The Institute for New Economic Thinking (INET) is a

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

–based nonprofit

think tank A think tank, or public policy institute, is a research institute that performs research and advocacy concerning topics such as social policy, political strategy, economics, military, technology, and culture. Most think tanks are non-governme ...

. It was founded in October 2009 as a result of the

Great Recession The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009.

, and runs a variety of affiliated programs at major universities such as the Cambridge-INET Institute at the

University of Cambridge The University of Cambridge is a Public university, public collegiate university, collegiate research university in Cambridge, England. Founded in 1209, the University of Cambridge is the List of oldest universities in continuous operation, wo ...

. It also has offices in

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, England.

History

INET was founded with an initial pledge of $50 million from businessman and philanthropist

George Soros George Soros (born György Schwartz; August 12, 1930) is an American investor and philanthropist. , he has a net worth of US$7.2 billion, Note that this site is updated daily. having donated more than $32 billion to the Open Society Foundat ...

. William Janeway, James Balsillie and George Soros were co-founders. William Janeway and

James Balsillie James Laurence Balsillie (born February 3, 1961) is a Canadian businessman and philanthropist. He was the former chair and co-chief executive officer of the Canadian technology company BlackBerry Limited, Research In Motion (BlackBerry Limited, ...

were co-founders. It was launched at the Cambridge King's College as a tribute to

John Maynard Keynes John Maynard Keynes, 1st Baron Keynes ( ; 5 June 1883 – 21 April 1946), was an English economist and philosopher whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originall ...

who is part of its alumni.

Affiliates

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. One of the four grants was awarded to Steven Pincus of

Yale University Yale University is a Private university, private Ivy League research university in New Haven, Connecticut, United States. Founded in 1701, Yale is the List of Colonial Colleges, third-oldest institution of higher education in the United Stat ...

and James Robinson of

Harvard University Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the History of the Puritans in North America, Puritan clergyma ...

in order to research the events leading up to the British Industrial Revolution. In 2011, $4 million in grants from INET and the

Centre for International Governance Innovation The Centre for International Governance Innovation (CIGI, pronounced "see-jee") is an independent, non-partisan think tank on global governance. CIGI supports research, forms networks, advances policy debate and generates ideas for multilateral g ...

(CIGI) was divided between 29 recipients. 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

, 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

Faculty of Economics. Professor Sanjeev Goyal held the position of inaugural director of Cambridge-INET. In January 2011, the INET partnered with the Centre for International Governance Innovation to support research in economic theory and innovative projects. On 1 August 2021, the Cambridge-INET moved and became a part of the Faculty of Economics at the new Janeway Institute Cambridge. 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, as well as the INET Center on Imperfect Knowledge Economics (IKE) at the

University of Copenhagen The University of Copenhagen (, KU) is a public university, public research university in Copenhagen, Copenhagen, Denmark. Founded in 1479, the University of Copenhagen is the second-oldest university in Scandinavia, after Uppsala University. ...

. 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. In November 2013, INET provided a $250,000 grant to the

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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.

Programs and projects

Research programs supported by INET include: * INET Grant program to support researchers who challenge economic orthodoxy and help develop new paradigms in the discipline. *Lecture series with economists and thinkers including

Michael Sandel Michael Joseph Sandel (; born March 5, 1953) is an American political philosopher and the Anne T. and Robert M. Bass Professor of Government at Harvard University, where his course ''Justice'' was the university's first course to be made fre ...

, William Janeway, Perry Mehrling, and others * The ''Human Capital and Economic Opportunity Global Working Group'', headed by James Heckman, is affiliated with the

Becker Friedman Institute for Research in Economics The Gary Becker Milton Friedman Institute for Research in Economics is a collaborative, cross-disciplinary center for research in economics. The institute was established at the University of Chicago in June 2011. It brought together the activi ...

University of Chicago The University of Chicago (UChicago, Chicago, or UChi) is a Private university, private research university in Chicago, Illinois, United States. Its main campus is in the Hyde Park, Chicago, Hyde Park neighborhood on Chicago's South Side, Chic ...

. * INET Young Scholars Initiative (YSI) which was created in 2012 at INET’s "Paradigm Lost" conference in

Berlin Berlin ( ; ) is the Capital of Germany, capital and largest city of Germany, by both area and List of cities in Germany by population, population. With 3.7 million inhabitants, it has the List of cities in the European Union by population withi ...

Leadership

The executive director is

Robert Johnson Robert Leroy Johnson (May 8, 1911August 16, 1938) was an American blues musician and songwriter. His singing, guitar playing and songwriting on his landmark 1936 and 1937 recordings have influenced later generations of musicians. Although his r ...

, former managing director at the

hedge funds A hedge fund is a pooled investment fund that holds liquid assets and that makes use of complex trading and risk management techniques to aim to improve investment performance and insulate returns from market risk. Among these portfolio techniq ...

Soros Fund Management Soros Fund Management is a privately held American investment management firm. It is currently structured as a family office, but formerly was a hedge fund. The firm was founded in 1970 by George Soros and, in 2010, was reported to be one of th ...

and Moore Capital Management.

References

External links