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Richard Layard
Peter Richard Grenville Layard, Baron Layard FBA (born 15 March 1934) is a British labour economist, currently working as programme director of the Centre for Economic Performance at the London School of Economics. Layard was Senior Research Officer for the Robbins Committee on Higher Education. His work on mental health, including publishing The Depression Report in 2006, led to the establishment of the Improving Access to Psychological Therapies (IAPT) programme in England. He is co-editor of the World Happiness Report, with John F. Helliwell and Jeffrey Sachs. Family and education Peter Richard Grenville Layard is the son of John Layard and his wife Doris. He was educated at Eton College, where he was a King's scholar; at King's College, Cambridge; and at the London School of Economics. Work Layard assisted Claus Moser on the Robbins enquiry, and later developed a reputation in the economics of education (with Mark Blaug at LSE), and labour economics (in particular wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Right Honourable
''The Right Honourable'' ( abbreviation: ''Rt Hon.'' or variations) is an honorific style traditionally applied to certain persons and collective bodies in the United Kingdom, the former British Empire and the Commonwealth of Nations. The term is predominantly used today as a style associated with the holding of certain senior public offices in the United Kingdom, Canada, New Zealand, and to a lesser extent, Australia. ''Right'' in this context is an adverb meaning 'very' or 'fully'. Grammatically, ''The Right Honourable'' is an adjectival phrase which gives information about a person. As such, it is not considered correct to apply it in direct address, nor to use it on its own as a title in place of a name; but rather it is used in the third person along with a name or noun to be modified. ''Right'' may be abbreviated to ''Rt'', and ''Honourable'' to ''Hon.'', or both. ''The'' is sometimes dropped in written abbreviated form, but is always pronounced. Countries with co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jeffrey Sachs
Jeffrey David Sachs () (born 5 November 1954) is an American economist, academic, public policy analyst, and former director of The Earth Institute at Columbia University, where he holds the title of University Professor. He is known for his work on sustainable development, economic development, and the fight to end poverty. Sachs is Director of the Center for Sustainable Development at Columbia University and President of the UN Sustainable Development Solutions Network. He is an SDG Advocate for United Nations (UN) Secretary-General António Guterres on the Sustainable Development Goals (SDGs), a set of 17 global goals adopted at a UN summit meeting in September 2015. From 2001 to 2018, Sachs served as Special Advisor to the UN Secretary General, and held the same position under the previous UN Secretary-General Ban Ki-moon and prior to 2016 a similar advisory position related to the earlier Millennium Development Goals (MDGs), [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rat Race
A rat race is an endless, self-defeating, or pointless pursuit. The phrase equates humans to rats attempting to earn a reward such as cheese, in vain. It may also refer to a competitive struggle to get ahead financially or routinely. The term is commonly associated with an exhausting, repetitive lifestyle that leaves no time for relaxation or enjoyment. Etymology The earliest known occurrence is 1934. In reference to aviation training a rat race was originally a " follow-the-leader" game in which a trainee fighter pilot had to copy all the actions (loops, rolls, spins, Immelmann turns etc.) performed by an experienced pilot. From 1945, the phrase took on the meaning of "competitive struggle." Historical usage *'' The Rat Race'' was used as a title for a novel written by Jay Franklin in 1947 for Colliers Magazine and first published in book form in 1950. It is dedicated ''To those few rats in Washington who do not carry brief-cases.'' *The term "rat race" was used in an article ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zero-sum Game
Zero-sum game is a mathematical representation in game theory and economic theory of a situation which involves two sides, where the result is an advantage for one side and an equivalent loss for the other. In other words, player one's gain is equivalent to player two's loss, therefore the net improvement in benefit of the game is zero. If the total gains of the participants are added up, and the total losses are subtracted, they will sum to zero. Thus, cutting a cake, where taking a more significant piece reduces the amount of cake available for others as much as it increases the amount available for that taker, is a zero-sum game if all participants value each unit of cake equally. Other examples of zero-sum games in daily life include games like poker, chess, and bridge where one person gains and another person loses, which results in a zero-net benefit for every player. In the markets and financial instruments, futures contracts and options are zero-sum games as well. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Happiness Economics
The economics of happiness or happiness economics is the theoretical, qualitative and quantitative study of happiness and quality of life, including positive and negative affects, well-being, life satisfaction and related concepts – typically tying economics more closely than usual with other social sciences, like sociology and psychology, as well as physical health. It typically treats subjective happiness-related measures, as well as more objective quality of life indices, rather than wealth, income or profit, as something to be maximized. The field has grown substantially since the late 20th century, for example by the development of methods, surveys and indices to measure happiness and related concepts,• Carol Graham, 2008. "happiness, economics of," ''The New Palgrave Dictionary of Economics'', 2nd EditionAbstract.Prepublicatio copy.br /> • _____, 2005. "The Economics of Happiness: Insights on Globalization from a Novel Approach," ''World Economics'', 6(3) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Deal (United Kingdom)
