Institute for New Economic Thinking

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Group.png Institute for New Economic Thinking  
(Think tankSourcewatch WebsiteRdf-entity.pngRdf-icon.png
Institute for New Economic Thinking logo.png
FormationOctober 2009
Founder• James Balsillie
• William H. Janeway
• George Soros
• Robert Johnson
HeadquartersNew York City, United States
InterestsGreen New Deal
Interest ofAdair Turner
Membership• Chris Canavan
• Clive Cowdery
• Gaurav Dalmia
• Arminio Fraga
• Anatole Kaletsky
• Rohinton Medhora
• Drummond Pike
• John A. Powell
• Gillian Tet
• Richard Vague
• Guillaume Amblard
• Sarah Evans
• Antonio Foglia
• David Giampaolo
• Kent Janér
• Mitchell R. Julis
• Vincent Mai
• Stephen Peel
• Martin Reeves
• Marshall Sonenshine
• Kathleen Stephansen
• Malcolm Wiener
• George Akerlof
• Sheila Dow
• Steven Fazzari
• Thomas Ferguson
• Roman Frydman
• Axel Leijonhufvud
• Perry G. Mehrling
• Antonella Stirati
• James Mirrlees
• A. Michael Spence
• Joseph Stiglitz
• Jeffrey Sachs
• Willem Buiter
• Markus K. Brunnermeier
• Robert Dugger
• Duncan Foley
• Ian Goldin
• Charles Goodhart
• John Kay
• Perry Mehrling
• Y.V. Reddy
• Kenneth Rogoff
• John Shattuck
• William R. White und Yu Yongding
• Adair Turner
George Soros front. Think tank to change economic policy.

The Institute for New Economic Thinking (INET) is a New York City–based nonprofit think tank mainly financed by George Soros. The managing director of the INET is the economist Robert Johnson, former managing director of the hedge fund Soros Fund Management.

The idea behind INET is to capture and dominate the opening for new ideas. Founded in 2008, the Institute for New Economic Thinking was designed to absorb young creative minds who might otherwise make actual discoveries in economic science into a controlled environment where they would be granted an apparent (but not actual) freedom and funding. In this environment, they would be free to innovate new alternative theories of economics as long as they adopted certain specific assumptions and axioms conducive to oligarchical societies committed to zero growth/closed system thinking.[1]

In a 2010 interview with Chrystia Freeland, Soros described the new Institute’s purpose in the following terms.


It is an attempt to get economists to rethink the very foundations of economics because it turns out that macro-economic theory has broken down. The financial crisis has shown that it is quite inadequate at making any kind of predictions about the future, and it has to be rethought from its fundamentals.[2]

Merging Radical Uncertainty with Stability

The think tank is part of the push to transform society to a technocratic model under the pretext of fighting climate change.

Together with the United Nations, INET sponsored a 2019 summer school for young talented economists entitled “Is a Global Green New Deal the Solution?” [3]

Matthew Ehret described the goal:


While promoting the belief in “radical uncertainty”, Soros has stated in 2012 that the goal for INET is that “the assumption of rational expectations and rational behaviour will be effectively abandoned”.

Soros onto describe how “the idea that stability has to be an objective of public policy, which is not at the moment generally accepted will become more recognized”.

Here a new paradox arises…

How can a system premised on radical uncertainty be guided by stability? From where would this stability arise? Who will impose it? What standards could be used? Aren’t all standards intrinsically untruthful in Soros’ worldview?

The answer to these questions is simpler than you might imagine:

1) The masses will be expected to impose it onto themselves and 2) The upper level managerial elite hiding behind an invisible will of “complexity” will control the “stability” of the system from above as gods lording over the serfs in what Aldous Huxley once called the Concentration camp without tears..[1]

Members

The members listed (see above right) include the board from September 2021[4], plus some former members.

James Balsillie is a Canadian billionaire who ran the Canadian Roundtable Group renamed the Canadian International Council (CIC) after it merged with his Center for International Governance Innovation (CIGI) in 2007.

William H. Janeway is a Cambridge professor and managing director at Warburg Princus capital management.[1]

Lord Turner is the former head regulator of the City of London from 2008-2013 who first introduced legislation for a Green New Deal into the UK parliament in 2009 and currently acts as chairman of the Global Energy Transitions Commission.

Other leaders of the INEP governing board include Drummond Pike (the founder of Soros’ Tides Foundation), Rohinton Medhora (President of Balsillie’s think tank Center for International Governance Innovation), and Robert Johnson (former Managing Director at Soros Fund Management).



References