Tag Archives: institutions
The Economic Role of Monarchy
In the wake of the abdication of King Juan Carlos of Spain, the New York Times ran a short piece on monarchies noting that 12 monarchies still survive in Europe with eight of them being liberal democracies – Belgium, Britain, Denmark, Luxembourg, the Netherlands, Norway, Spain and Sweden. Incidentally, these Scandinavian monarchies in particular are […]
Does Christmas Really Create Deadweight Loss?
"I want a baby doll and a waterproof [coat] with a hood and a pair of gloves and a toffee apple and a gold penny and a silver sixpence and a long toffee." Annie Howard, Christmas 1911. In 1993, Joe Waldfogel asked his undergraduates to estimate the total amount paid by the gift-givers for all […]
Dealing with the Current Financial Crisis
Well, I'm certainly not a macroeconomist and I have even less expertise when it comes to the world of money and banking and international finance. Yet, given the current situation in financial markets and the world economy, I cannot help but wonder if the problem is also institutional. So, here it goes.
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