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Contemporary Artificial Intelligence (AI) is a learning technology that has come into prominence at the same time that humans are learning more about the nature of intelligence. These learning processes mean that what AI will eventually evolve into—and when—is unknown. This uncertainty is one reason why there is much hype and hysteria surrounding the technology. […]
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Politicians frequently derail peace efforts by prioritizing short-term political gains over long-term stability. Take the example of Nicaragua, where during the Cold War the United States propped up the infamous Contra rebel organization that fought the Soviet-backed Sandinista government. The ensuing war lasted nine long years, and led to a large death toll. My new […]
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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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Entrepreneurship has been the theme of my research for four decades. My first article on entrepreneurship was published in 1984. I must confess, however, that I had not truly understood the nature of entrepreneurship until a few years ago. The reason is that I was trapped in mainstream (neoclassical) economics. I had always been a […]
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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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Philanthropy is all too often misunderstood, mis-represented and subject to broad generalisations that obfuscate its potential, particularly in relation to the Global South. As Professor Beth Breeze outlines in her book, In Defence of Philanthropy, “Philanthropy is complex, messy and imperfect because it is an all-too-human response to enduring and intractable problems.” And yet, private capital […]
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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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