TTIP: Profit Before People

By Max Cohen The most recent instalment in the phenomenon of globalisation is upon us. The proposed Transatlantic Trade and Investment Partnership (TTIP) is an unprecedented bi-lateral trade and investment agreement between the United States of America (US) and the European Union (EU). In tandem with similar bilateral trade deals proliferating between different regions and…

Not so Priceless

By Mayank Kapadia Natural resources are the fundamental pre-requisite for human survival. Water, food and oxygen are the basis of most multi-cellular life on earth. It is this enduring dependence, which has for centuries, led us to believe that nature is priceless. However, at some point in time, this collective and conventional wisdom became a symbol…

Keynes: The Paradox of Thrift

By James Moynan “The long run is a misleading guide to current affairs. In the long run we are all dead” John Maynard Keynes The paradox of thrift is an economic concept popularized by John Maynard Keynes in his controversial book the General Theory of Employment, Interest and Money published in 1936 during the latter…

Game Theory of Trust

By Anmol Srivats What is trust? A good game theory definition would be “Irrational co-ordination”, where players play strategies that maximise their combined payoffs that may not maximise their individual payoffs. That sounds a bit wordy, so let me offer an example. Suppose there are two farmers on an island. If they distrust each other,…

Hans, Wang and the Global Wage Gap

By Andrea Mariani Hans is a construction worker in Berlin who works 40 hours per week and earns a monthly salary of 2000€. Wang is Hans’s Chinese counterpart working in Shanghai; he is also a construction worker and works 40 hours per week. However, unlike Hans, his monthly income is just the equivalent of 400€. Why is…

Virgin Galactic Disaster

By Eric Maynard Since private spaceflight’s inauguration in 2001 with millionaire Dennis Tito’s $20 million flight on a Russian Soyuz rocket, an industry of startups has flourished including Elon Musk’s Space X, Larry Page and Eric Schmidt’s Planetary Sciences, and Jeff Bezos’ Blue Origin. Private spaceflight passed another milestone in 2008 when Space X became the…

Suez Canal Expansion: Can Economic Prosperity Unify Egypt’s People?

By Michael Bates Almost 4 years ago Egypt was in chaos: mass protests, riots, and eventually a full scale military coup, brought about one of the largest revolutions of the ‘Arab Spring.’ Three years on and the dust has begun to settle, with the country seemingly under the stable leadership of Abdel Fattah al-Sisi. Growth…

Foreign Direct Investment in India: Vehicle for Growth or Inequality?

By Julian Valladares Central America is a fascinating yet ignored sub-continent of the world.  For the sake of raising awareness of the region’s existence, governments of countries such as Honduras and El Salvador undertake the comical, if perhaps tragic practice of depicting a labelled map of Central America on their passports.  But what is Central…

Dubai: Back to Its Lofty Heights?

By: Natasha Franks In 2007, the Dubai property market was booming like no other. At auctions in the city, houses were sold within seconds of the launch, and the same flat sold again at a 10-15% profit a few minutes later. The hype was like nothing before. A huge influx of foreign direct investment and the…