A time-honoured but often problematic practice in basic welfare economics is to separate efficiency considerations from distributional concerns.
Industry Opinions

Getting Carbon Border Taxes Right

A time-honoured but often problematic practice in basic welfare economics is to separate efficiency considerations from distributional concerns. In an economy with given endowments and a given distribution of them, the argument goes, there exists a set of prices that will guide competitive behaviour toward an efficient allocation of resources. If the result is not […]

Last month, Russian President Vladimir Putin initiated an overhaul of Russia’s government and constitutional order, indicating that – one way or another – he will remain in power after his term ends in 2024.
Industry Opinions

Putin’s Usual Suspects

Last month, Russian President Vladimir Putin initiated an overhaul of Russia’s government and constitutional order, indicating that – one way or another – he will remain in power after his term ends in 2024. He has also adjusted his economic policy, on the assumption that more state investment will boost growth. But, here, Putin’s hopes […]

Despite the buzz around climate action at this year’s World Economic Forum meeting in Davos, Switzerland, the world’s current environmental prospects look grim.
Industry Opinions

Is Global Climate Solidarity Impossible?

Despite the buzz around climate action at this year’s World Economic Forum meeting in Davos, Switzerland, the world’s current environmental prospects look grim. There are three obstacles: climate-change denial; the economics of reducing greenhouse gas (GHGs) emissions; and the politics of mitigation policies, which tend to be highly regressive. According to the Intergovernmental Panel on […]

Over the last decade, the world economy has experienced a steady build-up of debt, now amounting to 230% of global GDP. The last three waves of debt caused massive downturns in economies across the world.
Industry Opinions

The Approaching Debt Wave

Over the last decade, the world economy has experienced a steady build-up of debt, now amounting to 230% of global GDP. The last three waves of debt caused massive downturns in economies across the world. The first of these happened in the early 1980s. After a decade of low borrowing costs, which enabled governments to […]

European Union member states and the European Parliament are soon expected to adopt a so-called “taxonomy” for classifying green investments, after reaching an agreement last month on a list of “sustainable” economic activities.
Industry Opinions

The EU’s Risky Green Taxonomy

European Union member states and the European Parliament are soon expected to adopt a so-called “taxonomy” for classifying green investments, after reaching an agreement last month on a list of “sustainable” economic activities. Once the new system enters into force, most likely this year, the European Commission will use this list to determine which financial […]