Under-appreciated fact: today’s Nobel is, in large part, given for formally introducing class struggle into mainstream theory and empirics of economic growth and political development.
Their models of democratization and much of their historical analysis is effectively an argument that in some places, historical circumstances drove bargaining power into the hands of merchants and other non elites, and this sometimes created virtuous cycles of democratization and development.
Chris Blattmanx.comUnder-appreciated fact: today’s Nobel is, in large part, given for formally introducing class struggle into mainstream theory and empirics of economic growth and political development. Their models of democratization and much of their historical analysis is effectively an argument that in some places, historical circumstances drove bargaining power into the hands of merchants and other non elites, and this sometimes created virtuous cycles of democratization and development.
Congratulations to @DAcemogluMIT, @baselinescene & James Robinson on their @NobelPrize in Economic Sciences. While their work on institutions is important, it's crucial to remember that development is complex.
As @yuenyuenang, @mushtaqkhan100 & Ha-Joon Chang argue, effective institutions must be context-specific, not just replicas of Western... See more
As @yuenyuenang, @mushtaqkhan100 & Ha-Joon Chang argue, effective institutions must be context-specific, not just replicas of Western... See more
Mariana Mazzucato • Tweet
Why did so many hunter gatherer groups around the world nearly-simultaneously and in an unconnected way develop agriculture?
This has been a kinda problematic question in human prehistory.
It may have been solved... by an economist?
Studying the economics of... Earth's orbit?
Lyman Stone 石來民 🦬🦬🦬x.comNobel Prizes have been given to economists whose theories were based on idealized arguments with no empirical support, providing fodder for neoliberal policies that led to extreme inequality and fueled sociopolitical polarization.
J. Doyne Farmer • Making Sense of Chaos: A Better Economics for a Better World
Why Nations Fail is a bit longer than The Communist Manifesto , but it is essentially The Bourgeois Manifesto . Merchants having become wealthy from the Atlantic trade win property rights in England, already primed for this breakthrough. Resultant regime called inclusive , though the merchants were primarily slavers.
They will underline however tha... See more
They will underline however tha... See more
Rakesh Bhandari • Tweet
Notwithstanding the horror that the word elicits in many parts of the political spectrum, globalization, development analysts agree, has been a bonanza for the poor. Deaton notes, “Some argue that globalization is a neoliberal conspiracy designed to enrich a very few at the expense of many. If so, that conspiracy was a disastrous failure—or at leas
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