Category Archives: economics

RCT, economics and qualitative research

Imagine how gratifying it is for me to wake up this morning and find this post by Edward Caar through a Twitter link: What brings me to today’s post is the new piece on hunger in Foreign Policy by Abhijit Banerjee and Esther Duflo.  On one hand, this is great news – good to see… Read More »

The Bank of Facebook?

There has been much speculation recently about the role Facebook Credits could play in becoming a global virtual currency, and even the possibility of Facebook becoming a bank. In many ways, it already is becoming a bank – just not in the traditional sense. Facebook is harnessing the power of the social graph, and has… Read More »

Chinua Achebe and Keith Hart on Africa’s Promise and Hope

Chinua Achebe, one of the greatest writers Nigeria has ever known, recently wrote an op-ed article titled Nigeria’s Promise, Africa’s Hope for the New York Times. The piece starts out with the injustices of colonisation and how Africans had no idea about what to do with independence after having gained it. The following two excellent… Read More »

Nigeria’s Central Bank governor wins international recognition

Mallam Lamido Aminu Sanusi has been named as the Central Bank Governor of 2010 for both the African continent and the entire world, by the prestigious Banker Magazine. The editor of the magazine, Brian Caplen, says that few candidate names generate an overall consensus on judging panels, and yet, when it came to finding the… Read More »

Is globalisation on the retreat in 2011?

FT’s Gideon Rachman thinks that the answer to that question might be Yes: The backlash against immigration is particularly visible in Europe. In Britain, the new coalition government has promised to reduce the number of immigrants from hundreds of thousands a year to tens of thousands. International banks and multinational companies are already complaining that their businesses are… Read More »

Karl Polanyi: The Limits of the Market

That is the title of a new book by Gareth Dale. If you are interested in economic history and the history of ideas you should check out the book. Or at least this review. The book is acclaimed as the first comprehensive book on the ideas and legacy of Karl Polanyi. If you have ever… Read More »

Why do firms exist?

Ronald Coase, the economist who theorised the reason for the existence of firms, turns 100 today. The Economist’s Schumpeter column has this really nice piece about him: His central insight was that firms exist because going to the market all the time can impose heavy transaction costs. You need to hire workers, negotiate prices and… Read More »