I see my job as trying to understand what is going on in the world of economics and finance, mainly by reading the research of others, and communicating it as best I can to others. It’s a privilege of my job that I have the time to read some of the fascinating books produced by… Continue Reading
Tag Archives: inequality
Perhaps money can buy you happiness
A lot of people believe that if they only had a bit more money – or perhaps a lot more money – then they would be happier. Many psychologists doubt this but some recent research on Swedish lottery winners suggests it is true. * Standard economic theory assumes that more of what you like is… Continue Reading
Rising monopoly power may partly explain US inequality and productivity slowdown
A new theme in explaining slow growth and productivity and rising inequality: greater monopoly power in the US. * I’ve been thinking about my forthcoming teaching for the Cambridge Advanced Leadership Programme in June, which is always an interesting session, with a lively and challenging group of delegates from across the world. I try to… Continue Reading
Western capitalism is no longer working well for most people
Since the collapse of communism, capitalism in its various different flavours is the only realistic option for countries wanting high living standards. But the US/UK variant is failing to deliver mass prosperity, which threatens to undermine it and generate a potentially ugly backlash. * The US, Sweden and Japan are all capitalist societies, meaning that… Continue Reading