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Open-minded citizens who are concerned about the potential impact of global warming on their lives, and on those of their children, are bombarded with wildly discordant information and recommendations. Perhaps few still doubt whether global temperatures are indeed increasing, but, beyond this minimal level of agreement, there remain conflicting, and often strident, views about virtually […]
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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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The research program that has dominated macroeconomic theory since the 1980s achieved its hegemony mainly because of its methodological claims of having ‘solid microeconomic foundations’. The core models of new Keynesian macroeconomics are based on intertemporal optimization by representative households, a ‘forward looking’ Phillips curve with nominal price stickiness and staggered priced setting, and rational […]
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The conventional premise for embracing law in the context of economic reform calls for a modern legal system as a prerequisite for economic development. The premise suggests that economic exchange between unfamiliar parties requires reliable and uniformly applicable norms and institutions, to protect the rights of economic participants and provide credible commitments for growth (secure […]
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I enjoy writing articles and books that integrate ideas, which resulted in my most recent book Encouraging Innovation: Cognition, Education, and Implementation. The first section of the book discusses the cognitive and social skills required for innovation – reasoning, problem solving, creativity, group decision making, and collaborative problem solving. The second section discusses education – […]
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Its been a busy six months since the launch of the UNU-WIDER-CUP Elements series in Development Economics in November 2022. Three titles have been published, the first was The 1918–20 influenza pandemic: A retrospective in the time of COVID-19, by Prema-chandra Athukorala and Chaturica Athukorala, which provides an analysis of the research from the last century […]
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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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