Alberto Bianchi’s Post

My article titled "Reflections on Daniel Kahneman's Enduring Legacy of Insights", published in the Economic and Political Weekly. The full article can be accessed here: https://lnkd.in/gwWsN2qN #DanielKahneman #behavioraleconomics #prospecttheory #rationalchoice, #cognitivebiases #twosystemsthinking #EPW

🚀 After four years of data collection and a three and a half years of review, the paper co-authored with Michelle D'Arcy and Ola Olsson is out in Journal of Political Economy. Our journey from conception to publication has been a labor of love, fuelled by passion, perseverance, and the power of collaboration. Our work focuses on cadasters -- public records of land ownership that facilitate clear assignment of property rights and land demarcation, thereby reducing transaction costs for economic agents and strengthening the state’s capacity to tax. Using a novel dataset on the emergence and development of state-administered cadasters in 159 countries over the last millennium, we analyze empirically the association between the development of cadastral institutions and long-run economic growth. 👉 Dive into the pages of the Journal of Political Economy to find out more https://lnkd.in/djAF6rVE

I’m delighted to share that the special issue Advancing the Commonsverse: The Political Economy of the Commons is now available open access in the International Journal of the Commons. The special issue brings together a strong and coherent collection of articles about the relationship between commons, the state, and the economy. The articles explore the possibilities and constraints of the commons and the process of commoning as they unfold in real-world political-economic settings. The common conceptual thread is the innovative work of David Bollier and Silke Helfrich on the commons, which offers fundamental guidance on how to reimagine and transform the socio-ethical foundations of our society and economy, the relationship between civil associations and the state, and the nature of the state. The special issue frames the complex relationship between the commons and the state. as one of mutual dependency and argues for the careful redesign of our institutions of public administration and democratic governance to make them more receptive and accessible to the creative powers of the commons. Many thanks to Hendrik Wagenaar for co-editing the special issue with me and to Catherine Durose, Liz Richardson, Matt Ryan, Dr Jess Steele, OBE, Sonia Bussu (PhD), Marina Pera, Manuela Zechner, Roy Heidelberg, Antonio Vesco, Sandro Busso, and David Bollier for their fantastic contributions. https://lnkd.in/dCGSymez

Have you considered the intersection of philosophy and finance? My friend Dan Solin explores this theme (among many) in his upcoming book 𝘞𝘦𝘢𝘭𝘵𝘩𝘪𝘦𝘳: 𝘛𝘩𝘦 𝘐𝘯𝘷𝘦𝘴𝘵𝘪𝘯𝘨 𝘍𝘪𝘦𝘭𝘥 𝘎𝘶𝘪𝘥𝘦 𝘧𝘰𝘳 𝘔𝘪𝘭𝘭𝘦𝘯𝘯𝘪𝘢𝘭𝘴 coming out May 15. Specifically, how embracing Stoic principles can help improve your investment experience. I had the opportunity to delve into the intersection of the humanities and finance at the Charlotte Ideas Festival on April 9th, alongside Marcia Dawood, Torrey F., and Ashley D. Varnado - three impact-makers and game-changers in the world of finance. Our panel discussed a broad range of topics, from the critical need for enhanced financial education and empowerment to the early financial lessons we carry into adulthood, and the significance of mindfulness in legacy planning. One of the most thought-provoking questions we addressed was whether money can serve as a form of poetry. I contend that while primarily a tool, money indeed has the capability to profoundly enrich our lives and those of others. As professionals, let's leverage our understanding of finance to construct not only wealth but meaningful, lasting legacies. I invite you to share: What legacy are you aiming to build with your financial decisions? And do you see money as a poetic element in our lives? #financialguidance #financialadvice #financialempowerment

Economic Philosophy Series: What the State is Not In today’s post, I explore an idea from Murry Rothbard's Anatomy of the State—a powerful blend of economic and political philosophy. In his book, Rothbard challenges the commonly held notion that “we are the government,” arguing that the actions of the state—even a democratically elected one—should not be viewed as voluntary on the part of all individuals. In my opinion, understanding that the state is not the same as its people is the same as acknowledging that a corporation is not the same as its shareholders. But, recognizing this distinction opens us to evaluate a special branch of principal-agent issues that arise when we observe government action. To illustrate this, Rothbard presents a striking example. He argues that if "we are the government," then, by extension, Jews murdered by the Nazi regime must have "committed suicide," since they were part of a democratically elected government and, therefore, anything the government did to them was voluntary on their part. This is a morally troubling example, but it underscores Rothbard’s central point regarding the state's monopoly to use force within a given territory. In no other principal-agent relationship does the agent (in this case, the government) have the power to exert violence over the principal (the people). This understanding raises essential questions about how societies empower their governments to use force, and the rules that must be in place—such as constitutional protections—to safeguard society from potential state overreach. More on these issues in subsequent posts! I’d love to hear your thoughts and perspectives in the comments! ------------ #EconomicPhilosophy #PoliticalPhilosophy #PublicChoiceTheory #StateAndSociety ------------ You can get the PDF for this book from: the Mises Institute of Economics or the Mises Institute Image from Encyclopaedia Britannica, Inc.: Adolf Hitler saluting German Troops at Warsaw Poland in 1939

New in Publius: The Journal of Federalism: Mikhail Filippov reviews Robert P. Inman and Daniel Rubinfeld's new book, Democratic Federalism. The book "provides a well-written analysis of the state of the art in economists’ understanding of the connections between economic decentralization, federalism, and political competition. To make their case, the authors employ both sophisticated economic tools and clear, intuitive explanations to make their case accessible to scholars across disciplines." Read the whole review here: https://lnkd.in/gS2jkjpJ

It is one thing to write a book, but a wholly different thing to have it reviewed. Thanks to Stijn for this excellent review of three recent books (including mine) on populism, the far right, and European integration.

📢 For the RoundUp this month, we've been in conversation Christian Krekel of The London School of Economics and Political Science (LSE)'s Centre for Economic Performance, about their "Wellbeing Value For Money" initiative. Their work assesses UK government policies against how they improve people’s well-being, to explore alternative ways of defining what is value for money. Read all about their new report, plus plenty more updates from the new economy field, in our monthly newsletter (link in comments)

I recently had a chance to read a series of essays on “Capitalism” and its relations with Nationalism, inequality and democracy, written by Jerry Z. Muller, which I found insightful and engaging to read. 💡 The essay have been reprinted in Journal of Applied Corporate Finance. Here are the links to the essays: Nationalism and Capitalism https://lnkd.in/gQFxuwCx Capitalism and inequality; What the right and the left got wrong https://lnkd.in/gJCqnZWD The threat of democracy to capitalism https://lnkd.in/gwrPTM5T

As we reminisce #budgets and appointments that could’ve been and anxiously anticipate #elections and policies that might be…I revisit the importance of social institutions and lateral thinking in our latest monthly. Dare I say, a linear extrapolation of current trends ends in #tragedy. As technology and cultures evolve, so should politics and policies. Alas…whilst the opportunities stare us straight in the eyes…they are rarely options given to the electorate. Please read and let me know your thoughts...its only 1 page! ;-) #capitalpreservation #investmentmanagement #leifbridge #shardcapital