CEP

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 […]

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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 […]

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    Expert panel: Unemployment hurts the wellbeing of men more than that of women

Expert panel: Unemployment hurts the wellbeing of men more than that of women

Given a generally stronger social norm for men to be working in paid employment than for women, unemployment is typically worse for the wellbeing of men than women. That is the consensus finding of a survey of leading researchers on wellbeing from around the world.

But the experts are divided on whether unemployment is better for an individual’s happiness than […]

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    How the rise of the service sector boosted the demand for women workers

How the rise of the service sector boosted the demand for women workers

The rise in female participation in the workforce has been one of the most remarkable changes in the labour markets of high-income countries since World War 2. In the U.S, for example, the employment rate of women has more than doubled from about 35 per cent in 1945 to 77 per cent at the end of the 20th century, […]

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    Post-Brexit work visa quotas on EU nationals will likely favour graduates

Post-Brexit work visa quotas on EU nationals will likely favour graduates

Had things gone as most commentators expected, the UK would now be entering hard Brexit talks with the near certainty of leaving the single market and/or customs union and the consequent ending of free movement of people from the European Union. Two weeks later and that near certainty no longer seems as certain, with murmurings of a softer Brexit […]

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    It’s not that London is too big, but that other large UK cities are too small

It’s not that London is too big, but that other large UK cities are too small

The elections are barely behind us now, and we should keep asking the question, ‘What are the economic forces polarising the UK?’ A big part of the story concerns the geographical concentration of economic activity in London (and the South East). Is this concentration good for those who live or work in London but bad for those who don’t? […]

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    What’s happening with real wages and living standards in the UK?

What’s happening with real wages and living standards in the UK?

As the election season progresses, an evaluation of the current labour market trends in the UK, and of possible future movements, is of significant importance is assessing the credibility of the parties’ manifesto proposals on work. This is particularly the case as, since the global financial crisis of 2007/08, workers’ real wages and family living standards in the UK […]

What research tells us about the avocado toast controversy

Australian millionaire and luxury property developer Tim Gurner recently suggested millennials should stop spending money on avocado toasts or expensive coffee so that they could afford to buy property. This comment started a heated debate relative to the way the young – and more generally lower income people – spend their money, and on the morality of conspicuous consumption.

The […]

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    Airports helped boost the manufacturing sector and productivity in China

Airports helped boost the manufacturing sector and productivity in China

Airport construction or expansion is often proposed as a policy lever to boost cities, regions and national economies worldwide – although this case is not clear cut as some well publicised ‘white elephants’ and the recent debate over expansion of London’s airports testify. But it is in large developing countries with poor road and rail infrastructure that air transport […]

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    Geekland: STEM knowledge is needed to apply for 1 in 6 non-tech UK jobs

Geekland: STEM knowledge is needed to apply for 1 in 6 non-tech UK jobs

In the UK, less than half of science, technology, engineering, and mathematics (STEM) graduates work in so-called ‘STEM occupations’ (such as scientists or engineers). If, as is often thought, all recruiters in ‘non-STEM’ occupations (for example, graphic designers or economists) neither require nor value science and technology skills, and simply like hiring science graduates for their problem solving and […]

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    Home ownership is falling faster for young people whose parents didn’t own a house

Home ownership is falling faster for young people whose parents didn’t own a house

It is well known that home ownership rates have been falling rapidly among young people. Linking own home ownership with parental home ownership, our new paper demonstrates that the sharpest falls occurred for those who grew up in families where their parents did not own their homes. Given the link between home ownership and wealth, the findings indicate growing […]

Sleep deprivation, even when moderate, hurts employment

Lack of sleep is responsible for human fatigue, and can undermine economic performance. Paradoxically, the extent to which sleep time is a productive activity, or not, has received very limited attention in economics research so far. Sleep is often overlooked in economic models despite its obvious restorative effects on human health alongside its influence on brain plasticity and feelings […]

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    Anna Valero: ‘Automation has taken away mid-level skills jobs’

Anna Valero: ‘Automation has taken away mid-level skills jobs’

As a Research Director of LSE’s Growth Commission, Anna Valero spent part of the post-Brexit vote months studying the gaps between public policy and the new economic reality in the UK.  In an interview with LSE Business Review’s managing editor, Helena Vieira, she discusses what the UK could do to stimulate economic growth and fight inequality. The skills gap is one of […]

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    Keeping up with the Joneses: Superstar houses and the US mortgage frenzy

Keeping up with the Joneses: Superstar houses and the US mortgage frenzy

Built in 1927 on the eve of the Great Depression, the Palm Beach residence of President Donald Trump – Mar-a-Lago – ranks among the 20 biggest houses in the United States. At 62,500 square feet, it is about 35 times the size of the median suburban house in the country.

Analysing a large dataset of houses built between 1920 and […]

Technology may not be responsible for jobless recoveries

Since the early 1990s, the US has been plagued by weak employment growth when emerging from recessions – so called ‘jobless recoveries’. Georg Graetz and Guy Michaels look at multiple recoveries elsewhere in the world over a 40-year period to see if the same applies – and whether modern technology is responsible.

Recoveries from recessions in the United States used […]

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    LSE Growth Commission: invest more in people, not only buildings and machines

LSE Growth Commission: invest more in people, not only buildings and machines

The LSE Growth Commission sets out a new blueprint for inclusive and sustainable growth that deals with the challenges facing the UK, old and new.

Based on the latest research, analysis and evidence from leading practitioners and scholars, the Commission – drawn from leading business, policy-making and academic figures – outlines the top priorities in four key areas.

Jobs and skills

In […]