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Blogs - May 2015

Lies, Damn Lies, and the British Election by Chris Patten
Tue, 2015-05-05 06:55

Democratic elections cannot be described as competitions aimed at revealing which candidates can tell the unvarnished truth. But this year the British electorate is being asked to believe three great falsehoods, each one of them dangerous in its own way.


The UK election consensus that we are all ok with the new mighty BoE by Tony Yates
Tue, 2015-05-05 07:34

One thing that’s interesting about the election is that no-one has seriously questioned the new settlement of powers within the Bank of England.


On Free Trade and Economics Consensus by Matias Vernengo
Wed, 2015-05-13 08:31

Arguments against the TPP agreement.


The Puzzle of Liberal Democracy by Dani Rodrik and Sharun Mukand
Mon, 2015-05-18 20:25

Though more than 60% of the world’s countries are electoral democracies, the majority of these regimes fail to provide equal protection under the law. Whatever the reason for the emergence of democracies that uphold property, political, and civil rights at the same time, we should not be surprised by how uncommon they are.


An Economics to Fit the Facts by Barry Eichengreen
Mon, 2015-05-18 20:31

The economics profession was arguably the first casualty of the 2008-2009 global financial crisis. But, as with the global economy, there is reason to hope that the discipline is on the mend.


Ed Prescott is No Robert Solow, No Gary Becker by Paul Romer
Wed, 2015-05-20 01:18

Austerian empirical macro wars by Tony Yates
Wed, 2015-05-20 01:23

Paul Romer and microfoundations by Simon Wren-Lewis
Wed, 2015-05-20 01:28

The Very Model of a Modern Monetary Economist by George Selgin
Wed, 2015-05-20 06:59

No Pain, No Gain for Britain? by Robert Skidelsky
Wed, 2015-05-20 07:10

The economic historian Niall Ferguson blames John Maynard Keynes for Labour’s defeat in the recent UK election. But Labour has been running away from Keynes for years, while the victorious Conservatives’ austerity policy, which Ferguson defends, turns out to have inflicted severe damage on the British economy.


The Economic Consequences of Mr. Osborne by Niall Ferguson
Wed, 2015-05-20 07:17

In the wake of the 2010 British election, Keynesians like Robert Skidelsky predicted that Chancellor of the Exchequer George Osborne was gravely wrong in seeking to reduce the budget deficit. It turns out that it is the Keynesians who were mistaken, with the main question being why they refuse to admit it.



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