“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

Seb CarpaniniNovember 30, 2017March 27, 20231 Comment

Business and Technology, Environment, UK

The UK is facing an energy crisis

North Sea oil supplies are running out. Peak oil extraction has been surpassed. The government’s policy of heavily subsidising renewable energy has cost the taxpayer billions and pushed household electricity bills up by £17 a year on average. The pressure to meet targets for carbon emission reductions has left the government forcing the closure of all coal power stations by 2025. Without a plausible reaction … Continue reading The UK is facing an energy crisis

Edward SandySeptember 26, 2017March 27, 2023Leave a comment

Long Read, US

Please, Mr Trump, free trade is not evil

“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

Nurasyl ShókeyevSeptember 15, 2017March 27, 20232 Comments

Book Reviews, Development

“Poor Economics” by Duflo and Banerjee

Duflo and Banerjee’s Poor Economics is a developmental economics book which aims to change the way we think about alleviating poverty in developing countries, shifting our focus from the ‘big questions’ and ‘big policies’ towards evidence-based changes and nudges at the margin. It does this by clearly establishing the conditions in which the poor live and how they react to certain changes in their environment, … Continue reading “Poor Economics” by Duflo and Banerjee

Ed PenneySeptember 15, 2017March 27, 20231 Comment

Business and Technology, Finance and Markets

Is Blockchain the most important technology of our time?

Blockchain is said to be the technology which will have the greatest social impact over the next decade, more so than social media, Artificial Intelligence, and Big-Data. Moreover, this effect will not only occur in the developed world, but also in the developing one. Hearing this, you’d be forgiven for being sceptical, forgiven for wondering how this unknown Blockchain technology will become the most impactful … Continue reading Is Blockchain the most important technology of our time?

Benjamin MowinckelSeptember 13, 2017March 27, 2023Leave a comment

Business and Technology, Environment, UK

To burn or not to burn? Fuelling the future

The European Union has set the target for the energy consumption of all it’s member states to be 20% renewable by 2020. While currently Brexit is being negotiated, in 2015, the UK was given its own special target of 15% because of it’s its “low starting point”. The UK Great Britain has consistently lagged behind its European counterparts, ranking 24th out of 28 neighbouring states … Continue reading To burn or not to burn? Fuelling the future

Hugo GiddinsSeptember 12, 2017March 27, 2023Leave a comment

Environment, UK

Theresa May’s problematic pledge to cap energy prices

The case for a cap on energy prices has arisen after the ‘big six’ energy companies raised prices by up to 15% earlier this year, even alongside low and falling wholesale prices. Although these have been justified by the energy companies as the result of being forced into generating renewable energy, it has not been perceived in that light by the general public, making the pledge … Continue reading Theresa May’s problematic pledge to cap energy prices

Ed PenneySeptember 11, 2017March 27, 2023Leave a comment

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?

Seb CarpaniniSeptember 10, 2017March 27, 20233 Comments

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

Seb CarpaniniSeptember 10, 2017March 27, 2023Leave a comment