Institute for New Economic Thinking
 | |
| Formation | October 2009 |
|---|---|
| Founder | James Balsillie, William H. Janeway, George Soros, Robert Johnson |
| Type | Think tank |
| Legal status | 501(c)(3) research and education nonprofit organization |
| Headquarters | New York City, United States |
| Fields | Macroeconomic and Post-Keynesian theory and policy |
President | Robert Johnson |
Chairman of the Governing Board | Rohinton P. Medhora |
| Affiliations | University of Cambridge |
| Revenue | $6,229,081[1] (2017) |
| Expenses | $14,841,294[1] (2017) |
| Website | ineteconomics |
The Institute for New Economic Thinking (INET) is a New York City–based nonprofit think tank. It was founded in October 2009 as a result of the Great Recession, and runs a variety of affiliated programs at major universities such as the Cambridge-INET Institute at the University of Cambridge. It also has offices in London, England.[2]
History
[edit]INET was founded with an initial pledge of $50 million from businessman and philanthropist George Soros.[3] William Janeway, James Balsillie and George Soros were co-founders. William Janeway and James Balsillie were co-founders.[4] It was launched at the Cambridge King's College as a tribute to John Maynard Keynes who is part of its alumni.[5]
Affiliates
[edit]In November 2010, INET announced that about $7 million would be provided for the inaugural round of grants. Another four task groups that were led by INET advisory board members were awarded more than $3 million in grants in 2010.[6] One of the four grants was awarded to Steven Pincus of Yale University and James Robinson of Harvard University in order to research the events leading up to the British Industrial Revolution.[7]
In 2011, $4 million in grants from INET and the Centre for International Governance Innovation (CIGI) was divided between 29 recipients.[8]
The Institute has disbursed approximately $4 million annually in research grants to students and professors. The Cambridge-INET Institute (co-funded with William H. Janeway) established an advanced institute for economic thinking at the University of Cambridge, The Cambridge-INET Institute was endowed witha $3.75 million grant from INET that was matched with an additional $3.75 million grant from the Keynes Fund for Applied Economics, Isaac Newton Trust, Mohammed El Erian, the Cambridge Endowment for Research in Finance, and the University of Cambridge Faculty of Economics.[9][10][11] Professor Sanjeev Goyal held the position of inaugural director of Cambridge-INET.[9]
In January 2011, the INET partnered with the Centre for International Governance Innovation to support research in economic theory and innovative projects.[12] On 1 August 2021, the Cambridge-INET moved and became a part of the Faculty of Economics at the new Janeway Institute Cambridge.[13]
Similar collaborations exist with the INET at the Institute for New Economic Thinking at the Oxford Martin School, which was co-funded by James Martin in 2012,[14][15] as well as the INET Center on Imperfect Knowledge Economics (IKE) at the University of Copenhagen.[16] INET Oxford works with scholars from the University of Oxford as well as the Saïd Business School, the Department of International Development, the Department of Mathematics and the Department of Economics.[17][18]
In November 2013, INET provided a $250,000 grant to the University College London for the establishment of its Center for the Study of Decision-Making Uncertainty. It also agreed to fund 50% on top of the total raised for the Center from other donors.[19]
Programs and projects
[edit]Research programs supported by INET include:
- INET Grant program to support researchers who challenge economic orthodoxy and help develop new paradigms in the discipline.[6]
- Lecture series with economists and thinkers including Michael Sandel, William Janeway, Perry Mehrling, and others[20]
- The Human Capital and Economic Opportunity Global Working Group, headed by James Heckman, is affiliated with the Becker Friedman Institute for Research in Economics at University of Chicago.[21]
- INET Young Scholars Initiative (YSI)[22] which was created in 2012 at INET’s "Paradigm Lost" conference in Berlin.[23]
Leadership
[edit]The executive director is Robert Johnson, former managing director at the hedge funds Soros Fund Management and Moore Capital Management.[24]
See also
[edit]References
[edit]- ^ a b "The Institute for New Economic Thinking Inc" (PDF). 990s.foundationcenter.org. 11 December 2018. Archived (PDF) from the original on 19 February 2022. Retrieved 26 November 2019.
- ^ "Lord Turner to join Soros-funded think tank". BBC News. 2013-04-01. Retrieved 2025-04-09.
- ^ Gates, Philip (17 October 2017). "Ten things you need to know about the Institute for New Economic Thinking and why it's heading to Edinburgh". Insider.co.uk. Archived from the original on 2 December 2020. Retrieved 23 September 2020.
- ^ Scanlon, Hunt (2015-09-08). "Rosenzweig Co. Completes Search for INET". Hunt Scanlon Media. Retrieved 2025-03-31.
- ^ "The Institute for New Economic Thinking". Adam Smith Institute. Retrieved 2025-03-31.
- ^ a b Candid. "Institute for New Economic Thinking Announces Inaugural Grants". Philanthropy News Digest (PND). Retrieved 2025-04-09.
- ^ harvardgazette (2010-11-12). "Harvard professor INET grant recipient". Harvard Gazette. Retrieved 2025-04-09.
- ^ Kelly, Declan. "Five Canadians among recipients of $4M in CIGI-INET research grants". Centre for International Governance Innovation. Retrieved 2025-04-09.
- ^ a b Nagri, Idris (2013-02-07). "Cambridge University Forms Partnership with New York Economic Institute". The Global Treasurer. Retrieved 2025-04-14.
- ^ "About the Institute". The Cambridge-INET Institute. 2 August 2018. Archived from the original on 22 September 2020. Retrieved 23 September 2020.
- ^ "About the Institute". www.inet.econ.cam.ac.uk. 2018-08-02. Retrieved 2025-04-14.
- ^ "Partnership with the Institute for New Economic Thinking (INET)". CIGI. Archived from the original on 2020-09-27. Retrieved 2020-09-23.
- ^ "Cambridge-INET Becomes the Janeway Institute | The Weslie and William Janeway Institute for Economics". www.janeway.econ.cam.ac.uk. Retrieved 2025-04-23.
- ^ "INET Oxford". Oxford Martin School. Retrieved 2025-04-23.
- ^ "Institute for New Economic Thinking (INET) - Mapping the Humanities". www.humanities.org.uk. Retrieved 2025-04-23.
- ^ "INET-Oxford Martin". Oxford Martin. Archived from the original on 2020-09-24. Retrieved 2020-09-23.
- ^ "INET Oxford". Oxford Martin School. Retrieved 2025-04-23.
- ^ "Leadership | Saïd Business School". www.sbs.ox.ac.uk. 2025-03-28. Retrieved 2025-04-23.
- ^ UCL (2013-11-12). "New UCL Centre for study of Decision-Making Uncertainty announced". UCL News. Retrieved 2025-05-02.
- ^ Varathan, Preeti (25 April 2018). "Should you be able to pay to join a "dwarf-tossing" game?". Qz.com. Archived from the original on 12 April 2022. Retrieved 15 February 2022.
- ^ "The Human Capital and Economic opportunity Global Working Group". The University of Chicago. 27 December 2011. Archived from the original on 28 December 2023. Retrieved 28 December 2012.
- ^ "Inclusive Development: Role of Employment and Environment | INET-YSI and IPP, NLSIU Conference". National Law School of India University. Retrieved 2025-05-02.
- ^ "INET's Young Scholars Initiative Convenes; Soros Addresses Group | Central European University". www.ceu.edu. Retrieved 2025-05-02.
- ^ Irwin, Neil (29 July 2010). "A crossroads for the U.S. economy". The Washington Post. Archived from the original on 11 November 2012. Retrieved 27 January 2011.
