Productivity

Productivity looms large in public policy discussions yet many find themselves hard-pressed to explain exactly what the term means. Even within economics, its nature and significance is contested and the focus of complex debate. Michael Haynes cuts through the jargon and political sloganeering to provide ...

Blockchain and the digital economy

the socio-economic impact of blockchain technology

Blockchain technology has the potential to disrupt digital interaction across our economy and society. As the internet has changed our lives, the potential for blockchain and distributed ledger technologies to do the same is considerable. Fred Steinmetz, Lennart Ante and Ingo Fiedler assess this rapidly ...

Austerity

When is it a mistake and when is it necessary?

Austerity has dominated economic debate since the financial crisis of 2008. Governments have implemented austerity policies by reducing their spending on goods and services, increasing taxation and cutting welfare budgets. John Fender explains how austerity (or "fiscal consolidation") works in theory and how it has ...

The gig economy

The "gig economy" is a relatively recent term coined to describe a range of working arrangements that have previously been denoted as precarious, flexible and contingent. These may include casual workers, temporary agency workers, those on zero-hours contracts and dependent contractors. This books seeks to ...

The informal economy

The "informal" economy ? economic activity and income outside government regulation, taxation and observation ? is, by its very nature, difficult to quantify. Recent estimates suggest it accounts, in OECD countries, for around 13% of national income (in the UK, the equivalent of £150 billion) and in ...

Marginalism

The notion of marginalism is central to modern economic theory. Its emergence, in the 1870s, underpinned the change from classical economics to modern (micro)economics, described by Schumpeter as a "revolution". This book explores the origins of the concept, its development and role in modern ...

Degrowth

The term "degrowth" has emerged within ecological and other heterodox schools of economics as a critique of the idea (and ideology) of economic growth. Degrowth argues that economic growth is no longer desirable - its costs exceed its benefits - and advocates a transformation of economies so ...

The living wage

The term "living wage" is often confused with "minimum wage" and in its implementation it has lacked a consistent meaning despite being widely used as a campaigning slogan. This short introduction explains exactly what it is and assesses whether it is an effective measure for ...

Behavioural economics

The rise of behavioural approaches in economics has been one of most significant developments in the study of economic decision-making in recent years. This book introduces the topic of behavioural economics to a beginning readership, explaining its approach and methodology and assessing its successes and ...