economic development

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Chile: how free trade debilitated a nation

“…when anyone has attained the summit of greatness, he kicks away the ladder by which he has climbed up, in order to deprive others of the means of climbing up after him”. In this insightful article, David explores just how the United States kicked away the ladder to Chile’s prosperity.

Cultural Chickens and Economic Eggs

Which comes first? As economists become more and more willing to investigate this relationship, we may be inching closer to an answer. Joel Lee explores the expanding field of cultural economics.

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.

Book Review: The Great Escape

The past two and a half centuries have witnessed the largest and most spectacular increase in human wellbeing in history. Economies accounting for the majority of the world’s population have grown exponentially, supporting rapid population expansions while raising material living standards. At the same time, life expectancy in most parts of the world has soared. A child born in sub-Saharan Africa today is more likely to live to the age of five than a child born in the UK just a century ago.

Angus Deaton, an economist at Princeton, gives a broad overview of both of these dimensions of progress, telling the intertwined stories of the economic and medical progress that have shaped the modern world. His thesis is largely positive: mankind has made significant progress raising its wellbeing.

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