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What can we expect from the Trump Administration?

What can we expect from the Trump Administration?

Donald Trump’s election as President of the United States has sparked a great deal of speculation. In this post, we will analyze the political viability of some of his proposals and explore the effects that their implementation may have on the United States and the rest of the world. Immigration:Read More

On the Old Topic of Political Economy: Free Trade or Protectionism?

On the Old Topic of Political Economy: Free Trade or Protectionism?

When we talk about Industrial protectionism, it is common to think of underdeveloped countries and, in particular, Latin American countries during the period of import-substitution industrialization. However, there are other historical cases of interest.  For example, during the second half of the 19th century, trade policy in the United StatesRead More

Institutions and development: Some thoughts and open questions

Institutions and development: Some thoughts and open questions

Capitalist institutions have clearly brought about a great deal of progress in what are today’s developed countries. It is therefore no wonder that the prevailing belief in institutional economics is that underdevelopment is chiefly a consequence of institutional shortcomings. The prevailing idea in the literature is that some countries haveRead More

A unique woman

Maria Sklodowska was born on November 7th, 1867, in Warsaw, Poland. Her parents were teachers. Poland was not a free country at the time, and Maria lived in the part of the country that was governed by Russia. She was a marvelous little girl – brilliant and full of curiosity.Read More

In memoriam: Douglass C. North

In memoriam: Douglass C. North

Douglass C. North earned himself a place in the pantheon of the most influential social scientists of all times. In 1959-1960, North was a founder of cliometrics, a group of economic historians that systematically applied statistical methods and economic theory to the study of history. However, by the late 1960s,Read More

The bearable lightness of cyber defamation

A newspaper publishes an article about someone, and that person feels that the contents of the article are defamatory. The law provides that this person can sue the newspaper for defamation and, if found guilty, the newspaper’s editors will have to retract the false statements and compensate the person forRead More

Let Coase Give Us a Ride Home. By Sebastian Galiani and Gustavo Torrens

The technology that will be needed to produce fully self-driving cars (FSDCs) is now within reach. Engineers are working on prototypes and, sooner rather than later, will have a commercial version ready. However, there is an institutional barrier that may interfere with the adoption of this important technology: Insurance companiesRead More