People In London Tried To Label The 50 US States On A Map. These Are The Hilarious Results.
This map is rather sparse:

I liked how Boardwalk Empire and Breaking Bad were given as state names on this one.

“WTF are these ones so small?”

People In London Tried To Label The 50 US States On A Map. These Are The Hilarious Results.
This map is rather sparse:

I liked how Boardwalk Empire and Breaking Bad were given as state names on this one.

“WTF are these ones so small?”

My employer, the University of Liverpool Management School has entered the Financial Times European Business Schools Ranking for the first time.
The ranking lists the top 80 business schools in Europe. London Business School is ranked top, followed by HEC Paris and Spain’s IE Business School.
Professor Michael McKenzie, Interim Director of the Management School, said: “We are absolutely delighted to have joined the elite rank of European business schools that make the Financial Times list.
“This is an outstanding achievement considering the school was only formed a little over a decade ago and is testimony to the hard work of our academic and professional services staff. We have set ourselves the goal of establishing the Management School as a provider of world-class business and management education and this achievement, along with our recent AACSB accreditation, clearly shows we are on the right path.
“We have a number of exciting initiatives coming to fruition in the School, including the launch of our executive education programmes at our London campus.”
This item originally appeared here.
AS: Despite its name, the new Cambridge Economic History of Australia contains some essays in Business History, as well as economic history research.
Introduction Simon Ville and Glenn Withers
Part I. Framework:
1. The historiography of Australian economic history William Coleman
2. Economic growth and its drivers since European settlement Jakob Madsen
3. Analytical frameworks of economic history Chris Lloyd
Part II. Transition:
4. The Aboriginal legacy Boyd Hunter
5. The convict economy Debbie Oxley and David Meredith
Part III. Economic Expansion of the Colonies:
6. Technological change Gary Magee
7. Industrialising Australia’s natural capital David Greasley
8. Labour, skills and migration Andrew Seltzer
9. Colonial enterprise Simon Ville
10. Infrastructure and colonial socialism Jonathan Pincus and Henry Ergas
11. Urbanisation Lionel Frost
Part IV. A National Economy:
12. Capital markets Rodney Maddock
13. Manufacturing Diane Hutchinson
14. Big business and foreign firms David Merrett
15. Government and the evolution of public policy John Wilson
16. The labour market Tim Hatton and Glenn Withers
17. The service economy Monica Keneley
Part V. Building the Modern Economy:
18. Reorientation of trade, investment, migration Richard Pomfret
19. Microeconomic reform Jeff Borland
20. The evolution of macroeconomic strategy Mike Keating
Part VI. Looking Backwards and to the Future:
21. A statistical narrative: Australia 1800–2010 Matthew Butlin, Robert Dixon and Peter Lloyd
22. Wealth and welfare Martin Shanahan
23. Property right regimes and their environmental impacts Edwyna Harris
24. Refiguring indigenous economies: a 21st century perspective John Altman and Nicholas Biddle
Appendix Matthew Butlin, Robert Dixon and Peter Lloyd.
The editors were Simon Ville, University of Wollongong, New South Wales and Glenn Withers, Australian National University, Canberra
My son was born in the UK four years ago. I’m a dual citizen of Canada and the UK, which means that I am able to pass Canadian nationality on to my son. Shortly after his birth, I registered my son as Canadian citizen with the Canadian High Commission in London. Registration is the first step toward applying for a Canadian passport, which is something that might be useful to him in adult life. My son has three nationalities, as his mother is the citizen of a third country, which happens to be a high-income society in East Asia.
Today, the certificate of registration as a Canadian citizen arrived by courier at our house. In contrast, the equivalent certificate from the East Asian government arrived within 10 working days of my son’s birth and he had the passport from that country by the time he was a few months old. Needless to say, my son’s application for his first British passport was very quick, although that’s not quite a fair comparison, as we were applying from within the country.
I could write a paper on cross-cultural management about this hilarious incident. I’m mainly surprised there weren’t donut crumbs on the certificate from the clerical worker in Canada. [I should explain that Tim Horton’s Donuts, which are rich in nourishing sugar and carbs, are Canada’s national food].
What is so appalling about this incident is that growing up in Canada I often heard white Canadians complaining that immigrants from South Asia and “the Islands” had “no sense of time”. I heard teachers remark that Black students were “on Jamaican time” and thus habitually late for class. That’s not a fair comparison since very poor countries can afford fewer timekeeping devices. Relative to people from other developed countries, Canadians are very time insensitive. For instance, they rank at the bottom of the developed world by such metrics as observed walking pace in financial districts. Canadian postal clerks are also slower at selling stamps than postal clerks in most other OECD countries, although they are faster than postal clerks performing the same task in impoverished tropical nations.
I see from the paperwork that my son’s citizenship application was processed in an office located in an economically-stagnant part of eastern Canada that has, unfortunately, been largely bypassed by the waves of immigration that have invigorated the urban centres of central and western Canada. Census data for the community in question suggests to me that the workers who processed the application were, unfortunately, native-born white Canadians.
It so happened that the certificate of Canadian nationality arrived when I was writing the notes for a lecture that discusses, among other things, attitudes towards time in emerging markets.
I’m not angry with the Canadian government, since their Third-World tardiness had no practical costs for my son. I am, however, somewhat amused and disappointed at the same time.
I’m sending a letter about this incident to Gordon Campbell, the Canadian High Commissioner. As an individual who was Mayor of Vancouver during a period of rapid economic growth and ethnic transition, he may be able to understand the cultural roots of this evidently dysfunctional bureaucracy.
Don’t get me wrong. Canada has many positive features. Efficiency aint one of them.
For more background reading, see
Levine, Robert V., and Ara Norenzayan. “The pace of life in 31 countries.”Journal of Cross-Cultural Psychology 30, no. 2 (1999): 178-205.
AS: Tonight, BBC Radio 4 will be broadcasting a documentary on the current state of economics teaching. You will able to listen to the podcast here.
