The New School for Social Research Receives Nearly $1 Million Gift to Advance the Study of Economics

LtR: Paul Sweezy and Harry Magdoff

New York, December 1, 2021 - The New School for Social Research (NSSR) received a nearly $1 million gift from an anonymous donor to renew the Harry Magdoff and Paul Sweezy Fellowships for four more years. The fellowships provide three years of full funding to outstanding incoming students in NSSR’s PhD Economics program, well known for its heterodox approaches to economic theory and history, and the history of economic thought.
“The renewal of the Harry Magdoff and Paul Sweezy Fellowship program provides another four years of direct support to doctoral students studying heterodox economics at the highest level.  It means that multiple years of new doctoral students will be able to focus on research without incurring debilitating debt. The fellowship is a tribute to our distinctive approach to economics at NSSR. And it serves as a model for fellowship funding that we hope to replicate in our other programs,” says Will Milberg, an economics professor and dean of NSSR.
The Magdoff and Sweezy Fellowship was established in 2017 from a $1 million gift from the same donor. To date, the fellowships has supported 15 students on the cutting edge of the field, including Armando Alvarez, José Pedro Bastos Neves, Elena Blanc, Joao Paulo Braga, Cesar Castillo Garcia, Emanuele Citera, Jacobo Ferrer Hernandez, Ettore Gallo, Qing Han, Tato Khundadze, Andreas Lichtenberger, Kalpa Rajapakshage, Amit Roy, Frutuoso Santana, and Clara Zanon Brenck.
“The Magdoff and Sweezy Fellowships have been—and will continue to be—essential to our pursuit of the best students,” says Mark Setterfield, professor and the chair of Economics. “A gift of this size has a transformative impact on our ability to educate the next generation of progressive economists.”
The fellowship program was named for Magdoff and Sweezy due to their sizable influence on the study of economics during the 20th century. Sweezy, dubbed the “dean of radical economists” by the Wall Street Journal, taught Marxian economics at NSSR in the mid-1970s and co-founded the journal Monthly Review, the longest continuously published socialist magazine in the United States. He also wrote The Theory of Capitalist Development: Principles of Marxian Political Economy (1946) and, with Paul Baran, Monopoly Capital: An Essay on the American Economic and Social Order (1966). Magdoff wrote The Age of Imperialism: The Economics of U.S. Foreign Policy (1969). Along with editing Monthly Review, Magdoff and Sweezy co-wrote six books, including Stagnation and the Financial Explosion (1987), one of the earliest treatments of the problem of financialization, which continues to plague the U.S. economy.

Offering rigorous programs in the social sciences, philosophy, and history, The New School for Social Research fosters an intellectual environment that challenges orthodoxy, promotes public discourse, and encourages collaboration across disciplines. With more than 75 full-time faculty members, our 10 departments and programs offer master's and doctoral degrees to 800 graduate students from 70 countries. Our interdisciplinary centers and institutes provide further opportunities for deep inquiry and innovative collaborations, particularly at the intersection of social theory, policy, and design. We welcome everyone interested in challenging the status quo and creating a more just world.

Founded in 1919, The New School was established to advance academic freedom, tolerance, and experimentation. A century later, The New School remains at the forefront of innovation in higher education, inspiring more than 10,000 undergraduate and graduate students to challenge the status quo in design and the social sciences, liberal arts, management, the arts, and media. The university welcomes thousands of adult learners annually for continuing education courses and public programs that encourage open discourse and social engagement. Through our online learning portals, research institutes, and international partnerships, The New School maintains a global presence.



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The New School
Merrie Snead


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