Located in New York City, SCEPA is at the center of a network of leaders dedicated to progressive and innovative education and ideas.
SCEPA faculty are investigating the economics of climate change, from mitigation proposals to implementation.
SCEPA focuses on the U.S. economy, with an awareness of the global context of domestic economic developments.
A research institute within The New School’s Economics Department, SCEPA is dedicated to collaboration between today’s experts and tomorrow’s leading economists.
SCEPA is working to reform a retirement system that is failing Americans.
Our projects are designed to empower policy makers to create positive change. With a focus on collaboration and outreach, we provide original, standards-based research on key policy issues.
SCEPA joined with the Economic Policy Institute on Capitol Hill to brief congressional staff and policy experts on tax expenditures, or incentives given through the tax code without scrutiny by Congress.
SCEPA economists are working on the prospects for a more progressive economic order to emerge from the shock of the recession. They have published papers and documents that place current events in a longer-term context as well as policy proposals to deal with short-term concerns. They are also documenting the emerging discussion of how the discipline of economics is reacting to the Great Recession and the questioning of conventional economic analysis.
Lance Taylor, a SCEPA Faculty Fellow, presents an overview of his new book, Maynard’s Revenge, in a Google Tech Talk.
The book, published this November by Harvard University Press, is a timely analysis of mainstream macroeconomics, posing the need for a more useful and realistic economic analysis that can provide a better understanding of the ongoing global financial and economic crisis.
The government spends $143 billion through tax breaks in an effort to expand pension coverage and security. Yet, over half of the American workforce does not have a pension. Retirement insecurity hurts business plans, workers’ lives and retiree well-being. Reform is needed.
SCEPA’s Guaranteeing Retirement Income Project, sponsored by the Rockefeller Foundation and in collaboration with Demos and the Economic Policy Institute, has a plan to guarantee safe and secure retirement income for all Americans.
Every country is worried about investing retirement funds correctly, and every country wants to minimize risks to the taxpayer so there aren’t large, unknown bills in the future. In the United States, we use our tax code far more than other countries to encourage savings and other socially beneficial behavior. We spend billions of dollars to incentivize saving for retirement through 401(k)’s and I.R.A.’s. That costs us a huge amount of money without much effect in creating a secure retirement system. In fact, America’s voluntary system means that nearly six out of 10 workers are not in pension or 401(k) plans.
Lance Taylor, SCEPA Faculty Fellow and emeritus Professor of Economics at The New School, analyzes Paul Krugman's "IS/LM" macroeconomic model. His analysis includes a discussion of the theory's origins in the history of economic thought and ends in a critique that the policy implications may not be robust.
In the United States, there is ongoing debate about how the positions of the “poor” (say households in the bottom one or two quintiles of the size distribution of income), the “rich” (the top decile or top percentile), and the “middle class” (households “between” these two groups) will be affected by fiscal and other initiatives such as raising the minimum wage.
In a new SCEPA/INET paper prepared for the Eastern Economics Association (EEA) conference in May, 2013, "U.S. Size Distribution and the Macroeconomy, 1986-2009," the authors use a social accounting matrix, or SAM, and a simple demand-driven model to investigate rising inequality and the effects of redistributive economic policies. The database for the paper is made available as a spreadsheet.
They find that the resulting simulations of macroeconomic policy measures do not markedly affect the distribution of household disposable income. Only policies directed at explicit wage equalization in the form of rising wages at the bottom lead to significantly greater equality.