September 21, 2017

Do economists care about inequality

The traditional view of economics is that it is a discipline that cares little for how the income and wealth of a nation is distributed. In Module 9.3 of our own text we come across the following: ‘How efficiently an economy’s resources are allocated and how evenly an economy’s income is distributed are not related. […]

Fracking and future UK on-shore natural gas production

The proposed use of ‘fracking’ to increase on-shore gas production has caused considerable controversy in the UK over the past decade or so. Fracking is a long-established technique for opening up natural gas reserves in ‘tight’ formations where the encasing shale contains limited cracks and fissures. Fracking opens up cracks and fissures so that the […]

HR and AI

Writing recently in the UK professional HR journal ‘People Management’ Georgi Gyton and Robert Jeffery tell their readers that ‘Chatbots can already perform basic HR roles, and what’s coming next is a game-changer’. Chatbots are text-based applications that carry out a ‘natural language’ conversation by accessing a database of predetermined phrases. Lloyds and RBS already […]

Strategy and the future of Olympic Games bidding

I have previously written about the Olympic Games as a mega project and the unique human-behaviour characteristics that enable its scheduled completion time and time again, mostly by compromising cost. Last year’s Rio Olympic Games, for example, completed with just over 50 per cent cost overrun. There have been much worse cases in the past, […]

Why teach entrepreneurship?

It’s an old question: “can you teach entrepreneurship?” Many people believe that entrepreneurship just happens – people are either entrepreneurs or they are not. As a consequence, what’s the point in teaching it? Certainly, there’s plenty of evidence that entrepreneurship happens in the absence of formal education. Look at Richard Branson of Virgin or Steve […]

Is entrepreneurship your cup of TEA?

Entrepreneurship is a key driver of the global economy and the World Economic Forum (WEF) says fostering entrepreneurship pays dividends across all the sectors, allowing new ideas, models and energy to disrupt what goes before it. New research from WEF breaks entrepreneurial activity down into two distinct areas. The first is total early-stage entrepreneurial activity […]

Unintended consequences and the amazing world of sheep

We love sheep in Scotland. We already have more sheep than people as evidenced by the excellent publication “Sheep Facts: Find out more about the amazing world of sheep“. However, not satisfied with that, we were the first in the world to clone one and give her a pet name (Dolly). So it was not […]

Buy or Rent? It is not all about the capital gains

A home functions both as a shelter and an investment. Capital gains are commonly perceived by households as the main source of value when buying as opposed to renting, but I would like to shed some light on other intrinsic value drivers. The appreciation in house prices can be considered as an external source of […]