11 votes

What was economics like as a field before Adam Smith, the father of *modern* economics?

There exists the... "Adam Smith of the Arabs": Ibn Khaldun. He lived during the 14th century. The work of his that focuses on Economics is Muqaddimah translated in English in 1958 as "The Muqaddimah: ...
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10 votes
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What was economics like as a field before Adam Smith, the father of *modern* economics?

Direct predecessors to Adam Smith within the classical tradition (maybe a more useful distinction than modern) include Hume, Locke and Dudley North. Before the classical economists, there were the ...
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  • 1,996
8 votes

Why some countries are wealthier than others?

One argument brought forward (it is a generalization/argument for lack of infrastructures) is the Acemoglu-Robinson hypothesis of extractive versus inclusive institutions. Long-story short: some ...
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  • 10.4k
6 votes
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Lessons From Successfully small island economies

I like this question, in the sense that although it is broad, I think it can be answered concisely and factually. Singapore and China (from your previous question) are largely authoritarian countries....
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  • 558
4 votes
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Papers on measuring institutions

"Institutions" can be defined in many ways... I will guess some things that might interest you: Transparency international measures every year corruption perceptions in many countries. The World ...
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  • 987
4 votes

Papers on measuring institutions

Daron Acemoglu's papers on institution could be a very good way to enter in this kind of issues.
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4 votes

Will China's GDP be greater than the USA's and Europe's combined?

This depends on long-run economic and demographic trends that are very difficult to forecast. That said, the medium fertility scenario in the UN's 2012 World Population Prospects puts the population ...
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4 votes
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Will China's GDP be greater than the USA's and Europe's combined?

Of course this is is possible. China is a very large economy currently and it is likely quite a way away from reaching its production frontier. It has lots of room to grow. A lot can happen in 65 ...
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3 votes
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Research question formation

I want to know if it's valid to talk about the economic growth and development of a city instead of a country In principle there is nothing wrong with narrowing your research question down to ...
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  • 41.6k
3 votes
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What is the advantage and disadvantage of fiscal illusion policy in terms for the financial market?

Too long, didn't read: the market does not care. Colombia's Pension Reform: Fiscal and Macroeconomic Effects, by Klaus Schmidt-Hebbel, states black on white (p 22) that issuing explicit domestic ...
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  • 1,246
3 votes

What was economics like as a field before Adam Smith, the father of *modern* economics?

Legendary Indian diplomat of Mauryan era, Kautilya (or Chanakya or Vishnugupt), is Indian equivalent of Adam Smith. It is estimated that he wrote his classic book Arthshastra (literal meaning: ...
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  • 61
3 votes
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Why some countries are wealthier than others?

While a lack of infrastructure and public goods may explain poverty in a short-term perspective, it is widely considered that institutions are the key factor in the long term (how could infrastructure ...
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  • 6,693
3 votes

Papers on measuring institutions

Articles These papers discuss institutions as institutions were covered in the economic literature. Better to read them in a chronological order. Acemoglu, Daron, and Simon Johnson. “Unbundling ...
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3 votes
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What do we know about the causes of global income inequality?

I have to say I do not believe in simple all encompassing answers. The reasons behind the differences are probably complex and multitude, varying from country to country. Below are some answers that ...
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  • 26k
2 votes

Moral and economic development paradox?

Yes, there is some evidence that immoral behavior, as exemplified though political corruption, is bad for economic development. The body of literature is large and to the extent that I am familiar ...
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2 votes

Developmental studies and industrial policy for the highly developed countries - research trends?

There is a lot of newish research on the adverse consequences of Globalisation and more generally De-industrialization on low skilled workers in developed economies. A good place to start is Autor, ...
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  • 961
2 votes

Why are countries in the Gulf rich but lagging in technological innovation?

Update Resource Curse literature attempts to address the issues you are raising, take a look at here and here. Here is an interesting example of a technology transfer case. Original answer They do,...
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  • 1,950
1 vote

Can you classify EU countries into developing and industrialised, or are they all industrialised?

There is no strict widely accepted definition of developing and industrialized country. Hence you could in principle choose any indicator you can justify. However, HDI looks at number of non-economic ...
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  • 41.6k
1 vote

Characterizing goods by R&D costs

There is a term "non-rivalrous" which I think captures what you are asking about. Rivalrous goods are your Type B: if I have a fly swatter and give it to you then I no longer have it: if we ...
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1 vote

Why does HDI use log-transformed data for income index?

Decreasing returns to standard of living means that if you add a certain amount $\delta$ to the income of a low income person, then the increase in her standard of living is bigger than if you would ...
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  • 8,737
1 vote
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Is NIIP a good measure of a country economical development?

For common definitions of the word development the NIIP would be a very bad measure. The NIIP is a measure of net foreign debt. I don't see any clear first order link between foreign debt or assets ...
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  • 961
1 vote
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Which measures are there to evaluate a country economical development?

Your question brakes down into: - Alternatives to measure "economic development": there are several ways to interpret what development is, it can be social, intensity of money flows, or volume of "...
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  • 2,155
1 vote
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The Effects of Demonetisation

I am not an expert in biology but let me give you some intuition through it. For instance if you have some impurities in your blood. There are two ways to remove that impure blood from your body. 1)...
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1 vote

How a country is categorized as developed or developing?

The terms developed and developing are UNDP terms. Read the paper at the link below - it goes through the UNDP, World bank and IMF classifications and it's an IMF working paper so i'd class that as ...
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  • 111
1 vote

Why are countries in the Gulf rich but lagging in technological innovation?

There is a great deal to consider when discussing resource rich countries. Countries that rely on a single sector have less diverse economies, which can lead to a number of issues (especially if the ...
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  • 147
1 vote

What are some good books, explaining why the society and economy developed like it is through the history?

I recommend Jared Diamond's Guns, Germs and Steel, for this topic. I don't know what you mean by "the society." Diamond makes it clear that there are many different societies around the world, ...
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  • 1,200
1 vote
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Theories relevant to institutional quality and economic development

The following researchers have written a number of papers and books on this topic: Doran Acemoglu James Robinson You may want to read their papers for a good start.
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