This paper uses a large-scale database to test the link between corporate governance regimes (specifically, the varieties of capitalism literature), investment in training and economic performance. The evidence presented here does not match with common assumptions that countries can be...

America's securities markets constitute a central distinguishing feature of its brand of capitalism. What are their political origins? In contrast to arguments which point to business owners as determining the institutional foundations of America's political economy, this paper argues that...

Financialization describes the turn to speculative asset trading that has become increasingly central to economic life in recent decades. Critics argue this has occurred at the expense of the “real economy,” referring to production and trade. Critics further argue that finance’s normal...

Human progress, driven by technical advances, increases wealth and well-being in society. However, socioeconomic and technological progress does not always lead to general well-being of people in society. In particular, this study shows some inconsistencies of human progress, technology-driven,...

In the summer of 2012, I was invited to write a weekly opinion column for City A.M. newspaper. It is a free, business-focused newspaper, launched in 2005, and is distributed at more than 250 commuter hubs across London and the Home Counties, as well as 1,600 offices throughout the City, Canary...

It is hard to find a book that explains, simply and fairly, what capitalism is, how it works, and its strengths and weaknesses. The very word capitalism was coined as a term of abuse. And still today, most books on the subject remain hostile to capitalism, or paint a distorted, confused picture...

This paper proposes a new framework for studying the interplay between culture and institutions. We follow the recent sociology literature and interpret culture as a \repertoire", which allows rich cultural responses to changes in the environment and shifts in political power. Specifically, we...

Rising Real Gross Domestic Product Per Capita data indicates rises in living standards. Nonetheless, cultural pessimism is the received view. This paper makes a series of arguments that we should expect our cultural products (e.g. art or cuisine) to be on an upwards trajectory, just as RGDP per...

Our legacy financial infrastructure has both limited growth opportunities and contributed to the inequality of opportunities. Around the world, 1.7 billion are unbanked. Small businesses, even those with a banking relationship, often must rely on high-cost financing, such as credit cards,...

The early 21st century will be remembered for its shift in global economic power dynamics. In the past two decades, the Chinese government has fostered the growth of many of the world’s most valuable firms, advanced complete integration of Chinese companies in global supply chains, and...