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It is easy to explain why countries with rampant corruption tend to have poor economic performance: corrupt officials steal funds from the economy and steer resources to easy-to-corrupt, wasteful projects. However, it is not easy to explain why some countries achieve high economic growth despite corruption. We offer an explanation: a high level of trust […]
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OECD countries adopt different models of healthcare financing. The health financing mechanisms incorporate not only opposing interests (some models favor the highest incomes, others the lowest) but even more diverse conceptions of illness and healthcare. Let us try to review the most common models of healthcare financing and, for each of them, try to understand […]
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Professor Nick Wilkinson, the author of Managerial Economics, took some time to answer our questions about inspiration, the digital revolution, and the rewards of teaching. The second edition of your textbook Managerial Economics is publishing later this month, what originally inspired you to write on this subject and how has that developed with this new […]
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Studying China can be contentious. I have been in China study seminars that were as confrontational as sessions of U.S. Congress. A primary reason for the contentiousness is that people study China from different perspectives. Here are two major perspectives: the China-centric and the other-country-centric perspectives. The China-Centric Perspective This perspective emerged in the late […]
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At first glance, the economy of a city, a country, and the entire world, seems to be something too complicated to understand, and even more so to predict. The purchase of a pair of sneakers in a sports store in San Antonio triggers a series of processes that begin with a stock replacement order at […]
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The book pulls together the key elements and issues about the transition to low carbon, climate-adapted economy in one volume. ‘Transitioning to a Prosperous, Resilient and Carbon-Free Economy: A Guide for Decision-Makers’ arrives at a decisive moment for the international efforts to tackle the climate crisis – in the wake of the pivotal International energy […]
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Often, we perceive economics as highly objective and functional science or system that is closely associated with material prosperity, economic development or progress, and consumption and transfer of wealth. We usually perceive economic science as being similar in nature to physics or biology, and given the modern division of sciences, such a view would not […]
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Q: What led you to start thinking about how software or robots might get legal personhood? A: It was two things, really. On one side, I started noticing that significant activities within existing organizations had become entirely automated but still had legal effects. For example, I have a colleague who has no idea how much […]
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