Articles
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Globalization The Fall of the Wall and the “Schwarze Null” – Understanding Germany’s Surplus
Review of Chapter 5 in Michael Pettis' and Mathew Klein's “Trade Wars are Class Wars” by Marc Adam
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New Paradigm VII New Paradigm Workshop – On the future of the German economic model
30 years after German unification, we will host our next workshop on the future of the German model. The seventh New Paradigm Workshop will take place from September 28 to 30, virtually and hopefully in Berlin.
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The State BMWi-Beirat empfiehlt Erhöhung der Mittel für öffentliche Investitionen
Ein Gutachten des Wissenschaftlichen Beirats beim Bundesministerium für Wirtschaft und Energie stellt fest, dass in Deutschland schon seit vielen Jahrzehnten deutlich zu wenig in die öffentliche Infrastruktur investiert wird.
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New Paradigm Kapitalismus am Pranger – mehr als Gejammer
Mehr als die Hälfte der Deutschen zweifelt am Kapitalismus – das bringt auch die FAZ ins Grübeln. Ein Auflösungsversuch.
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Europe The Global Consequences of Germany’s “Educational Imperialism”
Matthew Klein describes how Germany's export strategy is damaging Europe and the rest of the world.
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Inequality DIW-Study Shows Unimagined Level of Inequality
Wealth inequality in Germany is even higher than estimated. That shows a new DIW-study which uses a new data mechanism.
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Globalization Quick & New: Dani Rodrik – Why Does Globalization Fuel Populism?
A new working paper by Dani Rodrik models the link between globalization and populism
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The State Toward a New Fiscal Constitution
Mariana Mazzucato and Robert Skidelsky call for a new and mission-oriented fiscal constitution. They advocate for new indicators and the implementation of Job Guarantee Programmes.
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Innovation Lab Book Recommendations from the World of Economics
Martin Wolf selects the best books for the summer vacation from the world of economics. From MMT over Trade Wars up to every facet of inequality. Everyone can find something here.
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Corona Crisis New Economy Short Cuts with Kristian Blickle (New York Fed)
Kristian Blickle will present a new version of his working paper "Pandemics Change Cities: Municipal Spending and Voter Extremism in Germany, 1918-1933".
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Inequality Wie ungleich Deutschland wirklich ist
Ist das Auseinanderdriften von Einkommen und Vermögen real – oder nur Panikmache? Darüber wird hierzulande seit Jahren gestritten. Das Forum New Economy hat führende Forscher beauftragt, die empirische Evidenz zusammenzustellen. Erster Teil der Studie.
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Corona Crisis New Economy Short Cuts with Sebastian Dullien
Sebastian Dullien (IMK) gave an assessment of the impact of the economic stimulus package at the start of our new format "New Economy Short Cuts". The recording is available here.
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Innovation Lab A Market for Values and its role in reconciling capitalism and democracy, economics and ethics
In a guest contribution for Forum New Economy, Marco Senatore, Senior Civil Servant at Italy's Department of the Treasury discusses his notion of a market for values.
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Corona Crisis Quick & New: Narratives and Szenarios in the post-Corona world
Does the crisis trigger a transformation process or will everything go back to normal? Hannes Böhm and Valentin Sagvosdkin describe the importance of narratives for the time after the crisis.
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Finance Ann Pettifor – Green New Deal: Warum wir können, was wir tun müssen
In ihrem neuen Buch beschreibt die britische Ökonomin und Finanzexpertin Ann Pettifor einen „Green New Deal“, der weit über den derzeitigen Vorschlag der Europäischen Kommission hinaus geht.
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Corona Crisis Larry Summers talked to NAEC (OECD)
Our cooperation partner NAEC (OECD) invites you to a conversation with former US Treasury Secretary Larry Summers. You can find the recording here.
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Inequality The State of Inequality in Germany
What are the recent trends in income, consumption and wealth inequality in Germany? Charlotte Bartels and Carsten Schröder review the literature in a new study commissioned by Forum New Economy.
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Inequality Inequality of what?
