A number of recent videos uploaded on YouTube on the effects of the Corona crisis on the global economy and the state of political economy to deal with this crisis. Is the reaction to the corona crisis by the governments a missed opportunity for global economic reform? PS An interesting article on the missed opportunity…
Commodities: I―What are they?
Recently the world was confronted with the phenomenon that oil had a negative price due to the tremendous drop in demand for oil due to the worldwide Corona crisis lockdown, as widely reported in the media. From an economist’s perspective this should be quite shocking and worrying, since traditional market theory does not really allow…
Thoughts inspired by Rutger Bregman
Rutger Bregman is a Dutch historian, who recently published some interesting and rather inspirational books in the Dutch language. Several of these have been translated now. The two main books I am referring to are: Bregman (2017), Utopia for Realists: and how we can get there, Bloomsbury, translated by Elizabeth Manton, originally published as Gratis…
Surveying the literature on network formation under mutual consent
I just posted a survey on game-theoretic methods of understanding network formation under the hypothesis of mutual consent in link formation. The introduction of consent in link formation imposes a coordination problem in the network formation process. This survey explores the conclusions from this theory and the various methodologies to avoid the main pitfalls.The main…
Two volume book on the social division of labour is now published
Both volumes are now published with Palgrave-Macmillan.
How institutions undermine the economy
An interesting article was published today on The Conversation web site about the role of corporate law in the demise of BHS, a British retail corporation that was deliberated bankrupted by its main shareholder and director, Philip Green. All in all, it is a horrendous case of how corporate law facilitates the undermining of economic wealth generation…