Institute for New Economic Thinking

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Institute for New Economic Thinking

The Institute for New Economic Thinking (INET) was founded at the end of October 2009 to develop new ways of thinking in economics after the financial crisis . The think tank is headquartered in New York . It is planned to establish INET “outposts” in different countries, these should cooperate closely with universities . The managing director of the INET Institute is the economist Robert Johnson, former managing director of the hedge fund Soros Fund Management .

aims

The institute will award research grants, organize symposia and publish a magazine. It is about finding new paradigms and shaking the “market fundamentalist consensus” in economics .

history

In January 2009, Anatole Kaletsky, Roman Frydman and George Soros discussed the need to create a new consensus in the economy after the financial crisis. Twenty-five economists, journalists, and financial investors met in Bedford, NY, in September to discuss the topic. INET was then founded in October 2009. Robert Johnson became Executive Director. An advisory board was set up in November.

Co-founders include Nobel Prize winners George Akerlof , Sir James Mirrlees , A. Michael Spence and Joseph Stiglitz . Other members of the founding advisory board are Jeffrey Sachs , Willem Buiter, Markus K. Brunnermeier, Robert Dugger, Duncan Foley, Thomas Ferguson , Roman Frydman, Ian Goldin, Charles Goodhart, Anatole Kaletsky, John Kay , Axel Leijonhufvud , Perry Mehrling , YV Reddy, Kenneth Rogoff , John Shattuck, William R. White, and Yu Yongding.

George Soros funded the project with 50 million US dollars. Other donors were Jim Balsillie and William Janeway. A total of 200 million US dollars was raised.

There were major conferences in April 2010 at Cambridge University with the title: “The Economic Crisis and the Crisis in Economics”. In April 2011 a conference followed in Bretton Woods, New Hampshire on the topic: “Crisis and Renewal: International Political Economy at the Crossroads”. The third conference was in April 2012 in Berlin on the topic: “Paradigm Lost: Rethinking Economics and Politics” and the fourth conference in April 2013 in Hong Kong on “The Changing of the Guard?”.

See also

Individual evidence

  1. ↑ Press release : Innovative thinkers come together to face the challenges of the global economic crisis . In: Presseportal.de, October 27, 2009. Retrieved September 26, 2013.
  2. ↑ a b c d Olaf Storbeck: George Soros: Million attack on established economics . In: Handelsblatt , November 3, 2009. Retrieved September 26, 2013.

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