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The Global 1970s and the Echo of the Great Depression

Taylor, Alan M. - 2009

The Great Depression ushered in a long era of deglobalization that lasted for many decades. An old conventional wisdom (e.g. Polanyi) argues that the common aspect of this shock across all countries, a deep depression, can explain the large and persistent global shift away from orthodox liberal...

Persistent link: https://www.econbiz.de/10012463174

Macrofinancial History and the New Business Cycle Facts

Jordà, Òscar - 2016

In advanced economies, a century-long near-stable ratio of credit to GDP gave way to rapid financialization and surging leverage in the last forty years. This "financial hockey stick" coincides with shifts in foundational macroeconomic relationships beyond the widely-noted return of...

Persistent link: https://www.econbiz.de/10012455937

Globalization in historical perspective

Bordo, Michael D. (ed.); Taylor, Alan M. (contributor); … - 2003

Persistent link: https://www.econbiz.de/10013480751

Learning from Ricardo and Thompson : Machinery and Labor in the Early Industrial Revolution, and in the Age of AI

Acemoglu, Daron; Johnson, Simon - National Bureau of Economic Research - 2024

David Ricardo initially believed machinery would help workers but revised his opinion, likely based on the impact of automation in the textile industry. Despite cotton textiles becoming one of the largest sectors in the British economy, real wages for cotton weavers did not rise for decades. As...

Persistent link: https://www.econbiz.de/10014544695

Theory, General Equilibrium and Political Economy in Development Economics

Acemoglu, Daron - 2010

I discuss the role of economic theory in empirical work in development economics with special emphasis on general equilibrium and political economy considerations. I argue that economic theory plays (should play) a central role in formulating models, estimates of which can be used for...

Persistent link: https://www.econbiz.de/10012462707

The Rise and Decline of General Laws of Capitalism

Acemoglu, Daron; Robinson, James A. - 2014

Thomas Piketty's (2014) book, Capital in the 21st Century, follows in the tradition of the great classical economists, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We argue that general economic laws are unhelpful as a guide...

Persistent link: https://www.econbiz.de/10012457900

Political Limits to Globalization

Acemoglu, Daron - 2010

Despite the major advances in information technology that have shaped the recent wave of globalization, openness to … suggests that a particular threat and a limiting factor to globalization and its future developments may be militarist …

Persistent link: https://www.econbiz.de/10012462958

Productivity Differences

Acemoglu, Daron - 1999

Many technologies used by the LDCs are developed in the OECD economies, and as such are designed to make optimal use of the skills of these richer countries' workforces. Due to differences in the supply of skills, some of the tasks performed by skilled workers in the OECD economies will be...

Persistent link: https://www.econbiz.de/10012471932

Globalization, Trade, and Development : Some Lessons From History

Taylor, Alan M. - 2002

Recent research in international economic history has opened up new lines of enquiry on the origins of globalization …

Persistent link: https://www.econbiz.de/10012469380

Made in America? The New World, the Old, and the Industrial Revolution

Clark, Gregory - 2008

have placed an emphasis on the importance of trade with New World colonies, and the expanded supply of raw cotton it … provided. We test both hypotheses using calibrated general equilibrium models of the British economy and the rest of the world … trade with the rest of the world, not the American colonies, that allowed Britain to export its rapidly expanding textile …

Persistent link: https://www.econbiz.de/10012464570

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