The New Deal (renamed Flexible New Deal from October 2009) was a workfare programme introduced in the United Kingdom by the first New Labour government in 1998, initially funded by a one-off £5 billion windfall tax on privatised utility companies. The stated purpose was to reduce unemployment by providing training, subsidised employment and voluntary work to the unemployed. Spending on the New Deal was £1.3 billion in 2001. The New Deal was a cornerstone of New Labour and devised mainly by LSE Professor Richard Layard, who has since been elevated to the House of Lords as a Labour peer. It was based on similar workfare models in Sweden, which Layard has spent much of his academic career studying. Purpose The New Deal had, as its signature, the power to withdraw benefits from those who 'refused reasonable employment'. 'Workfare' in the UK can arguably be traced back to 1986, and compulsory 'Restart' interviews for claimants after a certain period, and as such the first intro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Labour
New Labour was a period in the history of the British Labour Party from the mid to late 1990s until 2010 under the leadership of Tony Blair and Gordon Brown. The name dates from a conference slogan first used by the party in 1994, later seen in a draft manifesto which was published in 1996 and titled ''New Labour, New Life for Britain''. It was presented as the brand of a newly reformed party that had altered Clause IV and endorsed market economics. The branding was extensively used while the party was in government between 1997 and 2010. New Labour was influenced by the political thinking of Anthony Crosland and the leadership of Blair and Brown as well as Peter Mandelson and Alastair Campbell's media campaigning. The political philosophy of New Labour was influenced by the party's development of Anthony Giddens' Third Way which attempted to provide a synthesis between capitalism and socialism. Mark Bevir argues that another motivation for the creation of New Labour was a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stephen Nickell
Sir Stephen John Nickell, (born 25 April 1944) is a British economist and former warden of Nuffield College, Oxford, noted for his work in labour economics with Richard Layard and Richard Jackman. Nickell and Layard hypothesised the tendency for reduced unemployment to lead to inflation resulted from its effect on competitive bargaining in the labour market He is currently a member of the Office for Budget Responsibility's Budget Responsibility Committee. Education Nickell was educated at Merchant Taylors' School, Northwood and the University of Cambridge where he was a student of Pembroke College, Cambridge and studied the Mathematical Tripos. From 1965 until 1968 he was a mathematics teacher at Hendon County School. He was a postgraduate student at the London School of Economics, where he was awarded a Master of Science degree and was awarded the Ely Devons Prize. Career and research Nickell worked at the London School of Economics from 1970 until 1984, and again from 199 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mark Blaug
Mark Blaug FBA (; 3 April 1927 – 18 November 2011) was a Dutch-born British economist (naturalised in 1982), who covered a broad range of topics during his long career. He was married to Ruth Towse. Life and work Blaug was born on 3 April 1927 in The Hague as Norbert Blauaug. In 1955 Blaug received his PhD from Columbia University in New York under the supervision of George Stigler. Besides shorter periods in public service and in international organisations he has held academic appointments in – among others – Yale University, the University of London, the London School of Economics, the University of Exeter and the University of Buckingham. He was visiting Professor in the Netherlands, University of Amsterdam and Erasmus University in Rotterdam, where he was also co-director of CHIMES (Center for History in Management and Economics). Mark Blaug made far reaching contributions to a range of topics in economic thought throughout his career. Apart from valuable contribu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics Of Education
Education economics or the economics of education is the study of economic issues relating to education, including the demand for education, the financing and provision of education, and the comparative efficiency of various educational programs and policies. From early works on the relationship between schooling and labor market outcomes for individuals, the field of the economics of education has grown rapidly to cover virtually all areas with linkages to education. Education as an investment Economics distinguishes in addition to physical capital another form of capital that is no less critical as a means of production – human capital. With investments in human capital, such as education, three major economic effects can be expected: * ''increased expenses'' as the accumulation of human capital requires investments just as physical capital does, * ''increased productivity'' as people gain characteristics that enable them to produce more output and hence * ''return on inve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robbins Enquiry
The Robbins Report (the report of the Committee on Higher Education, chaired by Lord Robbins) was commissioned by the British government and published in 1963. The committee met from 1961 to 1963. After the report's publication, its conclusions were accepted by the government on 24 October 1963. The report recommended immediate expansion of universities, and that all colleges of advanced technology should be given the status of universities. Consequently, the number of full-time university students was to rise from 197,000 in the 1967–68 academic year to 217,000 in the academic year of 1973–74 with "further big expansion" thereafter. The report also concluded that university places "should be available to all who were qualified for them by ability and attainment" (the so-called Robbins principle) and that such institutions should have four main "objectives essential to any properly balanced system: instruction in skills; the promotion of the general powers of the mind so as to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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