| Announcing the Levy Economics Institute Summer Seminar
The Levy Economics Institute of Bard College is pleased to announce it will be holding a summer seminar June 11–June 18, 2022. Through lectures, hands-on workshops, and breakout groups, the seminar will provide an opportunity to engage with the theory and policy of Modern Money Theory (MMT) and the work of Institute Distinguished Scholars Hyman Minsky and Wynne Godley. Intended for those who are introducing themselves to these approaches as well as those who are looking to deepen their understanding, the seminar will be of particular interest to graduate students, recent graduates, and those at the beginning of their academic or professional careers.
The seminar will be limited to 60 attendees. For more information, including a preliminary list of speakers and instructions on how to apply, please visit the conference website. |
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Policy Note 2021/4, November 2021
Vlassis Missos, Nikolaos Rodousakis, and George Soklis
Vlassis Missos, Research Associate Nikolaos Rodousakis, and George Soklis examine the pandemic’s impact on tourism in Greece and emphasize the significance of tourism revenues for that country’s recovery. They explain how the distributional effects of the tourism sector play a significant role in overall income inequality in Greece and develop policy recommendations aiming to correct some of the problematic aspects of the sector.
Read complete text (pdf) |
One-Pager No. 68, November 2021
L. Randall Wray
With respect to the fiscal capabilities of the US federal government, affordability and solvency concerns can be laid to rest, L. Randall Wray explains. The question is never whether the federal government can spend more, but whether it should. Moreover, despite strongly held beliefs about the negative impacts of deficits and debt on inflation, interest rates, growth, and exchange rates, with two centuries of experience the evidence for these concerns is mixed at best, he argues.
Read complete text (pdf) |
Levy Graduate Programs in Economic Theory and Policy Now Accepting Students for Fall 2022 |
Backed by over 30 years of proven policy impact, the Levy Institute Graduate Programs in Economic Theory and Policy provide innovative approaches to topics such as time use, poverty, gender, student debt, and employment that other programs neglect, encouraging students to evaluate policies, examine behavior, and dig deeper into the social phenomena that underlie economic outcomes. Research from this year’s class focuses on diverse topics including the care economy and the social division of labor; the roots of migration crises in El Salvador; a stock-flow model for Germany; Latin America’s debt and the prospects of an alternate currency; wealth tax incidence in the United States; and unpaid labor in Nepal.
Along with a challenging academic environment, the Levy programs also offer a supporting and caring community where students benefit from sharing their research with faculty and their peers to promote academic exchanges and intellectual collaboration.
To find out more, visit bard.edu/levygrad or follow the program’s Facebook page.
Applications for fall 2022 are now open. Interested students should contact the program recruiter, Martha Tepepa ([email protected]), before the January 15, 2022 application deadline to discuss their options. Scholarships are available. |
The Levy Institute received a $300,000 federal contract to aid the US Department of Labor in its efforts to broaden how it measures the economic well-being of US households. Institute scholars Ajit Zacharias, Nancy Folbre, Thomas Masterson, and Fernando Rios-Avila will work with the Bureau of Labor Statistics to create an alternative measure of household consumption to generate a more complete picture of how households use the resources available to them to meet their needs, with the ultimate goal of publishing this more comprehensive measure of well-being alongside its current statistics.
In a review of the analysis put forward in Public Policy Brief No. 150, “The Impact of Technological Innovations on Money and Financial Markets,” Senior Scholar Jan Kregel discussed suggestions for prudential regulations on October 1 at “The Economics of Cryptocurrency” conference hosted by the Department of Economics and Business Sciences at Università degli Studi di Cagliari.
Senior Scholar L. Randall Wray participated in two sessions of the 2nd International European Modern Monetary Theory Conference 2021: Economic Policy in a Post-Pandemic World, with a lecture on the Green New Deal and a then as part of a panel discussion on inequality. On November 6th he discussed the Green New Deal with David Rosenberg for the KPFA Evening News and on November 16th he joined David Swanson on Talk World Radio to discuss the topic “Is Wall Street Taking Over Ownership of Nature?”
Research Scholar Luiza Nassif Pires testified at an online public hearing at the Chamber of Deputies of Brazil on November 30th. She discussed the importance of cash transfer programs in Brazil, with a focus on women of color, who were especially impacted by the COVID-19 crisis. On December 11th, she was interviewed for folha de São Paulo on her newest study with colleagues at MADE-USP, which shows that in Brazil, the top 1 percent of the adult white male population (705,000 individuals) takes home a larger share of income than all adult black women (33 million individuals).
In a new report for the Economic Policy Institute, Marokey Sawo (’20) and coauthors show that child care and home health care workers—a group consisting mainly of women and disproportionately Black, Hispanic, and Asian American/Pacific Islander (AAPI) women and immigrant women—are deeply undervalued and underpaid. The authors estimate what fair and equitable wages would look like in the care sectors and build a framework for thinking about how to achieve them.
Andrew Bunker (’19) coauthored a report for Action Aid USA on “IMF Surveillance and Climate Change Transition Risks: Reforming IMF policy advice to support a just energy transition.” This report, released amidst the overlapping global crises of the COVID-19 pandemic, the worsening climate crisis, and the widening inequality gap within and between countries, argues that current IMF policy advice undermines many countries’ ability to undertake a just energy transition, suggesting that the Fund reevaluate how its advice affects member countries’ vulnerabilities.
Levy scholars mourn the death of Geoff Harcourt, a prominent economist who made immeasurable contributions to the fields of capital theory and economic thought.
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