As there are many critical choices made when measuring inequality, this post reviews the important methodological choices, including that of the reference unit (e.g., individual vs. households) and of the data source (e.g., administrative vs. survey data). By Charlotte Bartels and Carsten Schröder.
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Globalization Digital Global Solutions Summit: Global Table
The Future of Multilateralism and Global Governance - Curated and produced by Forum New Economy
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Corona Crisis GroKo-Paket bleibt hinter Möglichkeiten zurück
So gut das Konjunkturpaket der Bundesregierung wirken mag – mit der Summe hätte mehr erreicht werden können. Von Sebastian Dullien
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New Paradigm Von Falken zu Tauben? Deutschlands neue Generation von ÖkonomInnen
Mit dem Deutsch-Französischen Vorschlag eines Wiederaufbauplans zeigt sich, dass sich über die letzten Jahre ein neue Riege von Ökonomen und Ökonominnen in den Vordergrund gespielt hat - schreibt Caroline De Gruyter im euobserver.
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Corona Crisis The way out of the crisis – all news about a possible recovery plan
The German government has decided on an economic stimulus package of 130€ billion. Achim Truger and Michael Hüther evaluated individual measures in advance. Laurence Tubiana and Emmanuel Guerin insist on the importance of the Green Deal for reconstruction.
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New Paradigm The Gradual Encroachment of Ideas – Lessons from the past paradigm shift
A Forum New Economy Working Paper by Laurie Laybourn-Langton.
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New Paradigm INET Event: Europe’s Hamiltonian Moment…or the Beginning of the End?
Laurence Boone, Moritz Schularick and Adam Tooze discussed the impact of the COVID-19 crisis on the Eurozone and how the new proposal will affect the outlook of the EU.
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Europe German-French alternative to Euro-Bonds
What's behind Merkel and Macron's 500 billion-dollar proposal. Our update on the reconstruction plans for Germany and Europe.
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New Paradigm Quick and New: The Death of the Central Bank Myth
"For decades, monetary policy has been treated as technical, not political. The pandemic has ended that illusion forever." writes Adam Tooze in Foreign Policy. Our update from the new paradigm community.
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New Paradigm Wenn Ökonomen über ein Virus streiten – und mancher abdriftet
Eine Polemik, aufgeschrieben und gesammelt vom Medienportal „Übermedien“ – und eine Antwort von Rüdiger Bachmann
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New Paradigm Laudatio für die Träger des Hans-Matthöfer-Sonderpreises 2020
Im März haben Sebastian Dullien und Michael Hüther für ihren gemeinsamen Plan zu einem langfristigen Investitionsplan für Deutschland den Hans-Matthöfer-Preis bekommen. Warum? Die Laudatio von Thomas Fricke.
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Europe German Constitutional Council confuses Europe
Katharina Pistor, Peter Bofinger and Mark Schieritz sharply criticise the ruling of the Federal Constitutional Court. They argue that the court seems to be insensitive to the political implications and appears economically ill-advised.
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Uncategorized Quick & New: Partners for a New Economy searches Director
Partners for a New Economy (P4NE) is an international donor collaborative that wants the economic system to generate positive environmental and social outcomes. They are searching for a new Director.
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Corona Crisis Corona Workshop Video: Fiscal Policy – Will the Trillions be enough?
Robin Brooks, Frank van Lerven, Antonella Stirati and Shahin Valleé discuss the fiscal capacities of countries hit by the corona virus and lay out what needs to be done next.
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Corona Crisis Central banks to the rescue? Is this the time for helicopter money?
Corona Workshop: Over the last four decades central banks have been almost exclusively mandated with the task of macroeconomic stabilization. Can they still do their job? We discussed this with Eric Lonergan, Martin Hellwig, Peter Bofinger and Daniela Gabor.
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Corona Crisis Corona Workshop Video: Real Economy Crisis – Towards the Great Corona Depression?
Nicola Brandt, Sebastian Dullien, Stephen Kinsella and Jens Südekum discuss the real-economic effects of the Corona crisis.
