European policy-makers have given Mrs May the option to push her 585-page withdrawal agreement through Parliament for the third time (!!!) around or decide what to do with Brexit by the 12th of April. In fact, the EU’s decision to allow Mrs May to ‘sort out’ Brexit by the 12th of April is largely down to economic considerations. On the […]
Have you ever witnessed (or been involved in) one of those endless Facebook discussions where users fight each other on sensitive issues with nonsensical arguments and rude comments filled with hate and stereotypes? How did this make you feel?
“When it’s a faceless, person-less comment, and it’s comment after comment after comment, it makes you lose faith in humanity”, once […]
The impact of the Brexit vote can now begin to be evaluated with greater accuracy than previous forecasts, thanks to the emergence of new data. In the run-up to the UK’s referendum on membership of the European Union (EU) in June 2016, a number of research reports estimated the likely economic impact of Brexit (see, for example, Dhingra et […]
The recent controversy over Canada’s ‘supply management system’ of agricultural protection during the regional US-Mexico-Canada Trade Agreement (USMCA) negotiations was a timely reminder of the entrenched protectionism in nations that retain a theoretical commitment to international ‘free trade’. It also indicates that deviations from free trade in many guises thrive in market economies where benefits are concentrated, and costs […]
Modern metropolitan areas include vast concentrations of economic activity, with Greater London and New York City today accounting for around 8.4 and 8.5 million people, respectively. These intense concentrations of population involve the transport of millions of people each day between their home and work, as surveyed in Redding and Turner (2015). Today, the London Underground alone handles around […]
You have been in your current job for some time. You have learned a lot, acquiring valuable knowledge and skills as well as getting to know people in your workplace. You enjoy what you do. Now there is an opportunity to move to another job within the organisation. The job is quite different from what you have been doing, […]
The Great Recession of 2008-09 led to government bailouts of banks in Europe and elsewhere, giving rise to greater presence of state banks in the financial sector. This sparked a renewed debate over the economic costs and benefits of state bank lending. On the one hand, a large literature argues that lending by state banks is inefficient, subject to […]
Economists know that redistributive policies rely on the prevailing beliefs about the fairness of social competition. If a society believes that socioeconomic success only depends on merit, and that everyone should fully enjoy the fruits of her work, it will demand low redistribution. If, instead, the belief prevails that wealth is mostly determined by “luck”, such as the fortune […]
The departure of the European Medicines Agency from its home in Canary Wharf to Amsterdam may sound like an odd place to start a post about the impact of Brexit on London’s transport system. But it’s not as strange as you might think.
At the end of January, this EU agency – which has been based in London for over […]
On February 1st, the EU-Japan Economic Partnership Agreement (EPA) entered into force. Rightly described as a ‘mega-deal’, since it covers 27.8 per cent of the world economy and more than a third of global world trade, the event still received relatively little attention. Yet the deal truly matters both economically and politically, especially at a time when most headlines […]
It is now over ten years since the collapse of Lehman Brothers paved the way for the biggest, most global, and most significant financial crisis in living memory. It brought the global capitalist economy to its knees, it shook belief and faith in the capitalist system itself, and raised serious doubts about neoliberalism.
The hope that the crisis would give […]
It is the year 2060, and global warming has turned Britain’s climate warm and sunny — rum rather than whiskey is now distilled in Scotland, using sugar cane grown in the Outer Hebrides. Realising that true British culture could not thrive without year-round cold drizzle and grey skies, in 2020 a farsighted government launched Brexit-Ultra, the plan to quit […]
It has always been the case that the likelihood of policy failure is at least as high as policy success. But the currency of modern politics seems to be squarely that of failure – indeed major failure. The most prominent current British examples are Brexit, closely followed by Universal Credit, and now a new NHS Ten Year Planthat disavows the extensive […]