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Einaudi Center for International Studies

Inflation, Corporate Profits, and the Legal-Institutional Limits of Monetary Governance: Rethinking the Post-Pandemic Price Surge

Nischal Dhungel headshot

Author: Nischal Dhungel

This paper reinterprets the 2021-2023 post-pandemic inflation, particularly in the United States and advanced economies, through a structural and legal-institutional lens. Challenging orthodox macroeconomic explanations centered on aggregate demand, empirical evidence indicates that partial supply-side constraints, corporate mark-up expansion, and rising financial overhead primarily drove inflation. Drawing on Keynesian, Kaleckian, and Minskyan frameworks, the analysis demonstrates how legal frameworks governing antitrust and international monetary relations enabled concentrated firms to exert pricing power. The paper concludes that conventional interest-rate tightening was inadequate and counterproductive, proposing an alternative policy framework focused on market-structure reform, strategic price regulation, and international monetary cooperation.

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  • White Paper

  • CRADLE White Paper Series

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Publication Year: 2026

The Movement of Powers in Government: Schelling-Style Equilibrium and the Constitutional Doctrine of Separation of Powers

Jaivir Singh and T.C.A. Anant headshots

Author: Jaivir Singh and T.C.A. Anant

The paper sets out to understand the constitutional doctrine of separation of powers in the face of change. To capture the dynamics of the doctrine we turn to a Machiavelli inspired conflict-centered view of politics and proceed to analyze conflict as a Schelling-style mixed-motive game, proposing that constitutional law generates focal points that endogenously shift the lines of power. These arguments are made with empirical support from our previous work centered on the Indian Constitution, which aimed to pinpoint economic costs that are traceable to the violation of separation of powers. To understand constitutional law as a focal point as well as the argument that such focal points themselves end up re-ordering the legal order, we work with a conception of law that draws on the work of legal institutionalists in particular homing in on the formulation of law suggested by the Italian jurist Santi Romano. In effect, the paper highlights a set of narratives that tease out patterns, which are read as Schelling style mixed motive games, but this is not the only point of the paper, rather through this telling it aims to present a method of approaching an institutional analysis of separation of powers – it suggests a replication of such analysis in the many instances where the separation of powers is in operation to see the many variegated outcomes.

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  • White Paper

  • CRADLE White Paper Series

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Publication Year: 2026

From War Waste to Cultural Legacy: The Role of Chinese Poetry in WWI Trench Art

March 17, 2026

4:30 pm

Rockefeller Hall, 374, Asian Studies Lounge

Speaker: Ding Xiang Warner, Professor of Chinese Literature, Cornell University

Abstract: The usual procedures of the scholar of Chinese poetry, when asking the question “What is the meaning of this Chinese poem?,” are familiar and generally reliable. Whether we ask the question about a poem’s “original meaning,” a meaning intended by its author, or about the meanings that accrued to the poem in its reception by readers over time, the meanings for which the poem earned a “place” in Chinese literary tradition, there are rich scholarly resources and time-tested methodological tools that help us to work out answers, even if tentatively. How, though, is the task of the literary historian complicated, how are the meanings of a Chinese poem affected, when it and its Chinese readers are “uprooted” from their native land, transported out of their cultural milieu into another? This presentation takes up these questions by way of examining engraved Chinese poems found on WWI trench art made by Chinese volunteer workers on the Western Front in Europe as opportunities for expanding study of classical Chinese poetry outside its expected contexts.

About East Asia Program

As Cornell’s hub for research, teaching, and engagement with East Asia, the East Asia Program (EAP) serves as a forum for the interdisciplinary study of historical and contemporary East Asia. The program draws its membership of over 45 core faculty and numerous affiliated faculty, graduate, and undergraduate students from eight of Cornell’s 12 schools and colleges.

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Einaudi Center for International Studies

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Summer Program in India Info Session

February 24, 2026

6:00 pm

Are you curious about how mental health, culture, and global health connect to real-world policy challenges? Do you want to learn through hands-on field research and community engagement in one of the most beautiful and biodiverse regions of South India? The Cornell-Keystone NFLP Summer Program in India offers an interdisciplinary experience in global health and policy, where students explore how culture, environment, and community shape wellbeing in the Nilgiris Biosphere Reserve.

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Einaudi Center for International Studies

South Asia Program

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