G.R.R. Martin’s fictional universe in A Game of Thrones evokes a number of economic phenomena found in many modern day economies. Specifically, the Seven Kingdoms (regions south of ‘The Wall’) is characterised by a dual economy, significant urban-rural wage differentials, widespread poverty and unemployment, underdeveloped infrastructure, low national savings, high debt, civil war and fiscal irresponsibility.
Collectively, these characteristics mirror many of the factors that constrain economic growth and productivity in contemporary developing economies.
Rethinking the Rationality paradigm…
Rationality is often assumed, yet far from perfect. The question remains, does rationality still have a place in modern economic thought? Hugh Oliver discusses.
This article first appeared in Short Supply 2016 – check out the full magazine via the Short Supply tab at the top of this page!