In the next installment of its Capitol Hill Series, the Levy Economics Institute of Bard College is partnering with Americans for Financial Reform Education Fund to convene a discussion in...more

Global trust in the US and its almighty dollar seems to be in question, with some nations scrambling to create alternative payment systems to compete with it. Some believe it...more

This paper summarizes and compares the approaches of Marx and Keynes to the theory of effective demand and places it within the monetary theory of production. While their techniques differed...more

An Appreciation of Levy Institute Research Associate Lekha Chakraborty’s “Gender Budgeting: That Fire in My Belly” in Women in Public Finance: Stories of Gender in Budgeting, ed. Maja Bosnić and Manal...

“On Tuesday, the New York Fed will release its monthly Survey of Consumer Expectations. It’ll provide some of the data points the central bank’s Open Market Committee will use to...more

Pavlina Tcherneva checked in with Ian Masters of Background Briefing for a far-ranging conversation that begins with Fed Chair Warsh’s keynote at Jackson Hole and Treasury Secretary Bessent’s recent i...

Bobby Kogan and Jared Bernstein’s new report for the Center for American Progress, on  “Why the National Debt Matters More than It Used to …”, does not cite my 2011...more

Over the next few decades humanity and countries around the world will be facing three major challenges. First, artificial intelligence will fundamentally reshape work and greatly impact employment an...

The Global Financial Crisis of 2008–9 provided a critical watershed in the evolving global economic rebalancing and re-shifting towards China and Asia. The era of unchallenged US hegemony and “hypergl...

The 2008 financial crisis and the COVID-19 pandemic are widely understood as moments that discredited neoliberal orthodoxy and some have even declared it dead. This paper argues that, to the...more

A response to Paul Krugman's recent essay on U.S. and European productivity opens onto a broader question. If the standard metrics point in conflicting directions, perhaps the problem lies less with t...

The Levy Economics Institute Graduate Programs in Economic Theory and Policy were created to offer students an alternative to mainstream programs in economic...

Levy Institute President Pavlina R. Tcherneva is among over 350 distinguished signatories endorsing the new United Nations “Roadmap for Eradicating Poverty Beyond Growth.” This ambitious plan, spearhe...

Remarks delivered at the University of Athens, June 8, 2026, on occasion of the award of a PhD honoris causa. James K. Galbraith holds the Lloyd M. Bentsen, Jr. Chair in Government/Business Relations ...

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Update: The OP-ED was published by The Guardian and Le Monde on Wednesday 10 June, and in El País on 11 June. We welcome additional signatures. Dear friends and colleagues, Please find the op-ed below...

With the consumer price index running at 3.8% — and expected to rise further when new data drops Wednesday — purchasing power is eroding.

As the New York Times reported, With the labor market on firmer footing than just a couple of months ago, more Fed officials have embraced the possibility that rates may need to rise to get inflation ...

This is the text of a presentation delivered at the Levy Institute’s 40th Anniversary conference (https://www.levyinstitute.org/events/event/levy-economics-institute-anniversary-conference/); a much l...

Levy Scholars Claudio H. Dos Santos, Gennaro Zezza, and Michalis Nikiforos sit down in this episode to discuss the life and legacy of one of the Institute's Distinguished Scholars, Wynne Godley (1926-...

Although remaining controversial and in its infancy, the “greening” of monetary policy and financial regulation is spreading. Such an environmental turn appears as a key channel to reform capitalism, ...