Institute for New Economic Thinking

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. Later funding has come from the Keynes Fund for Applied Economics and the Isaac Newton Trust at the University of Cambridge.

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,[2] 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, Ottmar Edenhofer,[3] Barry Eichengreen,[4] Thomas Ferguson, Duncan K. Foley, Roman Frydman, Ian Goldin, Charles Goodhart, Andy Haldane,[5] David Hendry,[6] Simon Johnson,[7] Anatole Kaletsky, John Kay, Richard Koo,[8] Axel Leijonhufvud, Perry Mehrling, Zhu Min,[9] Y.V. Reddy, Carmen Reinhart, Hélène Rey, Ken Rogoff, Jeffrey Sachs, John Shattuck, Andrés Velasco,[10] and William White and Yu Yongding.[11]

The Institute has disbursed approximately $4 million annually in research grants to students and professors. The Cambridge-INET Institute (co-funded with William H. Janeway) established an advanced institute for economic thinking at the University of Cambridge, The Cambridge-INET Institute was endowed with $3.75 million grant from the Keynes Fund for Applied Economics, Isaac Newton Trust, and the University of Cambridge Faculty of Economics. Similar collaborations exist with the INET at the Oxford Martin School, which was co-funded by James Martin, as well as the INET Center on Imperfect Knowledge Economics (IKE) at the University of Copenhagen.

Research programs supported by INET include:

• The Human Capital and Economic Opportunity Global Working Group, headed by James Heckman, is affiliated with the Becker Friedman Institute for Research in Economics at University of Chicago.[12]
• History of Economic Thought taskforce, headed by Bruce Caldwell of Duke University.
• 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.[13]

The executive director is Robert Johnson, former managing director at the hedge funds Soros Fund Management and Moore Capital Management.[14]

• Official website
• YouTube channel - INETeconomics
• Cambridge-INET Institute
• INET at the Oxford Martin School
• INET Center on Imperfect Knowledge Economics
• Information at www.influencewatch.org