When it comes to urban economic development, everything is a question of tradeoffs. There are, as economists like to say, "no free lunches." Consider California. The astronomical wages paid by firms like Google, Apple and other digital firms draw thousands of people to the Silicon Valley/San Francisco area, and the high wages of the Hollywood studios lure people to Los … [Read more...] about Who Benefits from Job Creation in Cities?
When Anti-Crime Strategies Reflect Ignorance Rather than Knowledge
When it comes to crime, we are easily swayed by false perceptions and information. We lose our wallet to a pickpocket or hear about a mugging in our generally safe neighborhood and immediately assume that we are in the midst of a crime epidemic. We are pushed to anxiety by politicians who peddle exaggerated homicide statistics to prove they are tough on crime; by the … [Read more...] about When Anti-Crime Strategies Reflect Ignorance Rather than Knowledge
Cash Transfer Programs: Challenging the Welfare Myth
Do welfare programs create dependency? For decades, that question has roiled the United States where supporters call such programs an essential lifeline for the poor and critics condemn them as encouraging laziness and the welfare trap. Latin America and the Caribbean is no stranger to the debate, especially as it concerns conditional cash transfer (CCT) programs. Those … [Read more...] about Cash Transfer Programs: Challenging the Welfare Myth
What Can Andre Agassi Teach Us About Socio-Emotional Skills?
When tennis great Andre Agassi flamed out at age 26 dropping from No. 1 in the world to a humiliating No. 141 two years later, commentators attacked his vanity, emotional instability and erratic behavior. Agassi had triumphed in three of tennis's four great tournaments. How could he descend to such lows, where he would deliberately lose an important match, bad-mouth other … [Read more...] about What Can Andre Agassi Teach Us About Socio-Emotional Skills?
Cass Sunstein on Misconceptions, Biases and How Latin America Can Harness Behavioral Economics
Cass Sunstein is a Harvard law professor, a former administrator of the White House Office of Information and Regulatory Affairs, and one of the most prolific and admired legal scholars in the United States. He is also a leading light in the field of behavioral economics whose 2008 pioneering book Nudge, co-written with Nobel Prize laureate Richard Thaler, describes the many … [Read more...] about Cass Sunstein on Misconceptions, Biases and How Latin America Can Harness Behavioral Economics