democracy

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Democracy: a drag on economic development?

We take it as a given that democracy and wealth go hand in hand. However, is this really as much of a truism as we think? Does democracy result in inefficiency and an unwillingness on the part of elected officials to make tough decisions? Quoc Anh Nguyen examines this difficult questions.

Ideology ain’t dead

It might be fashionable to say otherwise, but the big ideas are still at play in modern Australia. Brody Viney finds them hiding in plain sight, and reflects on their importance for economists as well as voters.

Why study economics?

Republished from The Australian, by John Lodewijks, University of Western Sydney

WHY does a case for economics need to be made in the first place? Surely economics is the foundation discipline for studies in business, finance, accounting and related fields. Acknowledged as the queen of the social sciences, the scientific community recognises the value of the discipline with the award of Nobel Prizes.

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Limits of CSR: mere lyrics versus the current political economy paradigm

When I started to research corporate social responsiblity (CSR) a friend of mine exclaimed: “So you are studying something that does not exist!” My interest did not decrease after that, although I got many skeptical comments from some professors as well. Probably for many, the debt crisis in the Eurozone or the reasons of the financial crisis of 2007-2009 seem to be more up-to-date and crucial topics for research. Why? Because they are all about money – the key issue of the current economic paradigm.

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Has Democracy Become an Obstacle to Economic Prosperity in the Developed World?

Democratic governments by definition must have the support of the majority of voters in to remain in power. One potentially fatal flaw in this system is that whilst the majority wield the power to hire and fire politicians, this same majority consists of voters who are often ignorant of how the economy works and are either resistant or downright hostile to any changes that threaten their own short term self-interest. Appealing to popular misconceptions and fear mongering have become commonplace tools of attracting voter support even if the long term economic prospects of the country are diminished as a result.

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