Book Launch: "On the Trail of Capital Flight from Africa: The Takers and the Enablers" by Leonce Ndikumana and James K. Boyce

Book Launch Event, "On the Trail of Capital Flight from Africa: The Takers and the Enablers" by Leonce Ndikumana and James K. Boyce will take place on March 25th, at 3:00pm ET in the Gordon Hall conference room.  The launch seminar will be chaired by Distinguished Professor and Co-Director of PERI, Robert Pollin and it will be hybrid – face to face with remote connection on zoom. On the Trail of Capital Flight from Africa investigates the dynamics of capital flight from Angola, Côte d'Ivoire, and South Africa, countries that have witnessed large-scale illicit financial outflows in recent decades. Quantitative, qualitative, and institutional analysis for each country is used to examine the modus operandi of capital flight; that is, the 'who', 'how', and 'where' dimensions of the phenomenon. 'Who' refers to major domestic and foreign players; 'how' refers to mechanisms of capital acquisition, transfer, and concealment; and 'where' refers to the destinations of capital flight and the transactions involved. The Zoom link will be posted a few days before the event. 

Michael Ash Contributes to Climate Justice Report

Professor Michael Ash of the UMass Amherst School of Public Policy and Department of Economics is part of an interdisciplinary team from UMass and Tufts University researching social justice in federal flood mitigation funding. The team of faculty members and undergraduate researchers, led by UMass finance professor Mila Getmansky Sherman and Tufts civil and environmental engineering professor Deborah Sunter, reported their research in December at the fall online meeting of the American Geophysical Union. Read More...

Ina Ganguli Appointed to the Board of Committee on the Status of Women in the Economics Profession

Ina Ganguli, Associate Professor of Economics and Associate Director of the UMass Computational Social Science Institute has been appointed to the board of CSWEP (Committee on the Status of Women in the Economics Profession). A standing committee of the American Economic Association since 1971, the Committee on the Status of Women in the Economics Profession (CSWEP) serves professional women economists by monitoring their progress and promoting their careers. Read more...

James Boyce paper co-authored with alums Klara Zwickl and Simon Sturn "Effects of Carbon Mitigation on Co-pollutants at Industrial Facilities in Europe" wins the Energy Journal Best Paper Award for 2021

Umass Professor Emeritus James Boyce paper "Effects of Carbon Mitigation on Co-pollutants at Industrial Facilities in Europe" co-authored with Klara Zwickl and Simon Sturn both of whom received their PhDs in economics at UMass has won the Energy Journal Best Paper Award for 2021. Every year the International Association for Energy Economics (IAEE) awards a best paper award for the best paper in the six regular issues of The Energy Journal (the Campell Watkins The Energy Journal Best Paper Award). The award will be presented to them at the IAEE International conference in Tokyo Japan, July 31 – August 3, 2022.

Katherine A. Moos Receives the Helen Potter Award

Katherine A. Moos received the Helen Potter Award for her paper “The Historical Evolution of the Cost of Social Reproduction in the United States, 1959-2012.” Each year the Association for Social Economics (ASE) awards the Helen Potter Award for the best article in the Review of Social Economy by a promising scholar of social economics.   In her paper, Moos uses data from the US Bureau of Economic Analysis (BEA) National Income and Product Accounts (NIPA)—including a BEA satellite account that imputes monetary values for unwaged household production—to propose a feminist, class-based framework for estimating the annual cost of social reproduction in the United States from 1959 to 2012. The key finding is that the cost of socially reproducing the US working class has risen relative to the cost of employing the US working class, implying that employers are paying for a decreasing proportion of the total societal cost of social reproduction. These results are discussed in relationship to growing income inequality and the contradictory role of the US state in the neoliberal era.

Mateo Hoyos López Paper Featured in Phenomenal World

According to a survey on free trade from the University of Chicago, economists overwhelmingly agree that the net effects of free trade are good. A recent article by several IMF economists affirms that, “perhaps more than on any other issue, there is agreement among economists that international trade should be free.” Free trade is said to enhance efficiency in all participating countries, which can lead to higher productivity and higher rates of economic growth. These higher growth rates can, in turn, raise living standards and therefore represent a desirable policy target—particularly for developing countries. Read more...

Léonce Ndikumana: "COP26: How to Pay the Rich Nations’ Climate Debt"

For once, most of the debtors are not in Africa, but in the North. I am not talking money, but about climate debt, as natural disasters are multiplying and the fight against climate change has become an existential issue.  Since industrialized countries have used the available atmospheric space to develop and get rich by exploiting fossil fuels, the United Nations Climate Change Conference (COP26) — that is coming to end in Glasgow right now — must be an opportunity to recognize this climate debt to Africa, and to developing countries in general, and to honor it. Read More...

Jayati Ghosh in Social Europe: "The Feminist Building-Blocks of a Just, Sustainable Economy"

Feminist economists have long argued that the purpose of an economy is to support the survival and flourishing of life, in all its forms. This may seem obvious but it turns on its head the prevailing view, which implicitly assumes the opposite causation: the economy runs according to its own laws, which must be respected by mere human actors. In this market-fundamentalist perspective, it is a potential angry god which can deliver prosperity or devastation and must be placated through all sorts of measures—including sacrifices made in its name.  
Yet the economy, its markets and its various institutional forms are human creations, which can also be revised and reshaped according to democratic will. That means economic policies can and should be aligned with social and environmental goals.
Read article...

Lenore Palladino in Ms Magazine: "Trickle-Up Economics: The Macroeconomic Impact of Investing in Care Work"

The Biden-Harris administration’s proposed investment in care infrastructure would benefit caregivers, those who receive care—and the country’s bottom line. Investing in the U.S. care infrastructure as outlined in the Biden-Harris administration’s “Build Back Better” proposals will have tremendous economic benefits—but not just in the ways you might think. The case for investing in the care workforce is usually framed around the important benefits to family caregivers (who are predominantly women) and those who receive care (children, older adults and people with health issues that require long-term care). The macroeconomic benefit isn’t often discussed. Read the full article.

UMass Faculty in the New Yorker "Is It Time for a New Economics Curriculum"?

Faculty members at the Department of Economics have spearheaded efforts to transform the way economics is taught. Samuel Bowles, Professor Emeritus, has been at the forefront of these efforts, together with other UMass Economics faculty members, graduate students, and colleagues from other institutions – including Columbia University, University College London, Oxford University, and others. Recently, this exciting initiative was the subject of an article in New Yorker magazine – “Is It Time for a New Economics Curriculum?” Read the article.