Practical Economics to Build a Flourishing World

Articles
The Nation: PwC Report on Nigerian Economic Recovery

The Nation: PwC Report on Nigerian Economic Recovery

Andrew was recently quoted on The Nation Online with respect to a PwC report on the Nigerian economic recovery: “In a report made available to The Nation, PwC experts led by Partner & Chief Economist,  Dr. Andrew S Nevin, said that besides the improvement in real GDP, the performance in other macro-indicators suggest that the economy...
Categories of Economic Thinking

Categories of Economic Thinking

“One must be prepared to be enlightened about oneself…and to act upon this enlightenment.” – Nevin, 1989 Nevinomics’ objective is meaningfully to increase our practical ability to build a society and economy that allows individuals to Flourish. But how to do this is not immediately obvious. If nothing else, the Great Financial Crisis, the subsequent...
Let's Eliminate Corporate Taxes!

Let’s Eliminate Corporate Taxes!

“Multinational corporations act and therefore should be taxed as single and unified firms. It is time for our leaders to be bold.” – Joseph Stiglitz Sitglitz says that the international tax system is broken.1)See Joseph Stiglitz quoted on CNN Money, June 2, 2015. Accessed September 20, 2015. And this is certainly true. Large corporations are massive...
Social Limits to Growth – in Memory of Fred Hirsch I: Positional Goods

Social Limits to Growth – in Memory of Fred Hirsch I: Positional Goods

“There is lots that is new and good in this draft thesis… unfortunately, what is good isn’t new and what is new isn’t good …”     – Professor Stephen Marglin commenting on a draft of Andrew S. Nevin’s PhD thesis And some things that should not have been forgotten were lost. History became legend....
GAI: Guaranteed Annual Income

GAI: Guaranteed Annual Income

Poverty is fundamentally about a lack of cash. It’s not about stupidity. Erin Anderssen, Globe and Mail This is an idea – as the article says – that was debated in Canada in the 1970s. In fact, I remember the discussion from my childhood. But the oil crisis, stagflation, and general pessimism meant that by...
Our Malleable Preferences: Part 2

Our Malleable Preferences: Part 2

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. – Adam Smith The famous quotation from Adam Smith illustrates what is the defining feature of modern economics – the idea that economic exchanges lead to everyone’s being...
The Labour Market: The Greatest Market Failure Ever (Part 3)

The Labour Market: The Greatest Market Failure Ever (Part 3)

The excitement of vitamins, nutrition and metabolism permeated the environment.  – Paul D. Boyer In The Labour Market 2, I promised an explanation of the connection between employment and economic (and individual) Flourishing. The simplistic answer from economic orthodoxy is that by freeing up labour markets, we could solve this problem. But this view cannot...
The Rise of the Tournament Effect

The Rise of the Tournament Effect

“All my movies end this way, baby.”  – Austin Powers, International Man of Mystery (original ending) If you ask a non-Canadian (or even many Canadians) what is Canada’s national sport, they will tell you ice hockey. We are one of the few countries in which the number one sport is not football (soccer), and although...
The Labour Market: The Greatest Market Failure Part 2: NEET

The Labour Market: The Greatest Market Failure Part 2: NEET

“When a great many people are unable to find work, unemployment results.” -Calvin Coolidge In the article, The Greatest Market Failure Ever: Part 1, Nevinomics examined how well the labour market functions from the perspective of the individual trying to build a satisfying life over the long term – trying to Flourish, in Nevinomics’ language....
You Can't Get There From Here

You Can’t Get There From Here

We wanted flying cars. Instead we got 140 characters. – Peter Thiel, Founder of Paypal The Tokyo Metro is a marvel of efficiency and practicality: beautifully clean and well-designed with excellent people flow. There are well-marked exits for the entire area around each station and, remarkably to a Westerner, there are clean and modern comfort...
Do Interest Rates Matter?

Do Interest Rates Matter?

In fact, investment often rises when interest rates go up and volatility increases. – from The Economist Economics is actually starting to Flourish. The GFC has caused a rethink of some of the fundamental assumptions, and young economists are challenging the orthodoxy with empirical studies (the Nevinomics ‘s 1st principle is that Economics is an...
The Max-a-median Principle, With Apologies to Rawls

The Max-a-median Principle, With Apologies to Rawls

It may be expedient but it is not just that some should have less in order that others may prosper. – John Rawls Through the evolutionary process, those who are able to engage in social cooperation of various sorts do better in survival and reproduction. – Robert Nozick When I was at Oxford studying Philosophy...
The Flywheel Effect - or why Russia's big bang was a disaster

The Flywheel Effect – or why Russia’s big bang was a disaster

“ ‘Well, Dr Sacks,’ he said to me. ‘You find me an interesting case, I perceive. Can you tell me what you find wrong, make recommendations?’ ‘I can’t tell you what I find wrong,’ I replied, ‘but I’ll say what I find right…’ ” –  Oliver Sacks   How can we understand the brain, the most...