The poverty of economic history

Image source: recessionhistory.info The biggest problem with governments is that they are run by politicians whose first concern is the electoral cycle. The second biggest problem is that these politicians tend to have advisors with economics degrees from top universities where the economic history courses have limited appeal alongside the finance-oriented courses that are viewed [...]

Krugman on ‘An Inconvenient Truth’

Image source: www.lessig.org In the New York Times today, there is an excellent op-ed piece from Paul Krugman (password required) on the Al Gore movie that is currently making a lot of people shift uncomfortably in their seats of corporate power in the US (particularly those with links to the fossil fuel industries). The speculation [...]

The good oil on oil

An article published in the New York Times last week has caused quite a stir. The Oil Crunch by Paul Krugman (reproduced below) makes reference to real reason for the Iraq war; viz. control over oil prices, and how things have backfired somewhat in that there is less security over the supply of oil than [...]