Author: Seb Carpanini

Seb's interest in economics has expanded to fields of management and strategy. He is also a musician, and regularly contributes to Eton music.
Book Reviews

“The Return of Depression Economics” by Paul Krugman

The Return of Depression Economics combines Krugman’s narrative with his analysis of the significant economic recessions of the past century, culminating to the crisis of 2008. Krugman assesses the crises in the United States of the early 1900’s and the crises in Asia and Latin America of the 1990’s, before perceptively demonstrating their similarities to the Great Recession. He observes that we did not learn … Continue reading “The Return of Depression Economics” by Paul Krugman

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Behavioural

What is Rationality in Economics?

Rationality in economics is described to be a decision-making process of an economic agent that seeks to maximise utility. To best understand the notion of rationality in economics, it is best to compare it to rationality in a more psychological sense: the quality of being able to think sensibly or logically. This comparison highlights that rationality in economics is more concerned with the outcome of … Continue reading What is Rationality in Economics?

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Asia, Behavioural, US

The US v. North Korea: The role of game theory

Tension between the United States and North Korea has reached a stage where missile strikes have become an alarming possibility. If tensions escalate further to a state where military action looks almost certain, game theory could offer us insight into finding the best strategy to tackle the problem. Firstly though, what does Kim Jong Un hope to achieve by possessing a nuclear arsenal? It is … Continue reading The US v. North Korea: The role of game theory

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Behavioural, Book Reviews

“What Money Can’t Buy” by Michael J. Sandel

Sandel makes it very clear in his book, What Money Can’t Buy, that he is a philosopher. You might expect Sandel, as the book is a meticulous analysis of the free market – an entirely economic concept – and its effects on society, to at least explore economic thought and reasoning, but he is scornful of it; he likes to distance himself from it throughout. … Continue reading “What Money Can’t Buy” by Michael J. Sandel

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Europe, Long Read

The Euro: A failed project?

The Euro was created at midnight on 1st January 1999 when members of the Eurozone fixed their currencies against each other, but it did not become a legal tender until 1st January 2002. The creation of the Euro was seen to be a step towards the political and social unification of Europe through economic means: the means being an optimal currency area (OCA) – a theory … Continue reading The Euro: A failed project?

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