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Corona Crisis VIDEO: Introduction to The Corona Economic Shock
Introductory remarks by Thomas Fricke and Gerhard Schick on the state of the economy and a plan to cope with the crisis.
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Corona Crisis Highlights and Quotes of the Corona Workshop
How dramatically does the Corona crisis threaten to become economically and financially still? Will the aid be enough? And will the world be the same as before?
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Corona Crisis Eurozone – Time for Eurobonds?
Corona Workshop: A summary of the session "Eurozone - is this the time for Eurobonds?" (Video included) during our Corona Economic Workshop on 22 April. Simon Tilford has assembled quotes and analyzes the discussion during the session.
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Corona Crisis The Corona Crisis – Is this the time for Helicopter Money?
Marc Adam explains the concept of helicopter money and analyzes the discussion around it. Input for the session on central bank action during the corona crisis.
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Corona Crisis LIVESTREAM: Forum New Economy Workshop on 21/22 April
International video conference on the Corona economic shock, the short-term urgency and long-term prospects, on 21/22 April.
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Corona Crisis Economists against Euro-Agreement
In Italy, 101 economists have recommended that the government simply should not agree to the latest Eurogroup proposals. A documentation.
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Corona Crisis The forgotten history of European Community debt
Sebastian Horn, Josefin Meyer, Christoph Trebesch show that since the 1970s, the European Commission has placed more than a dozen community bonds on private markets, which were guaranteed by the member states and distributed to countries in crisis.
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Corona Crisis One Policy is not Enough – Proposals for the EU
What is the EU's coherent response to the Corona crisis? For days the advantages of the ESM or Euro-bonds have been discussed. In the meantime there is a consensus that a single measure will not suffice.
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Corona Crisis Simon’s Blog: America Is Having an Unemployment Apocalypse. Europe Chose Not to.
A trans-Atlantic chasm has opened up on pandemic labor policy. We’ll soon know which side got it right.
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Finance The Conflict of Interest on the Financial Market in Europe
How far can policymakers stretch the mandate of the ECB? Right now the central bank seems to be the institution burdened with organizing European solidarity. Erik Jones gives a detailed look into the current developments and explains how the banking sector functions.
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Corona Crisis Maja Göpel: A Social-Green Deal as the Answer
Maja Göpel puts an end to three formerly dominant narratives that determined the economy. For her, the way out of the crisis must be a social-ecological one, which must be tangible for the people.
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Inequality Seminar with Thomas Piketty: Capital and Ideology (French)
Thomas Piketty has put the issue of inequality in the economy back on the agenda. Following the success of "Capital in the 21st century", he has now given a seminar on the occasion of his new book "Capital and Ideology" hosted by the Centre Marc Bloch.
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Corona Crisis International survey on how citizens prepare for and cope with the Coronavirus – Call for participation
In a joint project, scientists from 12 institutions (including Harvard, MIT, Cambridge and Warwick University) are investigating how people are coping with the corona crisis.
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Corona Crisis Simons Blog: Why this crisis will bring about a new economic settlement
Policymakers reverted to the status quo after the last recession. This time must be different.
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Innovation Lab Maja Göpel – „Unsere Welt neu denken“
Unsere akademische Partnerin, die Politökonomin Maja Göpel, hinterfragt in ihrem neuveröffentlichten Buch unser auf Wachstum ausgerichtetes Wirtschaftssystem und sucht nach einem nachhaltigen Entwicklungsmodell.
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Corona Crisis Romer & Garber: How to prevent the economy from dying?
The corona-pandemic has emerged from a health crisis into an economic crisis with looming supply and demand shocks. Nobel prize winner Paul Romer and Alan Garber from Harvard University have laid out a plan to deal with the crisis.
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Corona Crisis Stabilisation in the crisis: ESM versus Eurobonds
How to ensure the necessary fiscal flexibility for EU-countries? Leading economists debate whether the financing of government action should be ensured through the ESM or joint Eurobonds.
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Corona Crisis Peter Bofinger: The time for MMT is now
The corona-crisis calls for a "whatever it takes" response on a fiscal level. Peter Bofinger argues that the Modern Monetary Theory gives theoretical justification for such an answer.
