Tag economics

Why Is Climate Change An Economic Problem?

William D. Nordhaus— Begin by stepping back and asking a basic question. Why is global warming such a special problem? Why is it a global problem and not a national problem or a household problem? Why is it such a persistent problem? The economics of climate change is straightforward. Virtually

Continue reading…

The Death of Entrepreneurship Is Greatly Exaggerated

Scott A. Shane— We Americans aren’t creating new businesses with employees at the rate we once did. The formation of new employers has fallen below its replacement rate and many policymakers and pundits have become worried. Lesser entrepreneurship would mean a more rigid economy, less able to respond to shocks.

Continue reading…

Workers of the World

Niall Kishtainy—  A spectre is haunting Europe – the spectre of communism.’ This is the first line of The Communist Manifesto, which was written in the middle of the nineteenth century and is perhaps the most famous political pamphlet ever. The spectre – something scary and menacing – was the threat to

Continue reading…

The Four Horsemen of Capitalist Decline

Fredrik Erixon and Björn Weigel— Now, however, capitalism seems to have lost its founding spirit of enterprise. Four forces that guided the economy from the 1970s assisted in reducing the scope for experimentation and innovation. They are not the Four Horsemen of the Apocalypse, nor were they all undesirable, but

Continue reading…

Grave New World: A Q&A with Stephen D. King

To mark the publication of Stephen D. King’s Grave New World: The End of Globalization, The Return of History, we chatted with Stephen about the implications of globalization, and what the return of history means for the western economy and nation states. 1. The subtitle of Grave New World is “The End of

Continue reading…

An A to Z of Economics: Part II

Niall Kishtainy— Welcome to part two of Niall Kishtainy’s A-Z of Economics. Compiled exclusively for the Yale Books Blog to celebrate the publication of A Little History of Economics, Kishtainy’s A-Z brings to light the stories behind key economic terminology. Read on for M-Z, and if you missed A-L, you can read it

Continue reading…

An A to Z of Economics: Part 1

Niall Kishtainy— To celebrate the publication of A Little History of Economics, we asked its author—writer, economist and historian Niall Kishtainy—to explain some of the most important staples of economic terminology for us in a handy A-Z of Economics. This post originally appeared on the Yale University Press London blog.  Read on

Continue reading…

The Gift Economy of the Earliest Christians

Thomas R. Blanton IV— The apostle Paul, a Jewish preacher of the “good news” of Jesus of Nazareth, promoted a “spiritual economy” within the small groups of the early Christian movement in the middle of the first century CE. Although at first blush the phrase “spiritual economy” might appear to be

Continue reading…

Who Owns Sovereign Wealth?

Angela Cummine— Last week, Alaskans received their annual dividend check from the Alaska Permanent Fund. The $53 billion savings fund was set up in 1976 to preserve and augment a share of the state’s resource revenues for future generations through prudent investment in financial markets. Every year since 1982, a

Continue reading…

A Closer Look at the Wells Fargo Scandal

Stephen Davis— If you need an example of how the financial system has failed the test of public trust, look no further than Wells Fargo. But it is vital to go deeper than the headline story about fraudulent cross-selling into systemic miscarriages of governance and shareholder oversight. The scandal appears

Continue reading…