Posts Tagged Gresham’s Law

Gresham’s Law in Education: How the Bad Drove Out the Good

Young adults in England have scored almost the lowest result in the developed world in international literacy and numeracy tests. A study by the Organisation for Economic Co-operation and Development (OECD) shows how England’s 16 to 24 year olds are falling behind their Asian and European counterparts.

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Scotland could be a scientific test bed for monetary theory

According to the Scottish National Party, after the referendum on independence next year, Scotland will be a land of milk and honey. The highest per capita levels of public expenditure in the UK can easily be sustained. The whole of the revenue from North Sea oil and gas will

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Why teachers are just like bankers

The current highly emotional debate about GCSE grades is not very enlightening.  But what has happened tells us a lot about how incentives matter, how they affect outcomes.  And at the same time, it shows that unless a proper set of social norms is in place, incentives

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