Posts Tagged SAGE

The government must take back control of the Covid narrative

The government must take back control of the Covid narrative

The word “narrative” is usually seen as being a posh way of saying “story”. But the idea of narratives is one which is gaining traction in economics. Last year, for example, Nobel laureate Robert Shiller of Yale published a book entitled “Narrative Economics”.  He argued that it

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Heavy-handed Westminster diktats have eroded trust — now only localised Covid policy can restore it

Heavy-handed Westminster diktats have eroded trust — now only localised Covid policy can restore it

Last month, the official group of scientific advisers — SAGE — warned the government that only a quarter of those who need to self-isolate due to coronavirus symptoms were in fact doing so. This illustrates a concept which is of great practical importance: namely the conflict between

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Incentives are a better way to tackle Covid-19 than blanket lockdowns

Incentives are a better way to tackle Covid-19 than blanket lockdowns

A great deal of government policy during the Covid crisis has involved regulation. Given a choice, economists usually prefer to use incentives. Altering the relative costs and benefits of an action is a well-established way to alter behaviour. Perhaps the government has been listening. A big stick

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