Leaving Cert Economics: Ireland’s Economy
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092: Graham Brownlow on Rent Seeking, Cliometrics and the Economics of the DeLorean
092: Graham Brownlow on Rent Seeking, Cliometrics and the Economics of the DeLorean
Dr. Graham Brownlow (PhD, QUB) is a Lecturer in Economics at Queen’s University in Belfast, Northern Ireland.
Dr. Brownlow’s research focuses primarily on economic history and institutions, evolutionary economics, Irish economic and business performance and violence. He also has an interest in methodology in economic and business history.
Graham edits the journal Irish Economic and Social History.
I’m very eclectic and pragmatic – Dr. Graham Brownlow
Economics:
In this episode, Graham mentions: rent seeking, cliometrics, inefficiency, corruption, institutions, subsidies, Brexit, monopolies, sharing economy, fast money, game theory, bargaining, public choice, regional economics and economic history.
Economists:
In this episode, Graham mentions: Peter Boettke, Peter Leeson, Gary Becker, William Baumal, Douglass North, Robert Hamilton, Eli Hecksher, Adam Smith, John Maynard Keynes, Joseph Schumpeter, Friedrich Hayek, Milton Friedman, George Duncan, Tim Harford, Steven Landsburg and G. L. S. Shackle.
Using Analytic Narratives in Economic Research
Looking to balance the details of fact and yet keep the rigour of an economic model – Graham Brownlow
- Identify the problem or puzzle.
- Immerse yourself in the topic or resources.
- Move to more formal aspects.
- Don’t start with the model and then use it to explain your findings.
- You actually first look at the historical issue under investigation and then apply it to the model.
Links:
Research by Dr. Graham Brownlow:
- Back to the Failure: An Analytic Narrative of the De Lorean Debacle (2015).
- Soft Budget Constraints and Regional Industrial Policy: Reinterpreting the Rise and Fall of De Lorean (2015).
- ‘Review of Cullen Economy, Trade and Irish Merchants at Home and Abroad, 1600-1988’ (2013).
- How do we Ensure a Useful Future for Irish Cliometrics? (2012).
- A complete list of Graham’s research can be found here.
Where to Find Graham:
Books:
- The Undercover Economist by Tim Harford
- The Undercover Economist Strikes Back: How to Run – or Ruin – an Economy by Tim Harford
- The Undercover Economist, Revised and Updated Edition: Exposing Why the Rich Are Rich, the Poor Are Poor – and Why You Can Never Buy a Decent Used Car! by Tim Harford
- The Logic of Life: The Rational Economics of an Irrational World by Tim Harford
- Adapt: Why Success Always Starts with Failure by Tim Harford
- Messy: The Power of Disorder to Transform Our Lives by Tim Harford
- The Armchair Economist: Economics and Everyday Life by Steven Landsburg
- Economics for Pleasure by G. L. S. Shackle
- The New Geography of Jobs by Enrico Moretti
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083: Stephen Kinsella on Stock Flow Models, Rent Controls and Being the Green Lantern of Economics
083: Stephen Kinsella on Stock Flow Models, Rent Controls and Being the Green Lantern of Economics
Stephen Kinsella is a Senior Lecturer in Economics at the Kemmy Business School, the University of 
Limerick in Ireland and a Research Fellow at the Geary Institute at University College Dublin. He is currently visiting Professor of Economics at Université Paris.
Stephen has two PhD’s, is well published in many Economics Journals and has won several grants worth around 1.5 million Euro.
Stephen’s area of expertise is in the study of the Irish and European economies.
He has written 4 books:
- Ireland in 2050: How we will be Living
- Understanding Ireland’s Economic Crisis: Prospects for Recovery
- QuickWin Economics and
- Computable Economics.
Stephen is a weekly columnist for the Sunday Business Post newspaper and he also has his own website stephenkinsella.net which is amazingly rich in content, covering issues on the Irish and European economy as well as material he covers in his lectures.
Economics:
In this episode, Stephen mentions: stock flow consistent models, rent controls, GDP, wealth, consumption, government expenditure, investment, net exports, debt-to-GDP, stock of unemployed-to-flow of the labor force, taxes, austerity, QE, pro-cyclical policy, unemployment, automatic stabilizers, Brexit, foreign direct investment, hyperinflation, purchasing power of money, housing, pricing mechanism and money supply.
Economists:
In this episode, Stephen mentions: Wynne Godley, Lance Taylor, Marc Lavoie, Kevin O’Rourke, Philip Lane, Dermot McAleese, Edward Nell, Carmen M. Reinhart, Kenneth S. Rogoff and Joseph Stiglitz.
In this episode you will learn:
- how and why Stephen completed two PhD’s and how he completed his first within 12 months.
- about stock flow consistent models.
- about the features of a stock flow model.
- why the Irish government bailed out the banks.
- how Ireland received ‘help’ from international economies, particularly the US and the UK, to quickly move out of a recession since the Great Financial Crisis.
- whether Ireland will suffer if the UK left the EU in the so-called Brexit.
- how rent controls lead to an inefficient market outcome.
Links:
Papers:
- Stephen Kinsella (2001). Hedgehog Logic – the Problems of Econometrics Today. Student Economic Review.
- Stephen Kinsella (2007). Logarithms: A Tutorial.
Books:
- QuickWin Economics-Answers to Your Top 100 Economics Questions by Stephen Kinsella
- Ireland in 2050: How we will be Living by Stephen Kinsella
- Understanding Ireland’s Economic Crisis: Prospects for Recovery by Stephen Kinsella
- Monetary Economics An Integrated Approach to Credit, Money, Income, Production and Wealth by Wynne Godley and Marc Lavoie
- Swimming with Sharks: My Journey into the World of the Bankers by Joris Luyendijk
- This Time Is Different: Eight Centuries of Financial Folly by Carmen M. Reinhart and Kenneth S. Rogoff
- Seeing Like a State: How Certain Schemes to Improve the Human Condition Have Failed by James Scott
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