Global

How Venezuela’s socialist dream collapsed into a nightmare

How Venezuela’s socialist dream collapsed into a nightmare

This article was first published on Vox on May 26, 2016. Venezuela is in the midst of a stunning social, political, and economic collapse. The country of 30 million people is facing dire food and medicine shortages, frequent power outages, serious political unrest, the world’s highest inflation rate, rampant violentRead 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

The political economy of international migration. Sebastian Galiani and Gustavo Torrens

The problems associated with the current wave of migration into Europe has put the debate about migration policy back at the top of the public agenda. Similar discussions will no doubt take place during the coming year as the United States gears up for its next presidential elections. Opinions andRead More