Institute for New Economic Thinking

The Institute for New Economic Thinking (INET ) was founded in the end of October 2009 in order to develop new approaches to economics after the financial crisis. The head of the think tank is New York. It is planned in various countries "outposts " of the INET to found, they should cooperate closely with universities. Managing Director of INET Institute is the economist Robert Johnson, former managing director of the hedge fund Soros Fund Management.

Objectives

The Institute will award research grants, organizing symposia and published a magazine. It is a matter of finding new paradigms and to shake the " market fundamentalist consensus " of economics.

History

In January 2009, Anatole Kaletsky, Roman Frydman and George Soros talked about the need to create a new consensus in the economy after the financial crisis. Twenty-five economists, journalists and financial investors met in September in Bedford, NY, where she also discussed the topic. The establishment of the INET was then in October 2009. Executive director was Robert Johnson. In November, an advisory board was established.

Co-founder include the Nobel Prize winner George Akerlof, Sir James Mirrlees, A. Michael Spence and Joseph Stiglitz. Other members of the founding Advisory Board are Jeffrey Sachs, Willem Buiter, Markus K. Brunner Meier, Robert Dugger, Duncan Foley, Thomas Ferguson, Roman Frydman, Ian Goldin, Charles Goodhart, Anatole Kaletsky, John Kay, Axel Leijonhufvud, Perry multiple, YV Reddy, Kenneth Rogoff, John Shattuck, William R. White and Yu Yongding. George Soros supports the project inception with 50 million U.S. dollars. Other donors were Jim Balsillie and William Janeway. A total of 200 million U.S. dollars came together.

Major conferences there was in April 2010 at Cambridge University with the title: "The Economic Crisis and the Crisis in Economics". In April 2011, a conference in Bretton Woods, New Hampshire followed on the theme: " Crisis and Renewal: International Political Economy at the Crossroads ." The third conference was in April 2012 in Berlin on the topic: " Paradigm Lost: Rethinking Economics and Politics " and the fourth conference in April 2013 in Hong Kong on the topic: " The Changing of the Guard ".