Doctoral alumni from the Department of Economics at the New School for Social Research count as some of the most influential in the discipline, ranking highly on recent lists of leading economists published by Politico and Richtopia. They are also among the most productive researchers at national liberal arts colleges, according to a recent study that appeared in November’s issue of the International Journal of Pluralism and Economics Education.
Alumnae Stephanie Kelton (PhD’01, Economics) and Heather Boushey (PhD’98, Economics) were both listed by Politico as two of 2016’s top “doers and visionaries” transforming American politics, specifically in the areas of Economics and Inequality. Boushey, who is described as part of a trio of policy advisers that played a prominent role in the Clinton Presidential Campaign, was characterized by The Atlantic as the former candidate’s “economic inequality whisperer.” In the wake of the election, Boushey continues to serve as Executive Director and Chief Economist at the Washington Center for Equitable Growth, where her research focuses on inequality and public policy. Her most recent book, published last year by Harvard University Press, is Finding Time: The Economics of Work-Life Conflict. In it, she argues that for decades the American Wife played the role of, “a behind-the-scenes, stay-at-home fixer of what economists call market failures. When women left the home—out of desire and necessity—the old system fell apart. Families and the larger economy have yet to recover.” According to Boushey, policy solutions must entail the creation of opportunities for American workers to better balance their home life and work obligations.
Kelton serves as Professor of Economics at the University of Missouri-Kansas City, a department with close ties to The New School for Social Research. Politico describes her as a leader in “Modern Monetary Theory,” which stands as “a major break, even with many Keynesian economists on the left who trumpeted fiscal stimulus after the financial crisis.” Kelton was an economic adviser to Bernie Sanders during his 2016 presidential run, and was also ranked the 26th most influential economist in the world on Richtopia’s end-of-year list (up two spots from 28th in 2015).
The prominence of recent New School doctoral alumni isn’t limited to the States. Joining Kelton on Richtopia’s list was Jim Stanford (PhD’95, Economics), who recently relocated to Sydney, where he is Director of the Centre for Future Work at the Australia Institute. Previously, Stanford was the Harold Innis Professor of Economics at McMaster University and has been a longtime commentator on economics in the press. In a recent article in The Globe and Mail, Stanford analyzed the changing rules of globalization in the auto industry during the Trump Administration.
Like Stanford, Mariana Mazzucato (PhD’99, Economics) was recently named as the Director of an important economics research center, the Institute for Innovation and Public Purpose at UCL in London. She was also counted as one of the most-cited industrial policy sources for the UK Labour Party during debate in Parliament. For the sake of comparison when considering economists cited as authoritative in Parliamentary debate, Mazzucato ranks fifth—tied with Karl Marx and falling behind only Adam Smith, John Maynard Keynes, Joseph Stiglitz, and Milton Friedman. Mazzucato’s book The Entrepreneurial State, which was reissued in the US by Public Affairs in 2015, “debunks the myth of a lumbering, bureaucratic state versus a dynamic, innovative private sector.”
Boushey, Kelton, Mazzucato, and Stanford exemplify the New School for Social Research’s emphasis on conducting critical research that can drive policy discussions. This research excellence extends into the classroom. In “Engaged in Teaching, and Scholarship Too,” three economists examined the “research productivity of economists affiliated with the top 100 national liberal arts colleges,” as measured by the output of publications. Both Matías Vernengo (PhD’99, Economics) of Bucknell and Rajiv Sethi (PhD’93, Economics) of Barnard College were in the top 20. Vernegno’s scholarship emphasizes the history of ideas in the development of economic theory, while Sethi currently works on the economics of inequality, crime, and communication.
“It is exciting to see our alumni producing such diverse research while at the same time playing critical roles influencing policy and teaching the next generation of students,” said Mark Setterfield, Chair of the Department of Economics. He was listed as the fourth most productive researcher at the top 100 liberal arts colleges during his time at Trinity College. Setterfield added, “Our department plays such a special role in the discipline, both domestically and internationally. It’s evident from the accomplishments of our alumni that this role is widely recognized, both within the economics profession and beyond.”
The Economics Department welcomes “friends and family” to a celebration at the University Center that will coincide with the annual Meetings of the Eastern Economics Association on February 24. Details are forthcoming, and all with affiliations to The New School for Social Research Department of Economics are invited to connect with faculty, alumni, and others for an informal gathering. For more information, please reach out.