Monthly Archives: August 2018

The dangers of the global trade war for the UK

Since 2016, two of the world’s largest economies – those of the US and the UK – have made major shifts away from global economic integration. First, the British electorate voted to leave the EU. Since then, the Trump administration has sparked a global trade war which currently shows no signs of dissipating, with tariffs having already been imposed […]

  • Permalink Gallery

    The antitrust case against Android as viewed by a company insider

The antitrust case against Android as viewed by a company insider

In a recent Vox column, six antitrust consultants describe the European Commission’s case against Android, hailing it as a “milestone” of antitrust for the telecommunications industry (Caffarra et al., 2018).  In fact, it is more of a millstone than a milestone.

The colloquial definition of “millstone” is a “heavy burden”, and of course the case is a burden for Google. But it is […]

  • Permalink Gallery

    How platforms can help their contract workers make decisions in uncertain environments

How platforms can help their contract workers make decisions in uncertain environments

Managers at a firm have autonomy to make operational decisions based on their specific contextual knowledge. The firm’s knowledge may complement the manager’s, adding value through advanced tools based on global information. Recently, firms in the sharing economy have implemented systems to help their service providers: the ride-sharing platform Uber tells drivers where demand may be increasing while the […]

  • Permalink Gallery

    Social resources matter — we shouldn’t assume that only money talks

Social resources matter — we shouldn’t assume that only money talks

Everyone knows that money matters and most people would accept that social resources (relationships and identities) matter too, though in what ways and how much is perhaps less obvious. In a couple of recent pieces of research (here and here) we report on evidence of surprisingly high valuations of social resources and that different personality types benefit differently from […]

August 15th, 2018|CPNSS, Economics|1 Comment|
  • Permalink Gallery

    When EU university researchers lost the full rights to their innovations

When EU university researchers lost the full rights to their innovations

University workers contribute not only through research and teaching activities, but may also start successful high-technology companies (e.g., Google and Genentech) and create valuable intellectual property (e.g., the Hepatitis B vaccine and the pain medication Lyrica). Moreover, universities can be important foundations for local innovation clusters, such as Silicon Valley (Bresnahan et al., 2001).

Several European countries, observing the growth […]

Is happiness a consequence or cause of career success?

Across the lifespan, society often pushes a subtle message with a basic formula: Work hard, become successful, then you’ll be happy. We hear it from our parents, teachers, employers, and even television ads. After a while, this way of thinking can become automatic. “When I graduate from college … When I land my dream job … When I make […]

  • Permalink Gallery

    California Greenin’: How the Golden State Became an Environmental Leader – Book Review

California Greenin’: How the Golden State Became an Environmental Leader – Book Review

California Greenin’: How the Golden State Became an Environmental Leader. David Vogel. Princeton University Press. 2018.

Find this book: 

Recoiling from our screens – battered and bruised by news of compounding horrors – we realise this is not a drill. We urgently need to tackle climate change, brutal xenophobia, resurgent authoritarianism and gutting austerity. Many of us are protesting, marching, publicly […]

August 12th, 2018|Book Review|0 Comments|
  • Permalink Gallery

    For the first time in a century, there is no British party which is clearly pro-business

For the first time in a century, there is no British party which is clearly pro-business

Politics used to be easy for British business. There was really only one relevant policy dimension (left versus right) and really only one party worth supporting (the Conservatives). The role of the state in the economy and the management of inequality had structured British politics since the first mass-suffrage elections. Although the distance between the two parties was constantly […]

  • Permalink Gallery

    When machines become sentient, we will have to consider them an intelligent life form

When machines become sentient, we will have to consider them an intelligent life form

For most of us, our understanding of robots and artificial intelligence (AI) is drawn more from science fiction than from fact. Intelligent robots are often portrayed as either a virulent threat to humanity, as seen in the Terminator series of films or in Isaac Asimov’s I, Robot, or a socially beneficial tool, as with the Star Wars robots R2-D2 […]

  • Permalink Gallery

    How the media influence investors’ reactions to corporate misconduct

How the media influence investors’ reactions to corporate misconduct

What happens to corporations that misbehave? Are they all punished? Are they all punished in the same way? Despite the cases that attract significant media attention and the potential legal consequences of misconduct, there is no guarantee that all corporations that misbehave will face the same punishment (or even any punishment).

