Tag Archives: Innovation

Introduction< The 2024 Sveriges Riksbank Prize for Economic Sciences has been awarded to Daron Acemoglu, Simon Johnson and James Robinson for work on the influence of institutions on long-term economic progress and growth. Much has been written about this, for instance by ´Pseudoerasmus´ here and by Radford here. In this article, an ´in-depth´ analysis of a part of the work leading to the the prize, an analysis of the long-term impact of the Dissolution of the English monasteries...

What do you do when your economy is in the doldrums and you need to kickstart growth?Why, you put more people to work, that's what you do.This has been the Tories’ strategy since 2010. The sustained attack on welfare benefits has all been focused on “making work pay” - encouraging, and at the margin forcing, people with illnesses, disabilities and caring responsibilities into paid work. But there is another way of putting more people to work, and that is to import them. In a new report, the...

Guest post by Jeff Mosenkis of Innovations for Poverty Action. You can register for the big NEUDC development conference, featuring an opening address by Penny Goldberg, held Fri Nov 6 – Sat Nov 7, now all online! You can also still submit an abstract (500 word limit) for a lightning round session, deadline Monday! Cool paper comparing 150 education interventions from Noam Angrist, David Evans, Deon Filmer, Rachel Glennerster, F. Halsey Rogers and Shwetlena Sabarwal. They use a common...

Important. Andrew Batson summarizes Charles Kindleberger's insight into development in terms of ability to transform the economy — what promotes it and what hinders it.Neoclassical economics assumes flexibility among the factors of production and also flexibility within them, resulting in immediate response to economic "laws," e.g., based on natural market forces that automatically generate spontaneous order (general equilibrium).However, economic forces are not independent of social and...

The figure below, from a recent piece in the Wall Street Journal, shows the catching up of the South. Note that most occurs after the New Deal, and up to the 1980s. The piece emphasizes the reversal, with divergence since the last recession. This suggests that the New Deal and the period in which the segregationist policies were eliminated were a period of prosperity for the South. The catching up story is one associated mostly to State action, since the New Deal in many ways was a sort...

A few years ago, China overtook the U.S. and other innovative countries in terms of patent applications. More recently, it also became the leader in patent grants. But does this mean China is now the world leader in innovation? A recent Economic Synopsesessay explores this idea.... Short and informative.FBRSL — On the EconomyHow Innovative Is China?

Why do we think the world is about to see the resurrection of the “comrade culture club” over the next ten years?  Make no mistake; there will be a visceral political reaction to the coming acceleration of labor disrupting technology. We got a little taste of it in the 2016 election. Just wait until it hits the doctoring, lawyering, and accounting class.... Technology replaced the farmers. Now it is coming for the industrial workers and many types of service workers, too. Soldiers and...

Chinese engineering has become so advanced that German jet engines could soon get a major boost from China. Officials in China have begun talks to sell sophisticated aerospace technology and manufacturing equipment to Germany for the production of high-performance jet engines.... Discussions for the sale are still in the early stages, but even the possibility of an agreement with Germany, which created the world’s first production-ready jet engine and has long been revered for its design...

Two books on President Xi Jinping's shelf drew public attention from both home and abroad immediately after they were seen in the video of Xi's New Year speech. The two books were about artificial intelligence－The Master Algorithm: How the Quest for the Ultimate Learning Machine Will Remake Our World by Pedro Domingos and Brett King's Augmented: Life in the Smart Lane. The Master Algorithm, published in 2015, describes how machine learning is remaking business, politics, science and war....

Asia TimesDemand for AI talent in China doubles in 2017 China tops mobile game market worldwide China aims to lead international industry standards