Organised by: Dr. Martha Prevezer and Prof. Perri 6
The workshop includes discussions on the development of theory leading to a rethinking of neoliberalism, recasting of the concept of moral economy to integrate it with institutional explanations, a rethinking of poverty alleviation and a recognition and making visible the institutional forces that influence how people think and behave. It will also considers the causal assumptions on which policies are designed.
Venue: GC601, Graduate Centre, Mile End Campus
Date: Thursday, 13th June 2019
This event is free to attend. Register here.Read More »
In my previous post, I summarised a demand-side explanation of the British Industrial Revolution. In this post, I will outline a supply-side explanation put forward by economic historians Margaret Jacob and Joel Mokyr. According to the supporters of the supply-side explanation, Britain had a supply of human capital who were capable of using science and engineering knowledge to solve practical problems. Besides having a comparative advantage in human capital over continental Europe, by the eighteenth century, Britain had the necessary institutional environment that promoted the principles of the market economy. Interaction between the forces of market economy and science made the practical applications of scientific discoveries more successful in Britain. This did not happen in continental Europe, because, for centuries, the political and religious establishment had been restricting the advancement of science if it conflicted with their political agenda and Western Europe was politically fragmented.
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On Monday, 4th February, Dr. Sergio Petralia post-doctoral researcher at the LSE and affiliated associate of the Center for International Development at Harvard University is presenting part of his research on emergence and spatial concentration of new technologies. He will be discussing a paper titled: ‘Mapping the Technological Frontier’
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China’s recent emergence in the world economy was underpinned by a massive process of labour reallocation delivered by the country’s nascent labour market. After several decades in which labour was allocated and rewarded centrally, according to communist principles, a number of market-oriented reforms led to greater flexibility and responsiveness to demand and supply. Given the large pool of underemployed workers eager to increase their incomes, in particular in rural areas – over 150 million people according to some estimates –, the potential for growth from industrialisation and exports was considerable.
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