Tagged: capital

Opinion: Economic growth within Environmental limits - The Dismal Science

Michael Reddell Apr 20, 2018

That was the title of a speech David Parker gave a couple of weeks ago.  Parker is, as you will recall, a man wearing many hats: Minister for the Environment, Associate Minister of Finance, Minister for Trade and Export Growth, and Attorney-General.  Since he was speaking to a seminar organised by the Resource Management Law Association, this speech looked … Read More

Luigi Zingales on Oliver Hart, co-winner of the 2016 Nobel Prize for economics - The Dismal Science

Paul Walker Feb 05, 2018

At the 2018 ASSA meeting Luigi Zingales delivered a lecture honouring Oliver Hart, co-winner of the 2016 Nobel Prize for economics. In part Zingales said, In the 1970s, this question [the make-or-buy dLuigi Zingaleecision] started to receive attention in the so-called transaction-cost literature. The key contributions during that period were Alchian and Demsetz (1972), Williamson (1971 and … Read More

Socially constructed profits - The Dismal Science

Bill Kaye-Blake Jun 21, 2013

Paul Krugman made a point on his blog yesterday that really struck me: profits are no longer anything remotely resembling a “natural” aspect of the economy; they’re very much an artifact of antitrust policy or the lack thereof, intellectual property policy, etc. This is something I’ve seen suggested or hinted at or mentioned in a […] … Read More

How do we teach this? - The Dismal Science

Bill Kaye-Blake Feb 15, 2013

Reading through the post-mortems of the financial crisis, I’ve been struck by something. The behaviour of the finance sector doesn’t fit the standard economics model, the Samuelson textbook depiction, or the Heckscher–Ohlin model of trade, or the Solow model, or any of the other bog-standard depictions of the economic system that we like to teach. A key [...] … Read More