Ideas tagged with economic development

Index of the Value of Labor over Capital (LoCI)

I present a simple index to gauge the relative valuation of labor over capital in a country (LoCI). This index should correlate positively with the wealth and HDI of the country, and negatively with the precariousness of life of basic service providers at the bottom of the pyramid in that countr...

By Michael Araki

A Comparative Historical Political Economy Approach to Tariffs and Economic Development

In his influential book, Kicking Away the Ladder (2002), Ha-Joon Chang explains that developed nations like the US used protectionist policies like high tariffs to develop. This argument is in direct contrast to the view that laissez-faire policies were key. Chang argues that developed countries...

By Joshua Hall