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Tag Archives: economics

Three revolutions economics needs

The underlying causes of current crises point to a need to reshape how economics is taught and practiced COMMENT | Edmund S. Phelps | Project Syndicate | The West is in crisis – and so is economics. Rates of return on investment are meager. Wages – and incomes generally – are …

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First pineapple farm opens in Gaza

Khan Yunis, Palestinian Territories | AFP |  Pineapples are being harvested in the Gaza Strip for the first time as part of efforts to help the impoverished Palestinian territory work towards food self-sufficiency. The fruit, for domestic sale, is grown in a 1,000 square metre greenhouse in the southern Gaza …

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Venezuelans vote in crucial regional elections

Caracas, Venezuela | AFP | Venezuelans headed to the polls Sunday in regional elections seen as a crucial test for President Nicolas Maduro and the opposition alike after months of deadly street protests failed to unseat him. Public opinion surveys predicted that the opposition would win a majority of state …

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US’s Thaler wins Nobel for ‘making economics more human’

Stockholm, Sweden | AFP | US economist Richard Thaler won the Nobel Economics prize on Monday for showing that economic and financial decision-makers are not always rational, but mostly deeply human. Bridging the gap between economics and psychology, Thaler’s research focuses on behavioural economics which explores the impact of psychological and …

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COMMENT: Economics and economic crises

COMMENT: By Paola Subacchi Once seen as modern witch doctors with exclusive knowledge, economists are now despised `experts’ Is the economics profession “in crisis”? Many policymakers, such as Andy Haldane, the Bank of England’s chief economist, believe that it is. Indeed, a decade ago, economists failed to see a massive …

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Contract theory earns pair Nobel Economics Prize

Stockholm, Sweden | AFP |  Two US-based academics won the Nobel Economics Prize on Monday for groundbreaking research on contract theory that has helped design insurance policies, executive pay and even prison management. Oliver Hart, a British-American economist, and Bengt Holmstrom of Finland “have developed contract theory, a comprehensive framework …

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