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
Since 1979 China’s income per capita has increased by a factor of 37 from $272 to $10 099. This means that China has gone from a low-income country to a high-ranking middle-income country in 40 years, (a high-income country has a per capita income of $12 536 or more). In the first three decades of this huge growth, China grew at an average of 9-10% … Continue reading China’s Growth
As vaccines are distributed and the end of the COVID-19 era seems more certain, the debate over how the pandemic will affect the general price level has become more prevalent among economists. Could the pandemic put an end to years of low inflation? First, monetarist theory argues that given the vast amounts of monetary stimulus from government debt, inflation is inevitable. Government debt in the … Continue reading Inflation and the Pandemic
Never before in human history have there been as many people alive as there are right now. The human population had been gradually increasing for the last couple of millennia, until there was an explosion in growth in the 19th century due to rapid medical and economic progress, brought about by the Scientific and Industrial Revolutions. As a result, the number of people has skyrocketed … Continue reading Overpopulation: Should we be worried?
The Olympics, Wimbledon, The British Open. Just a few in a long list of global sporting events that have been postponed indefinitely or cancelled due to the global outbreak of Covid-19. The impact on athletes, coaches, staff and even spectators has been significant. Furthermore, this pandemic has led to devastating losses for the various financial stakeholders of these events, such as sponsors and organisers. However, … Continue reading Running for Cover: Insurance and Covid-19
Growing nationalist sentiment and fears over security are giving rise to an internet broken between borders. It could spell the end for the world wide web as we know it. Continue reading The End of the World Wide Web?
This essay analyses the causes and consequences of the UK’s current account deficit, the highest in history.
Continue reading The UK current account deficit is at a historic high. We should be worried
“Few propositions command as much consensus among professional economists as that open world trade increases economic growth and raises living standards.” – Nicholas Mankiw, the Robert M. Beren Professor of Economics at Harvard University, once said of free trade. Although this view has been adopted by an overwhelming majority of economists (including Adam Smith himself), it has not experienced popularity among the Western electorate in … Continue reading Please, Mr Trump, free trade is not evil
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?
This essay examines Mr Osborne’s decisions and actions in terms their economic and social impacts on the UK. Continue reading Austerity was a misguided policy
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