Institute for New Economic Thinking

The Institute for New Economic Thinking (INET) is focused on the thorough exploration of fresh economic ideas and approaches that tackle the critical issues facing society today. We promote effective economic concepts aimed at benefiting humanity. Established in 2009, we operate as a nonpartisan, nonprofit entity that champions forward-thinking initiatives in several key areas: the connection between finance and the overall economy, issues of inequality and distribution, the economics of innovation, and the sustainability of our environment and resources. We are in the process of creating a worldwide network of innovative economic thinkers, supported by our grantees, research collaborations, partnerships with top universities and organizations, prominent events, and a rising number of student-led movements. We also offer interactive educational resources at no cost to audiences around the globe. Our efforts are informed by historical context and draw from multiple disciplines. We recognize that complexity and uncertainty are fundamental aspects of economic and financial systems, and we challenge theories that wrongly assume people always act in rational and predictable ways. Conventional economics has its shortcomings. Our aim is to provide optimistic solutions to the significant challenges of the 21st century.

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Articles

They Looted Companies - Now They're Looting the Government

3 days ago | ineteconomics.org | Lynn Parramore

There’s a familiar myth in American politics: that of the no-nonsense business leader who cuts through red tape and gets results. It fuels the belief that running a country is just like running a company — and that executives, with their boardroom instincts and bottom-line mindset, are exactly what government needs. But that myth collapses under the weight of what corporate leadership has actually become — and what happens when it migrates into public office.
What the Economy Is Really For - And Why Tariffs Miss the Point

3 weeks ago | ineteconomics.org | Lynn Parramore

For the last 40 years, millions upon millions of hard-working Americans have been clocking in, doing their part — and getting less in return. They are very upset, as well they should be. Wages have stalled. Job security’s a joke. Yet corporate profits are sky high. Just look at the scoreboard: In 2024, Apple raked in $93.7 billion, Alphabet (Google’s parent company) pulled in $100.1 billion, and ExxonMobil reaped $33.6 billion.
“Founders Would Be Horrified”: Renowned Historian Drops Truth-Bomb on American Revolution and Lessons for Today

1 month ago | ineteconomics.org | Lynn Parramore

April 19th marks the 250th anniversary of the Revolutionary War’s start, with the first battles taking place in Lexington and Concord, Massachusetts. You’ve probably got a solid idea of what kicked it all off — a fight for liberty, right? Well, not so fast, says historian Marc Egnal. The “fight for liberty” narrative is a nice story, but it doesn’t quite hold up when you dig into the real reasons behind the American Revolution.
7 Truths About Trump’s Tariffs - And the High-Stakes Future They Shape

1 month ago | ineteconomics.org | Lynn Parramore

In a series of high-level discussions in Rome and Berlin, Thomas Ferguson—a leading authority on money and politics—offered a sweeping analysis of the deeper forces driving President Donald Trump’s tariff agenda. Far from a spur-of-the-moment decision, Trump’s economic moves reflect a broader political realignment and years of behind-the-scenes preparation.
Explosive New Book Argues Facebook Is a Global Engine of Harm and Corruption. Is Reform Possible?

1 month ago | ineteconomics.org | Lynn Parramore

Early in her chilling account of life as a Facebook executive, Sara Wynn-Williams drops an intriguing detail: Mark Zuckerberg’s favorite president. The young founder – still in his twenties at the time — picks Andrew Jackson, because he “got stuff done.” “What about Lincoln or Roosevelt” the author asks the boss. Didn’t they get stuff done, too? Zuckerberg insists: “It’s Jackson.
“A Generational Loss of Talent” - Scientist Warns Funding Cuts in Science, Tech, and Health Undermine U.S. Leadership

2 months ago | ineteconomics.org | Lynn Parramore

Students left in limbo with PhD programs paused. Essential scientific research slashed. Key disease response meetings cancelled. The threat of China’s dominance growing. The Trump administration’s campaign to restrict funding for U.S. institutions critical to science, technology, and health has sparked growing anxiety. Will budget cuts derail America’s leadership, altering its global standing for years to come? What will it cost us—and the rest of the world?
How Climate Denial is Fueling a U.S. Homeowners Insurance Crisis and Risking a 2008-Style Financial Meltdown

Feb 13, 2025 | ineteconomics.org | Lynn Parramore

Everyone’s freaking out about soaring homeowner’s insurance costs in the wake of devastating California fires. Right now popular anger focuses mostly on greedy insurance companies, but is that the whole story? Are they truly the main reason behind these rising premiums, or are other factors at play? Thomas Ferguson, Director of Research at the Institute for New Economic Thinking (INET), dives into the growing crisis, arguing that climate change denialism is hiding its true extent.
James K. Galbraith on His Latest Book, DOGE, Bitcoin & More

Feb 6, 2025 | ineteconomics.org | Lynn Parramore

Economics has a dirty secret. What if a core principle of mainstream economic theory—still taught in top universities, printed in textbooks, and shaping policy for all of us—is completely wrong? What if the iconic supply and demand chart every econ student knows by heart doesn’t actually capture the reality of how economies work? That’s the claim of noted economist James K.
How Shareholder Activism Became Toxic-and How to Fix It

Jan 28, 2025 | ineteconomics.org | Lynn Parramore

Hedge-fund activism—where funds push for quick profits by buying up big stakes in companies—has exploded in recent years. In his new book, The Rhetoric and Reality of Shareholder Democracy and Hedge-Fund Activism, economist Jan-Sup Shin of the National University of Singapore, an expert in technology and innovation, dives into how it all began and why it’s a growing problem.
The Origins of the Modern Era of the Federal Reserve

Jan 13, 2025 | ineteconomics.org | James Galbraith

Books discussed in this essay: Sarah Binder and Mark Spindel, The Myth of Independence: How Congress Governs the Federal Reserve. Princeton: Princeton University Press, 2017. Jeanna Smialek, Limitless: The Federal Reserve Takes on a New Age of Crisis. New York: Penguin Random House, 2023. Robert Hockett, Spread the Fed: Distributed Central Banking for Productive-Republican Finance. Palgrave MacMillan Economics, 2024. Jane D’Arista, One Among So Many: A Memoir. Self-published, 2024.