25th Annual Hyman P. Minsky Conference on the State of the US and the World Economy

Organized by the Levy Economics Institute of Bard College with support from the Ford Foundation

April 12-13, 2016
Annandale-on-Hudson, NY, USA

Rio Workshop for Financial Institutions for Innovation and Development

A MINDS's Partner Conference co-hosted by MINDS and co-sponsered by Ford Foundation 

May, 2016
Rio de Janeiro, Brazil.


MINDS' Take: More Heat than Light

Brazil is living its worst crisis since the thirties. Nobody knows who will be the President by the end of May, how much GDP will decrease, inflation and unemployment increase or how many US$ Dollars a Real will buy.  What we all know is that, right now, there is no happy ending in sight. Serious discussion is needed on how to build an institutional coalition able to back growth-oriented policies as well as launch the institutional (probably constitutional) reforms that will have to take place.

What we want to provide here is a compressed and, hopefully, non-ideological picture of Brazil’s evolution under the worker’s party tenure taking into account the global-local dynamic. This will lead us to provide a more nuanced background to the current debate. 

Read more.


MINDS' Recent Activities

MINDS' research team, headed by Dr. Leonardo Burlamaqui, was present in some events and activities organized by MINDS's partners late last year, like the Japan Conference for Financial Institutions for Innovation and Development, the 'Role of the State on the 21th Century' Conference organized by The Brazilian National School of Public Administration (Enap) and the Ministry of Planning, Budget and Management of Brazil and the IMK's 'Spectre of Stagnation? Europe in World Economy' Conference. Dr. Leonardo Burlamaqui also was invited to present a Seminar and to participate in a round table at SPRU - University of Sussex.

Read about the events here.

You can read Dr. Burlamaqui's Paper presented at Sussex here.


MINDS in the News

In the past few months, MINDS' Project Director and Research Fellow Felipe Rezende wrote a series of articles for one of the most influential economic newspaper in Brazil, Valor Econômico, and for The Multiplier Effect Blog.

Read Rezende's articles here.



Rethinking the Financial Crisis

Edited by Alan Blinder, Andrew Loh and Robert Solow

Some economic events are so major and unsettling that they “change everything.” Such is the case with the financial crisis that started in the summer of 2007 and is still a drag on the world economy. Yet enough time has now elapsed for economists to consider questions that run deeper than the usual focus on the immediate causes and consequences of the crisis. Edited by three world class- well know economists, this wide-ranging inquiry into the financial crash, Rethinking the Financial Crisis marshals an impressive collection of rigorous and yet empirically-relevant research that, in some respects, upsets the conventional wisdom about the crisis and also opens up new areas for exploration.

Regulating the Visible Hand? The Institutional Implications of Chinese State Capitalism

Edited by Benjamin Liebman and Curtis Milhaupt

Although China is by no means the world’s sole practitioner of state capitalism, it is arguably the most successful, and certainly the largest. The economic and geopolitical implications of China’s rise have been the subject of vast commentary. However, the institutional implications of China’s transformative development under state capitalism have not been examined in a comprehensive, in-depth study. This volume begins to close the gap by exploring the domestic and global implications of Chinese state capitalism in comparative perspective.

Real will buy.  What we all know is that there is no happy ending in sight. Serious discussion is needed on how to build an institutional coalition able to back growth-oriented policies as well as deep institutional (probably constitutional) reforms will have to take place.

The problem here is that these discussions are not happening. All parties and most political operators and media-economists are basically shouting at each other armed with basic accusations “corruption” versus “cup d’état” or “leftist policy naivetés” versus “imposing regressive policy agendas all over again”.

What is not happening is a balanced and informed discussion on the global-local dynamics that got us we we are and the use of a comparative perspective to analyze the country’s situation (for instance: a Debt/GDP ratio of 70% is “excessive” and “unmanageable”? According to the WB database, Japan is close to 240%, the US was 96.1% in 2014 , Belgium 99% in 2012 and the UK 96.6 in 2013).