At universities from Glasgow to Kolkata, economics students are fighting their tutors over how to teach the subject in the wake of the crash. The Guardian’s senior economics commentator, Aditya Chakrabortty, reports from the frontline of this most unusual and important academic war.
The banking crash plunged economies around the world into crisis – but it also created questions for economics itself. Even the Queen asked why hardly any economists saw the meltdown coming. Yet economics graduates still roll out of exam halls and off to government departments or the City with much the same toolkit that, just five years ago, produced a massive crash.
Now economics students around the world are demanding a radical change of course. In a manifesto signed by 65 university economics associations from over 30 different countries, students decry a ‘dramatic narrowing of the curriculum’ that they say prefers algebra to the real world and teaches them there’s only one way to run an economy.
As fights go, this one is desperately ill-matched – in one corner, young people fighting to change what they’re taught; in the other, the academics who’ve built careers researching and teaching the subject. Yet the outcome matters to all of us, as it is a battle over the ideas that underpin how we run our economies.
Aditya meets the students leading arguing for a rethink of economics. He also talks to major figures from the worlds of economics and finance, including George Soros, the Bank of England’s chief economist Andy Haldane, and Cambridge author Ha-Joon Chang.
Produced by Eve Streeter
A Greenpoint production for BBC Radio 4
We asked the programme’s contributors to recommend the economics books (or blogs) they have found especially influential.
Here is their suggested reading list:
Dr Ha-Joon Chang
• Herbert Simon: Reasons in Human Affairs (Stanford University Press 1983)
• Phyllis Deane: The State and the Economic System: An Introduction to the History of Political Economy (Opus 1989)
Rob Johnson
• Frank Knight: Risk Uncertainty and Profit (1921)
; On the History and Methods of Economics (1956)
• John Maynard Keynes: General Theory (1936); A Treatise on Probability (1921)
• Rajani Kanth: Breaking with the Enlightenment (NJ Humanities Press 1997)
• Stuart Ewen: PR!: The Social History of Spin (Basic Books 1998)
Professor Steve Keen
• Hyman Minsky: Can “It” Happen Again? (Routledge 1982)
• John Blatt: Dynamic Economic Systems (Routledge 1983)
• Karl Marx: Grundrisse (1939)
Professor Diane Coyle
• John McMillan: Reinventing the Bazaar – A Natural History of Markets (Norton 2003)
• Thomas Schelling: Micromotives and Macrobehaviour (Norton 1978)
Dr Victoria Bateman
• John Maynard Keynes: The General Theory of Employment, Interest and
Money (chapter 12)
• Avner Offer: The Challenge of Affluence (OUP 2006)
• Mariana Mazzucato: The Entrepreneurial State: Debunking Public vs Private Sector Myths (Anthem Press 2013)
Professor Wendy Carlin
• David Soskice and Peter Hall (ed): Varieties of Capitalism (OUP 2001)
• Paul Seabright: The Company of Strangers: a Natural History of Economic Life (PUP 2004)
Professor Philip Mirowski
nakedcapitalism.com or larspsyll.wordpress.com
Lord Robert Skidelsky
• Josh Ryan-Collins, Tony Greenham, Richard Werner and Andrew Jackson: Where Does Money Come From? A Guide to the UK Monetary and Banking System (New Economics Foundation 2014)
• Anat Admati and Martin Hellwig: The Bankers’ New Clothes: What’s Wrong with Banking and What to Do About It (Princeton University Press 2013)
• Erik Brynjolfsson and Andrew McAfee: The Second Machine Age: Work Progress, and Prosperity in a Time of Brilliant Technologies (WW Norton 2014)
Dr Devrim Yilmaz
• Karl Polanyi: The Great Transformation (1944)
Professor Danny Quah
• Edward Tufte: The Visual Display of Quantitative Information (Graphics Press 2001)
• Paul Kennedy: The Rise and Fall of the Great Powers: Economic Change and Military Conflict from 1500 to 2000 (Random House 1989)
• Jared Diamond: Guns, Germs, and Steel: A Short History of Everybody for the Last 13,000 Years (Vintage 1998)
Yuan Yang, Rethinking Economics
• Tony Lawson: Economics and Reality (Routledge 1997)
Joe Earle, Post-Crash Economics Society
• George Packer: The Unwinding (Faber 2014)
• Rod Hill and Tony Myatt: The Economics Anti-Textbook: A Critical Thinker’s Guide to Economics (Zed 2010)
Remaking North American Sovereignty: Towards a Continental History of State Transformation in the Mid-Nineteenth Century
Date: July 30-August 1, 2015, at the Banff Centre in Banff, Alberta, Canada.
Description: This conference considers state making in mid-nineteenth century North America from a continent-wide perspective. Peaking in the years 1865-67 with the end of the American Civil War, Canadian Confederation, and the restoration of the Mexican republic after the expulsion of Maximilian, a French-imposed monarch, this era of political transformation has had profound consequences for the future of the continent.
Key to the reformulation of North American polities was the question of sovereignty, or the power to rule. Conflicts over sovereignty went well beyond the years 1865-67 and encompassed not only the political and diplomatic aspects of state making but also the broader social, economic, and cultural histories of this process.
Thus far, the continental dimensions of North American sovereignty have been obscured by historical traditions that confine each of these state-making conflicts within its specific national framework. In light of the global turn in 19th century historiography, as well as the real interconnections across the continent, it is time to consider these political crises as an inter-related struggle to redefine the relationship of North Americans to new governments.
Keynote addresses will be delivered by Professors Steven Hahn, University of Pennsylvania; Pekka Hämäläinen, Oxford University; Erika Pani, Colegio de Mexico; and Andrew Smith, University of Liverpool.
The Accounting History Review has published a Special Issue: Accounting and the First World War.
AS: That’s the title of a newly-published paper by Ian Keay.
Abstract:
This paper documents the channels through which commodity price volatility can affect resource intensive industries’ investment decisions, production levels and profitability. Over the very long run, the Canadian forestry sector was not immune from the negative effects of commodity price volatility. However, the long run averages mask dynamic and asymmetric patterns in the sector’s responses to price volatility. The supply of investment funds from formal-external sources was suppressed during episodes of high and rising commodity price volatility, but insensitive to low and falling volatility. These effects weakened as the economy matured. The accumulation of reproducible and natural capital was affected by commodity price volatility through an investment supply channel that was also asymmetric, but in this case, the effect was strongest during low and falling volatility. These results show how a maturing economy with diversified investment opportunities can become increasingly immune from the negative effects of commodity price volatility.

