Economic history

Leandro de la Escosura, 15 June 2019

The concept of human development views wellbeing as being affected by a wide range of factors including health and education. This column examines worldwide long-term wellbeing from 1870-2015 with an augmented historical human development index (AHHDI) that combines new measures of achievements in health, education, material living standards, and political freedom. It shows that world human development has steadily improved over time, although advances have been unevenly distributed across world regions.

Peter Neary, 14 June 2019

David Ricardo was the first economist to think rigorously about international trade, and his theory of comparative advantage has stood the test of time. So why do so many politicians ignore it? And what would he do about Brexit? Peter Neary of the University of Oxford talks to Tim Phillips.

Minouche Shafik, 07 June 2019

This week UN special rapporteur claimed the UK's social safety net has been "replaced with a harsh and uncaring ethos". Dame Minouche Shafik, director of the LSE, talks to Tim Phillips about whether our welfare states can survive in their current form, and what might replace them.

Michael Bordo, 07 June 2019

Growing international imbalances are widely understood to have led Nixon to end gold convertibility in 1971. This column argues that a key fundamental underlying these imbalances was the rising inflation in the US, in turn created by US macroeconomic policies. President Nixon blamed the rest of the world instead of correcting US monetary and fiscal policies. It also identifies similarities between the imbalances of the 1960s and 1970s and those of today, especially regarding fiscal policies and the use of tariff protection as a strategic tool.

Debin Ma, 04 June 2019

Over the last four decades, China’s economy grew at an astonishing pace while remaining firmly in the grip of an authoritarian political regime, thereby upending long-settled economic models. But an earlier era in Chinese history tells a different story. This column examines the period from 1900 to 1937, when rules governing the treaty port of Shanghai attracted major Western banks (and sheltered the Bank of China’s Shanghai branch) by curbing or side-stepping state power. This is a rare glimpse into a period of Chinese history in which financial practices were largely freed from the constraints of authoritarian rule. 

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