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Estimating welfare: another measure
New NBER paper Beyond GDP? Welfare across Countries and Time by Charles Jones and Peter Klenow looks interesting. They propose a new summary statistic for a nation’s flows of welfare that combines...
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Food security and financial markets
FAO says that Food price volatility a major threat to food security: Concluding a day-long special meeting in Rome the experts recognized that unexpected price hikes “are a major threat to food...
View ArticleLin Ostrom’s Life After Winning A Nobel Prize
A fun NPR interview with Elinor Ostrom on Life After Winning a Nobel Prize: KELLY: Now, to a Nobel of a more recent vintage. Elinor Ostrom won the Nobel Prize in economics last year for her analysis of...
View ArticleSeed’s global reset on tipping points and systematic risk
Seed magazine has a special issue on new approaches to interconnected and complex challenges. It also features interesting articles on TEEB and ecological economics, new modes of science, forecasting,...
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Plutocracy in the USA: four views
1) From State of Working America an interactive graph of changes in average income and the top percentiles of US income. From 1939 to 1973, during the 24 years from the start of WW2 to the first oil...
View ArticleHirschman’s trespassing creativity
Economist Rajiv Sethi writes an appreciation of the great economist Albert Hirschman on his 96th birthday. In The Self-Subversion of Albert Hirschman he writes: Interesting lives make for interesting...
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Controversies around the Social Cost of Carbon
What is the social cost of carbon? That is,the monetary value of the long-term damages done by greenhouse gas emissions? Frank Ackerman from the Stockholm Environment Institute U.S. Center, recently...
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The developing world economies rise following financial crisis
From the Economist, the GDP per person has risen rapidly in some developing countries while stagnating in rich countries:
View ArticleAnalysis of impact of recent global crises on development
In the Guardian’s Poverty Matters blog Lawrence Haddad, director of the Institute of Development Studies (IDS) in the UK, writes What impact have the global crises had on development thinking? He...
View ArticleThe tragedy of a common currency
The current crisis of the Euro emphasizes some basic lessons from the study of resilience of dynamic systems. Attributes of complex systems that enhance resilience are diversity, redundancy and...
View ArticleResilience and the Euro – networks
The New Scientist recently had an article by Debora MacKenzie on resilience and the Euro. She writes: … The diversity of a network’s components and the density and strength of its connections – called...
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Resilience and Euro – diversity
On MacroEconomic Resilience ex-banker Ashwin Parameswaran draws upon Holling’s pathology of natural resource management and the work of Hyman Minsky (a connection I’ve mentioned previously and Ashwin...
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