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BlogThe Levy Institute and the Future of Economics
According to my vita, my first paper for the Levy Economics Institute, “Unemployment, Inflation, and the Job Structure,” was first published almost exactly thirty years ago, in May 1995.[1] It was a categorical dissent from the micro-market framework, dominant then and still, of mainstream economics. The abstract reads: In this working paper, James K. Galbraith [...] -
BlogUnmasking Hidden Poverty in America: The Role of Time Deficits
What if Household Production is recognized as a necessity? Imagine if unpaid work done at home—cooking, cleaning, childcare, eldercare[1]—were recognized as part of basic needs as, for example, a minimal quantity of food and clothing? Would it change how much poverty we find? An upcoming study by the Levy Economics Institute suggests it absolutely would. [...] -
BlogTcherneva on Musk’s “Magic Money Computers”
There has been a lot of discussion about the birthright citizenship clause of the 14th Amendment recently. But there is another little-known clause that says that “the validity of the public debt of the United States, authorized by law … shall not be questioned.” In this Roundtable discussion, Institute President Pavlina R. Tcherneva discussed how [...] -
EFSyn features the latest Strategic Analysis from the Levy Institute’s Macro-Modeling Team, “Greece: Growing on an Unsustainable Path”
The Greek journal, EFSyn featured the predictions of the Levy Institute’s Macro-Modeling Team in a report over the weekend: The authors of the report (D. Papadimitriou, N. Rodousakis, G.T. Yajima, G. Zezza) clash with the over-optimism of the government, the EU, the IMF and the OECD and predict a 1.3% decrease in Greek GDP in 2026, a […] -
“Small businesses are a bellwether for overall trends in the economy”: Tcherneva on Marketplace
On April 1, Institute President Pavlina R. Tcherneva spoke on the Marketplace Morning Report episode, “Keep an eye on rising layoffs at the smallest businesses.” Tcherneva asserted that the behavior of small businesses can serve as a bellwether for overall trends in the economy. Listen to the full episode for further insights. -
Working Paper No. 1078“A Concentration of Private Power without Equal in History”
This manuscript presents a detailed summary and reassessment of the 1941 final report of the Temporary National Economic Committee (TNEC). We portion the manuscript into four major parts: background, major themes, assessment of the report, and additional analysis and reflection. In the first section, we cover what compelled the government’s investigation and we identify the […] -
Applying to the Levy Graduate Programs in Economic Theory and Policy
The Levy Economics Institute Graduate Programs in Economic Theory and Policy were created to offer students an alternative to mainstream programs in economics and finance. These innovative programs combine a rigorous course of study with the exceptional opportunity to participate in advanced economics research. Our MA and MS programs provide instruction grounded in the innovative approaches […] -
“The Trump tax cuts don’t have to be paid for,” Yeva Nersisyan for The Hill
Cutting government spending to “pay for” tax cuts makes a bad economic policy much worse. If Republicans want to cut taxes, the best option for Democrats is to insist that they not be “paid for.” Levy Scholar Yeva Nersisyan discusses the efforts of President Trump and the Republicans to cut taxes by reducing government spending. Our […] -
Strategic AnalysisGreece: Growing on an Unsustainable Path
Greece has been among the fastest growing economies among the EU member states in the post-COVID-19 period. However, in a previous (February 2024) report, Dimitri B. Papadimitriou, Nikolaos Rodousakis, Giuliano Toshiro Yajima, and Gennaro Zezza raised serious concerns regarding Greece’s dependency on imports. In their latest report, the authors argue that these problems have worsened, and the […] -
GreekΣτρατηγική Ανάλυση Ελλάδα: Αναπτυσσόμενη σε ένα μη Βιώσιμο Μονοπάτι
Η έκθεσή μας του Φεβρουαρίου 2024 (Papadimitriou, et al 2024) εξέφρασε σοβαρές ανησυχίες σχετικά με την εξάρτηση της Ελλάδας από τις εισαγωγές. Στην παρούσα έκθεση υποστηρίζουμε ότι τα προβλήματα που είχαμε επισημάνει έχουν επιδεινωθεί, ενώ οι σχετικά υψηλοί ρυθμοί ανάπτυξης που πέτυχε πρόσφατα η χώρα επιτεύχθηκαν με αντάλλαγμα την αύξηση του εξωτερικού χρέους, καθώς και […] -
“Preserving Social Security”: Scholar Stephanie Kelton Interviewed on The Hill
Levy Scholar Stephanie Kelton was interviewed by reporters at The Hill. In the segment, titled “Preserving Social Security,” Kelton defended the program and condemned its opponents such as Elon Musk and Howard Lutnick. -
EventInfo Session: Levy Graduate Programs in Economic Theory and Policy
This special information session and application workshop provides an overview of the Levy academic programs, student life, admission requirements, enrollment steps, financial aid procedures, and immigration requirements for international students. Applicants who attend a virtual information session will have their application fees waived.