Economics Archives

Water, water everywhere, not a drop to drink: Political stagnation and water fragility in South Africa’s Free State

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Safe and clean drinking water and sanitation are basic human rights.

After 30 years of post-Apartheid single-party rule, corruption and ineffective governance are widespread in South Africa. In the Free State Province, the situation with respect to water and sanitation provision is so dire that it amounts to a human rights crisis. Reinstating water rights and addressing Free State water fragility will require a paradigm shift in the political landscape, not […]

Science, AI, and securing a sustainable future

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Around 95% of the world’s population agree with the concept of sustainable development goals (SDGs) as a way of building a sustainable future in the face of the climate crisis. But SDGs come with a hefty price tag. Stefan Brunnhuber is a clinician and socioeconomist who believes the solution to this conundrum is a switch in the global mindset. Sustainability […]

How do power imbalances influence national corruption and welfare?

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A deep-rooted culture of equality provides high living standards for most citizens.

Professor Wolfgang Scholl of Humboldt University in Berlin, Germany, has built a detailed model that shows how and where corruption thrives and the damage it causes to social welfare. The social-psychological, cultural, and economic causes and effects are disentangled, and the ethical imperatives are discussed that support a positive outcome. The model confirms empirically that unequal power relations induce corruption […]

The FMsquare Foundation: Forging a fuzzy future

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The FMsquare Foundation is an organisation dedicated to spreading the holistic values of ‘fuzzy logic’ – a varied and reflexive ‘natural’ logic that accounts for infinite values and human imprecision in data processing. In an exciting interview with Research Outreach, Andreas Meier (Founder), Edy Portmann (President), and Witold Pedrycz (Ambassador) discuss their respective roles as fuzzy logic evangelists working with […]

The Money View: An interview with Professor Perry Mehrling

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Since 2018, Perry Mehrling has been Professor of International Political Economy at Boston University. Prior to this, he served for three decades as Professor of Economics at Barnard College, Columbia University. His work is now primarily concerned with articulating and finessing the Money View, a compelling approach to monetary economics which synthesises ideas from both economics and finance. In our […]

Towards more equitable money creation

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Professor Peter Dietsch highlights a number of biases in the current monetary system that allow for a bias against those who are less well-off

Money creation should be governed with an eye on ethics, but its current path follows an unfair formula that entrenches injustice. Philosopher and economist Professor Peter Dietsch of the University of Victoria, British Columbia, Canada, points out a number of biases in the current monetary system. He suggests a normative framework for assessing what a more equitable money creation system […]

The extraordinary ups and downs of Bitcoin: Understanding the cryptocurrency’s market behaviour

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Understanding the relationship between Bitcoin values and underlying economic drivers has challenged traditional perceptions of how currency and other financial asset dynamics work. Dr Dimitrios Koutmos of Texas A&M University, Texas examines the Bitcoin phenomenon and offers valuable insight into this most volatile of newcomers to the investment scene, and its short but dynamic life so far. There has perhaps […]

Consciously calculating unconscious bias: The role of dichotomous valuation

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When making a decision, the first chooser has the privilege of first-mover advantage.

Like with any choice, when faced with data selection, people are influenced by their own biases. A new research paper by econometric expert Dr Xingwei Hu of the International Monetary Fund evaluates how people subconsciously view different variables and the way this influences their decision-making. By assessing decisions through dichotomous valuation, Dr Hu is able to show the extent to […]

Why we need to reassess the sustainability of aging populations

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The rise of fossil fuels and with it mechanisation means that people now live much longer and healthier lives.

Modern societies have largely been able to grow and develop due to fossil fuels and monetary systems. However, with more aging populations around the world, questions are starting to be asked about the sustainability of this paradigm. Professor Kozo Torasan Mayumi of the Kyoto College of Graduate Studies for Informatics in Japan reassesses the double-edged nature of fossil fuels and […]

Free blood donation vs. the plasma market

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Blood products are vital both for transfusion purposes and the production of blood-derived medicines. Currently, the two ways of obtaining blood products are via free blood donations or via the international plasma market, an industry reliant on paid blood donations. Professor Jean Mercier Ythier of the University of Paris Panthéon-Assas explores the economics and ethics of the plasma market and […]