person location

Big Banks Claim Reform Will Hurt the Economy. Here's Why That's Bullsh*t.

Anat Admati, who teaches finance and economics at the Stanford Graduate School of Business, is co-author of The Bankers' New Clothes, a classic account of the problem of Too Big to Fail banks. On May 6th she will address the “Finance and Society” conference sponsored by the Institute for New Economic Thinking, featuring influential women who have challenged the status quo, like Federal Reserve Chair Janet Yellen, IMF Managing Director Christine LaGarde, and Senator Elizabeth Warren. Admati will join Brooksley Born, former chair of Chair of the Commodities Futures Trading Commission, to discuss how effective financial regulation can make the system work better for society. Seven years after financial hell broke loose, Admati warns that we are far from fixing a bloated and dangerous financial system —and that the system can’t fix itself. Why should you care? This gigantic house of cards could fall on you.

Keep reading...Show less

How Globalization Is Making Human Life Miserable

In the naughts, British-born novelist and author Rana Dasgupta was thrilled to call Delhi his home. The city was still buzzing with possibility after India’s 1991 entry into the world of market-driven capitalism. Today, he raises concerns that India’s economic rise has come with massive inequality, environmental destruction and potential social unrest. In Part 2 of an interview with the Institute for New Economic Thinking, Dasgupta shares his view of the contradictions and tensions of India’s economic and political scenes. What does it mean that pro-business Hindu nationalist Narendra Modi was elected prime minister in 2014, while Arvind Kejriwal, a firebrand social activist who speaks for the poor, easily won a second term to lead the nation’s capital in Delhi? How does India’s warlike capitalism co-exist with its deeply democratic spirit? What are the biggest challenges for India going forward?

Keep reading...Show less

When Capitalism Becomes an Act of War

Novelist Rana Dasgupta recently turned to nonfiction to explore the explosive social and economic changes in Delhi starting in 1991, when India launched a series of transformative economic reforms. In Capital: The Eruption of Delhi, he describes a city where the epic hopes of globalization have dimmed in the face of a sterner, more elitist world. In Part 1 of an interview with the Institute for New Economic Thinking, Dasgupta traces a turbulent time in which traditional ways of life are dissolving as a new class of entrepreneur-warriors are wielding unprecedented power — and changing the global landscape.

Keep reading...Show less

Americans Turning Away From Organized Religion in Record Numbers

With fire-breathing religion figuring anew in global conflicts, and political discussions at home often dominated by the nuttery of the Christian right, you might get the sense that somebody’s god is ready to mug you around every street corner. But if you’re the type who doesn’t like to hang your hat on organized religion, here’s a bit of good news: in America, your numbers are growing.

Keep reading...Show less

The Country That Refuses to Bow Down to Western Bankers

Mario Seccareccia, a professor of economics at the University of Ottawa, has been outspoken in his warnings that austerity policies have the potential to smash economies and spread human misery. In his work supported by the Institute for New Economic Thinking and elsewhere, he has challenged deficit hawks and emphasized the need for strong government investment in things like jobs, education, healthcare, and infrastructure if economies are to prosper. In the following interview, he talks about why what happened to Greece was entirely predictable, why the Greeks were right to reject austerity in the recent election, and what challenges the country faces in forging a sustainable path forward with the left-wing Syriza party at the helm.

Keep reading...Show less

8 Facts About Dr. Martin Luther King Jr. That Will Surprise You

One could make the case that the Reverend Dr. Martin Luther King Jr. was the most significant American of the 20th century. He is only the third American whose birthday is commemorated as a federal holiday, a distinction not even granted Ben Franklin, Thomas Jefferson, or FDR. Although King is one of U.S. history's most widely chronicled individuals, there are aspects of his life that are less well-known than the pivotal speeches, the campaigns against Jim Crow city halls from Montgomery in 1955 to Memphis in 1968, and the dalliances that for some, tainted his personal life. King was as complex a figure as exists in our social narrative. He was a man conflicted by his commitment to a movement into which he was drafted against his better judgement and by the overwhelming demands to fulfill the role of human rights spokesperson. He was a husband and father who belonged to a people and a revolution, and the nation's most prominent advocate of nonviolence at a time when violence burned on urban streets, college campuses and in Southeast Asia.

Keep reading...Show less

5 Signs the American Economy May Be on Shakier Ground Than You Think

Lots of people are cheering that the U.S. economy has shown signs of strengthening. The stock market looks to be doing better than anyone expected, and unemployment is under 6 percent. But are things really as good as they seem? We are a bit skeptical. Let’s take a look at some signs that things are not altogether well in the American economy.

Keep reading...Show less

How Flawed Economics Turned Europe into the Hunger Games

A nasty strain of austerity capitalism has taken over Europe, leaving broken lives in its wake. Researchers Servaas Storm and C.W.M. Naastepad, senior lecturers in economics at Delft University of Technology in the Netherlands, consider how things got so bad, what role economists and misguided policy-makers have played, and how to change course. According to them, most everybody is getting the story about Europe dead wrong. In the following interview, they discuss findings which show that when countries try to compete with each other by lowering wages and slashing the social safety net, the costs are high both economically and socially. Cooperative and regulated capitalism, they argue, is a far better path. (For more, see “Europe’s Hunger Games: Income Distribution, Cost Competitiveness and Crisis,” published in the Cambridge Journal of Economics, and “Crisis and Recovery in the German Economy: The Real Lessons,” part of the Institute for New Economic Thinking’s project on the Political Economy of Distribution.) 

Keep reading...Show less

The Brutal Truth About How Childhood Determines Your Economic Destiny

"Give me the child until he is seven," the old Jesuit teachers say, "and I will give you the man."

Keep reading...Show less

Are You a Highly Sensitive Person? What You Need to Know About the Science of This Personality Type

Psychologist Elaine Aron has pioneered the study of a category of human personality that is generating considerable buzz both in the media and in the scientific community: the highly sensitive person (HSP). People in this group look the same as everyone else, but they don’t respond to the world the same. The way they think, work, feel, and even love is distinctive. Tendencies like acute awareness of emotions, heightened response to loud noises and other stimuli, and the deep processing of information are all things that set HSPs apart.

Keep reading...Show less
@2026 - AlterNet Media Inc. All Rights Reserved. - "Poynter" fonts provided by fontsempire.com.