Keynes versus the Keynesians

Crotty Hall, Economics DepartmentWhat drives economic growth and stagnation? What types of methodologies and tools do we need to accurately explain economic epochs in the past and present? What models and policy approaches can lead to prosperity for all? These questions occupied the mind of John Maynard Keynes from World War One until his death in 1946.

Vamsi Vakulabharanam co-authors op-ed in The Wire on India's Latest Election

What Did India Really Vote For?: Did the BJP/NDA secure a mandate to refashion India along the lines of Hindu-majoritarian nationalism? The answer has to be negative given the evidence.

The recently concluded election produced a puzzling outcome. During the tenure of the National Democratic Alliance government (NDA-II), the Indian economy significantly under-performed, heightening the distress of millions of farmers, raising unemployment and increasing the insecurity of workers in the informal sector. Read more...

Distinguished Professor Robert N. Pollin Comments in Vice

The Radical Plan to Save the Planet: The degrowth movement wants to intentionally shrink the economy to address climate change, and create lives with less stuff, less work, and better well-being. But is it a utopian fantasy?

In 1972, a team at MIT published The Limits to Growth, a report that predicted what would happen to human civilization as the economy and population continued to grow. What their computer simulation found was pretty straightforward: On a planet of finite resources, infinite exponential growth isn’t possible. Eventually, non-renewable resources, like oil, would run out. Read more...

UMass Magazine Spotlights Professor Léonce Ndikumana in "From Africa, For Africa"


FROM AFRICA, FOR AFRICA:  BORN POOR IN BURUNDI, PROFESSOR LÉONCE NDIKUMANA EXPOSES THE INTERNATIONAL EXPLOITATION OF SUB-SAHARAN AFRICA.

The economic ransacking of Sub-Saharan Africa by foreign nations and viciously corrupt internal forces began centuries ago and goes on unabated. Global economic structural factors, abetted by complicit domestic policies, ensure a relentless outflow of capital from African nations and make it difficult for them to raise development financing. Read more....

UMass Economics in the News

A news story on how the debate over raising the federal minimum wage has shifted over time cites research published this year by a team of economists that includes Arindrajit Dube and Doruk Cengiz, economics. The study found local effects of more than 130 minimum-wage increases since 1979 where the decrease in jobs paying less than the minimum wage was fully offset by an increase in jobs paying just more than the new wage rate. The story also mentions other research Dube has done on the minimum wage and how it affects the job market. (Washington Post, 7/8/19)

A new study co-authored by Lawrence P. King, economics, finds that falling incomes and rising incarceration rates at the county level in the U.S. are linked to an increase in drug-related deaths. “If we’re incarcerating people because we don’t like the negative effects of drugs, what this study shows is it’s counterproductive,” King says. (WRAL.com [from CNN; Science Codex, 7/3/19)