Berfrois

The industrial revolution was the turning point in global history…

The industrial revolution was the turning point in global history…

In the bigger picture, the economic history of Britain since the mid 19th century is, inevitably, a history of relative economic decline...

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Mine, Mine, Mine

Mine, Mine, Mine

To the vast majority of bitcoin investors, success means its price continues to rise. But if that is all there is to it, someday a little boy will yell, "the Emperor has no clothes", and the price will come crashing down...

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Newton and the Mint

Newton and the Mint

The currency was literally shrinking, and Newton’s first task was to sort the situation out. Making his life still more complicated, international values were based on silver, but the value of gold was soaring...

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Donald MacKenzie: Trading, Faster

Donald MacKenzie: Trading, Faster

Winning or losing the trading race can be a matter of nanoseconds...

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Bubbledom

Bubbledom

They cover the first bubble in 1720, the Latin American mining stocks bubble in the 1820s, the UK railway stocks bubble of the 1840s, the Australian land bubble of 1886-93...

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A History of the Idea of Ending Poverty

A History of the Idea of Ending Poverty

History confirms the intuition that ‘ending poverty’ has little political traction as a near-term goal when mass chronic poverty is seen to be the norm and poor citizens have little political influence...

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“As a socialist, I see it as my duty to be optimistic!”

“As a socialist, I see it as my duty to be optimistic!”

In the United Kingdom, in the shadow of a bleak Brexit, brilliant figures have emerged. One of them is Grace Blakeley, a very young commentator on economic issues...

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Debt, Cancelled

Debt, Cancelled

“I wanted to go to college to avoid being a third-generation janitor.” The man on stage at this California town hall tells a familiar story. He’s now a beloved high school principal, but to finance his education, he took out a loan—$80,000.

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Chasing Cheap Rents

Chasing Cheap Rents

I was back in Oakland for my new job. After nearly a month of looking for a place to live, I got a text from Jenny: “Would you consider a shack?”

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They’re Being Evil

They’re Being Evil

It was under extreme pressure from both press and regulators that Facebook’s Mark Zuckerberg finally turned over 3,000 Russia-linked adverts to Congress. Google and others were only marginally less evasive.

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Ergodicity Economics

Ergodicity Economics

The principles of economics form the intellectual atmosphere in which most political discussion takes place. Its prevailing ideas are often invoked to justify the organisation of modern society...

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Britain after Brexit

Britain after Brexit

"Britain has no leverage, Britain is desperate … it needs an agreement very soon. When you have a desperate partner, that’s when you strike the hardest bargain.” So warned former US treasury secretary Larry Summers...

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Things essential to life are only getting more expensive…

Things essential to life are only getting more expensive…

People keep complaining about “income inequality” and writing books about how grindingly difficult it is for an alarmingly large number of Americans to get by...

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The rentier class keep right on reaping…

The rentier class keep right on reaping…

A rentier economy (Christophers uses the term unapologetically) is driven by profits, which have increased in real terms as the poor have been denied social housing...

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Black–Scholes Misfires

Black–Scholes Misfires

‘Performativity’ has, for example, been employed by the French economic sociologist Michel Callon as a way of denoting the capacity of a mathematical model or other aspect of ‘economics’ to be more than a representation of some external reality.

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“Economics is among the least interdisciplinary and most hierarchical academic fields”

“Economics is among the least interdisciplinary and most hierarchical academic fields”

John Maynard Keynes once remarked that ‘practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.’

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‘Portugal’s radical left can claim credit for two main achievements since 2015’

‘Portugal’s radical left can claim credit for two main achievements since 2015’

Since the end of 2015, Portugal has been the scene of an unusual political drama. After failing to win a majority in parliament, the country’s long-established centre-left machine rejected the offer of a ‘grand coalition’ with its conservative rival to implement the demands of Brussels and Frankfurt.

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Economics has always operated more like a church than a science…

Economics has always operated more like a church than a science…

The progress of science is generally linear. As new research confirms or replaces existing theories, one generation builds upon the next. Economics, however...

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Elizabeth Currid-Halkett: Conspicuous Consumption Is Over

Elizabeth Currid-Halkett: Conspicuous Consumption Is Over

In the face of rising social inequality, both the rich and the middle classes own fancy TVs and nice handbags.

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Marx wondered who would educate the educator…

Marx wondered who would educate the educator…

I am not now nor have I ever been a Marxist, yet Karl Marx was one of my most important teachers.

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