρούσα εργασία διερευνά την άνοδο του χρήματος και της ταξικής κοινωνίας στην αρχαία Ελλάδα, αντλώντας ιστορικούς και θεωρητικούς παραλληλισμούς από την περίπτωση της αρχαίας Αιγύπτου. Με τον τρόπο αυτό, η εργασία εξετάζει την ιστορική εφαρμογή της μεταλλικής θεωρίας του χρήματος και της θεωρίας του παραστατικού χρήματος (chartalism). Θα δείξουμε ότι η προέλευση και η […] -
BlogCountering Austerity Economics
As deflation sets in in the economies of Europe and Japan, Robert Kuttner’s words in Debtor’s Prison: The Politics of Austerity versus Possibility—an interesting, readable new volume—complement those of many of the Levy Institute’s scholars. The book argues that during the financial crisis and its aftermath, policymakers continually relied on excessively optimistic projections of economic [...] -
Blog
The Modern Money Primer: Spanish Language Edition
For our Spanish-speaking followers, my Modern Money Primer has just been released in Spanish and is available: Here’s the description of the book: El esfuerzo intelectual que se realizó en el campo de la física tras la aparición de la teoría de la relatividad o del modelo copernicano, no se llevó a cabo en la [...] -
Press ReleaseRania Antonopoulos, Senior Scholar at Levy Economics Institute and Professor at Bard College, Appointed Greece’s Deputy Minister of Labor and Social Solidarity
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Blog
Jobs for Greeks and for Americans, Too
Here’s a nice piece: The Workers’ Think Tank: With an eye on the United States and Greece, scholars at the Levy Economics Institute are developing plans to ensure full employment, by Sasha Abramsky, The Nation. As Sasha notes, the Levy Institute has a novel approach to fighting unemployment: JOBS! Hardly anyone ever thinks about that—that the [...] -
The Workers’ Think Tank
The Nation profiles the work of the Levy Institute, including its proposal of a job guarantee to ensure full employment. -
The Workers’ Think Tank
The Nation, February 2, 2015. All Rights Reserved. By many measures, the American economy has recovered from the 2008 implosion. The stock market is soaring, housing values in many markets have rebounded and GDP is growing at a healthy rate of more than 4 percent. Compared to Spain and Greece, where debt, mass unemployment and […] -
Working Paper No. 831
Beyond Market Failures
Recent decades witnessed a trend whereby private markets retreated from financing the real economy, while, simultaneously, the real economy itself became increasingly financialized. This trend resulted in public finance becoming more important for investments in capital development, technical change, and innovation. Within this context, this paper focuses on the roles played by a particular source […] -
Blog
“The Top 10 Percent Get It All”
Yesterday on the floor of the US Senate, Sen. Bernie Sanders delivered a speech featuring Pavlina Tcherneva’s widely-discussed chart, which illustrates how the bottom 90 percent’s share of income gains during economic expansions has shrunk to (literally) less than nothing. Watch (beginning at 26min50s): [iframe width=”461″ height=”351″ src=”//www.c-span.org/video/standalone/?c4525785″ frameborder=”0″ allowfullscreen></iframe]