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Corona Crisis A Systemic Approach to Dealing with Covid-19 and Future Shocks
Our partners at the OECD view the corona crisis as a reason to systematically strengthen the resilience of our economic and social system.
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Innovation Lab Robert Shiller on Narratives and the Next Paradigm
Narratives are still underrepresented in economic research. Robert Shiller wants that to change and points to the huge influences in economic developments fueled by narratives.
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Innovation Lab OECD (NAEC) Conference – Integrative Economics
On March 5-6, 2020 our partner organization NAEC at the OECD hosted a conference on “Integrative Economics”. The event featured epidemiologist Joshua M. Epstein, Nobel Prize laureate James Heckman and many others.
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The State Quick & New: Introducing the Payer of Last Resort
Emmanuel Saez and Gabriel Zucman call for more government action during the corona crisis. They argue that the government needs to act as a short-term payer of last resort to finance idle workers and business maintenance costs.
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Corona Crisis Coronavirus Means Zero Hour for the European Union
Tom Ferguson (INET) and Edward Kane (Boston College) warn that the EU could collapse if its institutions repeat the mistakes of the Euro crisis.
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Corona Crisis Shiller on Corona-Panic – Better to shut down financial markets?
The Corona crisis has led to panic in the financial markets. Asset prices in some cases fell even lower than at the time of the financial crisis in 2008, which is why Nobel Prize winner Robert Shiller says that one should also think about temporarily suspending the markets.
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Innovation Lab Robert Shiller on Epidemics of Narratives – and the Corona-Crisis
Nobel prize laureate Robert Shiller is the expert when it comes to narratives in economics. We had the chance to talk to him this monday in an exclusive Forum New Economy seminar about his new book, important narratives and the parallels to the current crisis.
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Inequality The Distribution of Wealth in Germany, 1895 to 2018
A new study by Thilo Albers, Charlotte Bartels and Moritz Schularick for the first time assesses the long-run evolution of wealth inequality in Germany. BY MARC ADAM
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Corona Crisis Economic policy in the Corona crisis: Making the most of a crisis?
Covid-19 has paralyzed the global economy. What does this mean for Germany’s unprecedentedly internalized industrial sector? Here we give an overview of the economic policy implications:
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Finance IfW Kiel on the EU Financial Transaction Tax: “Instrument suitable, proposed implementation flawed”
According to a recent German-French proposal, a financial market transaction tax (FTT) at a rate of 0.2% on the purchase of securities is to be introduced in 10 EU countries, including Germany, and limited to shares in large companies. In their study, the authors of the Kiel institute for the world economy compare this proposal in an international perspective, assess its strengths and weaknesses on the basis of empirical evidence and develop policy recommendations.
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The State Quick & New: New Zealand is moving past economic growth
While most countries base their annual budget on the economic benefits and the impact on growth and productivity, New Zealand takes another route.
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Europe Video: Carlo Jaeger – EU needs a new Innovation Strategy
The Green Deal as currently designed is a big chance but not enough. Carlo Jaeger (Global Climate Forum) advocates for more public investments and a redirection in the innovation strategy in Europe.
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Europe Video: Xavier Timbeau on the effects of the Green Deal on Productivity
During our Green Deal seminar, we had the chance to talk to Xavier Timbeau (OFCE) about the effects of the deal on stranded assets and productivity. He predicts that the deal will have a massive impact on both and puts the distributional costs of the deal into the focus.
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New Paradigm Forum New Economy Book Presentation with Robert Shiller
We regret to inform you that we have to postpone the book presentation with Prof. Robert J. Shiller, as he has decided not to travel to Europe at this time. We are about to reach out for a new date in fall and will let you know soon. We apologize for any inconvenience this cancellation may have caused.
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The State Video: Jens Südekum zu den Herausforderungen der Industriepolitik in Deutschland
40 Milliarden Euro werden in den drei deutschen Braunkohlerevieren investiert, um den Weggang der ehemaligen Industrie abzufedern. Jen Südekum (DICE) ist der Meinung, dass die Investitionen nicht in konsumptive Projekte fließen dürfen, sondern einen positiven Effekt für die Produktivität auf staatlicher und europäischer Ebene haben müssen.
