William H. Janeway,
|Legal status||501(c)(3) research and education nonprofit organization|
|Headquarters||New York City, United States|
|Fields||Macroeconomic and Post-Keynesian theory|
Chairman of the Governing Board
|Affiliations||University of Cambridge|
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, and runs a variety of affiliated programs at major universities such as the Cambridge-INET Institute at the University of Cambridge.
INET was founded with an initial pledge of $50 million from businessman and philanthropist 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.
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, Ottmar Edenhofer, Barry Eichengreen, Thomas Ferguson, Duncan K. Foley, Roman Frydman, Ian Goldin, Charles Goodhart, Andy Haldane, David Hendry, Simon Johnson, Anatole Kaletsky, John Kay, Richard Koo, Axel Leijonhufvud, Perry Mehrling, Zhu Min, Y.V. Reddy, Carmen Reinhart, Hélène Rey, Ken Rogoff, Jeffrey Sachs, John Shattuck, Andrés Velasco, and William White and Yu Yongding.
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. In January 2011, the INET partnered with the Centre for International Governance Innovation to support research in economic theory and innovative projects. 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 executive director is Robert Johnson, former managing director at the hedge funds Soros Fund Management and Moore Capital Management.