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"Access" to upward mobility: A case study

"Access" to upward mobility: A case study

In June 2016, the New York Times published an exposé on Valparaiso University School of Law and their process for recruiting new students. The piece provoked a polemic on the subject of the place of markets and government intervention in education because it revealed that the problematic practices employed by the school were simply standard for a certain level of institution. It was a very…

The case for the sharing economy

Blogger: Bill Wirtz
The case for the sharing economy

The sharing economy is not only a different way of presenting services such as Uber or Airbnb, but actually a wide range of companies that operate on the basis of shared resources to maximise their utility. Innovations in this area, however, require rethinking  the State's current authorisation system to give more flexibility to companies, employees and consumers. Uber’s example…

Global migration numbers refute the rhetoric of invasion

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Global migration numbers refute the rhetoric of invasion

The anti-immigration wave that has emerged over the last years on both sides of the Atlantic has contributed to spreading a number of mantras about the migration phenomenon on a global scale. I myself have tried to debunk some of the myths related to the economic impact of immigrants on host countries, pointing out that most claims are either false or overstated (e.g., here, here, or here).…

The Brexit divide: region and identity

The Brexit divide: region and identity

Political scientist Matthew Goodwin, co-author, along with Roger Eatwell, of National Populism: The Revolt Against Liberal Democracy, has called Brexit a “purple” vote, i.e. neither left or right but a melding of the two spectra, though often with differing or completely opposing agendas. A long-form piece by the BBC provides perspective on Goodwin’s assertion. The main…

What is Modern Monetary Theory? (III): A Critique

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What is Modern Monetary Theory? (III): A Critique

A widespread idea among MMT proponents is that governments can never go bankrupt. And to some extent, this is true. If a government has the capacity to print money, it can’t strictly default on its debt. Put differently, a government with monetary autonomy will always be able to print money to repay its debt in nominal terms. But at what cost? Imagine you buy a one-year government bond for…

What is Modern Monetary Theory? (II): A Critique

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What is Modern Monetary Theory? (II): A Critique

In the last months, the US political debate has revolved around a number of proposals (e.g., Bernie Sander’s Medicare for All or Alexandria Ocasio-Cortez’s Green New Deal) that, if materialized, would send government expenditures through the roof. Most economists would tell you that, in the long run, these new programs must be financed either by increasing taxes or by trimming other…

What is Modern Monetary Theory? (I): Some Ideas

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What is Modern Monetary Theory? (I): Some Ideas

In an interview last January, Democratic Party’s rising star Alexandria Ocasio-Cortez brought attention to so-called Modern Monetary Theory (MMT), a theory that challenges the foundations of mainstream economics regarding fiscal and monetary policy. Whereas its supporters see in MMT a solid theoretical framework with which to justify the expansion of public spending, its detractors argue…

What's behind skyrocketing rental prices in Spain?

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What's behind skyrocketing rental prices in Spain?

Last month, Spain’s prime minister Pedro Sánchez was forced to call a snap election after Congress rejected his budget proposal. The call for elections and subsequent dissolution of parliament has not, however, prevented Sánchez’s caretaker government from continuing legislating via executive orders. Even though these executive orders need to be approved by the…

Book Review: The Clash of Economic Ideas

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Book Review: The Clash of Economic Ideas

The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years By Lawrence H. White Cambridge University Press; 1st edition (April 9, 2012) 438 pages, $39.77   “I’m rather good at it”, said a young John Maynard Keynes to a friend shortly after starting the only economics course he would take in his life; a course that would turn a…

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