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Europe Video: Brigitte Knopf on distributional effects through carbon-pricing
The Green Deal aims at effectively pricing carbon throughout the EU-economy. We asked Brigitte Knopf (MCC) how this could be done and what she believes the price-levels should look like.
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Europe Forum Seminar: The Economics of the EU‘s Green Deal – Highlights
The EU’s Green Deal is one of the most ambitious EU endeavours to fight climate change. Nevertheless, it still needs more to be more impactful and tangible for people. This has been one of the main common insights of our seminar on the economics of the deal this week in Berlin.
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Europe The EU’s Green Deal – on its Macroeconomic Potential
The announcement of a Green Deal for Europe as introduced by the European Commission made huge headlines. Now there is a trillion Euro question to be answered. Is it in reality only a 7.5 billion Euro question? We try to bring clarity with this Framing Paper which we wrote to complement our Green Deal seminar hosted on the 18th of February.
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Europe Forum New Economy hosts Green Deal Seminar
What to make of the Green Deal introduced by Ursula von der Leyen? We will discuss that with experts academic experts, relevant policymakers and our academic partners at a Seminar on the 18th of February.
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New Paradigm Dani Rodrik – New Firms for a New Era
Dani Rodrik argues that if firms, as social and political actors, are to serve the public good, workers and local communities should have a much bigger say in their decisions.
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New Paradigm New Forum Blog: Tax debates – what really matters
Taxes are not levied to annoy people, but to steer economic and social development in line with a country’s political preferences. Tax reform is therefore central to shifting economic paradigms.
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New Paradigm The Great Affordability Crisis
Annie Lowrey portrays in her article the inherent flaws of the US-economy. While growth rates are stellar and unemployment rates are low, the people are struggling. This paradox explains the necessity for a new economic paradigm.
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Inequality Inequality 101 with Branko Milanovic and Arjun Jayadev
Inequality may be the pressing issue of our time. Until recently however, inequality was seen as a normal externality with positive effects. Branko Milanovic and Arjun Jayadev break down all aspects of inequality for the Institute for New Economic Thinking in a new series called "Inequality 101".
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The State Quick & New: Dalia Marin – Europe in Need of State-Led Research
Crowding-In is the new Crowding-Out: Dalia Marin argues that Europe, and Germany in particular, should support companies with greater state-led technological investments.
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Inequality Rebottling the Gini: why this headline measure of inequality misses everything that matters
In an article for Prospect Magazine Angus Deaton and Anne Case argue against the use of the most common indicator on inequality.
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New Paradigm From New Deal to Green New Deal Lessons from the post-war shift
In a project for Forum New Economy, Laurie Laybourn-Langton (IPPR) explores the strategies and means of organisation employed by those seeking a paradigm shift before, during and after WWII. The study was presented at the Fifth New Paradigm Workshop in Paris last year, where we also interviewed Laurie about his work.
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The State Eine gute öffentliche Infrastruktur ist das Fundament einer gerechten Gesellschaft
In einem Essay für Makronom argumentiert Tom Krebs, dass eine gut ausgebaute öffentliche Infrastruktur die Grundvoraussetzung für Egalität in der Gesellschaft darstellt.
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New Paradigm Quick & New: Dani Rodrick – The Changing Face of Economics
In a Project Syndicate article Harvard Professor Dani Rodrick argues that "the challenge for economists is to remain true to their empiricism without crowding out the imagination needed to envisage the inclusive and freedom-enhancing institutions of the future."
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New Paradigm The Power of Economic Models
In a new journal article, Philipp Heimberger, Jakob Huber and Jakob Kapeller study how economic models shape and reflect economic paradigms and hence policy programs.
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New Paradigm Das Forum New Economy im Interview mit dem RBB.
Das Inforadio vom RBB hat mit Direktor Thomas Fricke über Ungleichheit und Gerechtigkeit gesprochen.
