Institute for New Economic Thinking

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Institute for New Economic Thinking
Institute for New Economic Thinking logo.svg
Formation October 2009 (2009-10)
Founder James Balsillie,
William H. Janeway,
George Soros
Type Think tank
Legal status 501(c)(3) research and education nonprofit organization
Headquarters New York City, United States
Fields Macroeconomic and Post-Keynesian theory
and policy
Robert Johnson
Chairman of the Governing Board
Adair Turner
Revenue (2015)
Expenses (2015) $16,070,505[1]

The Institute for New Economic Thinking (INET) is a New York City-based nonprofit think tank. It was founded in October 2009 as a result of the 2007–2012 global financial crisis. Its mission is "to nurture a global community of next-generation economic leaders, to provoke new economic thinking, and to inspire the economics profession to engage the challenges of the 21st century".[2]


INET was founded with an initial pledge of $50 million from George Soros. It has since been supplemented by donations from James Balsillie and William H. Janeway, together with other philanthropists and financiers, including Paul Volcker, David Rockefeller, the Malcolm Hewitt Wiener Foundation, the Alfred P. Sloan Foundation, the Carnegie Corporation of New York, and Stiftung Mercator.

Advisory board[edit]

Economists Amartya Sen (left), Carmen Reinhart, and Joseph Stiglitz serve on INET's advisory board.

The INET advisory board includes nobel laureates George Akerlof, James Heckman, Sir James Mirrlees, Amartya Sen, A. Michael Spence, and Joseph Stiglitz, as well as other prominent economists such as Markus K. Brunnermeier, Willem Buiter, Wendy Carlin, Paul Davidson, Robert Dugger, Thomas Ferguson, Duncan K. Foley, Roman Frydman, Ian Goldin, Charles Goodhart, Anatole Kaletsky, John Kay, Axel Leijonhufvud, Perry Mehrling, Y.V. Reddy, Carmen Reinhart, Hélène Rey, Ken Rogoff, Jeffrey Sachs, John Shattuck, William R. White and Yu Yongding.[3]


The Institute has disbursed approximately $4m annually in research grants. The INET at the Oxford Martin School was co-funded by James Martin and the Oxford Martin School. The Cambridge-INET Institute was co-funded with William H. Janeway, and the INET Center on Imperfect Knowledge Economics (IKE) is located at the University of Copenhagen.

Programs and projects[edit]

Research programs supported by INET include:

Eric Beinhocker, executive director of INET-Oxford, independently authored a book introducing some of the ideas held by some INET-associated economists, The Origin of Wealth.[5]


The executive director is Robert Johnson, former managing director at the hedge funds Soros Fund Management and Moore Capital Management.[6]

See also[edit]


  1. ^ a b "Institute for New Economic Thinking Inc." (PDF). Foundation Center. 18 November 2016. Retrieved 25 April 2017. 
  2. ^ "Mission statement", INET web site.
  3. ^ "About INET: Leadership." Institute for New Economic Thinking web page. Retrieved 10 June 2013.
  4. ^ "The Human Capital and Economic opportunity Global Working Group". The University of Chicago. 27 December 2011. Retrieved 28 December 2012. 
  5. ^ Beinhocker, Eric D. (2006). The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics. Harvard Business School Press. Retrieved 8 June 2013. ISBN 978-1-57851-777-0.
  6. ^ Irwin, Neil (29 July 2010). "A crossroads for the U.S. economy". Washington Post. Retrieved 27 January 2011. 

External links[edit]