Article overview
Concerted Action - Preventing the Wage-Price Spiral? Short Cut Highlights
Chancellor Olaf Scholz has announced that he will bring together employers and unions in a "Concerted Action" to discuss tackling inflation. Can such an alliance prevent a wage-price spiral?
New Stiglitz Study: Using Capital Taxes to Fund Public Investment
Researchers around nobel laureate Joseph Stiglitz have proven in a new study that taxing capital to fund public investment reduces wealth inequality without compromising growth.
The New Paradigm Papers of the Month of June
Once a month the Forum New Economy is showcasing a handful of selected research papers that lead the way towards a new economic paradigm.
How to Make the State Better
Fritzi Köhle-Geib, Max Krahé, Thurid Hustedt, and Erkki Karo on how to re-design a modern and pro-active state.
Regional Disruptions – A Pro-Active Government Beyond Redistribution
Jens Südekum presented results of his Forum study on proactive measures against regional upheavals at our X New Paradigm Workshop.
On the Impact of Sanctions – The Case of Putin’s Russia
Robert Gold presented new research on the highly topical question of the political effects on the sanctions imposed on Russia at our X New Paradigm Workshop.
Market versus State - Beyond the Old Dichotomy
Wendy Carlin, Paul de Grauwe, Xavier Ragot and Henning Vöpel on the new balance between state and market and the signs for a paradigmatic shift.
The New Paradigm Papers of the Month of May
Once a month the Forum New Economy is showcasing a handful of selected research papers that lead the way towards a new economic paradigm.
Climate Policy from a Keynesian Point of View
A new paper by J. W. Mason (City University of New York) emphasises the need for investment-centred instead of price-centred climate policy.
Why Public Value Creation Should Be Brought Back to the Center Stage of the Economy
In a recent contribution, Mariana Mazzucato and Josh Ryan-Collins argue that governments should move from market-fixing to market-shaping, creating a revised concept for public value.
OUR MAIN TOPICS
New Paradigm
NEW PARADIGM
After decades of overly naive market belief, we urgently need new answers to the great challenges of our time. More so, we need a whole new paradigm to guide us. We collect everything about the people and the community who are dealing with the question of a new paradigm and who analyze the historical and present impact of paradigms and narratives – whether in new contributions, performances, books and events.
Redefining
the role of
the state
REDEFINING
THE ROLE OF
THE STATE
For decades, there was a consensus that reducing the role of the state and cutting public debt would generate wealth. This contributed to a chronic underinvestment in education and public infrastructure. New research focuses on establishing when and how governments need to intervene to better contribute to long-term prosperity and to stabilize rather than aggravate economic fluctuations.
Remaking
finance
REMAKING
FINANCE
More than a decade after the financial crisis there still seems to be something seriously wrong with the financial system. Financial markets still tend to periodically misprice risk and contribute to boom and bust cycles. A better financial system needs to discourage short-termism and speculative activity, curtail systemic risk and distribute wealth more broadly.
Greening
prosperity
GREENING
PROSPERITY
During the high point of market orthodoxy, economists argued that the most 'efficient' way to combat climate change was to simply let markets determine the price of carbon emissions. Today, there is a growing consensus that prices need to be regulated and that a carbon price on its own might not be enough.
Reducing
inequality
REDUCING
INEQUALITY
The rising gap between rich and poor has become a threat to social cohesion in most rich countries. To reverse this trend it will be crucial to better understand the importance of different drivers of income and wealth inequality.
Innovation Lab
INNOVATION LAB
Do we need a whole new understanding of economic growth? What would be a real alternative? How viable are alternatives to GDP when it comes to measuring prosperity? These and other more fundamental challenges are what this section is about.
Globalization
for all
GLOBALIZATION
FOR ALL
After three decades of poorly managed integration, globalization is threatened by social discontent and the rise of populist forces. A new paradigm will need better ways not only to compensate the groups that have lost, but to distribute the gains more broadly from the start.
Europe
beyond markets
EUROPE
BEYOND MARKETS
The euro was planned during a period in which economic policy making was driven by a deep belief in market liberalism and the near impossibility of systemic financial crises. This belief has been brought into question since the euro crisis, which showed that panics do happen. New thinking needs to focus on developing mechanisms to protect eurozone countries from such panics and to foster economic convergence between members.
Corona Crisis
CORONA CRISIS
The current Corona crisis is probably the worst economic crisis of the post-World War 2 era. Economists are working hard on mitigating the economic effects caused by COVID-19 to prevent a second Great Depression, the break-up of the Eurozone and the end of globalisation. We collect the most important contributions.