Hillary Clinton says she wants to get big money out of elections, and one of the ways she wants to do it is to curb the influence of big donors by mobilizing lots of small ones. This reform idea has become very popular recently, thanks to the concern about super PACs and billionaires that has been growing since Citizens United. But the idea is an old one. The first serious small-donor programs began more than 100 years ago, and they have been working more or less continually ever since.
Inspired by the 11 Tony awards won by the smash Broadway hit Hamilton, last month I wrote about Alexander Hamilton as the father of the US national debt and discussed the huge benefit the United States derives from having paid its debts promptly for more than two hundred years. Despite that post, no complementary tickets to Hamilton have arrived in my mailbox. And so this month, I will discuss Hamilton’s role as the founding father of American central banking.
For many years executive remuneration has been one of the ‘hot topics’ in corporate governance. Each year there is a furore around executive remuneration with the remuneration of CEOs often being a particular area of contention. This year we have seen the spotlight focussed on the remuneration of CEOs at high profile companies such as BP and WPP resulting in much shareholder comment and media attention.
Poverty can be defined by ‘the condition of having little or no wealth or few material possessions; indigence, destitution’ and is a growing area within development studies. In time for The Development Studies Association annual conference taking place in Oxford this year in September, we have put together this reading list of key books on poverty, including a variety of online and journal resources on topics ranging from poverty reduction and inequality, to economic development and policy.
And yet on exactly the same day that ASDA was confirming just how bad its sales position is, Amazon announced that it would open in early 2017 another fulfilment centre – its thirteenth – in the UK. Part—but only part—of the reason why Amazon needs more capacity is due to the initial success of its Amazon Fresh food delivery business which launched in the UK in July 2016.
A ‘kangaroo court’ is no more Australian than a Californian kangaroo rat. The term originated in the California of 1849, as a legacy of the summary and dubious efforts at informal justice on lawless gold fields. By contrast, the Australian gold fields of that period felt heavily the overbearing hand of the law. This contrast epitomes a larger paradox. Australians are seen as ‘disrespectful of authority’; the truth is they have, from their beginnings, been highly law-prone.
By the end of the twentieth century, Brazil had ranked as one of the the ten largest economies in the world, but also being that with the fifth largest population, it is facing many obstacles in economic growth. With the 2016 Rio Olympics now upon us, we’ve collated 10 interesting facts about Brazil’s economy from colonial times to the modern day.
Ten years ago Brazil was beginning to enjoy the financial boom from China’s growing appetite for commodities and raw materials. The two countries were a natural fit. Brazil had what Beijing needed – iron ore, beef, soybeans, etc. and China had what Brasilia desperately wanted – foreign exchange to address budget deficits and cost overruns on major infrastructure projects. It was a marriage made in heaven – for four or five years.
Populist angst and anger is running through the United States presidential campaign, but also through the Brexit debates, directed at the political establishment, and also at globalization (with the European Union standing in for the latter in the UK context). This anger has taken policy elites by surprise, throwing wrenches into the works of carefully planned political campaigns by mainstream Republican, Democratic, Conservative, and Labour parties on either side of the Atlantic.
India is known to have the largest number of child labourers in the world. Consequently, it has come under intense media and political scrutiny both within India and from afar. Traditional understandings of the causes of child labour have focused on the economic, social-cultural, and historical milieus specific to India, such as caste, class, corruption, gender, illiteracy, lack of law enforcement, political apathy, poverty, religion, etc.
John Shropshire used to farm celery just in Poland. Why? Because celery production is labour intensive and Poland had abundant available labour. However, he now also farms in the Fens, Cambridgeshire. Why? Because the EU Single Market gives him access to the labour he needs. Not cheap labour – John pays the living wage to his workers – but available seasonal migrant workers from Central and Eastern Europe – 2500 of them.
The eve of the opening ceremonies of the Rio de Janeiro Olympics is a good time to reflect not only on Brazil’s role as the organizer the games, but whether the experience of the host country tells us anything about the status of the BRICS–one of the most important economic groupings in the world, and one which you may never have heard of. As nations much showcased since 2001 as big, dynamic, rising countries, much of their global projection has focused as much on spectacle as on substantive achievements.
have not yet seen Lin-Manuel Miranda’s hit Broadway show Hamilton. I feel badly about this for three reasons. First, Miranda is a 2002 Wesleyan graduate, a loyal and generous alumnus who gave a great commencement speech in 2015 and remains solidly committed to the university. Second, the music and lyrics are, quite simply, amazing. Third, as an economic historian, it is heartening to see one of America’s economic heroes make it to Broadway.
We are proud to announce that the winner of this year’s George R. Terry Book Award is Trust in a Complex World, by Charles Heckscher. The George R. Terry Book Award is awarded to the book that has made the most outstanding contribution to the global advancement of management knowledge. What’s more, a further two Oxford University Press titles were named as finalists this year.
Milton Friedman is regarded as one of the most prominent economists of the twentieth century, contributing to both economic theory and policy. 31st July is his birthday, and this year marks 10 years since his death, and 40 years since he won the Nobel Prize for Economics for his contributions to consumption analysis and to monetary theory and history.
I was in a taxi in Hong Kong several years ago, stuck in traffic in the pouring rain. I said to my Hong Kong-based colleague how notable it seemed that all the apartment buildings looked exactly the same. “Cheaper that way isn’t it?” was his response, “Just design one then put up 50. Obvious really.”