Why focus on production of goods, rather than on health, education and environment?
Via Graham Watson
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Graham Watson's curator insight,
June 6, 2019 2:39 AM
Excellent Long Read in the Guardian about 1980s economics - the monetarist revolution - and its implications for inequality. It could equally have been put on the Economic Method section of the board but it is a must-read, particularly for any prospective PPE-ists.
Graham Watson's curator insight,
February 26, 2019 8:28 AM
Can you believe this? Remarkable, isn't it.
Well, no. Not if you've heard his policy pronouncements, or witnessed his policymaking. But, apparently, the President of the US doesn't know much about Economics.
Watch for the inevitable tweets about 'how rich he is' and how this disproves Janet Yellen's observations...
Graham Watson's curator insight,
September 7, 2018 2:22 AM
Joseph Stiglitz argues that history has a lot to teach us, and that economists need to return to it, if they wish to head off the worst consequences of the next US downturn.
His view is that the so-called 'secular stagnation' associated with recent downturns makes a strong case for greater fiscal stimulus in the event of a downturn. It's not a view that will have much support from 'austerian economists' - see what I've done there - but, intellectually, it's an interesting argument, and asks some searching questions about what precipitated the last financial crisis and whether the solutions were appropriate.
Graham Watson's curator insight,
July 11, 2018 3:00 AM
An essential part of understanding why public goods aren't provided by the free market, or why it is difficult to tackle externalities, or why shareholders are reluctant to tackle managerial under-performance is a grasp of the Free Rider Problem.
This Marginal Revolution University clip might help.
Graham Watson's curator insight,
December 5, 2017 2:14 PM
The ever-affable Tyler Cowen looks at the various different models of the business cycle and how they explain the so-called Great Recession. More typically excellent stuff from Marginal Revolution University...
Graham Watson's curator insight,
November 15, 2017 3:17 AM
More excellence from Marginal Revolution University - this team you're invited to meet the monetarists, starting with its 'eminence grise' - Milton Friedman.
Graham Watson's curator insight,
October 26, 2017 4:55 AM
I pop this here because Yanis Varoufakis is a poster boy for the new Left and this book looks like it might well be worth reading, although on the evidence of all the review, I know most of the examples cited. That said, it won't do any harm.
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Graham Watson's curator insight,
June 26, 2019 3:39 AM
The Guardian rejoices in the rise of left-wing economics: with the left seemingly inheriting the policy space vacated by neoliberalism. Excellent stretch and challenge stuff.
Graham Watson's curator insight,
May 24, 2019 4:01 AM
Richard Reeves is more of a historian than economist, but this is a fantastic read about the nature of market capitalism that echoes Marx's view that capitalism, ultimately, sows the seeds of its own destruction.
It is a great piece of writing and really gets you thinking about what it is that capitalism is really about.
Graham Watson's curator insight,
December 3, 2018 10:27 AM
This Joseph Stiglitz piece takes the Project Syndicate prize for Money for Old Rope articles. Nevertheless, if you've not come across the debate before, you might ask whether GDP is a good measure of subjective well-being, and, if it isn't, why we continue to use it.
Graham Watson's curator insight,
August 5, 2018 9:15 AM
Is this true? And do I feel threatened by it?
In part, yes. I work in education, but I'm of the view that you could have said that same about any cohort of undergraduates or graduates, as the baton passes from one generation to another. Do they know as much as us? What is to blame for this?
I don't even think this is economic-specific either. I think that its chronocentrism - we've forgotten the state of our own education when we left university. Did we really know that little then? The answer, I fear, is probably 'Yes'.
Graham Watson's curator insight,
November 29, 2017 3:06 AM
More first-class economics: an Austrian anaylsis of the business cycle via Marginal Revolution University. It's Hayek to the max.
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This Joseph Stiglitz piece takes the Project Syndicate prize for Money for Old Rope articles. Nevertheless, if you've not come across the debate before, you might ask whether GDP is a good measure of subjective well-being, and, if it isn't, why we continue to use it.