What really drives innovation—and who gets left behind in the process?
The best ideas may never make it to the patent office.
Inflationary Inertia as a Result of Unfulfilled Aspirations
How inflationary inertia, driven by distributional conflict, disrupts the economy’s path to an effective demand equilibrium.
The Case for a New Bretton Woods
How do we prepare for a world of constant shocks—climate disasters, financial crises, pandemics, conflict, and inequality?
Fred Ledley’s INET-Funded Research Remains in the Top 5% of all Research Monitored by Altmetric (≈28 million)
Altmetric
Fred Ledley's INET-funded research, which was published as an INET working paper, documents that the US Government is the first investor in practically all crucial biopharmaceutical innovation.
AI, Antitrust & Privacy
We typically view competition as a positive force that lowers prices, improves quality and service, and increases variety. However, competition can sometimes be toxic.
America’s Broken Union System
Union membership is at its lowest level in a century. Why, despite viral organizing campaigns at Amazon and Starbucks, has union density flatlined?
The Inflation Reduction Act’s Impact on Pharmaceutical Innovation: What Real Evidence Shows
Has the Inflation Reduction Act hindered pharmaceutical innovation? Evidence shows that the pharma industry can strategically manage disruptive change.
“How can you make sense of the future when you only have data about the past?”
--Clayton Christensen
Climate change, firms and aggregate productivity
Our paper uses a general equilibrium framework to examine the effects of temperature on firm-level demand, productivity and input allocative efficiency. Using data from Italian firms and detailed climate data, it uncovers a sizeable negative effect of extreme temperatures on firm-level productivity. Based on these estimates, the model generates aggregate productivity losses from local temperature fluctuations that are higher than previously thought, ranging from 0.60% to 6.82% depending on the scenario and the extent of adaptation.
Kalecki and the Stucturalist View of Economic Development
Kalecki challenged the structuralist view by pointing to the internal social class barriers to development, and the need to assure supplies of basic wage goods in order to avoid inflationary pressures that could derail the development process.
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