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A foundational objective of the Constitution of the United States is to “promote the general Welfare.” However, the Constitution does not define “general Welfare.” The Constitutional premise that the United States should promote the general welfare exemplifies frequent broad assertions that entities making societal decisions should aim to maximize social welfare. Such assertions may have […]
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Econometricians develop and use methods and techniques to model economic behavior, create forecasts, to do policy evaluation, and to develop scenarios. Often, this ends up in some advice. This advice can be a prediction for the future or for another sector or country, it can be a judgment on whether a policy measure was successful […]
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Central banks have not always been as ubiquitous or as economically and politically prominent as they are today. A century ago, some two-thirds of the world’s countries didn’t have one at all (see chart). Those who did took them less seriously: their functions were circumscribed, their mandates ambiguous, their allegiances divided between their commercial and […]
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Have we reached a plateau in our understanding of corruption? I believe so. It’s time to push the boundaries of this discourse, moving what is currently at the periphery of the debate to the forefront of our discussions. In my new book, I urge readers to challenge the prevailing notions of corruption that have dominated […]
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Imagine a crash site. Emergency services rush to the scene of the incident and begin to help. Firefighters, paramedics and police officers are bound to face a number of dilemmas as they carry out their activities. They have operational procedures in place for a range of emergencies, but every situation is unique, so do they […]
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Launched in 2015 and completed in 2022, the Institutional Diagnostic Project aimed at identifying institutional factors that affect development, reforms that may help address existing institutional constraints, and factors that can preclude or enable these reforms. Using the motto ‘institutions matter’ as a starting point, the project sought to establish how institutions matter and to […]
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It’s hard to believe, but an increasing number of retirement plans are allowing employees to invest their 401(k) saving in non-conventional assets – including crypto currency funds and meme stocks. On the one hand, limited exposure to esoteric investments can provide some diversification benefits, on the other hand, the investors who are interested in these […]
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Sustainability is on the agenda of many policymakers, businesses, civil society organisations and academia. The publication of the book Sustainable Value Creation in the European Union is therefore especially timely,as it offers insight on how the European Union has failed to achieve its overarching sustainability goals, and suggestions on how we should move forward. The […]
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