"An unusual consensus has developed among economists that the 'long boom' before 2008, and the subsequent crisis and recession, resulted from a global excess of capital. Over-supply of saving drive down capital costs, encouraging excessively risky investment and preventing the scrapping of...

The scepticism of economists—mainstream and heterodox—towards "new economy" ideas goes beyond the indignation of long-established traditions being told to rewrite their basic rules. With its emphasis on trade through interand intra-corporate networks, the "new economy" presents a model of...

Energy security requires the affordable, reliable and sustainable supply of energy, for commercial and household use. A low-cost and uninterrupted energy supply is fundamental for economic development and political stability. China's emergence as a major world industrial producer means that its...

Noting that the contribution of R&D is being integrated into national accounts just as these come under criticism for potentially overstating output, this paper uses a re-assessment of the concept of value to examine scope for under- and over-statement in conventional GDP. It assesses ways in...