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EconoSpeak: Nobel Prizes in Economics, Awarded and Withheld
-- profiles work of Martin Weitzman's worst-case actuarial assessment of climate shocks versus *price of carbon* approach.
climate_change  economics  economic_policy  risk_assessment 
february 2019 by rvenkat
The Material Power of Ideas and Knowledge — Crooked Timber
-- it would be interesting to dissect the diffusion of interesectional thought as a case study. It has obviously Sapir-Whorf-ed vast swaths of social issues and is en route to becoming part of political campaign argot.
henry.farrell  knowledge  political_economy  economic_policy 
january 2019 by rvenkat
Why Jeff Bezos Should Push for Nobody to Get as Rich as Jeff Bezos
Sept. 19, 2018 | The New York Times | By Farhad Manjoo.

Why does Jeff Bezos have so much money in the first place? What does his fortune tell us about the economic structure and impact of the tech industry, the engine behind his billions? And, most important, what responsibility comes with his wealth — and is it any business of ours what he does with it?.........Bezos’ extreme wealth is not only a product of his own ingenuity. It is also a function of several grand forces shaping the global economy...the unequal impact of digital technology..... direct economic benefits have accrued to a small number of superstar companies and their largest shareholders.....the most important thing Bezos can do with his money is to become a traitor to his class,” said Anand Giridharadas, author of a new book, “Winners Take All.”.....Giridharadas argues that the efforts of the super-wealthy to change the world through philanthropy are often a distraction from the planet’s actual problems. To truly fix the world, Mr. Bezos ought to push for policy changes that would create a more equal distribution of the winnings ......there are fans of Amazon who will dispute the notion that Bezos’ wealth represents a problem or a responsibility....He acquired his wealth legally and in the most quintessentially American way: He had a wacky idea, took a stab at it, stuck with it through thick and thin, and, through patient, deliberate, farsighted risk-taking,.......Tech-powered businesses are often driven by an economic concept known as network effects, in which the very popularity of a service sparks even greater popularity. Amazon, for instance, keeps attracting more third-party businesses to sell goods in its store — which in turn makes it a better store for customers, which attracts more suppliers, improving the customer experience, and so on in an endless virtuous cycle........Mr. Bezos’ most attractive quality, as a businessman, is his capacity for patience and surprise. “This is guy who was willing to buck what everyone else thought for so long,” Mr. Giridharadas said. “If he brings that same irreverence to the question of how to give, he has the potential to interrogate himself about why it is that we need so many billionaires to save us in the first place
Amazon  Anand_Giridharadas  books  economic_policy  economies_of_scale  Erik_Brynjolfsson  Farhad_Manjoo  Jeff_Bezos  third-party  high_net_worth  human_ingenuity  ingenuity  moguls  network_effects  philanthropy  superstars  virtuous_cycles  winner-take-all 
september 2018 by jerryking
Paul Pfleiderer a Chameleons: The Misuse of Theoretical Models in Finance and Economics (2014) | Stanford Graduate School of Business
Chameleons: The Misuse of Theoretical Models in Finance and Economics
By Paul Pfleiderer
March 2014Working Paper No. 3020
Finance
In this essay I discuss how theoretical models in finance and economics are used in ways that make them “chameleons” and how chameleons devalue the intellectual currency and muddy policy debates. A model becomes a chameleon when it is built on assumptions with dubious connections to the real world but nevertheless has conclusions that are uncritically (or not critically enough) applied to understanding our economy. I discuss how chameleons are created and nurtured by the mistaken notion that one should not judge a model by its assumptions, by the unfounded argument that models should have equal standing until definitive empirical tests are conducted, and by misplaced appeals to “as-if” arguments, mathematical elegance, subtlety, references to assumptions that are “standard in the literature,” and the need for tractability.

