Economic discourse has historically emphasized nations as the default economic agent in the world economy. Under a Westphalian understanding of sovereignty, the nation-state rose as the pre-eminent actor on the global stage, assuming the representation of individuals within such communities. It was within this global structure, that the movement against mercantilist national policy birthed the seminal works of Smith and Ricardo, founding our understanding of economics. Disrupting this conventional mindset, however, is the tide of urbanisation that has concentrated global wealth. 65% of global GDP growth is predicted to be situated in just 600 urban areas, representing a shift in…

In developed economies, we assume that growth is a constant, and take it for granted. Yet, in the 1990s, developing countries had a period of zero growth, dubbed ‘the lost decade’. This coincided with the AIDS epidemic, which brought health to the conversation during a time when trade liberalisation was considered to be the driving force of economic development.

Remarkable feats have been achieved in the last 20 years to combat poor health in developing countries, specifically towards the treatment of communicable diseases. This can be seen in figure 1, representing a 40% reduction in DALY (disability-adjusted life years —…

Scarcity. A word that is at the heart of our pursuit of economic enlightenment, the idea of which sharpens the blurred lines that we construct between the discipline of economics and neighbouring psychology and political science. Economic thought has often been shepherded by the age-old problem of organising limited resources in a world where economic agents have their own agendas in fulfilling wants and needs which is, and always will be, at the heart of any relevant economic problem.

As we venture into the new decade, scarcity has again reared its inexorable head. It is hardly a polemic idea that…

Augustin Tsang

Just a local lad from HK

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