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    Che Guevara’s Cuba and John Cowperthwaite’s Hong Kong: a six-decade natural experiment

Che Guevara’s Cuba and John Cowperthwaite’s Hong Kong: a six-decade natural experiment

In 1960, Cuba and Hong Kong had a similar level of GDP per capita at around $4,500 in today’s money[1]. By 2018 Cuba’s GDP per capita had risen to around $9,000. By contrast, Hong Kong had reached $64,000 per capita, a similar level to the US and Switzerland. Over 60 years, Cuba had doubled its economic prosperity where Hong […]

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    Ten blog posts to help inform discussions on the UK economy going forward

Ten blog posts to help inform discussions on the UK economy going forward

How to improve social mobility. Merely tweaking existing policies won’t do, but four major changes have the potential to transform society.

How to improve social mobility

 

To meet its ambitious ‘net zero’ target, the UK will need to ramp up climate change policies. Slower growth resulting from Brexit may reduce emissions in the short run, but less R&D investment will likely result in higher emissions […]

December 16th, 2019|Economics|1 Comment|
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    Unbound: How Inequality Constricts Our Economy and What We Can Do About It – Book Review

Unbound: How Inequality Constricts Our Economy and What We Can Do About It – Book Review

Unbound: How Inequality Constricts Our Economy and What We Can Do About It. Heather Boushey. Harvard University Press. 2019.

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The 2020 US Presidential election is less than a year away and competing claims about the state of the US economy will inevitably dominate the selection process. Heather Boushey, the former Chief Economist on Hillary Clinton’s transition team, […]

December 15th, 2019|Book Review|0 Comments|
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    The ‘exit index’: how likely are other countries to follow in the UK’s footsteps?

The ‘exit index’: how likely are other countries to follow in the UK’s footsteps?

Ever since the United Kingdom decided to leave the European Union in June 2016, one question has been on the minds of many Europeans: which other member states could leave the EU in the years ahead? In fact, one argument among Brexiteers in the run-up to the referendum was that the UK needs to break free from the EU […]

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    Informational privacy: a precondition for democratic participation?

Informational privacy: a precondition for democratic participation?

The value of informational privacy has long ceased to be seen merely in the protection or exercise of individual autonomy.  Already in the early 1980s, the German Federal Court pointed out that the political autonomy of citizens in exercising their democratic rights and duties would be incompatible with a “social and legal order […], in which citizens could no […]

Dollars or Pence? Choosing a framework for US-China trade

In his recent Wilson Center speech, Vice-President Pence argued that US trade policy towards China must now be built upon the premise that China is a “strategic and economic rival”. This change in perspective has naturally led the US to rethink its current trade policy with China, and this rethinking has in turn put the US and China on […]

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    Good management improves productivity, but it may worsen environmental performance

Good management improves productivity, but it may worsen environmental performance

The reduction of greenhouse gas (GHG) emissions is an increasingly important policy objective for many governments, both in developed and developing economies. This is reflected, among other things, in the emergence of energy efficiency as a high-priority topic on the policy agenda.

In manufacturing – one of the key sectors from the point of view of GHG emissions and energy […]

December 11th, 2019|Economics, Environment|0 Comments|
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    Silicon Roundabout: did light touch policy interventions work?

Silicon Roundabout: did light touch policy interventions work?

London’s technology ecosystem is thriving. The city has over 50,000 tech firms, with over 260,000 employees. Venture capital investment rose from £384 million in 2013 to £1.8 billion in 2018. A number of companies, such as Deepmind, Transferwise and Deliveroo, have become unicorns, valued at more than £1 billion. It survived the financial crisis and is — so far […]

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    How will the UK tackle its welfare challenge in light of technological unemployment?

How will the UK tackle its welfare challenge in light of technological unemployment?

To say that the world is changing rapidly is an understatement. Climate catastrophe and that little thing called Brexit have been dominating the 2019 election.

These issues are important, but it might be a useful time to draw attention to another issue on the horizon that will play a fundamental role in our collective future – a fourth industrial revolution. This […]

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    From workers to capitalists in less than two generations: the Chinese urban elite

From workers to capitalists in less than two generations: the Chinese urban elite

The transformation of China from a poor and egalitarian country to an upper middle-income country with the level of income inequality greater than in the United States has been the subject of innumerable publications. The Chinese transformation is a unique event in world economic history: never have so many people over such a relatively short period of time increased […]

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    Taking the Floor: Models, Morals and Management in a Wall Street Trading Room – Book Review

Taking the Floor: Models, Morals and Management in a Wall Street Trading Room – Book Review

Taking the Floor: Models, Morals and Management in a Wall Street Trading Room. Daniel Beunza. Princeton University Press. 2019.

