Archive for category Growth
Putting the BOOM back into Economics
OK, I know, at times Economics and Economists get some bad press about their image, their character, their long explanations, their poor predictions .. their long sentences … ahem… But one thing that is not disputed is that the world still puts a lot of store in their advice. And particularly so when it comes to very big economic fluctuations. You will no doubt have seen claim and counter-claim on the benefits and costs of following this policy or that when it comes to ‘fixing’ the world economy after the latest recession.
Two names loom large in that debate: Hayek and Keynes. And now, thanks to the superb script and deft direction of the folks over at Econ Stories, Economics eduction now, literally, raps it to the masses. Watch and learn, folks. Watch and learn …
Africa has to find its own road to prosperity (FT opinion)
Posted by sangus in Development, Growth, Poverty on 11 May, 2009
(Thanks to Ben Hirons) With respect of Dambisa Moyo’s thoughts on Dead Aid here is another President of an African nation, this time, Paul Kagame of Rwanda making a case for leading Africa out of poverty by innovation rather than systemic ‘plans’, or ’strategies’. As Kagame says, Rwanda faces enormous challenges, both geographically, politically, historically, and in terms of education and health, and yet, the optimism he displays is both courageous and determined.
Read his comments here:
FT.com / Comment / Opinion - Africa has to find its own road to prosperity.
Note: Kagame’s target of a four-fold increase in per-capita incomes in ‘a generation’ (or around 20 years), requires a GDP/cap growth rate of 7%. Considering that Rwanda has a projected population growth rate of just under 3%, this will require a GDP growth rate of 10%. And there, if ever, is the African challenge.
Jakob Madsen on Models of Economic Growth
Jakob Madsen, Professor of Economics at Monash University has spent many years in Macro-economic research. He has a particular interest in long-run growth, the models that have been used to explain it, and the data that aims to test these models. In his recent work, he is examining so-called ’second-generation’ endogenous growth models, such as the Schumpeterian growth model. In this interview, Professor Madsen talks about some of his recent work on economic growth and how this bears on economic policy for development in the world’s poorest regions.
Tim Hatton on Height and Health in Britain 1880-1950
Professor Tim Hatton of the Economics Program at the Research School of Social Sciences (ANU) spoke to us about his research on health and height (stature) in turn-of-the-century Britain. What is interesting about his work, is that his data set comes from the 1937 study by Sir John Boyd Orr of working class children in 16 locations in England and Scotland and allows the study of the famous `quality, quantity tradeoff’. The interview begins by asking Tim to explain exactly what this means.
Greg Clark on Social Darwinianism and the Industrial Revolution
Posted by sangus in Development, Growth, Interview, Podcast on 30 April, 2009
Greg Clark, Professor of Economics at University of California, Davis and author of A Farewell to Alms was recently in Australia to present a seminar on his controversial theory of Social Darwinianism to explain the industrial revolution in England. Prof. Davis, was kind enough to speak to EconomicsNow! about this work, the Malthusian Trap and why doing Economic History is well worth the effort!
The IMF says 1.4% Contraction for Australia in 2009: Can we afford it?
It seems to me that the recent discussion and alarm about the world economic recession has somehow got itself unhinged from the basic importance of the matter. For instance, take this plot:
From the BBC’s report, ‘Deeper’ recession ahead says IMF’. The text around the figure goes like this:
Whilst this is all interesting stuff, it actually gives us only half the story on global economic activity. From this report, there is no way that you can determine what is happening on the ground in these countries, or for that matter, on the lovely planet called Earth.
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