COVID-19

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    Less red tape, more local entrepreneurship and foreign direct investment: the path to recovery

Less red tape, more local entrepreneurship and foreign direct investment: the path to recovery

Fiscal crises such as the one spurred by the COVID-19 pandemic motivate regulatory reform, which in turn can speed up the economic recovery. Past evidence suggests that this acceleration takes place through two main channels: new local entrepreneurship and increased foreign direct investment (FDI).

Entrepreneurship is critical for the continued dynamism of the modern economy, as forcefully argued by Austrian […]

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    The UK’s fresh produce supply under COVID-19 and a no-deal Brexit

The UK’s fresh produce supply under COVID-19 and a no-deal Brexit

In 2018, only 28% of adults were eating the recommended five portions of fruit and vegetables per day in the UK – and the average was 3.7 portions per day. Fewer men than women meet the five-a-day guideline, and young people aged 16 to 24 are also less likely than other adults to get their five-a-day. In 2018, 18% […]

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    How governments can ease the entry of ‘recovery entrepreneurs’

How governments can ease the entry of ‘recovery entrepreneurs’

The focus of Covid-19 economic responses so far has been on assisting existing businesses and their employees with weathering the crisis. In particular, the priority of governments has rightly been on saving existing jobs. Little is done yet to help new companies and employment opportunities emerge. Yet we know from Joseph Schumpeter that crises are a period of creative […]

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    How to reorganise the World Health Organization – and how to finance it

How to reorganise the World Health Organization – and how to finance it

The writing on the wall from the Covid-19 pandemic is the critical role that detecting, tracing, and containing contagion for infectious diseases can play in saving lives across the globe. Yet, the World Health Organization’s hobbled and weak handling of the crisis has left a lot to be desired. The W.H.O. has arguably failed to weather this crisis, but […]

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    Knighthoods for the rich, sanctions for the poor: time for a new settlement

Knighthoods for the rich, sanctions for the poor: time for a new settlement

When he was London’s mayor, Boris Johnson called for the nation’s super-rich to be awarded ‘automatic knighthoods’. In contrast, David Cameron’s government launched a rolling programme of benefit cuts, together with new punitive rules on benefit entitlement.

Rich and poor citizens have long been treated by different standards, but that gap has ballooned in recent times. Implicit in the social […]

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    How the show goes on in time of injustice, violence, and pandemic

How the show goes on in time of injustice, violence, and pandemic

The world feels as if it is in shambles. At the time of this writing, I am in Cleveland, Ohio, a city under curfew in the midst of protests against police brutality and racism, following the killing of George Floyd in Minnesota. This is also happening in the middle of the coronavirus pandemic, and people are faced with damnation […]

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    On being human: how behavioural science can help virtual working

On being human: how behavioural science can help virtual working

In 1816, Mary Shelley spent the summer in Geneva in the company of her family, Lord Byron and his physician John Polidori. The weather was dreadful due to the eruption of Mount Tamboro in Indonesia, and the group spent much of their time locked inside to escape the incessant rain. The group had stirring discussions on science and the […]

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    A macro crisis like none before: a call for global coordination

A macro crisis like none before: a call for global coordination

This is based on my personal perspective of financial crises as an academic, financial practitioner (investment banking and investment management) and policy advisor. I have been arguing (since early February) that this crisis is different from any other economic or financial crisis, pandemic, or war. The reason is apparent and simple: the expanse and impact of the crisis across […]

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    Digital transformation in the wake of a crisis: focus on people

Digital transformation in the wake of a crisis: focus on people

Some technologies came of age during the 2020 Covid-19 pandemic. Millions of people were forced into homeworking for the first time. Unable to see each other face to face, families worldwide had to quickly master Skype, Zoom, Microsoft Teams and a host of other connecting technologies. Zoom’s daily users mushroomed to more than 200 million in March 2020 from […]

Covid-19: business must get ready for the new abnormal

Anyone who has tried researching the future will know that it can be a fairly dumb-assed thing to do. You can always extrapolate forwards from the past. And something similar must have happened back then that we can draw lessons from, don’t you think? OK, let’s factor in some new events and emerging patterns. Let’s take a lot of […]

