by Nuno Palma (University of Manchester and CEPR). Republished with minor adjustments from the blog “Economic Growth in History”
In this post I write about the connections between Paul Romer’s work, which is essentially applied theory, and the empirical work on long-run economic growth done by economic historians. How was Romer influenced by the work of economic historians? has he influenced economic history? and have his theories been confirmed by the recent work of economic historians? (preview: I will argue that the answers are: yes; not much; and no). Nevertheless, my point above is not that Romer is wrong in general; in fact some of his ideas *about ideas* are fundamental for us to think about growth in the past (read on if this isn’t clear yet.)
Paul Romer in 2005. Wikimedia Commons
Paul Romer’s was a well-deserved and long-anticipated prize. Many predicted he would eventually win, including myself in my very…
View original post 1,074 more words
With parliament set to vote on the government’s Brexit deal today, there is much speculation about what will happen if it is rejected. Here, former Clerk of Committees Andrew Kennon analyses the potential scenarios, including whether or not the House of Commons could end up running the country directly.
A key concern for the House of Commons when voting on the proposed deal with the European Union will be not only the merits of the agreement itself, but what happens if it is defeated. In theory, parliament – and in particular the House of Commons – is the ultimate source of constitutional authority within the UK system. But, in this particular circumstance, if MPs reject what is on offer, will they be able to take the initiative and impose a different course of action, or will they simply have to wait for the government to act?
The key problem for…
View original post 1,374 more words