Articles

The Idea That Businesses Exist Solely to Enrich Shareholders Is Harmful Nonsense

As the Nobel laureate economist Robert Solow noted in 1987, computers are “everywhere but in the productivity statistics.” Since then, the so-called productivity paradox has become ever more striking. Automation has eliminated many jobs. Robots and artificial intelligence now seem to promise (or threaten) yet more radical change. Yet productivity growth has slowed across the advanced economies; in Britain, labor is no more productive today than it was in 2007.

How a Banking Union Has Created Deep Divisions that Undermine the Eurozone’s Stability

Why some goods and services should stay in the public domain

This blog post looks at the aggregate picture and collates some micro evidence in a more robust estimating framework to shed light on this question.

“The humility to accept that economic propositions cannot be universal would save us from self-defeating arrogance.” Economist Amit Bhaduri adds his perspective to our Experts on Trial discussion.

In his 2017 presidential address to the National Economic Association, Professor Darrick Hamilton warned that treating economics as a morally neutral ‘science’, and the discipline’s limited attention to structural barriers and overemphasis individual agency, has resulted in bad economics, and bad policy particularly as it relates to racial disparity.

In the age of Adam Smith, an economics that masqueraded as natural science and excluded the human condition actually suited the interests of the landed and the wealthy

Eurocentric modernism has unhinged us from our human nature, argues Rajani Kanth in his new book

Austerity has nurtured resentments that will likely make the populist right PVV the biggest winner in the March 15 election — but without the majority or the allies needed to govern