One of the more visible types of punishment, and […]

August 9th, 2018|Finance|0 Comments|
  • Permalink Gallery

    Melting ice caps will open the northern sea to commercial traffic and change world trade patterns

Melting ice caps will open the northern sea to commercial traffic and change world trade patterns

Arctic ice cover has been shrinking as a result of global warming. Besides the important and critical environmental and economic effects of melting ice caps, a side effect is to open the northern sea route for high volume commercial traffic. This shipping route will connect East Asia – Japan, South Korea, Taiwan and China – with North-western Europe through […]

  • Permalink Gallery

    ICOs: raising money by issuing cryptocurrency, with less regulation

ICOs: raising money by issuing cryptocurrency, with less regulation

Back in the day — I remember it well, it was only ten years ago! — when a large company wanted to raise money it would almost certainly issue equity or debt. These securities would then be exchanged with investors for the relevant currency, with the investors expecting higher cash flows in return at a later date. From my desk […]

  • Permalink Gallery

    Board directors are supposed to have broad knowledge, but are they also narrow experts?

Board directors are supposed to have broad knowledge, but are they also narrow experts?

We all know about the experts who know so much about so little, and so little about so much. Scientists and artists are prime examples of specialised occupations whose members are suspected of being impractical in daily life.

Managers, on the other hand, are supposed to have broad and practical knowledge, and to be flexible in what they do. These […]

  • Permalink Gallery

    Masters of Craft: Old Jobs in the New Urban Economy – Book Review

Masters of Craft: Old Jobs in the New Urban Economy – Book Review

Masters of Craft: Old Jobs in the New Urban Economy. Richard E. Ocejo. Princeton University Press. 2018.

Find this book: 

Sam Mature, a Chicago barber, was one of the dozens of Americans that Studs Terkel interviewed for Working, his collection of oral histories published in 1974. Working (subtitled ‘people talk about what they do all day and how they feel […]

August 5th, 2018|Book Review|0 Comments|
  • Permalink Gallery

    Don’t dismiss the possibility of a cut in the Bank of England’s policy rate

Don’t dismiss the possibility of a cut in the Bank of England’s policy rate

Bank of England’s policymakers have unanimously voted to raise the policy rate from 0.5 per cent to 0.75 per cent. The hike, which was widely anticipated by the financial markets, made critics of Bank of England Governor Mark Carney rethink their accusations that the Governor behaves like an “unreliable boyfriend” in the sense that he keeps hinting an interest rate […]

August 4th, 2018|Finance|0 Comments|
  • Permalink Gallery

    The changing dynamic of career development in the age of portfolio careers

The changing dynamic of career development in the age of portfolio careers

The career landscape of the 21st century, characterised by work interruptions, opt-outs, and temporary contingent work assignments, requires that we think differently about linear careers. Until now, much of the career literature has been based on men in the twentieth century who had linear careers in a single corporation or industry. However, men and women in the 21st century […]

  • Permalink Gallery

    Two wrongs make a right: Why the trans-Atlantic antitrust rift is necessary in the global economy

Two wrongs make a right: Why the trans-Atlantic antitrust rift is necessary in the global economy

Less than week after the European Commission hit Google with a record £3.9 billion fine for abusing its dominant position in Android, Google’s quarterly earnings report came in: a noticeable dip in profits — down to $2.8 billion from the expected $7.8 billion—but a rise in share price—up almost 6 per cent.

Investors seemed to shrug off the giant fine […]

  • Permalink Gallery

    The potential to automate low-wage jobs in the U.S. and its impact on workers

The potential to automate low-wage jobs in the U.S. and its impact on workers

The extent to which firms can substitute labour with technology is a longstanding question that has grown in policy importance as automation technology spreads to a larger range of jobs. In our forthcoming paper, we contribute to this important issue by quantifying the potential to automate low-wage jobs in the U.S. labour market and examining its impact on low-wage […]