Articles

What can we learn from the Vietnamese, Cuban, Rwandan, and Syrian refugees crisis?

More on substance, coherence, and relevance in the Eurozone debate.

The current bout of exchange rate anxiety is really just a symptom of the fact that China’s transition from an export-led growth strategy to one propelled by domestic consumption is proceeding far less smoothly than hoped.

For most economists and indeed for social scientists in general such a question induces shudders as already asking this seems wrong – aren’t governments more prone to failures than markets, and aren’t governments supposed to provide basic and stable institutions for markets to function?

A budget approach cloaked in the aura of science and technical jargon became a tool of manipulation.

“Governments propose, markets dispose,” as Charles Kindleberger liked to say.

The United States economy has come apart, with the rich getting richer and workers’ incomes not advancing at all.

Public funding behind the technology is the secret ingredient.

The Institute extends its congratulations to Philip Lane, who has been named to succeed Patrick Honohan as the Irish central bank chief, and inherit his role on the council of the ECB.

A student of microeconomics learns that any desirable efficient market allocation can be sustained by a competitive equilibrium (the Second Theorem of Welfare Economics), given appropriate lump-sum wealth redistributions. This is typically understood as a means to correct unfair market outcomes. What are the real world implications of the second theorem? How well does it address distributional concerns?