Download
financial_system  downloaded  macroeconomics  economic_policy  economic_theory  economic_models 
april 2017 by dunnettreader
Reading: Barry Eichengreen (2011): Economic History and Economic Policy via Brad DeLong
Barry Eichengreen (2011): Economic History and Economic Policy - EHA Presidential Address 2011
As you read, formulate your answers to the following questions:
1. What does Eichengreen think are the uses of history, as shown in the use of history in trying to understand the macroeconomic crisis that began in 2008?
2.What does Eichengreen think are the abuses of history, as shown in the use of history in trying to understand the macroeconomic crisis that began in 2008?
3.What rules and approaches does Eichengreen arrive it for future people trying to use history better?
Downloaded via iPhone to DBOX
monetary_policy  historiography-postWWII  QE  fiscal_policy  unemployment  historiography-19thC  economic_history  economic_policy  Keynesianism  speech  FX-rate_management  downloaded  central_banks  Great_Depression  historiography  FX  austerity  financial_system  financial_crisis  financial_regulation  Minsky  historiography-20thC  FX-misalignment  Great_Recession  inflation 
january 2017 by dunnettreader
Antonella Alimento - Beyond the Treaty of Utrecht: Véron de Forbonnais's French Translation of the British Merchant (1753): History of European Ideas: Vol 40, No 8
Pages 1044-1066 | Published online: 06 Nov 2014
http://dx.doi.org/10.1080/01916599.2014.968331
This study focuses on the cultural and political context from which stemmed the French translation of the British Merchant. The paratextual and macrostructural interventions that characterised Le négotiant anglois clearly demonstrate that the translator, Véron de Forbonnais, used his work to set out his own epistemological method and his way of looking at inter-state relations. With the book, Forbonnais had distanced himself from Gournay by rejecting the idea that in order for France to prosper in a situation of international competition the government needed to adopt a muscular strategy that included the adoption of a navigation act modelled on the one enacted by Britain in 1660. At the same time, Forbonnais warned French decision-makers that signing commercial treaties with the maritime powers might also be prejudicial to national economic interests. Forbonnais supplied qualified French readers not only with an annotated edition of the British Merchant but also with a translation of Davenant's Of the Use of Political Arithmetick. In so doing, he proposed to his audience a type of governance based on a competent use of statistics. In conclusion, I will argue that in Le négotiant anglois Forbonnais anticipated the key political and economical tenets of his project of ‘monarchie commerçante’, which he later set out in the Principes et observations æconomiques (1767) in order to counter the rise of the epistemology and plans for a ‘royaume agricole’ put forward by the physiocratic movement.
Keywords: British Merchant, Gournay, Davenant, navigation act, treaties of commerce, ‘balance du commerce’
article  paywall  18thC  intellectual_history  political_economy  international_political_economy  France  British_foreign_policy  economic_theory  economic_policy  Physiocrats  commerce  mercantilism  competition-interstate  Navigation_Acts  trade-agreements  trade-policy  Gournay  Davenant  translation  reception_history  French_government  enlightened_absolutism  balance_of_power  statistics  government-data 
december 2016 by dunnettreader
Ida Nijenhuis - For the Sake of the Republic: The Dutch Translation of Forbonnais's Elémens du commerce | History of European Ideas: Vol 40, No 8 (2014)
History of European Ideas
Volume 40, 2014 - Issue 8: Translation, reception and Enlightened Reform: The case of Forbonnais in eighteenth-century political economy
For the Sake of the Republic: The Dutch Translation of Forbonnais's Elémens du commerce
Ida Nijenhuis
Pages 1202-1216 | Published online: 03 Nov 2014
http://dx.doi.org/10.1080/01916599.2014.968339
The open access article from the special issue on Forbonnais - downloaded to Tab S2
article  downloaded  political_economy  intellectual_history  18thC  French_Enlightenment  economic_theory  economic_policy  translation  Dutch  commerce  commerce-doux  mercantilism  Bolingbroke  maritime_powers 
december 2016 by dunnettreader

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