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    Accounting played a central role in the rise of financial capitalism as we know it today

Accounting played a central role in the rise of financial capitalism as we know it today

Since the pioneer writings of Weber and Sombart, the debate on the nexus between accounting and the rise of capitalism has caused a lot of ink to flow. Literature on the subject has focused on assessing the capacity of the double-entry form to promote “rational” decision-making based on profit calculation. While the classical approach, drawing on Weber and Sombart’s […]

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    Design brands adjust their retail strategy to consumers’ personalities

Design brands adjust their retail strategy to consumers’ personalities

The luxury market is one of the most rapidly expanding industries around the world. Despite the financial crisis in 2008, the market for personal luxury goods has grown three times in size over the last 20 years. The industry has undergone, over the last decade, two major changes that have reshuffled the luxury landscape.

First, there has been an evolution […]

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    If we want to create jobs in local areas, the idea of ‘local’ needs to be revisited

If we want to create jobs in local areas, the idea of ‘local’ needs to be revisited

Place-based policies that target disadvantaged areas are widespread in both high-income and developing countries. Their impact depends crucially on the effective size of local labour markets. If labour markets are very local, an effective intervention needs to be targeted to the disadvantaged areas themselves and more distant interventions will not benefit the target group. If labour markets are not […]

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    Connectivity will create a multibillion-dollar opportunity for the global airline industry

Connectivity will create a multibillion-dollar opportunity for the global airline industry

‘Disruption’ is one of the buzzwords that defines our economy at the moment. While much of the focus has been on entrepreneurial start-ups – soliciting early funding for the next ‘the Airbnb of…’ – taking a look at how more established businesses are responding to the technological revolution is just as interesting. Aviation is one such sector that is […]

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    Who benefits from neighbourhoods designated as conservation areas?

Who benefits from neighbourhoods designated as conservation areas?

Opinions on conservation areas are split. Proponents would argue that conservation areas protect the visual appearance of historic neighbourhoods, by preventing owners from making changes that would be detrimental to character. Opponents would counter that this form of protection, in practice, means a severe restriction of property rights and, as a result, owners cannot adapt their homes to changing […]

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    Budget 2017: productivity is the focus, but ‘fixes’ are unlikely to be enough

Budget 2017: productivity is the focus, but ‘fixes’ are unlikely to be enough

Budget 2017 began with a bleak assessment of the UK’s growth prospects. For those of us following the economic trends and policy debate, there was little surprise at the downgrade of future productivity growth by the Office for Budget Responsibility. Productivity has flat-lined since the financial crisis as successive budgets have failed to have much discernible effect on the […]

Work, joblessness and what they mean for our happiness

Since most of us spend much of our lives working, it is inevitable that work plays a key role in shaping our levels of happiness. In a chapter of the World Happiness Report 2017 – which is published annually to coincide with the United Nations’ International Day of Happiness – we look more closely at the relationship between work […]

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    Diamond Light Source and its impact on the UK geographical distribution of science

Diamond Light Source and its impact on the UK geographical distribution of science

Big scientific research facilities like the UK’s Diamond Light Source, a third generation synchrotron (circular particle accelerator), benefit scientists located nearby significantly more than scientists located further away. According to our research, the highly localised effects of scientific infrastructure on research productivity extend even to scientists that do not rely on the facilities directly for their work.

Since scientific facilities often cannot […]

Would you choose to be happy?

This might initially sound like a silly question. I mean, who would choose not to be happy? Well, no one, if it was an easy choice between happiness and misery. But what if it was a harder choice between happiness and wealth? Or happiness and health? What then? The study reported in this blog post sought to find out.

We now […]

Dark web: The economics of online drugs markets

Like many other consumer transactions, the buying and selling of drugs are increasingly moving online. This is one very visible dimension of cybercrime – and it has been receiving growing attention from researchers as the online drugs markets have expanded rapidly.

A key feature of online drugs platforms is that they are located on the so-called ‘dark web’, which is […]

Apps like Tinder commodify the intangible

“One of the most basic processes in higher brains is the ability to carry out perceptual categorization – to ‘make sense’ of the world,” stated neuroscientist Gerald Edelman, in his neuroscientific analysis of consciousness. So what happens when the world becomes too noisy to make sense of?

As part of a small-scale MSc research project, I investigated young adults’ conceptualisations […]

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    Tech start-ups need a different approach to financial management

Tech start-ups need a different approach to financial management

We find ourselves today at the start of an industrial revolution. There have been others of course. The first revolution happened 250 years ago. Its engine was mechanisation. Another, about a hundred years ago, was all about electrification and mass production. Then 50 years ago, electronics and automation started a third revolution.

Right now, our physical and virtual worlds are […]

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    Developing a tool to understand corporate culture from the outside

Developing a tool to understand corporate culture from the outside

Since May 2016, we have led an academic research project to develop a new approach to measuring corporate culture. This research has produced the Unobtrusive Corporate Culture Analysis Tool (UCCAT).

UCCAT is a theoretically based and scientifically tested methodology for analysing and benchmarking corporate culture. Uniquely, rather than gathering employee interviews and questionnaires to assess culture, UCCAT analyses publicly available […]

Global risks from rising debt and asset prices

Wolfgang Schäuble, the outgoing German finance minister, warned in an FT interview last week that ‘economists all over the world are concerned about the increased risks arising from the accumulation of more and more liquidity and the growth of public and private debt.’ This follows an assessment by the Bank of International Settlements, whose chief economist, Claudio Borio, […]

The iPhone X in context

So, there is another line of iPhones out – big deal? The iPhone 8, 8 Plus, and the X. The iPhone X – or, for people without knowledge of Roman numerals, the one-phone-ten – has a brighter and more advanced screen, can recognise you through 30,000 facial features, and has a number of other improvements over the previous versions. It is […]

Introducing the Brexit readiness score

If you believe Prime Minister Theresa May the United Kingdom will be ready to exit the European Union in April 2019. If you believe UK businesses Britain is falling behind in its preparations. The next round of Brexit negotiations, and the first since the summer recess, was delayed by a week to September 25, 2017, suggesting that businesses may […]

Are you a leader or a manager?

The title of this article sounds like a trick question – it would seem the answer should be “leader”. But have you ever thought about what a manager does? Managers set up the systems that allow the organisation to run smoothly and efficiently. They ensure budgets are followed, timelines are met, and employees are trained and engaged. Without managers, […]

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    Expert panel: People from small, socially cohesive countries are happier

Expert panel: People from small, socially cohesive countries are happier

Among the world’s rich countries, those that are smaller and more socially cohesive tend to have happier populations on average. That is the consensus finding of a survey of leading researchers on wellbeing from around the world.

But opinion is divided among the experts on whether the break-up of large, diverse countries into smaller, less diverse ones can be expected to […]

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    Where industry is strong and where it’s weak: Key facts of UK business geography

Where industry is strong and where it’s weak: Key facts of UK business geography

The UK’s financial services industry is not nearly as London-centric as the creative industries. Rather than the South East of England being the country’s productivity engine, it is a band stretching west from the capital along the M4 corridor towards Bristol. The East of England stands out nationally in terms of the intensity of local investment in research and […]

Wake up, algorithms are trawling your phone while you sleep

Wake up, machine learning algorithms have been trawling your phone whilst you slept. If you did. If you had a long sleep your health profile will record positive. Your health data is one signal that will be built into a profile of all your behaviour. It will be used to inform decisions about credit ratings and health provision. Unhealthy […]