James Heckman of the University of Chicago be Awarded a Grant from the Institute for New Economic Thinking
An INET grant will fund Professor Heckman’s task force on human capital and economic inequality research.
New York, NY, December 19, 2010 --(PR.com)-- The Institute for New Economic Thinking (INET), launched with a $50 million pledge from George Soros to promote changes in economic theory and practice through research grants, Task Force groups, academic partnerships, and conferences, announced that it has selected James Heckman of the University of Chicago be awarded a taskforce grant through the Institute’s Inaugural Grant Program to study human capital and economic inequality. The grant program, along with other INET initiatives, was created in direct response to arguably the worst economic crisis in world history, and has been designed to encourage and support new economic thinking. Starting in 2011, INET will conduct two grant cycles annually.
Heckman’s task force considers situations such as the greater percentage of Americans going to college than 40 years ago, while at the same time, a greater percentage is dropping out of high school. America has become an unequal society in terms of income, the skills of its people, and the opportunities for advancement available to its citizens. There has been a slowdown in the growth of labor force quality that threatens U.S. productivity growth and international competitiveness. The slowdown helps fuel the growing social inequality and threatens fiscal sustainability. Professor Heckman’s task force will use INET’s funding to restore and strengthen human capital development research, integrate the study of human capital with macro markets, and build an international network of researchers from multiple disciplines.
“Whether measured in terms of personal liberty, economic opportunity, per capita GDP, or economic wellbeing, a society’s success depends on the capabilities of its citizens,” said Dr. Robert Johnson, Executive Director of INET. “The connection between the recent global asset market instability, human capital development, education and income inequality may prove to be significant and therefore warrants in-depth research including the integration of macro and micro market analysis.”
James Joseph Heckman is an American economist and Nobel laureate. He is the Henry Schultz Distinguished Service Professor of Economics at the University of Chicago, and Professor of Science and Society at University College Dublin. Heckman received the Nobel Memorial Prize in Economics in 2000 for his pioneering work in econometrics and microeconomics.
“I am grateful to INET for its support of my research and that of my colleagues in investigating the origins of inequality and support for research in economically efficient ways to reduce inequality,” said James Heckman, Henry Shultz Distinguished Service Professor of Economics, University of Chicago.
INET’s Inaugural Grant Program has been designed to harness the new economic thinking we recognize as crucial to effecting change. The program was launched this summer and received more than 500 applications from around the world and has selected 34 initiatives to be awarded grants totaling $7 million. INET's Grant Program will continue with two similar grant cycles annually, the next one commencing in the spring of 2011.
For further details regarding INET’s Grant Program or additional projects and people to be awarded grants please visit the Institute’s website.
About the Institute for New Economic Thinking:
Launched in October 2009 with a $50 million commitment from George Soros and driven by the global financial crisis, the Institute for New Economic Thinking (INET) is dedicated to empowering and supporting the next generation of economists and scholars in related fields through research grants, Task Force groups, academic partnerships, and conferences. INET embraces the professional responsibility to think beyond current paradigms. Ultimately, INET is committed to broadening and accelerating the development of innovative thinking that can lead to insights into and solutions for the great challenges of the 21st century and return economics to its core mission of guiding and protecting society. For more information please visit http://www.ineteconomics.org/
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Heckman’s task force considers situations such as the greater percentage of Americans going to college than 40 years ago, while at the same time, a greater percentage is dropping out of high school. America has become an unequal society in terms of income, the skills of its people, and the opportunities for advancement available to its citizens. There has been a slowdown in the growth of labor force quality that threatens U.S. productivity growth and international competitiveness. The slowdown helps fuel the growing social inequality and threatens fiscal sustainability. Professor Heckman’s task force will use INET’s funding to restore and strengthen human capital development research, integrate the study of human capital with macro markets, and build an international network of researchers from multiple disciplines.
“Whether measured in terms of personal liberty, economic opportunity, per capita GDP, or economic wellbeing, a society’s success depends on the capabilities of its citizens,” said Dr. Robert Johnson, Executive Director of INET. “The connection between the recent global asset market instability, human capital development, education and income inequality may prove to be significant and therefore warrants in-depth research including the integration of macro and micro market analysis.”
James Joseph Heckman is an American economist and Nobel laureate. He is the Henry Schultz Distinguished Service Professor of Economics at the University of Chicago, and Professor of Science and Society at University College Dublin. Heckman received the Nobel Memorial Prize in Economics in 2000 for his pioneering work in econometrics and microeconomics.
“I am grateful to INET for its support of my research and that of my colleagues in investigating the origins of inequality and support for research in economically efficient ways to reduce inequality,” said James Heckman, Henry Shultz Distinguished Service Professor of Economics, University of Chicago.
INET’s Inaugural Grant Program has been designed to harness the new economic thinking we recognize as crucial to effecting change. The program was launched this summer and received more than 500 applications from around the world and has selected 34 initiatives to be awarded grants totaling $7 million. INET's Grant Program will continue with two similar grant cycles annually, the next one commencing in the spring of 2011.
For further details regarding INET’s Grant Program or additional projects and people to be awarded grants please visit the Institute’s website.
About the Institute for New Economic Thinking:
Launched in October 2009 with a $50 million commitment from George Soros and driven by the global financial crisis, the Institute for New Economic Thinking (INET) is dedicated to empowering and supporting the next generation of economists and scholars in related fields through research grants, Task Force groups, academic partnerships, and conferences. INET embraces the professional responsibility to think beyond current paradigms. Ultimately, INET is committed to broadening and accelerating the development of innovative thinking that can lead to insights into and solutions for the great challenges of the 21st century and return economics to its core mission of guiding and protecting society. For more information please visit http://www.ineteconomics.org/
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Institute for New Economic Thinking
Bill Fallon
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ineteconomics.org
Bill Fallon
212 925 6900
ineteconomics.org
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