Category: Economics

Economics-driven content, perfect for students and teachers alike. Highly accessible and open to all.

Development, Keynes Society Reports, Politics

Sir Tim Besley: “State Capacity and Economic Development”

The Keynes Society was delighted to virtually host Professor Sir Timothy Besley, a world-renowned economist in the field of development economics and development policy foundations. Professor Sir Besley is a professor of development economics at the London School of Economics and a fellow of All Souls College Oxford, having served on the Monetary Policy Committee of the Bank of England and as President of the … Continue reading Sir Tim Besley: “State Capacity and Economic Development”

Unknown's avatarChenyang LiLeave a comment
Chart of the Month

Chart of the Month – July 2021

This Chart of the Month shows the price of the EU Emissions Trading Scheme (ETS). The EU ETS aims to reduce net greenhouse gas emissions within the EU. It is a market-based intervention. Greenhouse gases have made catastrophic weather events much more likely. This summer, we saw devastating floods across Europe, which killed over 300 people. In the US, wildfires torched almost 1.4 million hectares … Continue reading Chart of the Month – July 2021

Unknown's avatarChenyang LiLeave a comment
Chart of the Month

Chart of the Month – June 2021

June’s Chart of the Month shows the daily value of takeaway sales in the USA over the last five years. The onset of COVID-19 last year cleared the chatter of diners from restaurants, replacing them instead with the frenetic hum of mopeds delivering meals. Sales of takeaway meals have ballooned, up 120% since the start of last year and – despite the gradual reopening –  … Continue reading Chart of the Month – June 2021

Unknown's avatarTristan HandLeave a comment
Behavioural, Finance and Markets, International

Forever blowing bubbles

Be fearful when others are greedy and greedy when others are fearful. – Warren Buffett Buffett uses this mantra every day, along with his two other ground rules for running his investment firm Berkshire Hathaway: So why does the 90-year-old legendary investor hold these core mantras? One possible answer can be found by considering the history of investment bubbles. One of the first recognised “bubbles” … Continue reading Forever blowing bubbles

Unknown's avatarOllie Weldon2 Comments
Smoke stack with yellow sign reading "carbon tax" in the foreground
Economics, Environment, US

Should a form of Carbon Pricing be introduced in the US?

Since 1896, when global warming was first publicly shown to be a consequence of burning fossil fuels, humanity has wrestled with the conundrum of how best to respond to this looming threat. Against the background of politicisation associated with climate change, economists have argued over the benefits and detriments of introducing a carbon tax: a way of taxing companies which emit greenhouse gases so as … Continue reading Should a form of Carbon Pricing be introduced in the US?

Unknown's avatarJamie Ginsberg1 Comment
Professor Cass Sunstein giving a speech
Behavioural, Interviews, Long Read, Politics, US

An interview with Professor Cass Sunstein: Nudges, economic systems, and freedom

Cees Armstrong and I had the pleasure of interviewing Professor Sunstein, the Robert Walmsley Professor at Harvard Law School. Professor Sunstein is the best-selling author of many books, including the critically acclaimed Nudge, as well as the most cited law scholar of all time. He now works with the US government. Continue reading An interview with Professor Cass Sunstein: Nudges, economic systems, and freedom

Unknown's avatarVimal KamathLeave a comment
Economics, International

Price Controls on Essentials During the Pandemic

The phrase “time of crisis and shortage” is certainly applicable to the coronavirus pandemic; it refers to a period of difficulty where specific items cannot be obtained in sufficient amounts due to shortages in quantity supplied. This may encourage societal inequalities.  For example, in order to prevent a future lack of essential goods, higher income earners are better placed to “hoard” such goods, as the … Continue reading Price Controls on Essentials During the Pandemic

Unknown's avatarStanley GrewalLeave a comment
Economics, International

Interstellar Economics

In 1978 Dr Paul Krugman wrote a paper entitled The Theory of Interstellar Trade, supposedly to cheer himself up. Yet despite the self-described “silly” nature of the work, it contained serious analysis, and since being written has inspired several more works on the economic implications of interstellar travel. The chief issue that economists have grappled with is that of time dilation. In short, Einstein’s theory … Continue reading Interstellar Economics

Unknown's avatarMilo DennisonLeave a comment