Articles on Economics

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Trump has long talked about halting U.S. participation in the WTO. Reuters/Denis Balibouse

What is the WTO?

Trump has often talked about leaving the World Trade Organization. An economist explains what it is and what would happen if the president had his way.
Tighter emissions standards create costs for truck manufacturers yet provide health benefits for society. How should they be weighed? Lesterman

Why a minor change to how EPA makes rules could radically reduce environmental protection

EPA Administrator Scott Pruitt has proposed steps that would reduce economic benefits to society from new regulations. An economist who worked for Presidents Clinton and Obama calls this a strategy to justify deregulation.
Prime Minister Justin Trudeau meets with U.S. President Donald Trump in the Oval Office of the White House in Washington, D.C. in October 2017. Trump’s tariffs on Canadian aluminum and steel simply reflect a broader U.S. philosophy on international trade, and that doesn’t bode well for Canada. THE CANADIAN PRESS/Sean Kilpatrick

How Trump’s tariffs are much bigger than Trump

The underlying problem with Donald Trump's tariffs on steel and aluminum isn't Trump. It's the increasing willingness by the U.S. to impose its will on its neighbours amid rising economic nationalism.
A man browsing the shoe department in a shopping centre. Can he really afford new shoes, and does he really need them? Alex Buirds/Wikimedia

Why we perceive ourselves as richer than we think we are

Under some circumstances, people may feel wealthier than they actually are and this makes them psychologically more prone to increase their spending, as well as their borrowing.
Whether or not China and the US are successful in negotiating out of a trade war and restoring the integrated global economy, there will still be strategic tensions between the nations. THOMAS PETER / AAP

What’s at stake in the tariff negotiations between the US and China

We modelled a number of scenarios showing all increases in US or Chinese trade protection would cause international trade, and the global economy more generally, to shrink.
Lithuania’s soldiers are seen during a celebration of Lithuanian Independence Day in Vilnius, Lithuania, on March 11, 2018. The country was marking the 28th anniversary of its declaration of independence from the Soviet Union. (AP Photo/Mindaugas Kulbis)

What I learned about Eastern European democracy from Lithuania’s youth

A stint teaching university students in Lithuania leaves a longtime economics professor optimistic about the future of Eastern Europe as it continues its transition to a free-market economy.
Andrew Simms (New Weather Institute), Sally Svenlen (RE student), Larry Elliott (Guardian), Steve Keen (Debunking Economics) and Kate Raworth (Doughnut Economics) symbolically nail the “33 Theses” to the door of the London School of Economics in December 2017. rethinkeconomics.org

Debate: What is missing in the ‘33 Theses for an Economics Reformation’

Nailed to the door of the London School of Economics, the ‘33 Theses’ offer a long overdue challenge to economics dogma. But there are omissions as well.

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