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.
On October 25, 2013, Lance Taylor, economics professor emeritus at The New School for Social Research, gave a presentation at a Berlin conference hosted by the Research Network Macroeconomics and Macroeconomic Policies (FMM) titled, "The Jobs Crisis: Causes, Cure, Constraints."
Taylor's presentation provides a long-run analysis of economic growth and CO₂ emissions from his research paper, "Greenhouse Gas Accumulation and Demand-Driven Economic Growth," coauthored by Duncan Foley, Jonathan Cogliano and Rishabh Kumar.
His demand-driven growth model analyzes how economic growth through capital accumulation requires an increase in energy consumption. Increased energy consumption releases harmful greenhouse gases and reduces growth through the adverse effects of climate change, such as natural disasters and an increasing business costs. A possible solution would be increased spending on mitigation to reduce climate change damages. The model shows that investment in mitigating greenhouse gases to a "good," steady-state would cost 1.25% of the global GDP, roughly equal to military spending. On the distribution side, greenhouse gases cut into the profit share in any scenario - moderately in a mitigated scenario, but precipitously on an unmitigated, "business-as-usual" path.
Despite the mainstream interpretation that the October jobs report is a reason to ease off what little stimulus we are giving the economy, a broader view reinforces the fact that stimulus is the antidote for austerity policies that have failed to create prosperity.
Following a debilitating federal shutdown that failed to resolve conflicts over government spending and economic recovery, SCEPA economists both edited and contributed to an upcoming journal publication that critiques the mainstream acceptance of austerity policies.
“Austerity: Failed Economics But Persistent Policy,” is the November 1st issue of Social Research: An International Quarterly, a publication produced by The New School’s Center for Public Scholarship. The volume includes thirteen essays by leading economists, including Teresa Ghilarducci (co-editor), Robert Pollin, Rick McGahey (co-editor), and Willi Semmler, offering tools to escape austerity’s ill-advised vision and concrete policies to create economic growth and prosperity for all people, rather than just a wealthy few.
The volume describes austerity policies both here and abroad, how implementation has restricted economic growth, and why government officials continue to support these policies in spite of their poor track record. Specifically, authors argue that austerity policies hamper economic recovery, but remain popular among elites as a tool to lower labor costs and taxes while increasing profits. A real path to economic recovery and long-term fiscal health requires refocusing the debate from how to eliminate debt to how to eliminate mass unemployment.
Alternative policy proposals include a federal loan guarantee program for small businesses (Pollin), creation of a permanent federal government job guarantee program (Hamilton), and an expansion of Social Security to stabilize the economy and bolster the bargaining power of labor (Ghilarducci).