Wednesday , October 21 2020
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Tag Archives: Economics

Public debt — how much is too much?

Public debt — how much is too much? .                                                                                                                              [embedded content] Public debt is normally nothing to fear, especially if it is financed within the country itself (but even foreign loans can be beneficent for the economy if invested in the right way). Some members of society hold bonds and earn interest on them, while others pay taxes that...

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Le ragioni del “No” all’euro: l’esempio della Svezia

Le ragioni del “No” all’euro: l’esempio della Svezia Per Lars Pålsson Syll l’eurozona non è mai stata in grado di mostrare significativi aumenti a livello di crescita economica dalla sua creazione, ed anzi non ha fatto che accentuare i problemi che in alcuni casi, vedi Grecia, hanno portato a dei veri e propri disastri. Uno degli argomenti portati a favore dell’euro era che, in caso di adesione, ci sarebbe stata una convergenza a lungo termine in termini di...

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IPA’s weekly links

Guest post by Jeff Mosenkis of Innovations for Poverty Action I’m working on a new email newsletter, with colleagues including Rachel Strohm (who has been a well-respected dev blogger for years). IPA’s tracking studies on COVID related issues in low- and middle-income countries (along with survey instruments and funding opportunities) on our RECOVR research hub (please submit yours, and let colleagues know). Every other week we’re highlighting some new results from there and elsewhere we...

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Truth and science

 In my view, scientific theories are not to be considered ‘true’ or ‘false.’ In constructing such a theory, we are not trying to get at the truth, or even to approximate to it: rather, we are trying to organize our thoughts and observations in a useful manner. Robert Aumann What a handy view of science. How reassuring for all of you who have always thought that believing in the tooth fairy make you understand what happens to kids’ teeth. Now a ‘Nobel prize’ winning economist...

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Le prix Nobel d’économie 2020

Le prix de la Banque de Suède en mémoire d’Alfred Nobel décerné lundi 12 octobre aux deux économistes américains Paul Milgrom (72 ans) et Robert Wilson (83 ans) renoue avec la tendance majoritaire des attributions du « prix Nobel d’économie » depuis sa création, en 1969 : le couronnement d’une longue carrière d’économistes, le plus souvent nord-américains, vouée à l’élaboration de modèles théoriques d’amélioration du fonctionnement des marchés dans le sens d’une plus grande...

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When disaster strikes the poorest nations, the IMF guarantees to make it worse

When a nation or region is experiencing the worst crisis the IMF always comes to the party and makes it worse. The latest evidence from those who study the detail of IMF interventions across the globe have found that the IMF has imposed harsh conditionalities (healthcare spending cuts, cuts to jobless assistance, cuts to public service wages and employment) in 76 out of the 91 loans it has extended to nations in peril as a result of the pandemic. On the other hand, data show that the wealth...

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Trade, saving and an economic disaster

 The UK is running a trade surplus. No, really, I am not joking. This is from the ONS's latest trade statistics release:The UK total trade surplus, excluding non-monetary gold and other precious metals, increased £3.8 billion to £7.7 billion in the three months to August 2020, as exports grew by £21.4 billion and imports grew by a lesser £17.5 billionIt's the first time the UK has run a trade surplus since the late 1990s: And if you were thinking this was because of the lockdown, you would...

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Studying economics — a total waste of time

Studying economics — a total waste of time One may perhaps, distinguish between obscure writers and obscurantist writers. The former aim at truth, but do not respect the norms for arriving at truth, such as focusing on causality, acting as the Devil’s Advocate, and generating falsifiable hypotheses. The latter do not aim at truth, and often scorn the very idea that there is such a thing as the truth … These writings have in common a somewhat uncanny...

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Economics education needs a revolution

Economics education needs a revolution You ask me what all idiosyncrasy is in philosophers? … For instance their lack of the historical sense, their hatred even of the idea of Becoming, their Egyptianism. They imagine that they do honour to a thing by divorcing it from history sub specie æterni—when they make a mummy of it. Friedrich Nietzsche Nowadays there is almost no place whatsoever in economics education for courses in the history of economic...

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