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.
LATEST NEWS
Should We All Work Less?
In most economies, people today work as much as they did decades ago, despite increases in productivity. Why is that the case? We invited leading researchers to our New Paradigm Workshop to discuss the answers.
On the best/ worst of Mankiw
Peter Bofinger has caused quite a stir with his criticism of two of the most legendary economics textbooks - now he had the chance to argue with the author, Greg Mankiw himself, about the famous textbooks. The two were joined on the panel by Anna Reisch and Rudi Bachmann.
Robert J. Shiller on “Narrative Economics – How Stories Go Viral and Drive Major Economic Events”
The Nobel Prize-winning economist explains the idea behind his research on economic narratives and enumerates the main findings included in the book.
Beyond Growth: Towards a New Approach
The OECD has published a new report by Michael Jacobs, prepared for New Approaches to Economic Challenges (NAEC), September 2020.
Angrynomics - with Mark Blyth and Eric Lonergan
In the third edition of our Short Cuts we had the pleasure of hosting Mark Blyth and Eric Lonergan to talk about their new book "Angrynomics".
Measuring What Matters – A GDP Critic
Joseph Stiglitz describes the problematic focus on GDP when measuring the well-being of societies. He advocates for the use of a dashboard with individual indicators for each country.
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.
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.
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.
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.
Poking the purpose of paradigms: What might an economy be for, anyway
Maja Göpel, PRESENTATION to the 3rd New Economic Paradigm Workshop.
OTHER 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.