Development economics 6 min read
What Is the Difference Between Mercantilism and Imperialism?
Whereas mercantilism is an economic system in which a country’s government manipulates the economy to create a favorable trade balance,…
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Development economics 4 min read
What is ‘Mercantilism’
Mercantilism was the main economic system of trade utilized from the 16th to 18th century. Mercantilist theorists believed that the…
Development economics 2 min read
What is ‘Development Economics’?
Development economics is a branch of economics that focuses on improving fiscal, economic and social conditions in developing countries. Development…
Advanced Concepts 7 min read
Measuring the welfare effects of AI and automation
Growing adoption of the new generation of technologies such as smart automation and artificial intelligence (AI) has prompted contrasting views…
Advanced Concepts 5 min read
Beyond Unemployment
In modern economies, people may have jobs, but they still harbor major concerns in a wide range of areas, including…
Advanced Concepts 6 min read
Why Did the US Labor Share of Income Fall So Quickly?
The share of US national income going to labor was sagging through the second half of the century, but then…
Advanced Concepts 4 min read
An old result on automation and wages
The first issue of AER Insights is out and the very first article is one by Francesco Caselli and Alan Manning on “Robot…
Advanced Concepts 10 min read
Is the U.S. budget deficit sustainable?
The U.S. federal budget deficit for 2018 came in just shy of $800 billion, or about 4% of the gross…
Advanced Concepts 7 min read
The costs and benefits of performance fees in mutual funds
Performance fee-based contracts, which aim to align the interests of the fund manager with that of the investor, have been…
Advanced Concepts 5 min read
Why Call it “Socialism”?
I’ve been coming around to the belief that most modern arguments over “socialism” are a waste of time, because the…
Advanced Concepts 3 min read
What is “average inflation targeting”?
he Federal Reserve is charged by Congress with maintaining price stability and maximum sustainable employment. The Fed defines “price stability”…
Advanced Concepts 8 min read
Monetary Policy and Financial Stability
As you well know, monetary policy has powerful effects on financial markets, the financial system, and the broader economy. Conversely,…
