The State of the Market

By Joseph E. Stiglitz

The right balance between the role of the state and the market is key for susccesful development. In this video, Joseph Stiglitz explains why they should complement each other. This video was recorded at the UNU-WIDER 30th anniversary conference in Helsinki in September 2015.

 

The origins of the Industrial Revolution

By Leander Heldring, James Robinson, Sebastian Vollmer

The Industrial Revolution is arguably the most important economic event in world history, and successful industrialisation continues to elude many developing countries today.

The Soviet economy 1917-1991

By Mark Harrison

Russia’s Soviet era was distinguished not by economic growth or human development, but by the use of the economy to build national power. The education of women and better survival rates of children improved opportunities for many citizens, but Soviet Russia was a tough and unequal environment.

Richard Thaler, Nobel laureate

By Hersh Shefrin

Richard Thaler of the University of Chicago has been awarded the 2017 Nobel Prize in Economic Sciences. Hersh Shefrin looks at the development of three key areas of his research: people’s limited rationality, their perceptions about fairness, and their lack of self-control.

The Neymar Bubble

By Eran Yashiv

The €222 million transfer of Neymar to PSG calls into question whether football superstars are a good investment. Using the financial details of the transfer, at the price paid, Neymar has a negative net present value. While there are other explanations for PSG’s willingness to pay, in purely economic terms his contract seems a bad investment.

Political Tours

Political Tours