Ships Loading Timber in Quebec City in the 1860s
I’m involved in a SSHRC-funded collaborative project Empire, Trees, and Climate in the North Atlantic: Towards Critical Dendro-Provenancing. The PI is Kirsten Greer. More details of the project can be found here.
This is the abstract of the first working paper to come out of the project:
The Competitive Advantage of Port Cities: Strategies Used by the Liverpool Timber Cluster to Adjust to the Shift to Free Trade
Abstract:
During and after the Napoleonic Wars, British trade policy discouraged the importation of wood from the Baltic and encouraged imports from British colonies in North America. Between 1808 and 1842, Britain’s timber merchants developed thriving businesses based on trans-Atlantic supply chains. Some of Liverpool’s timber firms made substantial fixed investments in Canada and other British colonies. The pre-1842 system of discriminatory duties created an artificial cost structure that benefited timber merchants with ties to Canada, many of whom were in Liverpool, over timber merchants with ties to the Baltic, a group disproportionately located in Hull, Newcastle, and the other North Sea ports that faced towards the Baltic. In the 1830s, political pressure for the elimination of the discriminatory duties mounted. The initial strategy adopted by the Liverpool timber-processing cluster was to intensify their political pressure for the retention of the differential duties. The drift of political events, however, forced a shift in strategy. Starting with Sir Robert Peel’s budget in 1842, Britain’s tariff regime began to move in the direction of Free Trade in timber: in the following years, the tariff system’s preference for colonial over Baltic timber was gradually eliminated. At the same time, the development of Britain’s railway network intensified competition among British ports to serve timber consumers in the interior of the country. Liverpool’s timber merchants thus faced a number of strategic threats in the 1850s and 1860s. In response to these challenges, Liverpool’s timber-importing cluster developed a multi-facetted strategy that had four main elements: diversification away from British North America as a source of timber; investments in substantial port infrastructure to reduce the costs of unloading timber; the application of pressure on railway and canals to give Liverpool timber forwarders favourable rates for inland carriage; investments in systems for creating and disseminating commercially-relevant environmental knowledge. These strategies helped the cluster to preserve its competitive advantage. The paper engages with three bodies of theory. First, it draws on the strategic management and economic-geographical literature on the competitive advantages of regional clusters. Second, it applies Chia and Holt’s insights into the benefits of strategy-without-design to the historical experience of an industrial cluster. Third, this paper advances our understanding of how regional clusters can respond to the dramatic shifts in the policy environment associated with economic liberalisation. It is hoped that this paper can shed light on the challenges present-day clusters face in acquiring and maintaining competitive advantages in the face of intensifying competition and globalisation.