Posts Tagged David Ricardo

To pay for this crisis, the government must keep in mind Ricardian equivalence

To pay for this crisis, the government must keep in mind Ricardian equivalence

John Maynard Keynes could certainly craft a neat phrase. In the Second World War, he wrote in his pamphlet How to Pay for the War: “It is only in a free community that the task of government is complicated by the cause of social justice.” The impact

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The economic impact of Brexit tariffs only tells us half the story

The economic impact of Brexit tariffs only tells us half the story

Brexit is about much more than the economic costs and benefits, but the idea that the former dramatically outweigh the latter has become the received wisdom in much of the media. Report after report emerges which purports to show that, under any of the various trade arrangements

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Blame restrictions on the supply of land for new homes for rising wealth inequality

Blame restrictions on the supply of land for new homes for rising wealth inequality

Official data released last week on London house price increases in 2016 generated a lot of interest.  Given that housing represents by far the most important component of wealth for most people, it is not surprising that stories like this are read avidly. There is a feeling

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No wonder free trade is under threat: we’re just rediscovering its losers

No wonder free trade is under threat: we're just rediscovering its losers

It had been an article of faith among economists and policy-makers that free trade is a Good Thing. Trade liberalisation was a key feature of the world economic order enforced by the United States after the Second World War. For decades, the trend of removing trade barriers led to

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History shows why robots won’t destroy our jobs

Economics is often described as the dismal science, but it often contains cheerful material. A paper by the leading American economic historian Joel Mokyr made for exuberant holiday reading. Written for the top Journal of Economic Perspectives, it is entirely in English and contains not a single

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“Ricardo, Ricardo, that wonderful guy”: innovation, job losses and living standards

Here is your starter for ten. What do the Uber app and David Ricardo have in common? Ricardo, I hear you ask. Scarcely known outside academic economics, he ranks equal with Adam Smith and Keynes as the greatest ever British economist. His classic Principles of Political Economy

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