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toggle navigation skip to content articles reading list useful links economic thoughts and essays by rhys williams website revamp posted on 28/03/2018 28/03/2018 by rhys williams we are currently updating the look of the website, so this is our new landing page. over the course of the next year we will be consolidating material, making information easier to find and the site easier to use. you can still access the old site using the following links: lessons revision resources tools about read more about website revamp […] posted in other leave a comment what is social ontology and why should economists care? posted on 18/05/2018 by rhys williams literally, social ontology is the study of social nature and it concerns itself with “how existents exist”1. it is the study of the social realm which includes the “domain of all phenomena, existents, properties”2 whose existence depends upon humans and their interactions. to paraphrase little “almost all human action is social: socially oriented, socially embedded or socially read more about what is social ontology and why should economists care? […] posted in other tagged csog , deductivism , dr lawson , lawson , mainstream , mathematical modelling , neoclassicalism , ontology , social ontology , tony lawson leave a comment the relationship between debt and growth posted on 20/01/2018 by rhys williams the debt-growth nexus has received renewed interest among academics and policy makers alike in the aftermath of the recent global financial crisis and the subsequent euro area sovereign debt crisis. discuss whether there exists a tipping point, for public indebtedness, beyond which economic growth drops off significantly; and more generally, whether a build-up of public read more about the relationship between debt and growth […] posted in macroeconomics tagged austerity , crowding out , debt , debt trajectory , government , mohaddes , reinhart , reinhart and rogoff leave a comment investment functions posted on 09/12/2017 by rhys williams in this article we explain the fundamental factors determining investment decisions of firms, which comprise the investment function. by determining the structure of the investment function we can hypothetically estimate this and thus predict how much a given firm ought to be investing, given economic fundamentals. this is interesting because we could then aggregate such read more about investment functions […] posted in microeconomics tagged investment , investment functions , neoclassical model , profits leave a comment gdp data revisions posted on 15/08/2017 15/08/2017 by rhys williams the importance of accurate gdp data is often understated and there is a need to document carefully the extent of revisions to statistics on economic activity and evaluate how this affects macroeconomic policy as well as examine ways to improve statistical methods. the office for national statistics (ons) has a trade-off between providing estimates on read more about gdp data revisions […] posted in macroeconomics tagged data , gdp , gdp revisions , office for national statistics , ons , revisions leave a comment why has wage inequality risen? posted on 09/08/2017 09/08/2017 by rhys williams wage inequality has increased in many economies in recent decades. discuss the three leading hypotheses regarding the causes of this increase. what does the empirical evidence tell us about the quantitative importance of each of these factors? the us economy has almost double since the 1970s, and labour productivity has risen over this period. yet real wages for read more about why has wage inequality risen? […] posted in macroeconomics , other tagged globalisation , inequality , sbtc , trade , trade theory , wage inequality , wages leave a comment the colonial origins of comparative development: a summary posted on 08/07/2017 by rhys williams acemoglu, johnson and robinson (ajr) attempt to measure the effects of institutions on income differences by introducing an exogenous source of variation in institutions to measure their differing outcomes. they begin by pointing out that the history of colonisation resulted in different institutions being formed: some countries received extractive institutions (whereby the coloniser would simply read more about the colonial origins of comparative development: a summary […] posted in macroeconomics tagged acemoglu , acemoglu robinson and johnson , colonial , colonies , development , growth , institutions , instruments , johnson , robinson , settlers leave a comment economic growth: where does it come from? posted on 10/06/2017 by rhys williams one of the fundamental questions of economics is why are some countries rich and others poor? why do some countries experience heavy growth which allows them to catch-up with the economic giants of the world, whilst others are relegated to the bottom and are unable to jump on the growth train? is it due to read more about economic growth: where does it come from? […] posted in macroeconomics tagged ak model , economic growth , endogenous growth , growth , solow , solow growth model , solow model leave a comment did small scale firms inhibit victorian growth? posted on 04/03/2017 09/08/2017 by rhys williams britain’s manufacturing firms have been accused of remaining family-run and small scale in the period 1850-1914, so ignoring the benefits of the large corporation evident in the usa. discuss whether this represents a form of entrepreneurial failure by the owners of british firms. chandler identifies that corporation’s in america are vertically and horizontally integrated, invested read more about did small scale firms inhibit victorian growth? […] posted in macroeconomics , other tagged cambridge economic tripos , chandler , firm size , history , paper 5 , victorian failure leave a comment marshallian industrial districts and the rise of the internet posted on 04/01/2017 by rhys williams recently i attended a conference for the 40th anniversary of the cambridge journal of economics where a talk was given on “industrial districts, organisation & policy”. this article is a summary of some of the discussion from this talk as well as my further thoughts on extending marshallian industrial districts to incorporate the internet. what read more about marshallian industrial districts and the rise of the internet […] posted in microeconomics tagged industrial district , internet , marshall , marshall industrial distriction , marshallian externality , mid , oligopoly , veblen , veblen good leave a comment posts navigation ← older posts search for: recent posts what is social ontology and why should economists care? website revamp the relationship between debt and growth investment functions gdp data revisions recent comments rys on why does the nhs continue to look after old people? rhys williams on tax avoidance rhys williams on site still going! norman j penny on site still going! rhys williams on are large or small companies more successful? archives may 2018 march 2018 january 2018 december 2017 august 2017 july 2017 june 2017 march 2017 january 2017 december 2016 november 2016 october 2016 september 2016 august 2016 july 2016 june 2016 march 2016 january 2016 december 2015 november 2015 october 2015 september 2015 august 2015 july 2015 april 2015 march 2015 december 2014 july 2014 may 2014 april 2014 march 2014 february 2014 december 2013 november 2013 october 2013 september 2013 august 2013 july 2013 may 2013 april 2013 march 2013 february 2013 january 2013 december 2012 november 2012 categories everyday economics macroeconomics microeconomics other tags behavioural economics big mac index cambridge cambridge economics tripos case study collusion competition costs currency debt deficit development employment essay financial crisis gdp government history industrial revolution inflation investment keynes keynesian labour neoclassical oligopoly open university oxbridge paper 4 paper 5 politics price discrimination qe questio

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