Dear Colleagues and Friends of the Levy Economics Institute: After thirty-eight years as Executive Director and President of the Levy Institute, the time has come to pass the baton to the new generation. My successor, effective July 1st, will be Pavlina Tcherneva, Professor of Economics at Bard College and Research Scholar for many years at the Levy Institute—a distinguished economist with significant contributions to macroeconomics, the job guarantee, and MMT. I can think of no one better than Pavlina to lead the Levy Institute into its next phase of development in exploring solutions to the economic challenges that lie ahead. She is passionate about research and an excellent and effective teacher. It was in the fall of 1986, but it seems only yesterday that I opened the first conference, celebrating the work of Nicholas Kaldor, that marked the beginning of the Levy Institute, encouraged by the peerless and admirable foresight of Leon Levy who made it all possible. His wise counsel, vision, and keen insight about the US economy, drawn from discussions with his father, Jerome, became the driving force of all the Institute has accomplished thus far. The foundations built on the work of Hyman Minsky and Wynne Godley have stood firm all these years and will continue to do so with the new leader of the Levy Institute as she begins a new chapter. Almost four decades later, I am indeed proud of what my research colleagues and I have accomplished. We have reinvigorated the economics of heterodoxy with our contributions to macroeconomics in theory, modeling, and policy, both fiscal and monetary, targeting financial and economic stability for the US economy and the rest of the world. We have developed a distinct research program on the distribution of income and wealth and invented two measures of economic well-being (LIMEW) and time and income poverty (LIMTIP) that, by some indications, might help to change official measures of living standards in the years ahead. We are one of the very few institutions with a focus on gender equality and the economy, developing measures and methodologies which enable research to remove long-standing shortcomings—if not distortions—by placing the links between paid and unpaid work at centerstage. This year marks a decade of our graduate programs offering MA and MS degrees in Economic Theory and Policy, with our graduates playing significant roles in economic think tanks, international organizations, governments, and the world of finance. Serving the Levy Institute as president has been an intellectually stimulating and gratifying experience. There is nothing in my professional life that has given me greater satisfaction. I will, of course, remain at the Institute as president emeritus and active senior scholar, devoting more time to teaching, research, and writing. I am grateful to the Levy family, Bard College president Leon Botstein, the Trustees of Bard College for their support of all these years, and all my colleagues, especially those who have worked closely with me. My sincere thanks go to all our research associates for their willingness to contribute their talents to the Institute’s success and to the small and effective staff of the Institute.   Best regards, Dimitri B. Papadimitriou Our Website | Press Room | Donate Levy Economics Institute | 30 Campus Rd | Annandale-On-Hudson, NY 12504 US Unsubscribe | Update Profile | Constant Contact Data Notice