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In Taking the Floor: Models, Morals and Management in a Wall Street Trading Room, Daniel Beunza analyses how the use of economic models and the moral disengagement this has created have significantly transformed the global financial industry. The […]

December 8th, 2019|Book Review|0 Comments|
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    Most party manifestos have taken women’s interests seriously

Most party manifestos have taken women’s interests seriously

Half of the electorate are women. Research has consistently shown that women are more likely to be floating voters and to make their minds up on how to vote later than men. Securing women’s votes is increasingly recognised as essential for parties as they seek to consolidate their voting base and capture undecided voters. This is something we have […]

December 7th, 2019|Gender|0 Comments|
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    Researchers’ advice to stress-prone entrepreneurs: learn to manage your insomnia, and sleep!

Researchers’ advice to stress-prone entrepreneurs: learn to manage your insomnia, and sleep!

When entrepreneurs start a new venture, they enter a demanding, changing and emotional process. To navigate through this process, they need to have their batteries fully charged, with positive feelings and emotions, as this will help ensure good health. Conversely, it seems plausible to think that, as chronic insomnia increases stress levels and negative emotions, this will have an adverse […]

December 6th, 2019|Entrepreneurship|0 Comments|

Regulation, institutions and economic growth

I investigate a number of questions related to the drivers of per capita income levels for a large set of countries and a narrower set of OECD countries. First, I seek to figure out whether, and if so to what extent, product and labour market regulations and policies affect per capita income levels. Second, I aim to understand whether policy […]

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    Cyber risk governance should take centre stage in financial services

Cyber risk governance should take centre stage in financial services

It feels as though cyber risk has crept up on us without warning and with great intensity.

We have come a long way from the days when our palm pilots had to be hot-sync’d through a docking station and the occasional hazard was from viruses transmitted as email attachments. Over the years, we have embraced extreme connectivity combined with extreme […]

December 4th, 2019|Finance, IDEAS, LSE Authors|0 Comments|
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    To meet its ambitious ‘net zero’ target, the UK will need to ramp up climate change policies

To meet its ambitious ‘net zero’ target, the UK will need to ramp up climate change policies

UK greenhouse gas emissions are declining and have been declining for some time. The UK has a framework of long-run targets developed by the Committee on Climate Change, an independent body of experts advising government. Despite this, things are far from well when it comes to climate change in the UK and there are concerns about the country’s ability […]

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    How to change the paradigm in finance to incorporate a changing environment

How to change the paradigm in finance to incorporate a changing environment

Climate change poses existential threats to global prosperity, but political and economic systems are unprepared for responding to that risk. Governance, incentives and thinking are still misaligned. The financial and corporate sectors could play an important role in turning the tide by truly managing for long-term value creation, i.e. by managing for positive financial, social and environmental returns in […]

December 2nd, 2019|Environment, Finance|0 Comments|

1931: Debt, Crisis, and the Rise of Hitler – Book Review

1931: Debt, Crisis, and the Rise of Hitler. Tobias Straumann. Oxford: Oxford University Press, 2019.

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1931 was an inflection point in history, a year in which so much of such consequence happened that, nearly a century later, one still strains to make sense of it all. On 19 September 1931, Japan invaded Manchuria, an act of aggression that […]

December 1st, 2019|Book Review|0 Comments|
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    Brexit will leave the UK worse off economically in all scenarios

Brexit will leave the UK worse off economically in all scenarios

Since the UK voted to leave the European Union in June 2016, Brexit has dominated UK politics and economic policy. Three and a half years after the referendum, the UK is yet to leave the EU, there is no certainty over if or when Brexit will take place, and the shape of future UK-EU relations is yet to be […]

Do tweets from CEOs matter to investors?

Social media provides today’s CEOs a quicker and more direct way to communicate with investors. The Securities and Exchange Commission cleared public companies to use social media to disclose information as long as investors know which social media sites will be used.

Despite the growth in CEOs’ social media use, we know little about how such use affects investors, and […]

November 29th, 2019|Finance|0 Comments|