New School Economists Comment on Financial Crisis
The U.S. economy is surely in recession, even if it has yet to be officially declared. In fact, by many accounts, we are now facing the largest world financial crisis since the Great Depression.
New School economists have responded to the events with papers and documents that place current events in a longer - term context as well as policy proposals to deal with short term concerns. We have posted papers below.
We will also hold periodic seminars to discuss what is happening what it means, and what it can tell us about the globalized capitalist economy. Economists will also discuss the contours of a good bailout plan and the prospects for a more progressive economic order to emerge from the shock (see details below).
The Economic Crisis: What it is and What it Means
Tuesday, October 21, 2008 9:00 a.m.
Location: Tishman Auditorium, Alvin Johnson/J. M. Kaplan Hall, 66 West 12th Street Admission: Free; seating is limited.
Towards a Common Fiscal Policy:
Relaunching the Eurozone Economies
Appeal launched by the Cournot Centre and its president Nobel Laureate Robert Solow (MIT)
A Program for Economic Recovery and Financial Reconstruction from Progressive Economists
With funding from the Ford Foundation and under the auspices of the Political Economy Research Institute (PERI), University of Massachusetts and the Schwartz Center for Economic Policy (SCEPA), The New School for Social Research, a group of economists met in New York City on November 21 to discuss the causes of the current economic crises and short-term and long-term solutions. From this meeting and subsequent discussions a statement about the necessary contours of the economic recovery and re- regulation of the financial industry was constructed. Read the complete statement.
Memorandum on a New Financial Architecture and New Regulations
Teresa Ghilarducci (The New School). Edward Nell (The New School), Stefan Mittnik (University of Munich), Deepak Nayyar (The New School), Eckhard Platen (University of Technology Sydney) and Willi Semmler (The New School), Raphaele Chappe (The New School, former Lawyer at Goldman Sachs)
November 9, 2008
Save Pensions
Teresa Ghilarducci,
Op-Ed, New York Times
September 2008
The Economic-Historical Roots of U.S. Foreign Policy
Duncan Foley
November 2007
Liquidity, leverage and the impact of sub-prime turbulence
John Eatwell, Tarik Mouakil and Lance Taylor
2008
Current Financial Crisis in the EU (in German)
Reforming the Financial Markets: What the West Should do
German Spiegel-online
November 18, 2008
After Hubris, Smoke and Mirrors, The Downward Spiral: Financial and real markets pull each other down; how can policy reverse this?
Edward Nell and Willi Semmler
Forthcoming in Constellations
May 4, 2009
Questions and comments should be directed to scepa@newschool.edu.
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