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    What past epidemics tell us about public trust in science — and scientists

What past epidemics tell us about public trust in science — and scientists

Covid-19 will change everything. One effect, it has been argued, will be to reverse the secular trend of challenging the value of scientific expertise. “The coronavirus crisis has put a spotlight on the importance of science in supporting our nation’s wellbeing” (Shepherd, 2020). At the same time, the pandemic has put on display certain leaders’ “longstanding practice of undermining […]

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    Technology must be part of the recovery, but it isn’t the solution

Technology must be part of the recovery, but it isn’t the solution

The coming months and years are going to be among the most challenging in our lifetime for our economy, our society, and many of us individually. Problems of unemployment, low productivity, declining competitiveness and low innovation will be hard to resolve; harm will be inflicted on people’s working and personal lives. The post-coronavirus labour market is going to be […]

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    Covid-19: how are new uses of technology transforming healthcare?

Covid-19: how are new uses of technology transforming healthcare?

As we are slowly preparing for lockdown restrictions to ease, healthcare professionals, managers and IT practitioners are wondering what changes to work practices and new models of healthcare provision that have resulted from the rapid deployment of digital technologies should be sustained beyond the current crisis.

Indeed this is a pressing question, which we are keen to pursue. First, we […]

Climate change, Covid-19, and our existential challenge

Covid-19 is the most significant economic, social, and public health issue of the present time, posing unprecedented challenges to economic policymakers. While the pandemic has caused havoc in the world economy, with major losses of human life, it is also reshaping our view towards the environment. The virus has thrown a spanner in the works of the global economy […]

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    The impact of Covid-19 on human resource management: avoiding generalisations

The impact of Covid-19 on human resource management: avoiding generalisations

While there is now a great deal of discussion concerning the impact of Covid-19 on and implications for working practices and human resource management (HRM), much of the content and comment on these topics tends to be of a general nature, offering observations and/or guidance that seek to define what a ‘new normal’ might be. For example, that remote […]

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    Lars Rebien Sørensen: It makes no sense for countries to develop vaccines individually

Lars Rebien Sørensen: It makes no sense for countries to develop vaccines individually

Although it can be difficult to predict exactly how the next health crisis will impact us, there are valuable lessons to be learned from the current one. Lessons which should be brought to the table in future political discussions across the world. Because it is clear that politicians and other decision-makers now look at our preparedness and response systems […]

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    How will Covid-19 shape the future economic role of the British state?

How will Covid-19 shape the future economic role of the British state?

When the pandemic has passed into history, what will be its implications for the role of the state in our economy? Some think it will (or should be) the replacement of one -ism with another. But to see the issues we face next through the prisms of an -ism could prove more of a prison than a roadmap. Ours […]

Supply chains need to develop immunity to natural disasters

Let me introduce you to a new concept, “supply chain immunity”. Immunity, not resilience. Resilience is often one of the first things to emerge in any debate on how we arrived at the point in which we are today in the Covid-19 pandemic, especially as it applies to supply chain management. Supply chain resilience generally means the ability to […]

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    UK investment fund for high-growth firms is a step in the right direction

UK investment fund for high-growth firms is a step in the right direction

Support packages for innovative firms are emerging as second-wave policy tools during the Covid-19 crisis. Following similar efforts in France and Germany, the UK government unveiled a £1B support package for start-ups, scale-ups, and research and development firms on 20 April, after having launched its main business support programs in March.

The new UK support package includes a novel £250M […]

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    Bank loss provisioning rules: a convenient scapegoat in the Covid-19 crisis?

Bank loss provisioning rules: a convenient scapegoat in the Covid-19 crisis?

As a consequence of the upcoming economic crisis triggered by the Covid-19 situation, US and European banks are expected to book more than $50bn of charges on bad loans in the first quarter of 2020. The accounting rules that dictate the way banks provision for loan losses are crucial because they directly affect the ability of banks to continue […]