Duncan Foley is Leo Model Professor of Economics at the New School for Social Research. He has taught at the Massachusetts Institute of Technology, Stanford University, Barnard College of Columbia University and published extensively in the fields of mathematical economics, Marxist economics, macroeconomics, monetary economics, the history of economic thought, economic distribution, stability,sustainability, and development. Lance Taylor and he are the 2015 recipients of the Leontief Prize of Tufts University’s Global Development and Environmental Institute.
Duncan Foley
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Social Interaction Models and Keynes' Macroeconomics
The central concepts of Keynes’ macroeconomic theories concerning the behavior of labor markets, aggregate demand, and asset pricing can be formulated as special cases of a general social interaction model.
Varieties of Keynesianism
Recent claims, particularly in Paul Krugman’s column and blog, on the superiority of the Hicks-Modigliani version of Keynesian economics calls for a re-thinking of the issues raised in the early controversies over what Joan Robinson called “bastard Keynesianism”.
Greenhouse Gas and Cyclical Growth
A growth model incorporating dynamics of capital per capita, atmospheric CO2 concentration, and labor and energy productivity is described.
Mathematical Formalism and Political-Economic Content
Human economic interactions spontaneously express themselves in the quantitative form of prices and transactions quantities. Thismakes it difficult to avoid quantitative reasoning in political-economic research altogether
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INET Guide to the 2017 EEA Meeting
A reference guide to all Institute for New Economic Thinking (INET) community presentations at the Eastern Economic Association’s (EEA) 2017 annual meeting
General Equilibrium Theory: Sound and Fury, Signifying Nothing?
Does general equilibrium theory sufficiently enhance our understanding of the economic process to make the entire exercise worthwhile, if we consider that other forms of thinking may have been ‘crowded out’ as a result of its being the ‘dominant discourse’? What, in the end, have we really learned from it?
New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals
The recently observed surge in wealth doesn’t equate to growth of productive capital. Joseph E. Stiglitz, Branko Milanovic, Paul Krugman and Duncan Foley discuss these issues and more.