Tag Archives: economics

Food security and financial markets

FAO says that Food price volatility a major threat to food security: Concluding a day-long special meeting in Rome the experts recognized that unexpected price hikes “are a major threat to food security” and recommended further work to address their … Continue reading

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Estimating welfare: another measure

New NBER paper Beyond GDP? Welfare across Countries and Time by Charles Jones and Peter Klenow looks interesting.  They propose a new summary statistic for a nation’s flows of welfare that combines data on consumption, leisure, inequality, and mortality.  They … Continue reading

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How much is African poverty really falling?

Martin Ravallion, Director of the Development Research Group of the World Bank,responds to Maxim Pinkovskiy and Xavier Sala-i-Martin’s NBER paper that estimates a decline in African poverty.  He agrees that poverty is decreasing, but believes they are overstating their case. … Continue reading

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Economics as a complex systems science

An interesting interview of Paul Krugman by Edward Hugh is on A Fistful of Euros: E.H. : The late Sir Karl Popper used to contrast what he regarded as science with ideologies like Marxism and Psychoanalysis, because there seemed to … Continue reading

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Elinor Ostrom’s Nobel Prize in Economics

Our colleague, Lin Ostrom was just in Stockholm to receive her Nobel Prize. I was fortunate to be able to congratulate Lin Ostrom before her Nobel Lecture.  Her prize Lecture, Beyond Markets and States: Polycentric Governance of Complex Economic Systems … Continue reading

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Paradoxes of efficient market theory

Complex systems scientist Cosma Shalizi reviews economic journalist Justin Fox‘s book The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street for American Scientist magazine in the article Twilight of the Efficient Markets: The … Continue reading

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Income, fertility and the world’s demographic trajectory

The Economists looks at recent declines in fertility discusses current projections of world population, and how changes in a country’s demographic structure shape its economic development (but it doesn’t mention the role of urbanization).  In Fertility and living standards it … Continue reading

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World distribution of income

In a new paper, Parametric Estimations of the World Distribution of Income, Maxim Pinkovskiy and Xavier Sala-i-Martin revisit previous work by Sala-i-Martin, and estimate that globally income has substantially increased, reducing the number of people living in extreme poverty, and … Continue reading

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Elinor Ostrom wins Nobel Prize!

Huge congratulations to our colleague Elinor Ostrom who has just won the 2009 Nobel Prize in Economics “for her analysis of economic governance, especially the commons.”

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Krugman on Keynes and Uncertainty

Paul Krugman reviews Keynes: The Return of the Master by Robert Skidelsky in the Observer.  He writes: …there’s an alternative interpretation of what Keynes was all about, one offered by Keynes himself in an article published in 1937, a year … Continue reading

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