Philanthropy in Development: Undermining Democracy?
The word philanthropy dates back to the Greek word φιλανθρωπία, which means the love of humanity. Today the OECD defines private philanthropy as non-official development assistance (ODA) to developing countries. Such assistance can be through large philanthropic foundations such as the Rockefeller or Clinton Foundation, or through ‘direct giving’ platforms such as Global Giving or…
Lessons from the Fall of Lehman
As you have undoubtedly noticed, this week marks the one-year anniversary of the fall of Lehman Brothers--the moment at which the financial crisis became a severe economic crisis. I did an interview on Fox Business on Tuesday to discuss some of the lessons learned. (My wife's comment on the interview: "You need to straighten your collar…
IPA's weekly links - Chris Blattman
How not to inspire faith in the aid sector, and do nudges live up to the hype? Continue reading →
Why insurance works better with some adverse selection - The Academic Health Economists' Blog
Adverse selection, a process whereby low-risk individuals drop out of the insurance pool, leaving only high-risk individuals, arises when the individuals purchasing insurance have better information regarding their risk status than does the insurer. [...] In the limit, adverse selection can make insurance markets unsustainable. Even short of the market disappearing altogether... The market cannot…
Global Economic Outlook G7
Top 100 economic blogs chaganomics.com
Cancer drugs and public preferences - The Academic Health Economists' Blog
Last year the UK government announced the establishment of a £600 million cancer drug fund, to be spent over 3 years. This represents a minuscule amount of money compared to the NHS's annual budget, which is in excess of £100,000,000,000. However, it demonstrates the government's preference for expenditure on the treatment of cancer over and above other…
The equivalence of debt and equity
Much is being made at the moment of the idea that banks should have more capital . Predictably, there is huge confusion about what this actu...
Upcoming Presentations
I am giving a presentation to the Canberra Branch of AARES. It is at 6:30pm on Wednesday 19th March on Level 3 at UniPub on University Ave/...
Instant Runoff Voting Awards the Oscar
As even the most casual film buff knows by now, the Academy of Motion Picture Arts and Sciences expanded the field of nominees for Best Picture. This year ten films have been nominated for the Oscar, up from five in recent years. Nominees include Avatar, The Hurt Locker, Up in the Air, the Blind Side,…
The radical plan to change how Harvard teaches economics
This Vox piece is being discussed widely: If Harvard has a most famous course, it’s Economics 10. The introductory economics class is reliablyone of the most popular courses offered to undergraduates. It’s usually taught in a massive Hogwartsian auditorium, where hundreds of students either dutifully take notes or mess around on laptops as one of the…
Two big questions | Center for Financial Economics
Simple plots of recent GDP and inflation data highlight two profoundly important questions facing monetary policymakers in the United States. GDP is at a level several percentage points below reasonable estimates of its pre-crisis trajectory (Fig. 1):[1] Will we ever regain that lost output? Inflation had run well below the Fed’s objective for the two …
The Reading Railroad and the Panic of 1893 - The Economic Historian
By David N. Brunk COMBINATION TO COLLAPSE THE PANIC OF 1893 began a depression in the United States that lasted into 1897. Theories for the cause of the panic have included an inadequate money supply, a European depression, and a hit to national credit caused by the passage of the Sherman Silver Purchase Act. While …
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