Well, the world's GDP is roughly 220 trillion USD in real (PPP) terms, which means that the expected nominal GDP of the world is about 140 trillion (considering that the US's price level was about 50-60% higher than the world's average over the past 40 years). Acemoglu

In Brazil some have defined West-East based on the idea that the "Western world" is a notion that comes from the division of the Roman Empire into western and eastern empires. The original "Eastern World" was a broad area of the Eastern Roman provinces associated with the

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One model for the evolution of the hierarchy in the economics profession is the "prestige black hole": Prestige in economics has become a function of oral networking, where this oral networking acts like gravity by becoming stronger and stronger as networks become denser. That

One thing about business cycle macroeconomics is that, in recent decades, each recession has been different from the previous one, thus requiring a different kind of model to explain. 1) The COVID recession is an obvious case of a negative exogenous shock. 2) Brazil experienced

Not sure if this "actual individual consumption" statistic makes material sense. It basically tracks GDP (PPP) per capita, but the US has a higher proportion in individual consumption because government consumption is smaller, plus net imports. However, if you look at Canada and

Contracting PhD programs would attract only the passionate ones, or would an even higher salary premium of the PhD, thanks to even lower supply of the title, further increase the proportion of careerists?

I would think the food one grew up with strongly influences their food tastes, which explains the general tendency of people to find the food from their local region to be better than it appears to foreigners. This is particularly true of certain countries that are not

I guess these are problems related to social values that evolved for humans to deal with problems at the individual/tribal scale that do not function when confronted with macro social problems. Low fertility is one such issue and is certainly a major global problem thats very