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Europe The proposed reform of the European Stability Mechanism must be postponed
Eurozone finance ministers reached a preliminary agreement on a reform of the European Stability Mechanism in June, but failed to conclude it last week. The reform is now set to be discussed during the European Council meeting on 12-13 December. Shahin Vallée, Jérémie Cohen-Setton, Paul De Grauwe and Sebastian Dullien write that the proposal should not be endorsed in its current form. They argue it would represent a missed opportunity to secure a broader and more ambitious reform package.
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The State An Investment Agenda for Germany
The association of German employers (BDI) and the German trade unions (DGB) have called for an increase of investment spending of almost €500bn over the next ten years.
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New Paradigm INET 24-part lecture series: Economics for People with Ha-Joon Chang
Our partner institution Institute for New Economic Thinking (INET) has launched a new 24-part lecture series, "Economics For People" with University of Cambridge economist and bestselling author Ha-Joon Chang.
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Inequality Quick & New: Escaping the Inequality-Data Dark Ages
Thomas Piketty, Lucas Chancel, Facundo Alvaredo, Emmanuel Saez and Gabriel Zucman argue that we need to develop an internationally recognized set of indicators and methods for tracking income and wealth inequality.
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Globalization What were the Driving Forces in the 2019 UK General Election?
By Thiemo Fetzer (University of Warwick)
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Globalization Sorgen im Aufschwung – Wer hat Angst vor der Globalisierung?
Zum Start unseres Forums haben wir die Deutschen befragen lassen – zu Globalisierung, Abstiegsängsten und marktliberalen Dogmen. Jetzt liegen die Detailergebnisse auch nach Alter, Einkommen und Regionen vor, die Thomas Fricke für den „Wirtschaftsdienst“ ausgewertet hat. Danach haben vor allem die Über-50jährigen große Zweifel an der Globalisierung. Nachzulesen in der gerade erschienenen Dezember-Ausgabe.
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New Paradigm Quick & New: Forum New Economy in El País
Der Start unseres Forum hat auch jenseits der Grenzen für Aufmerksamkeit gesorgt. Ende November berichtete die spanische Zeitung El Pais über einen möglichen Paradigmenwechsel in Deutschland.
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New Paradigm Germany is falling out of love with economic orthodoxy
Thomas Fricke and Simon Tilford, directors at Forum New Economy, have written an opinion piece for the Financial Times. They argue that Germany could be on the cusp of another paradigm shift.
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New Paradigm -
New Paradigm A Forum’s Nobel talk about new paradigms
Nobel laureate Michael Spence on the lessons that have yet to be learnt from the Great Financial Crisis – and the potential for a new economic policy narrative.
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New Paradigm Top economist Branko Milanovic on how to reform capitalism
The complete keynote that Branko gave at the launch of our Forum in Berlin.
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New Paradigm Starting a Berlin-based Forum to promote new economic approaches
Climate change, dangerously high inequality, unstable financial markets and the looming crisis of globalization – all these challenges require fundamentally new answers — by Thomas Fricke and Simon Tilford.
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New Paradigm Berlin orthodoxy? What do Germans really think
A poll among Germans reveals deep scepticism regarding economic orthodoxies officially defended in the country.
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Globalization What really drives populist votes?
Recent insights and open questions. A paper by Thiemo Fetzer and Robert Gold for the Forum New Economy, October 2019.
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Inequality How unequal is Germany?
Update on the empirical evidence – first step of a multiannual research project.
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New Paradigm In den Medien – Wer hat was über uns geschrieben
Ein Überblick zu den Artikeln und Berichten zum Start des Forum New Economy in Berlin.
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Climate On The Economics Of A Green (New) Deal Green
By A Gueret, A Saussay, X Timbeau, OFCE, presented at the first Paris Workshop of the New Paradigm Initiative (now Forum New Economy)
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The State -
Europe Paradigm Shift in the Eurozone? The Market-Based Convergence Rationale
Basic Paper by Simon Tilford, Tony Blair Institute for Global Change and Christian Odendahl, Centre for European Reform.
