New York, NY, November 01, 2010 --(PR.com
)-- The Institute for New Economic Thinking (INET), launched with a $50 million pledge from George Soros to promote changes in economic theory and practice through research grants, Task Force groups, academic partnerships, and conferences, announced that it has selected Barry Eichengreen of the University of California, Berkeley to be awarded a taskforce grant through the Institute’s Inaugural Grant Program to establish the Berkeley Economic History Laboratory. The Grant Program was created in direct response to arguably the worst economic crisis in world history, and is designed to encourage and support the new economic thinking required to effect change that will avert future crises.
The grant will allow UC Berkeley’s graduate program in Economics to increase the production of historically literate economists capable of contributing to the policy debate. Professor Eichengreen plans to use INET’s funding to cover graduate student and postdoctoral fellowships that would attract additional top-flight PhD candidates to the field of economic history. Expanded seminar and brown-bag luncheon budgets would allow for additional presentation and discussion of work in progress, and small grants for archival visits and digitization of historical data would help students move more quickly from course work to research.
“It took the most serious financial crisis in 80 years – unfortunately – to remind economists of the value of historical knowledge and analysis,” Professor Eichengreen observed. “We now need to capitalize on that awareness by increasing the supply of young scholars with historical training and skills who can contribute to the debate over economic and financial reform.”
“The economists trained through Professor Eichengreen’s expansion of programs at Berkeley Economic History Laboratory will be key assets in advancing economic history as a fundamental in economic training and academia,” commented Dr. Robert Johnson, Executive Director of INET. “The Institute shares Professor Eichengreen’s understanding that an awareness of history and historical context is essential to the practice of economics, and INET is committed to the Laboratory’s success.”
Barry Eichengreen is George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California at Berkeley, Research Associate of the National Bureau of Economic Research and Research Fellow of the Centre for Economic Policy Research. He is 2010 recipient of the Schumpeter Prize of the International Schumpeter Society and President of the Economic History Association.
INET’s Inaugural Grant Program has been designed to harness the new economic thinking we recognize as crucial to effecting change. The program was launched this summer and received more than 500 applications from around the world and has selected 31 initiatives to be awarded grants totaling $7 million. INET's Grant Program will continue with two similar grant cycles annually, the next one commencing in the spring of 2011.
For further details regarding INET’s Grant Program or additional projects and people to be awarded grants please visit the Institute’s website.
About the Institute for New Economic Thinking:
Launched in October 2009 with a $50 million commitment from George Soros and driven by the global financial crisis, the Institute for New Economic Thinking (INET) is dedicated to empowering and supporting the next generation of economists and scholars in related fields through research grants, Task Force groups, academic partnerships, and conferences. INET embraces the professional responsibility to think beyond current paradigms. Ultimately, INET is committed to broadening and accelerating the development of innovative thinking that can lead to insights into and solutions for the great challenges of the 21st century and return economics to its core mission of guiding and protecting society. For more information please visit http://www.ineteconomics.org/