Quantum computing is finally having something of a moment
An increasing number of breakthroughs are taking place in the world of quantum computing, all of which will have fascinating repercussions.
The ascent of behavioural economics
Behavioural economics has come a long way over the last half-century, winning mainstream approval. But is its future as bright?
A financial philosopher’s stone
Alchemy may no longer be taken seriously in scientific circles, but its influence on the finance sector is evident to this day
The path of least resistance – understanding the important role friction plays in finance
Like earthquakes, financial crises often involve a breakdown in friction. Economists are only just getting to grips with this fact
A brief history of the international gold standard
Money is often considered to be a type of magic, but what kind of alchemy gives currency its value? The gold standard could hold the answers
The gentlemen’s club
Men have long dominated economics, with women finding it difficult to successfully break into the profession. However, with the prevalent impact of the #MeToo movement, more are recognising the need for greater equality
Money’s killer application
Money was invented to represent goods that were for sale, but it became an indispensable part of society once coins started being used to motivate soldiers and control the public. Understanding money’s historic power helps us create better economic models
Why we missed the storm
In November 2008, Queen Elizabeth II asked why no one saw the financial crisis coming. In the years following, many economists have attempted to answer her question, but few have come up with more than mere excuses
A tale of two workshops
Left underwhelmed by mainstream economics’ attempts to revolutionise the field, David Orrell found a more radical way of thinking among quantum physicists. Could quantum thinking provide the upheaval economics needs?
The insignificance of significance
In economics, statistical significance is often conflated with relevance, leading researchers to push data to fit with their theory. A Bayesian approach, instead, expects theories to evolve as data is collected. While this leads to less newsworthy findings, it is restoring statistics’ legitimacy
The opacity of economics has attributed a quasi-magical quality to the interpreters and doyens of the financial sector. But does the failure to predict or prevent financial crises demonstrate that these powers are fallacious?
The magic touch
Toronto is growing at its slowest rate in almost half a century, and yet house prices have increased by a third in the past year alone. The reason for this continual rise is a market-wide magic trick
With economists taking a reductionist approach to economics, another financial crisis is inevitable. They must learn from the mistakes of weather forecasters and changing their predictive models
Succeeding in economics
Many economics students are experiencing a disconnect between the content of their courses and the events taking place in the real world. Giving them the opportunity to learn about more than mere mathematics could be the solution
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