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Economists are not known for their literary imaginations. Flip through any economics textbook and you’ll find a barrage of terms like the ‘Philips curve’ and the ‘Fisher effect’. The jargon is simple enough — empirical relations are usually named after the person who discovered them....
Persistent link: https://www.econbiz.de/10014429865
Think of this question as a sword — a sharp piece of steel that cuts through bullshit. In this post, we’ll use it to slice through business-press bullshit about the stock market. You know the stuff — the ubiquitous puff pieces that gush about rising stock prices, as though they benefit...
Persistent link: https://www.econbiz.de/10014429866
inequality from Forbes magazine's listing of billionaires and compare its effect on growth to the effects of income inequality … billionaires acquired wealth through political connections, the effect of politically connected wealth inequality is negative …
Persistent link: https://www.econbiz.de/10010329076
is enormous: billionaires. We explore the relationship between economic development, institutions, and these contrasting … ones consistent with billionaires. Further, only the latter are consistent with the institutions that underlie economic … billionaires. But self-employed entrepreneurs don't. Where private property rights are weakly protected and interventionist …
Persistent link: https://www.econbiz.de/10010320224
The planet has a billionaire problem. According to Oxfam, the world’s billionaires have more combined wealth than the … billionaire class. But how do we make that happen? We think that part of the answer is to understand billionaire’s network of … control. Many billionaires are happy to have their net worth tracked by Forbes — they treat it as an accumulation horse race.1 …
Persistent link: https://www.econbiz.de/10014299393
. Forget about character traits and personal histories. We don’t need them. To predict how many billionaires a country has, we …
Persistent link: https://www.econbiz.de/10014429867
The rich get richer. It’s a phrase that packs a lot of punch. It’s potent rhetoric, yet surprisingly accurate at describing how rising inequality plays out. Of course, there’s nothing inevitable about the rich getting richer. We just happen to live in an age of growing corporate despotism....
Persistent link: https://www.econbiz.de/10014429869
During the pandemic, the world’s billionaires increased their net worth to unprecedented historical heights. This was … caused by the global health crisis. Whether billionaires have profited during the pandemic, or whether billionaires have … billionaire wealth. In the third section, I briefly consider whether billionaires should exist and canvass some recent proposals …
Persistent link: https://www.econbiz.de/10014432069
Aki, a man enamoured with life and enchanted by animals – including humans of different varieties – pays a visit to his friend, the veterinarian. The vet tells him of two seniors who suffer from depression, and Aki is quick to raise their spirits and warm up their aching bodies. He hangs the...
Persistent link: https://www.econbiz.de/10011644939
Nicolas Dutot (1684-1741) is an important figure for the history of economic thought, as a pioneer in monetary theory and price statistics, and for economic history as a chronicler of John Law's System. Yet until recently very little about him was known, some of it incorrect. I present extensive...
Persistent link: https://www.econbiz.de/10010292120