Insights Blog

SCEPA's 2019 annual report documents how we bring reality into conventional economics by providing alternatives to mainstream thinking, empowering policymakers with economic insights, and creating lasting change for everyone. 

Brief— SCEPA's latest research finds that the COVID-19 recession worsens the inequality of job safety among older workers. 

Tax increment financing (TIF) is a popular but controversial financial tool used by local governments to fund economic development.

SCEPA Fellow Rick McGahey examines the pandemic's crushing economic effect on New York City in a new Forbes blog.

We are thrilled to welcome SCEPA Fellow Darrick Hamilton, a leading stratification economist focusing on racial disparities and inequality in education, economic, and health outcomes, back to The New School in 2021 as the Henry Cohen Professor of Economics and Urban Policy and a University Professor. Currently the Executive Director of the Kirwan Institute for the Study of Race and Ethnicity and Professor at the Ohio State University, Hamilton’s work often fuses disciplines, with the use of social science methods to examine racial, gender, ethnic, tribal, and nativity inequality, and includes crafting innovative policies and solutions to break down social hierarchy.

This work is aptly aligned with SCEPA’s mission to focus the economics debate on the role government can and should play to raise living standards, create economic security, and attain full employment for everyone. As a SCEPA Senior Fellow, Hamilton has remained a part of our community even in his absence from The New School and we have been pleased to recognize his vital research on a range of issues like the racial wealth gap and inventive remedies like “baby bonds”: trust accounts for every newborn depending on their family’s wealth. In his return as a faculty member at The New School, SCEPA looks forward to continuing our collaboration with Hamilton, especially as he serves as founding director of the newly created Institute for the Study of Race, Stratification and Political Economy at The New School.

“We welcome Professor Hamilton back to The New School, and are grateful to have his leadership in our intellectual community,” said SCEPA Director Teresa Ghilarducci. “As economists, we know that the movement for racial justice is closely and inherently tied to economic justice. Professor Hamilton’s work, which recognizes and seeks to remedy the persistent and systemic racism embedded in our economy, is more timely than ever.”

“I’m deeply honored and excited to be rejoining The New School as both a university professor and founding director of a new institute dedicated to the study of race, stratification and political economy,” said Hamilton in a recent blog from The New School. “I am returning at a pivotal moment, when we are reconceiving the roles of our government, our economy and our money in defining people’s lives. Universities have a moral responsibility to lead in these efforts and students are the facilitators of the changes that will bring about a more just and equitable future.”

I am returning at a pivotal moment, when we are reconceiving the roles of our government, our economy, and our money in defining people’s lives.

-Darrick Hamilton on returning to The New School in 2021

Prior to his current role at the Kirwan Institute and Professor at Ohio State University, Hamilton was a professor of Economics and Urban Policy at The New School’s Milano School of Policy, Management and Environment and at the New School for Social Research for 15 years. His career accomplishments are profound and extensive, from a 2018 Ted talk on how baby bonds could close the wealth gap (see below) to serving as a member of the economic committee of the Biden-Sanders Unity Task Force. Most recently, he has testified before Congress on the health and economic crises in the wake of COVID-19 and co-authored a paper on economic relief for black and brown communities hit hardest by the pandemic. It is with great pride and pleasure that SCEPA welcomes him back to our New School community and we look forward to future collaboration.

With Washington in partisan deadlock and revenue shortfalls in city and state budgets across the country, where can local governments turn to avoid economic collapse? Some are hoping the Federal Reserve could be the answer, writes SCEPA Fellow Rick McGahey in a new Forbes blog.